10-K · February 25, 2026
Encore Capital reported a strong 2025 with total revenues of $1,768,802,000 (up 34.4% vs. $1,316,361,000 in 2024) driven by higher receivable portfolio balances and collection outperformance. Adjusted EBITDA rose to…
Earnings analysis · 10-Q
ECPG earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Encore Capital Group saw impressive growth in Q1 2026 with revenue reaching $475.4 million, surpassing expectations of $447.4 million, and EPS reported at $3.86, well above the anticipated $2.88. This marks a…
Read full summary
Encore Capital Group saw impressive growth in Q1 2026 with revenue reaching $475.4 million, surpassing expectations of $447.4 million, and EPS reported at $3.86, well above the anticipated $2.88. This marks a significant year-over-year increase compared to just $1.93 in Q1 2025. The company has raised 2026 collections guidance to approximately $2.8 billion, driven by robust collection performance and operating efficiencies.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $3.86
What stood out
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Revenue Growth Exceeds Expectations
Revenue for Q1 2026 reached $475.4 million, exceeding estimates by 6.3%.
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Significant EPS Increase
Diluted EPS of $3.86 is a 99.5% increase compared to $1.93 in Q1 2025.
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Collections Guidance Raised
Management raised 2026 collections guidance to approximately $2.8 billion.
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Strong Operating Cash Flows
Net cash provided by operating activities improved to $82.3 million from $45.3 million.
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Improved Operating Margins
Operating margin increased to 38.7%, up from 32.9% year-over-year.
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Decreased Interest Expense
Interest expense rose only slightly to $73.1 million, reflecting a manageable debt profile.
What to watch
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Increased Operational Costs
Total operating expenses increased by 10.6% to $291.4 million, driven majorly by legal collection costs.
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Market Dependence for Debt Purchases
The reliance on a stable supply of debt portfolios amidst regulatory pressures could impact future growth.
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Foreign Currency Risk
Fluctuations in foreign exchange rates may adversely affect profitability from operations abroad.
Management's outlook
Revenue guidance for 2026 remains unchanged at $1.4 to $1.5 billion, with EPS guidance raised to $13.00.
Earlier filings 4
10-Q · August 6, 2025
Encore Capital reported a strong Q2 2025: revenue of $442.122M (vs $355.285M in Q2 2024) and diluted EPS of $2.49 (vs $1.34). Operating income rose to $150.733M, implying an operating margin of ~34.1%, driven by higher…
10-Q · May 7, 2025
Encore Capital reported a strong Q1 with revenue of $392,775,000 (up $64,389,000 vs Q1 2024) and diluted EPS of $1.93 (vs $0.95 in Q1 2024). Operating income rose to $129,343,000, yielding an operating margin of ~32.9%…
10-K · February 26, 2025
Encore Capital reported full-year revenue of $1,316,361,000 in 2024, up 7.7% from $1,222,680,000 in 2023, driven by higher portfolio basis and debt purchasing revenue. The company generated Adjusted EBITDA of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.