A Business at a Glance
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ITEM 4. INFORMATION ON THE COMPANY A. History and Development of the Company Paysafe Limited was incorporated under the laws of Bermuda on November 23, 2020 for the purpose of effectuating the Transaction described herein and became the parent company of the combined business following the consummation of the Transaction, which was consummated on March 30, 2021. On December 7, 2020, Foley Trasimene Acquisition Corp. II, a Delaware corporation (“FTAC”), Paysafe Limited, an exempted limited company incorporated under the laws of Bermuda (“Paysafe Limited”), Merger Sub Inc., a Delaware corporation and direct, wholly owned subsidiary of Paysafe Limited (“Merger Sub”), Paysafe Bermuda Holding LLC, a Bermuda exempted limited liability company (the “LLC”), Pi Jersey Holdco 1.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.7B | 1.7B | 1.7B | 1.6B | 1.5B | 1.5B |
| Net Income | -183M | -183M | 22M | -20M | -1.9B | -111M |
| EPS | $-3.14 | $-3.14 | $0.36 | $-0.33 | $-30.78 | $-1.80 |
| Free Cash Flow | 224M | 224M | 238M | 221M | 920M | 219M |
| ROIC | 1.8% | 2.5% | 4.7% | 3.2% | -53.3% | -2.1% |
| Gross Margin | 56.4% | 56.4% | 58.0% | 58.6% | 59.0% | 59.7% |
| Debt/Equity | 4.07 | 4.07 | 2.75 | 2.87 | 3.13 | 1.09 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 72M | 72M | 133M | 159M | -1.9B | -269M |
| Operating Margin | 4.2% | 4.2% | 7.8% | 9.9% | -125.1% | -18.1% |
| ROE | -27.9% | -23.8% | 2.5% | -2.3% | -216.7% | -4.3% |
| Shares Outstanding | 58M | 58M | 62M | 61M | 61M | 10M |
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 1.4B | 1.4B | 1.5B | 1.5B | 1.6B | 1.7B | 1.7B | 1.7B |
| Gross Margin | 64.1% | 62.5% | 59.7% | 59.0% | 58.6% | 58.0% | 56.4% | 56.4% |
| R&D | N/A | N/A | 8.6M | N/A | N/A | N/A | N/A | N/A |
| SG&A | 443M | 466M | 545M | 535M | 508M | 576M | 564M | 564M |
| EBIT | 52M | 20M | -269M | -1.9B | 159M | 133M | 72M | 72M |
| Op. Margin | 3.7% | 1.4% | -18.1% | -125.1% | 9.9% | 7.8% | 4.2% | 4.2% |
| Net Income | -110M | -127M | -111M | -1.9B | -20M | 22M | -183M | -183M |
| Net Margin | -7.8% | -8.9% | -7.5% | -124.5% | -1.3% | 1.3% | -10.7% | -10.7% |
| Non-Recurring | 94M | 144M | 350M | 1.9B | 1.9B | 5.2M | 48M | 48M |
| Returns on Capital | ||||||||
| ROIC | 57.9% | 0.4% | -2.1% | -53.3% | 3.2% | 4.7% | 2.5% | 1.8% |
| ROE | N/A | -6.6% | -4.3% | -216.7% | -2.3% | 2.5% | -23.8% | -27.9% |
| ROA | -123.2% | -1.7% | -1.5% | -31.3% | -0.4% | 0.5% | -3.8% | -3.8% |
| Cash Flow | ||||||||
| Op. Cash Flow | 289M | 409M | 224M | 924M | 234M | 254M | 236M | 236M |
| Free Cash Flow | 279M | 404M | 219M | 920M | 221M | 238M | 224M | 224M |
| Owner Earnings | 9.2M | 141M | -139M | 595M | -59M | -59M | -73M | -73M |
| CapEx | 9.7M | 5.4M | 5.6M | 4.5M | 13M | 16M | 13M | 13M |
| Maint. CapEx | 280M | 268M | 261M | 267M | 264M | 275M | 276M | 276M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 280M | 268M | 261M | 267M | 264M | 275M | 276M | 276M |
| CapEx/OCF | N/A | 1.3% | 2.5% | 1.9% | 5.5% | 6.3% | 5.3% | 5.3% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 990K | 484K | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.1% | 0.1% | N/A | N/A | 0.0% |
| Stock-Based Comp | 0 | N/A | 102M | 62M | 29M | 39M | 32M | 32M |
| Debt Repayment | 129M | 362M | 3.4B | 149M | 122M | 175M | 156M | 156M |
| Balance Sheet | ||||||||
| Net Debt | -45M | 2.5B | 2.2B | 2.2B | 2.1B | 2.0B | 2.2B | 2.4B |
| Cash & Equiv. | 235M | 388M | 313M | 260M | 202M | 217M | 250M | 250M |
| Long-Term Debt | 190M | 3.2B | 2.7B | 2.6B | 2.5B | 2.4B | 2.6B | 2.6B |
| Debt/Equity | N/A | 1.73 | 1.09 | 3.13 | 2.87 | 2.75 | 4.07 | 4.07 |
| Interest Coverage | 0.3 | 0.1 | -1.6 | -14.8 | 1.0 | 0.9 | 0.5 | 0.5 |
| Equity | N/A | 1.9B | 2.6B | 860M | 883M | 879M | 655M | 655M |
| Total Assets | 89M | 7.4B | 7.3B | 6.0B | 5.2B | 4.8B | 4.8B | 4.8B |
| Total Liabilities | N/A | 5.5B | 4.6B | 5.1B | 4.3B | 3.9B | 4.1B | 4.1B |
| Intangibles | N/A | 1.5B | 1.2B | 1.3B | 1.2B | 981M | 874M | 874M |
| Retained Earnings | N/A | -266M | -377M | -2.2B | -2.3B | -2.2B | -2.4B | -2.4B |
| Working Capital | N/A | 376M | 684M | 197M | 194M | 231M | 336M | 336M |
| Current Assets | N/A | 2.2B | 2.3B | 2.5B | 1.9B | 1.7B | 1.8B | 1.8B |
| Current Liabilities | N/A | 1.8B | 1.7B | 2.3B | 1.7B | 1.4B | 1.4B | 1.4B |
| Per Share Data | ||||||||
| EPS | -1.80 | -1.96 | -1.80 | -30.78 | -0.33 | 0.36 | -3.14 | -3.14 |
| Owner EPS | 0.15 | 2.18 | -14.51 | 9.83 | -0.96 | -0.97 | -1.25 | -1.25 |
| Book Value | N/A | 29.66 | 268.88 | 14.21 | 14.39 | 14.28 | 11.27 | 11.27 |
| Cash Flow/Share | 4.72 | 6.31 | 23.49 | 15.27 | 3.81 | 4.12 | 4.06 | 1.61 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 61.2M | 64.8M | 9.6M | 60.5M | 61.4M | 61.6M | 58.1M | 58.1M |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | 48.3 | N/A | -2.6 |
| P/FCF | N/A | 31.4 | 2.0 | 0.8 | 3.7 | 4.5 | 2.1 | 2.1 |
| EV/EBIT | N/A | 771.2 | N/A | N/A | 18.4 | 22.6 | 36.0 | 40.3 |
| Price/Book | N/A | 6.6 | 2.1 | 0.9 | 0.9 | 1.2 | 0.7 | 0.7 |
| Price/Sales | N/A | 6.1 | 10.2 | 1.1 | 0.5 | 0.6 | 0.5 | 0.3 |
| FCF Yield | N/A | 3.2% | 4.1% | 122.5% | 27.1% | 22.2% | 47.9% | 46.6% |
| Market Cap | N/A | 12.7B | 5.4B | 750M | 816M | 1.1B | 467M | 480M |
| Avg. Price | N/A | 134.06 | 131.95 | 28.33 | 13.81 | 17.95 | 13.75 | 8.25 |
| Year-End Price | N/A | 195.60 | 46.68 | 12.40 | 13.30 | 17.38 | 8.03 | 8.25 |
Paysafe Ltd passes 1 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 2.1x vs a median of 2.9x. The company's 5-year average gross margin is 58.3%. At current prices, the estimated annualized return to fair value is -7.8%.
Paysafe Ltd (PSFE) has a 5-year average return on invested capital (ROIC) of -9.0%. This is below average and may indicate limited pricing power.
Paysafe Ltd (PSFE) has a market capitalization of $480M. It is classified as a small-cap stock.
Paysafe Ltd (PSFE) does not currently pay a regular dividend.
Paysafe Ltd (PSFE) operates in the Services-Business Services, Nec industry, within the Industrials sector.
Paysafe Ltd (PSFE) reported annual revenue of $1.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
Paysafe Ltd (PSFE) has a net profit margin of -10.7%. The company is currently unprofitable.
Paysafe Ltd (PSFE) generated $224 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Paysafe Ltd (PSFE) has a debt-to-equity ratio of 4.07. This indicates higher leverage, which may increase financial risk.
Paysafe Ltd (PSFE) reported earnings per share (EPS) of $-3.14 in its most recent fiscal year.
Paysafe Ltd (PSFE) has a return on equity (ROE) of -23.8%. A negative ROE may indicate losses or negative equity.
Paysafe Ltd (PSFE) has a 5-year average gross margin of 58.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 7 years of financial data for Paysafe Ltd (PSFE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Paysafe Ltd (PSFE) has a book value per share of $11.27, based on its most recent annual SEC filing.
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