Forensic Analysis · Retail / Consumer Discretionary · as of Aug 11, 2026

Firstcash Holdings, Inc. (FCFS)

A forensic read on Firstcash Holdings, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

6.5

Distress distance

Clean

Earnings quality

Forensic signals

23.0

P / E (ttm)

14.5%

ROE

$9.1B

Market cap

0.82%

Dividend yield

8.0%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Firstcash Holdings, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 6.5, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by inventory days.

What the filings flag

82d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 67 to 82 FY2024→FY2025 (against cost of goods sold; inventory +46% vs +3% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.

+18.9%

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets grew +18.9% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +58% against revenue +8% and inventory up +46% against +3% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 6% of net operating assets, diverging from the balance-sheet accrual read.

6.9%

FY2025

Return on invested capital. Return on invested capital is 6.9% in the latest fiscal year and slipping from 9% — slightly below its ~9% cost of capital — reinvestment is roughly a wash.

Key fundamentals

Latest Revenue$3.66B

Revenue Growth YoY+8.0%

Revenue CAGR (3yr)+10.3%

Net Margin9.0%

Free Cash Flow$531.0M

Return on Equity14.5%

Debt / Equity0.97x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.