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Flywire Corporation (FLYW) 10-Year Financial Performance & Capital Metrics

FLYW • • Industrial / General
TechnologyIT ServicesPayment Processing & Financial TechnologySpecialized Payment Solutions
AboutFlywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly. It serves education, healthcare, travel, and business to business organizations. Flywire Corporation was formerly known as peerTransfer Corporation and changed its name to Flywire Corporation in December 2016. Flywire Corporation was incorporated in 2009 and is headquartered in Boston, Massachusetts.Show more
  • Revenue $492M +22.1%
  • EBITDA $10M +275.7%
  • Net Income $3M +133.9%
  • EPS (Diluted) 0.02 +130.0%
  • Gross Margin 63.94% +0.8%
  • EBITDA Margin 2.05% +243.9%
  • Operating Margin -1.47% +72.4%
  • Net Margin 0.59% +127.7%
  • ROE 0.36% +126.8%
  • ROIC -2.4% +80.1%
  • Debt/Equity 0.00 +13.2%
  • Interest Coverage -13.49 +76.7%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓FCF machine: 18.4% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 39.0%

✗Weaknesses

  • ✗Shares diluted 12.6% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y38.98%
3Y34.75%
TTM22.71%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-112.12%

EPS CAGR

10Y-
5Y-
3Y-
TTM-121.61%

ROCE

10Y Avg-9.49%
5Y Avg-5.4%
3Y Avg-3.37%
Latest-0.89%

Peer Comparison

Specialized Payment Solutions
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Valuation
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
FLYWFlywire Corporation1.67B13.87619.2022.09%-0.42%-0.29%5.43%0.00
CTLPCantaloupe, Inc.802.56M10.8912.6612.64%19.21%23.59%0.42%0.19
USIOUsio, Inc.37.41M1.3711.420.41%-0.46%-2.08%5.09%0.20
JFU9F Inc.52.73M6.051.44-24.85%16.13%1.37%86.01%0.00
NYAXNayax Ltd.2.18B59.08-369.2533.34%6.47%11.59%0.82%0.33

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+94.92M131.78M201.15M289.38M403.09M492.14M
Revenue Growth %-0.39%0.53%0.44%0.39%0.22%
Cost of Goods Sold+36.73M47.8M70.19M107.93M147.34M177.49M
COGS % of Revenue0.39%0.36%0.35%0.37%0.37%0.36%
Gross Profit+58.19M83.98M130.96M181.44M255.75M314.65M
Gross Margin %0.61%0.64%0.65%0.63%0.63%0.64%
Gross Profit Growth %-0.44%0.56%0.39%0.41%0.23%
Operating Expenses+75.65M99.79M144.22M211.66M277.27M321.91M
OpEx % of Revenue0.8%0.76%0.72%0.73%0.69%0.65%
Selling, General & Admin60.64M75.29M112.92M161.41M215.25M255.27M
SG&A % of Revenue0.64%0.57%0.56%0.56%0.53%0.52%
Research & Development15.01M24.5M31.3M50.26M62.03M66.64M
R&D % of Revenue0.16%0.19%0.16%0.17%0.15%0.14%
Other Operating Expenses000000
Operating Income+-17.46M-15.81M-13.26M-30.22M-21.52M-7.25M
Operating Margin %-0.18%-0.12%-0.07%-0.1%-0.05%-0.01%
Operating Income Growth %-0.09%0.16%-1.28%0.29%0.66%
EBITDA+-13.73M-9.02M-4.26M-17.92M-5.75M10.11M
EBITDA Margin %-0.14%-0.07%-0.02%-0.06%-0.01%0.02%
EBITDA Growth %-0.34%0.53%-3.21%0.68%2.76%
D&A (Non-Cash Add-back)3.73M6.79M9M12.3M15.76M17.36M
EBIT-17.11M-15.74M-23.91M-36.15M-3.98M2.4M
Net Interest Income+-2.46M-2.53M-2.02M2.03M12.98M20.9M
Interest Income0003.24M13.35M21.44M
Interest Expense2.46M2.53M2.02M1.21M372K538K
Other Income/Expense-2.11M-2.46M-12.67M-7.14M17.17M9.12M
Pretax Income+-19.57M-18.28M-25.93M-37.36M-4.35M1.86M
Pretax Margin %-0.21%-0.14%-0.13%-0.13%-0.01%0%
Income Tax+550K-7.17M2.16M1.99M4.21M-1.04M
Effective Tax Rate %1.03%0.61%1.08%1.05%1.97%1.56%
Net Income+-20.12M-11.11M-28.09M-39.35M-8.57M2.9M
Net Margin %-0.21%-0.08%-0.14%-0.14%-0.02%0.01%
Net Income Growth %-0.45%-1.53%-0.4%0.78%1.34%
Net Income (Continuing)-20.12M-11.11M-28.09M-39.35M-8.57M2.9M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+-0.20-0.11-0.26-0.36-0.070.02
EPS Growth %-0.45%-1.36%-0.38%0.79%1.3%
EPS (Basic)-0.20-0.11-0.26-0.36-0.070.02
Diluted Shares Outstanding101.11M101.11M106.44M107.94M114.83M129.34M
Basic Shares Outstanding101.11M101.11M106.44M107.94M114.83M124.27M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+108.18M148.56M443.79M450.64M815.68M762.88M
Cash & Short-Term Investments86.03M104.05M385.36M349.18M654.61M611.09M
Cash Only86.03M104.05M385.36M349.18M654.61M495.24M
Short-Term Investments00000115.85M
Accounts Receivable19.45M35.75M44.59M81.94M142.85M129.27M
Days Sales Outstanding74.7799.0280.92103.35129.3595.87
Inventory000000
Days Inventory Outstanding------
Other Current Assets05M4M19.53M18.23M22.53M
Total Non-Current Assets+32.82M122.88M196.06M223.64M264.05M359.56M
Property, Plant & Equipment4.85M5.1M9.44M13.32M15.13M17.16M
Fixed Asset Turnover19.57x25.83x21.30x21.73x26.63x28.68x
Goodwill12.92M44.65M85.84M97.77M121.65M149.56M
Intangible Assets14.3M68.21M93.6M97.62M108.18M118.68M
Long-Term Investments0000050.13M
Other Non-Current Assets749K4.92M7.18M14.95M19.09M24.04M
Total Assets+141M271.44M639.85M674.29M1.08B1.12B
Asset Turnover0.67x0.49x0.31x0.43x0.37x0.44x
Asset Growth %-0.93%1.36%0.05%0.6%0.04%
Total Current Liabilities+82.78M88.38M117.48M177.28M273.79M289.77M
Accounts Payable2.9M5.44M10.24M13.32M12.59M15.35M
Days Payables Outstanding28.8541.553.2645.0631.1831.57
Short-Term Debt3.9M00000
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K
Other Current Liabilities5.7M16.11M21.57M16.94M19.75M19.05M
Current Ratio1.31x1.68x3.78x2.54x2.98x2.63x
Quick Ratio1.31x1.68x3.78x2.54x2.98x2.63x
Cash Conversion Cycle------
Total Non-Current Liabilities+133.5M264.82M40.17M15.11M19.82M17.9M
Long-Term Debt20.74M24.35M25.94M000
Capital Lease Obligations000000
Deferred Tax Liabilities295K481K8.4M12.15M15.39M12.64M
Other Non-Current Liabilities112.47M239.99M5.83M2.96M4.43M5.26M
Total Liabilities216.28M353.2M157.64M192.38M293.61M307.68M
Total Debt+24.63M24.35M25.94M1.81M1.47M1.72M
Net Debt-61.39M-79.7M-359.42M-347.37M-653.14M-493.52M
Debt / Equity--0.05x0.00x0.00x0.00x
Debt / EBITDA-----0.17x
Net Debt / EBITDA------48.82x
Interest Coverage-7.10x-6.24x-6.56x-24.95x-57.84x-13.49x
Total Equity+-75.28M-81.76M482.2M481.9M786.12M814.77M
Equity Growth %--0.09%6.9%-0%0.63%0.04%
Book Value per Share-0.74-0.814.534.466.856.30
Total Shareholders' Equity-75.28M-81.76M482.2M481.9M786.12M814.77M
Common Stock2K2K11K11K12K13K
Retained Earnings-86.67M-97.77M-125.86M-165.2M-173.77M-170.87M
Treasury Stock-748K-748K-748K-748K-747K-46.27M
Accumulated OCI102K-214K-399K-1.91M1.32M-2.07M
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+4.07M-14.22M17.13M4.88M80.63M91.47M
Operating CF Margin %0.04%-0.11%0.09%0.02%0.2%0.19%
Operating CF Growth %--4.49%2.2%-0.72%15.52%0.13%
Net Income-20.12M-11.11M-27.96M-39.35M-8.57M2.9M
Depreciation & Amortization3.73M6.79M9M12.3M15.76M17.36M
Stock-Based Compensation2.95M3.84M18.93M30.26M43.73M64.93M
Deferred Taxes-11K-8.54M-45K-1.71M72K-8.79M
Other Non-Cash Items1.35M6.9M13.91M-506K2.79M-1.29M
Working Capital Changes16.17M-12.12M3.3M3.88M26.84M16.36M
Change in Receivables-431K-7.99M-587K-323K-58.45M13.78M
Change in Inventory13.52M0-7.64M000
Change in Payables2.25M5.67M11.69M6.57M5.55M3.3M
Cash from Investing+-3.75M-81.54M-62.91M-24.68M-38.78M-215.8M
Capital Expenditures-3.75M-2.14M-6.68M-7.09M-1.01M-924K
CapEx % of Revenue0.04%0.02%0.03%0.02%0%0%
Acquisitions------
Investments------
Other Investing00-119K0-5M-5.32M
Cash from Financing+-3.92M119.05M327.51M-23.97M263.42M-37.63M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing-13.62M-706K-1.86M-3.7M2.3M6.11M
Net Change in Cash------
Free Cash Flow+325K-16.36M10.45M-2.21M74.61M90.54M
FCF Margin %0%-0.12%0.05%-0.01%0.19%0.18%
FCF Growth %--51.35%1.64%-1.21%34.73%0.21%
FCF per Share0.00-0.160.10-0.020.650.70
FCF Conversion (FCF/Net Income)-0.20x1.28x-0.61x-0.12x-9.41x31.54x
Interest Paid02.1M0000
Taxes Paid000000

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)---14.03%-8.16%-1.35%0.36%
Return on Invested Capital (ROIC)---8.1%-17.62%-12.07%-2.4%
Gross Margin61.31%63.72%65.11%62.7%63.45%63.94%
Net Margin-21.19%-8.43%-13.96%-13.6%-2.13%0.59%
Debt / Equity--0.05x0.00x0.00x0.00x
Interest Coverage-7.10x-6.24x-6.56x-24.95x-57.84x-13.49x
FCF Conversion-0.20x1.28x-0.61x-0.12x-9.41x31.54x
Revenue Growth-38.84%52.64%43.86%39.3%22.09%

Revenue by Segment

2021202220232024
Transactions147.99M224.15M329.72M410.26M
Transactions Growth-51.46%47.10%24.43%
Platform And Usage Based Fees53.16M65.23M73.37M-
Platform And Usage Based Fees Growth-22.71%12.49%-

Revenue by Geography

2021202220232024
United States and Canada (Americas)-194.43M222.58M221.62M
United States and Canada (Americas) Growth--14.48%-0.43%
Europe, the Middle East and Africa (EMEA)-69.19M120.84M188.87M
Europe, the Middle East and Africa (EMEA) Growth--74.66%56.30%
Asia and Pacific (APAC)-25.76M59.67M81.66M
Asia and Pacific (APAC) Growth--131.64%36.84%
UNITED STATES131.68M---
UNITED STATES Growth----
CANADA27.95M---
CANADA Growth----
UNITED KINGDOM27.73M---
UNITED KINGDOM Growth----
Other Countries13.79M---
Other Countries Growth----

Frequently Asked Questions

Growth & Financials

Flywire Corporation (FLYW) reported $583.0M in revenue for fiscal year 2024. This represents a 514% increase from $94.9M in 2019.

Flywire Corporation (FLYW) grew revenue by 22.1% over the past year. This is strong growth.

Flywire Corporation (FLYW) reported a net loss of $2.4M for fiscal year 2024.

Dividend & Returns

Flywire Corporation (FLYW) has a return on equity (ROE) of 0.4%. This is below average, suggesting room for improvement.

Flywire Corporation (FLYW) generated $48.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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