Pagaya Technologies Ltd. logo PGY - Pagaya Technologies Ltd.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 8
HOLD 4
SELL 0
STRONG
SELL
0
| PRICE TARGET: $31.25 DETAILS
HIGH: $35.00
LOW: $25.00
MEDIAN: $32.50
CONSENSUS: $31.25
UPSIDE: 144.91%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Revenue
Revenue 317.9 321.0 339.9 317.7 282.7 275.7 249.3 242.6 237.0 210.4 201.4 185.7 175.3 178.2 185.6 163.3 158.3 144.3 128.1 92.2 91.6 36.4 36.4 13.1 13.1
Cost of Revenue 177.6 190.0 200.6 191.5 167.1 158.2 149.0 145.6 144.9 134.5 128.8 120.6 125.1 124.7 129.1 105.0 92.3 50.8 81.7 62.6 49.9 17.7 17.7 6.9 6.9
Gross Profit 140.4 131.0 139.3 126.2 115.6 117.5 100.3 97.0 92.1 75.9 72.7 65.1 50.2 53.5 56.5 58.3 66.0 93.4 46.4 29.6 41.7 18.7 18.7 6.3 6.3
Operating Expenses
R&D Expenses 15.9 19.1 18.2 18.5 19.4 18.6 16.7 21.9 19.4 17.6 18.0 17.7 21.1 23.6 38.6 65.1 23.6 14.9 11.9 8.6 19.7 3.5 3.5 2.6 2.6
SG&A Expenses 22.3 46.0 51.4 60.0 55.8 70.8 69.2 77.8 73.3 55.4 64.8 67.6 65.4 71.3 100.4 162.1 64.6 91.2 28.1 17.6 31.3 6.4 5.8 2.0 2.0
Other Expenses 22.2 0 (10.3) (8.7) (7.3) (3.7) (8.0) (7.8) (8.3) (7.6) (10.3) (9.9) (11.4) (14.7) (18.3) (18.2) (12.2) (10.5) (8.4) (6.9) 0 (0.6) 0.1 0.2 0.2
Operating Expenses 60.4 65.0 59.4 69.8 67.9 85.7 77.9 92.0 84.4 65.3 72.5 75.3 75.2 80.2 120.7 208.9 76.1 95.6 31.6 19.2 51.0 9.4 9.4 4.9 4.9
Operating Income
Operating Income 80 65.9 80.0 56.5 47.7 31.7 22.4 5.0 7.7 10.7 0.2 (10.2) (25.0) (26.7) (64.2) (150.6) (10.0) (2.2) 14.8 10.4 (9.2) 9.3 9.3 1.3 1.3
Interest Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 17.7 13.8 14.9 10.7 7.7 7.6 8.7 8.2 7.7 7.8 10.4 10.2 10.4 14.6 13.7 17.3 12.2 10.6 8.5 7.0 0.0 0 0 0 0
Profitability
EBITDA 81.2 29.2 15.7 55.4 48.1 36.3 21.5 4.3 5.7 9.0 (5.0) (15.7) (32.8) (39.2) (79.6) (168.2) (21.7) (12.3) 6.6 3.5 (9.1) 9.4 9.4 1.4 1.4
EBIT 80 22.1 8.1 47.8 40.4 28.0 14.4 (2.7) (0.6) 3.0 (10.1) (20.2) (36.4) (41.4) (82.5) (168.9) (22.2) (12.7) 6.4 3.5 (9.2) 9.3 9.3 1.3 1.3
Income Before Tax 27.3 22.1 8.1 21.5 (0.0) (240.5) (85.8) (68.2) (26.7) (15.0) (47.1) (27.1) (92.0) (61.4) (60.9) (144.3) (9.7) (6.5) (18.0) 1.2 (18.6) 9.3 9.3 1.3 1.3
Income Tax Expense 3.1 (7.0) (15.2) 5.0 (2.5) 16.6 (11.5) 14.5 5.0 5.1 (1.2) 5.0 6.7 (9.2) 6.1 19.7 (0.2) (3.5) 3.6 1.6 3.9 0.6 0.6 0.1 0.1
Net Income 24.7 34.3 22.5 16.7 7.9 (237.9) (67.5) (74.8) (21.2) (14.4) (21.8) (31.3) (61.0) (34.0) (74.8) (175.3) (18.3) (10.5) (28.2) (5.9) (26.3) 6.0 6.0 1.3 1.3
Per Share Data
EPS (Basic) 0.28 0.42 0.27 0.20 0.10 -3.20 -0.93 -1.04 -0.33 -0.24 -0.36 -0.53 -1.66 -0.91 -2.25 -6.34 -0.56 -0.65 -1.72 -0.36 -1.08 0.27 0.27 0.27 0.27
EPS (Diluted) 0.28 0.36 0.23 0.20 0.10 -3.20 -0.93 -1.04 -0.33 -0.23 -0.33 -0.52 -1.66 -0.91 -2.25 -6.34 -0.56 -0.63 -1.72 -0.36 -1.08 0.27 0.27 0.27 0.27
Shares Outstanding 88.2 81.9 78.5 76.9 75.8 74.3 72.7 71.8 64.5 61.3 60.4 59.6 59.3 57.3 29.8 21.3 17.1 16.0 16.3 16.1 16.1 18.4 18.4 18.4 18.4
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Current Assets
Cash & Cash Equivalents 380.0 288.3 218.3 183.0 186.8 187.9 147.1 233.6 274.5 186.5 252.6 304.0 289.4 309.8 327.9 415.0 0.2 190.8 0.4 42.5 0.7 5.1 5.1 1.3 (14.9)
Short-Term Investments 0 0 0 21.5 19.7 7.8 11.3 1.7 1.3 2.5 0.2 2.1 3.3 1.0 2.4 4.2 0 10.2 0 149.5 0 57.6 57.6 14.4 29.8
Net Receivables 170.7 153.2 155.0 127.9 123.2 127.4 98.3 93.5 94.5 87.4 71.5 68.0 58.5 59.2 52.1 35.1 0 32.3 0 34.7 0 12.8 12.8 3.4 0
Inventory 0 0 0 0 0 0 0 0 0 0 26.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 0 0 46.5 23.8 25.9 20.8 41.8 32.5 28.8 20.3 27.4 47.2 22.5 42.7 34.2 11.7 0 9.9 0 50.6 0 1.1 1.1 0.2 0
Total Current Assets 550.7 441.6 419.7 362.5 355.6 351.5 298.5 361.2 399.1 303.4 378.0 421.4 399.2 419.8 439.1 472.1 0.5 246.5 0.8 278.2 1.4 77.0 77.0 19.2 14.9
Non-Current Assets
Property, Plant & Equipment 60.4 60.8 64.6 68.2 71.5 74.8 73.4 92.3 96.4 97.3 95.3 94.8 93.3 92.7 94.6 66.8 0 7.6 0 2.1 0 1.5 1.5 0.4 0.4
Goodwill 22.9 22.9 22.9 22.9 22.9 23.1 10.9 10.9 10.9 10.9 10.9 9.8 9.8 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 6.2 7.7 9.1 10.5 11.7 12.8 0.6 1.3 1.9 2.5 3.2 3.8 4.5 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 956.2 958.8 902.6 868.0 762.4 778.3 937.9 936.4 919.8 740.7 692.0 614.9 530.8 488.9 468.6 401.8 287.7 292.4 287.6 209.4 287.5 110.6 110.6 0.3 0.3
Other Non-Current Assets 52.2 54.2 36.5 66.9 54.4 50.6 49.4 50.9 55.1 53.5 5.5 42.4 44.8 38.0 38.7 36.1 0 43.7 0.1 5.9 0 15.2 15.2 30.5 (14.9)
Total Non-Current Assets 1,097.9 1,104.3 1,035.6 1,036.6 922.8 939.6 1,072.3 1,091.8 1,084.1 905.0 842.2 765.7 683.1 625.3 610.4 531.7 287.7 343.7 287.7 217.4 287.5 127.3 127.3 31.8 (14.9)
Total Assets 1,648.6 1,545.9 1,455.4 1,399.0 1,278.4 1,291.1 1,370.8 1,453.0 1,483.2 1,208.4 1,220.2 1,187.1 1,082.4 1,045.1 1,049.6 1,003.9 288.2 590.3 288.6 495.6 288.9 204.3 204.3 51.1 51.1
Current Liabilities
Account Payables 3.8 3.9 5.1 9.2 10.0 7.0 5.8 7.3 3.1 1.3 1.3 3.8 2.7 1.7 2.5 2.9 0 11.6 0 3.5 0 0.6 0.6 0.1 0.1
Short-Term Debt 271.0 0 0 183.2 135.8 126.8 208.2 189.0 120.8 37.7 44.2 66.1 45.8 61.8 26.3 28.0 0 0 0 0 0 0 0 0 0
Deferred Revenue 8.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 55.0 74.6 0 0 0 29.0 0 0 0 18.2 0 0 11.7 6.4 0 11.8 1.9 1.9 1.1 34.5 0.2 0.9 0.9 0.9 0.9
Total Current Liabilities 338.2 78.6 114.6 254.5 198.7 195.5 254.5 241.3 169.4 74.9 81.6 111.7 95.7 128.0 89.0 89.0 8.4 28.7 1.1 43.4 0.2 4.3 4.3 1.1 1.1
Non-Current Liabilities
Long-Term Debt 654.5 888.6 767.5 544.5 507.8 516.9 445.7 518.1 445.4 324.0 401.6 240.5 213.4 92.8 87.5 96.3 0 37.9 0 0 0 0 0 0 0
Deferred Tax Liabilities 0 0 0 26.3 0 0 0.2 0.1 0.1 0.1 0.6 0.6 0.5 0.6 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 24.1 (10.8) 37.5 76.7 102.5 106.5 100.0 38.4 100.5 99.6 23.4 13.0 9.8 9.2 25.9 33.3 25.8 39.3 35.6 0 24.6 5.9 5.9 28.0 28.0
Total Non-Current Liabilities 711.2 912.0 804.9 676.6 638.9 654.0 573.5 596.1 587.9 467.7 466.7 298.0 270.2 151.6 166.9 161.4 25.8 77.2 35.6 0 24.6 5.9 5.9 28.0 28.0
Total Liabilities 1,049.5 990.6 919.5 931.1 837.6 849.5 828 837.4 757.3 542.6 548.4 409.7 365.9 279.7 255.8 250.4 34.2 105.9 36.7 43.4 24.8 10.1 10.1 29.0 29.0
Stockholders' Equity
Common Stock 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 287.5 0 287.5 0.0 259.2 0.0 0.0 0.0 0.0
Retained Earnings (838.0) (862.7) (897.0) (919.5) (936.1) (944.0) (706.1) (638.6) (563.9) (542.6) (528.2) (506.5) (475.2) (414.2) (380.2) (276.4) (33.5) (111.9) (35.7) (73.3) 7.3 2.9 2.9 0.7 0
Accumulated Other Comprehensive Income (32.3) (48.3) (45.3) (33.1) (27.4) (11.5) (90.4) (71.0) (24.3) 0.4 4.0 2.0 (1.3) (0.7) 0 0 0 0 0 0 0 0 0 (0.1) (11.4)
Total Stockholders' Equity 529.3 480.0 438.3 366.8 335.5 326.5 462.3 526.0 626.8 559.7 535.9 597.4 527.9 553.5 567.2 581.3 254.0 308.3 251.8 309.3 264.2 109.2 109.2 22.0 57.0
Total Liabilities & Equity 1,648.6 1,545.9 1,455.4 1,399.0 1,278.4 1,291.1 1,370.8 1,453.0 1,483.2 1,208.4 1,220.2 1,187.1 1,082.4 1,045.1 1,049.6 1,003.9 288.2 590.3 288.6 495.6 288.9 204.3 204.3 51.1 57.0
Debt Metrics
Total Debt 958.1 922.8 802.4 763.7 678.7 680.8 687.1 753.0 614.7 412.6 493.1 357.7 313.6 212.3 176.2 162.6 0 37.9 0 0 0 0 0 0 0
Net Debt 578.1 634.5 584.1 580.7 491.9 492.9 540.0 519.4 340.2 226.1 240.6 53.6 24.2 (97.5) (151.7) (252.4) (0.2) (152.9) (0.4) (42.5) (0.7) (5.1) (5.1) (1.3) 14.9
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Operating Activities
Net Income 24.7 34.3 23.3 16.7 7.9 (257.1) (74.2) (82.7) (31.7) (14.4) (45.9) (31.3) (61.0) (52.2) (67.0) (175.3) (18.3) (2.9) (21.6) 1.3 7.3 6.0 6.0 1.3 1.3
Depreciation & Amortization 3.9 7.1 7.6 7.6 7.7 8.3 7.1 7.0 6.3 6.0 5.2 4.5 3.5 2.2 2.9 0.7 0.5 0.3 0.2 0 0 0.1 0.1 0.1 0.1
Stock-Based Compensation 7.2 0 13.6 0 0 15.6 12.3 18.0 15.5 0 20.7 0 0 18.7 60.3 0 0 4.8 3.9 0 0 0.1 0.1 0.0 0.0
Change in Working Capital (31.0) (10.1) (32.1) (7.0) (24.1) 11.4 (37.5) 10.2 1.9 1.5 (1.5) (7.2) (13.7) (20.9) (12.5) 2.4 (10.9) 7.7 13.6 0.1 (0.7) (5.3) (5.3) (3.3) (3.3)
Other Non-Cash Items 38.5 48.5 54.6 40.1 42.9 253.8 85.2 56.7 25.7 25.9 37.6 32.2 47.4 50.1 4.0 149.4 25.9 2.1 32.5 (1.5) (7.9) 3.1 3.1 0.1 0.1
Operating Cash Flow 43.2 79.8 67.0 57.4 34.4 32.1 (7.1) 9.3 17.7 18.9 16.1 (1.8) (23.7) (2.1) (12.2) (22.8) (2.8) 12.0 28.5 (0.1) (1.3) 4.0 4.0 (1.8) (1.8)
Investing Activities
Capital Expenditure (3.2) (3.1) (3.2) (3.8) (3.8) (9.5) (4.2) (4.4) (5.1) (4.6) (5.1) (5.0) (5.5) (4.1) (16.6) (0.1) (1.5) (5.1) (0.6) (0.0) 0.0 (0.3) (0.3) (0.2) (0.2)
Acquisitions 0 (0.3) 0 0 0 (9.1) 0.0 0 0 0.7 0 5.2 10.1 (0.0) (2.0) 21.0 8.5 8 (0.0) 0 0 (42.3) (42.3) (42.3) (42.3)
Purchases of Investments (171.1) (271.1) (86.9) (192.2) (81.9) (155.2) (130.3) (146.8) (261.6) (129.9) (162.9) (151.6) (121.7) (93.8) (107.6) (83.2) (74.7) 44.6 16.3 0 (287.5) (37.8) (37.8) (37.8) (37.8)
Sales/Maturities of Investments 196.3 174.0 48.8 70.7 58.7 137.9 28.7 37.1 38.7 38.0 42.7 65.4 26.0 24.4 38.4 23.2 32.3 1.0 (14.2) 0 0 7.3 7.3 7.3 7.3
Other Investing Activities (38.0) 16.3 (16) 0 0.2 (5.5) 0 (0.1) 0 0 0 0 1.6 0 0 0 0 0 0 0 0 (53.2) (53.2) (7.6) (7.6)
Investing Cash Flow (15.9) (100.2) (57.3) (125.3) (26.9) (36.0) (105.8) (114.2) (228.1) (95.9) (125.2) (86.0) (89.5) (73.6) (87.8) (39.1) (35.4) 48.5 1.5 0 (287.5) (53.6) (53.6) (7.8) (7.8)
Financing Activities
Net Debt Issuance 69.6 56.1 25.9 81.3 (2.2) (3.1) 20.3 65.9 211.0 44.2 65.0 110.4 182.0 40.9 (10.5) 66.8 53.3 37.9 0 0 0 0 0 0 0
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (6.1) (13.8) (16.2) (4.0) (4.4) 51.9 (1.4) (2.2) (7.5) (58.5) (5.4) (80.4) (89.6) 5.1 47.6 (55.6) (31.5) (13.1) 41.8 0 0 29.6 29.6 30.1 30.1
Financing Cash Flow 64.2 42.7 12.3 78.4 (3.8) 48.8 25.5 63.7 298.7 11.6 63.4 105.2 92.9 46.0 37.1 304.8 20.5 24.8 20.9 0 289.5 29.6 29.6 30.1 30.1
Cash Position
Net Change in Cash 91.7 23.6 22.7 1.9 (1.6) 45.5 (86.9) (42.1) 87.5 (75.5) (47.2) 14.7 (20.4) (29.7) (62.9) 424.8 (0.2) 85.3 51.0 (0.1) 0.7 4.7 (44.3) 44.6 0.3
Cash at Beginning 288.3 264.8 242.0 204.9 206.5 181.0 267.9 310.0 222.5 278.9 331.4 311.9 332.3 366.8 429.7 0.2 0.4 119.3 68.3 0.7 0 1.2 45.8 1.2 1.2
Cash at End 380.0 288.3 264.8 206.8 204.9 226.5 181.0 267.9 310.0 203.4 284.2 326.6 311.9 337.1 366.8 425.0 0.2 204.6 119.3 0.5 0.7 5.9 1.5 45.8 1.5
Free Cash Flow 40.0 76.7 63.8 53.5 30.7 22.6 (11.3) 4.9 12.6 14.3 11.1 (6.8) (29.2) (6.3) (28.8) (23.0) (4.3) 6.9 27.9 (0.1) (1.3) 3.7 3.7 (2.1) (2.1)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Income Statement
Revenue 317.9 321.0 339.9 317.7 282.7 275.7 249.3 242.6 237.0 210.4 201.4 185.7 175.3 178.2 185.6 163.3 158.3 144.3 128.1 92.2 91.6 36.4 36.4 13.1 13.1
Gross Profit 140.4 131.0 139.3 126.2 115.6 117.5 100.3 97.0 92.1 75.9 72.7 65.1 50.2 53.5 56.5 58.3 66.0 93.4 46.4 29.6 41.7 18.7 18.7 6.3 6.3
Operating Income 80 65.9 80.0 56.5 47.7 31.7 22.4 5.0 7.7 10.7 0.2 (10.2) (25.0) (26.7) (64.2) (150.6) (10.0) (2.2) 14.8 10.4 (9.2) 9.3 9.3 1.3 1.3
Net Income 24.7 34.3 22.5 16.7 7.9 (237.9) (67.5) (74.8) (21.2) (14.4) (21.8) (31.3) (61.0) (34.0) (74.8) (175.3) (18.3) (10.5) (28.2) (5.9) (26.3) 6.0 6.0 1.3 1.3
EPS (Diluted) 0.28 0.36 0.23 0.20 0.10 -3.20 -0.93 -1.04 -0.33 -0.23 -0.33 -0.52 -1.66 -0.91 -2.25 -6.34 -0.56 -0.63 -1.72 -0.36 -1.08 0.27 0.27 0.27 0.27
Balance Sheet
Cash & Equivalents 380.0 288.3 218.3 183.0 186.8 187.9 147.1 233.6 274.5 186.5 252.6 304.0 289.4 309.8 327.9 415.0 0.2 190.8 0.4 42.5 0.7 5.1 5.1 1.3 (14.9)
Total Assets 1,648.6 1,545.9 1,455.4 1,399.0 1,278.4 1,291.1 1,370.8 1,453.0 1,483.2 1,208.4 1,220.2 1,187.1 1,082.4 1,045.1 1,049.6 1,003.9 288.2 590.3 288.6 495.6 288.9 204.3 204.3 51.1 51.1
Total Debt 958.1 922.8 802.4 763.7 678.7 680.8 687.1 753.0 614.7 412.6 493.1 357.7 313.6 212.3 176.2 162.6 0 37.9 0 0 0 0 0 0 0
Stockholders' Equity 529.3 480.0 438.3 366.8 335.5 326.5 462.3 526.0 626.8 559.7 535.9 597.4 527.9 553.5 567.2 581.3 254.0 308.3 251.8 309.3 264.2 109.2 109.2 22.0 57.0
Cash Flow
Operating Cash Flow 43.2 79.8 67.0 57.4 34.4 32.1 (7.1) 9.3 17.7 18.9 16.1 (1.8) (23.7) (2.1) (12.2) (22.8) (2.8) 12.0 28.5 (0.1) (1.3) 4.0 4.0 (1.8) (1.8)
Capital Expenditure (3.2) (3.1) (3.2) (3.8) (3.8) (9.5) (4.2) (4.4) (5.1) (4.6) (5.1) (5.0) (5.5) (4.1) (16.6) (0.1) (1.5) (5.1) (0.6) (0.0) 0.0 (0.3) (0.3) (0.2) (0.2)
Free Cash Flow 40.0 76.7 63.8 53.5 30.7 22.6 (11.3) 4.9 12.6 14.3 11.1 (6.8) (29.2) (6.3) (28.8) (23.0) (4.3) 6.9 27.9 (0.1) (1.3) 3.7 3.7 (2.1) (2.1)