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Purchases and collects on portfolios of defaulted consumer debt in the US and internationally.
Purchases and collects on portfolios of defaulted consumer debt in the US and internationally.
Pays banks and card issuers a fraction of the amount owed for accounts they have given up collecting, then collects over several years, so returns depend on the price paid and how much it recovers. Midland Credit Management carries the US business, and Cabot Credit Management the UK and Europe.
Moat: narrow (scale, data, process know-how). Scale in pricing and collecting distressed debt portfolios, backed by proprietary analytics on recovery rates.
Headquarters: San Diego, California, US · Founded: 1999 · Employees: 7,350
Size Encore Capital (ECPG) is a United States Financials company (Finance/Rental/Leasing) with a market value of $2.42B, the 1678th largest of 3,117 United States companies the cockpit tracks. Shares closed at $114.14 on 6 Nov 2026.
Performance Over six months the shares gained 36.1%, against -6.4% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 28.8% over the last twelve months (peer median +16.1%); the operating margin is 37.8% (peer median 29.2%).
Valuation It trades at 2.24× book value against a peer median of 1.75× (7th most expensive of 21).
Price implies The share price implies a return on equity of about 21.7%; Encore Capital delivers 30.5%, so the price asks less than the business earns today.
Credit Encore Capital has 8 bonds outstanding ($3.78B), rated BB+ by the agencies and trading like BB+ at a weighted spread of 186 bp.
Short interest Short interest is 4.4% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.89B | $1.76B | $1.30B | $1.22B | $1.37B |
| Revenue growth | — | +35% | +7% | -11% | — |
| Gross profit | $1.34B | $1.24B | $852M | $809M | $952M |
| EBITDA | $744M | $652M | $308M | $322M | $483M |
| Net income | $302M | $257M | -$139M | -$206M | $195M |
| Free cash flow | $125M | $127M | $127M | $128M | $134M |
| Capital expenditure | $26.2M | $26.3M | $29.0M | $24.8M | $76.6M |
| Total debt | $4.18B | $4.07B | $3.74B | $3.40B | $2.98B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Encore Capital ECPG | $2.42B | +36% | +29% | 31% | 2.24× | 21.7% |
| PRA PRAA | $486M | -33% | +12% | -22% | 0.47× | 6.6% |
| Jefferson Capital JCAP | $1.14B | -1% | +73% | 33% | 2.39× | 11.0% |
| Credit CCP.AX | $738M | +37% | +7% | 12% | 1.16× | 16.0% |
| Intrum INTRUM.ST | $645M | -53% | -4% | -24% | 0.33× | 3.9% |
| Hoist Finance HOFI.ST | $1.79B | +29% | +16% | 23% | 2.57× | 17.9% |
| Axactor ACR.OL | $370M | -20% | -146% | -92% | 1.14× | 9.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ECPG | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.1% | -2.5% | 2nd highest of 21 |
| 6-month return | +36.1% | -6.4% | highest of 21 |
| Return on equity | 30.5% | 13.1% | highest of 21 |
| Price / book | 2.24× | 1.75× | 7th most expensive of 21 |
| Trailing P/E | 8.6× | 13.0× | 5th cheapest of 21 |
| ROE the price implies | 21.7% | 16.7% | 8th most demanding of 21 |
| ROE delivered | 30.5% | 12.9% | highest of 18 |
| Bond spread | 186 bp | 244 bp | tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Encore Capital ECPG | United States | $2.42B | +36% | +29% | 31% | 2.24× | 21.7% | 30.5% |
| UWM UWMC | United States | $2.44B | -56% | +16% | 2% | 2.67× | 32.8% | 2.1% |
| Capri Global Capital CGCL.NS | India | $2.44B | +20% | +53% | 18% | 2.90× | 21.5% | 17.9% |
| Mizuho Leasing 8425.T | Japan | $2.45B | -13% | +16% | 13% | 0.77× | 6.0% | 13.3% |
| Fuyo General Lease 8424.T | Japan | $2.34B | -6% | +19% | 5% | 0.72× | 4.8% | 4.5% |
| China Development Bank Financial Leasing 1606.HK | Hong Kong | $2.66B | +4% | -5% | 13% | 0.40× | 4.5% | 12.6% |
| Upstart UPST | United States | $2.17B | -24% | +39% | 8% | 2.44× | 37.8% | 8.0% |
| Custom Truck One Source CTOS | United States | $2.12B | -4% | +6% | 4% | 2.58× | 26.7% | 3.7% |
| IIFL Finance IIFL.NS | India | $2.83B | +35% | +36% | 18% | 1.73× | 23.7% | 17.6% |
| Cholamandalam Financial CHOLAHLDNG.NS | India | $2.89B | -17% | +18% | 17% | 1.77× | 26.2% | n/a |
| Aadhar Housing Finance AADHARHFC.NS | India | $1.99B | -14% | +18% | 16% | 2.48× | 31.1% | n/a |
| AEON Financial Service 8570.T | Japan | $1.95B | -9% | +8% | 5% | 0.67× | 5.2% | 4.9% |
| PNB Housing Finance PNBHOUSING.NS | India | $3.03B | +5% | +11% | 12% | 1.42× | 19.4% | 12.3% |
| McGrath RentCorp MGRC | United States | $3.05B | +9% | +2% | 13% | 2.38× | 13.2% | 12.9% |
| Hercules Capital HTGC | United States | $3.06B | 0% | +40% | 16% | 1.32× | 10.4% | 15.7% |
| Federal Agricultural Mortgage AGM | United States | $1.90B | 0% | +31% | 13% | 1.56× | 14.0% | 13.5% |
| Marui 8252.T | Japan | $3.09B | -7% | +8% | 12% | 2.12× | 7.1% | 12.4% |
| SLM SLM | United States | $3.10B | -25% | -6% | 25% | 1.55× | 13.8% | 24.7% |
| LIC Housing Finance LICHSGFIN.NS | India | $3.12B | -9% | -1% | 14% | 0.67× | 11.6% | 14.3% |
| CreditAccess Grameen CREDITACC.NS | India | $1.84B | -27% | +17% | 20% | 1.95× | 20.5% | 19.7% |
| Manappuram Finance MANAPPURAM.NS | India | $3.23B | +3% | +5% | 7% | 1.90× | 33.0% | n/a |
Encore Capital has 8 bonds outstanding with $3.78B face value. The agencies rate it BB+; its bonds trade like BB+. Weighted yield 6.48%, a spread of 186 bp over government bonds.