FirstCash Boosts Share Buyback Authorization by $200 Million to $350 Million

FirstCash is adding $200 million to its stock buyback program, lifting the total authorization to $350 million, according to an 8-K the pawn store operator filed Wednesday.

The board unanimously approved the increase on Oct. 27, the company said. The Fort Worth, Texas-based company operates more than 3,300 retail pawn stores, according to its press release.

Where the program stands

Under the program first authorized in July 2026, FirstCash has already repurchased 644,000 shares at an average price of $199.46, for a total of $128 million. With the larger authorization, the company said it had $222 million left to spend as of Wednesday's market open.

Purchases may be made in the open market, through block trades or in privately negotiated transactions, including under a trading plan that complies with Rule 10b5-1. The program has no time limit and may be suspended or stopped at any time, according to the filing.

Management's message

CEO Rick Wessel said the company increased the authorization "to opportunistically return value to shareholders as we see a growing disconnect between our current valuation and FirstCash's progress toward our long-term growth objectives."

Wessel said the company's main focus remains growing its core pawn operations through acquisitions and new store openings. He said the ability to fund both store growth and a bigger buyback reflects the strength of the balance sheet, record free cash flows and the recent upsizing of its unsecured revolving credit facility.

The longer record

Over the past 25 years, FirstCash has repurchased almost 27 million shares for a combined $1.7 billion, or an average of $64 a share, Wessel said in the release. The company has averaged $139 million a year in buybacks over the last decade, and its cash dividend has increased every year since the dividend program began in 2016.

Sources

1. FirstCash Form 8-K announcing a $200 million increase to its share repurchase authorization (Exhibit 99.1), filed Oct. 28, 2026 (accession 0000840489-26-000101)

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