Company Quick10K Filing
World Acceptance
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 9 $1,504
10-Q 2019-11-07 Quarter: 2019-09-30
10-Q 2019-08-07 Quarter: 2019-06-30
10-K 2019-05-24 Annual: 2019-03-31
10-Q 2019-02-11 Quarter: 2018-12-31
10-Q 2018-11-08 Quarter: 2018-09-30
10-Q 2018-08-09 Quarter: 2018-06-30
10-K 2018-06-13 Annual: 2018-03-31
10-Q 2018-02-06 Quarter: 2017-12-31
10-Q 2017-11-08 Quarter: 2017-09-30
10-Q 2017-08-08 Quarter: 2017-06-30
10-K 2017-06-29 Annual: 2017-03-31
10-Q 2017-02-06 Quarter: 2016-12-31
10-Q 2016-11-04 Quarter: 2016-09-30
10-Q 2016-08-05 Quarter: 2016-06-30
10-K 2016-06-01 Annual: 2016-03-31
10-Q 2016-02-05 Quarter: 2015-12-31
10-Q 2015-11-06 Quarter: 2015-09-30
10-Q 2015-07-30 Quarter: 2015-06-30
10-K 2015-06-02 Annual: 2015-03-31
10-Q 2015-02-06 Quarter: 2014-12-31
10-Q 2014-11-10 Quarter: 2014-09-30
10-Q 2014-08-06 Quarter: 2014-06-30
10-K 2014-06-12 Annual: 2014-03-31
10-Q 2014-02-05 Quarter: 2013-12-31
10-Q 2013-11-01 Quarter: 2013-09-30
10-Q 2013-08-06 Quarter: 2013-06-30
10-K 2013-06-14 Annual: 2013-03-31
10-Q 2013-02-08 Quarter: 2012-12-31
10-Q 2012-11-02 Quarter: 2012-09-30
10-Q 2012-08-06 Quarter: 2012-06-30
10-K 2012-05-29 Annual: 2012-03-31
10-Q 2011-11-01 Quarter: 2011-09-30
10-Q 2011-08-03 Quarter: 2011-06-30
10-K 2011-06-03 Annual: 2011-03-31
10-Q 2011-01-31 Quarter: 2010-12-31
10-Q 2010-10-29 Quarter: 2010-09-30
10-Q 2010-08-03 Quarter: 2010-06-30
10-K 2010-06-08 Annual: 2010-03-31
10-Q 2010-02-01 Quarter: 2009-12-31
8-K 2019-12-20 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-10-31 Earnings, Regulation FD, Exhibits
8-K 2019-08-22 Shareholder Vote
8-K 2019-07-25 Earnings, Regulation FD, Exhibits
8-K 2019-06-07 Enter Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2019-05-09 Earnings, Regulation FD
8-K 2019-04-15 Officers, Other Events, Exhibits
8-K 2019-01-31 Earnings, Regulation FD, Exhibits
8-K 2018-12-14 Enter Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2018-11-01 Earnings, Regulation FD, Exhibits
8-K 2018-10-15 Officers, Exhibits
8-K 2018-08-24 Shareholder Vote
8-K 2018-08-01 Enter Agreement, Exhibits
8-K 2018-07-26 Earnings, Regulation FD, Exhibits
8-K 2018-07-13 Other Events, Exhibits
8-K 2018-06-27 Officers, Exhibits
8-K 2018-06-01 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-05-04 Earnings, Regulation FD, Officers, Exhibits
8-K 2018-01-26 Earnings, Regulation FD, Exhibits
8-K 2018-01-18 Officers, Other Events, Exhibits
8-K 2018-01-04 Amend Bylaw, Other Events, Exhibits
8-K 2018-01-01 Officers, Exhibits

World Acceptance Financials

WRLD Metrics, Comps, Filings

Annual | Quarterly

Business

General. The Company was incorporated under the laws of South Carolina on February 22, 1973 and is now one of the nation's largest small-loan consumer finance companies, offering short-term small installment loans, medium-term larger installment loans, related credit insurance and ancillary products and services to individuals. The Company offers standardized installment loans generally between $300 and $4,000, with the average loan being $1,482. The Company operates 1,193 branches in Alabama, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Texas, Tennessee, Utah, and Wisconsin as of March 31, 2019. The Company generally serves individuals with limited access to other sources of consumer credit such as banks, credit unions, other consumer finance businesses and credit card lenders. The Company also offers income tax return preparation services to its loan customers and other individuals.

The small-loan consumer finance industry is a highly fragmented segment of the consumer lending industry. Small-loan consumer finance companies generally make loans to individuals of less than $2,000 with maturities of less than 18 months. These companies approve loans on the basis of the personal creditworthiness of their customers and maintain close contact with borrowers to encourage the repayment or, when appropriate to meet the borrower's needs, the refinancing of loans. By contrast, commercial banks, credit unions and other consumer finance businesses typically make loans of more than $5,000 with maturities of greater than one year. Those financial institutions generally approve consumer loans on the security of qualifying personal property pledged as collateral or impose more stringent credit requirements than those of small-loan consumer finance companies. As a result of their higher credit standards and specific collateral requirements, commercial banks, savings and loans and other consumer finance businesses typically charge lower interest rates and fees and experience lower delinquency and charge-off rates than do small-loan consumer finance companies. Small-loan consumer finance companies generally charge higher interest rates and fees to compensate for the greater risk of delinquencies and charge-offs and increased loan administration and collection costs.

The majority of the participants in the industry are independent operators with generally less than 100 branches. We believe that competition between small-loan consumer finance companies occurs primarily on the basis of the strength of customer relationships, customer service and reputation in the local community rather than pricing, as participants in this industry generally charge interest rates and fees at, or close to, the maximum permitted by applicable state laws. We believe that our relatively large size affords us a competitive advantage over smaller companies by increasing our access to, and reducing our cost of, capital.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
LexinFintech (LX) 2,808 0% 12,471 8,364 0 0 0 0 469
Nelnet (NNI) 2,651 1.6 1% 24,220 21,893 0 0 131 1,030 1,598
PennyMac Financial Services (PFSI) 1,747 0% 3.3 3% 8,398 6,619 752 0 228 456 1,515
Wins Finance (WINS) 1,587 0% 309 35 0 0 0 0 1,545
Walker & Dunlop (WD) 1,580 0% 4.1 6% 2,994 2,030 787 0 170 367 1,486
World Acceptance (WRLD) 1,504 0% 12.1 6% 1,041 491 560 0 67 123 1,495
Blucora (BCOR) 1,461 53% 17.5 5% 1,236 530 616 328 63 99 1,734
Yirendai (YRD) 1,293 0% 7,519 2,398 0 0 0 0 -646
PRA Group (PRAA) 1,221 0% 4.3 2% 4,165 3,010 729 0 67 258 1,116
Enova (ENVA) 771 48% 13.3 6% 1,383 977 1,185 567 84 111 1,468
Curo Group Holdings (CURO) 722 53% 15.0 -1% 1,085 1,028 641 338 -7 91 1,364
America First Multifamily Investors (ATAX) 445 0% 10.0 4% 1,001 586 81 0 42 46 457
China Rapid Finance (XRF) 377 0% 138 78 0 0 0 0 282
On Deck Capital (ONDK) 339 51% 5.3 3% 1,248 915 433 222 34 45 237
Regional Management (RM) 338 0% 9.9 3% 1,019 729 328 0 35 99 985
Ocwen Financial (OCN) 261 0% 59.5 -2% 9,628 9,205 1,127 0 -178 111 6,590
Elevate Credit (ELVT) 197 37% 5.4 3% 741 601 776 290 19 121 661
Hexindai (HX) 155 0% 173 47 0 0 0 0 117
Medallion Financial (MFIN) 154 0% 5.9 0% 1,482 1,196 0 0 1 44 263
Atlanticus (ATLC) 144 -410% -0.0 3% 710 719 8 -33 18 68 -1

Balance Sheet ($MM)2012-03-312014-03-312015-03-312016-03-312017-03-312018-03-312019-03-31
Cash112012465
Accounts Receivable
Inventory
PP&E23612625242625
Assets0102801841855
Accounts Payable
Long-Term Debt279506501375295245252
Liabilities316543551414340300303
Stockholders' Equity419307316392461541552
Income Statement ($MM)2012-03-312014-03-312015-03-312016-03-312017-03-312018-03-312019-03-31
Revenue0223532549545
Cost of Revenue
Gross Profit
R&D
SG&A261300292269268297288
Tax59646163384816
Net Income10110711187745437
Cash Flow ($MM)2012-03-312014-03-312015-03-312016-03-312017-03-312018-03-312019-03-31
Cash Operating219246242206219218245
Cash Investing-178-166-108-102-132-170-207
Cash Financing-38-72-112-129-84-31-63