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Pagaya Technologies Ltd. PGY R2K

Technology · Software - Infrastructure · United States
https://pagaya.com

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial services, their customers, and institutional or sophisticated investors in the United States, Israel, and the Cayman Islands. The company offers Decline Monetization, the flagship product which allows Partners to automatically send rejected loan applications to its network, as well as approve customers they would otherwise decline; Dual Look which allows to assess applications concurrently with its Partners in real time; and First Look that routes designated segments of loan applications to the network for evaluation.It also provides Affiliate Optimizer Engine, a customer acquisition tool which enables Partners to originate loans through third-party affiliate channels; Direct Marketing Engine, that utilizes data network to help Partners target and acquire new customers through direct channels; and FastPass which accelerates the transaction process. Its partners include financial technology companies, incumbent banks and financial institutions, auto finance providers, and residential real estate service providers. The company was founded in 2016 and is headquartered in New York, New York.

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$15.12
-8.03% 1Y

Market & Price

Market Cap
$1.25B
Current Price
$15.12
High / Low (52W)
$43.81 / $10.64
Beta
5.44

Valuation

Stock P/E
13.50
Industry PE
32.74
Forward P/E
4.27
PEG Ratio
0.04
Book Value
$6.39
Price to Book
2.36
P/S
0.94
EV/EBITDA
3.38
Dividend Yield
-

Profitability & Returns

ROCE
15.82%
ROE
16.26%
ROA
12.65%
Profit Margin
7.39%
Op Margin
25.16%
EPS (Latest Qtr)
$0.29
EPS (TTM)
$1.12

Balance Sheet & Liquidity

Debt/Equity
1.47
Quick Ratio
7.00
Current Ratio
7.30
Debt
$928.00M
Total Assets
$1.55B
Current Assets
$1.45B
Working Capital
$1.32B

Ownership

Promoter Holding
12.08%
Chg in Prom Hold
-
FII / Inst Holding
54.21%
Chg in FII Hold
0.06%

Financial Snapshot

Enterprise Value
$1.02B
Total Revenue (TTM)
$1.33B
EBITDA
$302.46M
Free Cash Flow
$185.51M
Operating Cash Flow
$247.38M
Shares Outstanding
71.58M
Gross Margin
42.85%
Payout Ratio
0.00%

Growth (CAGR)

Revenue 5Y
22.54%
Profit 5Y
42.31%
Revenue (YoY)
9.60%
Earnings (YoY)
183.80%

PROS

  • Compounding revenue at 22.5% over 5 years.
  • Profit CAGR of 42.3% over 5 years.
  • Generates positive free cash flow.

CONS

  • Trading 65.5% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 PGY Pagaya Technologies Ltd. R2K 15.12 13.50 $1.25B - 15.82% 16.26% 22.54% 42.31%
2 NVDA NVIDIA Corporation NDXSPXAI 211.14 32.38 $5.11T 0.47% 81.14% 114.29% 100.05% 201.80%
3 AAPL Apple Inc. NDXSPX 312.06 37.73 $4.58T 0.35% 68.72% 141.47% 1.81% 3.92%
4 MSFT Microsoft Corporation NDXSPXAI 450.24 26.82 $3.34T 0.81% 26.37% 34.01% 12.42% 11.87%
5 TSM Taiwan Semiconductor Manufacturing Company Limited AI 418.45 35.86 $2.17T 0.91% 32.04% 36.21% 18.94% 19.57%
6 MU Micron Technology, Inc. NDXSPXAI 971.00 45.87 $1.10T 0.06% 14.20% 39.82% 6.71% -0.57%
7 AMD Advanced Micro Devices, Inc. NDXSPXAI 516.10 172.61 $841.55B - 6.33% 8.06% 13.64% 48.64%
8 ORCL Oracle Corporation SPXAI 225.78 40.46 $649.35B 0.89% 13.07% 57.57% 10.59% 22.81%
9 ASML ASML Holding N.V. NDXAI 1,612.76 53.76 $621.59B 0.54% 43.81% 52.24% 15.55% 19.55%
Ad space

Quarterly Results

Figures in USD.

Metric Sep 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue -282.70M317.71M339.89M321.04M298.99M
Cost of Revenue -167.08M191.47M200.57M190.05M177.56M
Gross Profit -115.62M126.25M139.31M130.99M121.43M
Operating Expenses -75.22M78.46M69.63M65.05M60.38M
Operating Income -40.40M47.78M69.68M65.94M61.05M
EBITDA -48.12M55.38M77.32M73.07M64.91M
Interest Expense ------
Pretax Income --48.00K21.54M8.06M22.07M27.31M
Tax Provision --2.54M4.98M-15.21M-6.97M3.15M
Net Income -7.89M16.66M22.55M34.30M24.69M
Diluted EPS -0.100.200.230.360.29

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue -685.41M772.81M1.00B1.26B
Cost of Revenue -451.08M508.94M597.65M749.17M
Gross Profit -234.33M263.87M406.90M512.17M
Operating Expenses -549.35M327.51M367.76M288.36M
Operating Income --315.02M-63.64M39.14M223.81M
EBITDA --308.73M-44.51M67.89M253.88M
Interest Expense -----
Pretax Income --276.37M-181.17M-421.12M51.62M
Tax Provision -16.40M15.57M24.58M-19.75M
Net Income --302.32M-128.44M-401.41M81.39M
Diluted EPS --8.28-2.14-5.660.93

Compounded Sales Growth

5 Years:22.54%
1 Year:9.60%

Compounded Profit Growth

5 Years:42.31%
1 Year:183.80%

Stock Price Performance

1 Year:-8.03%
6 Months:-36.63%
3 Months:+35.12%
1 Month:+17.07%

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets -1.05B1.21B1.29B1.55B
Current Assets -419.82M303.40M1.18B1.45B
Cash & Equivalents -309.79M186.48M187.92M235.33M
Inventory -----
Receivables -59.22M79.53M127.11M153.25M
Total Liabilities -279.66M542.63M849.53M990.56M
Current Liabilities -128.02M74.92M130.63M131.47M
Long Term Debt -92.80M324.03M643.75M824.27M
Total Debt -212.26M412.58M680.81M858.48M
Total Equity -553.52M559.72M326.49M480.02M
Shares Outstanding -56.94M62.04M73.88M82.04M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow --40.00M-21.66M47.75M238.62M
Investing Cash Flow --265.42M-381.46M-479.88M-309.71M
Financing Cash Flow -437.92M289.10M436.69M129.60M
Capital Expenditure --22.41M-20.19M-23.24M-13.90M
Free Cash Flow --62.41M-41.85M24.51M224.72M
Net Change in Cash -132.50M-114.02M4.56M58.51M

Ratios (Annual)

Figures in %.

Metric Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % -34.2%34.1%40.5%40.6%
Operating Margin % --46.0%-8.2%3.9%17.7%
Net Margin % --44.1%-16.6%-40.0%6.5%
ROE % --54.6%-22.9%-122.9%17.0%
ROCE % --34.4%-5.6%3.4%15.8%

Shareholding Pattern

Insiders
12.08%
Institutions
54.21%
Public Float
61.66%

Top Institutional Holders

#Holder% HeldSharesValue
1 Viola Ventures V.c. Management 4 Ltd. 18.37% 98.11M $1.48B
2 Clal Insurance Enterprises Holdings Ltd 4.02% 21.47M $324.61M
3 Millennium Management Llc 1.11% 5.93M $89.72M
4 Nuveen Asset Management, LLC 1.05% 5.59M $84.51M
5 Ejf Capital Llc 1.04% 5.56M $84.00M
6 Blackrock Inc. 0.70% 3.74M $56.52M
7 Morgan Stanley 0.67% 3.60M $54.36M
8 Yarra Square Partners, LP 0.56% 2.97M $44.91M
9 Two Sigma Investments, LP 0.56% 2.97M $44.87M
10 JTC Employer Solutions Trusteee Ltd 0.52% 2.76M $41.76M

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