Pawn Shop Stocks: Learn About The Largest Pawn Shop Companies

Pawn Shop Stocks: Learn About The Largest Pawn Shop Companies

The pawn industry outperforms the broader market during economic pullbacks. Learn more about the biggest pawn shops.

Last updated December 7, 2022

CashAmerica location


Today, there are two pawn shop stocks listed in the United States: First Cash Holdings (Nasdaq: FCFS) and EZCorp (Nasdaq: EZPW). FirstCash is larger with a market capitalization of $4.2 billion and 2,800 stores in the United States and Latin America. EZCorp is the next largest pawn shop stock with a market capitalization of $600 million and over 1,150 stores in the United States and Latin America.

The pawn shop industry is fragmented - according to the US Census, approximately 88% of the 9,000 to 10,000 pawn shops in the United States have 10 or fewer employees. FirstCash and EZCorp represent most of the consolidation in the industry. You can view all pawn shops by using our interactive pawn shop map.

Employment pie chart - pawn industry is mostly a small business industry
Source: US Census

Number of pawn shops in the United States

IBIS World Pawn Industry Stores
Source: IBIS World


FirstCash is the largest pawn shop company in the United States - as of December 2022, FirstCash operated over 1,000 locations across 25 states. FirstCash opened its first store located in Haltom City, TX in 1988. Since then, FirstCash has grown to 2,839 stores in the United States and Latin America. Over the last five years, FirstCash has opened or acquired over 1,050 stores, which represents over 50% growth.

FirstCash US Pawn Shop Locations
Source: FirstCash
FirstCash store growth
Source: FirstCash

FirstCash went through three phases to get to where it is today.

  • 1988-2016 as First Cash: The Company operated as First Cash and expanded its footprint. It was the first US pawn company to expand to the high-growth Latin American market.
    Original First Cash logo
  • 2016-2021 as Cash America: First Cash and Cash America merged to create the largest operator of retail pawn stores in the United States and Latin America. The merger added over 800 locations.
    Cash America logo
  • 2021-today as FirstCash: The Company changed its name back to FirstCash and acquired American First Finance to enter the growing Point-of-Sale payments market.
    New First Cash logo

First Cash operates pawn stores under the following brands:

  • First Cash Pawn
  • King Pawn
  • David’s Pawn Shop
  • Money Man Pawn
  • Valu Plus Pawn
  • Loftis Jewelry & Pawnbrokers
  • Fast Cash Pawn & Gold Center
  • Dan’s Discount Jewelry & Pawn
  • Piazza Jewelry & Pawn
  • Atomic Pawn
FirstCash brands
Source: FirstCash


EZCorp is the second largest pawn shop operator in the United States. As of December 2022, it operated 1,175 pawn shops in five countries. The Company was founded in 1989. In 2007 it expanded to Mexico, and in 2009 it opened stores in Canada. The Company has a dual share structure, and Executive Chairman Phillip E. Cohen owns 100% of the Class B stock. EZCorp owns a 33% interest in Cash Converters International.

EzCorp locations
Source: EZCorp

First Cash operates pawn stores under the following brands:

  • Value Pawn & Jewelry
  • USA Pawn & Jewelry
  • Cash Converters
  • Cash Pawn
  • Easypawn
  • Easy Cash Pawn
  • EZ Jewelry & Loan
  • Jerry’s Pawn Shop
  • Max It Pawn
  • EZ Cash Metro Pawn
  • Pawn Plus
  • Premier Pawn & Jewelry
EZCorp brands
Source: EZCorp

Pawn Shop Business Model

Pawn shops provide small secured pawn loans to unbanked and underbanked consumers with limited or no access to traditional credit products. The combination of lending and retail helps diversify the revenue stream. Pawn shop loan demand is resilient, with very low credit risk given the nature of collateralized loans.

Pawn Industry Is Counter-Cyclical

Counter-cyclical businesses outperform the broader economy during recessions. As seen below, the stock price for EZCorp went up considerably during the Great Recession of 2008/09 when most stocks went down.

Google Finance stock price chart for EZCORP
Source: Google Finance

The chart below by the St Louis Federal Reserve shows loan delinquencies over the last 40 years (recessions are highlighted in gray). As you can see, loan delinquencies rise during recessions. This means that consumers are stretched thin and require extra cash for everyday payments. During these times demand for loans such as pawn shop loans increases.

St Louis Fed Non Performing Loans Chart
Source: St Louis Federal Reserve

FirstCash’s historical profitability shows profit growth during the 2008/2009 economic recession. In fact, FirstCash’s gross profit per store increased by ~50% between 2007 and 2012.

FirstCash historical profitability
Source: FirstCash

Lending & Retail Segments Diversify Earnings

Pawn stores typically have two main streams of profits: loans and retail. Pawn fees and interest typically represent the bulk of net profit.

FirstCash gross profit by segment
Source: FirstCash


The pawn industry is well positioned over the long term. FirstCash and EZCorp have grown over the last several decades through organic expansion and acquisitions. Also, the pawn industry performs well during economic recessions. Please note that this post is not a recommendation to buy or sell securities. Consult a financial advisor before making any investment decisions.

New Posts

Pawn Shop Map
Selling DVDs & DVD Players To Pawn Shops
Many pawn shops still buy and sell DVDs and DVD players. Learn how much money pawn shops will offer.

December 23, 2022

Pawn Shop Map
Guide To Start A Successful Pawn Shop: Learn What It Takes To Open A Pawn Shop
Pawn shops are an essential part of the economy. Learn how you can start a profitable pawn shop in your local region.

December 23, 2022

Pawn Shop Map
Oculus Pawn Shop Guide: Buying, Pawning & Selling Oculus VR Headsets
Pawn shops buy and sell Oculus virtual reality headsets. Learn how to get the most money when you sell or pawn your Oculus.

December 23, 2022

Pawn Shop Map
Selling Silver To Pawn Shops: Learn How Pawn Shops Value Silver
Use our silver value calculator to estimate how much pawn shops will pay for your silver.

December 23, 2022

Pawn Shop Map
Selling Gift Cards To Pawn Shops: Convert Your Gift Cards To Cash
Pawn shops often buy gift cards from large retailers like Amazon, Walmart, Target, and other stores.

December 22, 2022

Pawn Shop Map
Selling Tattoo Machines To Pawn Shops: Learn About Which Tattoo Guns Pawn Shops Buy
Tattoo machines can be worth up to several hundred dollars at pawn shops.

December 22, 2022

Pawn Shop Map
Pawn Shops Featured In Movies, TV Shows, Music & Games
Popular media often feature the pawn industry. Read why pawn shops are a popular topic.

December 22, 2022

Pawn Shop Map
Data Privacy & Information Protection At Pawn Shops
Learn how pawn shops protect your identity when you sell and pawn your items.

December 22, 2022

Pawn Shop Map
Xbox Pawn Shop Guide: Buying, Pawning & Selling Xbox Consoles
Pawn shops buy and sell Xbox Series X/S, Xbox One, Xbox 360, and Xbox games.

December 21, 2022

Pawn Shop Map
Selling Weights & Exercise Equipment To Pawn Shops: Learn Which Equipment Pawn Shops Buy
Weights and exercise equipment can be worth several hundred dollars at pawn shops.

December 21, 2022


💬 Be the first to leave a comment

Pawn Shop Map logo

Find Local Pawn Shops & Deals


© 2023