EZCorp

EZCORP, Inc.

Company type	Public
Industry	Pawnshop, Financial services
Founded	1989
Headquarters	Austin , United States
Area served	United States, Latin America
Key people	Phillip E. Cohen (Executive Chairman)
Products	Pawn loans, sales of forfeited collateral merchandise, pre-owned items, digital pawn loan management platform (Lana)
Owner	MS Pawn Corporation (controls Class B Voting Common Stock)
Number of employees	6500 (2020)
Website	www.ezcorp.com

EZCORP, Inc. is a publicly listed American pawnshop chain headquartered in Austin, Texas, operating throughout the United States and Latin America. Trading on the NASDAQ under the symbol EZPW, it holds the position of the second-largest pawnshop operator in the U.S., trailing only Cash America International.

By September 30, 2021, EZCORP managed a total of 1,148 retail locations: 516 within the U.S. (with 44% located in Texas and 18% in Florida), 508 in Mexico, 90 in Guatemala, 18 in El Salvador, and 16 in Honduras. The company’s primary focus lies in specialized consumer financing via its retail pawn services.

EZCORP employs a dual-class share structure; Phillip E. Cohen controls all Class B Voting Common Stock through MS Pawn Corporation and holds the role of Executive Chairman. The Class A shares do not carry voting rights.

Beyond its main operations under banners like EZPAWN and Empeño Fácil, EZCORP owns a 37.72% interest in Cash Converters International, an enterprise running more than 750 franchised outlets globally and listed on the Australian Stock Exchange (ASX: CCV). Additionally, it possesses roughly a 13% stake in Rich Data Corporation (RDC), a Singapore-based company specializing in credit risk analytics software.

With around 6,500 employees and generating $823 million in revenue during 2020, EZCORP’s leadership strategy centers on growing market presence through acquisitions and investing in technology-driven financial service solutions within its targeted regions.

History

Established in 1989, the company experienced rapid growth, operating 234 pawnshops across nine states by 1994. In 2001, it broadened its services to include payday lending within EZPAWN stores and introduced standalone payday loan outlets under the EZMONEY brand by 2003. International expansion kicked off in 2007 with new store openings along the Texas-Mexico border and acquisition of 20 Mexican locations branded Empeño Fácil. Toward the end of 2008, EZCORP acquired Las Vegas-based Pawn Plus and ASAP Pawn. By 2009, it had entered Canada with stores operating under the CashMax name.

In November 2009, EZCORP purchased a 30% equity stake in Cash Converters International and earlier that year completed acquiring Value Financial Services. The company's holding in Cash Converters rose to 33% in 2010—the same year EZCORP earned recognition on Fortune Magazine's list of the 100 Fastest Growing Companies. In 2011, it secured master franchise rights for Cash Converters’ Canadian operations. Further expansion into Mexico occurred in 2012 through acquiring majority interests in Grupo Finmart ("Crediamigo") and TUYO.

On July 29, 2015, EZCORP announced it would discontinue its U.S. Financial Services segment, which included payday loans, auto title loans, installment loans, and lines of credit.

Description

EZCORP operates pawnshop locations across both the United States and Latin America, offering pawn loans secured by personal property such as jewelry, electronics, tools, sporting equipment, and musical instruments. Revenue streams also include sales from forfeited collateral merchandise as well as pre-owned items purchased directly from customers. The company provides Lana, a digital platform created to facilitate management of pawn loan transactions.

Per its annual report from September 2021, the CEO received total compensation amounting to $3.28 million while average employee wages were $20,561—resulting in a CEO-to-worker pay ratio of approximately 160:1.

External links

• Official website of EZCORP