Filing Flows › Encore Capital Group (ECPG) › Q4 2025
Encore Capital Group (ECPG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Encore Capital Group (ECPG) reported revenue of $474M for the fourth quarter 2025 (Q4 2025), +78% from a year earlier and +3% from the quarter before. Operating margin was 36.6%, net earnings $76.7M (16.2% of revenue).
Encore Capital Group, Q4 2025: revenue $474M (+78% year over year), operating margin 36.6%, net earnings $76.7M, operating cash flow $16.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $474M | +3% | +78% |
| Operating profit | $173M | +0.1% | — |
| Net earnings | $76.7M | +3% | — |
| Operating cash flow | $16.8M | -79% | -29% |
| Free cash flow | $9.9M | -87% | -34% |
What changed
Revenue was $473.6M in Q4 2025, up 78% year over year and up 3% from the previous quarter.
Operating profit was $173.4M, a 36.6% margin (up 87.1 points year over year). Total costs fell 25% while revenue rose 78%. Net earnings were $76.7M. The effective tax rate was 21.6%.
Operating cash flow was $16.8M (down 29% year over year), 22% of net earnings. Non-cash charges added back $6.9M of depreciation and amortization and $5.2M of share-based compensation. Working capital and other items used $72.0M. Capital expenditures of $6.9M left free cash flow of $9.9M.
Questions
What was Encore Capital Group's revenue in the fourth quarter 2025?
Encore Capital Group (ECPG) reported revenue of $474M for the fourth quarter 2025 (Q4 2025), +78% from a year earlier and +3% from the quarter before.
Was Encore Capital Group profitable in the fourth quarter 2025?
Operating profit was $173M (36.6% of revenue) and net earnings $76.7M.