WRLD earnings analysis
What we found in WRLD's 10-K: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
World Acceptance Corporation's 10-K report for fiscal 2026 reflects a modest revenue increase of 3.7% to $585.2 million compared to fiscal 2025, despite a significant net income decline of 61.2% to $34.6 million. The company faces challenges including rising costs and high debt levels, with a debt-to-equity ratio at 1.7, noting a competitive market environment.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Modest Revenue Growth
- Revenue increased to $585.2 million, up 3.7% from $564.3 million in fiscal 2025.
- Strong Gross Margins
- Gross margin was reported at 91.6%, showing resilience despite rising costs.
- High Free Cash Flow
- Free cash flow for fiscal 2026 was $229 million, highlighting strong cash generation.
- Steady Operational Income
- Operating income remained positive at $71.5 million despite margin pressures.
- Sustained Market Presence
- Retained significant market share in its competitive lending space, maintaining relevance.
- Shareholder Returns
- Continued dividends, reflecting ongoing commitment to returning capital to shareholders.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Net Income
- Net income declined 61.2% to $34.6 million, indicating severe profitability pressure.
- High Debt Levels
- Debt-to-equity ratio stands at 1.7, implicating increased financial risk.
- Rising Operational Costs
- Examined increases in operational expenditures, impacting margins and overall profitability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $7.7
- Gross margin
- 91.6%
- Operating margin
- 12.2%
What they said about what is next.
Annual outlook deferred to earnings press release / call.
The filing reads worse than the one before it.
What came before.
- 10-K · June 4, 2026
- World Acceptance Corporation's 10-K report highlights a significant decline in net income for fiscal 2026, down 61.2% to $34.6 million compared to $89.2 million in fiscal 2025. Despite a modest revenue increase of 3.7%…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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