← WORLD ACCEPTANCE CORP
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $73.6m |
$53.7m
-27.05%
|
$37.2m
-30.65%
|
$28.2m
-24.38%
|
$88.3m
+213.53%
|
$53.9m
-38.92%
|
$21.2m
-60.62%
|
$77.3m
+264.29%
|
$89.7m
+16.03%
|
$34.6m
-61.46%
|
|
| Depreciation and amortization | $6.9m | $7.3m | $6.6m | $7.1m | $1.7m | $3.9m | $0 | $0 | $6.3m | $5.8m | |
| Amortization of Debt Issuance Costs | — | — | $593k | $517k | $659k | $1.1m | $1.7m | $1.7m | $1.3m | $1.6m | |
| Amortization of Debt Issuance Costs and Discounts | $2.0m | $866k | $593k | — | $659k | $1.1m | $1.7m | $1.7m | — | — | |
| Amortization of Intangible Assets | $490k | $990k | $1.5m | $5.0m | $5.5m | $5.0m | $4.5m | $4.2m | $3.8m | $3.2m | |
| Depreciation | $6.9m | $7.3m | $6.6m | $7.1m | $6.9m | $6.3m | $6.2m | $6.7m | $6.3m | $5.8m | |
| Amortization of deferred loan costs | — | — | — | $23.1m | $17.1m | $16.9m | $15.5m | $14.2m | $14.1m | $14.9m | |
| Amortization of discount on loans acquired in an asset purchase | — | — | — | — | — | — | $0 | $0 | ($597k) | ($359k) | |
| Deferred Income Tax Expense (Benefit) | ($894k) | $8.8m | ($3.7m) | $573k | $5.7m | ($14.8m) | ($2.1m) | $10.7m | ($2.3m) | ($7.1m) | |
| Share-based Payment Arrangement, Noncash Expense | $4.8m | $5.4m | $17.6m | — | $19.3m | $17.6m | $9.1m | ($1.7m) | ($19.7m) | — | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $0 | $1.5m | $1.4m | — | $3.2m | $5.1m | $2.5m | $2.8m | $2.7m | $9.1m | |
| Stock-based compensation (reversal) related to equity classified awards | — | — | — | — | — | $17.6m | $9.1m | ($1.7m) | ($19.7m) | $19.3m | |
| Goodwill, Impairment Loss | $54k | $0 | $0 | — | $0 | $0 | — | — | — | — | |
| Accounts payable and accrued expenses | ($904k) | $8.6m | $5.9m | $19.9m | ($18.3m) | $17.0m | ($7.5m) | $3.1m | ($12.1m) | ($5.5m) | |
| Accrued unearned interest | — | — | — | — | $9.7m | ($9.0m) | $3.2m | ($1.1m) | $1.3m | ($2.3m) | |
| Deferred revenue (contract liability) | — | — | — | — | — | — | — | $403k | $670k | $576k | |
| Other assets, net | $492k | ($859k) | $5.5m | ($8.6m) | ($4.8m) | ($8.2m) | ($9.1m) | $1.2m | $1.1m | $5.5m | |
| Net Cash Provided by (Used in) Operating Activities | $219.4m |
$218.0m
-0.61%
|
$244.7m
+12.22%
|
$257.4m
+5.21%
|
$199.6m
-22.47%
|
$281.5m
+41.05%
|
$291.6m
+3.58%
|
$265.8m
-8.84%
|
$254.2m
-4.37%
|
$259.4m
+2.04%
|
|
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $6.8m | $9.2m | $9.8m | ($11.3m) | $11.7m | $6.1m | $5.8m | $5.9m | $3.7m | $3.9m | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $30k | ($210k) | ($93k) | $285k | ($2.8m) | ($420k) | ($12k) | $57k | $60k | $377k | |
| Gain on asset acquisitions, net of income tax | — | — | — | — | $0 | $0 | ($4.0m) | ($113k) | $0 | $0 | |
| Cash paid for acquisitions, primarily loans | — | — | — | — | ($19.8m) | ($10.9m) | ($23.1m) | ($2.0m) | ($18.9m) | $0 | |
| Net Cash Provided by (Used in) Investing Activities | ($131.6m) | ($169.8m) | ($207.0m) | ($256.0m) | ($55.2m) | ($460.9m) | ($180.6m) | ($135.1m) | ($152.8m) | ($232.9m) | |
| Cash flows from financing activities: | |||||||||||
| Gain (Loss) on Extinguishment of Debt | — | — | — | — | — | — | $1.8m | $1.6m | $983k | ($3.7m) | |
| Borrowings from revolving credit facility | — | — | — | — | — | — | — | $305.7m | $416.6m | $769.5m | |
| Borrowing on warehouse facility | — | — | — | — | $0 | $300.0m | $0 | $0 | $0 | $232.9m | |
| Payments for debt extinguishment costs | — | — | — | — | $0 | $0 | ($23k) | ($28k) | ($12k) | ($26k) | |
| Debt issuance costs associated with revolving credit facility | $201k | $420k | $240k | $991k | ($784k) | $0 | ($1.1m) | ($592k) | ($38k) | ($2.0m) | |
| Debt issuance costs associated with warehouse facility | — | — | — | $0 | $0 | ($5.1m) | ($20k) | $0 | $0 | ($2.5m) | |
| Payments for Repurchase of Common Stock | $5.0m | $4.6m | $74.5m | — | $102.5m | $111.1m | $14.3m | $36.2m | $54.2m | $132.4m | |
| Repurchase of common stock | ($5.0m) | ($4.6m) | ($74.5m) | ($197.4m) | ($102.5m) | ($111.1m) | ($14.3m) | ($36.2m) | ($54.2m) | ($132.4m) | |
| Payments for taxes related to net share settlement of equity awards | $0 | $1.5m | ($1.4m) | ($4.5m) | ($3.2m) | ($5.1m) | ($2.5m) | ($2.8m) | ($2.7m) | ($9.1m) | |
| Net Cash Provided by (Used in) Financing Activities | ($84.2m) |
($31.5m)
+62.61%
|
($63.1m)
-100.60%
|
$905k
+101.43%
|
($140.2m)
-15588.60%
|
$182.9m
+230.45%
|
($113.7m)
-162.15%
|
($135.3m)
-19.01%
|
($103.5m)
+23.50%
|
($6.8m)
+93.40%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | — | $4.1m | $3.5m | ($2.7m) | ($4.7m) | ($2.1m) | $19.6m | |
| Cash and restricted cash at beginning of year | — | — | $9.3m | $11.6m | $15.7m | $19.2m | $16.5m | $11.8m | $9.7m | $29.4m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | $15.7m | $19.2m | $16.5m | $11.8m | $9.7m | $29.4m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | $0 | — | — | — | — | — | |
| Net change in cash and restricted cash | — | — | ($22.8m) | $2.3m | $4.1m | $3.5m | ($2.7m) | ($4.7m) | ($2.1m) | $19.6m | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $19.3m | $17.7m | $16.8m | $23.9m | $25.0m | $21.3m | $51.8m | $48.8m | $44.7m | $47.4m | |
| Income Taxes Paid, Net | — | — | — | — | — | — | — | — | — | $14.8m | |
| Additional Financial Items | |||||||||||
| Gain (Loss) on Disposition of Business | — | $0 | ($38.4m) | — | $0 | — | — | — | — | — | |
| Gain (Loss) on Sale of Financing Receivable | — | — | — | — | $25k | $0 | $0 | — | — | — | |
| General and Administrative Expense | $267.7m | $269.1m | $288.3m | — | $302.2m | $297.2m | $279.5m | $268.6m | $240.9m | $301.9m | |
| Goodwill | $6.1m | $7.0m | $7.0m | — | $7.4m | $7.4m | $7.4m | $7.4m | $7.4m | $7.4m | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | — | $88.3m | $53.9m | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | $4.6m | ($36.7m) | — | $0 | — | — | — | — | — | |
| Income Tax Expense (Benefit) | $40.4m | $47.8m | $16.0m | — | $23.1m | $11.7m | $5.9m | $22.1m | $22.2m | $10.7m | |
| Operating Expenses | $417.7m | $405.8m | $454.7m | — | — | — | — | — | — | — | |
| Proceeds from Stock Options Exercised | $1.2m | $25.3m | $6.0m | — | $12.3m | $12.8m | $655k | $2.9m | $2.4m | $2.7m | |
| Financing Receivable, Credit Loss, Expense (Reversal) | — | — | — | — | $86.2m | $186.2m | $259.5m | $157.0m | $169.2m | $188.6m | |
| Loss (gain) on extinguishment of senior unsecured notes payable | — | — | — | — | $0 | $0 | ($1.8m) | ($1.6m) | ($983k) | $3.7m | |
| Provision for credit losses | — | — | $148.4m | $181.7m | $86.2m | $186.2m | $259.5m | $157.0m | $169.2m | $188.6m | |
| Gain on company-owned life insurance | — | — | $0 | $0 | $1.1m | ($107k) | ($104k) | ($154k) | ($172k) | ($157k) | |
| Income taxes payable and receivable | $4.3m | $2.0m | ($2.5m) | ($6.6m) | $6.6m | ($4.2m) | ($4.9m) | ($5.6m) | $3.3m | ($2.6m) | |
| Originations of loans receivable | — | — | — | — | ($56.1m) | ($436.3m) | ($152.2m) | ($127.6m) | ($130.7m) | ($1.5b) | |
| Repayments of loans receivable | — | — | — | — | — | — | — | $1.2b | $1.2b | $1.2b | |
| Payments on revolving credit facility | — | — | — | — | — | — | — | ($390.2m) | ($377.6m) | ($588.1m) | |
| Payments for extinguished senior unsecured notes payable | — | — | — | — | — | — | — | ($14.0m) | ($88.0m) | ($188.3m) | |
| Payments on warehouse facility | — | — | — | — | $0 | $0 | ($7.2m) | ($14.0m) | ($88.0m) | ($89.6m) | |
| Proceeds from exercise of stock options | $1.2m | $25.3m | $6.0m | $4.6m | $12.3m | $12.8m | $655k | $2.9m | $2.4m | $2.7m | |
| Non-cash excise tax on stock repurchases | — | — | — | — | — | $0 | $0 | $301k | $486k | $1.2m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.