ECPG on Nasdaq

Encore Capital Group

American financial-services company

Encore Capital Group, Inc. is a publicly traded debt buyer based in the United States. The company is headquartered in San Diego, and operates throughout the United States. The firm is a publicly traded NASDAQ Global Select company (ECPG), a component stock of the Russell 2000, the S&P SmallCap 600, and the Wilshire 4500.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1953Founded1

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  • TickerECPG on Nasdaq1
  • Industryfinancial services1
  • HeadquartersSan Diego1
  • Websitewww.encorecapital.com
  • Legal formDelaware corporation1
  • Incorporated inDE5
  • Business address350 Camino De La Reina, Suite 100, San Diego, Ca 921085
  • Filer categoryLarge accelerated filer5
  • LEI5493000UVC6H49CIH8304
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O Corporation Service Company, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 30340024

Encore Capital Group, Inc. is a publicly traded debt buyer based in the United States. The company is headquartered in San Diego, and operates throughout the United States. The firm is a publicly traded NASDAQ Global Select company (ECPG), a component stock of the Russell 2000, the S&P SmallCap 600, and the Wilshire 4500.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

709.0%Operating margin11
290.6%Net margin11
4.3%Revenue growth, 202511
26.3%Return on equity11
$126.9MFree cash flow11

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Income tax24¢$79.3M
  • Profit76¢$256.8M

Out of $88.4M in revenue.11

Where each dollar of operating cash went, fiscal 2025

  • Capital spending17¢$26.3M
  • Share buybacks59¢$90.4M
  • Kept or used elsewhere24¢$36.5M

Out of $153.2M of cash from operations.11

Financial statements

Revenue1213141511$88.4M in 2025−30% since 2019
0$50.0M$100.0M$150.0M2019: $126.5M$126.5M20192020: $115.1M$115.1M2020−9%2021: $120.8M$120.8M2021+5%2022: $94.9M$94.9M2022−21%2023: $83.1M$83.1M2023−12%2024: $84.8M$84.8M2024+2%2025: $88.4M$88.4M2025+4%
Operating income1213141511$626.6M in 2025+40% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $446.3M$446.3M20192020: $533.6M$533.6M2020+20%2021: $633.3M$633.3M2021+19%2022: $462.2M$462.2M2022−27%2023: $16.5M$16.5M2023−96%2024: $157.3M$157.3M2024+851%2025: $626.6M$626.6M2025+298%
Net income1213141511$256.8M in 2025+53% since 2019
-$400.0M-$200.0M0$200.0M$400.0M2019: $167.9M$167.9M20192020: $211.8M$211.8M2020+26%2021: $350.8M$350.8M2021+66%2022: $194.6M$194.6M2022−45%2023: -$206.5M-$206.5M20232024: -$139.2M-$139.2M2024−33%2025: $256.8M$256.8M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.11

Period ending2025-12-312024-12-312023-12-31
Portfolio revenue$1.5B$1.3B$1.2B
Changes in recoveries$208.8M-$89.7M-$82.5M
Total debt purchasing revenue$1.7B$1.2B$1.1B
Servicing revenue$88.4M$84.8M$83.1M
Other revenues$15.8M$18.8M$17.6M
Total revenues$1.8B$1.3B$1.2B
Salaries and employee benefits$458.2M$422.9M$391.5M
Cost of legal collections$315.5M$259.3M$224.3M
General and administrative expenses$165.9M$163.8M$144.9M
Other operating expenses$144.5M$130.8M$111.2M
Collection agency commissions$29.3M$30.6M$35.7M
Depreciation and amortization$28.8M$32.4M$41.7M
Goodwill impairment$0$100.6M$238.2M
Impairment of assets$0$18.5M$18.7M
Total operating expenses$1.1B$1.2B$1.2B
Income from operations$626.6M$157.3M$16.5M
Interest expense-$293.9M-$252.5M-$201.9M
Loss on extinguishment of debt-$1.6M-$7.8M$0
Other income$5.0M$6.8M$5.1M
Total other expense-$290.5M-$253.5M-$196.8M
Income (loss) before income taxes$336.2M-$96.2M-$180.3M
Provision for income taxes-$79.3M-$43.0M-$26.2M
Net income (loss)$256.8M-$139.2M-$206.5M
Basic (USD per share)$11.05-$5.83-$8.72
Diluted (USD per share)$10.91-$5.83-$8.72
Basic (shares)23.2M shares23.9M shares23.7M shares
Diluted (shares)23.5M shares23.9M shares23.7M shares

Compare Encore Capital Group with another company

Corporate structure

Encore Capital Group sits at the top of its group. 39 entities, 10 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Encore Capital Group

  • Encore Capital Group San Diego, California, United States
    • CABOT CREDIT MANAGEMENT PLC West Malling, United Kingdom
    • CABOT FINANCIAL (UK) LIMITED West Malling, United Kingdom
    • CABOT SECURITISATION UK LIMITED West Malling, United Kingdom
    • ENCORE ASSET RECONSTRUCTION COMPANY PRIVATE LIMITED Gurugram, India
    • MIDLAND CREDIT MANAGEMENT INDIA PRIVATE LIMITED San Diego, California, United States
    • MIDLAND CREDIT MANAGEMENT, INC. San Diego, California, United States
    • Asset Acceptance Capital LLC Subsidiary · Delaware, United States
    • Asset Acceptance, LLC Subsidiary · Delaware, United States
    • Atlantic Credit & Finance, Inc. Subsidiary · Virginia, United States
    • Cabot Credit Management Group Limited Subsidiary · United Kingdom
    • Cabot Financial (Europe) Limited Subsidiary · United Kingdom
    • Cabot Financial (Ireland) Limited Subsidiary · Ireland
    • Cabot Financial Debt Recovery Services Limited Subsidiary · United Kingdom
    • Cabot Financial France S.A.S. Subsidiary · France
    • Cabot Financial Holdings Group Limited Subsidiary · United Kingdom
    • Cabot Financial Limited Subsidiary · United Kingdom
    • Cabot Financial Spain SAU Subsidiary · Spain
    • Cabot Securitisation Europe Limited Subsidiary · Ireland
    • Cabot Securitisation Topco Limited Subsidiary · United Kingdom
    • Cabot Securitisation UK Holdings Limited Subsidiary · United Kingdom
    • Cabot UK Holdco Limited Subsidiary · United Kingdom
    • Dessetec Desarrollo de Sistemas, S.A. de C.V. Subsidiary · Mexico
    • ENCORE CAPITAL GROUP SINGAPORE PTE. LTD. Subsidiary · Singapore, Singapore
    • Encore Capital Group UK Limited Subsidiary · United Kingdom
    • Encore Europe Holdings S.à r.l. Subsidiary · Luxembourg
    • and 13 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Encore Capital Group reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$285.0M11 Dec 31, 2025$264.7M11 Dec 31, 2024+7.7%
Property and equipment, net$82.1M11 Dec 31, 2025$80.6M11 Dec 31, 2024+1.8%
Finance-lease assets$572.0K11 Dec 31, 2025$1.0M11 Dec 31, 2024−44.1%
Operating-lease assets (leased space)$56.6M11 Dec 31, 2025$58.1M11 Dec 31, 2024−2.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$156.8M11 Dec 31, 2025$199.9M11 Dec 31, 2024−21.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$536.3M11 Dec 31, 2025$507.8M11 Dec 31, 2024+5.6%
Intangible assets, net (excluding goodwill)$015 Dec 31, 2024$45.0M18 Dec 31, 2020−100.0%

Properties, in its own words

We lease office space for our corporate headquarters in San Diego, California. We also lease office space for our call centers, internal legal and consumer support services in the United States, Costa Rica, India, the United Kingdom and other European countries. We believe that our current leased facilities are generally well maintained and in good operating condition. We believe that these facilities are suitable and sufficient for our operational needs. Our policy is to improve, replace, and supplement the facilities as considered appropriate to meet the needs of our operations.

Item 2 of the 10-K filed Feb 25, 2026.19

The story

Encore Capital Group's subsidiary company, Midland Credit Management, Inc., through which it purchases all of its debt, was founded in 1953 and was incorporated in Kansas in September 1953. In 1998, an investor group led by Nelson Peltz and Peter May and Kerry Packer of Consolidated Press International Holdings Limited, acquired a majority interest in its operations.

The group formed a holding company, which it incorporated in Delaware in April 1999 as MCM Capital Group, Inc., later renamed Encore Capital Group, Inc. in April 2002. The company completed its initial public offering of 2,250,000 shares of common stock in July 1999. Encore Capital is the largest publicly traded United States debt buyer by revenue.

Ashish Masih is Encore Capital's president and chief executive officer. Masih joined Encore Capital in 2009.

In June, 2013, Encore acquired Asset Acceptance Corporation, a debt buyer based in Warren, Michigan. In 2014, Encore Capital acquired Virginia-based Atlantic Credit & Finance.

In January 2015, New York State Attorney General Eric Schneiderman sued Encore Capital over unethical practices and forced Encore Capital to pay a $675,000 penalty and vacate more than 4,500 court judgments against borrowers.

In September 2015, both Encore and Portfolio Recovery Associates, the United States’ two largest publicly held debt buyers, were charged with violating the Fair Debt Collection Practices Act and the Dodd–Frank Wall Street Reform and Consumer Protection Act by filing "lawsuits against consumers without having the intent to prove many of the debts, winning the vast majority of the lawsuits by default when consumers failed to defend themselves."

The Consumer Financial Protection Bureau imposed an enforcement action on Encore Capital for pressuring borrowers "to pay with false statements, with lawsuits and with the use of using so-called robo-signed court documents." According to The New York Times, Encore paid "$42 million in consumer refunds and a $10 million penalty" and an injunction to "stop collections on debts totaling more than $125 million."

On June 6, 2017, Encore Capital announced the launch of its financial literacy program, Money Matters, which sends employee volunteers to teach high school and college students financial literacy.

Read the full text

In 2018, Encore fully acquired British debt buyer Cabot Financial.

In September 2020, the Consumer Financial Protection Bureau filed a lawsuit against Encore Capital and its subsidiary Cabot Financial. In October 2020, Encore Capital agreed to pay an addition $78,308.81 in consumer redress as well as an additional $15 million in civil money penalty as directed by the CFPB. Encore is subject to five years of monitoring, ending the consent order and resolving further litigation.

From Wikipedia’s article on Encore Capital Group, shared under CC BY-SA 4.0.6

Leadership

Who has led Encore Capital Group, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (36)

Subsidiaries and ownership

Subsidiaries

Subsidiaries (GLEIF)

Also consolidated

Subsidiaries (Exhibit 21)

  • Asset Acceptance Capital LLC Delaware7
  • Asset Acceptance, LLC Delaware7
  • Atlantic Credit & Finance, Inc. Virginia7
  • Cabot Credit Management Group Limited United Kingdom7
  • Cabot Credit Management Limited United Kingdom7
  • Cabot Financial (Europe) Limited United Kingdom7
  • Cabot Financial (Ireland) Limited Ireland7
  • Cabot Financial (UK) Limited United Kingdom7
  • Cabot Financial Debt Recovery Services Limited United Kingdom7
  • Cabot Financial France S.A.S. France7
  • Cabot Financial Holdings Group Limited United Kingdom7
  • Cabot Financial Limited United Kingdom7
  • Cabot Financial Spain SAU Spain7
  • Cabot Securitisation Europe Limited Ireland7
  • Cabot Securitisation Topco Limited United Kingdom7
  • Cabot Securitisation UK Holdings Limited United Kingdom7
  • Cabot Securitisation UK Limited United Kingdom7
  • Cabot UK Holdco Limited United Kingdom7
  • Dessetec Desarrollo de Sistemas, S.A. de C.V. Mexico7
  • Encore Capital Group UK Limited United Kingdom7
  • Encore Europe Holdings S.à r.l. Luxembourg7
  • Encore Holdings Luxembourg S.à r.l. Luxembourg7
  • Encoremex Holdings S. de R.L. de C.V. Mexico7
  • MCM Midland Management Costa Rica, S.R.L. Costa Rica7
All 36 listed subsidiaries
  • Midland Credit Management India Private Limited India7
  • Midland Credit Management, Inc. Kansas7
  • Midland Funding LLC Delaware7
  • Midland India LLC Minnesota7
  • Midland International LLC Delaware7
  • Midland Portfolio Services LLC Delaware7
  • Mortimer Clarke Solicitors Limited United Kingdom7
  • PPO RC Holdco LLC Delaware7
  • PPO RC SPV LLC Delaware7
  • Wescot Acquisitions Limited United Kingdom7
  • Wescot Credit Services Limited United Kingdom7
  • Wescot Topco Limited United Kingdom7

From Wikidata.1 Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • MCM CAPITAL GROUP INCJul 8, 1999 to Mar 11, 20025

Timeline

  1. Aug 19, 20268-K Executive or director change67
  2. Aug 5, 20268-K Results of operations68
  3. Jul 22, 20268-K Regulation FD disclosure; Other events69
  4. Jun 16, 20268-K Executive or director change; Bylaws or fiscal year changed; Shareholder vote70
  5. May 29, 20268-K Entered a material agreement; New debt or obligation71
  6. May 26, 20268-K Entered a material agreement; New debt or obligation72
  7. May 14, 20268-K Other events73
  8. May 12, 20268-K Other events74
  9. May 6, 20268-K Results of operations75
  10. Mar 20, 20268-K Executive or director change; Bylaws or fiscal year changed76
  11. Feb 25, 20268-K Results of operations77
  12. Nov 5, 20258-K Results of operations78
  13. Jan 9, 2020New chief executive Craig A. Buick becomes CEO20
  14. Aug 30, 2018New chief executive Kenneth J. Stannard becomes CEO21
  15. Jun 26, 2017New chief executive Ashish Masih becomes CEO22
  16. Mar 28, 2007New chief executive J. Brandon Black becomes CEO23
  17. Apr 9, 2002Went public Listed on NASDAQ1
  18. 1953Founded Founded1

Calendar

Coming up

  1. Nov 4, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $3.17 a share, on Nov 5, 2025.79

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results68
  2. May 6, 2026Reported quarterly or annual results75
  3. Feb 25, 2026Reported quarterly or annual results77
  4. Nov 5, 2025Reported quarterly or annual results78
  5. Aug 6, 2025Reported quarterly or annual results80
  6. May 7, 2025Reported quarterly or annual results81
  7. Feb 26, 2025Reported quarterly or annual results82
  8. Nov 6, 2024Reported quarterly or annual results83

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

280 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 71 major events, 116 insider forms, 36 large holders, 37 other. The latest 20:

  1. Oct 8, 2026SCHEDULE 13G EDGAR
  2. Sep 2, 20264 EDGAR
  3. Aug 27, 20264 EDGAR
  4. Aug 27, 20263 EDGAR
  5. Aug 20, 2026144 EDGAR
  6. Aug 19, 20268-K EDGAR
  7. Aug 7, 2026SCHEDULE 13G/A EDGAR
  8. Aug 5, 202610-Q EDGAR
  9. Aug 5, 20268-K EDGAR
  10. Jul 22, 20268-K EDGAR
  11. Jul 7, 2026144 EDGAR
  12. Jun 25, 2026144 EDGAR
  13. Jun 23, 20264 EDGAR
  14. Jun 23, 20264 EDGAR
  15. Jun 23, 20264 EDGAR
  16. Jun 23, 20264 EDGAR
  17. Jun 23, 20264 EDGAR
  18. Jun 23, 20264 EDGAR
  19. Jun 23, 20264 EDGAR
  20. Jun 16, 20268-K EDGAR

The 280 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

30 open-market trades by officers, directors and large owners since October 2021: 3 buys and 27 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 11, 2026Yung JohnPresident, Intl. and CabotSale2,000$80.51$161.0KForm 4
Jun 10, 2026Asch Andrew EricSVP, General CounselSale774$82.08$63.5KForm 4
Jun 10, 2026Yung JohnPresident, Intl. and CabotSale2,000$82.08$164.2KForm 4
Jun 9, 2026Asch Andrew EricSVP, General CounselSale8,311$81.47$677.1KForm 4
Mar 3, 2026Bell Ryan BPresident, MCMSale260$68.62$17.8KForm 4
Mar 2, 2026Bell Ryan BPresident, MCMSale7,240$69.04$499.8KForm 4
Dec 10, 2025Bell Ryan BPresident, MCMSale2,500$55.00$137.5KForm 4
Dec 3, 2025OLLE LAURADirectorSale1,423$52.79$75.1KForm 4
Nov 26, 2025Yung JohnPresident, Intl. and CabotSale1,000$52.00$52.0KForm 4
Nov 6, 2025Bell Ryan BPresident, MCMSale5,000$50.00$250.0KForm 4
Nov 6, 2025Yung JohnPresident, Intl. and CabotSale5,000$50.00$250.0KForm 4
Mar 5, 2025CLARK JONATHAN CEVP, CFO & TreasurerBuy28,600$35.00$1.0MForm 4
Mar 5, 2025Gupta AshwiniDirectorBuy40,000$35.10$1.4MForm 4
Mar 5, 2025Masih AshishPresident and CEOBuy20,000$35.14$702.8KForm 4
Nov 27, 2024OLLE LAURADirectorSale1,340$49.16$65.9KForm 4
Jul 17, 2024Asch Andrew EricSVP, General CounselSale1,251$50.00$62.5KForm 4
Mar 8, 2024Bell Ryan BPresident, MCMSale5,500$50.00$275.0KForm 4
Aug 15, 2023CLARK JONATHAN CEVP, CFO & TreasurerSale41,617$49.29$2.1MForm 4
Jun 20, 2023OLLE LAURADirectorSale1,040$48.69$50.6KForm 4
Jun 21, 2022OLLE LAURADirectorSale889$57.42$51.0KForm 4

All 30 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Ashish Masih60$923.0K$8.1M95
2025John Yung61$531.7K$3.2M95
2025Tomas Hernanz47$472.2K$3.0M95
2025Ryan B. Bell47$566.3K$2.8M95
2025Andrew E. Asch52$453.5K$1.6M95
2025Jonathan C. Clark$171.8K$182.3K95
2024President and Chief Executive Officer$894.6K$5.3M95
2024Former Executive Vice PresidentChief Financial Officer and Treasurer$693.0K$2.8M95
2024PresidentMidland Credit Management$546.5K$2.3M95
2024Senior Vice PresidentGeneral Counsel and Secretary$423.7K$1.2M95
2023President and Chief Executive Officer$861.1K$5.0M95
2023Former Executive Vice PresidentChief Financial Officer and Treasurer$670.0K$2.6M95
2023PresidentMidland Credit Management$518.0K$2.0M95
2023Senior Vice PresidentGeneral Counsel and Secretary$395.3K$1.1M95

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.3,679,162$343.2M0.0%−214,313
Vanguard Portfolio Management LLC1,311,523$122.4M0.0%+68,841
Dimensional Fund Advisors LP1,047,576$97.7M0.0%+40,553
Vanguard Capital Management LLC911,277$85.0M0.0%−24,781
State Street Corp856,207$79.9M0.0%+6,748
Geode Capital Management, LLC639,836$59.7M0.0%+17,252
American Century Companies Inc631,819$58.9M0.0%+466,987
Arrowstreet Capital, Limited Partnership527,078$49.2M0.0%+193,060
Aqr Capital Management LLC490,098$45.7M0.0%+26,801
Jpmorgan Chase & Co436,176$40.5M0.0%−13,270
Wellington Management Group Llp426,069$39.7M0.0%−168,305
Driehaus Capital Management LLC409,924$38.2M0.2%New
Charles Schwab Investment Management Inc398,539$37.2M0.0%−48,542
Heartland Advisors Inc362,825$33.8M1.5%−25,600
Allianz Asset Management GmbH361,705$33.7M0.0%−11,940
Goldman Sachs Group Inc342,601$32.0M0.0%−347,244
Fmr LLC338,749$31.6M0.0%+25,827
Nuveen, LLC332,490$31.0M0.0%+1,542
Morgan Stanley316,741$29.5M0.0%−2,664
Amundi304,202$28.4M0.0%+294,796
Two Sigma Investments, LP293,274$27.4M0.0%+10,295
UBS Group AG274,666$25.6M0.0%−183,911
Stephens Investment Management Group LLC264,755$24.7M0.3%−1,036,323
Portolan Capital Management, LLC255,715$23.9M0.9%New
Northern Trust Corp255,234$23.8M0.0%+6,035

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Encore Capital Group is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARENCORE CAPITAL GROUP INC2
  • CIK0001084961
  • Employer ID (EIN)48-109090919
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company19
  • Incorporated inDelaware19
  • Fiscal year endsDecember 312
  • Industry code (SIC)6153 Short-Term Business Credit Institutions2
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance2
  • Business address350 Camino De La Reina, Suite 100, San Diego, CA 921082
  • Phone1-877-345-30022
  • Shares outstanding21,209,366 as of Jul 29, 202617
  • Public float$876.5M as of Jun 30, 202519
  • AuditorBDO USA, P.C., San Diego, California PCAOB ID 243; it also attests to the company’s internal control over financial reporting19
  • On EDGAR sinceApr 30, 19992
  • Filings1,687 in all: 4 (692), 8-K (412), SC 13G/A (120), 10-Q (82), 3 (49), SC 13D/A (39), SC 13G (35), DEF 14A (28)2
    All 50 form types

    10-K (26), 144 (21), UPLOAD (20), 4/A (17), DEFA14A (16), CORRESP (14), 424B3 (9), S-8 (9), SCHEDULE 13G/A (9), 424B5 (7), 8-K/A (6), CT ORDER (6), ARS (5), S-1/A (5), SC 13D (5), SCHEDULE 13G (5), NT 10-Q (4), S-3 (4), S-3/A (4), 3/A (3), 425 (3), 5 (3), EFFECT (3), PRE 14A (3), 10-K/A (2), S-1 (2), S-3ASR (2), S-4/A (2), SC TO-I/A (2), 10-K405 (1), 10-Q/A (1), 305B2 (1), 424B4 (1), 8-A12G (1), AW (1), FWP (1), NT 10-K (1), POS AM (1), REGDEX (1), S-1MEF (1), S-4 (1), SC TO-I (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Apr 29, 2026
    Latest 8-K (8-K) Aug 19, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 Par Value Per ShareECPGThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).19

Risk factors and legal proceedings

The risks Encore Capital Group names in Item 1A of its 10-K filed Feb 25, 2026: 37 risks under these headings, as written.19

  • Risks Related to Our Business and Industry
  • Financial, economic and other conditions affect the ability of consumers to pay their obligations, which could harm our financial results.
  • We may not be able to purchase receivables at favorable prices, which could limit our growth or profitability.
  • A significant portion of our portfolio purchases during any period may be concentrated with a small number of sellers, which could adversely affect our volume and timing of purchases.
  • We face intense competition that could impair our ability to maintain or grow our purchasing volumes.
  • We may purchase receivable portfolios that are unprofitable or we may not be able to collect sufficient amounts to recover our costs and to fund our operations.
  • We may experience losses on portfolios consisting of new types of receivables or receivables in new geographies due to our lack of collection experience with these receivables, which could harm our business, financial condition and operating results.
  • The statistical models we use to project remaining cash flows from our receivable portfolios may prove to be inaccurate and, if so, our financial results may be adversely affected.
  • A significant portion of our collections relies upon our success in individual lawsuits brought against consumers and our ability to collect on judgments in our favor.
  • Increases in costs associated with our collections through collection litigation can raise our costs associated with our collection strategies and the individual lawsuits brought against consumers to collect on judgments in our favor.
  • Our business, financial condition and operating results may be adversely affected if consumer bankruptcy filings increase or if bankruptcy laws change.
  • We are subject to audits conducted by sellers of debt portfolios and may be required to implement specific changes to our policies and practices as a result of adverse findings by such sellers as a part of the audit process, which could limit our ability to purchase debt portfolios from them in the future, which could materially and adversely affect our business.
The other 26 risks
  • We rely on third parties to provide us with services in connection with certain aspects of our business, and any failure by these third parties to perform their obligations, or our inability to arrange for alternative third-party providers for such services, could have an adverse effect on our business, financial condition and operating results.
  • We are dependent on our data gathering systems and proprietary consumer profiles, and if access to such data was lost or became public, our business could be materially and adversely affected.
  • If our technology platforms were to fail, become ineffective, or if we are not able to successfully anticipate, invest in, or adopt technological advances within our industry, it could have an adverse effect on our operations.
  • Our business results and operations could be adversely affected by a cybersecurity event, breach, business interruption or similar incident relating to our information technology systems.
  • We have significant international operations, which exposes us to additional risks and uncertainties.
  • We may not be able to adequately protect the intellectual property rights upon which we rely and, as a result, any lack of protection may diminish our competitive advantage.
  • Exchange rate fluctuations could adversely affect our business, financial condition and operating results.
  • An outbreak of a contagious disease or other public health emergency could materially impact our business and results of operations.
  • Risks Related to Government Regulation and Litigation
  • Failure to comply with government regulation could result in the suspension, termination or impairment of our ability to conduct business, may require the payment of significant fines and penalties, or require other significant expenditures.
  • We are subject to ongoing risks of regulatory investigations and litigation, including individual and class action lawsuits, under consumer credit, consumer protection, theft, privacy, data protection, collections, and other laws, and we may be subject to awards of substantial damages or be required to make other expenditures or change our business practices as a result.
  • Negative publicity associated with litigation, governmental investigations, regulatory actions, cybersecurity breaches and other public statements could damage our reputation.
  • Risks Related to Our Indebtedness and Common Stock
  • Our significant indebtedness could adversely affect our financial health and could harm our ability to react to changes to our business.
  • Servicing our indebtedness requires a significant amount of cash, and we may not have sufficient cash flow from our business to pay our substantial indebtedness.
  • Despite our current indebtedness levels, we may still incur substantially more indebtedness or take other actions which would intensify the risks discussed above.
  • We may not be able to continue to satisfy the covenants in our debt agreements.
  • Increases in interest rates could adversely affect our business, financial condition and operating results.
  • Our common stock price may be subject to significant fluctuations and volatility.
  • Future sales of our common stock or the issuance of other equity securities may adversely affect the market price of our common stock.
  • We may not have the ability to raise the funds necessary to repurchase our notes upon a fundamental change or change of control or to settle conversions in cash, and our future indebtedness may contain limitations on our ability to pay cash upon conversion of our convertible notes.
  • Provisions in our charter documents and Delaware law may delay or prevent acquisition of us, which could decrease the value of shares of our common stock.
  • We are dependent on our management team for the adoption and implementation of our strategies and the loss of its services could have an adverse effect on our business.
  • We may not be able to recruit and retain key employees and workers in a competitive labor market.
  • We may make acquisitions that prove unsuccessful and any mergers, acquisitions, dispositions or joint venture activities may change our business and financial results and introduce new risks.
  • An impairment of goodwill could negatively impact our financial results.
  • We may consume resources in pursuing business opportunities, financings or other transactions that are not consummated, which may strain or divert our resources.
  • Failure to establish and maintain effective internal controls could have a material adverse effect on the accuracy and timing of our financial reporting in future periods.

Legal proceedings

We are involved in disputes, legal actions, regulatory investigations, inquiries, and other actions from time to time in the ordinary course of business. Although no assurance can be given with respect to the outcome of these or any other actions and the effect such outcomes may have, based on our current knowledge, we believe any liability resulting from the outcome of such disputes, legal actions, regulatory investigations, inquiries, and other actions will not have a material adverse effect on our business, financial position or results of operations.

For additional information see “Note 13: Commitments and Contingencies” to the consolidated financial statements.

The opening of Item 3, Legal Proceedings.19

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