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PAGAYA TECHNOLOGIES LTD -A (PGY) Stock Fundamental Analysis

USA - NASDAQ:PGY - IL0011858912 - Common Stock

30.5 USD
+1.1 (+3.74%)
Last: 10/6/2025, 12:37:59 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to PGY. PGY was compared to 281 industry peers in the Software industry. PGY may be in some trouble as it scores bad on both profitability and health. PGY is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year PGY has reported negative net income.
In the past year PGY had a positive cash flow from operations.
In the past 5 years PGY reported 4 times negative net income.
PGY had a positive operating cash flow in 4 of the past 5 years.
PGY Yearly Net Income VS EBIT VS OCF VS FCFPGY Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 0 -100M -200M -300M -400M

1.2 Ratios

PGY has a worse Return On Assets (-20.18%) than 72.24% of its industry peers.
The Return On Equity of PGY (-64.03%) is worse than 73.67% of its industry peers.
With an excellent Return On Invested Capital value of 10.92%, PGY belongs to the best of the industry, outperforming 86.83% of the companies in the same industry.
Industry RankSector Rank
ROA -20.18%
ROE -64.03%
ROIC 10.92%
ROA(3y)-23.94%
ROA(5y)-18.43%
ROE(3y)-59.08%
ROE(5y)-43.26%
ROIC(3y)N/A
ROIC(5y)N/A
PGY Yearly ROA, ROE, ROICPGY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 0 -20 -40 -60 -80 -100

1.3 Margins

With a decent Operating Margin value of 13.73%, PGY is doing good in the industry, outperforming 79.36% of the companies in the same industry.
PGY has a worse Gross Margin (42.26%) than 72.95% of its industry peers.
In the last couple of years the Gross Margin of PGY has declined.
Industry RankSector Rank
OM 13.73%
PM (TTM) N/A
GM 42.26%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-6.22%
GM growth 5YN/A
PGY Yearly Profit, Operating, Gross MarginsPGY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 0 20 -20 40 -40

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2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so PGY is still creating some value.
Compared to 1 year ago, PGY has more shares outstanding
PGY has a worse debt/assets ratio than last year.
PGY Yearly Shares OutstandingPGY Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 50M 100M 150M 200M
PGY Yearly Total Debt VS Total AssetsPGY Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

Based on the Altman-Z score of 1.78, we must say that PGY is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of PGY (1.78) is comparable to the rest of the industry.
The Debt to FCF ratio of PGY is 7.20, which is on the high side as it means it would take PGY, 7.20 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 7.20, PGY is in line with its industry, outperforming 52.67% of the companies in the same industry.
PGY has a Debt/Equity ratio of 1.23. This is a high value indicating a heavy dependency on external financing.
PGY has a Debt to Equity ratio of 1.23. This is in the lower half of the industry: PGY underperforms 76.51% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF 7.2
Altman-Z 1.78
ROIC/WACC1.23
WACC8.87%
PGY Yearly LT Debt VS Equity VS FCFPGY Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 200M 400M 600M

2.3 Liquidity

A Current Ratio of 1.42 indicates that PGY should not have too much problems paying its short term obligations.
PGY has a Current ratio (1.42) which is in line with its industry peers.
A Quick Ratio of 1.42 indicates that PGY should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.42, PGY perfoms like the industry average, outperforming 47.69% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.42
Quick Ratio 1.42
PGY Yearly Current Assets VS Current LiabilitesPGY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 100M 200M 300M 400M

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6

3. Growth

3.1 Past

PGY shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -64.47%.
PGY shows a strong growth in Revenue. In the last year, the Revenue has grown by 24.59%.
PGY shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 29.57% yearly.
EPS 1Y (TTM)-64.47%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%119.23%
Revenue 1Y (TTM)24.59%
Revenue growth 3Y29.57%
Revenue growth 5YN/A
Sales Q2Q%30.38%

3.2 Future

The Earnings Per Share is expected to grow by 34.06% on average over the next years. This is a very strong growth
PGY is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 18.62% yearly.
EPS Next Y113.92%
EPS Next 2Y51.72%
EPS Next 3Y34.06%
EPS Next 5YN/A
Revenue Next Year28.31%
Revenue Next 2Y22.12%
Revenue Next 3Y18.62%
Revenue Next 5YN/A

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
PGY Yearly Revenue VS EstimatesPGY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
PGY Yearly EPS VS EstimatesPGY Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 0 2 -2 -4

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for PGY. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 18.38, the valuation of PGY can be described as rather expensive.
79.00% of the companies in the same industry are more expensive than PGY, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 23.32. PGY is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE N/A
Fwd PE 18.38
PGY Price Earnings VS Forward Price EarningsPGY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, PGY is valued cheaper than 85.77% of the companies in the same industry.
77.94% of the companies in the same industry are more expensive than PGY, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 23.12
EV/EBITDA 14.8
PGY Per share dataPGY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as PGY's earnings are expected to grow with 34.06% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y51.72%
EPS Next 3Y34.06%

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0

5. Dividend

5.1 Amount

No dividends for PGY!.
Industry RankSector Rank
Dividend Yield N/A

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PAGAYA TECHNOLOGIES LTD -A

NASDAQ:PGY (10/6/2025, 12:37:59 PM)

30.5

+1.1 (+3.74%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)08-07 2025-08-07/bmo
Earnings (Next)11-10 2025-11-10/bmo
Inst Owners65.42%
Inst Owner Change0%
Ins Owners2.03%
Ins Owner Change-35.56%
Market Cap2.34B
Analysts84.29
Price Target41.31 (35.44%)
Short Float %19.65%
Short Ratio2.82
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)68.52%
Min EPS beat(2)-6.37%
Max EPS beat(2)143.41%
EPS beat(4)1
Avg EPS beat(4)-375.17%
Min EPS beat(4)-1261.55%
Max EPS beat(4)143.41%
EPS beat(8)1
Avg EPS beat(8)-1299.72%
EPS beat(12)2
Avg EPS beat(12)-907.01%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)1.62%
Min Revenue beat(2)0.72%
Max Revenue beat(2)2.51%
Revenue beat(4)4
Avg Revenue beat(4)1.69%
Min Revenue beat(4)0.58%
Max Revenue beat(4)2.96%
Revenue beat(8)7
Avg Revenue beat(8)1.83%
Revenue beat(12)11
Avg Revenue beat(12)4.16%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)79.75%
EPS NQ rev (1m)-6.41%
EPS NQ rev (3m)-65.36%
EPS NY rev (1m)6.4%
EPS NY rev (3m)-67.47%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)9.88%
Revenue NY rev (1m)-0.15%
Revenue NY rev (3m)5.94%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 18.38
P/S 2.03
P/FCF 23.12
P/OCF 19.1
P/B 5.3
P/tB 5.73
EV/EBITDA 14.8
EPS(TTM)-3.24
EYN/A
EPS(NY)1.66
Fwd EY5.44%
FCF(TTM)1.32
FCFY4.32%
OCF(TTM)1.6
OCFY5.24%
SpS15.05
BVpS5.76
TBVpS5.32
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -20.18%
ROE -64.03%
ROCE 13.83%
ROIC 10.92%
ROICexc 13%
ROICexgc 13.47%
OM 13.73%
PM (TTM) N/A
GM 42.26%
FCFM 8.76%
ROA(3y)-23.94%
ROA(5y)-18.43%
ROE(3y)-59.08%
ROE(5y)-43.26%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-6.22%
GM growth 5YN/A
F-Score4
Asset Turnover0.82
Health
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF 7.2
Debt/EBITDA 2.88
Cap/Depr 69.32%
Cap/Sales 1.85%
Interest Coverage 250
Cash Conversion 64.73%
Profit Quality N/A
Current Ratio 1.42
Quick Ratio 1.42
Altman-Z 1.78
F-Score4
WACC8.87%
ROIC/WACC1.23
Cap/Depr(3y)180.79%
Cap/Depr(5y)346.68%
Cap/Sales(3y)2.58%
Cap/Sales(5y)2.05%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-64.47%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%119.23%
EPS Next Y113.92%
EPS Next 2Y51.72%
EPS Next 3Y34.06%
EPS Next 5YN/A
Revenue 1Y (TTM)24.59%
Revenue growth 3Y29.57%
Revenue growth 5YN/A
Sales Q2Q%30.38%
Revenue Next Year28.31%
Revenue Next 2Y22.12%
Revenue Next 3Y18.62%
Revenue Next 5YN/A
EBIT growth 1Y572.63%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year534.68%
EBIT Next 3Y107.6%
EBIT Next 5YN/A
FCF growth 1Y242.09%
FCF growth 3Y0.07%
FCF growth 5YN/A
OCF growth 1Y406.81%
OCF growth 3Y10.12%
OCF growth 5YN/A