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Pagaya Technologies Ltd.(PGY)Earnings, Financials & Key Ratios
PGY•NASDAQ
$14.83
$1.05B mkt cap·Price updated May 6, 2026
AboutPagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and the Cayman Islands. It develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. Its partners include high-growth financial technology companies, incumbent financial institutions, auto finance providers, and brokers. The company was founded in 2016 and is headquartered in Tel Aviv, Israel.Show more
- Revenue$1B+30.0%
- EBITDA$96M+1912.9%
- Net Income-$401M-212.5%
- EPS (Diluted)-5.66-164.5%
- Gross Margin40.51%+18.6%
- EBITDA Margin9.52%+1494.7%
- Operating Margin6.65%+310.7%
- Net Margin-39.96%-140.4%
- ROE-72.5%-303.9%
- ROIC5.49%+334.0%
- Debt/Equity1.54+148.8%
PGY Key Insights
Pagaya Technologies Ltd. (PGY) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y sales CAGR of 94.4%
✗Weaknesses
- ✗Shares diluted 18.1% 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.
PGY Price & Volume
Pagaya Technologies Ltd. (PGY) stock price & volume — 10-year historical chart
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PGY Growth Metrics
Pagaya Technologies Ltd. (PGY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years94.44%
3 Years31.1%
TTM29.45%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-7.27%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-5.69%
Return on Capital
10 Years-3.71%
5 Years-3.08%
3 Years-10.13%
Last Year6%
PGY Recent Earnings
Pagaya Technologies Ltd. (PGY) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 4/12 qtrs (33%)
Q1 2026Latest
Feb 9, 2026EPS
$0.36
Est $0.34
+5.2%
Revenue
$335M
Est $349M
-4.2%
Q4 2025
Nov 10, 2025EPS
$0.23
Est $0.21
+8.8%
Revenue
$350M
Est $338M
+3.5%
Q3 2025
Aug 7, 2025EPS
$0.64
Est $0.69
-7.2%
Revenue
$318M
Est $339M
-6.3%
Q2 2025
May 7, 2025EPS
$0.69
Est $0.40
+72.5%
Revenue
$283M
Est $286M
-1.2%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 9, 2026 | $0.36vs $0.34+5.2% | $335Mvs $349M-4.2% |
| Q4 2025 | Nov 10, 2025 | $0.23vs $0.21+8.8% | $350Mvs $338M+3.5% |
| Q3 2025 | Aug 7, 2025 | $0.64vs $0.69-7.2% | $318Mvs $339M-6.3% |
| Q2 2025 | May 7, 2025 | $0.69vs $0.40+72.5% | $283Mvs $286M-1.2% |
Based on last 12 quarters of dataView full earnings history →
PGY Peer Comparison
Pagaya Technologies Ltd. (PGY) competitors in Payments and fintech infrastructure — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 UPST | 2.74B | 28.68 | 63.73 | 58.87% | 6.59% | 2.32 | ||
 AFRM | 21.85B | 65.58 | 437.20 | 38.8% | 7.6% | 8.83% | 2.56 | |
 PRAA | 818.67M | 21.29 | -2.73 | 10.36% | -25.96% | 0.03 | ||
 ENVA | 4.3B | 172.57 | 14.90 | 18.58% | 24.88% | 3.41 | ||
 FICO | 24.74B | 1067.00 | 40.20 | 15.91% | 33.67% | |||
 LC | 1.96B | 17.06 | 14.83 | 14.97% | 9.47% | 0.01 | ||
 TREE | 549.66M | 39.67 | 3.68 | 24.12% | 85.96% | 1.52 | ||
 OPRT | 258.55M | 5.81 | 10.96 | 19.49% | 6.66% | 7.21 |
Compare PGY vs Peers
Pagaya Technologies Ltd. (PGY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
PGY Income Statement
Pagaya Technologies Ltd. (PGY) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 36.14M | 91.74M | 445.87M | 685.41M | 772.81M | 1B | 1.22B |
| Revenue Growth % | - | 153.84% | 386.01% | 53.73% | 12.75% | 29.99% | 29.45% |
| Cost of Goods Sold | 27.97M | 49.09M | 232.32M | 451.08M | 508.94M | 597.65M | 717.33M |
| COGS % of Revenue | 77.39% | 53.5% | 52.11% | 65.81% | 65.86% | 59.49% | - |
| Gross Profit | 8.17M▲ 0% | 42.66M▲ 422.0% | 213.54M▲ 400.6% | 234.33M▲ 9.7% | 263.87M▲ 12.6% | 406.9M▲ 54.2% | 498.65M▲ 0% |
| Gross Margin % | 22.61% | 46.5% | 47.89% | 34.19% | 34.14% | 40.51% | 41.01% |
| Gross Profit Growth % | - | 421.97% | 400.63% | 9.73% | 12.61% | 54.2% | - |
| Operating Expenses | 12.08M | 21.4M | 219.35M | 485.83M | 288.27M | 340.06M | 282.8M |
| OpEx % of Revenue | 33.41% | 23.33% | 49.2% | 70.88% | 37.3% | 33.85% | - |
| Selling, General & Admin | 6.44M | 16.34M | 181.86M | 398.42M | 253.12M | 291.19M | 238.03M |
| SG&A % of Revenue | 17.82% | 17.81% | 40.79% | 58.13% | 32.75% | 28.99% | - |
| Research & Development | 5.43M | 12.33M | 66.21M | 150.93M | 74.38M | 76.57M | 74.74M |
| R&D % of Revenue | 15.04% | 13.44% | 14.85% | 22.02% | 9.63% | 7.62% | - |
| Other Operating Expenses | 200K | -7.27M | -28.72M | -63.51M | -39.24M | -27.7M | -4M |
| Operating Income | -3.9M▲ 0% | 21.25M▲ 644.4% | -5.81M▼ 127.3% | -251.5M▼ 4229.6% | -24.4M▲ 90.3% | 66.84M▲ 373.9% | 215.85M▲ 0% |
| Operating Margin % | -10.8% | 23.17% | -1.3% | -36.69% | -3.16% | 6.65% | 17.75% |
| Operating Income Growth % | - | 644.39% | -127.33% | -4229.57% | 90.3% | 373.93% | - |
| EBITDA | -3.81M | 21.54M | -4.99M | -245.21M | -5.27M | 95.59M | 247.08M |
| EBITDA Margin % | -10.55% | 23.48% | -1.12% | -35.78% | -0.68% | 9.52% | 20.32% |
| EBITDA Growth % | - | 664.99% | -123.18% | -4810.11% | 97.85% | 1912.88% | 242.24% |
| D&A (Non-Cash Add-back) | 91K | 290K | 815K | 6.29M | 19.13M | 28.75M | 31.23M |
| EBIT | -3.9M | 13.98M | -34.53M | -315.02M | -63.64M | 39.14M | 124.26M |
| Net Interest Income | 0 | 6.99M | 28.88M | 57.76M | 38.75M | 32.29M | 40.95M |
| Interest Income | 0 | 6.99M | 28.88M | 57.76M | 38.75M | 32.29M | 40.95M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -124K | -55K | -55.84M | -24.87M | -156.77M | -487.96M | -426.84M |
| Pretax Income | -4.03M▲ 0% | 21.2M▲ 626.3% | -61.65M▼ 390.8% | -276.37M▼ 348.3% | -181.17M▲ 34.4% | -421.12M▼ 132.4% | -210.99M▲ 0% |
| Pretax Margin % | -11.15% | 23.11% | -13.83% | -40.32% | -23.44% | -41.92% | -17.35% |
| Income Tax | 172K | 1.28M | 7.88M | 16.4M | 15.57M | 24.58M | 3.81M |
| Effective Tax Rate % | -4.27% | 6.02% | -12.77% | -5.93% | -8.59% | -5.84% | -1.81% |
| Net Income | -5.62M▲ 0% | 14.47M▲ 357.5% | -91.15M▼ 729.9% | -302.32M▼ 231.7% | -128.44M▲ 57.5% | -401.41M▼ 212.5% | -190.83M▲ 0% |
| Net Margin % | -15.55% | 15.77% | -20.44% | -44.11% | -16.62% | -39.96% | -15.69% |
| Net Income Growth % | - | 357.47% | -729.93% | -231.67% | 57.52% | -212.53% | -7.27% |
| Net Income (Continuing) | -4.2M | 19.92M | -69.52M | -292.77M | -196.74M | -445.7M | -214.8M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 24.8M | 84.94M | 176.06M | 211.9M | 106.03M | 115.06M | 97.54M |
| EPS (Diluted) | -0.53▲ 0% | 1.08▲ 303.8% | -4.27▼ 495.4% | -7.65▼ 79.2% | -2.14▲ 72.0% | -5.66▼ 164.5% | -2.10▲ 0% |
| EPS Growth % | - | 303.77% | -495.37% | -79.16% | 72.03% | -164.49% | -5.69% |
| EPS (Basic) | -0.54 | 1.08 | -4.27 | -7.65 | -2.14 | -5.66 | - |
| Diluted Shares Outstanding | 15.93M | 18.38M | 16.28M | 38.25M | 60.04M | 70.88M | 91.05M |
| Basic Shares Outstanding | 15.54M | 18.38M | 16.28M | 38.25M | 60.02M | 70.88M | 78.54M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
PGY Balance Sheet
Pagaya Technologies Ltd. (PGY) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 20.89M | 76.97M | 246.53M | 419.82M | 303.4M | 351.48M | 419.74M |
| Cash & Short-Term Investments | 14.91M | 62.63M | 200.94M | 310.8M | 188.97M | 195.72M | 218.31M |
| Cash Only | 4.83M | 5.07M | 190.78M | 309.79M | 186.48M | 187.92M | 218.31M |
| Short-Term Investments | 10.08M | 57.57M | 10.16M | 1.01M | 2.49M | 7.8M | 0 |
| Accounts Receivable | 4.26M | 12.81M | 33.7M | 59.22M | 87.42M | 127.4M | 154.98M |
| Days Sales Outstanding | 43.07 | 50.97 | 27.59 | 31.54 | 41.29 | 46.29 | 40.03 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 50K | 1.11M | 8.55M | 42.7M | 20.3M | 20.8M | 46.45M |
| Total Non-Current Assets | 37.74M | 127.3M | 343.72M | 625.26M | 904.97M | 939.59M | 1.04B |
| Property, Plant & Equipment | 727K | 1.53M | 7.65M | 92.74M | 97.29M | 74.85M | 64.57M |
| Fixed Asset Turnover | 49.71x | 59.80x | 58.30x | 7.39x | 7.94x | 13.42x | 17.43x |
| Goodwill | 0 | 0 | 0 | 0 | 10.95M | 23.06M | 22.9M |
| Intangible Assets | 0 | 0 | 0 | 0 | 2.55M | 12.82M | 9.09M |
| Long-Term Investments | 37.01M | 110.61M | 292.42M | 488.86M | 740.69M | 778.25M | 3.31B |
| Other Non-Current Assets | -37.74M | 15.15M | 37.97M | 37.98M | 53.51M | 50.6M | 208.38M |
| Total Assets | 58.63M▲ 0% | 204.27M▲ 248.4% | 590.26M▲ 189.0% | 1.05B▲ 77.1% | 1.21B▲ 15.6% | 1.29B▲ 6.8% | 1.46B▲ 0% |
| Asset Turnover | 0.62x | 0.45x | 0.76x | 0.66x | 0.64x | 0.78x | 0.90x |
| Asset Growth % | - | 248.43% | 188.96% | 77.05% | 15.63% | 6.84% | -4.51% |
| Total Current Liabilities | 1.64M | 4.27M | 28.67M | 128.02M | 74.92M | 195.49M | 82.1M |
| Accounts Payable | 154K | 581K | 11.58M | 1.74M | 1.29M | 6.99M | 5.06M |
| Days Payables Outstanding | 2.01 | 4.32 | 18.19 | 1.41 | 0.92 | 4.27 | 3.98 |
| Short-Term Debt | 0 | 0 | 0 | 61.83M | 37.69M | 126.83M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 624K | 942K | 1.9M | 6.42M | 18.21M | 29.04M | 43.09M |
| Current Ratio | 12.75x | 18.04x | 8.60x | 3.28x | 4.05x | 1.80x | 1.80x |
| Quick Ratio | 12.75x | 18.04x | 8.60x | 3.28x | 4.05x | 1.80x | 1.80x |
| Cash Conversion Cycle | - | - | - | - | - | - | 36.06 |
| Total Non-Current Liabilities | 0 | 5.88M | 77.19M | 151.64M | 467.7M | 654.03M | 807.34M |
| Long-Term Debt | 0 | 0 | 37.91M | 92.8M | 324.03M | 516.92M | 767.46M |
| Capital Lease Obligations | 0 | 0 | 0 | 49.1M | 43.94M | 30.61M | 120.84M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 568K | 107K | 0 | 26.25M |
| Other Non-Current Liabilities | 0 | 5.88M | 39.28M | 9.17M | 99.63M | 106.5M | 293.11M |
| Total Liabilities | 1.64M | 10.15M | 105.86M | 279.66M | 542.63M | 849.53M | 889.44M |
| Total Debt | 0 | 0 | 37.91M | 212.26M | 412.58M | 680.81M | 802.42M |
| Net Debt | -4.83M | -5.07M | -152.87M | -97.53M | 226.11M | 492.89M | 584.11M |
| Debt / Equity | - | - | 0.08x | 0.28x | 0.62x | 1.54x | 1.54x |
| Debt / EBITDA | - | - | - | - | - | 7.12x | 3.25x |
| Net Debt / EBITDA | - | -0.24x | - | - | - | 5.16x | 5.16x |
| Interest Coverage | - | - | - | - | - | - | - |
| Total Equity | 56.99M▲ 0% | 194.13M▲ 240.6% | 484.4M▲ 149.5% | 765.42M▲ 58.0% | 665.75M▼ 13.0% | 441.55M▼ 33.7% | 565.94M▲ 0% |
| Equity Growth % | - | 240.64% | 149.53% | 58.02% | -13.02% | -33.68% | -92.66% |
| Book Value per Share | 3.58 | 10.56 | 29.76 | 20.01 | 11.09 | 6.23 | 6.22 |
| Total Shareholders' Equity | 32.19M | 109.18M | 308.34M | 553.52M | 559.72M | 326.49M | 468.4M |
| Common Stock | 3K | 3K | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -11.59M | 2.88M | -111.88M | -414.2M | -542.64M | -944.04M | -896.95M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | -713K | 444K | -11.49M | -45.29M |
| Minority Interest | 24.8M | 84.94M | 176.06M | 211.9M | 106.03M | 115.06M | 97.54M |
PGY Cash Flow Statement
Pagaya Technologies Ltd. (PGY) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -7.95M | 4.26M | 49.81M | -40M | 9.58M | 66.52M | 66.52M |
| Operating CF Margin % | -21.99% | 4.64% | 11.17% | -5.84% | 1.24% | 6.62% | - |
| Operating CF Growth % | - | 153.57% | 1070.1% | -180.3% | 123.94% | 594.58% | 1723.99% |
| Net Income | -5.62M | 19.92M | -69.52M | -302.32M | -196.74M | -445.7M | -190.83M |
| Depreciation & Amortization | 91K | 290K | 815K | 6.29M | 19.13M | 28.75M | 31.23M |
| Stock-Based Compensation | 74K | 156K | 67.78M | 0 | 71.06M | 61.5M | 29.23M |
| Deferred Taxes | 3.71M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.13M | -331K | 53.59M | 297.96M | 137.02M | 419.88M | 391.44M |
| Working Capital Changes | -3.62M | -15.78M | -2.86M | -41.94M | -20.89M | 2.09M | -51.7M |
| Change in Receivables | -3.78M | -19.72M | -27.55M | -46.45M | -20.74M | -24M | -36.85M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 427K | 11M | -9.84M | -448K | 5.68M | 5.67M |
| Cash from Investing | -36.24M | -122.76M | -140.74M | -159.95M | -412.69M | -498.64M | -245.5M |
| Capital Expenditures | -666K | -1.1M | -6.62M | -22.41M | -20.19M | -17.74M | -14.79M |
| CapEx % of Revenue | 1.84% | 1.2% | 1.49% | 3.27% | 2.61% | 1.77% | - |
| Acquisitions | 0 | 350K | -14.07M | 105.47M | 0 | -9.24M | -9.14M |
| Investments | - | - | - | - | - | - | - |
| Other Investing | -35.57M | 0 | 0 | 0 | 1.61M | -5.5M | -21.34M |
| Cash from Financing | 46.54M | 119.5M | 289.62M | 332.45M | 289.1M | 436.69M | 135.69M |
| Debt Issued (Net) | 0 | 0 | 37.91M | 181.51M | 207.08M | 294.07M | 101.9M |
| Equity Issued (Net) | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 2M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 46.54M | 54.69M | 79.07M | -142.55M | -20.13M | 40.79M | 29.82M |
| Net Change in Cash | 4.88M▲ 0% | 1M▼ 79.5% | 198.69M▲ 19729.8% | 134.55M▼ 32.3% | -114.53M▼ 185.1% | 3.98M▲ 103.5% | 68.52M▲ 0% |
| Free Cash Flow | -8.61M▲ 0% | 3.16M▲ 136.7% | 43.19M▲ 1266.7% | -62.41M▼ 244.5% | -10.61M▲ 83.0% | 43.28M▲ 507.9% | 170.59M▲ 0% |
| FCF Margin % | -23.83% | 3.44% | 9.69% | -9.1% | -1.37% | 4.31% | 14.03% |
| FCF Growth % | - | 136.69% | 1266.68% | -244.5% | 83% | 507.87% | 734.16% |
| FCF per Share | -0.54 | 0.17 | 2.65 | -1.63 | -0.18 | 0.61 | 0.61 |
| FCF Conversion (FCF/Net Income) | 1.41x | 0.29x | -0.55x | 0.13x | -0.07x | -0.17x | -0.89x |
| Interest Paid | 0 | 0 | 0 | 0 | 17.78M | 80.32M | 0 |
| Taxes Paid | 0 | 324K | 2.61M | 0 | 9.17M | 4.91M | 0 |
PGY Key Ratios
Pagaya Technologies Ltd. (PGY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 11.52% | -26.87% | -48.38% | -17.95% | -72.5% | -33.72% |
| Return on Invested Capital (ROIC) | 13.22% | -1.67% | -37.75% | -2.35% | 5.49% | 5.49% |
| Gross Margin | 46.5% | 47.89% | 34.19% | 34.14% | 40.51% | 41.01% |
| Net Margin | 15.77% | -20.44% | -44.11% | -16.62% | -39.96% | -15.69% |
| Debt / Equity | - | 0.08x | 0.28x | 0.62x | 1.54x | 1.54x |
| FCF Conversion | 0.29x | -0.55x | 0.13x | -0.07x | -0.17x | -0.89x |
| Revenue Growth | 153.84% | 386.01% | 53.73% | 12.75% | 29.99% | 29.45% |
PGY SEC Filings & Documents
Pagaya Technologies Ltd. (PGY) SEC filings — annual & quarterly reports (10-K, 10-Q)
PGY Frequently Asked Questions
Pagaya Technologies Ltd. (PGY) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Pagaya Technologies Ltd. (PGY) reported $1.22B in revenue for fiscal year 2024. This represents a 3265% increase from $36.1M in 2019.
Pagaya Technologies Ltd. (PGY) grew revenue by 30.0% over the past year. This is strong growth.
Pagaya Technologies Ltd. (PGY) reported a net loss of $190.8M for fiscal year 2024.
Dividend & Returns
Pagaya Technologies Ltd. (PGY) has a return on equity (ROE) of -72.5%. Negative ROE indicates the company is unprofitable.
Pagaya Technologies Ltd. (PGY) generated $170.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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Pagaya Technologies Ltd. (PGY) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
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Dividend History
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Earnings History
EPS trends, net income & profitability
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Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
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