Encore Capital (ECPG)
Market Price (5/26/2026): $80.12 | Market Cap: $1.7 BilSector: Financials | Industry: Consumer Finance
Encore Capital (ECPG)
Market Price (5/26/2026): $80.12Market Cap: $1.7 BilSector: FinancialsIndustry: Consumer Finance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 9.5% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 34% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10% Low stock price volatilityVol 12M is 35% Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Fintech & Digital Payments. Themes include Private Credit, and Consumer Debt Management. | Trading close to highsDist 52W High is -5.0%, Dist 3Y High is -5.0% Weak multi-year price returns3Y Excs Rtn is -6.0% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 218% Stock price has recently run up significantly12M Rtn12 month market price return is 110% Key risksECPG key risks include [1] a history of significant regulatory actions and financial penalties from bodies like the CFPB and [2] persistent operational challenges and impairments requiring restructuring in its European markets. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 9.5% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 34% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Low stock price volatilityVol 12M is 35% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Fintech & Digital Payments. Themes include Private Credit, and Consumer Debt Management. |
| Trading close to highsDist 52W High is -5.0%, Dist 3Y High is -5.0% |
| Weak multi-year price returns3Y Excs Rtn is -6.0% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 218% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 110% |
| Key risksECPG key risks include [1] a history of significant regulatory actions and financial penalties from bodies like the CFPB and [2] persistent operational challenges and impairments requiring restructuring in its European markets. |
Qualitative Assessment
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Encore Capital (ECPG) stock has gained about 45% since 1/31/2026 because of the following key factors:
1. Strong First Quarter 2026 Financial Performance and Upgraded Outlook. Encore Capital Group reported exceptional financial results for the first quarter of 2026, significantly surpassing expectations. Diluted earnings per share (EPS) doubled to $3.86, representing a 100% increase compared to $1.93 in the prior year, building on a previous quarter where EPS of $3.37 significantly beat estimates of $2.20. Total revenue for the quarter reached $475.4 million, up 21% year-over-year. Global collections also hit a record $718.4 million, marking a 19% increase. Driven by favorable purchasing conditions in the U.S. market, which saw $316 million in U.S. portfolio purchases, the company subsequently raised its full-year 2026 guidance. The revised outlook targets approximately $2.8 billion in global collections, an 8% increase, and an EPS of $13.00, representing a 19% rise.
2. Positive Analyst Sentiment and Increased Price Targets. The company benefited from a consensus "Moderate Buy" rating from multiple brokerages, with an average price target of $80.50. Several analysts reiterated or upgraded their ratings and increased price targets for ECPG shares during the period. For instance, Truist Financial set a $100.00 price objective in April, and Citizens Jmp increased their price target from $75.00 to $90.00 while issuing a "market outperform" rating in February. Additionally, Wall Street Zen upgraded Encore Capital Group from a "buy" to a "strong-buy" rating.
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1. Strong First Quarter 2026 Financial Performance and Upgraded Outlook. Encore Capital Group reported exceptional financial results for the first quarter of 2026, significantly surpassing expectations. Diluted earnings per share (EPS) doubled to $3.86, representing a 100% increase compared to $1.93 in the prior year, building on a previous quarter where EPS of $3.37 significantly beat estimates of $2.20. Total revenue for the quarter reached $475.4 million, up 21% year-over-year. Global collections also hit a record $718.4 million, marking a 19% increase. Driven by favorable purchasing conditions in the U.S. market, which saw $316 million in U.S. portfolio purchases, the company subsequently raised its full-year 2026 guidance. The revised outlook targets approximately $2.8 billion in global collections, an 8% increase, and an EPS of $13.00, representing a 19% rise.
2. Positive Analyst Sentiment and Increased Price Targets. The company benefited from a consensus "Moderate Buy" rating from multiple brokerages, with an average price target of $80.50. Several analysts reiterated or upgraded their ratings and increased price targets for ECPG shares during the period. For instance, Truist Financial set a $100.00 price objective in April, and Citizens Jmp increased their price target from $75.00 to $90.00 while issuing a "market outperform" rating in February. Additionally, Wall Street Zen upgraded Encore Capital Group from a "buy" to a "strong-buy" rating.
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Stock Movement Drivers
Fundamental Drivers
The 45.3% change in ECPG stock from 1/31/2026 to 5/25/2026 was primarily driven by a 18.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 55.20 | 80.20 | 45.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,561 | 1,851 | 18.6% |
| P/S Multiple | 0.8 | 0.9 | 14.6% |
| Shares Outstanding (Mil) | 23 | 22 | 6.9% |
| Cumulative Contribution | 45.3% |
Market Drivers
1/31/2026 to 5/25/2026| Return | Correlation | |
|---|---|---|
| ECPG | 45.3% | |
| Market (SPY) | 8.1% | 29.4% |
| Sector (XLF) | -2.3% | 39.1% |
Fundamental Drivers
The 92.9% change in ECPG stock from 10/31/2025 to 5/25/2026 was primarily driven by a 41.3% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 41.58 | 80.20 | 92.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,468 | 1,851 | 26.2% |
| P/S Multiple | 0.7 | 0.9 | 41.3% |
| Shares Outstanding (Mil) | 24 | 22 | 8.2% |
| Cumulative Contribution | 92.9% |
Market Drivers
10/31/2025 to 5/25/2026| Return | Correlation | |
|---|---|---|
| ECPG | 92.9% | |
| Market (SPY) | 9.9% | 26.8% |
| Sector (XLF) | 0.0% | 29.0% |
Fundamental Drivers
The 133.1% change in ECPG stock from 4/30/2025 to 5/25/2026 was primarily driven by a 50.6% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.40 | 80.20 | 133.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,316 | 1,851 | 40.6% |
| P/S Multiple | 0.6 | 0.9 | 50.6% |
| Shares Outstanding (Mil) | 24 | 22 | 10.1% |
| Cumulative Contribution | 133.1% |
Market Drivers
4/30/2025 to 5/25/2026| Return | Correlation | |
|---|---|---|
| ECPG | 133.1% | |
| Market (SPY) | 36.0% | 31.2% |
| Sector (XLF) | 8.2% | 34.1% |
Fundamental Drivers
The 56.1% change in ECPG stock from 4/30/2023 to 5/25/2026 was primarily driven by a 32.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 51.38 | 80.20 | 56.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,398 | 1,851 | 32.4% |
| Net Income Margin (%) | 13.9% | 16.0% | 15.0% |
| P/E Multiple | 6.2 | 5.9 | -5.4% |
| Shares Outstanding (Mil) | 24 | 22 | 8.3% |
| Cumulative Contribution | 56.1% |
Market Drivers
4/30/2023 to 5/25/2026| Return | Correlation | |
|---|---|---|
| ECPG | 56.1% | |
| Market (SPY) | 86.3% | 45.8% |
| Sector (XLF) | 64.4% | 45.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ECPG Return | 59% | -23% | 6% | -6% | 14% | 50% | 109% |
| Peers Return | 31% | -39% | 96% | 35% | 20% | -16% | 115% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| ECPG Win Rate | 75% | 42% | 58% | 25% | 58% | 80% | |
| Peers Win Rate | 63% | 38% | 55% | 57% | 62% | 32% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| ECPG Max Drawdown | -24% | -38% | -35% | -25% | -47% | -10% | |
| Peers Max Drawdown | -19% | -50% | -41% | -25% | -39% | -35% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PRAA, AXP, COF, SYF, AFRM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/22/2026 (YTD)
How Low Can It Go
| Event | ECPG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -47.1% | -18.8% |
| % Gain to Breakeven | 88.9% | 23.1% |
| Time to Breakeven | 231 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -30.1% | -9.5% |
| % Gain to Breakeven | 43.0% | 10.5% |
| Time to Breakeven | 768 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -25.1% | -6.7% |
| % Gain to Breakeven | 33.6% | 7.1% |
| Time to Breakeven | 982 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.6% | -24.5% |
| % Gain to Breakeven | 36.3% | 32.4% |
| Time to Breakeven | 1225 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -51.2% | -33.7% |
| % Gain to Breakeven | 105.0% | 50.9% |
| Time to Breakeven | 74 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -36.7% | -19.2% |
| % Gain to Breakeven | 58.1% | 23.8% |
| Time to Breakeven | 137 days | 105 days |
In The Past
Encore Capital's stock fell -47.1% during the 2025 US Tariff Shock. Such a loss loss requires a 88.9% gain to breakeven.
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| Event | ECPG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -47.1% | -18.8% |
| % Gain to Breakeven | 88.9% | 23.1% |
| Time to Breakeven | 231 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -30.1% | -9.5% |
| % Gain to Breakeven | 43.0% | 10.5% |
| Time to Breakeven | 768 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -25.1% | -6.7% |
| % Gain to Breakeven | 33.6% | 7.1% |
| Time to Breakeven | 982 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.6% | -24.5% |
| % Gain to Breakeven | 36.3% | 32.4% |
| Time to Breakeven | 1225 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -51.2% | -33.7% |
| % Gain to Breakeven | 105.0% | 50.9% |
| Time to Breakeven | 74 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -36.7% | -19.2% |
| % Gain to Breakeven | 58.1% | 23.8% |
| Time to Breakeven | 137 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -59.4% | -12.2% |
| % Gain to Breakeven | 146.6% | 13.9% |
| Time to Breakeven | 563 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -62.6% | -6.8% |
| % Gain to Breakeven | 167.4% | 7.3% |
| Time to Breakeven | 622 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -31.9% | -17.9% |
| % Gain to Breakeven | 46.8% | 21.8% |
| Time to Breakeven | 302 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -21.1% | -15.4% |
| % Gain to Breakeven | 26.7% | 18.2% |
| Time to Breakeven | 195 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -69.8% | -53.4% |
| % Gain to Breakeven | 231.5% | 114.4% |
| Time to Breakeven | 53 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -23.8% | -8.6% |
| % Gain to Breakeven | 31.3% | 9.5% |
| Time to Breakeven | 358 days | 47 days |
In The Past
Encore Capital's stock fell -47.1% during the 2025 US Tariff Shock. Such a loss loss requires a 88.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Encore Capital (ECPG)
Encore Capital Group, Inc., a specialty finance company, provides debt recovery solutions and other related services for consumers across financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery. It is also involved in the provision of early stage collection, business process outsourcing, and contingent collection services, as well as debt servicing and other portfolio management services to credit originator for non-performing loans. The company was incorporated in 1999 and is headquartered in San Diego, California.
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- Like an Ollie's Bargain Outlet, but instead of physical goods, they buy portfolios of defaulted consumer debt at deep discounts and then work to recover value.
- Imagine a Capital One or other major credit card issuer, but instead of issuing new credit, Encore Capital specializes in buying and recovering value from the loans that have already gone bad and been written off by those original lenders.
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- Debt Portfolio Purchase & Management: Acquires portfolios of defaulted consumer receivables at a discount and manages the recovery process from individuals.
- Collection Services: Provides various collection services including early-stage and contingent collections for clients.
- Business Process Outsourcing (BPO) for Collections: Offers outsourced services related to debt collection and portfolio management to credit originators.
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Encore Capital (ECPG) primarily serves individuals who owe defaulted consumer debt. While the company also provides services to credit originators, its core business and the significant portion of its revenue generation involve working directly with consumers to repay obligations on portfolios of defaulted debt that Encore Capital has purchased.
The categories of customers (individuals) that Encore Capital serves include:
- Consumers with defaulted credit card debt: These are individuals who have outstanding, unpaid balances on credit card accounts.
- Consumers with defaulted personal loans, auto loans, and other consumer finance products: This category includes individuals who have failed to make payments on various types of personal financing.
- Consumers with defaulted telecommunications, utility, and other similar service-related debts: These are individuals with overdue bills from service providers such as phone companies, internet providers, or utility companies.
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Ashish Masih President and Chief Executive OfficerAshish Masih joined Encore Capital Group in 2009 and was appointed President and CEO in June 2017. He previously served as President of Midland Credit Management (MCM), Encore's largest business unit, and held other roles in operations and corporate development at Encore. Prior to joining Encore, Mr. Masih was Vice President at Capital One Financial Corp., where he held senior roles in its U.S. credit card business. Before Capital One, he worked at McKinsey & Company and KPMG Consulting. Mr. Masih also oversaw Encore's Asset Reconstruction Company in India, a joint venture with the International Finance Corporation (IFC) and a private equity firm. Tomas C. Hernanz Executive Vice President, Chief Financial Officer and Treasurer
Tomas C. Hernanz was appointed Executive Vice President, Chief Financial Officer, and Treasurer of Encore Capital Group, effective April 1, 2025. Before this role, he served as CFO of Cabot Credit Management, Encore's European business unit, since October 2022. Mr. Hernanz has held various senior strategy and financial roles with Encore since joining the organization in 2016. Prior to his time at Encore, he was a partner at Ondra Partners, a financial advisory firm, and held positions at Goldman Sachs and Citigroup. Ryan Bell President, Midland Credit Management
Ryan Bell has been the President of Midland Credit Management (MCM), Encore's U.S. debt purchasing line of business, since January 2020. He joined Encore in 2011 as a Vice President. Before joining Encore, Mr. Bell spent 11 years in marketing and analysis at Capital One Financial Corp., primarily in the auto finance line of business, where his experience included marketing strategy, credit policy, new product development, business development, and operations strategy. He previously led Encore's decision science group, responsible for asset valuation, predictive model development, and financial forecasting, and as Senior Vice President of Operations, he led Encore's internal legal, legal outsourcing, and bankruptcy operations. John Yung President, International and Cabot Credit Management
John Yung serves as President, International and Cabot Credit Management for Encore Capital Group. He is responsible for Encore's international operations and the Cabot Credit Management subsidiary. Andrew Asch Senior Vice President, General Counsel & Government Affairs
Andrew Asch is the Senior Vice President, General Counsel & Government Affairs at Encore Capital Group. He is responsible for the company's legal, government affairs, and corporate secretary functions.
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Here are the key risks to Encore Capital Group (ECPG) in order from most significant to least significant:
- High Debt Levels and Sensitivity to Interest Rates: Encore Capital Group carries significant indebtedness, with total long-term outstanding debt reported to be approximately $3.7 billion to $3.97 billion. Portions of this debt bear variable interest rates. Consequently, increases in interest rates directly lead to higher interest expenses, which can adversely affect the company's financial results and operating income. Furthermore, elevated interest rates increase the cost of capital for acquiring new portfolios of defaulted consumer receivables, thereby compressing the expected returns on these investments and impacting profitability.
- Macroeconomic Conditions and Consumer Repayment Ability: The profitability of Encore Capital Group's business is highly dependent on overall financial and economic conditions. Adverse economic factors, such as high unemployment, significant inflation, reduced credit availability, or general financial disruptions, can place considerable financial pressure on consumers. This directly reduces consumers' ability to repay their obligations, which, in turn, negatively impacts the company's collections, the value of its consumer receivable portfolios, and its cash flow.
- Legal and Regulatory Challenges: The debt recovery industry is subject to extensive and evolving legal and regulatory oversight. Changes in regulations or new rules from consumer protection bodies, such as the Consumer Financial Protection Bureau (CFPB), can restrict collection methods, increase operational costs, and reduce the value of certain types of debt. Non-compliance with these complex laws can expose Encore Capital Group to significant legal liabilities, including lawsuits, regulatory penalties, and reputational damage. Additionally, managing large volumes of sensitive consumer data exposes the company to cybersecurity risks, where breaches could lead to legal and financial repercussions.
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Encore Capital Group, Inc. (ECPG) operates within several key addressable markets related to debt recovery and portfolio management.
Debt Recovery Solutions (Purchasing Defaulted Consumer Receivables, Early Stage Collection, Contingent Collection Services)
- Globally, the Debt Collection Services market is estimated at approximately USD 30.52 billion in 2025, with projections indicating growth to USD 38.67 billion by 2033. Other estimates for the global debt collection agencies market also show it growing from USD 30.19 billion in 2025 to USD 31.2 billion in 2026. Another report projects the global debt collection agencies market size to reach around USD 41.7 billion by 2033, up from USD 31.3 billion in 2023.
- In the U.S., the Debt Collection Agencies market size is valued at $13.6 billion in 2025. North America, largely driven by the U.S., accounted for approximately USD 12.5 billion in revenue in 2023 within the debt collection agencies market.
- Specifically, the global Debt Purchase Service market, which involves acquiring portfolios of defaulted debt, is projected to reach $8.35 billion by 2025.
Debt Servicing and Other Portfolio Management Services for Non-Performing Loans (NPLs)
- The global Non-Performing Loan (NPL) Management market was sized at USD 109.45 billion in 2024. This market is projected for significant growth, expected to increase to approximately USD 2.17 trillion by 2031, at a compound annual growth rate (CAGR) of 53.20% from 2024 to 2031.
- In North America, the NPL Management market held a significant share, with a market size of USD 43.78 billion in 2024.
Business Process Outsourcing (BPO)
Encore Capital's early stage collection and contingent collection services, as well as some debt servicing, fall within the broader Business Process Outsourcing market.
- The global Business Process Outsourcing market was valued at USD 347.95 billion in 2025 and is anticipated to reach approximately USD 906.27 billion by 2035. Another estimate places the global market at USD 328.37 billion in 2025, projected to reach USD 695.77 billion by 2033.
- The U.S. Business Process Outsourcing market is substantial, with North America (dominated by the U.S.) holding 37.4% of the global market revenue share in 2025. U.S. companies are projected to spend approximately $50 billion on outsourcing services in the next 12 months.
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Expected Drivers of Future Revenue Growth for Encore Capital (ECPG)
- Sustained Favorable U.S. Purchasing Environment and Strategic Capital Allocation: Encore Capital anticipates continued strong revenue growth driven by a highly favorable purchasing environment in the U.S. market. This is characterized by elevated supply of non-performing loans and advantageous credit conditions, which are fueling the expansion of Encore's debt portfolios. The company has strategically increased its capital allocation to the U.S., with 80% of its global portfolio purchases in Q1 2024 concentrated in this market due to higher return opportunities. Management expects global portfolio purchases to be between $1.4 billion and $1.5 billion in 2026.
- Operational Innovation and Enhanced Digital Capabilities: The deployment of new technologies, enhanced digital capabilities, and continuous operational innovation are key drivers for improved collections performance. These advancements enable Encore to reach more consumers and facilitate increased payments, particularly impacting the early stages of the portfolio life cycle and leading to overperformance of recent vintages.
- Growth in Global Collections and Stable Consumer Payment Behavior: Encore Capital projects an increase in global collections, with an expectation to reach $2.7 billion in 2026, representing a 5% increase. This growth is supported by strong portfolio purchases in recent quarters, focused execution, operational improvements, and a stable consumer payment environment in its key markets, returning to pre-pandemic normalcy.
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Share Repurchases
- Encore Capital Group repurchased approximately $89.5 million of its shares outstanding in 2025, representing about 9% of total shares.
- In Q3 2025, the company repurchased $10 million of shares, with an additional $25 million in Q4 2025 (as of November 5, 2025), totaling approximately $60 million year-to-date.
- The board authorized an additional $300 million under the share repurchase program in Q3 2025.
Outbound Investments
- Global portfolio purchases, which are investments in defaulted consumer receivables, increased 4% to $1.41 billion in 2025, including $1.17 billion allocated to the U.S.
- The company anticipates global portfolio purchases for 2026 to be in the range of $1.4 billion to $1.5 billion.
- In Q3 2025, global portfolio purchases were $346 million, with 75% of deployed capital directed towards the U.S. market.
Capital Expenditures
- Encore Capital Group's capital expenditures were -$26.27 million in 2025.
- Capital expenditures were -$29.01 million in 2024 and -$24.81 million in 2023.
- The company has focused on the deployment of new technologies and enhanced digital capabilities to improve collections performance, implying capital allocation to these areas.
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| 12312022 | ECPG | Encore Capital | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 1.4% | 5.9% | -21.9% |
| 06302022 | ECPG | Encore Capital | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -17.6% | -15.8% | -25.4% |
| 04302021 | ECPG | Encore Capital | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 37.3% | 46.9% | 0.0% |
| 07312020 | ECPG | Encore Capital | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -18.7% | 29.6% | -18.7% |
| 01312020 | ECPG | Encore Capital | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 7.6% | -12.5% | -50.4% |
| 07312019 | ECPG | Encore Capital | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -2.6% | -0.8% | -53.2% |
| 12312017 | ECPG | Encore Capital | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -13.1% | -44.2% | -48.6% |
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 76.02 |
| Mkt Cap | 23.3 |
| Rev LTM | 9,466 |
| Op Inc LTM | 681 |
| FCF LTM | 5,310 |
| FCF 3Y Avg | 5,044 |
| CFO LTM | 5,422 |
| CFO 3Y Avg | 5,135 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 21.3% |
| Rev Chg 3Y Avg | 14.4% |
| Rev Chg Q | 18.9% |
| QoQ Delta Rev Chg LTM | 4.2% |
| Op Inc Chg LTM | 111.4% |
| Op Inc Chg 3Y Avg | 163.7% |
| Op Mgn LTM | 21.9% |
| Op Mgn 3Y Avg | 13.8% |
| QoQ Delta Op Mgn LTM | 1.4% |
| CFO/Rev LTM | 24.5% |
| CFO/Rev 3Y Avg | 25.8% |
| FCF/Rev LTM | 19.6% |
| FCF/Rev 3Y Avg | 21.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 23.3 |
| P/S | 1.8 |
| P/Op Inc | 2.6 |
| P/EBIT | 2.6 |
| P/E | 12.9 |
| P/CFO | 6.6 |
| Total Yield | 4.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 10.5% |
| D/E | 0.6 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.8% |
| 3M Rtn | 21.5% |
| 6M Rtn | -3.2% |
| 12M Rtn | 19.6% |
| 3Y Rtn | 98.5% |
| 1M Excs Rtn | -9.5% |
| 3M Excs Rtn | 12.2% |
| 6M Excs Rtn | -15.8% |
| 12M Excs Rtn | -9.0% |
| 3Y Excs Rtn | 30.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debt purchasing and recovery segment | 1,316 | 1,223 | |||
| Corporate and other unallocated | 0 | 0 | |||
| Changes in recoveries | 93 | 199 | |||
| Other revenues | 8 | 7 | 4 | ||
| Revenue from receivable portfolios | 1,202 | 1,288 | 1,375 | ||
| Servicing revenue | 95 | 121 | 115 | ||
| Changes in expected current and future recoveries | 7 | ||||
| Total | 1,316 | 1,223 | 1,398 | 1,614 | 1,501 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debt purchasing and recovery segment | 215 | 75 | |||
| Operating expenses | -58 | ||||
| Total | 157 | 75 |
Price Behavior
Price Behavior
| Market Price | $80.20 | |
| Market Cap ($ Bil) | 1.8 | |
| First Trading Date | 07/09/1999 | |
| Distance from 52W High | -5.0% | |
| 50 Days | 200 Days | |
| DMA Price | $77.35 | $57.12 |
| DMA Trend | up | up |
| Distance from DMA | 3.7% | 40.4% |
| 3M | 1YR | |
| Volatility | 33.8% | 34.7% |
| Downside Capture | -2.40 | 35.11 |
| Upside Capture | 126.79 | 111.78 |
| Correlation (SPY) | 29.1% | 34.3% |
ECPG Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.74 | 0.77 | 0.67 | 0.75 | 1.07 | 1.28 |
| Up Beta | 0.46 | 0.19 | 0.35 | 0.80 | 1.28 | 1.47 |
| Down Beta | 0.20 | 0.81 | 1.12 | 0.88 | 1.17 | 1.29 |
| Up Capture | 149% | 157% | 171% | 176% | 159% | 136% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 16 | 24 | 37 | 72 | 132 | 375 |
| Down Capture | -64% | 46% | -36% | -15% | 55% | 104% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 6 | 19 | 27 | 51 | 116 | 371 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECPG | |
|---|---|---|---|---|
| ECPG | 113.4% | 34.6% | 2.25 | - |
| Sector ETF (XLF) | 4.9% | 14.5% | 0.11 | 36.3% |
| Equity (SPY) | 29.5% | 12.0% | 1.86 | 33.4% |
| Gold (GLD) | 35.5% | 26.8% | 1.11 | -1.4% |
| Commodities (DBC) | 42.9% | 18.7% | 1.77 | -3.7% |
| Real Estate (VNQ) | 15.2% | 13.1% | 0.82 | 29.3% |
| Bitcoin (BTCUSD) | -31.3% | 41.8% | -0.78 | 19.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECPG | |
|---|---|---|---|---|
| ECPG | 13.8% | 37.8% | 0.44 | - |
| Sector ETF (XLF) | 8.4% | 18.6% | 0.33 | 38.9% |
| Equity (SPY) | 14.0% | 17.0% | 0.64 | 37.6% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 1.8% |
| Commodities (DBC) | 10.4% | 19.4% | 0.42 | 7.2% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 35.1% |
| Bitcoin (BTCUSD) | 11.6% | 55.3% | 0.41 | 15.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECPG | |
|---|---|---|---|---|
| ECPG | 12.1% | 48.5% | 0.42 | - |
| Sector ETF (XLF) | 12.9% | 22.1% | 0.53 | 42.7% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 36.7% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 1.8% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 12.8% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 33.2% |
| Bitcoin (BTCUSD) | 66.7% | 66.9% | 1.06 | 8.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -2.4% | -6.2% | |
| 2/25/2026 | 8.1% | 24.6% | 19.5% |
| 11/5/2025 | 10.5% | 13.5% | 25.8% |
| 8/6/2025 | 5.4% | 11.4% | 18.8% |
| 5/7/2025 | 23.8% | 24.3% | 16.7% |
| 2/26/2025 | -21.9% | -30.9% | -28.3% |
| 11/6/2024 | 0.1% | -1.7% | -1.1% |
| 8/7/2024 | 11.4% | 7.3% | 5.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 15 |
| # Negative | 11 | 12 | 9 |
| Median Positive | 8.6% | 11.4% | 16.7% |
| Median Negative | -6.2% | -6.2% | -11.1% |
| Max Positive | 23.8% | 24.6% | 25.8% |
| Max Negative | -21.9% | -30.9% | -28.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Collections | 2.80 Bil | 3.7% | Raised | Guidance: 2.70 Bil for 2026 | |||
| 2026 Collections Growth | 8.0% | 60.0% | 3.0% | Raised | Guidance: 5.0% for 2026 | ||
| 2026 EPS | 13 | 8.3% | Raised | Guidance: 12 for 2026 | |||
| 2026 EPS Growth | 19.0% | 90.0% | 9.0% | Raised | Guidance: 10.0% for 2026 | ||
| 2026 Portfolio Purchases | 1.40 Bil | 1.45 Bil | 1.50 Bil | 0.0% | Affirmed | Guidance: 1.45 Bil for 2026 | |
Prior: Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Global Portfolio Purchases | 1.40 Bil | 1.45 Bil | 1.50 Bil | 7.4% | Higher New | Actual: 1.35 Bil for 2025 | |
| 2026 Global Collections | 2.70 Bil | 5.9% | Higher New | Actual: 2.55 Bil for 2025 | |||
| 2026 EPS | 12 | ||||||
| 2026 EPS Growth | 10.0% | ||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bell, Ryan B | President, MCM | Direct | Sell | 3042026 | 68.62 | 260 | 17,841 | 3,287,584 | Form |
| 2 | Bell, Ryan B | President, MCM | Direct | Sell | 3042026 | 69.04 | 7,240 | 499,844 | 3,325,619 | Form |
| 3 | Bell, Ryan B | President, MCM | Direct | Sell | 12112025 | 55.00 | 2,500 | 137,500 | 3,047,550 | Form |
| 4 | Olle, Laura | Direct | Sell | 12042025 | 52.79 | 1,423 | 75,120 | 1,848,917 | Form | |
| 5 | Yung, John | President, Intl. and Cabot | Direct | Sell | 11262025 | 52.00 | 1,000 | 52,000 | 2,943,668 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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