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FirstCash Holdings, Inc.（FCFS）与怡安集团（RYAN）财务数据对比。点击上方公司名可切换其他公司
怡安集团的季度营收约是FirstCash Holdings, Inc.的1.5倍（$738.0M vs $501.3M），FirstCash Holdings, Inc.净利率更高（20.8% vs 1.1%，领先19.7%），FirstCash Holdings, Inc.同比增速更快（21.2% vs 13.6%），过去两年怡安集团的营收复合增速更高（17.1% vs 16.9%）
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
怡安集团是一家业务横跨英美两国的专业服务企业，目前主要开展两大板块业务：风险资本板块提供风险管理、保险及再保险领域的经纪与咨询服务；人力资本板块则提供健康保险、退休计划、养老金计划与人才咨询相关服务。
FCFS vs RYAN — 直观对比
营收规模更大
RYAN
是对方的1.5倍
$501.3M
营收增速更快
FCFS
高出7.5%
13.6%
净利率更高
FCFS
高出19.7%
1.1%
两年增速更快
RYAN
近两年复合增速
16.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $501.3M | $738.0M |
| 净利润 | $104.2M | $8.0M |
| 毛利率 | — | — |
| 营业利润率 | 28.5% | 12.4% |
| 净利率 | 20.8% | 1.1% |
| 营收同比 | 21.2% | 13.6% |
| 净利润同比 | 24.7% | -42.0% |
| 每股收益（稀释后） | $2.35 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收FCFSRYAN
| Q4 25 | $501.3M | $738.0M | ||
| Q3 25 | $411.0M | $739.6M | ||
| Q2 25 | $385.1M | $840.9M | ||
| Q1 25 | $371.1M | $676.1M | ||
| Q4 24 | $413.7M | $649.4M | ||
| Q3 24 | $363.1M | $588.1M | ||
| Q2 24 | $363.5M | $680.2M | ||
| Q1 24 | $366.8M | $537.9M |
净利润FCFSRYAN
| Q4 25 | $104.2M | $8.0M | ||
| Q3 25 | $82.8M | $31.1M | ||
| Q2 25 | $59.8M | $52.0M | ||
| Q1 25 | $83.6M | $-27.6M | ||
| Q4 24 | $83.5M | $13.8M | ||
| Q3 24 | $64.8M | $17.6M | ||
| Q2 24 | $49.1M | $46.8M | ||
| Q1 24 | $61.4M | $16.5M |
营业利润率FCFSRYAN
| Q4 25 | 28.5% | 12.4% | ||
| Q3 25 | 27.4% | 15.0% | ||
| Q2 25 | 21.1% | 22.7% | ||
| Q1 25 | 30.0% | 14.8% | ||
| Q4 24 | 26.5% | 16.8% | ||
| Q3 24 | 23.5% | 13.9% | ||
| Q2 24 | 18.2% | 24.2% | ||
| Q1 24 | 22.3% | 13.5% |
净利率FCFSRYAN
| Q4 25 | 20.8% | 1.1% | ||
| Q3 25 | 20.1% | 4.2% | ||
| Q2 25 | 15.5% | 6.2% | ||
| Q1 25 | 22.5% | -4.1% | ||
| Q4 24 | 20.2% | 2.1% | ||
| Q3 24 | 17.9% | 3.0% | ||
| Q2 24 | 13.5% | 6.9% | ||
| Q1 24 | 16.7% | 3.1% |
每股收益（稀释后）FCFSRYAN
| Q4 25 | $2.35 | — | ||
| Q3 25 | $1.86 | — | ||
| Q2 25 | $1.34 | — | ||
| Q1 25 | $1.87 | — | ||
| Q4 24 | $1.86 | — | ||
| Q3 24 | $1.44 | — | ||
| Q2 24 | $1.08 | — | ||
| Q1 24 | $1.35 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $125.2M | $158.3M |
| 总债务越低越好 | $2.2B | $3.3B |
| 股东权益账面价值 | $2.3B | $648.1M |
| 总资产 | $5.3B | $10.6B |
| 负债/权益比越低杠杆越低 | 0.98× | 5.16× |
8季度趋势，按日历期对齐
现金及短期投资FCFSRYAN
| Q4 25 | $125.2M | $158.3M | ||
| Q3 25 | $130.2M | $153.5M | ||
| Q2 25 | $101.5M | $172.6M | ||
| Q1 25 | $146.0M | $203.5M | ||
| Q4 24 | $175.1M | $540.2M | ||
| Q3 24 | $106.3M | $235.2M | ||
| Q2 24 | $113.7M | $1.7B | ||
| Q1 24 | $135.1M | $1.6B |
总债务FCFSRYAN
| Q4 25 | $2.2B | $3.3B | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $3.3B | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.5B | — |
股东权益FCFSRYAN
| Q4 25 | $2.3B | $648.1M | ||
| Q3 25 | $2.2B | $630.5M | ||
| Q2 25 | $2.1B | $610.1M | ||
| Q1 25 | $2.1B | $542.5M | ||
| Q4 24 | $2.1B | $627.7M | ||
| Q3 24 | $2.0B | $632.8M | ||
| Q2 24 | $2.0B | $605.9M | ||
| Q1 24 | $2.0B | $554.4M |
总资产FCFSRYAN
| Q4 25 | $5.3B | $10.6B | ||
| Q3 25 | $5.2B | $9.9B | ||
| Q2 25 | $4.5B | $10.6B | ||
| Q1 25 | $4.4B | $9.9B | ||
| Q4 24 | $4.5B | $9.6B | ||
| Q3 24 | $4.4B | $8.5B | ||
| Q2 24 | $4.3B | $8.3B | ||
| Q1 24 | $4.2B | $7.1B |
负债/权益比FCFSRYAN
| Q4 25 | 0.98× | 5.16× | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 0.79× | — | ||
| Q1 25 | 0.83× | — | ||
| Q4 24 | 0.85× | 5.22× | ||
| Q3 24 | 0.87× | — | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | 0.75× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $206.6M | $263.2M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 0.0% |
| 现金转化率经营现金流/净利润 | 1.98× | 32.99× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流FCFSRYAN
| Q4 25 | $206.6M | $263.2M | ||
| Q3 25 | $135.8M | $169.7M | ||
| Q2 25 | $116.9M | $353.6M | ||
| Q1 25 | $126.6M | $-142.8M | ||
| Q4 24 | $198.1M | $259.6M | ||
| Q3 24 | $113.1M | $100.9M | ||
| Q2 24 | $106.2M | $270.8M | ||
| Q1 24 | $122.5M | $-116.5M |
自由现金流FCFSRYAN
| Q4 25 | — | — | ||
| Q3 25 | — | $167.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-143.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率FCFSRYAN
| Q4 25 | — | — | ||
| Q3 25 | — | 22.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度FCFSRYAN
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
现金转化率FCFSRYAN
| Q4 25 | 1.98× | 32.99× | ||
| Q3 25 | 1.64× | 5.46× | ||
| Q2 25 | 1.95× | 6.80× | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 2.37× | 18.88× | ||
| Q3 24 | 1.74× | 5.74× | ||
| Q2 24 | 2.16× | 5.79× | ||
| Q1 24 | 2.00× | -7.05× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
RYAN
| Wholesale Brokerage | $385.7M | 52% |
| Underwriting Management | $268.3M | 36% |
| Binding Authorities | $84.0M | 11% |
