Firstcash Holdings, Inc. · NASDAQ:FCFS
Firstcash — Investor Presentation (November 2024)
32 slides from Firstcash's investor presentation, Nov 18, 2024
Slide 1: Investor Presentation — November 2024
F I R S T C A S H H O L D I N G S , I N C . P . 1 NASDAQ: FCFS I n v e s t o r P r e s e n t a t i o n — N o v e m b e r 2 0 2 4 EXHIBIT 99.1
Slide 2: Forward-looking statements
F I R S T C A S H H O L D I N G S , I N C . P . 2 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
Slide 3: Our Business and Our Results
P . 3F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS OUR BUSINESS — WE ARE THE LEADING OPERATOR OF PAWN STORES IN THE U.S. AND LATIN AMERICA — OVER 3,000 PAWN LOCATIONS — OPERATIONS IN FIVE COUNTRIES OUR RESULTS — PROVEN ABILITY TO GROW REVENUES AND EARNINGS — STRONG FINANCIAL POSITION — CO
Slide 4: FirstCash Highlights by the Numbers
F I R S T C A S H H O L D I N G S , I N C . P . 4 NASDAQ: FCFS FIRSTCASH HIGHLIGHTS BY THE NUMBERS TRAILING TWELVE-MONTHS AS OF SEPTEMBER 2024 $3.4 BILLION — REVENUE $1.6 BILLION — NET REVENUE $245 MILLION — GAAP NET INCOME $300 MILLION — ADJUSTED NET INCOME $554 MILLION — ADJUSTED EBITDA CORE PAWN
Slide 5: Pawn Operations
P . 5F I R S T C A S H H O L D I N G S , I N C . PAWN OPERATIONS NASDAQ: FCFS
Slide 6: Pawn Overview
F I R S T C A S H H O L D I N G S , I N C . P . 6 NASDAQ: FCFS With over 12 million individual pre- owned items sold annually, we believe we are one of the largest resellers of recycled consumer products in the Americas… PAWN OVERVIEW FIRSTCASH IS THE LEADING INTERNATIONAL OPERATOR OF PAWN STORES WI
Slide 7: FirstCash Pawn Segment History
F I R S T C A S H H O L D I N G S , I N C . P . 7 NASDAQ: FCFS 66 123 282 595 906 2,085 2,679 1988 1989 – 1996 1997 – 2001 2002 – 2005 2006 - 2010 2011 – 2013 2014 – 2016 2017 – 2019 2020 – 2024 FIRSTCASH PAWN SEGMENT HISTORY PRIMARY LONG-TERM BUSINESS PLAN IS TO CONTINUE GROWING PAWN REVENUES AND I
Slide 8: Pawn Product Overview
F I R S T C A S H H O L D I N G S , I N C . P . 8 NASDAQ: FCFSPAWN PRODUCT OVERVIEW $85 $264 $0 $50 $100 $150 $200 $250 $300 LATAM U.S. 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
Slide 9: Data Analytics Deliver Scalable High-Performing Operating Metrics
F I R S T C A S H H O L D I N G S , I N C . 3 2 1 NASDAQ: FCFS P . 9 DATA ANALYTICS DELIVER SCALABLE HIGH-PERFORMING OPERATING METRICS DATA FROM OVER 3,000 PAWN LOCATIONS CONTINUALLY CAPTURED AND REFRESHED FROM MORE THAN 12 MILLION ANNUAL RETAIL TRANSACTIONS ‒ INVENTORY SALES DATABASE PROVIDES REAL-
Slide 10: Pawn Has Performed Well Across Economic Cycles
F I R S T C A S H H O L D I N G S , I N C . P . 1 0 NASDAQ: FCFSPAWN HAS PERFORMED WELL ACROSS ECONOMIC CYCLES $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 $5.4 $5.7 $5.9 $6.1 $0.0 $2.5 $5.0 $7.5 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Slide 11: Pawn Collateral and Inventory Composition
F I R S T C A S H H O L D I N G S , I N C . P . 1 1 NASDAQ: FCFS U.S. PAWN LATAM PAWN CONSOLIDATED PAWN 38% 62%70% 49%30%57% 43%10% 19% 52% 12% 24% PAWN COLLATERAL PAWN COLLATERAL PAWN COLLATERAL INVENTORY INVENTORY INVENTORY JEWELRY ELECTRONICS TOOLS SPORTING GOODS MUSICAL INSTRUMENTS OTHER PAWN CO
Slide 12: Pawnshops Pioneered Circular Economy
F I R S T C A S H H O L D I N G S , I N C . P . 1 2 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
Slide 13: Commitment to Social Responsibility
P . 1 3 NASDAQ: FCFS COMMITMENT TO SOCIAL RESPONSIBILITY 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 WHICH PAY
Slide 14: U.S. Pawn Segment
NASDAQ: FCFS U.S. PAWN SEGMENT P . 1 4 1,200 FULL-SERVICE U.S. LOCATIONS 29 STATES AND THE DISTRICT OF COLUMBIA F I R S T C A S H H O L D I N G S , I N C . . 1
Slide 15: U.S. Pawn Market Is Large and Highly Fragmented
F I R S T C A S H H O L D I N G S , I N C . P . 1 5 NASDAQ: FCFS 27 27 22 47 30 96 29 0 0 25 50 75 100 2018 2019 2020 2021 2022 2023 YTD 2024 U.S. PAWN MARKET IS LARGE AND HIGHLY FRAGMENTED — OVER 12,000 ESTIMATED PAWN SHOPS IN U.S. FIRSTCASH LOCATIONS FOCUSED IN MARKETS WITH: ‒ GROWING POPULATIONS
Slide 16: Q3 2024 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 . P . 1 6 NASDAQ: FCFSQ3 2024 U.S. PAWN SEGMENT HIGHLIGHTS $ IN U.S. MILLIONS $335 $390 $205 $234 $0 $100 $200 $300 $400 $500 Q3 2023 Q3 2024 Q3 2023 Q3 2024 REVENUE NET REVENUE RETAIL PAWN FEES SCRAP +16% +14% 8.0% 4.5% 5.6% 11.0% 13.7% 14.5% 10.7% 9.5% 21.
Slide 17: LATAM Pawn Segment: Stores by Country
P . 1 7F I R S T C A S H H O L D I N G S , I N C . EL SALVADOR 17 GUATEMALA 72 COLOMBIA 12 MEXICO OPERATIONS: 1,727 STORES IN ALL 32 STATES 1,727 PAWN LOCATIONS BY COUNTRY CENTRAL + SOUTH AMERICA OPERATIONS: 101 STORES ACROSS 3 COUNTRIES MONTERREY, MX LATAM HEADQUARTERS LATAM PAWN SEGMENT OVER 1,800
Slide 18: 25 Years of LATAM Growth
F I R S T C A S H H O L D I N G S , I N C . P . 1 8 NASDAQ: FCFS 60 45 61 60 1 10 60 46 61 70 0 30 60 90 2021 2022 2023 YTD 2024 DE NOVO OPENINGS ACQUISITIONS $368 $417 $487 $557 $671 $553 $592 $675 $803 $822 $368 $485 $573 $666 $803 $725 $742 $839 $892 $909 $0 $200 $400 $600 $800 $1,000 2015 2016 2
Slide 19: Q3 2024 LATAM Pawn Segment Highlights
F I R S T C A S H H O L D I N G S , I N C . P . 1 9 NASDAQ: FCFSQ3 2024 LATAM PAWN SEGMENT HIGHLIGHTS $ IN CONSTANT CURRENCY1 MILLIONS, EXCEPT AS OTHERWISE NOTED $202 $217 $110 $116 $0 $60 $120 $180 $240 $300 Q3 2023 Q3 2024 Q3 2023 Q3 2024 REVENUE NET REVENUE RETAIL PAWN FEES SCRAP REVENUE1 SEGMENT
Slide 20: Retail POS Payment Solutions
P . 2 0F I R S T C A S H H O L D I N G S , I N C . RETAIL POS PAYMENT SOLUTIONS NASDAQ: FCFS
Slide 21: Retail POS Payment Solution Overview
F I R S T C A S H H O L D I N G S , I N C . P . 2 1 NASDAQ: FCFS RETAIL POS PAYMENT SOLUTION OVERVIEW As of 09/30/2024 PROVIDES PAYMENT SOLUTIONS FOR THIRD-PARTY RETAILERS AND SERVICE PROVIDERS CUSTOMERS TAKE ITEMS HOME SAME DAY OR ARRANGE FOR DELIVERY TAKE ITEMS HOME — SAME DAY! AUTO-PAY OPTION MAN
Slide 22: POS Payment Transaction Originations by Product Category
F I R S T C A S H H O L D I N G S , I N C . P . 2 2 NASDAQ: FCFS POS PAYMENT TRANSACTION ORIGINATIONS BY PRODUCT CATEGORY DOOR COUNT GROWTH & MERCHANT DIVERSIFICATION As of 09/30/2024 61% 52% 48% 40% 15% 20% 19% 22% 2% 7% 12% 5% 5% 8% 10% 19% 21% 18% 16% 0% 25% 50% 75% 100% 2021 2022 2023 YTD Q3 202
Slide 23: Q3 2024 AFF POS Payment Solutions
F I R S T C A S H H O L D I N G S , I N C . P . 2 3 NASDAQ: FCFS $401 $422 $434 $459 $460 $478 $456 $452 $465 $0 $200 $400 $600 Q3 Q4 2022 Q1 Q2 Q3 Q4 2023 Q1 Q2 Q3 $214 $221 $238 $248 $251 $251 $250 $263 $251 $250 $0 $120 $240 $360 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 PRIOR YEAR CURRENT YEAR TOT
Slide 24: Financial Highlights
NASDAQ: FCFS F I R S T C A S H H O L D I N G S , I N C . FINANCIAL HIGHLIGHTS P . 2 4
Slide 25: Consolidated Operating Highlights
F I R S T C A S H H O L D I N G S , I N C . P . 2 5 NASDAQ: FCFS $2.56 $3.04 $5.36 $4.80 $5.41 $3.01 $3.94 $5.19 $6.06 $6.62 $0.00 $2.25 $4.50 $6.75 2020 2021 2022 2023 TTM Q3 2024 EPS ADJUSTED EPS 1 $107 $125 $253 $219 $245 $125 $161 $246 $277 $300 $0 $110 $220 $330 2020 2021 2022 2023 TTM Q3 2024
Slide 26: Dividend History and Share Repurchase Program
F I R S T C A S H H O L D I N G S , I N C . P . 2 6 NASDAQ: FCFS Q3 2024 DIVIDEND INCREASED TO $0.38; ANNUALIZES TO $1.52 PER SHARE $115 MILLION REMAINING FOR FUTURE SHARE REPURCHASES UNDER THE CURRENT AUTHORIZATION (JULY 2023) CASH DIVIDEND HISTORY ACTIVE SHARE REPURCHASE PROGRAM $0.125 $0.19 $0.22
Slide 27: Growth Investments & Shareholder Payouts Since 2010
F I R S T C A S H H O L D I N G S , I N C . P . 2 7 NASDAQ: FCFSGROWTH INVESTMENTS & SHAREHOLDER PAYOUTS SINCE 2010 — $ IN MILLIONS $0 $1,400 $2,800 $4,200 STOCK REPURCHASES & DIVIDENDS ‒ OVER 17 MILLION SHARES REPURCHASED ‒ $404 MILLION IN CUMULATIVE DIVIDENDS PAID ACQUISITION INVESTMENTS ‒ 430 PAW
Slide 28: Pawn Focused Business Model and Growth Strategy
F I R S T C A S H H O L D I N G S , I N C . NASDAQ: FCFS P . 2 8 With over 12 million individual pre- owned items sold annually, we believe we are one of the largest resellers of recycled consumer products in the Americas… PAWN FOCUSED BUSINESS MODEL ‒ SMALL SECURED PAWN LOANS TO UNBANKED AND UNDERB
Slide 29: Financial Appendix
P . 2 9F I R S T C A S H H O L D I N G S , I N C . FINANCIAL APPENDIX NASDAQ: FCFS
Slide 30: Non-GAAP Financial Information
F I R S T C A S H H O L D I N G S , I N C . P . 3 0 NASDAQ: FCFSNON-GAAP FINANCIAL INFORMATION Please reference the Form 10-Q filed on 10/28/2024 for further explanation THE COMPANY USES CERTAIN FINANCIAL CALCULATIONS SUCH AS ADJUSTED NET INCOME, ADJUSTED DILUTED EARNINGS PER SHARE, EBITDA, ADJUSTED
Slide 31: Reconciliations of Non-GAAP Financial Measures to GAAP
F I R S T C A S H H O L D I N G S , I N C . P . 3 1 NASDAQ: FCFS QTD QTD QTD QTD QTD QTD QTD QTD QTD Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 AFF REVENUE, AS REPORTED $206,935 $212,668 $238,080 $247,997 $250,795 $249,628 $263,058 $251,369 $249,758 AFF PURCHASE ACCOUNTI
Slide 32: Get in Touch With Us
F I R S T C A S H H O L D I N G S , I N C . P . 3 2 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
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