EZCORP, Inc. (EZPW) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+59.7%

$45.90

vs $28.74 price

Levered DCF

$45.91

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.07

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	9.97×	6.63×	10.71×	8.66×	50.47×	-4.06×	202.35×	14.6×
P/B	1.07×	0.77×	0.61×	0.63×	0.63×	0.43×	0.48×	0.77×
P/S	0.86×	0.53×	0.44×	0.49×	0.58×	0.34×	0.42×	0.7×
EV / EBITDA	6.86×	6.24×	8.47×	7.06×	5.5×	14.82×	6.68×	6.47×
Gross margin	58.5%	58.7%	58.1%	59.6%	61.6%	54.6%	58.4%	59.3%
Operating margin	11.7%	9.7%	8.8%	8.5%	4.3%	-5.9%	5.5%	8.3%
Net margin	8.6%	7.2%	3.7%	5.7%	1.2%	-8.3%	0.3%	4.6%
Current ratio	5.61×	2.71×	3.75×	4.21×	3.94×	4.48×	6.65×	2.88×
Debt / equity	0.75×	0.7×	0.82×	0.79×	0.71×	0.7×	0.32×	0.56×
Interest coverage	6.48×	8.28×	5.6×	7.51×	1.41×	-2.15×	1.44×	2.41×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.7%	10.3%	5.2%	7.2%	1.3%	-10.5%	0.3%	5.0%
Return on invested capital	6.1%	5.8%	5.0%	4.4%	1.4%	-4.2%	2.0%	3.8%
Return on assets	5.6%	5.6%	2.6%	3.7%	0.7%	-5.7%	0.2%	3.0%
Free cash flow yield	10.1%	12.6%	13.4%	8.0%	5.4%	7.4%	18.1%	8.5%
Earnings yield	10.0%	13.5%	8.4%	11.5%	2.0%	-24.6%	0.7%	6.5%
Enterprise value	$1.4B	$1B	$848.5M	$775.6M	$646.1M	$427.7M	$438.3M	$703.9M
Net debt / EBITDA	1.46×	2.44×	3.89×	3.1×	1.91×	5.18×	1.24×	1.21×
Cash conversion cycle (days)	270	241	231	241	231	152	270	301