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Pagaya Technologies Ltd. (PGY) 10-Year Financial Performance & Capital Metrics

PGY • • Industrial / General
TechnologyInfrastructure SoftwareAI & Analytics PlatformsAI-Powered Surveillance & Analytics
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 Margin 40.51% +18.6%
  • EBITDA Margin 9.52% +1494.7%
  • Operating Margin 6.65% +310.7%
  • Net Margin -39.96% -140.4%
  • ROE -72.5% -303.9%
  • ROIC 5.49% +334.0%
  • Debt/Equity 1.54 +148.8%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial 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.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y94.44%
3Y31.1%
TTM29.45%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-7.27%

EPS CAGR

10Y-
5Y-
3Y-
TTM-5.69%

ROCE

10Y Avg-3.71%
5Y Avg-3.08%
3Y Avg-10.13%
Latest6%

Peer Comparison

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Sector-Specific
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STEMStem, Inc.165.29M19.70-0.19-68.67%62.2%-59.21%
WRDWeRide Inc.2.83B8.73-0.95-10.13%-6.97%-125.4%0.02
AISPAirship AI Holdings, Inc.123.03M3.60-1.8987.4%-364.1%
ARBEArbe Robotics Ltd.129.54M1.19-1.95-47.76%-70.78%-96.13%1.45

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+36.14M91.74M445.87M685.41M772.81M1B
Revenue Growth %-1.54%3.86%0.54%0.13%0.3%
Cost of Goods Sold+27.97M49.09M232.32M451.08M508.94M597.65M
COGS % of Revenue0.77%0.54%0.52%0.66%0.66%0.59%
Gross Profit+8.17M42.66M213.54M234.33M263.87M406.9M
Gross Margin %0.23%0.46%0.48%0.34%0.34%0.41%
Gross Profit Growth %-4.22%4.01%0.1%0.13%0.54%
Operating Expenses+12.08M21.4M219.35M485.83M288.27M340.06M
OpEx % of Revenue0.33%0.23%0.49%0.71%0.37%0.34%
Selling, General & Admin6.44M16.34M181.86M398.42M253.12M291.19M
SG&A % of Revenue0.18%0.18%0.41%0.58%0.33%0.29%
Research & Development5.43M12.33M66.21M150.93M74.38M76.57M
R&D % of Revenue0.15%0.13%0.15%0.22%0.1%0.08%
Other Operating Expenses200K-7.27M-28.72M-63.51M-39.24M-27.7M
Operating Income+-3.9M21.25M-5.81M-251.5M-24.4M66.84M
Operating Margin %-0.11%0.23%-0.01%-0.37%-0.03%0.07%
Operating Income Growth %-6.44%-1.27%-42.3%0.9%3.74%
EBITDA+-3.81M21.54M-4.99M-245.21M-5.27M95.59M
EBITDA Margin %-0.11%0.23%-0.01%-0.36%-0.01%0.1%
EBITDA Growth %-6.65%-1.23%-48.1%0.98%19.13%
D&A (Non-Cash Add-back)91K290K815K6.29M19.13M28.75M
EBIT-3.9M13.98M-34.53M-315.02M-63.64M39.14M
Net Interest Income+06.99M28.88M57.76M38.75M32.29M
Interest Income06.99M28.88M57.76M38.75M32.29M
Interest Expense000000
Other Income/Expense-124K-55K-55.84M-24.87M-156.77M-487.96M
Pretax Income+-4.03M21.2M-61.65M-276.37M-181.17M-421.12M
Pretax Margin %-0.11%0.23%-0.14%-0.4%-0.23%-0.42%
Income Tax+172K1.28M7.88M16.4M15.57M24.58M
Effective Tax Rate %1.4%0.68%1.48%1.09%0.71%0.95%
Net Income+-5.62M14.47M-91.15M-302.32M-128.44M-401.41M
Net Margin %-0.16%0.16%-0.2%-0.44%-0.17%-0.4%
Net Income Growth %-3.57%-7.3%-2.32%0.58%-2.13%
Net Income (Continuing)-4.2M19.92M-69.52M-292.77M-196.74M-445.7M
Discontinued Operations000000
Minority Interest24.8M84.94M176.06M211.9M106.03M115.06M
EPS (Diluted)+-0.531.08-4.27-7.65-2.14-5.66
EPS Growth %-3.04%-4.95%-0.79%0.72%-1.64%
EPS (Basic)-0.541.08-4.27-7.65-2.14-5.66
Diluted Shares Outstanding15.93M18.38M16.28M38.25M60.04M70.88M
Basic Shares Outstanding15.54M18.38M16.28M38.25M60.02M70.88M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+20.89M76.97M246.53M419.82M303.4M351.48M
Cash & Short-Term Investments14.91M62.63M200.94M310.8M188.97M195.72M
Cash Only4.83M5.07M190.78M309.79M186.48M187.92M
Short-Term Investments10.08M57.57M10.16M1.01M2.49M7.8M
Accounts Receivable4.26M12.81M33.7M59.22M87.42M127.4M
Days Sales Outstanding43.0750.9727.5931.5441.2946.29
Inventory000000
Days Inventory Outstanding------
Other Current Assets50K1.11M8.55M42.7M20.3M20.8M
Total Non-Current Assets+37.74M127.3M343.72M625.26M904.97M939.59M
Property, Plant & Equipment727K1.53M7.65M92.74M97.29M74.85M
Fixed Asset Turnover49.71x59.80x58.30x7.39x7.94x13.42x
Goodwill000010.95M23.06M
Intangible Assets00002.55M12.82M
Long-Term Investments37.01M110.61M292.42M488.86M740.69M778.25M
Other Non-Current Assets-37.74M15.15M37.97M37.98M53.51M50.6M
Total Assets+58.63M204.27M590.26M1.05B1.21B1.29B
Asset Turnover0.62x0.45x0.76x0.66x0.64x0.78x
Asset Growth %-2.48%1.89%0.77%0.16%0.07%
Total Current Liabilities+1.64M4.27M28.67M128.02M74.92M195.49M
Accounts Payable154K581K11.58M1.74M1.29M6.99M
Days Payables Outstanding2.014.3218.191.410.924.27
Short-Term Debt00061.83M37.69M126.83M
Deferred Revenue (Current)000000
Other Current Liabilities624K942K1.9M6.42M18.21M29.04M
Current Ratio12.75x18.04x8.60x3.28x4.05x1.80x
Quick Ratio12.75x18.04x8.60x3.28x4.05x1.80x
Cash Conversion Cycle------
Total Non-Current Liabilities+05.88M77.19M151.64M467.7M654.03M
Long-Term Debt0037.91M92.8M324.03M516.92M
Capital Lease Obligations00049.1M43.94M30.61M
Deferred Tax Liabilities000568K107K0
Other Non-Current Liabilities05.88M39.28M9.17M99.63M106.5M
Total Liabilities1.64M10.15M105.86M279.66M542.63M849.53M
Total Debt+0037.91M212.26M412.58M680.81M
Net Debt-4.83M-5.07M-152.87M-97.53M226.11M492.89M
Debt / Equity--0.08x0.28x0.62x1.54x
Debt / EBITDA-----7.12x
Net Debt / EBITDA--0.24x---5.16x
Interest Coverage------
Total Equity+56.99M194.13M484.4M765.42M665.75M441.55M
Equity Growth %-2.41%1.5%0.58%-0.13%-0.34%
Book Value per Share3.5810.5629.7620.0111.096.23
Total Shareholders' Equity32.19M109.18M308.34M553.52M559.72M326.49M
Common Stock3K3K0000
Retained Earnings-11.59M2.88M-111.88M-414.2M-542.64M-944.04M
Treasury Stock000000
Accumulated OCI000-713K444K-11.49M
Minority Interest24.8M84.94M176.06M211.9M106.03M115.06M

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-7.95M4.26M49.81M-40M9.58M66.52M
Operating CF Margin %-0.22%0.05%0.11%-0.06%0.01%0.07%
Operating CF Growth %-1.54%10.7%-1.8%1.24%5.95%
Net Income-5.62M19.92M-69.52M-302.32M-196.74M-445.7M
Depreciation & Amortization91K290K815K6.29M19.13M28.75M
Stock-Based Compensation74K156K67.78M071.06M61.5M
Deferred Taxes3.71M00000
Other Non-Cash Items1.13M-331K53.59M297.96M137.02M419.88M
Working Capital Changes-3.62M-15.78M-2.86M-41.94M-20.89M2.09M
Change in Receivables-3.78M-19.72M-27.55M-46.45M-20.74M-24M
Change in Inventory000000
Change in Payables0427K11M-9.84M-448K5.68M
Cash from Investing+-36.24M-122.76M-140.74M-159.95M-412.69M-498.64M
Capital Expenditures-666K-1.1M-6.62M-22.41M-20.19M-17.74M
CapEx % of Revenue0.02%0.01%0.01%0.03%0.03%0.02%
Acquisitions------
Investments------
Other Investing-35.57M0001.61M-5.5M
Cash from Financing+46.54M119.5M289.62M332.45M289.1M436.69M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing46.54M54.69M79.07M-142.55M-20.13M40.79M
Net Change in Cash------
Free Cash Flow+-8.61M3.16M43.19M-62.41M-10.61M43.28M
FCF Margin %-0.24%0.03%0.1%-0.09%-0.01%0.04%
FCF Growth %-1.37%12.67%-2.45%0.83%5.08%
FCF per Share-0.540.172.65-1.63-0.180.61
FCF Conversion (FCF/Net Income)1.41x0.29x-0.55x0.13x-0.07x-0.17x
Interest Paid000017.78M80.32M
Taxes Paid0324K2.61M09.17M4.91M

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-9.86%11.52%-26.87%-48.38%-17.95%-72.5%
Return on Invested Capital (ROIC)-5.61%13.22%-1.67%-37.75%-2.35%5.49%
Gross Margin22.61%46.5%47.89%34.19%34.14%40.51%
Net Margin-15.55%15.77%-20.44%-44.11%-16.62%-39.96%
Debt / Equity--0.08x0.28x0.62x1.54x
FCF Conversion1.41x0.29x-0.55x0.13x-0.07x-0.17x
Revenue Growth-153.84%386.01%53.73%12.75%29.99%

Revenue by Segment

202220232024
Financial Service68.5M76.8M88.5M
Financial Service Growth-12.12%15.23%

Revenue by Geography

202220232024
UNITED STATES685.13M772.81M1B
UNITED STATES Growth-12.80%29.99%
CAYMAN ISLANDS285K--
CAYMAN ISLANDS Growth---

Frequently Asked Questions

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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