Firstcash Holdings, Inc. · NASDAQ:FCFS
Firstcash — Investor Presentation (February 2024)
32 slides from Firstcash's investor presentation, Feb 22, 2024
Slide 1: Investor Presentation — February 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 — F e b r u a r y 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: 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 PAWN OPERATIONS — U.S. PAWN: 29 STATES AND THE DISTRICT OF COLUMBIA — LATIN AMERICA PAWN :
Slide 4: Diversified revenue stream
F I R S T C A S H H O L D I N G S , I N C . P . 4 NASDAQ: FCFSDIVERSIFIED REVENUE STREAM PAWN FEES 21% RETAIL PAWN SALES 44% SCRAP JEWELRY SALES 4% PAWN FEES 44% SCRAP JEWELRY GROSS PROFIT 2% RETAIL PAWN GROSS PROFIT 36% $3.2B 2023 TOTAL REVENUE $1.5B 2023 NET REVENUE RETAIL POS PAYMENT SOLUTIONS 18
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: Pawn product overview
F I R S T C A S H H O L D I N G S , I N C . P . 7 NASDAQ: FCFSPAWN PRODUCT OVERVIEW $95 $258 $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 8: 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 . 8 DATA ANALYTICS DELIVER SCALABLE HIGH-PERFORMING OPERATING METRICS DATA FROM OVER 3,000 LOCATIONS CONTINUALLY CAPTURED AND REFRESHED FROM MORE THAN 12 MILLION ANNUAL RETAIL TRANSACTIONS ‒ INVENTORY SALES DATABASE PROVIDES REAL-TIME
Slide 9: 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 . 9 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 $0.0 $2.5 $5.0 $7.5 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $
Slide 10: 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 0 NASDAQ: FCFS U.S. PAWN LATAM PAWN CONSOLIDATED PAWN 37% 61%70% 50%33%57% 43%10% 19% 47%13% 23% PAWN COLLATERAL PAWN COLLATERAL PAWN COLLATERAL INVENTORY INVENTORY INVENTORY JEWELRY ELECTRONICS TOOLS SPORTING GOODS MUSICAL INSTRUMENTS OTHER PAWN COL
Slide 11: 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 . 1 1 NASDAQ: FCFS 66 123 282 595 906 2,085 2,679 2,997 1988 1989 – 1996 1997 – 2001 2002 – 2005 2006 - 2010 2011 – 2013 2014 – 2016 2017 – 2019 2020 – 2023 FIRSTCASH PAWN SEGMENT HISTORY PRIMARY LONG-TERM BUSINESS PLAN IS TO CONTINUE GROWING PAWN REVENU
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: FCFSCOMMITMENT 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 OVER 1,100 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 0 0 25 50 75 100 2018 2019 2020 2021 2022 2023 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 ‒ FAVORABLE
Slide 16: Q4 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 . P . 1 6 NASDAQ: FCFSQ4 2023 U.S. PAWN SEGMENT HIGHLIGHTS $ IN U.S. MILLIONS $339 $381 $194 $225 $0 $100 $200 $300 $400 $500 Q4 2022 Q4 2023 Q4 2022 Q4 2023 REVENUE NET REVENUE RETAIL PAWN FEES SCRAP +12% +16% $282 $344 8% 5% 6% 11% 14% 0% 8% 16% 24% $0 $12
Slide 17: Latin America Pawn segment
P . 1 7F I R S T C A S H H O L D I N G S , I N C . EL SALVADOR 14 GUATEMALA 65 COLOMBIA 14 MEXICO OPERATIONS: 1,721 STORES IN ALL 32 STATES 1,721 PAWN LOCATIONS BY COUNTRY CENTRAL + SOUTH AMERICA OPERATIONS: 93 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 $368 $417 $487 $557 $671 $553 $592 $675 $803 $368 $485 $573 $666 $803 $725 $742 $839 $892 $0 $200 $400 $600 $800 $1,000 2015 2016 2017 2018 2019 2020 2021 2022 2023 TOTAL REVENUE, USD $ CC TOTAL REVENUE, 2015 MXN @ 15.85 312 573 795 1,
Slide 19: Q4 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 . P . 1 9 NASDAQ: FCFSQ4 2023 LATAM PAWN SEGMENT HIGHLIGHTS $ IN U.S. MILLIONS $200 $223 $99 $114 $0 $60 $120 $180 $240 $300 Q4 2022 Q4 2023 Q4 2022 Q4 2023 REVENUE NET REVENUE RETAIL PAWN FEES SCRAP +12% +15% $109 $128 18% 18% 17% 14% 17% 0% 20% 40% 60% $0
Slide 20: Retail POS Payment Solutions Operations
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 OPERATIONS NASDAQ: FCFS
Slide 21: AFF acquisition expands product offerings
F I R S T C A S H H O L D I N G S , I N C . P . 2 1 NASDAQ: FCFSAFF ACQUISITION EXPANDS PRODUCT OFFERINGS ENHANCES FIRSTCASH’S CORE PAWN BUSINESS DIVERSIFYING FIRSTCASH’S BUSINESS AND PROVIDING A NEW SOURCE OF REVENUE GROWTH PROVIDES PRODUCT AND REVENUE DIVERSIFICATION UTILIZING TECHNOLOGY DRIVEN PA
Slide 22: 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 2 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 23: Q4 2023 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 9,200 11,600 $0 $6,000 $12,000 $18,000 Q4 2022 Q4 2023 $209 $203 $214 $221 $238 $248 $251 $250 $0 $100 $200 $300 Q 1 Q 2 Q 3 Q 4 20 22 Q 1 Q 2 Q 3 Q 4 20 23 DOOR COUNT REVENUES SEGMENT CONTRIBUTIONGROSS TRANSACTION VOLUME +26% $240 $27
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 $3.81 $2.56 $3.04 $5.36 $4.80 $3.89 $3.01 $3.94 $5.19 $6.06 $0.00 $2.00 $4.00 $6.00 2019 2020 2021 2022 2023 EPS ADJUSTED EPS 1 $165 $107 $125 $253 $219 $168 $125 $161 $246 $277 $0 $75 $150 $225 $300 2019 2020 2021 2022 2023 NET INCOME
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 DIVIDEND INCREASED TO $0.35; ANNUALIZES TO $1.40 PER SHARE JULY 2023 BUYBACK AUTHORIZATION PROVIDES FOR $200 MILLION OF FUTURE SHARE REPURCHASES CASH DIVIDEND HISTORY ACTIVE SHARE REPURCHASE PROGRAM $0.125 $0.19 $0.22 $0.25 $0.27 $0
Slide 27: Growth investments and 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 $1,000 $2,000 $3,000 $4,000 STOCK REPURCHASES & DIVIDENDS ‒ 17 MILLION SHARES REPURCHASED ‒ $355 MILLION IN CUMULATIVE DIVIDENDS PAID ACQUISITION INVESTMENTS ‒ 402 P
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-K filed on 02/05/2024 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: FCFSRECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES Y/EY/EY/EY/EY/E 20232022202120202019 $219,301 $253,495$124,909$106,579$164,618NET INCOME 73,54870,13841,59337,12059,993INCOME TAXES 109,161103,83245,90642,10541,9
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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