Company: FCFS
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000840489-25-000032
Chunk: 17

Company: FirstCash Holdings, Inc.
Filing Date: 2025-02-03
Form: 10-K
Item: Item 7
Chunk 17
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(2)%Operating metrics:Retail merchandise sales margin35 %35 %35 %Net revenue margin53 %52 %53 %Segment pre-tax operating margin19 %19 %18 %

50

The following table details earning assets, which consist of pawn loans and inventories as well as other earning asset metrics of the Latin America pawn segment, as of December 31, 2024 as compared to December 31, 2023 (dollars in thousands, except as otherwise noted): 

Constant Currency BasisAs ofDecember 31,As of December 31,2024Increase 20242023(Decrease)(Non-GAAP)(Non-GAAP)Latin America Pawn Segment    Earning assets:Pawn loans$121,200 $127,694 (5)%$143,805 13 %Inventories89,088 90,246 (1)%105,686 17 %$210,288 $217,940 (4)%$249,491 14 %Average outstanding pawn loan amount  (in ones)$87 $95 (8)%$103 8 %Composition of pawn collateral:General merchandise58 %63 %Jewelry42 %37 %100 %100 %Composition of inventories:General merchandise65 %67 %Jewelry35 %33 %100 %100 %Percentage of inventory aged greater than one year1 %1 %Inventory turnover (trailing twelve months cost of merchandise sales divided by average inventories)4.2 times4.4 timesStore count1,826 1,814 1 %Average store count1,821 1,791 2 %

Retail Merchandise Sales Operations

Latin America retail merchandise sales increased 2% (4% on a constant currency basis) to $541.8 million during 2024 compared to $533.6 million for 2023. Same-store retail sales increased 1% (4% on a constant currency basis) during 2024 compared to 2023. The increase in total and same-store retail sales was primarily due to increased inventory levels throughout 2024 and greater demand for value-priced, pre-owned merchandise. The gross profit margin on retail merchandise sales was 35% during both 2024 and 2023. 

Latin America inventories decreased 1% (17% increase on a constant currency basis) to $89