A Business at a Glance
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Pagaya Technologies Ltd.
PGY
$1.3B
Mkt Cap
$15.89
-2.28%
Pagaya Technologies Ltd. (PGY) has a current P/E ratio of 17.1, compared to its historical median P/E of 23.5. The stock is currently considered Cheap based on its historical valuation range.
Pagaya Technologies Ltd. (PGY) has a 5-year average return on invested capital (ROIC) of -36.0%. This is below average and may indicate limited pricing power.
Pagaya Technologies Ltd. (PGY) has a market capitalization of $1.5B. It is classified as a small-cap stock.
Pagaya Technologies Ltd. (PGY) does not currently pay a regular dividend.
Based on historical P/E analysis, Pagaya Technologies Ltd. (PGY) appears cheap. The current P/E of 17.1 is 27% below its historical median of 23.5.
Pagaya Technologies Ltd. (PGY) operates in the Finance Services industry, within the Financials sector.
Pagaya Technologies Ltd. (PGY) reported annual revenue of $1.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
History and Development of the Company Pagaya Technologies Ltd. was incorporated on March 20, 2016 and is organized under the laws of the State of Israel. We are registered with the Israeli Registrar of Companies, registration number 51-542127-9. In February 2024, Pagaya relocated its corporate headquarters to its current New York City office. The U.S. is where we conduct our business, generate the majority of our revenue, and where all of our Partners and SFR Partners are domiciled. The mailing address of our principal executive office is 335 Madison Ave, New York, NY 10017, telephone number +1 646-710-7714. Our office in Tel-Aviv, Israel is Azrieli Sarona Bldg, 54th Floor, 121 Derech Menachem Begin, Tel-Aviv, 6701203, Israel, telephone number +972 (3) 715 0920. Pagaya was founded with the goal of improving upon legacy underwriting practices in the United States through the use of artificial intelligence (“AI”)-powered technology and data science.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.3B | 1.3B | 1.0B | 812M | 749M | 475M |
| Net Income | 94M | 77M | -401M | -128M | -315M | -134M |
| EPS | $1.11 | $0.93 | $-5.66 | $-2.14 | $-8.22 | $-8.25 |
| Free Cash Flow | 234M | 225M | 30M | -42M | -62M | 43M |
| ROIC | 21.1% | 9.6% | -67.5% | -20.1% | -93.8% | -8.3% |
| Gross Margin | - | 42.4% | 42.1% | 37.3% | 39.8% | 51.0% |
| Debt/Equity | 0.23 | 1.04 | 0.98 | 0.39 | 0.28 | 29.34 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 296M | 264M | 67M | -24M | -252M | -62M |
| Operating Margin | 22.3% | 20.3% | 6.5% | -3.0% | -33.6% | -13.0% |
| ROE | 17.8% | 19.2% | -90.6% | -23.1% | -113.4% | -300.4% |
| Shares Outstanding | 97M | 83M | 71M | 60M | 38M | 16M |
| Metric | |||||||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 99M | 475M | 749M | 812M | 1.0B | 1.3B | 1.3B |
| Gross Margin | 50.4% | 51.0% | 39.8% | 37.3% | 42.1% | 42.4% | N/A |
| R&D | 12M | 66M | 151M | 74M | 77M | 75M | 72M |
| SG&A | 11M | 132M | 294M | 203M | 241M | 160M | 147M |
| EBIT | 21M | -62M | -252M | -24M | 67M | 264M | 296M |
| Op. Margin | 21.5% | -13.0% | -33.6% | -3.0% | 6.5% | 20.3% | 22.3% |
| Net Income | 4.9M | -134M | -315M | -128M | -401M | 77M | 94M |
| Net Margin | 5.0% | -28.3% | -42.0% | -15.8% | -38.9% | 5.9% | 7.1% |
| Non-Recurring | 0 | 0 | 4.2M | -129M | -402M | -105M | -105M |
| Returns on Capital | |||||||
| ROIC | 9.7% | -8.3% | -93.8% | -20.1% | -67.5% | 9.6% | 21.1% |
| ROE | 9.7% | -300.4% | -113.4% | -23.1% | -90.6% | 19.2% | 17.8% |
| ROA | N/A | -45.5% | -38.5% | -11.4% | -32.1% | 5.4% | 5.7% |
| Cash Flow | |||||||
| Op. Cash Flow | 4.3M | 50M | -40M | -22M | 48M | 239M | 247M |
| Free Cash Flow | 3.2M | 43M | -62M | -42M | 30M | 225M | 234M |
| Owner Earnings | 3.8M | -19M | -288M | -112M | -42M | 154M | 173M |
| CapEx | 1.1M | 6.6M | 22M | 20M | 18M | 14M | 13M |
| Maint. CapEx | 290K | 815K | 6.3M | 19M | 29M | 30M | 26M |
| Growth CapEx | 807K | 5.8M | 16M | 1.1M | 0 | 0 | 0 |
| D&A | 290K | 815K | 6.3M | 19M | 29M | 30M | 26M |
| CapEx/OCF | N/A | 13.3% | N/A | 210.8% | 37.1% | 5.8% | 5.4% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 156K | 68M | 242M | 71M | 61M | 54M | 48M |
| Debt Repayment | 0 | 0 | 27M | 55M | 149M | 12M | 12M |
| Balance Sheet | |||||||
| Net Debt | N/A | -153M | -155M | 31M | -645M | -681M | -1.1B |
| Cash & Equiv. | 5.1M | 191M | 310M | 186M | 188M | 235M | 1.3B |
| Long-Term Debt | N/A | 38M | 78M | 90M | 304M | 500M | 6.5M |
| Debt/Equity | 0.03 | 29.34 | 0.28 | 0.39 | 0.98 | 1.04 | 0.23 |
| Interest Coverage | N/A | N/A | -57.9 | -1.4 | 3.4 | 2.9 | 2.9 |
| Equity | 88M | 1.3M | 554M | 560M | 326M | 480M | 529M |
| Total Assets | N/A | 590M | 1.0B | 1.2B | 1.3B | 1.5B | 1.6B |
| Total Liabilities | 2.5M | 106M | 280M | 468M | 775M | 960M | 1.0B |
| Intangibles | N/A | N/A | 0 | 2.6M | 13M | 7.7M | 6.2M |
| Retained Earnings | N/A | -112M | -414M | -543M | -944M | -863M | -838M |
| Working Capital | 0 | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | 0 | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | 0 | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||
| EPS | 0.02 | -8.25 | -8.22 | -2.14 | -5.66 | 0.93 | 1.11 |
| Owner EPS | 0.02 | -1.15 | -7.53 | -1.86 | -0.60 | 1.86 | 1.79 |
| Book Value | 0.36 | 0.08 | 14.47 | 9.33 | 4.60 | 5.78 | 5.47 |
| Cash Flow/Share | 0.02 | 3.06 | -1.05 | -0.36 | 0.67 | 2.87 | 1.24 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 245.6M | 16.3M | 38.3M | 60.0M | 70.9M | 83.1M | 96.7M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | 23.5 | 14.3 |
| P/FCF | N/A | 44.7 | N/A | N/A | 22.8 | 8.1 | 6.6 |
| EV/EBIT | N/A | N/A | N/A | N/A | 2.8 | 5.2 | 1.3 |
| Price/Book | N/A | N/A | 1.0 | 1.8 | 2.1 | 4.0 | 2.9 |
| Price/Sales | N/A | 14.1 | 4.9 | 1.2 | 0.8 | 1.4 | 1.2 |
| FCF Yield | N/A | 0.6% | -11.0% | -4.2% | 4.4% | 11.8% | 15.2% |
| Market Cap | 0 | 6.8B | 569M | 1.0B | 684M | 1.9B | 1.5B |
| Avg. Price | 0.00 | 117.44 | 96.37 | 16.53 | 12.30 | 20.88 | 15.89 |
| Year-End Price | 0.00 | 118.56 | 14.88 | 16.80 | 9.65 | 21.84 | 15.89 |
Pagaya Technologies Ltd. passes 3 of 9 quality checks, indicating weak fundamentals.
Pagaya Technologies Ltd. trades at 17.1x trailing earnings, compared to its 15-year median P/E of 23.5x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 5.0x vs a median of 22.8x. The company's 5-year average gross margin is 42.5%. At current prices, the estimated annualized return to fair value is +3.0%.
Pagaya Technologies Ltd. (PGY) has a net profit margin of 5.9%. This is a modest margin.
Pagaya Technologies Ltd. (PGY) generated $225 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Pagaya Technologies Ltd. (PGY) has a debt-to-equity ratio of 1.04. This indicates moderate leverage.
Pagaya Technologies Ltd. (PGY) reported earnings per share (EPS) of $0.93 in its most recent fiscal year.
Pagaya Technologies Ltd. (PGY) has a return on equity (ROE) of 19.2%. This indicates the company generates strong returns for shareholders.
Pagaya Technologies Ltd. (PGY) has a 5-year average gross margin of 42.5%. This indicates decent pricing power.
The Ledger Terminal provides 6 years of financial data for Pagaya Technologies Ltd. (PGY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Pagaya Technologies Ltd. (PGY) has a book value per share of $5.78, based on its most recent annual SEC filing.