What is Pagaya Technologies's free cash flow margin?

Pagaya Technologies (PGY) reported free cash flow margin of 17.6% in Q1 2026.

What is the long-term trend for Pagaya Technologies's free cash flow margin?

Over 2 years (2021 to 2025), Pagaya Technologies's free cash flow margin has grown at a 37.8% compound annual growth rate (CAGR), from 9.1% to 17.3%.

What does free cash flow margin mean?

Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

Pagaya Technologies PGY Free cash flow margin

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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+21.8%

Enterprise value$1.39B+19.3%

P/E12.8×—

P/S1×0.0×

Profitability

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Gross margin42.9%+0.4pp

Operating margin22.3%+12.4pp

Net margin7.4%+4.0pp

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.

free cash flow/total revenue=17.6%

Based on trailing twelve months.

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 free cash flow margin?: Pagaya Technologies (PGY) reported free cash flow margin of 17.6% in Q1 2026.
What is the long-term trend for Pagaya Technologies's free cash flow margin?: Over 2 years (2021 to 2025), Pagaya Technologies's free cash flow margin has grown at a 37.8% compound annual growth rate (CAGR), from 9.1% to 17.3%.
What does free cash flow margin mean?: Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.