Pagaya Technologies (PGY) Free Cash Flow (2023 - 2026)
Pagaya Technologies' (PGY) quarterly Free Cash Flow came in at $71.3 million in Q2 2026, up 33.06% year-over-year from $53.6 million in Q2 2025, and up 78.1% quarter-over-quarter from $40.0 million in Q1 2026.
Analysis
Pagaya Technologies (PGY) Free Cash Flow (2023 - 2026) Analysis & Trends
Pagaya Technologies (PGY) has reported Free Cash Flow for 4 consecutive years, with $71.3 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Free Cash Flow rose 33.06% year-over-year to $71.3 million in Q2 2026; TTM through Jun 2026 was $251.8 million, a 160.27% increase from a year earlier, with the FY2025 full-year figure at $224.7 million, up 648.71% from the prior year.
- Free Cash Flow was $71.3 million for Q2 2026 at Pagaya Technologies, up from $40.0 million in the prior quarter.
- Over five years, Free Cash Flow peaked at $76.7 million in Q4 2025 and troughed at -$29.2 million in Q1 2023.
- A 4-year average of $23.2 million and a median of $18.2 million in 2024 frame the typical range for Free Cash Flow.
- Across the five-year window, Free Cash Flow slumped 202.36% in 2024 and jumped 989.52% in 2025, its largest moves.
- Over 4 years, Free Cash Flow stood at -$16.9 million in 2023, then jumped by 241.11% to $23.9 million in 2024, then soared by 221.26% to $76.7 million in 2025, then dropped by 7.11% to $71.3 million in 2026.
- The last three Free Cash Flow figures came in at $71.3 million (Q2 2026), $40.0 million (Q1 2026), and $76.7 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.61 Bn | 2.16 Bn | 303.39 Mn | -140.82 Mn |
| 2 | Pagaya Technologies | 1.85 Bn | 1.60 Bn | 168.33 Mn | 71.25 Mn |
| 3 | Qfin Holdings | 1.18 Bn | 177.78 Mn | - | 159.36 Mn |
| 4 | FinVolution | 851.66 Mn | -91.39 Mn | - | -57.27 Mn |
| 5 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | -1.05 Mn |
| 6 | Blend Labs | 357.46 Mn | 312.60 Mn | 24.89 Mn | 6.91 Mn |
| 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 | 71.25 Mn |
| Mar 31, 2026 | 40.01 Mn |
| Dec 31, 2025 | 76.71 Mn |
| Sep 30, 2025 | 63.81 Mn |
| Jun 30, 2025 | 53.55 Mn |
| Mar 31, 2025 | 30.65 Mn |
| Dec 31, 2024 | 23.88 Mn |
| Sep 30, 2024 | -11.34 Mn |
| Jun 30, 2024 | 4.92 Mn |
| Mar 31, 2024 | 12.56 Mn |
| Dec 31, 2023 | -16.92 Mn |
| Sep 30, 2023 | 11.08 Mn |
| Jun 30, 2023 | -6.81 Mn |
| Mar 31, 2023 | -29.20 Mn |