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MARKETS / NASDAQ / PGY
NASDAQ · FINANCE SERVICES · LARGE CAP

Pagaya Technologies Ltd. PGY

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.3B
▲ 25.6% YoY
$81.4M
$224.7M
▲ 648.7% YoY
In brief

What this company does

Since its inception, its network has processed more than $3.6 trillion in loan applications across its consumer credit asset classes. As of December 31, 2025, it had a total of 518 employees, referred to internally as "Pagayans," across the globe. Its business began in personal loans and has expanded to auto loans, point-of-sale financing and single-family rental (SFR). Its flagship product allows Partners to automatically send rejected loan applications to its network for a second look, letting Partners approve customers they would otherwise decline without incremental risk. Investors can invest in funds, securitization vehicles, and other financing vehicles managed, sponsored or administered by Pagaya, as well as special purpose vehicles established by third-party investors to facilitate the purchase of assets under forward flow agreements. Pagaya Technologies Ltd. was incorporated on March 20, 2016 and is organized under the laws of the State of Israel.

Written from the business description in Pagaya Technologies Ltd.'s annual report to the U.S. Securities and Exchange Commission, filed 1 June 2026. Every sentence was checked against that document before publication.

Growth
USD 1.3B
Revenue, FY2025 · full 6-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.3 · Net income 0.1
0.5B1.0B-0.2B-0.4B202020212022202320242025
Compound annual growth
+22.5%
+68.9%
+41.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +68.9% a year over five years — but profit grew slower: net income at +41.3%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
6 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 20.9% · Net 5.7%
10%20%-20%-40%202020212022202320242025
ROE
FY2025 · ROE 20.2%
-2000%-4000%-6000%202020212022202320242025

Each USD of equity produced 20 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 224.7
80.0M160.0M-25.0M-50.0M202020212022202320242025

Total assetsUSD 1.5B
EquityUSD 480.0M
CashUSD 235.3M
Gross debtUSD 193.9M
Net debtUSD -41.4M

The company holds more cash than debt.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020
Revenue $B1.31.00.80.70.40.1
Operating income $B0.30.1−0.0−0.3−0.00.0
EBITDA $B0.30.1−0.0−0.2−0.00.0
Income tax $B−0.00.00.00.00.00.0
Net income $B0.1−0.4−0.1−0.3−0.10.0
Free cash flow $B0.20.0−0.0−0.10.00.0
EPS, diluted $0.93−5.66−2.14−8.22−8.250.02
Dividend / sh $······
Payout %······
ROE %20.2−90.6−23.1−109.0−7055.0·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 21 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 68 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityFinance Services
Listed onNASDAQ
Incorporated inoutside the United States — SEC code L3
Fiscal year endsDecember 31
Data on record since2020

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