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Side-by-side financial comparison of FirstCash Holdings, Inc. (FCFS) and UL Solutions Inc. (ULS). Click either name above to swap in a different company.
UL Solutions Inc. is the larger business by last-quarter revenue ($789.0M vs $501.3M, roughly 1.6× FirstCash Holdings, Inc.). FirstCash Holdings, Inc. runs the higher net margin — 20.8% vs 8.5%, a 12.3% gap on every dollar of revenue. On growth, FirstCash Holdings, Inc. posted the faster year-over-year revenue change (21.2% vs 6.8%). Over the past eight quarters, FirstCash Holdings, Inc.'s revenue compounded faster (16.9% CAGR vs 8.5%).
FirstCash Holdings, Inc. is an American pawnshop company headquartered in Fort Worth, Texas which operates retail pawn stores in the U.S. and Latin America. It is a publicly traded company listed on the Nasdaq stock exchange.
The UL enterprise is a global private safety company headquartered in Northbrook, Illinois, composed of three organizations, UL Research Institutes, UL Standards & Engagement and UL Solutions.
FCFS vs ULS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $501.3M | $789.0M |
| Net Profit | $104.2M | $67.0M |
| Gross Margin | — | 49.7% |
| Operating Margin | 28.5% | 15.0% |
| Net Margin | 20.8% | 8.5% |
| Revenue YoY | 21.2% | 6.8% |
| Net Profit YoY | 24.7% | -17.3% |
| EPS (diluted) | $2.35 | $0.33 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $501.3M | $789.0M | ||
| Q3 25 | $411.0M | $783.0M | ||
| Q2 25 | $385.1M | $776.0M | ||
| Q1 25 | $371.1M | $705.0M | ||
| Q4 24 | $413.7M | $739.0M | ||
| Q3 24 | $363.1M | $731.0M | ||
| Q2 24 | $363.5M | $730.0M | ||
| Q1 24 | $366.8M | $670.0M |
| Q4 25 | $104.2M | $67.0M | ||
| Q3 25 | $82.8M | $100.0M | ||
| Q2 25 | $59.8M | $91.0M | ||
| Q1 25 | $83.6M | $67.0M | ||
| Q4 24 | $83.5M | $81.0M | ||
| Q3 24 | $64.8M | $88.0M | ||
| Q2 24 | $49.1M | $101.0M | ||
| Q1 24 | $61.4M | $56.0M |
| Q4 25 | — | 49.7% | ||
| Q3 25 | — | 50.3% | ||
| Q2 25 | — | 49.4% | ||
| Q1 25 | — | 48.4% | ||
| Q4 24 | — | 47.4% | ||
| Q3 24 | — | 49.0% | ||
| Q2 24 | — | 50.1% | ||
| Q1 24 | — | 47.6% |
| Q4 25 | 28.5% | 15.0% | ||
| Q3 25 | 27.4% | 19.9% | ||
| Q2 25 | 21.1% | 17.9% | ||
| Q1 25 | 30.0% | 15.5% | ||
| Q4 24 | 26.5% | 15.6% | ||
| Q3 24 | 23.5% | 17.8% | ||
| Q2 24 | 18.2% | 17.3% | ||
| Q1 24 | 22.3% | 13.6% |
| Q4 25 | 20.8% | 8.5% | ||
| Q3 25 | 20.1% | 12.8% | ||
| Q2 25 | 15.5% | 11.7% | ||
| Q1 25 | 22.5% | 9.5% | ||
| Q4 24 | 20.2% | 11.0% | ||
| Q3 24 | 17.9% | 12.0% | ||
| Q2 24 | 13.5% | 13.8% | ||
| Q1 24 | 16.7% | 8.4% |
| Q4 25 | $2.35 | $0.33 | ||
| Q3 25 | $1.86 | $0.49 | ||
| Q2 25 | $1.34 | $0.45 | ||
| Q1 25 | $1.87 | $0.33 | ||
| Q4 24 | $1.86 | $0.40 | ||
| Q3 24 | $1.44 | $0.44 | ||
| Q2 24 | $1.08 | $0.50 | ||
| Q1 24 | $1.35 | $0.28 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $125.2M | $295.0M |
| Total DebtLower is stronger | $2.2B | $491.0M |
| Stockholders' EquityBook value | $2.3B | $1.3B |
| Total Assets | $5.3B | $2.9B |
| Debt / EquityLower = less leverage | 0.98× | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.2M | $295.0M | ||
| Q3 25 | $130.2M | $255.0M | ||
| Q2 25 | $101.5M | $272.0M | ||
| Q1 25 | $146.0M | $267.0M | ||
| Q4 24 | $175.1M | $298.0M | ||
| Q3 24 | $106.3M | $327.0M | ||
| Q2 24 | $113.7M | $295.0M | ||
| Q1 24 | $135.1M | $344.0M |
| Q4 25 | $2.2B | $491.0M | ||
| Q3 25 | $2.2B | $544.0M | ||
| Q2 25 | $1.7B | $608.0M | ||
| Q1 25 | $1.7B | $653.0M | ||
| Q4 24 | $1.7B | $742.0M | ||
| Q3 24 | $1.7B | $797.0M | ||
| Q2 24 | $1.7B | $810.0M | ||
| Q1 24 | $1.5B | $879.0M |
| Q4 25 | $2.3B | $1.3B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.1B | $1.1B | ||
| Q1 25 | $2.1B | $970.0M | ||
| Q4 24 | $2.1B | $904.0M | ||
| Q3 24 | $2.0B | $872.0M | ||
| Q2 24 | $2.0B | $769.0M | ||
| Q1 24 | $2.0B | $671.0M |
| Q4 25 | $5.3B | $2.9B | ||
| Q3 25 | $5.2B | $2.9B | ||
| Q2 25 | $4.5B | $2.9B | ||
| Q1 25 | $4.4B | $2.9B | ||
| Q4 24 | $4.5B | $2.8B | ||
| Q3 24 | $4.4B | $2.9B | ||
| Q2 24 | $4.3B | $2.7B | ||
| Q1 24 | $4.2B | $2.8B |
| Q4 25 | 0.98× | 0.39× | ||
| Q3 25 | 1.01× | 0.46× | ||
| Q2 25 | 0.79× | 0.56× | ||
| Q1 25 | 0.83× | 0.67× | ||
| Q4 24 | 0.85× | 0.82× | ||
| Q3 24 | 0.87× | 0.91× | ||
| Q2 24 | 0.85× | 1.05× | ||
| Q1 24 | 0.75× | 1.31× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $206.6M | $144.0M |
| Free Cash FlowOCF − Capex | — | $86.0M |
| FCF MarginFCF / Revenue | — | 10.9% |
| Capex IntensityCapex / Revenue | — | 7.4% |
| Cash ConversionOCF / Net Profit | 1.98× | 2.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $403.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $206.6M | $144.0M | ||
| Q3 25 | $135.8M | $155.0M | ||
| Q2 25 | $116.9M | $147.0M | ||
| Q1 25 | $126.6M | $154.0M | ||
| Q4 24 | $198.1M | $130.0M | ||
| Q3 24 | $113.1M | $150.0M | ||
| Q2 24 | $106.2M | $103.0M | ||
| Q1 24 | $122.5M | $141.0M |
| Q4 25 | — | $86.0M | ||
| Q3 25 | — | $109.0M | ||
| Q2 25 | — | $105.0M | ||
| Q1 25 | — | $103.0M | ||
| Q4 24 | — | $72.0M | ||
| Q3 24 | — | $84.0M | ||
| Q2 24 | — | $47.0M | ||
| Q1 24 | — | $84.0M |
| Q4 25 | — | 10.9% | ||
| Q3 25 | — | 13.9% | ||
| Q2 25 | — | 13.5% | ||
| Q1 25 | — | 14.6% | ||
| Q4 24 | — | 9.7% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | 6.4% | ||
| Q1 24 | — | 12.5% |
| Q4 25 | — | 7.4% | ||
| Q3 25 | — | 5.9% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 9.0% | ||
| Q2 24 | — | 7.7% | ||
| Q1 24 | — | 8.5% |
| Q4 25 | 1.98× | 2.15× | ||
| Q3 25 | 1.64× | 1.55× | ||
| Q2 25 | 1.95× | 1.62× | ||
| Q1 25 | 1.51× | 2.30× | ||
| Q4 24 | 2.37× | 1.60× | ||
| Q3 24 | 1.74× | 1.70× | ||
| Q2 24 | 2.16× | 1.02× | ||
| Q1 24 | 2.00× | 2.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
ULS
| Industrial | $352.0M | 45% |
| Ongoing Certification Services | $259.0M | 33% |
| Software And Advisory | $102.0M | 13% |
| Software | $75.0M | 10% |
