FirstCash Holdings, Inc. — Earnings Quality Grade F
FCFS · Financial Services
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 12 days, change +4 days YoY
AR growth 58.0% exceeds revenue growth 8.0%
Revenue 8.0%, CFFO 8.5%. Cash follows revenue
Expense Quality
Inventory growth 45.6% far exceeds COGS 3.5%, margin rising. Fraud signal
CapEx growth -19.5% vs revenue 8.0%. Normal
SG&A/Gross Profit = 12.7%, excellent (<30%)
Gross margin 50.3%, change +2.2pp. Stable
Cash Flow Quality
CFFO/NI = 1.77. Profits backed by cash
FCF $0.5B, FCF/NI = 1.61
Accruals ratio = -4.8%. Low accruals
Cash $0.1B covers only 5% of debt $2.6B
Balance Sheet Health
Goodwill+Intangibles $2.3B = 99% of equity. Over 50%
Debt/EBITDA = 2.6x. Healthy
Other assets -1.4% vs revenue 8.0%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 12% YoY. Normal
Manipulation Score
M-Score = -2.28 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score — Not Applicable
FirstCash Holdings, Inc. is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25