Pagaya Technologies PGY Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 42.9%+0.4pp | 42.4%+0.3pp | 42.4%+1.5pp | 42.3%+2.1pp | 42.4%+3.2pp | |
| Operating margin | 22.3%+12.4pp | 20.3%+13.8pp | 17.3%— | 13.7%— | 9.9%— | |
| Net margin | 7.4%+42.0pp | 6.3%+45.1pp | -15.3%+3.0pp | -24.4%-10.1pp | -34.6%-24.4pp | |
| EBITDA margin | 24.3%+11.5pp | 22.6%+13.3pp | 19.8%+15.0pp | 16.4%+14.0pp | 12.7%+12.2pp | |
| Free cash flow margin | 17.6%— | 17.3%— | 13.8%— | —— | —— | |
| Returns | ||||||
| Return on equity | 22.7%+100pp | 20.2%+111pp | -42.4%-11.0pp | -62.9%-41.4pp | -77.4%-64.2pp | |
| Return on assets | 6.7%+33.7pp | 5.7%+37.9pp | -13.5%— | -19.7%— | -27%— | |
| Return on invested capital | 53.1%+32.9pp | 46%+30.5pp | 34.8%— | 31.8%— | 20.2%— | |
| Efficiency | ||||||
| Asset turnover | 0.9×+0.1× | 0.9×+0.1× | 0.9×— | 0.8×— | 0.8×— | |
| Leverage | ||||||
| Debt-to-equity | 1×-0.1× | 1.1×0.0× | 1.2×+0.6× | 0.9×+0.4× | 1.1×+0.6× | |
| Debt-to-assets | 0.3×0.0× | 0.3×+0.1× | 0.4×+0.2× | 0.2×0.0× | 0.3×+0.1× | |
| Net debt / EBITDA | 0.4×-0.5× | 0.8×-0.4× | 1×-0.7× | 0.5×0.0× | 0.9×+6.7× | |
| Per Share | ||||||
| Book value per share | $5.47+25.6% | $5.78+25.4% | $4.81-24.3% | $4.60-37.2% | $4.35-55.2% | |
| Valuation | ||||||
| Market capitalization | $1.26B-9.9% | $1.68B+146% | $2.27B+200% | $1.51B+67.0% | $789.13M+10.9% | |
| Enterprise value | $1.39B-8.8% | $1.91B+139% | $2.53B+201% | $1.6B+75.0% | $912.56M+33.2% | |
| Price / earnings | 12.8×— | 20.6×— | —— | —— | —— | |
| Price / sales | 1×-0.4× | 1.3×+0.6× | 1.8×+1.0× | 1.3×+0.3× | 0.7×-0.1× | |
| Price / book | 2.4×-1.8× | 3.5×+1.4× | 5.2×+3.5× | 4.1×+2.4× | 2.4×+1.2× | |
| EV / EBITDA | 4.3×-6.8× | 6.5×-1.9× | 10.2×-7.8× | 8.5×-32.4× | 6.7×-144× | |
| EV / sales | 1×-0.4× | 1.5×+0.7× | 2×+1.2× | 1.4×+0.4× | 0.8×+0.1× | |
| Free cash flow yield | 18.6%— | 13.4%— | 7.6%— | —— | —— | |
| Earnings yield | 7.8%+34.4pp | 4.8%+63.5pp | -8.4%+15.0pp | -18.6%-4.0pp | -47.2%-34.7pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →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.
