PagSeguro Digital Ltd. (PAGS) intrinsic value & 10-year financials
PagSeguro Digital Ltd. (PAGS) has a Graham intrinsic value of $222.39 per share. At $8.39 on Oct 27, 2026, the stock trades 96% below that value. Over the last 10 fiscal years revenue grew 44.7% a year to $18.8B, with an average return on invested capital of 29.4%.
- Graham intrinsic value
- $222.39
- Share price (Oct 27, 2026)
- $8.39
- Price vs Graham value
- 96% below
- Market cap
- $2.7B
- Revenue (FY2024)
- $18.8B
- Revenue growth (10-yr CAGR)
- 44.7%
- ROIC (10-yr avg)
- 29.4%
- Free cash flow (FY2024)
- -$4.5B
PAGS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2024 | $18.8B | $2.1B | $6.70 | -$4.5B | — | 14.7% |
| FY2023 | $15.9B | $1.7B | $5.14 | $3.0B | — | 16.1% |
| FY2022 | $15.3B | $1.5B | $4.60 | $2.5B | — | 15.3% |
| FY2021 | $10.4B | $1.2B | $3.53 | -$74.3M | — | 13.4% |
| FY2020 | $6.8B | $1.3B | $3.92 | $629.9M | — | 16.8% |
| FY2019 | $5.7B | $1.4B | $4.15 | $151.3M | — | 18.7% |
| FY2018 | $4.3B | $910.4M | $2.86 | -$1.8B | — | 113.3% |
| FY2017 | $2.5B | $478.8M | $1.83 | $445.7M | — | 61.6% |
| FY2016 | $1.1B | $127.8M | $0.48 | $75.0M | — | 17.0% |
| FY2015 | $674.9M | $35.5M | — | $44.4M | — | 7.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
PagSeguro Digital Ltd. is a consistent compounder, expanding top-line revenue at 44.7% annually over the past decade.
PagSeguro Digital Ltd. has earned high returns on invested capital, averaging 33.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, PagSeguro Digital Ltd. shows that management has aggressively returned capital to shareholders by retiring 99.9% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, PagSeguro Digital Ltd. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $222.39 per share.