What is Pagaya Technologies's EV / EBITDA?

Pagaya Technologies (PGY) reported EV / EBITDA of 3.4× in Q1 2026.

How has Pagaya Technologies's EV / EBITDA changed year-over-year?

Pagaya Technologies's EV / EBITDA decreased by 49.3% year-over-year, from 6.7× to 3.4×.

What does EV / EBITDA mean?

Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.

Pagaya Technologies PGY EV / EBITDA

EV / EBITDA at other companies

Fair IsaacFICO

25×-32.5×

Upstart Holdings, Inc.UPST

53.9×—

nCino, Inc.NCNO

32.7×-83.0×

OppFiOPFI

0.7×-0.3×

Dave, Inc.DAVE

10×-5.5×

Affirm Holdings, Inc.AFRM

30.4×-2,653×

Other financials

Income statement

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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

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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

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Operating cash flow$43.2M+25.4%

CapEx$3.2M-15.9%

Free cash flow$40.0M+30.5%

Valuation

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Market cap$1.26B-9.9%

Enterprise value$1.39B-8.8%

P/E12.8×—

P/S1×-0.4×

Profitability

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Gross margin42.9%+0.4pp

Operating margin22.3%+12.4pp

Net margin7.4%+4.0pp

FCF margin17.6%—

Returns & leverage

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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.

enterprise value/ebitda=3.4×

Based on the most recent quarter.

The official record: Pagaya Technologies’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Pagaya Technologies's EV / EBITDA?: Pagaya Technologies (PGY) reported EV / EBITDA of 3.4× in Q1 2026.
How has Pagaya Technologies's EV / EBITDA changed year-over-year?: Pagaya Technologies's EV / EBITDA decreased by 49.3% year-over-year, from 6.7× to 3.4×.
What does EV / EBITDA mean?: Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.