Company: FCFS
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000840489-25-000120
Chunk: 132

Company: FirstCash Holdings, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 132
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As of September 30,20252024Working capital $1,433,101 $1,020,877 Current ratio5.0:14.3:1

41

Cash Flow Provided by Operating Activities

Net cash provided by operating activities increased $37.5 million, or 11%, from $341.8 million for the nine months ended September 30, 2024 to $379.3 million for the nine months ended September 30, 2025 due to net changes in certain non-cash adjustments to reconcile net income to operating cash flow and net changes in other operating assets and liabilities (as detailed in the consolidated statements of cash flows) and an increase in net income of $50.9 million.

Cash Flow Used in Investing Activities

Net cash used in investing activities increased $326.9 million, or 97%, from $335.5 million for the nine months ended September 30, 2024 to $662.4 million for the nine months ended September 30, 2025. Cash flows from investing activities are utilized primarily to fund pawn store acquisitions, purchase furniture, fixtures, equipment and improvements, which includes capital expenditures for improvements to existing stores and for new pawn store openings and other corporate assets, and discretionary purchases of store real property. In addition, cash flows related to the funding of new pawn loans, net of cash repayments and recovery of principal through the sale of inventories acquired from forfeiture of pawn collateral and changes in net finance receivables, are included in investing activities. The Company paid $37.4 million for furniture, fixtures, equipment and improvements and $44.2 million for discretionary pawn store real property purchases during the nine months ended September 30, 2025 compared to $56.0 million and $54.3 million in the prior-year period, respectively. The Company paid $406.9 million in cash related to pawn store acquisitions during the nine months ended September 30, 2025 compared to $69.2 million during the nine months ended September 30, 2024. The Company funded a net increase in pawn loans of $98.7 million during the nine months ended September 30, 2025 and $69.7 million during the nine months ended September 30, 2024. The Company funded a net increase in finance receivables of $75.2 million during the nine months ended September 30, 2025 and $86.2 million during the nine months ended September 30,