PGY Chart
About

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial services and other service providers, their customers, and asset investors in the United States, Israel, and the Cayman Islands. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. Its partners include financial technology companies, incumbent banks and financial institutions, auto finance providers, and residential real estate service providers. The company was incorporated in 2016 and is headquartered in New York, New York.

Fundamentals
Scroll to Statements
Sector Technology Industry Software - Infrastructur Market Cap 928.57M
Enterprise Value 682.26M Income 81.39M Sales 1.30B
Book/sh 5.86 Cash/sh 14.41 Dividend Yield —
Payout 0.00% Employees — IPO —
P/E — Forward P/E 3.47 PEG —
P/S 0.71 P/B 1.97 P/C —
EV/EBITDA 2.32 EV/Sales 0.52 Quick Ratio 13.71
Current Ratio 14.26 Debt/Eq 146.64 LT Debt/Eq —
EPS (ttm) -2.76 EPS next Y 3.33 EPS Growth —
Revenue Growth 19.80% Earnings 2026-05-07 ROA 11.62%
ROE 12.96% ROIC — Gross Margin 42.43%
Oper. Margin 23.81% Profit Margin 6.25% Shs Outstand 69.11M
Shs Float 61.78M Short Float 24.84% Short Ratio 3.78
Short Interest — 52W High 44.99 52W Low 8.50
Beta 5.88 Avg Volume 3.76M Volume 561.60K
Target Price $27.55 Recom Strong_buy Prev Close $10.97
Price $11.55 Change 5.29%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$27.55
Mean price target
2. Current target
$10.97
Latest analyst target
3. DCF / Fair value
$60.16
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$10.97
Low
$20.00
High
$33.00
Mean
$27.55

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-12 main Citigroup Buy → Buy $32
2026-02-10 main Jefferies Buy → Buy $30
2026-02-10 main Benchmark Buy → Buy $33
2026-02-10 main Canaccord Genuity Buy → Buy $32
2026-01-20 main Jefferies Buy → Buy $35
2026-01-02 main Keefe, Bruyette & Woods Outperform → Outperform $35
2025-11-11 main Canaccord Genuity Buy → Buy $39
2025-10-01 reit Benchmark Buy → Buy $48
2025-08-11 main B. Riley Securities Buy → Buy $54
2025-08-11 main JMP Securities Market Outperform → Market Outperform $35
2025-08-11 main Canaccord Genuity Buy → Buy $36
2025-08-08 main Benchmark Buy → Buy $48
2025-08-08 main Keefe, Bruyette & Woods Outperform → Outperform $38
2025-07-21 main Citigroup Buy → Buy $40
2025-07-18 main Benchmark Buy → Buy $42
2025-07-09 main Keefe, Bruyette & Woods Outperform → Outperform $27
2025-07-02 main Oppenheimer Outperform → Outperform $25
2025-06-24 reit JMP Securities Market Outperform → Market Outperform $26
2025-03-25 reit Citizens Capital Markets Market Perform → Market Perform $26
2025-03-17 main B. Riley Securities Buy → Buy $36
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 3945 90696.0 — Sale at price 22.99 per share. DAS SANJIV President — 2026-01-05 00:00:00 D
1 9750 224152.0 — Sale at price 22.99 per share. PERROS EVANGELOS Chief Financial Officer — 2026-01-05 00:00:00 D
2 8 nan — — DAS SANJIV President — 2025-12-31 00:00:00 D
3 22766 nan — — PERROS EVANGELOS Chief Financial Officer — 2025-12-31 00:00:00 D
4 7561 172769.0 — Sale at price 22.85 per share. ROSEN TAMI Officer and Director — 2025-12-19 00:00:00 D
5 568 12695.0 — Sale at price 22.35 per share. DAS SANJIV President — 2025-12-12 00:00:00 D
6 23750 nan — — DAS SANJIV President — 2025-12-12 00:00:00 D
7 8064 180230.0 — Sale at price 22.35 per share. ROSEN TAMI Officer and Director — 2025-12-12 00:00:00 D
8 15625 nan — — ROSEN TAMI Officer and Director — 2025-12-12 00:00:00 D
9 11592 259081.0 — Sale at price 22.35 per share. PERROS EVANGELOS Chief Financial Officer — 2025-12-12 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-964.53K102.69K1.21M-41.85K
TaxRateForCalcs0.210.210.210.27
NormalizedEBITDA72.49M-45.00M-314.48M-33.56M
TotalUnusualItems-4.59M489.00K5.76M-155.00K
TotalUnusualItemsExcludingGoodwill-4.59M489.00K5.76M-155.00K
NetIncomeFromContinuingOperationNetMinorityInterest-401.41M-128.44M-302.32M-91.15M
ReconciledDepreciation28.75M19.13M6.29M815.00K
ReconciledCostOfRevenue597.65M508.94M451.08M232.32M
EBITDA67.89M-44.51M-308.73M-33.72M
EBIT39.14M-63.64M-315.02M-34.53M
NetInterestIncome32.29M38.75M57.76M28.88M
InterestIncome32.29M38.75M57.76M28.88M
NormalizedIncome-397.78M-128.82M-306.87M-91.04M
NetIncomeFromContinuingAndDiscontinuedOperation-401.41M-128.44M-302.32M-91.15M
TotalExpenses965.41M836.45M1.00B480.40M
TotalOperatingIncomeAsReported66.84M-24.40M-251.50M-5.81M
DilutedAverageShares70.88M60.04M58.30M56.61M
BasicAverageShares70.88M60.04M38.25M56.61M
DilutedEPS-5.66-2.14-8.28-2.37
BasicEPS-5.66-2.14-8.28-2.37
DilutedNIAvailtoComStockholders-401.41M-128.44M-314.53M-134.32M
AverageDilutionEarnings0.00
NetIncomeCommonStockholders-401.41M-128.44M-314.53M-134.32M
OtherunderPreferredStockDividend0.000.0012.21M43.17M
NetIncome-401.41M-128.44M-302.32M-91.15M
MinorityInterests44.29M68.30M-9.55M-21.63M
NetIncomeIncludingNoncontrollingInterests-445.70M-196.74M-292.77M-69.52M
NetIncomeContinuousOperations-445.70M-196.74M-292.77M-69.52M
TaxProvision24.58M15.57M16.40M7.88M
PretaxIncome-421.12M-181.17M-276.37M-61.65M
OtherIncomeExpense-492.56M-156.28M-19.11M-55.99M
OtherNonOperatingIncomeExpenses-487.96M-156.77M-24.87M-55.84M
GainOnSaleOfSecurity-4.59M489.00K5.76M-155.00K
NetNonOperatingInterestIncomeExpense32.29M38.75M57.76M28.88M
InterestIncomeNonOperating32.29M38.75M57.76M28.88M
OperatingIncome39.14M-63.64M-315.02M-34.53M
OperatingExpense367.76M327.51M549.35M248.07M
ResearchAndDevelopment76.57M74.38M150.93M66.21M
SellingGeneralAndAdministration291.19M253.12M398.42M181.86M
SellingAndMarketingExpense50.40M49.77M104.20M49.63M
GeneralAndAdministrativeExpense240.78M203.35M294.21M132.24M
OtherGandA240.78M203.35M294.21M132.24M
GrossProfit406.90M263.87M234.33M213.54M
CostOfRevenue597.65M508.94M451.08M232.32M
TotalRevenue1.00B772.81M685.41M445.87M
OperatingRevenue1.00B772.81M685.41M445.87M
Line Item2024-12-312023-12-312022-12-312021-12-31
OrdinarySharesNumber73.88M62.04M56.94M653.91M
ShareIssued73.88M62.04M56.94M653.91M
NetDebt455.83M175.24M
TotalDebt680.81M412.58M212.26M37.91M
TangibleBookValue290.61M546.23M553.52M1.29M
InvestedCapital970.24M921.43M708.15M39.20M
WorkingCapital155.99M228.48M291.80M217.86M
NetTangibleAssets290.61M546.23M553.52M308.34M
CapitalLeaseObligations37.06M50.87M57.63M0.00
CommonStockEquity326.49M559.72M553.52M1.29M
PreferredStockEquity307.05M
TotalCapitalization843.41M883.75M646.32M346.24M
TotalEquityGrossMinorityInterest441.55M665.75M765.42M484.40M
MinorityInterest115.06M106.03M211.90M176.06M
StockholdersEquity326.49M559.72M553.52M308.34M
GainsLossesNotAffectingRetainedEarnings-11.49M444.00K-713.00K0.00
OtherEquityAdjustments-11.49M444.00K-713.00K
RetainedEarnings-944.04M-542.64M-414.20M-111.88M
AdditionalPaidInCapital1.28B1.10B968.43M113.17M
CapitalStock0.000.000.00307.05M
CommonStock0.000.000.000.00
PreferredStock0.00307.05M
TotalLiabilitiesNetMinorityInterest849.53M542.63M279.66M105.86M
TotalNonCurrentLiabilitiesNetMinorityInterest654.03M467.70M151.64M77.19M
OtherNonCurrentLiabilities3.24M1.40M27.47M
PreferredSecuritiesOutsideStockEquity74.25M74.25M0.00307.05M
DerivativeProductLiabilities893.00K3.24M1.40M27.47M
TradeandOtherPayablesNonCurrent31.36M22.24M7.77M11.81M
NonCurrentDeferredLiabilities107.00K568.00K0.00
NonCurrentDeferredTaxesLiabilities107.00K568.00K0.00
LongTermDebtAndCapitalLeaseObligation547.53M367.97M141.90M37.91M
LongTermCapitalLeaseObligation30.61M43.94M49.10M0.00
LongTermDebt516.92M324.03M92.80M37.91M
CurrentLiabilities195.49M74.92M128.02M28.67M
OtherCurrentLiabilities29.04M18.21M35.01M1.90M
CurrentDebtAndCapitalLeaseObligation133.28M44.62M70.36M
CurrentCapitalLeaseObligation6.45M6.93M8.53M0.00
CurrentDebt126.83M37.69M61.83M
OtherCurrentBorrowings126.83M37.69M61.83M
PayablesAndAccruedExpenses33.18M12.10M22.64M26.77M
Payables33.18M12.10M22.64M26.77M
OtherPayable16.33M10.35M14.48M15.19M
TotalTaxPayable9.86M461.00K6.42M0.00
IncomeTaxPayable9.86M461.00K6.42M0.00
AccountsPayable6.99M1.29M1.74M11.58M
TotalAssets1.29B1.21B1.05B590.26M
TotalNonCurrentAssets939.59M904.97M625.26M343.72M
OtherNonCurrentAssets21.42M19.33M4.89M6.80M
NonCurrentPrepaidAssets0.00
NonCurrentDeferredAssets0.0017.65M
NonCurrentDeferredTaxesAssets0.005.68M
NonCurrentAccountsReceivable29.18M34.18M38.77M19.21M
InvestmentsAndAdvances778.25M740.69M488.86M292.42M
InvestmentinFinancialAssets756.32M714.30M462.97M277.58M
AvailableForSaleSecurities756.32M714.30M462.97M277.58M
LongTermEquityInvestment21.93M26.38M25.89M14.84M
GoodwillAndOtherIntangibleAssets35.88M13.49M0.00
OtherIntangibleAssets12.82M2.55M
Goodwill23.06M10.95M0.00
NetPPE74.85M97.29M92.74M7.65M
AccumulatedDepreciation-55.20M-26.73M-7.54M-1.24M
GrossPPE130.05M124.02M100.28M8.88M
Leases1.08M949.00K922.00K681.00K
OtherProperties843.00K765.00K566.00K
MachineryFurnitureEquipment92.09M67.34M37.52M7.64M
BuildingsAndImprovements36.88M55.73M61.08M0.00
Properties0.000.000.000.00
CurrentAssets351.48M303.40M419.82M246.53M
OtherCurrentAssets2.21M3.42M1.38M1.55M
RestrictedCash18.59M16.87M22.54M7.00M
PrepaidAssets7.56M6.71M7.09M3.35M
Receivables127.40M87.42M78.00M33.70M
DuefromRelatedPartiesCurrent15.18M7.90M18.78M1.37M
AccountsReceivable112.22M79.53M59.22M32.33M
CashCashEquivalentsAndShortTermInvestments195.72M188.97M310.80M200.94M
OtherShortTermInvestments7.80M2.49M1.01M10.16M
CashAndCashEquivalents187.92M186.48M309.79M190.78M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow43.28M-10.61M-62.41M43.19M
RepaymentOfDebt-524.43M-261.39M-64.79M0.00
IssuanceOfDebt818.50M468.47M181.51M37.91M
IssuanceOfCapitalStock101.82M102.14M291.87M172.65M
CapitalExpenditure-23.24M-20.19M-22.41M-6.62M
InterestPaidSupplementalData80.32M17.78M4.34M0.00
IncomeTaxPaidSupplementalData4.91M9.17M6.94M2.61M
EndCashPosition226.52M222.54M337.08M204.57M
BeginningCashPosition222.54M337.08M204.57M5.88M
EffectOfExchangeRateChanges-586.00K-515.00K0.000.00
ChangesInCash4.56M-114.02M132.50M198.69M
FinancingCashFlow436.69M289.10M437.92M289.62M
CashFlowFromContinuingFinancingActivities436.69M289.10M437.92M289.62M
NetOtherFinancingCharges37.49M-24.46M27.70M57.52M
ProceedsFromStockOptionExercised3.31M4.33M1.62M21.55M
NetPreferredStockIssuance0.0074.25M0.00172.65M
PreferredStockIssuance0.0074.25M0.00172.65M
NetCommonStockIssuance101.82M27.89M291.87M0.00
CommonStockIssuance101.82M27.89M291.87M0.00
NetIssuancePaymentsOfDebt294.07M207.08M116.73M37.91M
NetShortTermDebtIssuance-55.00M15.00M0.00
ShortTermDebtPayments-55.00M-27.10M0.00
ShortTermDebtIssuance130.00M42.10M0.00
NetLongTermDebtIssuance294.07M207.08M116.73M37.91M
LongTermDebtPayments-524.43M-261.39M-64.79M0.00
LongTermDebtIssuance818.50M468.47M181.51M37.91M
InvestingCashFlow-498.64M-412.69M-265.42M-140.74M
CashFlowFromContinuingInvestingActivities-498.64M-412.69M-265.42M-140.74M
NetOtherInvestingChanges1.61M53.41M
NetInvestmentPurchaseAndSale-466.17M-394.11M-237.72M-120.05M
SaleOfInvestment227.77M172.06M117.92M82.32M
PurchaseOfInvestment-693.94M-566.17M-355.63M-202.37M
NetBusinessPurchaseAndSale-9.24M0.00-5.30M-14.07M
SaleOfBusiness31.00K0.00453.00K8.93M
PurchaseOfBusiness-9.27M0.00-5.75M-22.99M
NetIntangiblesPurchaseAndSale-5.50M0.000.00
PurchaseOfIntangibles-5.50M0.000.00
NetPPEPurchaseAndSale-17.74M-20.19M-22.41M-6.62M
PurchaseOfPPE-17.74M-20.19M-22.41M-6.62M
OperatingCashFlow66.52M9.58M-40.00M49.81M
CashFlowFromContinuingOperatingActivities66.52M9.58M-40.00M49.81M
ChangeInWorkingCapital2.09M-20.89M-41.94M-2.86M
ChangeInOtherWorkingCapital5.02M6.25M5.03M
ChangeInOtherCurrentLiabilities522.00K-3.71M-11.19M0.00
ChangeInOtherCurrentAssets1.11M3.85M7.74M0.00
ChangeInPayablesAndAccruedExpense33.70M-13.20M31.19M24.41M
ChangeInAccruedExpense6.86M-17.77M32.40M13.41M
ChangeInPayable26.84M4.57M-1.21M11.00M
ChangeInAccountPayable5.68M-448.00K-9.84M11.00M
ChangeInTaxPayable21.16M5.02M8.63M8.40M
ChangeInIncomeTaxPayable21.16M5.02M8.63M8.40M
ChangeInPrepaidAssets-9.24M12.91M-23.23M-4.74M
ChangeInReceivables-24.00M-20.74M-46.45M-27.55M
ChangesInAccountReceivables-27.55M
OtherNonCashItems4.11M1.00M
StockBasedCompensation61.50M71.06M241.69M67.78M
AssetImpairmentCharge417.26M136.99M51.92M0.00
DepreciationAmortizationDepletion28.75M19.13M6.29M815.00K
DepreciationAndAmortization28.75M19.13M6.29M815.00K
OperatingGainsLosses-1.49M34.00K-6.19M53.59M
EarningsLossesFromEquityInvestments4.59M-488.00K-5.76M155.00K
GainLossOnInvestmentSecurities-10.27M1.84M-437.00K53.02M
NetForeignCurrencyExchangeGainLoss4.19M-1.32M0.000.00
GainLossOnSaleOfBusiness0.000.00421.00K
NetIncomeFromContinuingOperations-445.70M-196.74M-292.77M-69.52M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for PGY
Date User Asset Broker Type Position Size Entry Price Patterns