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FirstCash Holdings, Inc.（FCFS）与ADVANCED DRAINAGE SYSTEMS, INC.（WMS）财务数据对比。点击上方公司名可切换其他公司
ADVANCED DRAINAGE SYSTEMS, INC.的季度营收约是FirstCash Holdings, Inc.的1.4倍（$693.4M vs $501.3M），FirstCash Holdings, Inc.净利率更高（20.8% vs 13.5%，领先7.3%），FirstCash Holdings, Inc.同比增速更快（21.2% vs 0.4%），过去两年FirstCash Holdings, Inc.的营收复合增速更高（16.9% vs 3.0%）
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。
Advanced Drainage Systems（简称ADS）是一家美国企业，主营聚丙烯、聚乙烯管材，塑料渗滤场系统、化粪池及配套配件、雨水调蓄设施、PVC排水构件、管件、水过滤与分离设备的设计、生产及销售，是美国规模最大的高密度聚乙烯管道生产商，总部位于俄亥俄州希利厄德。
FCFS vs WMS — 直观对比
营收规模更大
WMS
是对方的1.4倍
$501.3M
营收增速更快
FCFS
高出20.8%
0.4%
净利率更高
FCFS
高出7.3%
13.5%
两年增速更快
FCFS
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $501.3M | $693.4M |
| 净利润 | $104.2M | $93.6M |
| 毛利率 | — | 37.4% |
| 营业利润率 | 28.5% | 19.7% |
| 净利率 | 20.8% | 13.5% |
| 营收同比 | 21.2% | 0.4% |
| 净利润同比 | 24.7% | 15.3% |
| 每股收益（稀释后） | $2.35 | $1.19 |
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FCFSWMS
| Q4 25 | $501.3M | $693.4M | ||
| Q3 25 | $411.0M | $850.4M | ||
| Q2 25 | $385.1M | $829.9M | ||
| Q1 25 | $371.1M | $615.8M | ||
| Q4 24 | $413.7M | $690.5M | ||
| Q3 24 | $363.1M | $782.6M | ||
| Q2 24 | $363.5M | $815.3M | ||
| Q1 24 | $366.8M | $653.8M |
净利润FCFSWMS
| Q4 25 | $104.2M | $93.6M | ||
| Q3 25 | $82.8M | $156.0M | ||
| Q2 25 | $59.8M | $143.9M | ||
| Q1 25 | $83.6M | $77.2M | ||
| Q4 24 | $83.5M | $81.2M | ||
| Q3 24 | $64.8M | $130.4M | ||
| Q2 24 | $49.1M | $161.4M | ||
| Q1 24 | $61.4M | $94.8M |
毛利率FCFSWMS
| Q4 25 | — | 37.4% | ||
| Q3 25 | — | 40.0% | ||
| Q2 25 | — | 39.8% | ||
| Q1 25 | — | 36.7% | ||
| Q4 24 | — | 35.0% | ||
| Q3 24 | — | 37.6% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.5% |
营业利润率FCFSWMS
| Q4 25 | 28.5% | 19.7% | ||
| Q3 25 | 27.4% | 26.3% | ||
| Q2 25 | 21.1% | 24.8% | ||
| Q1 25 | 30.0% | 19.0% | ||
| Q4 24 | 26.5% | 18.4% | ||
| Q3 24 | 23.5% | 23.9% | ||
| Q2 24 | 18.2% | 27.7% | ||
| Q1 24 | 22.3% | 20.7% |
净利率FCFSWMS
| Q4 25 | 20.8% | 13.5% | ||
| Q3 25 | 20.1% | 18.3% | ||
| Q2 25 | 15.5% | 17.3% | ||
| Q1 25 | 22.5% | 12.5% | ||
| Q4 24 | 20.2% | 11.8% | ||
| Q3 24 | 17.9% | 16.7% | ||
| Q2 24 | 13.5% | 19.8% | ||
| Q1 24 | 16.7% | 14.5% |
每股收益（稀释后）FCFSWMS
| Q4 25 | $2.35 | $1.19 | ||
| Q3 25 | $1.86 | $1.99 | ||
| Q2 25 | $1.34 | $1.84 | ||
| Q1 25 | $1.87 | $0.99 | ||
| Q4 24 | $1.86 | $1.04 | ||
| Q3 24 | $1.44 | $1.67 | ||
| Q2 24 | $1.08 | $2.06 | ||
| Q1 24 | $1.35 | $1.22 |
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 | $1.0B |
| 总债务越低越好 | $2.2B | — |
| 股东权益账面价值 | $2.3B | $1.9B |
| 总资产 | $5.3B | $4.1B |
| 负债/权益比越低杠杆越低 | 0.98× | — |
8季度趋势，按日历期对齐
现金及短期投资FCFSWMS
| Q4 25 | $125.2M | $1.0B | ||
| Q3 25 | $130.2M | $812.9M | ||
| Q2 25 | $101.5M | $638.3M | ||
| Q1 25 | $146.0M | $463.3M | ||
| Q4 24 | $175.1M | $488.9M | ||
| Q3 24 | $106.3M | $613.0M | ||
| Q2 24 | $113.7M | $541.6M | ||
| Q1 24 | $135.1M | $490.2M |
总债务FCFSWMS
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.5B | $1.3B |
股东权益FCFSWMS
| Q4 25 | $2.3B | $1.9B | ||
| Q3 25 | $2.2B | $1.8B | ||
| Q2 25 | $2.1B | $1.7B | ||
| Q1 25 | $2.1B | $1.5B | ||
| Q4 24 | $2.1B | $1.5B | ||
| Q3 24 | $2.0B | $1.4B | ||
| Q2 24 | $2.0B | $1.3B | ||
| Q1 24 | $2.0B | $1.2B |
总资产FCFSWMS
| Q4 25 | $5.3B | $4.1B | ||
| Q3 25 | $5.2B | $4.1B | ||
| Q2 25 | $4.5B | $3.9B | ||
| Q1 25 | $4.4B | $3.7B | ||
| Q4 24 | $4.5B | $3.6B | ||
| Q3 24 | $4.4B | $3.5B | ||
| Q2 24 | $4.3B | $3.4B | ||
| Q1 24 | $4.2B | $3.3B |
负债/权益比FCFSWMS
| Q4 25 | 0.98× | — | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 0.79× | — | ||
| Q1 25 | 0.83× | 0.83× | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 0.87× | — | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | 0.75× | 1.11× |
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 | $269.3M |
| 自由现金流经营现金流 - 资本支出 | — | $183.6M |
| 自由现金流率自由现金流/营收 | — | 26.5% |
| 资本支出强度资本支出/营收 | — | 12.4% |
| 现金转化率经营现金流/净利润 | 1.98× | 2.88× |
| 过去12个月自由现金流最近4个季度 | — | $577.1M |
8季度趋势，按日历期对齐
经营现金流FCFSWMS
| Q4 25 | $206.6M | $269.3M | ||
| Q3 25 | $135.8M | $234.9M | ||
| Q2 25 | $116.9M | $275.0M | ||
| Q1 25 | $126.6M | $41.2M | ||
| Q4 24 | $198.1M | $189.9M | ||
| Q3 24 | $113.1M | $166.9M | ||
| Q2 24 | $106.2M | $183.4M | ||
| Q1 24 | $122.5M | $17.7M |
自由现金流FCFSWMS
| Q4 25 | — | $183.6M | ||
| Q3 25 | — | $176.4M | ||
| Q2 25 | — | $222.4M | ||
| Q1 25 | — | $-5.3M | ||
| Q4 24 | — | $135.7M | ||
| Q3 24 | — | $112.4M | ||
| Q2 24 | — | $125.7M | ||
| Q1 24 | — | $-29.8M |
自由现金流率FCFSWMS
| Q4 25 | — | 26.5% | ||
| Q3 25 | — | 20.7% | ||
| Q2 25 | — | 26.8% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | — | 19.7% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | — | 15.4% | ||
| Q1 24 | — | -4.6% |
资本支出强度FCFSWMS
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 7.6% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | — | 7.0% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | 7.3% |
现金转化率FCFSWMS
| Q4 25 | 1.98× | 2.88× | ||
| Q3 25 | 1.64× | 1.51× | ||
| Q2 25 | 1.95× | 1.91× | ||
| Q1 25 | 1.51× | 0.53× | ||
| Q4 24 | 2.37× | 2.34× | ||
| Q3 24 | 1.74× | 1.28× | ||
| Q2 24 | 2.16× | 1.14× | ||
| Q1 24 | 2.00× | 0.19× |
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% |
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
