What is Pagaya Technologies Ltd.'s earnings per share (EPS)?

Pagaya Technologies Ltd. (PGY) reported diluted earnings per share of $0.93 for fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Pagaya Technologies Ltd. (PGY) Financials

PGY NASDAQ

Trailing 12 months to June 30, 2026

Revenue $1.4B +20.5% YoY

Net Income $126.8M n/m YoY

EPS (Diluted) $1.38 n/m YoY

Free Cash Flow $251.8M +160.3% YoY

Market Cap $1.7B as of Oct 28, 2026

Price / Sales 1.2x on $1.4B revenue, trailing 12 months to June 30, 2026

Price / Earnings 13.5x on $126.8M net income, trailing 12 months to June 30, 2026

Price / Book 2.9x on $594.2M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 28, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 30, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PGY SEC filings page.

Pagaya Technologies Ltd. (PGY) reported $1.4B in revenue over the twelve months to Jun 30, 2026, up 20.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PGY FY2025 2026-10-25

FY2025 shows a business where operating discipline turned growth into cash generation, despite a balance sheet carrying 2.0x liabilities-to-equity.

The key earnings-quality shift came between FY2024 and FY2025: a net loss of $401M became net income of $81.4M, while operating cash flow reached $238.6M, or 293.2% of profit. Cash therefore materially exceeded accounting earnings, indicating that reported profit and cash generation were not moving in lockstep.

The 2025 margin step-up looks primarily like operating-cost leverage: revenue grew 26.1% while SG&A fell 26.8%. Gross margin was nearly unchanged at 42.4%, so the improvement came below gross profit rather than from a major change in the underlying revenue-cost spread.

The business has a modest reinvestment burden: capital expenditures were just 1.1% of revenue, alongside free cash flow of $224.7M. That cash profile coexists with a liability-heavy structure, with liabilities at 62.1% of assets and total liabilities equal to 2.0x equity.

Financial Health Signals

Financial Health Score 56/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Pagaya Technologies Ltd.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Pagaya Technologies Ltd. has an operating margin of 20.3%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 69/100, reflecting efficient cost management and pricing power. This is up from 6.5% the prior year.

Growth

Pagaya Technologies Ltd.'s revenue surged 26.1% year-over-year to $1.3B, reflecting rapid business expansion. This strong growth earns a score of 87/100.

Leverage

Liquidity

Cash Flow

Pagaya Technologies Ltd. has a free cash flow margin of 17.3%, earning a moderate score of 61/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Pagaya Technologies Ltd.'s ROE of 17.0% shows moderate profitability relative to equity, earning a score of 32/100. This is up from -123.0% the prior year.

Piotroski F-Score Partial

6/6

Pagaya Technologies Ltd. passes 6 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.93x

For every $1 of reported earnings, Pagaya Technologies Ltd. generates $2.93 in operating cash flow ($238.6M OCF vs $81.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$387.0M

YoY+18.6%

QoQ+21.7%

Pagaya Technologies Ltd. generated $387.0M in revenue in Q2 2026. This represents an increase of 18.6% from the same quarter a year earlier. Against the prior quarter it is up 21.7%.

EBITDA

$109.7M

YoY+71.3%

QoQ+30.8%

Pagaya Technologies Ltd.'s EBITDA was $109.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 71.3% from the same quarter a year earlier. Against the prior quarter it is up 30.8%.

Net Income

$45.3M

YoY+171.8%

QoQ+83.3%

Pagaya Technologies Ltd. reported $45.3M in net income in Q2 2026. This represents an increase of 171.8% from the same quarter a year earlier. Against the prior quarter it is up 83.3%.

EPS (Diluted)

$0.49

YoY+145.0%

QoQ+75.0%

Pagaya Technologies Ltd. earned $0.49 per diluted share (EPS) in Q2 2026. This represents an increase of 145.0% from the same quarter a year earlier. Against the prior quarter it is up 75.0%.

Cash & Balance Sheet

Free Cash Flow

$71.3M

YoY+33.1%

QoQ+78.1%

Pagaya Technologies Ltd. generated $71.3M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 33.1% from the same quarter a year earlier. Against the prior quarter it is up 78.1%.

Cash & Debt

$249.3M

YoY+36.2%

QoQ-21.6%

Pagaya Technologies Ltd. held $249.3M in cash as of Q2 2026; no long-term debt figure is on record for that period.

Shares Outstanding

Diluted avg 97M

Pagaya Technologies Ltd. had a weighted average of 97M diluted shares in Q2 2026; the shares outstanding count is not reported for that period.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

43.5%

YoY+2.2pp

QoQ-0.7pp

Pagaya Technologies Ltd.'s gross margin was 43.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 2.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.

Operating Margin

27.3%

YoY+10.0pp

QoQ+2.2pp

Pagaya Technologies Ltd.'s operating margin was 27.3% in Q2 2026, reflecting core business profitability. This is up 10.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.2 percentage points.

Net Margin

11.7%

YoY+6.6pp

QoQ+3.9pp

Pagaya Technologies Ltd.'s net profit margin was 11.7% in Q2 2026, showing the share of revenue converted to profit. This is up 6.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.9 percentage points.

Return on Equity

7.6%

YoY+3.1pp

QoQ+3.0pp

Pagaya Technologies Ltd.'s quarterly ROE was 7.6% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 3.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.0 percentage points.

Capital Allocation

R&D Spending

$17.3M

YoY-6.0%

QoQ+8.8%

Pagaya Technologies Ltd. invested $17.3M in research and development in Q2 2026. This represents a decrease of 6.0% from the same quarter a year earlier. Against the prior quarter it is up 8.8%.

Capital Expenditures

$3.4M

YoY-9.2%

QoQ+8.6%

Pagaya Technologies Ltd. invested $3.4M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 9.2% from the same quarter a year earlier. Against the prior quarter it is up 8.6%.

Share Buybacks

Not reported for Q2 2026.

PGY Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PGY quarterly income statement

Metric	TTM	FY2510-K/A	FY2410-K/A	FY2310-K/A	FY2210-K	FY2110-K	FY2010-K
Revenue	$1.4B	$1.3B+26.1%	$1.0B+27.1%	$812.1M+8.4%	$748.9M+57.8%	$474.6M+379.3%	$99.0M
Cost of Revenue	$786.9M	$749.2M+25.4%	$597.7M+17.4%	$508.9M+12.8%	$451.1M+94.2%	$232.3M+373.3%	$49.1M
Gross Profit	$603.1M	$552.2M+27.1%	$434.6M+43.4%	$303.1M+1.8%	$297.8M+22.9%	$242.3M+385.3%	$49.9M
R&D Expenses	$70.6M	$75.2M-1.8%	$76.6M+2.9%	$74.4M-50.7%	$150.9M+128.0%	$66.2M+436.9%	$12.3M
SG&A Expenses	$187.0M	$213.2M-26.8%	$291.2M+15.0%	$253.1M-36.5%	$398.4M+119.1%	$181.9M+1013.0%	$16.3M
Operating Income	$345.5M	$263.8M+294.7%	$66.8Mn/m	-$24.4Mn/m	-$251.5Mn/m	-$5.8M-127.3%	$21.3M
EBITDA	N/A	$293.9M+207.5%	$95.6Mn/m	-$5.3Mn/m	-$245.2Mn/m	-$5.0M-123.2%	$21.5M
Income Tax	-$20.1M	-$19.7M-180.3%	$24.6M+57.8%	$15.6M-5.1%	$16.4M+108.3%	$7.9M+517.2%	$1.3M
Net Income	$126.8M	$81.4Mn/m	-$401.4Mn/m	-$128.4Mn/m	-$302.3Mn/m	-$91.2M-729.9%	$14.5M
EPS (Basic)	N/A	$0.99n/m	-$5.66n/m	-$2.14	-$8.22	-$8.25	$0.03
EPS (Diluted)	$1.38	$0.93n/m	-$5.66n/m	-$2.14	-$8.22	-$8.25	$0.02
Diluted Shares (Avg)	N/A	83M+17.2%	71M+18.1%	60M	38M	16M	207M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K/A	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K/A	Q3'2410-Q
Revenue	$387.0M+18.6%	$317.9M+9.6%	$334.8M+19.8%	$350.2M+36.1%	$326.4M+30.4%	$290.0M+18.2%	$279.4M+28.1%	$257.2M+21.5%
Cost of Revenue	$218.7M+14.2%	$177.6M+6.3%	$190.0M+20.1%	$200.6M+34.6%	$191.5M+31.5%	$167.1M+15.3%	$158.2M+17.6%	$149.0M+15.7%
Gross Profit	$168.3M+24.7%	$140.4M+14.2%	$144.8M+19.4%	$149.6M+38.2%	$134.9M+28.8%	$122.9M+22.4%	$121.2M+45.0%	$108.3M+30.5%
R&D Expenses	$17.3M-6.0%	$15.9M-18.0%	$19.1M+2.6%	$18.2M+9.5%	$18.5M-15.9%	$19.4M+0.3%	$18.6M+6.0%	$16.7M-7.7%
SG&A Expenses	$45.2M-24.7%	$44.4M-20.3%	$46.0M-35.1%	$51.4M-25.8%	$60.0M-22.8%	$55.8M-23.9%	$70.8M+28.0%	$69.2M+6.9%
Operating Income	$105.8M+87.4%	$80.0M+67.8%	$79.7M+151.2%	$80.0M+257.2%	$56.5M+1023.3%	$47.7M+520.1%	$31.7M+198.0%	$22.4M+13717.3%
EBITDA	$109.7M+71.3%	$83.9M+51.4%	$86.8M+117.0%	$87.6M+196.9%	$64.1M+430.8%	$55.4M+295.6%	$40.0M+140.8%	$29.5M+452.5%
Income Tax	-$1.1M-121.9%	$3.1Mn/m	-$7.0M-142.0%	-$15.2Mn/m	$5.0M-65.7%	-$2.5M-150.8%	$16.6M+228.0%	-$11.5Mn/m
Net Income	$45.3M+171.8%	$24.7M+212.9%	$34.3Mn/m	$22.5Mn/m	$16.7Mn/m	$7.9Mn/m	-$237.9Mn/m	-$67.5Mn/m
EPS (Basic)	$0.53+165.0%	$0.29+190.0%	$0.42n/m	$0.27n/m	$0.20n/m	$0.10n/m	-$3.31n/m	-$0.93n/m
EPS (Diluted)	$0.49+145.0%	$0.28+180.0%	$0.38n/m	$0.23n/m	$0.20n/m	$0.10n/m	-$3.31n/m	-$0.93n/m
Diluted Shares (Avg)	97M+22.1%	97M+25.6%	N/A	91M+25.2%	80M+11.0%	77M+19.4%	N/A	73M+19.8%

Not reported in any period shown, so not listed: Interest Expense.

PGY Balance Sheet

PGY quarterly balance sheet

Metric	FY2510-K/A	FY2410-K/A	FY2310-K/A	FY2210-K	FY2110-K	FY2010-K
Total Assets	$1.5B+19.7%	$1.3B+6.8%	$1.2B+15.6%	$1.0B+77.1%	$590.3M	N/A
Current Assets	N/A	$351.5M+15.8%	$303.4M-27.7%	$419.8M+70.3%	$246.5M	N/A
Cash & Equivalents	$235.3M+25.2%	$187.9M+0.8%	$186.5M-39.8%	$309.8M+62.4%	$190.8M+3665.9%	$5.1M
Short-Term Investments	$0-100.0%	$22.1M+787.0%	$2.5M+147.3%	$1.0M-80.4%	$5.1Mn/m	$0
Long-Term Investments	$0-100.0%	$756.3Mn/m	$0n/m	$0n/m	$0n/m	$0
Goodwill	$22.9M-0.7%	$23.1M+110.7%	$10.9Mn/m	$0	N/A	N/A
Total Liabilities	$960.5M+23.9%	$775.3M+65.5%	$468.4M-4.7%	$491.6M-16.5%	$589.0M	N/A
Current Liabilities	N/A	$195.5M+160.9%	$74.9M-41.5%	$128.0M+346.5%	$28.7M	N/A
Non-Current Liabilities	N/A	$579.8M+47.4%	$393.5M+159.5%	$151.6M+96.5%	$77.2M	N/A
Long-Term Debt	N/A	$321.3M	N/A	N/A	N/A	N/A
Total Equity	$480.0M+47.0%	$326.5M-41.7%	$559.7M+1.1%	$553.5M+42742.1%	$1.3M	N/A
Retained Earnings	-$862.7Mn/m	-$944.0Mn/m	-$542.6Mn/m	-$414.2Mn/m	-$111.9M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K/A	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K/A	Q3'2410-Q
Total Assets	$1.7B+21.0%	$1.6B+29.0%	$1.5B+19.7%	$1.5B+6.2%	$1.4B-3.7%	$1.3B-13.8%	$1.3B+6.8%	$1.4B
Current Assets	N/A	N/A	N/A	N/A	$362.5M+0.4%	$355.6M-10.9%	$351.5M+15.8%	$298.5M
Cash & Equivalents	$249.3M+36.2%	$317.8M+70.1%	$235.3M+25.2%	$218.3M+48.4%	$183.0M-21.7%	$186.8M-31.9%	$187.9M+0.8%	$147.1M-41.8%
Short-Term Investments	$0-100.0%	$0-100.0%	$0-100.0%	$0-100.0%	$21.5M+1194.0%	$19.7M+1415.0%	$22.1M+787.0%	$11.3Mn/m
Long-Term Investments	$0-100.0%	$0-100.0%	$0-100.0%	$0n/m	$848.5Mn/m	$740.8Mn/m	$756.3Mn/m	$0n/m
Goodwill	$22.9M0.0%	$22.9M0.0%	$22.9M-0.7%	$22.9M+109.3%	$22.9M+109.3%	$22.9M+109.3%	$23.1M+110.7%	$10.9M
Total Liabilities	$1.0B+18.4%	$1.0B+33.5%	$960.5M+23.9%	$889.4M+18.0%	$856.8M+12.3%	$763.3M+11.8%	$775.3M+65.5%	$753.8M
Current Liabilities	N/A	N/A	N/A	N/A	$254.5M+5.5%	$198.7M+17.3%	$195.5M+160.9%	$254.5M
Non-Current Liabilities	N/A	N/A	N/A	N/A	$602.3M+15.4%	$564.6M+9.9%	$579.8M+47.4%	$499.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$317.9M+35.3%	$321.3M	$230.2M
Total Equity	$594.2M+62.0%	$529.3M+57.8%	$480.0M+47.0%	$438.3M-5.2%	$366.8M-30.3%	$335.5M-46.5%	$326.5M-41.7%	$462.3M
Retained Earnings	-$792.7Mn/m	-$838.0Mn/m	-$862.7Mn/m	-$897.0Mn/m	-$919.5Mn/m	-$936.1Mn/m	-$944.0Mn/m	-$706.1M

Not reported in any period shown, so not listed: Inventory, Accounts Receivable.

PGY Cash Flow Statement

PGY quarterly cash flow statement

Metric	TTM	FY2510-K/A	FY2410-K/A	FY2310-K/A	FY2210-K	FY2110-K	FY2010-K
Operating Cash Flow	$264.7M	$238.6M+399.7%	$47.8Mn/m	-$21.7Mn/m	-$40.0M-180.3%	$49.8M+1070.1%	$4.3M
Depreciation & Amortization	N/A	$30.1M+4.6%	$28.8M+50.3%	$19.1M+203.9%	$6.3M+672.3%	$815K+181.0%	$290K
Stock-Based Compensation	N/A	$54.1M-12.0%	$61.5M-13.5%	$71.1M-70.6%	$241.7M+256.6%	$67.8M+43351.9%	$156K
Capital Expenditures	$13.0M	$13.9M-21.6%	$17.7M-12.1%	$20.2M-9.9%	$22.4M+238.3%	$6.6M+503.8%	$1.1M
Free Cash Flow	$251.8M	$224.7M+648.7%	$30.0Mn/m	-$41.8Mn/m	-$62.4M-244.5%	$43.2M+1266.7%	$3.2M
Investing Cash Flow	-$292.4M	-$309.7Mn/m	-$479.9Mn/m	-$381.5Mn/m	-$265.4Mn/m	-$140.7Mn/m	-$122.8M
Financing Cash Flow	$85.9M	$129.6M-70.3%	$436.7M+51.1%	$289.1M-34.0%	$437.9M+51.2%	$289.6M+142.4%	$119.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$23.6M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K/A	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K/A	Q3'2410-Q
Operating Cash Flow	$74.7M+30.3%	$43.2M+25.4%	$79.8M+186.5%	$67.0Mn/m	$57.4M+517.0%	$34.4M+94.4%	$27.9Mn/m	-$7.1M-144.0%
Depreciation & Amortization	$3.9M-48.4%	$3.9M-50.0%	$7.1M-13.9%	$7.6M+7.3%	$7.6M+7.8%	$7.7M+22.2%	$8.3M+38.8%	$7.1M+37.5%
Stock-Based Compensation	$8.6M-53.0%	$7.2M-45.4%	N/A	$13.6M+10.1%	$18.2M+1.0%	$13.2M-14.9%	N/A	$12.3M-40.5%
Capital Expenditures	$3.4M-9.2%	$3.2M-15.9%	$3.1M-22.4%	$3.2M-23.5%	$3.8M-13.2%	$3.8M-26.6%	$4.0M-14.2%	$4.2M-16.3%
Free Cash Flow	$71.3M+33.1%	$40.0M+30.5%	$76.7M+221.3%	$63.8Mn/m	$53.5M+989.5%	$30.7M+144.0%	$23.9Mn/m	-$11.3M-202.4%
Investing Cash Flow	-$118.9Mn/m	-$15.9Mn/m	-$100.2Mn/m	-$57.3Mn/m	-$125.3Mn/m	-$26.9Mn/m	-$31.8Mn/m	-$105.8Mn/m
Financing Cash Flow	-$33.3M-142.4%	$64.2Mn/m	$42.7M-12.5%	$12.3M-51.9%	$78.4M+23.1%	-$3.8M-101.3%	$48.8M+295.5%	$25.5M-59.8%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

PGY Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PGY quarterly financial ratios

Metric	FY2510-K/A	FY2410-K/A	FY2310-K/A	FY2210-K	FY2110-K	FY2010-K
Gross Margin	42.4%+0.3pp	42.1%+4.8pp	37.3%-2.4pp	39.8%-11.3pp	51.0%+0.6pp	50.4%
Operating Margin	20.3%+13.8pp	6.5%+9.5pp	-3.0%+30.6pp	-33.6%-32.4pp	-1.2%-22.7pp	21.5%
Net Margin	6.3%+45.1pp	-38.9%-23.1pp	-15.8%+24.6pp	-40.4%-21.2pp	-19.2%-33.8pp	14.6%
Return on Equity	17.0%+139.9pp	-123.0%-100.0pp	-22.9%+31.7pp	-54.6%+7000.4pp	-7055.0%	N/A
Return on Assets	5.3%+36.4pp	-31.1%-20.5pp	-10.6%+18.3pp	-28.9%-13.5pp	-15.4%	N/A
Current Ratio	N/A	1.80-2.3x	4.05+0.8x	3.28-5.3x	8.60	N/A
Debt-to-Equity	N/A	0.98	N/A	N/A	N/A	N/A
Liabilities-to-Equity	2.00-0.4x	2.37+1.5x	0.84-0.1x	0.89-455.0x	455.86	N/A
Asset Turnover	0.840.0x	0.80+0.1x	0.670.0x	0.72-0.1x	0.80	N/A
FCF Margin	17.3%+14.4pp	2.9%+8.1pp	-5.1%+3.2pp	-8.3%-17.4pp	9.1%+5.9pp	3.2%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K/A	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K/A	Q3'2410-Q
Gross Margin	43.5%+2.2pp	44.1%+1.8pp	43.2%-0.1pp	42.7%+0.6pp	41.3%-0.5pp	42.4%+1.5pp	43.4%+5.1pp	42.1%+2.9pp
Operating Margin	27.3%+10.0pp	25.2%+8.7pp	23.8%+12.4pp	22.8%+14.1pp	17.3%+15.3pp	16.4%+13.3pp	11.4%+6.5pp	8.7%+8.6pp
Net Margin	11.7%+6.6pp	7.8%+5.1pp	10.2%+95.4pp	6.4%+32.7pp	5.1%+35.0pp	2.7%+11.4pp	-85.2%-78.5pp	-26.2%-16.0pp
Return on Equity	7.6%+3.1pp	4.7%+2.3pp	7.1%+80.0pp	5.1%+19.7pp	4.5%+18.8pp	2.4%+5.7pp	-72.9%-70.3pp	-14.6%
Return on Assets	2.7%+1.5pp	1.5%+0.9pp	2.2%+20.6pp	1.6%+6.5pp	1.2%+6.3pp	0.6%+2.1pp	-18.4%-17.2pp	-4.9%
Current Ratio	N/A	N/A	N/A	N/A	1.42-0.1x	1.79-0.6x	1.80-2.3x	1.17
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	0.95+0.6x	0.98	0.50
Liabilities-to-Equity	1.71-0.6x	1.93-0.3x	2.00-0.4x	2.03+0.4x	2.34+0.9x	2.28+1.2x	2.37+1.5x	1.63
Asset Turnover	0.230.0x	0.190.0x	0.220.0x	0.24+0.1x	0.23+0.1x	0.23+0.1x	0.220.0x	0.19
FCF Margin	18.4%+2.0pp	12.6%+2.0pp	22.9%+14.4pp	18.2%+22.6pp	16.4%+14.4pp	10.6%+5.5pp	8.6%+16.3pp	-4.4%-9.6pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Pagaya Technologies Ltd. PGY	FY2025	$1.3B	$81.4M	6.3%	$1.7B	56/100
Marqeta, Inc. MQ	FY2025	$624.9M	-$13.9M	-2.2%	$1.9B	41/100
AvePoint, Inc. AVPT	FY2025	$419.5M	$34.8M	8.3%	$3.6B	61/100
Payoneer Global Inc. PAYO	FY2025	$1.1B	$73.2M	7.0%	$2.4B	50/100
Appian Corporation APPN	FY2025	$726.9M	$1.2M	0.2%	$3.7B	31/100

Where Pagaya Technologies Ltd. Ranks

Frequently Asked Questions

What is Pagaya Technologies Ltd.'s annual revenue?

Pagaya Technologies Ltd. (PGY) reported $1.3B in total revenue for fiscal year 2025. This represents a 26.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Pagaya Technologies Ltd.'s revenue growing?

Pagaya Technologies Ltd. (PGY) revenue grew by 26.1% year-over-year, from $1.0B to $1.3B in fiscal year 2025.

Is Pagaya Technologies Ltd. profitable?

Yes, Pagaya Technologies Ltd. (PGY) reported a net income of $126.8M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $81.4M, with a net profit margin of 6.3%.

What is Pagaya Technologies Ltd.'s EBITDA?

Pagaya Technologies Ltd. (PGY) had EBITDA of $293.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Pagaya Technologies Ltd.'s gross margin?

Pagaya Technologies Ltd. (PGY) had a gross margin of 42.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Pagaya Technologies Ltd.'s operating margin?

Pagaya Technologies Ltd. (PGY) had an operating margin of 20.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Pagaya Technologies Ltd.'s net profit margin?

Pagaya Technologies Ltd. (PGY) had a net profit margin of 6.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Pagaya Technologies Ltd.'s return on equity (ROE)?

Pagaya Technologies Ltd. (PGY) has a return on equity of 17.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Pagaya Technologies Ltd.'s free cash flow?

Pagaya Technologies Ltd. (PGY) generated $224.7M in free cash flow during fiscal year 2025. This represents a 648.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Pagaya Technologies Ltd.'s operating cash flow?

Pagaya Technologies Ltd. (PGY) generated $238.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Pagaya Technologies Ltd.'s total assets?

Pagaya Technologies Ltd. (PGY) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Pagaya Technologies Ltd.'s capital expenditures?

Pagaya Technologies Ltd. (PGY) invested $13.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Pagaya Technologies Ltd. spend on research and development?

Pagaya Technologies Ltd. (PGY) invested $75.2M in research and development during fiscal year 2025.

What is Pagaya Technologies Ltd.'s liabilities-to-equity ratio?

Pagaya Technologies Ltd. (PGY) had a liabilities-to-equity ratio of 2.00 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.

What is Pagaya Technologies Ltd.'s return on assets (ROA)?

Pagaya Technologies Ltd. (PGY) had a return on assets of 5.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Pagaya Technologies Ltd.'s P/E ratio?

Pagaya Technologies Ltd. (PGY) trades at 13.5x earnings, its market capitalization divided by $126.8M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.7B as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Pagaya Technologies Ltd.'s price-to-sales ratio?

Pagaya Technologies Ltd. (PGY) trades at 1.2x sales, its market capitalization divided by $1.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.7B as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Pagaya Technologies Ltd.'s Piotroski F-Score?

Pagaya Technologies Ltd. (PGY) has a Piotroski F-Score of 6 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pagaya Technologies Ltd.'s earnings high quality?

Pagaya Technologies Ltd. (PGY) has an earnings quality ratio of 2.93x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Pagaya Technologies Ltd.?

Pagaya Technologies Ltd. (PGY) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.