Pagaya Technologies (PGY) EBITDA Margin (2022 - 2026)
Pagaya Technologies' (PGY) quarterly EBITDA Margin came in at 27.34% in Q2 2026, up 1003.0% year-over-year from 2.48% in Q2 2025, and up 8.63% quarter-over-quarter from 25.16% in Q1 2026.
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Pagaya Technologies (PGY) EBITDA Margin (2022 - 2026) Analysis & Trends
Pagaya Technologies (PGY) has reported EBITDA Margin for 5 consecutive years, with 27.34% the latest figure, recorded in Q2 2026.
- On a quarterly basis, EBITDA Margin rose 1003.0% year-over-year to 27.34% in Q2 2026; TTM through Jun 2026 was 24.86%, a 1113.0% increase from a year earlier, with the FY2025 full-year figure at 20.27%, up 1380.0% from the prior year.
- EBITDA Margin was 27.34% for Q2 2026 at Pagaya Technologies, up from 25.16% in the prior quarter.
- Over five years, EBITDA Margin peaked at 27.34% in Q2 2026 and troughed at 82.97% in Q2 2022.
- A 5-year average of 4.1% and a median of 8.7% in 2024 frame the typical range for EBITDA Margin.
- Across the five-year window, EBITDA Margin soared 7773 bps in 2023 and surged 647 bps in 2024, its largest moves.
- Over 5 years, EBITDA Margin stood at 82.97% in 2022, then jumped by 106 bps to 4.89% in 2023, then surged by 133 bps to 11.36% in 2024, then surged by 110 bps to 23.81% in 2025, then rose by 15 bps to 27.34% in 2026.
- The last three EBITDA Margin figures came in at 27.34% (Q2 2026), 25.16% (Q1 2026), and 23.81% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.61 Bn | 2.16 Bn | 303.39 Mn | 4.01% |
| 2 | Pagaya Technologies | 1.85 Bn | 1.60 Bn | 168.33 Mn | 27.34% |
| 3 | Qfin Holdings | 1.18 Bn | 177.78 Mn | - | 32.44% |
| 4 | FinVolution | 851.66 Mn | -91.39 Mn | - | 15.50% |
| 5 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | -3.09% |
| 6 | Blend Labs | 357.46 Mn | 312.60 Mn | 24.89 Mn | -4.66% |
| 7 | X Financial | 221.20 Mn | -347.11 Mn | 84.09 Mn | 19.55% |
| 8 | LexinFintech Holdings | 143.88 Mn | 143.88 Mn | 73.06 Mn | 34.29% |
| 9 | Jiayin | 80.95 Mn | 6.93 Mn | - | -33.35% |
| 10 | Antalpha Platform Holding | 76.01 Mn | -885.41 Mn | 11.94 Mn | -224.67% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 27.34% |
| Mar 31, 2026 | 25.16% |
| Dec 31, 2025 | 23.81% |
| Sep 30, 2025 | 22.83% |
| Jun 30, 2025 | 17.30% |
| Mar 31, 2025 | 16.44% |
| Dec 31, 2024 | 11.36% |
| Sep 30, 2024 | 8.70% |
| Jun 30, 2024 | 2.01% |
| Mar 31, 2024 | 3.14% |
| Dec 31, 2023 | 4.89% |
| Sep 30, 2023 | 0.08% |
| Jun 30, 2023 | -5.23% |
| Mar 31, 2023 | -13.38% |
| Jun 30, 2022 | -82.97% |