Latest Ratios: P/E Ratio 15.0x · EV/EBITDA 7.7x · ROE 12.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.7B | $1.6B | $947M | $667M | $635M | $424M | $278M | $361M | $619M | $516M | $602M |
| Enterprise Value | $2.0B | $1.9B | $1.3B | $1.1B | $975M | $648M | $428M | $442M | $751M | $637M | $820M |
| P/E Ratio → | 15.03 | 13.41 | 10.19 | 15.57 | 11.01 | 50.47 | — | 204.27 | 15.97 | 15.32 | — |
| P/S Ratio | 1.08 | 1.27 | 0.82 | 0.65 | 0.73 | 0.60 | 0.35 | 0.44 | 0.79 | 0.72 | 0.84 |
| P/B Ratio | 2.32 | 1.55 | 1.18 | 0.89 | 0.92 | 0.63 | 0.43 | 0.49 | 0.84 | 0.78 | 1.01 |
| P/FCF | 11.91 | 14.38 | 12.16 | 10.87 | 18.34 | 18.55 | 13.54 | 5.59 | 12.77 | 20.12 | 10.97 |
| P/OCF | 11.22 | 10.66 | 8.33 | 6.55 | 9.55 | 9.12 | 5.67 | 3.49 | 6.96 | 10.19 | 8.84 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.50 | 1.17 | 1.02 | 1.11 | 0.92 | 0.53 | 0.54 | 0.96 | 0.88 | 1.15 |
| EV / EBITDA | 7.67 | 10.36 | 9.22 | 8.51 | 9.11 | 5.87 | 15.22 | 5.84 | 8.11 | 8.30 | 14.18 |
| EV / EBIT | 13.18 | 11.08 | 10.40 | 15.52 | 12.55 | 16.94 | — | 12.02 | 9.01 | 9.04 | 48.68 |
| EV / FCF | — | 17.04 | 17.26 | 17.22 | 28.15 | 28.36 | 20.81 | 6.84 | 15.48 | 24.82 | 14.95 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.6% | 59.6% | 59.4% | 59.1% | 60.3% | 63.5% | 56.1% | 60.7% | 61.4% | 60.5% | 60.0% |
| Operating Margin | 11.9% | 11.9% | 9.8% | 8.9% | 8.6% | 4.4% | -6.0% | 5.8% | 8.6% | 7.4% | 4.1% |
| Net Profit Margin | 8.8% | 8.8% | 7.2% | 3.7% | 5.7% | 1.2% | -8.6% | 0.3% | 4.8% | 4.4% | -11.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.0% | 12.0% | 10.7% | 5.3% | 7.4% | 1.3% | -9.8% | 0.3% | 5.3% | 5.0% | -12.8% |
| ROA | 6.4% | 6.4% | 5.6% | 2.7% | 3.8% | 0.7% | -6.0% | 0.2% | 3.3% | 3.1% | -7.4% |
| ROIC | 7.1% | 7.1% | 6.2% | 5.3% | 4.7% | 2.1% | -3.5% | 3.3% | 4.8% | 4.4% | 2.4% |
| ROCE | 10.0% | 10.0% | 9.0% | 7.5% | 6.5% | 2.9% | -4.7% | 4.8% | 6.9% | 5.8% | 3.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.75 | 0.75 | 0.70 | 0.82 | 0.79 | 0.71 | 0.70 | 0.32 | 0.56 | 0.43 | 0.48 |
| Debt / EBITDA | 4.20 | 4.20 | 3.89 | 4.91 | 5.10 | 4.33 | 16.16 | 3.15 | 4.50 | 3.71 | 4.90 |
| Net Debt / Equity | — | 0.29 | 0.49 | 0.52 | 0.49 | 0.33 | 0.23 | 0.11 | 0.18 | 0.18 | 0.37 |
| Net Debt / EBITDA | 1.62 | 1.62 | 2.72 | 3.14 | 3.18 | 2.03 | 5.32 | 1.07 | 1.42 | 1.57 | 3.77 |
| Debt / FCF | — | 2.67 | 5.09 | 6.35 | 9.81 | 9.81 | 7.27 | 1.25 | 2.71 | 4.69 | 3.97 |
| Interest Coverage | 7.37 | 7.37 | 9.51 | 4.14 | 7.79 | 1.72 | -2.12 | 1.13 | 3.00 | 2.54 | 1.02 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.61 | 5.61 | 2.71 | 3.75 | 4.21 | 3.94 | 4.48 | 6.65 | 2.88 | 8.00 | 5.08 |
| Quick Ratio | 5.61 | 5.61 | 2.71 | 3.75 | 4.21 | 3.94 | 4.48 | 6.65 | 2.88 | 8.00 | 5.08 |
| Cash Ratio | 2.34 | 2.34 | 0.63 | 1.15 | 1.35 | 1.64 | 2.30 | 1.73 | 1.10 | 2.27 | 0.69 |
| Asset Turnover | — | 0.64 | 0.77 | 0.70 | 0.65 | 0.56 | 0.67 | 0.75 | 0.63 | 0.70 | 0.73 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.7% | 7.5% | 9.8% | 6.4% | 9.1% | 2.0% | — | 0.5% | 6.3% | 6.5% | — |
| FCF Yield | 8.4% | 7.0% | 8.2% | 9.2% | 5.5% | 5.4% | 7.4% | 17.9% | 7.8% | 5.0% | 9.1% |
| Buyback Yield | 0.4% | 0.4% | 1.3% | 2.5% | 0.3% | 0.2% | 1.9% | 0.0% | 0.0% | 0.0% | 2.0% |
| Total Shareholder Yield | 0.4% | 0.4% | 1.3% | 2.5% | 0.3% | 0.2% | 1.9% | 0.0% | 0.0% | 0.0% | 2.0% |
| Shares Outstanding | — | $83M | $84M | $81M | $82M | $56M | $55M | $56M | $58M | $54M | $54M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying EZPW stock.
EZCORP, Inc.'s current P/E ratio is 15.0x. The historical average is 18.9x. This places it at the 50th percentile of its historical range.
EZCORP, Inc.'s current EV/EBITDA is 7.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.1x.
EZCORP, Inc.'s return on equity (ROE) is 12.0%. The historical average is 5.4%.
Based on historical data, EZCORP, Inc. is trading at a P/E of 15.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
EZCORP, Inc. has 59.6% gross margin and 11.9% operating margin. Operating margin between 10-20% is typical for established companies.
EZCORP, Inc.'s Debt/EBITDA ratio is 4.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Provision volatility and fee concentration
Metrics are mathematically derived from official filings.
Premium Multiple on Fee Growth
EZCORP trades at 2.34x book and 20.25x trailing earnings, a premium to peers, reflecting market optimism about its fee-driven growth, as per latest quarterly data.
The P/B of 2.34x is well above the peer average, with FirstCash at 4.03x and Pathward at 2.30x, indicating the market prices EZCORP as a growth franchise rather than a commodity balance sheet. The forward P/E of 14.39x implies expectations of continued earnings acceleration, supported by the 24% revenue surge in 2026Q3. However, the premium may be justified only if fee income growth persists and provision costs remain controlled.
Fee Income Masks Negative NIM
ROE improved to 3.3% in 2026Q3 from 2.6% in 2025Q4, driven by fee income constituting over 99% of revenue, while NIM remains negative at -0.3%, per company filings.
The DuPont decomposition reveals that EZCORP's profitability is almost entirely dependent on non-interest income, as net interest margin is negative. Asset utilization is high due to fee generation, but leverage is moderate with equity-to-assets at 0.54. The efficiency ratio of 45.7% indicates strong cost control, but the reliance on fees exposes earnings to regulatory and competitive pressures.
Negative NIM, Improving Efficiency
NIM remains negative at -0.3% in 2026Q3, unchanged from prior quarter, while efficiency ratio improved to 45.7% from 48.0% in 2025Q4, as reported in financial statements.
The persistent negative NIM suggests that interest expense exceeds interest income, likely due to a high-cost funding structure or low-yielding assets. However, the efficiency ratio improvement indicates that revenue growth is outpacing expense growth, providing operating leverage. Investors should monitor whether the negative NIM widens as the loan book expands, which could pressure overall profitability.
Equity Cushion Stable, No Dividends
Equity-to-assets ratio held at 0.54 in 2026Q3, with equity up 50% year-over-year to $1.2B, indicating a solid capital position, though no dividends are paid, per balance sheet data.
The stable equity ratio suggests adequate capital to support asset growth, which accelerated 47% year-over-year. The lack of dividends and modest buybacks ($8.0M in 2026Q3) indicate that capital is being retained to fund expansion. However, the absence of regulatory capital ratios (CET1, Tier 1) in the data limits a full assessment of regulatory adequacy, but the high equity cushion appears healthy.
Provisions Scale with Loan Growth
Loan loss provisions surged 38% year-over-year to $164.2M in 2026Q3, while total assets grew 47%, indicating credit risk is expanding with the loan book, as per latest quarterly data.
The provision growth is proportional to asset growth, suggesting that credit quality is being maintained relative to the expanding portfolio. However, the absolute level of provisions is high, and if charge-offs rise, reserve adequacy could be tested. The negative NIM and reliance on fee income may not provide sufficient buffer against credit deterioration, warranting close monitoring of NPL trends.
P/E Misleads on Earnings Quality
The P/E ratio of 20.25x is distorted by provision volatility and fee concentration, obscuring the negative NIM and reliance on non-interest income, as reported in financial statements.
For EZCORP, the P/E ratio is commonly misapplied because earnings are heavily influenced by loan loss provisions, which can fluctuate significantly, and by fee income that may be subject to regulatory changes. A more appropriate metric is P/TBV, which at 4.22x (based on tangible book value per share of $6.81) reflects the market's valuation of the fee-generating business. Investors should also consider the stability of fee income and the sustainability of provision levels when assessing valuation.