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World Acceptance (WRLD)

Founded in 1962, Greenville, S.C. -based World Acceptance Corporation is one of North America's largest small-loan consumer finance companies. The company offers short and medium-term installment loans, related credit insurance and a range of ancillary financial products and services to individuals that may include those with limited access to other sources of consumer credit.

Company profile

Ticker
WRLD
Exchange
CEO
A. Alexander McLean
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
World Finance Corporation • World Finance Company • WFC of South Carolina, Inc. • WFC Services, Inc. • WFC Limited Partnership • WAC Insurance Company, Ltd. • WAC of Oklahoma, LP • WAC of South Carolina, LLC • WAC Mexico Holdings, LLC ...
IRS number
570425114

WRLD stock data

Analyst ratings and price targets

Last 3 months

Calendar

5 Aug 22
19 Aug 22
31 Mar 23
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Mar 22 Mar 21 Mar 20 Mar 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 13.3M 13.3M 13.3M 13.3M 13.3M 13.3M
Cash burn (monthly) 1.98M (no burn) 4.08M (no burn) (no burn) (no burn)
Cash used (since last report) 3.32M n/a 6.86M n/a n/a n/a
Cash remaining 9.98M n/a 6.44M n/a n/a n/a
Runway (months of cash) 5.0 n/a 1.6 n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 22 Luke J. Umstetter COMMON STOCK, NO PAR VALUE Sell Dispose S No Yes 193.69 250 48.42K 20,224
3 Jan 22 Luke J. Umstetter COMMON STOCK, NO PAR VALUE Sell Dispose S No Yes 240.01 250 60K 20,474
3 Jan 22 Darrell E Whitaker COMMON STOCK, NO PAR VALUE Sell Dispose S No Yes 240.01 2,500 600.03K 6,499
3 Jan 22 Darrell E Whitaker COMMON STOCK, NO PAR VALUE Option exercise Acquire M No Yes 74.08 1,000 74.08K 8,999
3 Jan 22 Darrell E Whitaker COMMON STOCK, NO PAR VALUE Option exercise Acquire M No Yes 74.08 1,000 74.08K 7,999
3 Jan 22 Darrell E Whitaker COMMON STOCK, NO PAR VALUE Option exercise Acquire M No Yes 74.08 500 37.04K 6,999
3 Jan 22 Darrell E Whitaker EMPLOYEE STOCK OPTION, RIGHT TO BUY COMMON STOCK, NO PAR VALUE Option exercise Dispose M No Yes 74.08 1,000 74.08K 0
3 Jan 22 Darrell E Whitaker EMPLOYEE STOCK OPTION, RIGHT TO BUY COMMON STOCK, NO PAR VALUE Option exercise Dispose M No Yes 74.08 1,000 74.08K 0
3 Jan 22 Darrell E Whitaker EMPLOYEE STOCK OPTION, RIGHT TO BUY COMMON STOCK, NO PAR VALUE Option exercise Dispose M No Yes 74.08 500 37.04K 0
17 Dec 21 Scott McIntyre COMMON STOCK, NO PAR VALUE Sell Dispose S No No 250 490 122.5K 11,667
86.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 120 135 -11.1%
Opened positions 11 15 -26.7%
Closed positions 26 18 +44.4%
Increased positions 25 28 -10.7%
Reduced positions 56 55 +1.8%
13F shares Current Prev Q Change
Total value 610.42M 1.05B -42.1%
Total shares 5.44M 5.5M -1.1%
Total puts 14K 20.8K -32.7%
Total calls 63K 3.8K +1557.9%
Total put/call ratio 0.2 5.5 -95.9%
Largest owners Shares Value Change
Prescott General Partners 2.04M $228.69M 0.0%
CAS Investment Partners 755.77K $84.83M 0.0%
BLK Blackrock 602.01K $67.57M -8.9%
Vanguard 463.09K $51.98M -3.1%
Dimensional Fund Advisors 252.16K $28.3M -2.1%
Kize Capital 206.26K $23.15M +5.1%
STT State Street 132.72K $14.9M -4.1%
Geode Capital Management 72.48K $8.14M -8.4%
Smith Thomas W 70.65K $7.93M 0.0%
NTRS Northern Trust 68.92K $7.74M -4.2%
Largest transactions Shares Bought/sold Change
BLK Blackrock 602.01K -58.95K -8.9%
MS Morgan Stanley 42.82K +21K +96.2%
Millennium Management 20.83K +16.74K +408.6%
Parametric Portfolio Associates 0 -15.28K EXIT
Vanguard 463.09K -14.63K -3.1%
Jacobs Levy Equity Management 14.6K +14.6K NEW
Tudor Investment Corp Et Al 11.75K +11.75K NEW
Cubist Systematic Strategies 13.15K +10.32K +364.7%
Kize Capital 206.26K +10K +5.1%
LGEN Legal & General 0 -9.65K EXIT

Financial report summary

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Risks
  • Employee misconduct or misconduct by third parties acting on our behalf could harm us by subjecting us to monetary loss, significant legal liability, regulatory scrutiny, and reputational harm.
  • Interest rate fluctuations may adversely affect our borrowing costs, profitability and liquidity.
  • We are exposed to credit risk in our lending activities.
  • Our insurance operations are subject to a number of risks and uncertainties, including claims, catastrophic events, underwriting risks and dependence on a primary distribution channel.
  • If our estimates of credit losses are not adequate to absorb actual losses, our provision for credit losses would increase, which would adversely affect our results of operations.
  • The concentration of our revenues in certain states could adversely affect us.
  • We may be unable to execute our business strategy due to economic conditions.
  • We currently lack product and business diversification; as a result, our revenues and earnings may be disproportionately negatively impacted by external factors and may be more susceptible to fluctuations than more diversified companies.
  • A reduction in demand for our products and a failure by us to adapt to such reduction could adversely affect our business and results of operations.
  • We operate in a highly competitive market, and we cannot ensure that the competitive pressures we face will not have a material adverse effect on our results of operations, financial condition and liquidity.
  • We depend on secure information technology, and an attack on or a breach of those systems or those of third-party vendors could result in significant losses, unauthorized disclosure of confidential customer information, and reputational damage, which could materially adversely affect our business, financial condition and/or results of operations, and could lead to significant financial and legal exposure and reputational harm.
  • Any interruption of our information systems could adversely affect us.
  • We may not be able to make technological improvements as quickly as some of our competitors, which could harm our ability to compete with our competitors and adversely affect our results of operations, financial condition, and liquidity.
  • We are subject to data privacy laws, which may significantly increase our compliance and technology costs resulting in a material adverse effect on our results of operations and financial condition.
  • We are also subject to the risk of theft or misuse of physical customer and employee records at our facilities.
  • Our off-site data center and centralized IT functions are susceptible to disruption by catastrophic events, which could have a material adverse effect on our business, results of operations, and financial condition.
  • A small number of our shareholders have the ability to significantly influence matters requiring shareholder approval and such shareholders may have interests which conflict with the interests of our other security holders.
  • Initiating and processing potential acquisitions may be unsuccessful or difficult, leading to losses and increased delinquencies, which could have a material adverse effect on our results of operations.
  • We depend to a substantial extent on borrowings under our revolving credit agreement to fund our liquidity needs.
  • Our current debt and any additional debt we may incur in the future could negatively impact our business, prevent us from satisfying our debt obligations and adversely affect our financial condition.
  • We may not be able to generate sufficient cash flows to service our outstanding debt and fund operations and may be forced to take other actions to satisfy our obligations under such debt.
  • The terms of our debt limit how we conduct our business.
  • The conditions of the U.S. and international capital markets may adversely affect lenders with which we have relationships, causing us to incur additional costs and reducing our sources of liquidity, which may adversely affect our financial position, liquidity and results of operations.
  • Risks Related to Legal Proceedings and Regulation
  • Federal legislative or regulatory proposals, initiatives, actions, or changes that are adverse to our operations or result in adverse regulatory proceedings, or our failure to comply with existing or future federal laws and regulations, could force us to modify, suspend, or cease part or all of our nationwide operations.
  • Unfavorable state legislation, executive orders, or regulatory actions, adverse outcomes in litigation or regulatory proceedings or failure to comply with existing laws and regulations could force us to cease, suspend or modify our operations in a state, potentially resulting in a material adverse effect on our business, results of operations and financial condition.
  • Changes in local laws and regulations or interpretations of local laws and regulations could negatively impact our business, results of operations, and financial condition.
  • Our use of third-party vendors is subject to regulatory review.
  • Our risk management efforts may not be effective.
  • We may experience significant turnover in our senior management, and our business may be adversely affected by the transitions in our senior management team.
  • The departure, transition, or replacement of key personnel could significantly impact the results of our operations. If we cannot continue to hire and retain high-quality employees, our business and financial results may be negatively affected.
  • Changes in federal, state and local tax law, interpretations of existing tax law, or adverse determinations by tax authorities, could increase our tax burden or otherwise adversely affect our financial condition or results of operations.
  • Damage to our reputation could negatively impact our business.
  • We have goodwill, which is subject to periodic review and testing for impairment.
  • If we fail to maintain appropriate controls and procedures, we may not be able to accurately report our financial results, which could have a material adverse effect on our operations, financial condition, and the trading price of our common stock.
  • Regular turnover among our managers and other employees at our branches makes it more difficult for us to operate our branches and increases our costs of operations, which could have an adverse effect on our business, results of operations and financial condition.
  • Absence of dividends could reduce our attractiveness to investors.
  • Various provisions of our charter documents and applicable laws could delay or prevent a change of control that shareholders may favor.
  • Overall stock market volatility may materially and adversely affect the market price of our common stock.
  • Changes to accounting rules, regulations or interpretations could significantly affect our financial results.
  • If assumptions or estimates we use in preparing our financial statements are incorrect or are required to change, our reported results of operations and financial condition may be adversely affected.
  • The future issuance of additional shares of our common stock in connection with potential acquisitions or otherwise will dilute all other shareholders.
Management Discussion
  • (1) Average gross loans receivable has been determined by averaging month-end gross loans receivable over the indicated period, excluding tax advances.
  • (2) Net loans receivable is defined as gross loans receivable less unearned interest and deferred fees.
  • (3) Average net loans receivable has been determined by averaging month-end gross loans receivable less unearned interest and deferred fees over the indicated period, excluding tax advances.

Content analysis

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Uncertain
Constraining
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H.S. junior Avg
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