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FirstCash Holdings, Inc.（FCFS）与环球音乐集团（ULH）财务数据对比。点击上方公司名可切换其他公司
FirstCash Holdings, Inc.的季度营收约是环球音乐集团的1.3倍（$501.3M vs $385.4M），FirstCash Holdings, Inc.净利率更高（20.8% vs 1.0%，领先19.8%），FirstCash Holdings, Inc.同比增速更快（21.2% vs -17.1%），过去两年FirstCash Holdings, Inc.的营收复合增速更高（16.9% vs -11.5%）
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。
环球音乐集团是依据荷兰法律成立的跨国音乐企业集团，企业总部设在荷兰希尔弗瑟姆，运营总部位于美国加利福尼亚州圣莫尼卡。作为全球规模最大的音乐公司，它与索尼音乐娱乐、华纳音乐集团并称为三大唱片巨头。2020年腾讯斥资30亿欧元收购了其百分之二十的股份。
FCFS vs ULH — 直观对比
营收规模更大
FCFS
是对方的1.3倍
$385.4M
营收增速更快
FCFS
高出38.3%
-17.1%
净利率更高
FCFS
高出19.8%
1.0%
两年增速更快
FCFS
近两年复合增速
-11.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $501.3M | $385.4M |
| 净利润 | $104.2M | $3.7M |
| 毛利率 | — | — |
| 营业利润率 | 28.5% | 4.5% |
| 净利率 | 20.8% | 1.0% |
| 营收同比 | 21.2% | -17.1% |
| 净利润同比 | 24.7% | -81.5% |
| 每股收益（稀释后） | $2.35 | $0.14 |
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FCFSULH
| Q4 25 | $501.3M | $385.4M | ||
| Q3 25 | $411.0M | $396.8M | ||
| Q2 25 | $385.1M | $393.8M | ||
| Q1 25 | $371.1M | $382.4M | ||
| Q4 24 | $413.7M | $465.1M | ||
| Q3 24 | $363.1M | $426.8M | ||
| Q2 24 | $363.5M | $462.2M | ||
| Q1 24 | $366.8M | $491.9M |
净利润FCFSULH
| Q4 25 | $104.2M | $3.7M | ||
| Q3 25 | $82.8M | $-117.9M | ||
| Q2 25 | $59.8M | $8.3M | ||
| Q1 25 | $83.6M | $6.0M | ||
| Q4 24 | $83.5M | $20.2M | ||
| Q3 24 | $64.8M | $26.5M | ||
| Q2 24 | $49.1M | $30.7M | ||
| Q1 24 | $61.4M | $52.5M |
营业利润率FCFSULH
| Q4 25 | 28.5% | 4.5% | ||
| Q3 25 | 27.4% | -29.6% | ||
| Q2 25 | 21.1% | 5.1% | ||
| Q1 25 | 30.0% | 4.1% | ||
| Q4 24 | 26.5% | 8.2% | ||
| Q3 24 | 23.5% | 10.0% | ||
| Q2 24 | 18.2% | 10.2% | ||
| Q1 24 | 22.3% | 15.3% |
净利率FCFSULH
| Q4 25 | 20.8% | 1.0% | ||
| Q3 25 | 20.1% | -29.7% | ||
| Q2 25 | 15.5% | 2.1% | ||
| Q1 25 | 22.5% | 1.6% | ||
| Q4 24 | 20.2% | 4.3% | ||
| Q3 24 | 17.9% | 6.2% | ||
| Q2 24 | 13.5% | 6.7% | ||
| Q1 24 | 16.7% | 10.7% |
每股收益（稀释后）FCFSULH
| Q4 25 | $2.35 | $0.14 | ||
| Q3 25 | $1.86 | $-4.48 | ||
| Q2 25 | $1.34 | $0.32 | ||
| Q1 25 | $1.87 | $0.23 | ||
| Q4 24 | $1.86 | $0.76 | ||
| Q3 24 | $1.44 | $1.01 | ||
| Q2 24 | $1.08 | $1.17 | ||
| Q1 24 | $1.35 | $1.99 |
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 | $26.8M |
| 总债务越低越好 | $2.2B | $797.6M |
| 股东权益账面价值 | $2.3B | $540.4M |
| 总资产 | $5.3B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.98× | 1.48× |
8季度趋势，按日历期对齐
现金及短期投资FCFSULH
| Q4 25 | $125.2M | $26.8M | ||
| Q3 25 | $130.2M | $27.4M | ||
| Q2 25 | $101.5M | $24.3M | ||
| Q1 25 | $146.0M | $20.6M | ||
| Q4 24 | $175.1M | $19.4M | ||
| Q3 24 | $106.3M | $11.8M | ||
| Q2 24 | $113.7M | $7.5M | ||
| Q1 24 | $135.1M | $11.1M |
总债务FCFSULH
| Q4 25 | $2.2B | $797.6M | ||
| Q3 25 | $2.2B | $824.2M | ||
| Q2 25 | $1.7B | $795.5M | ||
| Q1 25 | $1.7B | $736.7M | ||
| Q4 24 | $1.7B | $759.1M | ||
| Q3 24 | $1.7B | $557.4M | ||
| Q2 24 | $1.7B | $483.8M | ||
| Q1 24 | $1.5B | $414.1M |
股东权益FCFSULH
| Q4 25 | $2.3B | $540.4M | ||
| Q3 25 | $2.2B | $534.9M | ||
| Q2 25 | $2.1B | $653.7M | ||
| Q1 25 | $2.1B | $646.4M | ||
| Q4 24 | $2.1B | $647.0M | ||
| Q3 24 | $2.0B | $631.0M | ||
| Q2 24 | $2.0B | $608.9M | ||
| Q1 24 | $2.0B | $583.9M |
总资产FCFSULH
| Q4 25 | $5.3B | $1.8B | ||
| Q3 25 | $5.2B | $1.8B | ||
| Q2 25 | $4.5B | $1.9B | ||
| Q1 25 | $4.4B | $1.8B | ||
| Q4 24 | $4.5B | $1.8B | ||
| Q3 24 | $4.4B | $1.6B | ||
| Q2 24 | $4.3B | $1.5B | ||
| Q1 24 | $4.2B | $1.4B |
负债/权益比FCFSULH
| Q4 25 | 0.98× | 1.48× | ||
| Q3 25 | 1.01× | 1.54× | ||
| Q2 25 | 0.79× | 1.22× | ||
| Q1 25 | 0.83× | 1.14× | ||
| Q4 24 | 0.85× | 1.17× | ||
| Q3 24 | 0.87× | 0.88× | ||
| Q2 24 | 0.85× | 0.79× | ||
| Q1 24 | 0.75× | 0.71× |
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 | $47.1M |
| 自由现金流经营现金流 - 资本支出 | — | $14.3M |
| 自由现金流率自由现金流/营收 | — | 3.7% |
| 资本支出强度资本支出/营收 | — | 8.5% |
| 现金转化率经营现金流/净利润 | 1.98× | 12.62× |
| 过去12个月自由现金流最近4个季度 | — | $-41.1M |
8季度趋势，按日历期对齐
经营现金流FCFSULH
| Q4 25 | $206.6M | $47.1M | ||
| Q3 25 | $135.8M | $25.9M | ||
| Q2 25 | $116.9M | $25.7M | ||
| Q1 25 | $126.6M | $84.3M | ||
| Q4 24 | $198.1M | $59.7M | ||
| Q3 24 | $113.1M | $6.2M | ||
| Q2 24 | $106.2M | $9.6M | ||
| Q1 24 | $122.5M | $36.9M |
自由现金流FCFSULH
| Q4 25 | — | $14.3M | ||
| Q3 25 | — | $-28.6M | ||
| Q2 25 | — | $-58.5M | ||
| Q1 25 | — | $31.7M | ||
| Q4 24 | — | $18.9M | ||
| Q3 24 | — | $-58.9M | ||
| Q2 24 | — | $-67.6M | ||
| Q1 24 | — | $-31.7M |
自由现金流率FCFSULH
| Q4 25 | — | 3.7% | ||
| Q3 25 | — | -7.2% | ||
| Q2 25 | — | -14.9% | ||
| Q1 25 | — | 8.3% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | — | -13.8% | ||
| Q2 24 | — | -14.6% | ||
| Q1 24 | — | -6.4% |
资本支出强度FCFSULH
| Q4 25 | — | 8.5% | ||
| Q3 25 | — | 13.7% | ||
| Q2 25 | — | 21.4% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | 8.8% | ||
| Q3 24 | — | 15.3% | ||
| Q2 24 | — | 16.7% | ||
| Q1 24 | — | 13.9% |
现金转化率FCFSULH
| Q4 25 | 1.98× | 12.62× | ||
| Q3 25 | 1.64× | — | ||
| Q2 25 | 1.95× | 3.09× | ||
| Q1 25 | 1.51× | 14.02× | ||
| Q4 24 | 2.37× | 2.96× | ||
| Q3 24 | 1.74× | 0.23× | ||
| Q2 24 | 2.16× | 0.31× | ||
| Q1 24 | 2.00× | 0.70× |
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% |
ULH
| Value Added Services | $183.7M | 48% |
| Dedicated Services | $84.9M | 22% |
| Intermodal | $52.7M | 14% |
| Truckload Services | $48.8M | 13% |
| Brokerage Services | $16.1M | 4% |
