Pagaya Technologies (PGY) Net Margin (2022 - 2026)
Pagaya Technologies' (PGY) quarterly Net Margin came in at 10.94% in Q2 2026, up 615.0% year-over-year from 1.53% in Q2 2025, and up 43.94% quarter-over-quarter from 7.6% in Q1 2026.
Analysis
Pagaya Technologies (PGY) Net Margin (2022 - 2026) Analysis & Trends
Pagaya Technologies (PGY) has reported Net Margin for 5 consecutive years, with 10.94% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Net Margin rose 615.0% year-over-year to 10.94% in Q2 2026; TTM through Jun 2026 was 8.4%, a 3289.0% increase from a year earlier, with the FY2025 full-year figure at 5.48%, up 4437.0% from the prior year.
- Net Margin was 10.94% for Q2 2026 at Pagaya Technologies, up from 7.6% in the prior quarter.
- Over five years, Net Margin peaked at 10.94% in Q2 2026 and troughed at 99.58% in Q2 2022.
- A 5-year average of 18.44% and a median of 8.65% in 2024 frame the typical range for Net Margin.
- Across the five-year window, Net Margin sank 6588 bps in 2024 and surged 9383 bps in 2025, its largest moves.
- Over 5 years, Net Margin stood at 99.58% in 2022, then soared by 81 bps to 19.28% in 2023, then slumped by 342 bps to 85.16% in 2024, then jumped by 110 bps to 8.67% in 2025, then climbed by 26 bps to 10.94% in 2026.
- The last three Net Margin figures came in at 10.94% (Q2 2026), 7.6% (Q1 2026), and 8.67% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.61 Bn | 2.16 Bn | 303.39 Mn | 4.53% |
| 2 | Pagaya Technologies | 1.85 Bn | 1.60 Bn | 168.33 Mn | 10.94% |
| 3 | Qfin Holdings | 1.18 Bn | 177.78 Mn | - | 11.38% |
| 4 | FinVolution | 851.66 Mn | -91.39 Mn | - | 19.31% |
| 5 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | -2.24% |
| 6 | Blend Labs | 357.46 Mn | 312.60 Mn | 24.89 Mn | -18.94% |
| 7 | X Financial | 221.20 Mn | -347.11 Mn | 84.09 Mn | 4.73% |
| 8 | LexinFintech Holdings | 143.88 Mn | 143.88 Mn | 73.06 Mn | 3.18% |
| 9 | Jiayin | 80.95 Mn | 6.93 Mn | - | -34.35% |
| 10 | Antalpha Platform Holding | 76.01 Mn | -885.41 Mn | 11.94 Mn | -102.75% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 10.94% |
| Mar 31, 2026 | 7.60% |
| Dec 31, 2025 | 8.67% |
| Sep 30, 2025 | 6.08% |
| Jun 30, 2025 | 4.79% |
| Mar 31, 2025 | 2.55% |
| Dec 31, 2024 | -85.16% |
| Sep 30, 2024 | -26.23% |
| Jun 30, 2024 | -29.87% |
| Mar 31, 2024 | -8.65% |
| Dec 31, 2023 | -19.28% |
| Sep 30, 2023 | -7.87% |
| Jun 30, 2023 | -16.00% |
| Mar 31, 2023 | -24.63% |
| Jun 30, 2022 | -99.58% |