Pagaya Technologies (PGY) FCF Margin (2023 - 2026)
Pagaya Technologies (PGY) recorded FCF Margin of 18.41% in Q2 2026, up 2.00 percentage points from 16.41% a year earlier and up 5.83 percentage points from the prior quarter.
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Analysis
Pagaya Technologies (PGY) FCF Margin (2023 - 2026) Analysis & Trends
On a TTM basis, Pagaya Technologies' FCF Margin came in at 18.11% as of Jun 30, 2026, up 9.72 percentage points year-over-year; for FY2025, it was 17.27%, up 14.36 percentage points from FY2024.
- Annual FCF Margin has increased for three straight years, with a five-year change of +14.08 percentage points (FY2020 to FY2025).
- Across earlier years, FCF Margin came in at 2.91% in FY2024 (+8.06 pp), -5.15% in FY2023 (+3.18 pp), -8.33% in FY2022 (-17.43 pp) and 9.10% in FY2021 (+5.91 pp).
- Quarterly FCF Margin has ranged from -15.64% in Q1 2023 to 22.91% in Q4 2025 over the past five years.
- On a year-over-year basis, FCF Margin has increased for seven consecutive quarters, with an average year-over-year change of +8.45 percentage points over the last eight quarters.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 22.63 percentage points in Q3 2025, against a drop of 9.64 percentage points in Q3 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 12.58% (Q1 2026), 22.91% (Q4 2025) and 18.22% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 50.59 Bn | 7.40 Bn | - | 16.17% |
| 2 | PayPal Holdings | 46.79 Bn | 5.01 Bn | - | 20.44% |
| 3 | Block | 44.05 Bn | 15.31 Bn | 3.17 Bn | 14.61% |
| 4 | Iren | 31.74 Bn | 19.34 Bn | 103.89 Mn | 351.43% |
| 5 | Corpay | 26.01 Bn | 16.21 Bn | - | 105.74% |
| 6 | Fiserv | 24.47 Bn | 21.17 Bn | 2.90 Bn | 18.61% |
| 7 | Global Payments | 22.51 Bn | 952.73 Mn | 2.03 Bn | 12.86% |
| 8 | Bitmine Immersion Technologies | 15.56 Bn | 12.94 Bn | 40.81 Mn | 62.27% |
| 9 | Guidewire Software | 11.90 Bn | 8.47 Bn | 269.68 Mn | 68.54% |
| 10 | Pagaya Technologies | 1.42 Bn | 450.62 Mn | 168.33 Mn | 18.41% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 18.41% |
| Mar 31, 2026 | 12.58% |
| Dec 31, 2025 | 22.91% |
| Sep 30, 2025 | 18.22% |
| Jun 30, 2025 | 16.41% |
| Mar 31, 2025 | 10.57% |
| Dec 31, 2024 | 8.55% |
| Sep 30, 2024 | -4.41% |
| Jun 30, 2024 | 1.96% |
| Mar 31, 2024 | 5.12% |
| Dec 31, 2023 | -7.76% |
| Sep 30, 2023 | 5.23% |
| Jun 30, 2023 | -3.48% |
| Mar 31, 2023 | -15.64% |
API Access
Pagaya Technologies FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=PGY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "PGY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=PGY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();