What are Pagaya Technologies's profit margins?

Pagaya Technologies (PGY) runs a 42.9% gross margin and a 22.3% operating margin, with a 7.4% net margin.

Where do Pagaya Technologies's ratios come from?

Every ratio is computed from Pagaya Technologies's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Pagaya Technologies PGY Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	42.9%+0.4pp	42.4%0.0pp	42.4%+0.2pp	42.3%-0.2pp	42.4%+0.3pp
Operating margin	22.3%+2.0pp	20.3%+2.9pp	17.3%—	——	——
Net margin	7.4%+1.1pp	6.3%+21.6pp	-15.3%+9.0pp	-24.4%+10.2pp	-34.6%+4.3pp
EBITDA margin	24.3%+1.7pp	22.6%+2.8pp	19.8%+3.4pp	16.4%+3.7pp	12.7%+3.5pp
Returns
Return on equity	22.7%+2.5pp	20.2%+62.6pp	-42.4%+20.5pp	-62.9%+14.5pp	-77.4%+13.2pp
Return on assets	6.7%+1.0pp	5.7%+19.2pp	-13.5%—	——	——
Return on invested capital	53.1%+7.1pp	46%+11.2pp	34.8%—	——	——
Efficiency
Asset turnover	0.9×0.0×	0.9×0.0×	0.9×—	——	——
Leverage
Debt-to-equity	1×-0.1×	1.1×-0.1×	1.2×+0.3×	0.9×-0.1×	1.1×0.0×
Debt-to-assets	0.3×0.0×	0.3×0.0×	0.4×+0.1×	0.2×0.0×	0.3×0.0×
Net debt / EBITDA	0.4×-0.4×	0.8×-0.3×	1×+0.6×	0.5×-0.4×	0.9×-0.3×
Per Share
Book value per share	$5.47-5.3%	$5.78+20.0%	$4.81+4.6%	$4.60+5.7%	$4.35-5.5%
Valuation
Market capitalization	$1.28B-8.3%	$1.68B-26.1%	$2.27B+50.5%	$1.51B+91.5%	$789.13M+15.3%
Enterprise value	$1.41B-7.3%	$1.91B-24.7%	$2.53B+58.1%	$1.6B+75.5%	$912.56M+14.3%
Price / sales	1×-0.3×	1.3×-0.5×	1.8×+0.5×	1.3×+0.6×	0.7×+0.1×
Price / book	2.4×-1.7×	3.5×-1.7×	5.2×+1.1×	4.1×+1.8×	2.4×+0.3×
EV / EBITDA	4.4×-6.7×	6.5×-3.8×	10.2×+1.8×	8.5×+1.8×	6.7×-1.7×
EV / sales	1.1×-0.4×	1.5×-0.6×	2×+0.6×	1.4×+0.5×	0.8×+0.1×
Earnings yield	7.7%+34.3pp	4.8%+13.2pp	-8.4%+10.2pp	-18.6%+28.6pp	-47.2%+11.5pp

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Questions, answered.

What are Pagaya Technologies's profit margins?: Pagaya Technologies (PGY) runs a 42.9% gross margin and a 22.3% operating margin, with a 7.4% net margin.
Where do Pagaya Technologies's ratios come from?: Every ratio is computed from Pagaya Technologies's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.