What is Pagaya Technologies's secured debt?

Pagaya Technologies (PGY) reported secured debt of $156.28M in Q1 2026.

What does secured debt mean?

This represents debt obligations backed by specific company assets pledged as collateral to reduce lender risk. By securing debt against assets, the company may achieve more favorable borrowing terms, though it limits the flexibility of those assets. Analyzing this metric provides insight into the company's asset-based financing strategy and the level of risk associated with its debt portfolio.

Pagaya Technologies PGY Secured Debt

Secured Debt at other companies

The BancorpTBBK

$196.32M+104%

MidCap Financial Investment CorporationMFIC

$2B+13.9%

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

Reported directly by Pagaya Technologies in its filing.

Tagged under the XBRL concept us-gaap:SecuredDebt.

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 secured debt?: Pagaya Technologies (PGY) reported secured debt of $156.28M in Q1 2026.
What does secured debt mean?: This represents debt obligations backed by specific company assets pledged as collateral to reduce lender risk. By securing debt against assets, the company may achieve more favorable borrowing terms, though it limits the flexibility of those assets. Analyzing this metric provides insight into the company's asset-based financing strategy and the level of risk associated with its debt portfolio.