Aaron's (PRG) Financials

$35.12 +0.13 (+0.37%)

As of 11:18 AM Eastern

Annual Income Statements for Aaron's

This table shows Aaron's' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	196	31	-61	244	99	139	197
Consolidated Net Income / (Loss)	196	31	-61	244	99	139	197
Net Income / (Loss) Continuing Operations	125	-25	234	244	99	139	197
Total Pre-Tax Income	157	28	272	328	148	196	164
Total Operating Income	157	28	272	334	186	226	195
Total Gross Profit	37	2,163	2,485	2,678	2,598	2,408	2,463
Total Revenue	37	2,163	2,485	2,678	2,598	2,408	2,463
Operating Revenue	37	2,163	2,485	2,678	2,598	2,408	2,463
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	-119	2,136	2,213	2,344	2,412	2,183	2,269
Selling, General & Admin Expense	-	-	373	397	450	451	469
Depreciation Expense	1,219	1,445	1,691	1,820	1,758	1,576	1,621
Other Operating Expenses / (Income)	-1,339	511	149	127	194	155	178
Impairment Charge	-	-	0.00	0.00	10	0.00	0.00
Total Other Income / (Expense), net	0.00	0.00	-0.19	-5.32	-37	-29	-31
Interest & Investment Income	-	-	-	-	-37	-29	-31
Income Tax Expense	31	52	38	85	50	57	-34
Basic Earnings per Share	$2.84	$0.47	($0.91)	$3.69	$1.90	$3.02	$4.63
Weighted Average Basic Shares Outstanding	69.13M	67.32M	67.26M	66.03M	51.92M	46.03M	42.58M
Diluted Earnings per Share	$2.78	$0.47	($0.90)	$3.67	$1.90	$2.98	$4.53
Weighted Average Diluted Shares Outstanding	70.60M	67.32M	68.02M	66.42M	52.08M	46.55M	43.55M
Weighted Average Basic & Diluted Shares Outstanding	-	-	67.73M	55.16M	48.04M	43.69M	40.82M
Cash Dividends to Common per Share	$0.13	$0.15	$0.17	-	-	-	$0.48

This table shows Aaron's' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	36	48	37	35	19	22	34	84	58	35	38
Consolidated Net Income / (Loss)	36	48	37	35	19	22	34	84	58	35	38
Net Income / (Loss) Continuing Operations	36	48	37	35	19	22	34	84	58	35	38
Total Pre-Tax Income	54	68	52	48	29	32	48	42	42	47	53
Total Operating Income	62	76	59	55	35	40	56	49	50	56	61
Total Gross Profit	612	655	593	583	577	642	592	606	623	684	605
Total Revenue	612	655	593	583	577	642	592	606	623	684	605
Operating Revenue	612	655	593	583	577	642	592	606	623	684	605
Total Cost of Revenue	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00
Total Operating Expenses	550	579	534	528	542	602	536	557	573	628	544
Selling, General & Admin Expense	112	105	108	109	129	127	108	111	123	119	116
Depreciation Expense	399	435	385	382	374	432	385	401	404	460	385
Other Operating Expenses / (Income)	38	38	41	37	39	43	44	45	47	48	43
Total Other Income / (Expense), net	-8.70	-8.49	-7.28	-6.78	-6.86	-8.25	-7.34	-7.38	-8.32	-9.09	-8.15
Interest & Investment Income	-	-	-7.28	-6.78	-	-8.25	-7.34	-7.38	-	-9.09	-8.15
Income Tax Expense	18	20	15	13	9.94	9.60	15	-42	-16	13	14
Basic Earnings per Share	$0.69	$1.00	$0.80	$0.77	$0.45	$0.50	$0.79	$1.99	$1.35	$0.85	$0.96
Weighted Average Basic Shares Outstanding	51.92M	47.85M	46.47M	45.52M	46.03M	43.70M	42.96M	42.26M	42.58M	40.84M	40.13M
Diluted Earnings per Share	$0.69	$1.00	$0.79	$0.76	$0.43	$0.49	$0.77	$1.94	$1.33	$0.83	$0.95
Weighted Average Diluted Shares Outstanding	52.08M	48.14M	46.90M	46.13M	46.55M	44.53M	43.72M	43.17M	43.55M	41.85M	40.56M
Weighted Average Basic & Diluted Shares Outstanding	48.04M	46.74M	45.71M	44.72M	43.69M	43.17M	42.32M	41.54M	40.82M	40.35M	39.54M
Cash Dividends to Common per Share	-	$0.00	$0.00	$0.00	-	$0.12	$0.12	$0.12	-	$0.13	$0.13

This table details how cash moves in and out of Aaron's' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-36	42	-21	134	-38	24	-60
Net Cash From Operating Activities	356	317	456	246	242	204	139
Net Cash From Continuing Operating Activities	356	317	456	246	242	204	139
Net Income / (Loss) Continuing Operations	196	31	-61	244	99	139	197
Consolidated Net Income / (Loss)	196	31	-61	244	99	139	197
Depreciation Expense	1,822	2,077	2,257	1,853	1,792	1,608	1,648
Non-Cash Adjustments To Reconcile Net Income	-1,493	-1,505	-1,422	-1,663	-1,256	-1,195	-1,296
Changes in Operating Assets and Liabilities, net	-168	-287	-318	-188	-392	-348	-411
Net Cash From Investing Activities	-263	-106	-115	-82	-54	-39	-79
Net Cash From Continuing Investing Activities	-263	-106	-115	-82	-54	-39	-79
Purchase of Property, Plant & Equipment	-79	-93	-64	-9.56	-9.67	-9.62	-8.32
Sale of Property, Plant & Equipment	9.19	14	7.48	0.08	0.03	0.05	0.13
Other Investing Activities, net	-7.59	-17	-43	-50	-44	-29	-71
Net Cash From Financing Activities	-129	-169	-363	-30	-227	-142	-119
Net Cash From Continuing Financing Activities	-129	-169	-363	-30	-227	-142	-119
Repayment of Debt	-98	-85	-301	-51	-1.60	-0.03	-2.78
Repurchase of Preferred Equity	-	0.00	0.00	-429	-0.27	0.00	0.00
Repurchase of Common Equity	-169	-69	0.00	-142	-224	-140	-139
Payment of Dividends	-6.24	-9.44	-14	-	0.00	0.00	-20
Issuance of Debt	154	0.00	5.63	592	0.00	0.00	50
Other Financing Activities, net	-9.37	-5.29	-54	-0.53	-1.75	-2.27	-7.30
Cash Interest Paid	16	16	10	1.45	36	37	37
Cash Income Taxes Paid	-64	-0.73	29	54	62	100	50

This table details how cash moves in and out of Aaron's' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-90	118	2.99	42	-139	97	-2.69	-28	-126	118	8.73
Net Cash From Operating Activities	-41	157	48	87	-88	136	55	32	-84	210	70
Net Cash From Continuing Operating Activities	-41	157	48	87	-88	136	55	32	-84	210	70
Net Income / (Loss) Continuing Operations	36	48	37	35	19	22	34	84	58	35	38
Consolidated Net Income / (Loss)	36	48	37	35	19	22	34	84	58	35	38
Depreciation Expense	407	443	393	390	382	440	391	407	410	467	391
Non-Cash Adjustments To Reconcile Net Income	-378	-278	-275	-258	-384	-260	-294	-282	-459	-234	-251
Changes in Operating Assets and Liabilities, net	-107	-56	-107	-80	-105	-66	-75	-177	-93	-57	-109
Net Cash From Investing Activities	-14	-0.59	-10	-8.14	-20	-3.60	-14	-18	-44	-4.09	-31
Net Cash From Continuing Investing Activities	-14	-0.59	-10	-8.14	-20	-3.60	-14	-18	-44	-4.09	-31
Purchase of Property, Plant & Equipment	-2.19	-1.68	-2.71	-2.56	-2.66	-2.10	-1.90	-2.04	-2.28	-1.96	-1.93
Other Investing Activities, net	-11	1.08	-7.33	-5.60	-17	-1.52	-12	-16	-41	-2.13	-29
Net Cash From Financing Activities	-36	-39	-35	-37	-31	-35	-44	-42	1.94	-88	-30
Net Cash From Continuing Financing Activities	-36	-39	-35	-37	-31	-35	-44	-42	1.94	-88	-30
Repurchase of Common Equity	-36	-36	-35	-36	-31	-24	-37	-37	-40	-26	-26
Payment of Dividends	-	0.00	-	-	-	-5.22	-5.13	-5.08	-4.97	-5.27	-5.18
Other Financing Activities, net	0.49	-2.39	0.47	-0.64	0.30	-5.07	-2.00	-0.38	0.15	-6.72	0.37
Cash Interest Paid	18	0.27	18	0.24	18	0.22	18	0.23	18	0.51	18
Cash Income Taxes Paid	31	2.53	51	23	24	-3.84	17	19	18	0.30	45

This table presents Aaron's' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	3,298	1,317	1,622	1,492	1,491	1,514
Total Current Assets	170	137	299	264	307	265
Cash & Equivalents	58	37	170	132	155	96
Accounts Receivable	67	61	66	65	68	80
Prepaid Expenses	27	40	48	48	51	78
Current Deferred & Refundable Income Taxes	18	0.00	14	19	33	11
Plant, Property, & Equipment, net	30	0.00	0.00	0.00	24	21
Total Noncurrent Assets	3,098	1,180	1,323	1,228	1,160	1,228
Noncurrent Note & Lease Receivables	727	689	833	779	760	827
Goodwill	289	289	306	296	296	296
Intangible Assets	177	154	137	114	92	74
Noncurrent Deferred & Refundable Income Taxes	-	0.00	2.76	2.96	2.98	26
Other Noncurrent Operating Assets	24	47	43	36	9.27	4.04
Total Liabilities & Shareholders' Equity	3,298	1,317	1,622	1,492	1,491	1,514
Total Liabilities	1,561	331	942	921	900	863
Total Current Liabilities	1,251	125	181	172	187	134
Accounts Payable	59	78	136	135	151	93
Customer Deposits	44	47	45	37	36	41
Total Noncurrent Liabilities	309	206	761	749	713	729
Long-Term Debt	0.00	50	590	591	592	644
Noncurrent Deferred & Payable Income Tax Liabilities	100	127	146	137	105	74
Other Noncurrent Operating Liabilities	209	30	25	21	16	11
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,737	986	679	570	591	650
Total Preferred & Common Equity	1,737	986	679	570	591	650
Total Common Equity	1,737	986	679	570	591	650
Common Stock	336	364	373	380	393	400
Retained Earnings	2,030	1,236	1,056	1,154	1,293	1,469
Other Equity Adjustments	-	-	-749	-964	-1,095	-1,219

This table presents Aaron's' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	1,478	1,491	1,510	1,483	1,489	1,462	1,461	1,446	1,470	1,455
Total Current Assets	264	339	373	375	418	375	372	369	362	367
Cash & Equivalents	127	222	250	253	295	253	250	222	213	222
Accounts Receivable	70	57	56	53	56	62	61	67	67	61
Prepaid Expenses	54	50	54	50	47	49	50	69	73	76
Current Deferred & Refundable Income Taxes	13	11	14	20	21	12	10	11	9.34	8.82
Plant, Property, & Equipment, net	25	25	23	24	24	22	22	21	21	21
Total Noncurrent Assets	1,189	1,128	1,113	1,084	1,047	1,064	1,067	1,056	1,087	1,066
Noncurrent Note & Lease Receivables	739	696	694	672	641	675	683	676	691	675
Goodwill	306	296	296	296	296	296	296	296	296	296
Intangible Assets	126	120	109	103	97	86	82	78	70	66
Noncurrent Deferred & Refundable Income Taxes	2.76	2.76	2.96	2.85	2.85	2.47	2.37	2.37	26	26
Other Noncurrent Operating Assets	16	12	11	11	9.93	4.47	4.12	3.75	3.73	3.35
Total Liabilities & Shareholders' Equity	1,478	1,491	1,510	1,483	1,489	1,462	1,461	1,446	1,470	1,455
Total Liabilities	922	925	925	889	891	877	879	816	815	786
Total Current Liabilities	162	172	187	163	177	173	185	128	147	128
Accounts Payable	126	138	152	131	147	140	150	95	111	93
Customer Deposits	36	34	34	33	31	34	35	33	36	36
Total Noncurrent Liabilities	759	754	738	726	714	703	694	687	668	658
Long-Term Debt	590	591	591	592	592	593	593	593	594	594
Noncurrent Deferred & Payable Income Tax Liabilities	146	141	127	116	105	96	87	82	64	54
Other Noncurrent Operating Liabilities	24	22	20	18	17	15	14	12	10	9.17
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	557	566	585	594	598	585	582	631	654	669
Total Preferred & Common Equity	557	566	585	594	598	585	582	631	654	669
Total Common Equity	557	566	585	594	598	585	582	631	654	669
Common Stock	374	377	378	384	389	388	389	395	386	391
Retained Earnings	1,102	1,118	1,202	1,239	1,274	1,310	1,338	1,417	1,499	1,532
Other Equity Adjustments	-	-	-996	-1,030	-1,065	-1,112	-1,145	-1,181	-1,231	-1,254

This table displays calculated financial ratios and metrics derived from Aaron's' official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	5,696.61%	14.86%	7.78%	-2.99%	-7.30%	2.29%
EBITDA Growth	0.00%	6.38%	20.14%	-13.53%	-9.58%	-7.25%	0.49%
EBIT Growth	0.00%	-82.39%	884.19%	22.73%	-44.34%	21.54%	-13.62%
NOPAT Growth	0.00%	-119.64%	1,049.78%	5.87%	-50.06%	29.15%	47.18%
Net Income Growth	0.00%	-83.96%	-295.30%	496.25%	-59.47%	40.65%	42.07%
EPS Growth	0.00%	-83.96%	-291.49%	507.78%	-48.23%	56.84%	52.01%
Operating Cash Flow Growth	0.00%	-11.03%	43.75%	-46.06%	-1.42%	-15.77%	-32.17%
Free Cash Flow Firm Growth	0.00%	0.00%	118.67%	-18.40%	30.30%	-16.56%	-59.65%
Invested Capital Growth	0.00%	0.00%	5.52%	9.95%	-6.31%	-0.13%	16.53%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-31.46%	-1.31%	-1.42%	1.90%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-3.05%	-1.87%	-2.77%	2.35%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-2.84%	3.14%	-10.71%	8.22%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-0.68%	0.76%	-10.52%	23.87%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-1.22%	-1.73%	-11.20%	24.62%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-1.61%	-4.52%	-13.37%	24.79%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-12.02%	23.59%	3.53%	-18.91%	2.83%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	4.23%	-26.26%	-21.42%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	10.15%	10.09%	14.84%	19.54%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	5,302.68%	97.31%	101.79%	81.66%	76.11%	76.15%	74.81%
Operating Margin	420.17%	1.28%	10.94%	12.45%	7.15%	9.37%	7.91%
EBIT Margin	420.17%	1.28%	10.94%	12.45%	7.15%	9.37%	7.91%
Profit (Net Income) Margin	525.78%	1.45%	-2.47%	9.10%	3.80%	5.77%	8.01%
Tax Burden Percent	125.13%	113.98%	-22.63%	74.21%	66.59%	70.76%	120.56%
Interest Burden Percent	100.00%	100.00%	99.93%	98.40%	79.85%	86.97%	83.95%
Effective Tax Rate	20.09%	189.14%	13.97%	25.79%	33.41%	29.24%	-20.56%
Return on Invested Capital (ROIC)	0.00%	-5.20%	24.02%	23.59%	11.62%	15.52%	21.11%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-19.40%	100.04%	21.77%	5.95%	10.87%	13.45%
Return on Net Nonoperating Assets (RNNOA)	0.00%	8.82%	-28.53%	5.66%	4.18%	8.38%	10.67%
Return on Equity (ROE)	0.00%	3.62%	-4.51%	29.25%	15.80%	23.90%	31.77%
Cash Return on Invested Capital (CROIC)	0.00%	-205.20%	18.65%	14.12%	18.13%	15.65%	5.84%
Operating Return on Assets (OROA)	0.00%	0.84%	11.78%	22.70%	11.92%	15.13%	12.97%
Return on Assets (ROA)	0.00%	0.95%	-2.66%	16.57%	6.34%	9.31%	13.13%
Return on Common Equity (ROCE)	0.00%	3.62%	-4.51%	29.25%	15.80%	23.90%	31.77%
Return on Equity Simple (ROE_SIMPLE)	0.00%	1.81%	-6.23%	35.85%	17.30%	23.48%	30.33%
Net Operating Profit after Tax (NOPAT)	125	-25	234	248	124	160	235
NOPAT Margin	335.77%	-1.14%	9.41%	9.24%	4.76%	6.63%	9.54%
Net Nonoperating Expense Percent (NNEP)	0.00%	14.20%	-76.03%	1.83%	5.67%	4.64%	7.66%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	10.64%	13.49%	18.16%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	15.00%	14.84%	17.34%	18.73%	19.04%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	-320.17%	98.72%	89.06%	87.55%	92.85%	90.63%	92.09%
Earnings before Interest and Taxes (EBIT)	157	28	272	334	186	226	195
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,979	2,105	2,529	2,187	1,977	1,834	1,843
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	4.34	4.33	1.46	2.31	2.70
Price to Tangible Book Value (P/TBV)	0.00	0.00	7.88	12.46	5.22	6.71	6.26
Price to Revenue (P/Rev)	0.00	0.00	1.72	1.10	0.32	0.57	0.71
Price to Earnings (P/E)	0.00	0.00	0.00	12.07	8.46	9.84	8.90
Dividend Yield	0.00%	0.00%	17.96%	0.00%	0.00%	0.00%	1.14%
Earnings Yield	0.00%	0.00%	0.00%	8.29%	11.83%	10.17%	11.24%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	4.29	3.06	1.26	1.75	1.92
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	1.73	1.25	0.50	0.75	0.94
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	1.70	1.54	0.65	0.98	1.25
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	15.79	10.07	6.97	7.99	11.82
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	18.36	13.57	10.47	11.29	9.80
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	9.41	13.65	5.34	8.82	16.63
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	23.65	22.68	6.70	11.19	35.46
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.05	0.87	1.04	1.00	0.99
Long-Term Debt to Equity	0.00	0.00	0.05	0.87	1.04	1.00	0.99
Financial Leverage	0.00	-0.45	-0.29	0.26	0.70	0.77	0.79
Leverage Ratio	0.00	1.90	1.69	1.76	2.49	2.57	2.42
Compound Leverage Factor	0.00	1.90	1.69	1.74	1.99	2.23	2.03
Debt to Total Capital	0.00%	0.00%	4.83%	46.46%	50.88%	50.04%	49.74%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	4.83%	46.46%	50.88%	50.04%	49.74%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	100.00%	95.17%	53.54%	49.12%	49.96%	50.26%
Debt to EBITDA	0.00	0.00	0.02	0.27	0.30	0.32	0.35
Net Debt to EBITDA	0.00	0.00	0.01	0.19	0.23	0.24	0.30
Long-Term Debt to EBITDA	0.00	0.00	0.02	0.27	0.30	0.32	0.35
Debt to NOPAT	0.00	0.00	0.21	2.38	4.78	3.71	2.74
Net Debt to NOPAT	0.00	0.00	0.06	1.69	3.71	2.74	2.33
Long-Term Debt to NOPAT	0.00	0.00	0.21	2.38	4.78	3.71	2.74
Altman Z-Score	0.00	0.00	11.64	5.20	3.85	4.34	4.73
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	0.14	1.10	1.65	1.53	1.64	1.97
Quick Ratio	0.00	0.10	0.78	1.31	1.14	1.19	1.31
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-972	181	148	193	161	65
Operating Cash Flow to CapEx	511.81%	402.15%	801.86%	2,595.35%	2,513.52%	2,134.57%	1,692.43%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	970.48	27.82	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	2,438.31	46.21	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	2,134.23	44.43	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.66	1.08	1.82	1.67	1.61	1.64
Accounts Receivable Turnover	0.00	32.25	38.72	42.00	39.72	36.38	33.27
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	71.24	0.00	0.00	0.00	0.00	108.17
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	11.32	9.43	8.69	9.19	10.03	10.97
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	11.32	9.43	8.69	9.19	10.03	10.97
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	947	999	1,099	1,030	1,028	1,198
Invested Capital Turnover	0.00	4.57	2.55	2.55	2.44	2.34	2.21
Increase / (Decrease) in Invested Capital	0.00	947	52	99	-69	-1.37	170
Enterprise Value (EV)	0.00	0.00	4,291	3,358	1,294	1,802	2,304
Market Capitalization	0.00	0.00	4,278	2,939	835	1,365	1,756
Book Value per Share	$0.00	$25.81	$14.60	$10.39	$11.40	$13.22	$15.65
Tangible Book Value per Share	$0.00	$18.89	$8.04	$3.61	$3.20	$4.55	$6.75
Total Capital	0.00	1,737	1,036	1,269	1,161	1,184	1,294
Total Debt	0.00	0.00	50	590	591	592	644
Total Long-Term Debt	0.00	0.00	50	590	591	592	644
Net Debt	0.00	-58	13	419	459	437	548
Capital Expenditures (CapEx)	70	79	57	9.48	9.65	9.57	8.19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-1,139	-24	-52	-40	-35	35
Debt-free Net Working Capital (DFNWC)	0.00	-1,081	13	118	92	120	131
Net Working Capital (NWC)	0.00	-1,081	13	118	92	120	131
Net Nonoperating Expense (NNE)	-71	-56	295	3.95	25	21	38
Net Nonoperating Obligations (NNO)	0.00	-790	13	419	459	437	548
Total Depreciation and Amortization (D&A)	1,822	2,077	2,257	1,853	1,792	1,608	1,648
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-52.66%	-0.97%	-1.95%	-1.55%	-1.47%	1.42%
Debt-free Net Working Capital to Revenue	0.00%	-49.99%	0.51%	4.40%	3.53%	4.98%	5.30%
Net Working Capital to Revenue	0.00%	-49.99%	0.51%	4.40%	3.53%	4.98%	5.30%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.91)	$3.69	$1.90	$3.02	$4.63
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	67.26M	66.03M	51.92M	46.03M	42.58M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.90)	$3.67	$1.90	$2.98	$4.53
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	68.02M	66.42M	52.08M	46.55M	43.55M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	67.73M	55.16M	48.04M	43.69M	40.82M
Normalized Net Operating Profit after Tax (NOPAT)	125	145	234	248	130	160	136
Normalized NOPAT Margin	335.77%	6.69%	9.41%	9.24%	5.02%	6.63%	5.54%
Pre Tax Income Margin	420.17%	1.28%	10.93%	12.26%	5.71%	8.15%	6.64%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	1,453.28	62.66	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	1,250.20	46.50	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	1,149.20	60.88	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	946.12	44.72	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	3.18%	29.99%	-22.42%	0.00%	0.00%	0.00%	10.34%
Augmented Payout Ratio	89.18%	250.04%	-22.42%	58.45%	226.52%	100.53%	80.63%

This table displays calculated financial ratios and metrics derived from Aaron's' official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.33%	-7.79%	-8.71%	-6.86%	-5.67%	-2.03%	-0.12%	3.99%	7.95%	6.58%	2.11%
EBITDA Growth	-7.42%	-6.39%	-6.71%	-4.94%	-11.11%	-7.72%	-1.13%	2.67%	10.14%	9.07%	1.08%
EBIT Growth	9.94%	53.80%	60.54%	49.10%	-43.35%	-47.66%	-6.10%	-10.30%	41.85%	41.45%	9.06%
NOPAT Growth	3.19%	60.47%	61.12%	85.41%	-45.04%	-48.76%	-8.31%	147.30%	199.37%	49.42%	14.26%
Net Income Growth	-4.59%	77.01%	91.02%	118.76%	-48.52%	-54.27%	-9.25%	139.81%	209.81%	58.05%	13.94%
EPS Growth	21.05%	104.08%	113.51%	137.50%	-37.68%	-51.00%	-2.53%	155.26%	209.30%	69.39%	23.38%
Operating Cash Flow Growth	16.88%	60.14%	-16.51%	-31.59%	-117.12%	-13.78%	15.50%	-63.42%	4.32%	54.66%	26.17%
Free Cash Flow Firm Growth	289.32%	341.02%	836.04%	-4.90%	-78.07%	-82.51%	-64.01%	-110.33%	-513.89%	-336.42%	-253.71%
Invested Capital Growth	-6.31%	-10.81%	-8.56%	-4.27%	-0.13%	-0.15%	-0.84%	11.95%	16.53%	11.91%	12.57%
Revenue Q/Q Growth	-2.19%	7.03%	-9.51%	-1.68%	-0.94%	11.17%	-7.74%	2.36%	2.83%	9.75%	-11.61%
EBITDA Q/Q Growth	0.43%	10.57%	-12.98%	-1.63%	-6.08%	14.78%	-6.77%	2.15%	0.76%	13.66%	-13.59%
EBIT Q/Q Growth	69.60%	21.86%	-22.06%	-7.44%	-35.56%	12.58%	39.83%	-11.58%	1.91%	12.26%	7.82%
NOPAT Q/Q Growth	94.63%	28.95%	-21.53%	-5.86%	-42.31%	20.24%	40.40%	153.92%	-30.17%	-39.98%	7.36%
Net Income Q/Q Growth	125.46%	33.11%	-22.52%	-5.93%	-46.95%	18.26%	53.76%	148.60%	-31.46%	-39.67%	10.84%
EPS Q/Q Growth	115.63%	44.93%	-21.00%	-3.80%	-43.42%	13.95%	57.14%	151.95%	-31.44%	-37.59%	14.46%
Operating Cash Flow Q/Q Growth	-131.92%	487.05%	-69.53%	81.73%	-201.31%	253.71%	-59.19%	-42.44%	-364.97%	348.47%	-66.71%
Free Cash Flow Firm Q/Q Growth	32.50%	49.48%	-22.00%	-38.44%	-69.44%	19.19%	60.51%	-117.67%	-1,124.48%	31.92%	-4.36%
Invested Capital Q/Q Growth	10.09%	-10.03%	0.67%	-3.98%	14.84%	-10.05%	-0.02%	8.40%	19.54%	-13.62%	0.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	76.76%	79.30%	76.26%	76.30%	72.34%	74.69%	75.48%	75.32%	73.80%	76.44%	74.72%
Operating Margin	10.20%	11.61%	10.00%	9.42%	6.13%	6.20%	9.40%	8.12%	8.05%	8.23%	10.04%
EBIT Margin	10.20%	11.61%	10.00%	9.42%	6.13%	6.20%	9.40%	8.12%	8.05%	8.23%	10.04%
Profit (Net Income) Margin	5.90%	7.33%	6.28%	6.01%	3.22%	3.42%	5.70%	13.85%	9.23%	5.08%	6.36%
Tax Burden Percent	67.16%	71.07%	71.55%	72.78%	65.15%	69.59%	69.87%	200.64%	137.49%	73.51%	73.20%
Interest Burden Percent	86.06%	88.84%	87.72%	87.66%	80.61%	79.28%	86.82%	85.00%	83.42%	83.86%	86.58%
Effective Tax Rate	32.84%	28.93%	28.45%	27.22%	34.85%	30.41%	30.13%	-100.64%	-37.49%	26.49%	26.80%
Return on Invested Capital (ROIC)	16.72%	21.36%	18.23%	18.29%	9.34%	11.17%	16.94%	41.52%	24.49%	15.47%	18.84%
ROIC Less NNEP Spread (ROIC-NNEP)	15.39%	19.74%	16.93%	16.81%	8.34%	9.48%	15.44%	37.09%	22.17%	13.62%	17.17%
Return on Net Nonoperating Assets (RNNOA)	10.82%	12.12%	11.80%	9.61%	6.43%	5.52%	8.95%	20.18%	17.58%	7.91%	9.82%
Return on Equity (ROE)	27.54%	33.48%	30.02%	27.90%	15.78%	16.69%	25.89%	61.70%	42.07%	23.39%	28.65%
Cash Return on Invested Capital (CROIC)	18.13%	26.11%	25.40%	23.86%	15.65%	14.55%	14.81%	8.71%	5.84%	14.03%	13.94%
Operating Return on Assets (OROA)	17.02%	19.16%	16.79%	15.43%	9.89%	10.00%	15.30%	13.38%	13.20%	14.07%	17.35%
Return on Assets (ROA)	9.84%	12.10%	10.54%	9.85%	5.19%	5.52%	9.28%	22.82%	15.14%	8.68%	11.00%
Return on Common Equity (ROCE)	27.54%	33.48%	30.02%	27.90%	15.78%	16.69%	25.89%	61.70%	42.07%	23.39%	28.65%
Return on Equity Simple (ROE_SIMPLE)	0.00%	20.45%	23.14%	26.14%	0.00%	19.27%	18.79%	25.09%	0.00%	32.09%	32.11%
Net Operating Profit after Tax (NOPAT)	42	54	42	40	23	28	39	99	69	41	44
NOPAT Margin	6.85%	8.25%	7.16%	6.85%	3.99%	4.32%	6.57%	16.30%	11.07%	6.05%	7.35%
Net Nonoperating Expense Percent (NNEP)	1.33%	1.61%	1.30%	1.48%	1.00%	1.69%	1.50%	4.43%	2.32%	1.86%	1.67%
Return On Investment Capital (ROIC_SIMPLE)	3.61%	-	-	-	1.95%	2.35%	-	-	5.33%	3.32%	3.52%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	18.36%	16.07%	18.17%	18.73%	22.33%	19.84%	18.22%	18.33%	19.70%	17.44%	19.22%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	89.80%	88.39%	90.00%	90.58%	93.87%	93.80%	90.60%	91.88%	91.95%	91.77%	89.96%
Earnings before Interest and Taxes (EBIT)	62	76	59	55	35	40	56	49	50	56	61
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	470	519	452	445	418	479	447	457	460	523	452
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.46	1.95	2.51	2.51	2.31	2.60	2.57	3.25	2.70	1.66	1.77
Price to Tangible Book Value (P/TBV)	5.22	6.32	7.66	7.34	6.71	7.49	7.34	7.99	6.26	3.76	3.86
Price to Revenue (P/Rev)	0.32	0.45	0.60	0.62	0.57	0.63	0.63	0.85	0.71	0.43	0.47
Price to Earnings (P/E)	8.46	9.52	10.85	9.62	9.84	13.48	13.70	12.97	8.90	5.17	5.52
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.35%	0.69%	0.74%	1.14%	1.84%	1.70%
Earnings Yield	11.83%	10.51%	9.21%	10.40%	10.17%	7.42%	7.30%	7.71%	11.24%	19.34%	18.13%
Enterprise Value to Invested Capital (EV/IC)	1.26	1.60	1.96	2.01	1.75	2.01	1.99	2.42	1.92	1.42	1.50
Enterprise Value to Revenue (EV/Rev)	0.50	0.58	0.74	0.74	0.75	0.78	0.77	1.00	0.94	0.59	0.62
Enterprise Value to EBITDA (EV/EBITDA)	0.65	0.76	0.96	0.95	0.98	1.04	1.03	1.35	1.25	0.78	0.82
Enterprise Value to EBIT (EV/EBIT)	6.97	6.97	7.80	7.13	7.99	9.82	9.91	13.46	11.82	6.94	7.19
Enterprise Value to NOPAT (EV/NOPAT)	10.47	10.26	11.39	10.09	11.29	13.95	14.18	12.78	9.80	5.92	6.15
Enterprise Value to Operating Cash Flow (EV/OCF)	5.34	4.91	6.26	7.15	8.82	10.19	9.69	17.99	16.63	6.89	6.85
Enterprise Value to Free Cash Flow (EV/FCFF)	6.70	5.77	7.38	8.25	11.19	13.81	13.38	29.32	35.46	10.67	11.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.04	1.01	1.00	0.99	1.00	1.01	1.02	0.94	0.99	0.91	0.89
Long-Term Debt to Equity	1.04	1.01	1.00	0.99	1.00	1.01	1.02	0.94	0.99	0.91	0.89
Financial Leverage	0.70	0.61	0.70	0.57	0.77	0.58	0.58	0.54	0.79	0.58	0.57
Leverage Ratio	2.49	2.53	2.57	2.56	2.57	2.54	2.50	2.39	2.42	2.37	2.33
Compound Leverage Factor	2.14	2.25	2.26	2.24	2.07	2.01	2.17	2.03	2.02	1.98	2.02
Debt to Total Capital	50.88%	50.28%	49.91%	49.74%	50.04%	50.32%	50.47%	48.47%	49.74%	47.57%	47.05%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	50.88%	50.28%	49.91%	49.74%	50.04%	50.32%	50.47%	48.47%	49.74%	47.57%	47.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	49.12%	49.72%	50.09%	50.26%	49.96%	49.68%	49.53%	51.53%	50.26%	52.43%	52.95%
Debt to EBITDA	0.30	0.30	0.31	0.31	0.32	0.33	0.33	0.33	0.35	0.31	0.31
Net Debt to EBITDA	0.23	0.18	0.18	0.16	0.24	0.19	0.19	0.21	0.30	0.20	0.20
Long-Term Debt to EBITDA	0.30	0.30	0.31	0.31	0.32	0.33	0.33	0.33	0.35	0.31	0.31
Debt to NOPAT	4.78	4.10	3.68	3.32	3.71	4.45	4.57	3.13	2.74	2.40	2.35
Net Debt to NOPAT	3.71	2.37	2.11	1.67	2.74	2.55	2.64	1.96	2.33	1.54	1.47
Long-Term Debt to NOPAT	4.78	4.10	3.68	3.32	3.71	4.45	4.57	3.13	2.74	2.40	2.35
Altman Z-Score	3.58	3.85	4.16	4.17	3.91	4.19	4.22	4.86	4.42	4.23	4.44
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.53	2.00	2.30	2.36	1.64	2.17	2.01	2.88	1.97	2.46	2.86
Quick Ratio	1.14	1.64	1.87	1.98	1.19	1.82	1.68	2.25	1.31	1.90	2.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	111	166	130	80	24	29	47	-8.25	-101	-69	-72
Operating Cash Flow to CapEx	-1,868.21%	9,409.38%	1,769.78%	3,399.42%	-3,337.30%	6,519.36%	2,910.88%	1,564.57%	-3,726.86%	10,699.75%	3,613.81%
Free Cash Flow to Firm to Interest Expense	0.00	19.59	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	18.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	18.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.67	1.65	1.68	1.64	1.61	1.61	1.63	1.65	1.64	1.71	1.73
Accounts Receivable Turnover	39.72	39.64	40.45	43.49	36.38	40.64	41.75	39.31	33.27	38.96	41.29
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	106.50	101.29	100.13	0.00	106.17	106.04	106.67	108.17	116.30	117.99
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	9.19	9.21	9.02	8.39	10.03	8.98	8.74	9.29	10.97	9.37	8.84
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	9.19	9.21	9.02	8.39	10.03	8.98	8.74	9.29	10.97	9.37	8.84
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,030	926	932	895	1,028	925	925	1,002	1,198	1,035	1,041
Invested Capital Turnover	2.44	2.59	2.55	2.67	2.34	2.59	2.58	2.55	2.21	2.56	2.56
Increase / (Decrease) in Invested Capital	-69	-112	-87	-40	-1.37	-1.39	-7.79	107	170	110	116
Enterprise Value (EV)	1,294	1,480	1,830	1,800	1,802	1,860	1,840	2,424	2,304	1,466	1,557
Market Capitalization	835	1,138	1,491	1,503	1,365	1,520	1,497	2,052	1,756	1,086	1,184
Book Value per Share	$11.40	$12.17	$12.70	$13.09	$13.22	$13.39	$13.48	$14.90	$15.65	$16.03	$16.57
Tangible Book Value per Share	$3.20	$3.75	$4.16	$4.48	$4.55	$4.65	$4.73	$6.07	$6.75	$7.07	$7.60
Total Capital	1,161	1,176	1,185	1,190	1,184	1,178	1,175	1,224	1,294	1,248	1,263
Total Debt	591	591	592	592	592	593	593	593	644	594	594
Total Long-Term Debt	591	591	592	592	592	593	593	593	644	594	594
Net Debt	459	341	339	297	437	340	343	372	548	381	372
Capital Expenditures (CapEx)	2.18	1.67	2.71	2.56	2.65	2.08	1.90	2.04	2.27	1.96	1.93
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-40	-63	-41	-54	-35	-51	-63	19	35	1.52	17
Debt-free Net Working Capital (DFNWC)	92	187	212	241	120	202	187	241	131	215	239
Net Working Capital (NWC)	92	187	212	241	120	202	187	241	131	215	239
Net Nonoperating Expense (NNE)	5.84	6.03	5.21	4.93	4.47	5.74	5.13	15	11	6.68	5.96
Net Nonoperating Obligations (NNO)	459	341	339	297	437	340	343	372	548	381	372
Total Depreciation and Amortization (D&A)	407	443	393	390	382	440	391	407	410	467	391
Debt-free, Cash-free Net Working Capital to Revenue	-1.55%	-2.49%	-1.65%	-2.21%	-1.47%	-2.12%	-2.64%	0.78%	1.42%	0.06%	0.67%
Debt-free Net Working Capital to Revenue	3.53%	7.34%	8.52%	9.86%	4.98%	8.44%	7.81%	9.95%	5.30%	8.57%	9.49%
Net Working Capital to Revenue	3.53%	7.34%	8.52%	9.86%	4.98%	8.44%	7.81%	9.95%	5.30%	8.57%	9.49%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.69	$1.00	$0.80	$0.77	$0.45	$0.50	$0.79	$1.99	$1.35	$0.85	$0.96
Adjusted Weighted Average Basic Shares Outstanding	51.92M	47.85M	46.47M	45.52M	46.03M	43.70M	42.96M	42.26M	42.58M	40.84M	40.13M
Adjusted Diluted Earnings per Share	$0.69	$1.00	$0.79	$0.76	$0.43	$0.49	$0.77	$1.94	$1.33	$0.83	$0.95
Adjusted Weighted Average Diluted Shares Outstanding	52.08M	48.14M	46.90M	46.13M	46.55M	44.53M	43.72M	43.17M	43.55M	41.85M	40.56M
Adjusted Basic & Diluted Earnings per Share	$0.69	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	48.04M	46.74M	45.71M	44.72M	43.69M	43.17M	42.32M	41.54M	40.82M	40.35M	39.54M
Normalized Net Operating Profit after Tax (NOPAT)	42	54	42	40	23	28	39	34	35	41	44
Normalized NOPAT Margin	6.85%	8.25%	7.16%	6.85%	3.99%	4.32%	6.57%	5.69%	5.63%	6.05%	7.35%
Pre Tax Income Margin	8.78%	10.32%	8.77%	8.25%	4.94%	4.92%	8.16%	6.90%	6.71%	6.90%	8.69%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	8.96	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	6.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	8.76	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	6.17	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	4.63%	0.00%	0.00%	10.34%	9.73%	9.54%
Augmented Payout Ratio	226.52%	152.16%	86.62%	92.43%	100.53%	117.72%	117.92%	81.81%	80.63%	76.56%	69.74%

Key Financial Trends

PROG Holdings, Inc. (NYSE: PRG) has demonstrated steady financial performance over the past several quarters, with notable trends in revenue, profitability, cash flow, and balance sheet strength.

Revenue and Profitability:

Operating revenue remained robust, reaching $604.7 million in Q2 2025, showing growth compared to $592.2 million in Q2 2024.
Net income increased to $38.5 million in Q2 2025 from $33.8 million in Q2 2024, indicating improved profitability.
Earnings per share (EPS) also improved, with diluted EPS of $0.95 in Q2 2025 versus $0.77 in Q2 2024.
The company maintained positive operating income across all quarters, with $60.7 million recorded in Q2 2025.
Depreciation expense remains high (around $385-$460 million per quarter), reflecting significant capital investment and asset base amortization.

Cash Flow:

Net cash from operating activities was $69.9 million in Q2 2025, a significant increase from $55.4 million in Q2 2024, suggesting stronger cash generation.
Investing activities show consistent cash outflow (about $14 million to $44 million per quarter), mostly for property and equipment purchases and other investing activities.
The company repurchased common stock regularly, with $25.7 million spent in Q2 2025, continuing a trend of significant capital returned to shareholders.
Dividend payments increased slightly to $5.2 million in Q2 2025, reflecting ongoing shareholder returns but also a cash commitment.
Cash interest paid increased to $18.3 million in Q2 2025, signaling elevated debt-related expenses.

Balance Sheet and Capital Structure:

Total assets increased moderately to about $1.45 billion by Q2 2025, driven by stable current and noncurrent assets like lease receivables and goodwill.
Long-term debt remains substantial at approximately $594 million as of Q2 2025, consistent with past periods, indicating leverage that requires monitoring.
Common equity increased to $669 million at Q2 2025 from about $582 million in Q2 2024, strengthening the equity base.
Accounts payable and customer deposits fluctuate but remain manageable relative to current assets.

Summary: PROG Holdings continues to grow revenues and earnings steadily while generating positive cash flow from operations, indicative of solid core business performance. The company balances investment in growth with shareholder returns through dividends and share repurchases. However, the high and consistent depreciation expense coupled with significant long-term debt and interest expenses warrant continued attention to financial flexibility and capital management. The equity position has strengthened, supporting the company’s financial stability heading into the rest of 2025.

08/29/25 11:20 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Aaron's' Financials

When does Aaron's' financial year end?

According to the most recent income statement we have on file, Aaron's' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Aaron's' net income changed over the last 6 years?

Aaron's' net income appears to be on an upward trend, with a most recent value of $197.25 million in 2024, rising from $196.21 million in 2018. The previous period was $138.84 million in 2023. Find out what analysts predict for Aaron's in the coming months.

What is Aaron's' operating income?

Aaron's' total operating income in 2024 was $194.90 million, based on the following breakdown:

Total Gross Profit: $2.46 billion
Total Operating Expenses: $2.27 billion

How has Aaron's' revenue changed over the last 6 years?

Over the last 6 years, Aaron's' total revenue changed from $37.32 million in 2018 to $2.46 billion in 2024, a change of 6,501.4%.

How much debt does Aaron's have?

Aaron's' total liabilities were at $863.49 million at the end of 2024, a 4.0% decrease from 2023, and a 44.7% decrease since 2019.

How much cash does Aaron's have?

In the past 5 years, Aaron's' cash and equivalents has ranged from $36.65 million in 2020 to $170.16 million in 2021, and is currently $95.66 million as of their latest financial filing in 2024.

How has Aaron's' book value per share changed over the last 6 years?

Over the last 6 years, Aaron's' book value per share changed from 0.00 in 2018 to 15.65 in 2024, a change of 1,565.3%.

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This page (NYSE:PRG) was last updated on 8/29/2025 by MarketBeat.com Staff

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Aaron's (PRG) Financials

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Aaron's (PRG) Financials

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