Firstcash Holdings, Inc. · NASDAQ:FCFS
Firstcash — Investor Presentation (November 2023)
32 slides from Firstcash's investor presentation, Nov 13, 2023
Slide 1: FirstCash Holdings Investor Presentation November 2023
P . 1F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS Investor Presentation November 2023 EXHIBIT 99.1
Slide 2: Forward-Looking Statements
P . 2F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS THIS PRESENTATION CONTAINS FORWARD-LOOKING STATEMENTS ABOUT THE BUSINESS, FINANCIAL CONDITION, OUTLOOK AND PROSPECTS OF FIRSTCASH HOLDINGS, INC. AND ITS WHOLLY OWNED SUBSIDIARIES (TOGETHER, THE “COMPANY”). FORWARD-LOOKING STATEMENTS, AS T
Slide 3: Leading operator of pawn stores in the U.S. and Latin America
P . 3F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS WE ARE THE LEADING OPERATOR OF PAWN STORES IN THE U.S. AND LATIN AMERICA, AND A LEADING PROVIDER OF RETAIL POINT-OF-SALE (“POS”) PAYMENT SOLUTIONS — U.S. Pawn: 29 States and the District of Columbia — Latin America Pawn : Mexico, Guatemal
Slide 4: Pawn Operations
P . 4F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS PAWN OPERATIONS
Slide 5: Pawn Product Overview
P . 5F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFSPAWN PRODUCT OVERVIEW PAWN LOANS ARE CUSTOMER FRIENDLY ‒ NON-RECOURSE LOANS ‒ NO CREDIT CHECK OR BANK ACCOUNT REQUIRED ‒ NO COLLECTION ACTIVITY OR REPORTING TO CREDIT BUREAUS PAWN LOANS ARE SMALL AND AFFORDABLE ‒ TYPICALLY, 30-TO-60-DAY TE
Slide 6: Data Analytics Deliver Scalable High Performing Operating Metrics
P . 6F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFSData Analytics Deliver Scalable High Performing Operating Metrics DATA FROM 2,900+ LOCATIONS CONTINUALLY CAPTURED AND REFRESHED FROM MORE THAN 12 MILLION ANNUAL RESALE TRANSACTIONS ‒ MERCHANDISE INVENTORY SALES DATABASE PROVIDES REAL-TIME
Slide 7: Pawn receivables resilient through financial crisis and COVID
P . 7F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS $3.3 $3.9 $4.3 $4.8 $4.9 $5.2 $5.3 $5.2 $5.2 $5.4 $5.9 $6.0 $6.0 $5.0 $5.3 $5.7 $5.9 $0.0 $2.5 $5.0 $7.5 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Q3 2023 $555 $612 $654 $717 $782 $828 $816 $782 $743
Slide 8: Pawn Collateral and Inventory Composition
P . 8F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFSPawn Collateral and Inventory Composition U.S. PAWN LATAM PAWN CONSOLIDATED PAWN 34% 58%69% 48%32%55% 47%11% 22% 50%15% 26% PAWN COLLATERAL PAWN COLLATERAL PAWN COLLATERAL INVENTORY INVENTORY INVENTORY As of 09/30/2023 JEWELRY ELECTRONICS
Slide 9: FirstCash Pawn Segment History
P . 9F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS 66 123 282 595 906 2,085 2,679 2,988 1988 1989 – 1996 1997 – 2001 2002 – 2005 2006 - 2010 2011 – 2013 2014 – 2016 2017 – 2019 2020 – September 2023 FirstCash Pawn Segment History Primary long-term business plan is to continue growing pawn
Slide 10: ESG: Sustainability is Core to FirstCash
P . 1 0F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS PAWNSHOPS PIONEERED CIRCULAR ECONOMY ‒ NEIGHBORHOOD-BASED STORES CONTRIBUTE TO THE MODERN “CIRCULAR ECONOMY” EXTENDING LIFE CYCLE OF CONSUMER PRODUCTS – INVENTORY IS PRE-OWNED MERCHANDISE WHICH IS SOURCED AND THEN RECYCLED WITHIN EACH S
Slide 11: ESG: Commitment to Social Responsibility
P . 1 1F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS EMPLOYEE EMPOWERMENT ‒ EMPLOYEE-TRAINING PROGRAMS THAT PROMOTE CUSTOMER SERVICE AND PROFESSIONALISM ‒ SPECIALIZED SKILL TRAINING PROGRAMS IN LENDING PRACTICES, MERCHANDISE VALUATION AND REGULATORY COMPLIANCE ‒ PROFIT SHARING PROGRAMS WH
Slide 12: Almost 1,200 Full-Service U.S. Locations
P . 1 2F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS ALMOST 1,200 FULL-SERVICE U.S. LOCATIONS 29 STATES AND THE DISTRICT OF COLUMBIA DOMESTIC PAWN SEGMENT
Slide 13: U.S. Pawn Segment: Pawn Locations by State
P . 1 3F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS 27 27 22 47 30 88 0 30 60 90 2018 2019 2020 2021 2022 YTD-2023 U.S. Pawn Segment 29 U.S. States and the District of Columbia PAWN LOCATIONS BY STATE CONTINUED GROWTH OPPORTUNITIES U.S. PAWN MARKET IS LARGE AND HIGHLY FRAGMENTED — OVER 1
Slide 14: Q3 2023 U.S. Pawn Segment Highlights
F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS P . 1 4 $305 $335 $179 $205 $0 $100 $200 $300 $400 $500 Q3 2022 Q3 2023 Q3 2022 Q3 2023 REVENUE NET REVENUE RETAIL PAWN FEES SCRAP Q3 2023 U.S. Pawn Segment Highlights — $ in Millions +10% +15% $280 $341 15% 8% 5% 6% 11% 0% 6% 12% 18% 24% $0 $
Slide 15: Over 1,800 Latin America Locations in Four Countries
P . 1 5F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS OVER 1,800 LATIN AMERICA LOCATIONS IN FOUR COUNTRIES o LATIN AMERICAN MARKETS REMAIN RECEPTIVE TO PAWN GIVEN THE HIGH CONCENTRATION OF UNBANKED AND UNDERBANKED CONSUMERS o FIRSTCASH’S WELL-ESTABLISHED LATIN AMERICAN INFRASTRUCTURE AND S
Slide 16: FirstCash LatAm Growth: Store Count and Net Revenue
P . 1 6F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFSFirstCash LatAm Growth Store Count and Net Revenue — $ in Millions REVENUE GROWTH $368 $417 $487 $557 $671 $553 $592 $675 $780 $368 $485 $573 $666 $803 $725 $742 $839 $889 $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 2015 2016
Slide 17: Q3 2023 LatAm Pawn Segment Highlights
F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS P . 1 7 $163 $202 $89 $110 $0 $50 $100 $150 $200 $250 Q3 2022 Q3 2023 Q3 2022 Q3 2023 REVENUE NET REVENUE RETAIL PAWN FEES SCRAP Q3 2023 LatAm Pawn Segment Highlights — All in U.S $ Millions +24% +24% $125 $143 17% 18% 18% 17% 14% 0% 12% 24% 3
Slide 18: Retail POS Payment Solutions Operations
P . 1 8F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFSRETAIL POS PAYMENT SOLUTIONS OPERATIONS
Slide 19: AFF Acquisition Expands Product Offerings
P . 1 9F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFSAFF Acquisition Expands Product Offerings Enhances FirstCash’s Core Pawn Business SIGNIFICANTLY DIVERSIFYING FIRSTCASH’S BUSINESS AND PROVIDING A NEW SOURCE OF REVENUE GROWTH 3 PROVIDES PRODUCT AND REVENUE DIVERSIFICATION UTILIZING TECHN
Slide 20: Retail POS Payment Solution Overview
P . 2 0F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS CUSTOMERS TAKE ITEMS HOME SAME DAY OR ARRANGE FOR DELIVERY TAKE ITEMS HOME — SAME DAY! AUTO-PAY OPTION MANAGED ONLINE BY THE CUSTOMER PAY AS YOU GO PAYMENT SOLUTIONS FOR ALL 50 STATES LEASE-TO-OWN BANK LOANSRETAIL INSTALLMENT AVAILABLE
Slide 21: AFF POS Payment Solutions Q3 2023
P . 2 1F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS 8,600 10,800 Q3 2022 Q3 2023 Q3 2023 AFF POS Payment Solutions — All in U.S $ Millions $209 $203 $214 $221 $238 $248 $251 Q 1 Q 2 Q 3 20 22 Q 4 Q 1 Q 2 Q 3 20 23 DOOR COUNT REVENUES SEGMENT CONTRIBUTIONGROSS TRANSACTION VOLUME +26% $221
Slide 22: Financial Highlights
P . 2 2F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS FINANCIAL HIGHLIGHTS
Slide 23: Consolidated Operating Highlights
P . 2 3F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS $3.81 $2.56 $3.04 $5.36 $4.99 $3.89 $3.01 $3.94 $5.19 $5.66 $0.00 $1.25 $2.50 $3.75 $5.00 $6.25 2019 2020 2021 2022 TTM Q3 2023 EPS ADJUSTED EPS 1 $165 $107 $125 $253 $230 $168 $125 $161 $246 $261 $0 $75 $150 $225 $300 2019 2020 2021 20
Slide 24: Cash Flows and Balance Sheet Support Growth
P . 2 4F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS Cash Flows and Balance Sheet Support Growth — $ in Millions, Except per Share Amounts 1 Non-GAAP financial measure. See reconciliation of non-GAAP financial measures elsewhere in this presentation 2 Total capacity of bank credit facilit
Slide 25: Cash Dividends & Share Repurchases
P . 2 5F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS As of 09/30/2023 Cash Dividends & Share Repurchases $0.125 $0.19 $0.22 $0.25 $0.27 $0.27 $0.30 $0.33 $0.125 $0.19 $0.22 $0.25 $0.27 $0.30 $0.30 $0.33 $0.125 $0.19 $0.22 $0.25 $0.27 $0.30 $0.33 $0.35 $0.19 $0.20 $0.25 $0.27 $0.27 $0.30 $
Slide 26: Growth Investments & Shareholder Payouts Since 2010
P . 2 6F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS As of 09/30/2023 Growth Investments & Shareholder Payouts Since 2010 — $ in Millions $0 $1,000 $2,000 $3,000 $4,000 CUMULATIVE TOTAL $3.7 BILLION $819 $1,491 $1,381 STOCK REPURCHASES & DIVIDENDS ‒ 17 MILLION SHARES REPURCHASED ‒ $339 MI
Slide 27: Pawn Focused Business Model
P . 2 7F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS PAWN FOCUSED BUSINESS MODEL ‒ SMALL SECURED PAWN LOANS TO UNBANKED AND UNDERBANKED CONSUMERS WITH LIMITED OR NO ACCESS TO TRADITIONAL CREDIT PRODUCTS ‒ DIVERSIFIED LENDING AND RETAIL MODEL IS A SIGNIFICANT COMPETITIVE ADVANTAGE WITH STR
Slide 28: Financial Appendix
P . 2 8F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS FINANCIAL APPENDIX
Slide 29: Non-GAAP Financial Information
P . 2 9F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFSNon-GAAP Financial Information Please reference the Form 10-Q filed on 10/30/2023 for further explanation THE COMPANY USES CERTAIN FINANCIAL CALCULATIONS SUCH AS ADJUSTED NET INCOME, ADJUSTED DILUTED EARNINGS PER SHARE, EBITDA, ADJUSTED
Slide 30: Reconciliations of Non-GAAP Financial Measures to GAAP
P . 3 0F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS TTM Q3 2023Y/E2022Y/E 2021Y/E 2020Y/E 2019 PER SHAREDOLLARSPER SHAREDOLLARSPER SHAREDOLLARSPER SHAREDOLLARSPER SHAREDOLLARS $4.99 $229,778 $5.36 $253,495 $3.04 $124,909 $2.56 $106,579 $3.81 $164,618 Net Income and Diluted Earnings per S
Slide 31: Reconciliations of Non-GAAP Financial Measures to GAAP
P . 3 1F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFSReconciliations of Non-GAAP Financial Measures to GAAP Financial Measures TTMY/EY/EY/EY/E Q3 20232022202120202019 $229,778 $253,495$124,909$106,579$164,618Net Income 73,18970,13841,59337,12059,993Income Taxes 107,863103,83245,90642,10541
Slide 32: Get in Touch With Us
P . 3 2F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS GAR JACKSON GLOBAL IR GROUP GAR@GLOBALIRGROUP.COM 817 886 6998 GET IN TOUCH WITH US INVESTOR RELATIONS INVESTORRELATIONS@FIRSTCASH.COM INVESTORS.FIRSTCASH.COM 817 258 2650 NASDAQ: FCFS
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