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EZCorp (EZPW)

Formed in 1989, EZCORP has grown into a leading provider of pawn loans in the United States and Latin America. It also sells merchandise, primarily collateral forfeited from pawn lending operations and pre-owned merchandise purchased from customers. It is dedicated to satisfying the short-term cash needs of consumers who are both cash and credit constrained, focusing on an industry-leading customer experience.

Company profile

Ticker
EZPW
Exchange
Website
CEO
Stuart Grimshaw
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Brainerd Honduras, S.A. de C.V. • Brainerd, S.A. • Brainerd, S.A. de C.V. • Camira Administration Corp • Cap City Holdings, LLC • CCV Americas, LLC • CCV Pennsylvania, Inc. • Change Capital International Holdings, B.V. • Change Capital Mexico Holdings, S.A. de C.V. • EGreen Financial, Inc. ...
IRS number
742540145

EZPW stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

3 Aug 22
12 Aug 22
30 Sep 22
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) Sep 21 Sep 20 Sep 19 Sep 18
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) 230.96M 230.96M 230.96M 230.96M 230.96M 230.96M
Cash burn (monthly) 10.91M 5.54M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 15.8M 8.03M n/a n/a n/a n/a
Cash remaining 215.15M 222.93M n/a n/a n/a n/a
Runway (months of cash) 19.7 40.2 n/a 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
7 Mar 22 Lachlan P Given RSU Class A Non-Voting Common Stock Grant Acquire A No No 0 85,340 0 358,187
7 Mar 22 John Blair Jr. Powell RSU Class A Non-Voting Common Stock Grant Acquire A No No 0 35,558 0 189,319
7 Mar 22 Timothy Jugmans RSU Class A Non-Voting Common Stock Grant Acquire A No No 0 2,844 0 134,878
7 Mar 22 Lisa Vanroekel RSU Class A Non-Voting Common Stock Grant Acquire A No No 0 4,551 0 97,205
7 Mar 22 Matthew Appel Class A Non-Voting Common Stock Grant Acquire A No No 6.04 26,490 160K 185,402
92.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 156 153 +2.0%
Opened positions 19 18 +5.6%
Closed positions 16 14 +14.3%
Increased positions 52 56 -7.1%
Reduced positions 51 49 +4.1%
13F shares Current Prev Q Change
Total value 300.48M 648.5M -53.7%
Total shares 49.76M 54.55M -8.8%
Total puts 0 2.8K EXIT
Total calls 0 2.8K EXIT
Total put/call ratio 1.0
Largest owners Shares Value Change
BLK Blackrock 9.04M $54.59M +3.4%
Dimensional Fund Advisors 3.85M $23.26M +7.3%
Vanguard 3.34M $20.19M -0.7%
First Wilshire Securities Management 2.67M $16.11M -0.1%
Russell Investments 2.4M $14.5M -2.8%
Kanen Wealth Management 2.27M $13.7M +42.1%
Renaissance Technologies 2.18M $13.14M -0.1%
AMP Ameriprise Financial 2.16M $13.05M +18.9%
Archon Capital Management 1.81M $10.91M +19.8%
Wasatch Advisors 1.78M $10.77M 0.0%
Largest transactions Shares Bought/sold Change
Dupont Capital Management 0 -3.64M EXIT
Lafitte Capital Management 500K -2.96M -85.5%
Kanen Wealth Management 2.27M +671.58K +42.1%
Arrowstreet Capital, Limited Partnership 141.31K -551.82K -79.6%
IVZ Invesco 1.59M +368.72K +30.2%
AMP Ameriprise Financial 2.16M +343.08K +18.9%
Bridgeway Capital Management 1.33M +315.2K +31.1%
Archon Capital Management 1.81M +299K +19.8%
BLK Blackrock 9.04M +293.05K +3.4%
Assenagon Asset Management 201.39K -280.96K -58.2%

Financial report summary

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Risks
  • Changes in, or failure to comply with, laws and regulations affecting our products and services could have a material adverse effect on our operations and financial performance.
  • Negative characterizations of the pawn industry by consumer advocates, media or others could result in increased legislative or regulatory activity, could adversely affect the market value of our publicly traded stock, or could make it harder to operate our business successfully.
  • A significant portion of our U.S. business is concentrated in Texas and Florida.
  • A significant or sudden decrease in gold values or the volume of gold transactions may have a material impact on our earnings and financial position.
  • Fluctuations in our sales, PLO, sales margins and pawn redemption rates could have a material adverse impact on our operating results.
  • Achievement of our growth objectives is dependent upon our ability to open and acquire new stores.
  • We continue to have limited indemnity obligations to AlphaCredit for pre-closing taxes.
  • One person beneficially owns all of our voting stock and generally controls the outcome of all matters requiring a vote of stockholders, which may influence the value of our publicly traded non-voting stock.
  • We have a significant firearms business in the U.S., which exposes us to increased risks of regulatory fines and penalties, lawsuits and related liabilities.
  • Our business is subject to Team Member and third-party robberies, burglaries and other crimes at the store level.
  • Changes in competition from various sources could have a material adverse impact on our ability to achieve our plans.
  • Our continued profitability and growth plans are dependent on our ability to successfully design or acquire, deploy and maintain information technology and other business systems to support our current business and our planned growth and expansion.
  • We may incur property, casualty or other losses, including losses related to natural disasters such as hurricanes, earthquakes and volcanoes. Not all such losses will be covered by insurance.
  • Goodwill comprises a significant portion of our total assets. We assess goodwill for impairment at least annually, which could result in a material, non-cash write-down and could have a material adverse effect on our results of operations and financial conditions.
  • The conversion feature of our convertible notes, if triggered, may adversely affect our financial condition and operating results.
  • Conversion of our convertible notes into stock may dilute the ownership interests of existing stockholders or may otherwise depress the price of our Class A Common Stock.
  • We have a limited number of unreserved shares available for future issuance, which may limit our ability to conduct future financings and other transactions and our ability to offer equity awards to management.
  • Public health issues, including the continuing COVID-19 pandemic, could adversely affect our financial condition, results of operations or liquidity.
  • We have significant operations in Latin America, and changes in the business, regulatory, political or social climate could impact our operations there, which could adversely affect our results of operations and growth plans.
  • A significant change in foreign currency exchange rates could have a material adverse impact on our earnings and financial position.
  • Litigation and regulatory proceedings could have a material adverse impact on our business.
  • Our acquisitions, investments and other transactions could disrupt our ongoing business and harm our results of operations.
  • We may be exposed to liabilities under applicable anti-bribery, anti-corruption, anti-money laundering and other general business laws and regulations, and any determination that we violated these laws or regulations could have a material adverse effect on our business.
  • Changes in our liquidity and capital requirements or in access to capital markets or other financing and transactional banking sources could limit our ability to achieve our plans.
  • We collect and store a variety of sensitive customer information, and breaches in data security or other cyber-attacks could harm our business operations and lead to reputational damage.
  • We may face business interruptions or other adverse effects on our operations and growth.
Management Discussion
  • ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • EZCORP is a Delaware corporation headquartered in Austin, Texas. We are a leading provider of pawn services in the United States and Latin America. Pawn loans are nonrecourse loans collateralized by personal property. We also sell merchandise, primarily collateral forfeited from unpaid loans or goods purchased directly from customers.
  • We exist to serve our customers’ short-term cash needs, helping them to live and enjoy their lives. We are focused on three strategic pillars:

Content analysis

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Positive
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Legalese
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Readability
H.S. freshman Avg
New words: accrual, claimant, Codification, dismissed, Eleventh, expiration, FIN, half, preliminarily, proliferation, refiled, relabeled, staffing, statute, twelve, vary, verified
Removed: duration, earlier, economy, global, permitted, preserve, prolonged, retired, therefrom, ultimately, unknown