WORLD ACCEPTANCE CORP

Listed Company

WRLDCIK 0000108385NasdaqAcceleratedPersonal Credit InstitutionsSouth CarolinaFY ends Mar 31

Period

FY 2025

Revenue

$564.84M

Net Income

$89.74M

Total Assets

$1.01B

Equity

$439.48M

Shares Out

4.94M

Op. Cash Flow

$254.16M

Business

WORLD ACCEPTANCE CORP is a consumer finance company that provides short- and medium-term installment loans to individuals with limited access to traditional credit. It offers traditional pre-computed and interest-bearing installment loans, tax advance loans, credit-related insurance products, automobile club memberships and tax preparation and electronic filing services. The company operates distinct lending, insurance-related (including a captive reinsurer) and tax services lines of business. It distributes products through a network of over one thousand local branches across 16 U.S. states and through direct mail, digital, email and SMS marketing channels.

Summary from filing dated 2025-05-22

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Interest and fee income	465	469	508	486	451
Insurance and other income, net	100	105	108	100	77
Total revenues	565	573	617	585	528
Provision for credit losses	169	157	259	186	86
Personnel	141	164	178	183	185
Occupancy and equipment	49	50	52	52	56
Advertising	10	10	6	18	17
Amortization of intangible assets	4	4	4	5	5
Other	37	40	39	42	41
Total general and administrative expenses	241	269	279	300	305
Interest expense	43	48	50	33	26
Total expenses	453	474	589	520	417
Income before income taxes	112	99	27	66	111
Income taxes	22	22	6	12	23
Net income	90	77	21	54	88
Basic (in dollars per share)	16.54	13.45	3.69	8.88	13.59
Diluted (in dollars per share)	16.3	13.19	3.6	8.47	13.23
Basic (in shares)	5	6	6	6	6
Diluted (in shares)	6	6	6	6	7

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Cash and cash equivalents	10	12	17	19	16
Gross loans receivable	1,226	1,277	1,390	1,523	1,105
Unearned interest, insurance and fees	−309	−327	−377	−403	—
Allowance for credit losses	−103	−103	−126	−134	−92
Loans receivable, net	813	847	888	986	—
Income taxes receivable	0	3	0	—	—
Operating lease ROU assets, net	76	80	81	86	90
Property and equipment, net	20	23	24	24	25
Deferred income taxes, net	33	31	42	40	25
Other assets, net	41	42	43	36	31
Goodwill	7	7	7	7	7
Intangible assets, net	7	11	15	20	24
Total assets	1,008	1,056	1,117	1,218	954
Senior notes payable	262	223	308	397	405
Senior unsecured notes payable, net	184	273	287	295	0
Income taxes payable	222,742	0	3	7	12
Operating lease liability	79	82	84	87	91
Accounts payable and accrued expenses	42	54	51	58	41
Total liabilities	568	632	732	845	549
Commitments and contingencies (Notes 9 and 16)	—	—	—	—	—
Preferred stock, no par value Authorized 5,000,000, no shares issued or outstanding	0	0	—	0	0
Common stock, no par value Authorized 95,000,000 shares; issued and outstanding 5,374,012 and 5,938,665 shares at March 31, 2025 and March 31, 2024, respectively	0	0	—	0	0
Additional paid-in capital	266	286	288	281	256
Retained earnings	173	138	97	92	149
Total shareholders' equity	439	424	385	373	405
Total liabilities and shareholders' equity	1,008	1,056	1,117	1,218	954

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Accrued unearned interest	1	−1	3	−9	10
Gain on extinguishment of senior unsecured notes payable	−982,791	−2	−2	0	0
Amortization of deferred loan costs	14	14	16	17	17
Amortization of debt issuance costs	1	2	2	—	—
Amortization of discount on loans acquired in an asset purchase	−596,966	0	0	—	—
Depreciation	6	7	6	6	7
Amortization of finance leases	0	0	204,552	407,624	407,624
Gain on asset acquisitions, net of income tax	0	−112,683	−4	0	0
Loss (gain) on sale of property and equipment	−60,087	−57,100	11,837	419,975	3
Deferred income tax expense (benefit)	−2	11	−2	−15	6
Stock-based compensation (reversal) related to equity classified awards	−20	−2	9	18	19
Gain on company-owned life insurance	−171,742	−154,140	−104,113	−106,885	−1
Other assets, net	1	1	−9	−8	−4
Income taxes payable and receivable	3	−6	−5	−4	7
Accounts payable and accrued expenses	−12	3	−7	17	−18
Net cash provided by operating activities	254	266	292	272	227
Increase in loans receivable, net	−131	−128	−152	−436	−56
Cash paid for acquisitions, primarily loans	−19	−2	−23	−11	—
Purchases of property and equipment	−4	−6	−6	−6	−12
Proceeds from sale of property and equipment	550,244	350,174	529,781	245,935	346,943
Net cash used in investing activities	−153	−135	−181	−452	−82
Borrowings from senior notes payable	417	306	314	515	311
Payments on senior notes payable	−378	−390	−403	−523	−357
Payments for extinguished senior unsecured notes payable	−88	−14	−7	0	0
Debt issuance costs associated with senior unsecured notes payable	0	0	−19,656	−5	0
Payments for debt extinguishment costs	−12,500	−28,125	−22,850	—	0
Debt issuance costs associated with senior notes payable	−37,982	−591,716	−1	0	−784,250
Proceeds from exercise of stock options	2	3	654,920	13	12
Payments for taxes related to net share settlement of equity awards	−3	−3	−3	−5	−3
Repurchase of common stock	−54	−36	−14	−111	−102
Repayment of finance lease	0	0	−80,067	−505,286	−594,024
Net cash used in financing activities	−104	−135	−114	183	−141
Net change in cash and cash equivalents	−2	−5	−3	3	4
Interest paid during the year	45	49	52	21	25
Income taxes paid during the year	4	9	11	31	15
Finance lease ROU assets, net transferred to property and equipment, net	0	0	402,960	0	0
Non-cash excise tax on stock repurchases	486,112	301,330	0	0	—

Filings

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