Pagaya Technologies Ltd. financials
Source: EDGAR filings · Built 2026-06-02T03:49:13Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 | FY 2022 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 224.72M | 30.01M | -41.85M | -62.41M | 43.19M | 3.16M |
| EBITDA | 293.90M | 95.59M | -5.27M | -245.21M | -4.99M | 21.54M |
| Working Capital | — | 155.99M | 228.48M | 291.80M | 217.86M | — |
| Net Debt | -7.22M | 316.80M | -97.92M | -190.34M | -190.78M | — |
| Gross Margin | 40.61% | 40.51% | 34.14% | 34.19% | 47.89% | 46.50% |
| Operating Margin | 20.92% | 6.65% | -3.16% | -36.69% | -1.30% | 23.17% |
| Net Margin | 6.45% | -39.96% | -16.62% | -44.11% | -20.44% | 15.77% |
| Return on Equity (ROE) | 16.96% | -122.95% | -22.95% | -54.62% | -7055.03% | 16.42% |
| Return on Assets (ROA) | 5.26% | -31.09% | -10.63% | -28.93% | -15.44% | — |
| Current Ratio | — | 1.80× | 4.05× | 3.28× | 8.60× | — |
| Debt-to-Equity | 0.48× | 1.55× | 0.16× | 0.22× | 0.00× | — |
| Effective Tax Rate | -38.25% | -5.84% | -8.59% | -5.93% | -12.77% | 6.02% |
| Cash Conversion Ratio | 2.93× | -0.12× | 0.17× | 0.13× | -0.55× | 0.29× |
| Accruals Ratio | -0.10× | -0.35× | -0.09× | -0.25× | -0.24× | — |
| SBC % of Revenue | 4.29% | 6.12% | 9.19% | 35.26% | 15.20% | 0.17% |
| CapEx Coverage | 17.16× | 2.69× | -1.07× | -1.79× | 7.52× | 3.88× |
| Free Cash Flow Per Share | $2.70 | $0.42 | $-0.70 | $-1.63 | $2.65 | $0.02 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 | FY 2022 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 22.47× | — | — | — | — | — |
| P/FCF | 7.73× | 21.94× | — | — | 44.91× | — |
| FCF Yield | 12.94% | 4.56% | — | — | 2.23% | — |
| EV / EBITDA | 5.88× | 10.20× | — | — | — | — |
| P/S | 1.38× | 0.66× | 0.11× | 0.07× | 0.36× | — |
| P/B | 3.62× | 2.02× | 0.15× | 0.09× | 125.09× | — |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 | FY 2022 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 1.26B | 1.00B | 772.81M | 685.41M | 445.87M | 91.74M |
| Revenues | 1.30B | 1.03B | 812.05M | 748.93M | 474.59M | 99.01M |
| Cost of Goods and Services Sold | 749.17M | 597.65M | 508.94M | 451.08M | 232.32M | 49.09M |
| Research and Development Expense | 75.21M | 76.57M | 74.38M | 150.93M | 66.21M | 12.33M |
| Operating Income (Loss) | 263.83M | 66.84M | -24.40M | -251.50M | -5.81M | 21.25M |
| Income Tax Expense (Benefit) | -19.75M | 24.58M | 15.57M | 16.40M | 7.88M | 1.28M |
| Net Income (Loss) Attributable to Parent | 81.39M | -401.41M | -128.44M | -302.32M | -91.15M | 14.47M |
| Earnings Per Share, Basic | $0.99 | $-5.66 | $-2.14 | $-8.22 | $-8.25 | $0.03 |
| Weighted Average Number of Shares Outstanding, Basic | 78.34M | 70.88M | 60.04M | 38.25M | 16.28M | 191.15M |
| Earnings Per Share, Diluted | $0.93 | $-5.66 | $-2.14 | $-8.22 | $-8.25 | $0.02 |
| Weighted Average Number of Shares Outstanding, Diluted | 83.10M | 70.88M | 60.04M | 38.25M | 16.28M | 206.92M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 | FY 2022 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 235.33M | 187.92M | 186.48M | 309.79M | 190.78M | 5.07M |
| Assets, Current | — | 351.48M | 303.40M | 419.82M | 246.53M | — |
| Assets | 1.55B | 1.29B | 1.21B | 1.05B | 590.26M | — |
| Long-term Debt | — | 321.32M | — | — | — | — |
| Liabilities, Current | — | 195.49M | 74.92M | 128.02M | 28.67M | — |
| Liabilities | 960.46M | 775.28M | 468.38M | 279.66M | 105.86M | — |
| Stockholders' Equity Attributable to Parent | 480.02M | 326.49M | 559.72M | 553.52M | 1.29M | — |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 | FY 2022 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 238.62M | 47.75M | -21.66M | -40.00M | 49.81M | 4.26M |
| Payments to Acquire Property, Plant, and Equipment | 13.90M | 17.74M | 20.19M | 22.41M | 6.62M | 1.10M |
| Net Cash Provided by (Used in) Investing Activities | -309.71M | -479.88M | -381.46M | -265.42M | -140.74M | -122.76M |
| Net Cash Provided by (Used in) Financing Activities | 129.60M | 436.69M | 289.10M | 437.92M | 289.62M | 119.50M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 40.01M | 76.71M | 148.01M | 84.20M | 30.65M | 23.88M |
| EBITDA | 83.87M | 86.84M | — | — | 55.41M | 40.02M |
| Working Capital | — | — | — | 108.00M | 156.87M | 155.99M |
| Net Debt | -21.08M | -7.22M | -35.21M | 315.17M | 313.19M | 316.80M |
| Gross Margin | 40.61% | 40.80% | 40.99% | 39.74% | 40.90% | 42.61% |
| Operating Margin | 26.76% | 24.83% | 23.52% | 17.77% | 16.87% | 11.51% |
| Net Margin | 8.26% | 10.68% | 6.63% | 5.24% | 2.79% | -86.31% |
| Return on Equity (ROE) | 4.67% | 7.14% | 5.14% | 4.54% | 2.35% | -72.87% |
| Return on Assets (ROA) | 1.50% | 2.22% | 1.55% | 1.19% | 0.62% | -18.43% |
| Current Ratio | — | — | — | 1.42× | 1.79× | 1.80× |
| Debt-to-Equity | 0.56× | 0.48× | 0.42× | 1.36× | 1.49× | 1.55× |
| Effective Tax Rate | 11.53% | -31.60% | -188.64% | 23.11% | 5291.67% | -6.89% |
| Cash Conversion Ratio | 1.75× | 2.33× | 7.04× | 5.51× | 4.36× | -0.12× |
| Accruals Ratio | -0.01× | -0.03× | -0.09× | -0.05× | -0.02× | -0.21× |
| SBC % of Revenue | 2.41% | 2.85% | 13.23% | 9.88% | 4.66% | 5.68% |
| CapEx Coverage | 13.60× | 25.86× | 14.68× | 12.11× | 9.12× | 7.01× |
| Free Cash Flow Per Share | $0.41 | $0.92 | $1.63 | $1.06 | $0.40 | $0.34 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 10.69× | 22.97× | — | — | — | — |
| P/S | 0.88× | 1.38× | 2.22× | 1.51× | 0.77× | 0.66× |
| P/B | 2.13× | 3.62× | 6.17× | 4.63× | 2.41× | 2.02× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 298.99M | 321.04M | 339.89M | 317.71M | 282.70M | 275.67M |
| Revenues | 317.94M | 334.81M | 350.17M | 326.40M | 289.99M | 279.39M |
| Cost of Goods and Services Sold | 177.56M | 190.05M | 200.57M | 191.47M | 167.08M | 158.20M |
| Research and Development Expense | 15.94M | 19.08M | 18.24M | 18.45M | 19.44M | 18.60M |
| Operating Income (Loss) | 80.00M | 79.72M | 79.96M | 56.47M | 47.69M | 31.74M |
| Income Tax Expense (Benefit) | 3.15M | -6.97M | -15.21M | 4.98M | -2.54M | 16.59M |
| Net Income (Loss) Attributable to Parent | 24.69M | 34.30M | 22.55M | 16.66M | 7.89M | -237.92M |
| Earnings Per Share, Basic | $0.29 | $0.42 | $0.27 | $0.20 | $0.10 | $-3.31 |
| Weighted Average Number of Shares Outstanding, Basic | 82.72M | 78.34M | 78.54M | 76.87M | 75.77M | 70.88M |
| Earnings Per Share, Diluted | $0.28 | $0.38 | $0.23 | $0.20 | $0.10 | $-3.31 |
| Weighted Average Number of Shares Outstanding, Diluted | 96.75M | 83.10M | 91.05M | 79.67M | 77.04M | 70.88M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 317.81M | 235.33M | 218.31M | 182.99M | 186.80M | 187.92M |
| Assets, Current | — | — | — | 362.47M | 355.56M | 351.48M |
| Assets | 1.65B | 1.55B | 1.46B | 1.40B | 1.28B | 1.29B |
| Long-term Debt | — | — | — | — | 317.92M | 321.32M |
| Liabilities, Current | — | — | — | 254.47M | 198.69M | 195.49M |
| Liabilities | 1.02B | 960.46M | 889.44M | 856.81M | 763.31M | 775.28M |
| Stockholders' Equity Attributable to Parent | 529.31M | 480.02M | 438.30M | 366.75M | 335.49M | 326.49M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 43.18M | 79.80M | 158.82M | 91.78M | 34.43M | 27.85M |
| Payments to Acquire Property, Plant, and Equipment | 3.18M | 3.09M | 10.82M | 7.58M | 3.78M | 3.98M |
| Net Cash Provided by (Used in) Investing Activities | -15.92M | -100.18M | -209.53M | -152.19M | -26.89M | -31.76M |
| Net Cash Provided by (Used in) Financing Activities | 64.23M | 42.69M | 86.91M | 74.65M | -3.78M | 48.78M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (PGY CIK 0001883085),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
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statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
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For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.