What is Pagaya Technologies's cash ratio?

Pagaya Technologies (PGY) reported cash ratio of 1× in Q2 2025.

How has Pagaya Technologies's cash ratio changed year-over-year?

Pagaya Technologies's cash ratio decreased by 14.4% year-over-year, from 1.1× to 1×.

What is the long-term trend for Pagaya Technologies's cash ratio?

Over 2 years (2022 to 2024), Pagaya Technologies's cash ratio has grown at a -33.7% compound annual growth rate (CAGR), from 2.6× to 1.2×.

What does cash ratio mean?

Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.

Pagaya Technologies PGY Cash ratio

Cash ratio at other companies

Fair IsaacFICO

0.5×+0.1×

Open Lending CorporationLPRO

3.8×-1.8×

nCino, Inc.NCNO

0.3×-0.2×

Q2 HoldingsQTWO

0.4×-0.4×

Priority Technology HoldingsPRTH

1×0.0×

NCR AtleosNATL

0.3×0.0×

Other financials

Income statement

See full

Revenue$317.9M+9.6%

Gross profit$140.4M+14.2%

Operating income$80.0M+67.8%

Net income$24.7M+213%

EPS (diluted)$0.28+180%

Balance sheet

See full

Cash & equivalents$380.0M+65.5%

Total debt$507.6M+43.8%

Total equity$529.3M+57.8%

Total assets$1.6B+29.0%

Cash flow

See full

Operating cash flow$43.2M+25.4%

CapEx$3.2M-15.9%

Free cash flow$40.0M+30.5%

Valuation

See full

Market cap$1.28B-8.3%

Enterprise value$1.41B-7.3%

P/E13.1×—

P/S1×-0.3×

Profitability

See full

Gross margin42.9%+0.4pp

Operating margin22.3%+12.4pp

Net margin7.4%+4.0pp

FCF margin17.6%—

Returns & leverage

See full

Return on equity22.7%+12.8pp

Debt / equity1×-0.1×

Current ratio1.4×-0.1×

Where this comes from

Calculated from Pagaya Technologies’s reported figures.

cash and equivalents/total current liabilities=1×

Based on the most recent quarter.

The official record: Pagaya Technologies’s 10-Q, filed August 7, 2025, on SEC EDGAR. View the filing →

Ask your AI about Pagaya Technologies's cash ratio.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Pagaya Technologies's cash ratio?: Pagaya Technologies (PGY) reported cash ratio of 1× in Q2 2025.
How has Pagaya Technologies's cash ratio changed year-over-year?: Pagaya Technologies's cash ratio decreased by 14.4% year-over-year, from 1.1× to 1×.
What is the long-term trend for Pagaya Technologies's cash ratio?: Over 2 years (2022 to 2024), Pagaya Technologies's cash ratio has grown at a -33.7% compound annual growth rate (CAGR), from 2.6× to 1.2×.
What does cash ratio mean?: Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.