Ezcorp Inc. (EZPW) intrinsic value & 10-year financials
Ezcorp Inc. (EZPW) has a Graham intrinsic value of $38.84 per share. At $33.00 on Oct 17, 2026, the stock trades 15% below that value. Over the last 10 fiscal years revenue grew 6.4% a year to $1.3B, with an average return on invested capital of 4.2%.
- Graham intrinsic value
- $38.84
- Share price (Oct 17, 2026)
- $33.00
- Price vs Graham value
- 15% below
- Market cap
- $2.8B
- Revenue (FY2025)
- $1.3B
- Revenue growth (10-yr CAGR)
- 6.4%
- ROIC (10-yr avg)
- 4.2%
- Free cash flow (FY2025)
- $110.4M
EZPW 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.3B | $109.6M | $1.42 | $110.4M | 11.7% | 9.3% |
| FY2024 | $1.2B | $83.1M | $1.10 | $77.8M | 9.7% | 7.3% |
| FY2023 | $1.0B | $38.5M | $0.53 | $61.4M | 8.8% | 6.7% |
| FY2022 | $886.2M | $50.2M | $0.70 | $34.6M | 8.5% | 6.1% |
| FY2021 | $729.6M | $8.6M | $0.15 | $22.8M | 4.3% | 2.1% |
| FY2020 | $822.8M | -$68.5M | -$1.24 | $20.6M | -5.9% | -6.0% |
| FY2019 | $847.2M | $2.5M | $0.04 | $64.7M | 5.5% | 2.8% |
| FY2018 | $812.2M | $39.1M | $0.68 | $48.2M | 8.5% | 5.6% |
| FY2017 | $748.0M | $31.9M | $0.59 | $33.0M | 7.2% | 5.0% |
| FY2016 | $730.5M | -$80.7M | -$1.49 | $54.9M | 4.0% | 3.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
EZCORP INC has demonstrated mature, steady growth, with revenue compounding at 6.4% annually over the past decade.
EZCORP INC has historically struggled to out-earn its cost of capital, averaging just 4.2% ROIC.
EZCORP INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, EZCORP INC is modeled at 11.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $38.84 per share.