Pagaya Technologies (PGY) FCF Margin (2023 - 2026)
Pagaya Technologies' (PGY) quarterly FCF Margin came in at 18.41% in Q2 2026, up 200.0% year-over-year from 6.14% in Q2 2025, and up 46.3% quarter-over-quarter from 12.58% in Q1 2026.
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Pagaya Technologies (PGY) FCF Margin (2023 - 2026) Analysis & Trends
Pagaya Technologies (PGY) has reported FCF Margin for 4 consecutive years, with 18.41% the latest figure, recorded in Q2 2026.
- On a quarterly basis, FCF Margin rose 200.0% year-over-year to 18.41% in Q2 2026; TTM through Jun 2026 was 18.11%, a 972.0% increase from a year earlier, with the FY2025 full-year figure at 17.27%, up 1436.0% from the prior year.
- FCF Margin was 18.41% for Q2 2026 at Pagaya Technologies, up from 12.58% in the prior quarter.
- Over five years, FCF Margin peaked at 22.91% in Q4 2025 and troughed at 15.64% in Q1 2023.
- A 4-year average of 6.33% and a median of 6.89% in 2023 frame the typical range for FCF Margin.
- Across the five-year window, FCF Margin sank 964 bps in 2024 and soared 2263 bps in 2025, its largest moves.
- Over 4 years, FCF Margin stood at 7.76% in 2023, then surged by 210 bps to 8.55% in 2024, then soared by 168 bps to 22.91% in 2025, then declined by 20 bps to 18.41% in 2026.
- The last three FCF Margin figures came in at 18.41% (Q2 2026), 12.58% (Q1 2026), and 22.91% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.61 Bn | 2.16 Bn | 303.39 Mn | -38.61% |
| 2 | Pagaya Technologies | 1.85 Bn | 1.60 Bn | 168.33 Mn | 18.41% |
| 3 | Qfin Holdings | 1.18 Bn | 177.78 Mn | - | 30.32% |
| 4 | FinVolution | 851.66 Mn | -91.39 Mn | - | -11.42% |
| 5 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | -5.14% |
| 6 | Blend Labs | 357.46 Mn | 312.60 Mn | 24.89 Mn | 20.43% |
| 7 | X Financial | 221.20 Mn | -347.11 Mn | 84.09 Mn | - |
| 8 | LexinFintech Holdings | 143.88 Mn | 143.88 Mn | 73.06 Mn | - |
| 9 | Jiayin | 80.95 Mn | 6.93 Mn | - | - |
| 10 | Antalpha Platform Holding | 76.01 Mn | -885.41 Mn | 11.94 Mn | - |
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% |