Pagaya Technologies (PGY) Operating Margin (2022 - 2026)
Pagaya Technologies' Operating Margin was 27.34% in Q2 2026, up 10.03 percentage points from 17.30% a year earlier and up 2.17 percentage points from the prior quarter.
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Analysis
Pagaya Technologies (PGY) Operating Margin (2022 - 2026) Analysis & Trends
On a trailing twelve-month basis, Pagaya Technologies' Operating Margin was 24.86% through Jun 30, 2026, up 11.13 percentage points year-over-year; for FY2025, it was 20.27%, up 13.80 percentage points from FY2024.
- Operating Margin has now increased for three consecutive years, though with a five-year change of -1.19 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 6.48% in FY2024 (+9.48 pp), -3.00% in FY2023 (+30.58 pp), -33.58% in FY2022 (-32.36 pp) and -1.22% in FY2021 (-22.69 pp).
- The Q2 2026 figure marks the highest quarterly Operating Margin in data going back to Q2 2022.
- Compared with a year earlier, Operating Margin has increased for ten straight quarters, with an average year-over-year change of +11.13 percentage points over the last eight quarters.
- Over the past five years, the year-over-year gain in Operating Margin ranged from 6.47 percentage points (Q4 2024) to 77.73 percentage points (Q2 2023).
- Per Business Quant data, PGY's Operating Margin in the three quarters before Q2 2026 was 25.16% (Q1 2026), 23.81% (Q4 2025) and 22.83% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 50.59 Bn | 7.40 Bn | - | -9.30% |
| 2 | PayPal Holdings | 46.79 Bn | 5.01 Bn | - | 16.44% |
| 3 | Block | 44.05 Bn | 15.31 Bn | 3.17 Bn | 6.75% |
| 4 | Iren | 31.74 Bn | 19.34 Bn | 103.89 Mn | -452.09% |
| 5 | Corpay | 26.01 Bn | 16.21 Bn | - | 35.28% |
| 6 | Fiserv | 24.47 Bn | 21.17 Bn | 2.90 Bn | 19.18% |
| 7 | Global Payments | 22.51 Bn | 952.73 Mn | 2.03 Bn | 10.15% |
| 8 | Bitmine Immersion Technologies | 15.56 Bn | 12.94 Bn | 40.81 Mn | -25.50% |
| 9 | Guidewire Software | 11.90 Bn | 8.47 Bn | 269.68 Mn | 15.16% |
| 10 | Pagaya Technologies | 1.42 Bn | 450.62 Mn | 168.33 Mn | 27.34% |
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% |
API Access
Pagaya Technologies Operating 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=operating-margin&ticker=PGY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=PGY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();