Pagaya Technologies (PGY) Operating Margin (2022 - 2026)
Pagaya Technologies (PGY) posted quarterly Operating Margin of 27.34% for Q2 2026, up 1003.0% year-over-year from 2.48% in Q2 2025, and up 8.63% quarter-over-quarter from 25.16% in Q1 2026.
Pagaya Technologies (PGY) Operating Margin (2022 - 2026) Analysis & Trends
Pagaya Technologies (PGY) has reported Operating Margin for 5 consecutive years, with 27.34% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin rose 1003.0% year-over-year to 27.34%; the TTM figure through Jun 2026 stood at 24.86% (up 1113.0% YoY), while the FY2025 annual figure was 20.27%, up 1380.0% from the prior year.
- Operating Margin advanced to 27.34% in Q2 2026 per PGY's latest filing, from 25.16% in the prior quarter.
- Across five years, Operating Margin topped out at 27.34% in Q2 2026 and bottomed at 82.97% in Q2 2022.
- Historically, Operating Margin has averaged 4.1% across 5 years, with a median of 8.7% in 2024.
- Annual changes were most pronounced in 2023 — Operating Margin jumped 7773 bps — and 2024, when it soared 647 bps.
- Pagaya Technologies' Operating Margin stood at 82.97% in 2022, then soared by 106 bps to 4.89% in 2023, then jumped by 133 bps to 11.36% in 2024, then jumped by 110 bps to 23.81% in 2025, then advanced by 15 bps to 27.34% in 2026.
- Business Quant data shows PGY's Operating Margin at 27.34% in Q2 2026, 25.16% in Q1 2026, and 23.81% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 45.11% |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 47.12% |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | 31.97% |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | -6.10% |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 33.66% |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | -29.55% |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 8.43% |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | -1.90% |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 6.75% |
| 10 | Pagaya Technologies | 1.70 Bn | 1.45 Bn | 168.33 Mn | 27.34% |
Historic Data
Download 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% |