Pagaya Technologies Ltd. (PGY) intrinsic value & 10-year financials
Pagaya Technologies Ltd. (PGY) has a Graham intrinsic value of $30.89 per share. At $17.23 on Oct 17, 2026, the stock trades 44% below that value. Over the last 7 fiscal years revenue grew 68.9% a year to $1.3B, with an average return on invested capital of -73.3%.
- Graham intrinsic value
- $30.89
- Share price (Oct 17, 2026)
- $17.23
- Price vs Graham value
- 44% below
- Market cap
- $1.4B
- Revenue (FY2025)
- $1.3B
- Revenue growth (7-yr CAGR)
- 68.9%
- ROIC (10-yr avg)
- -73.3%
- Free cash flow (FY2025)
- $224.7M
PGY 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.3B | $81.4M | $0.93 | $224.7M | 20.9% | — |
| FY2024 | $1.0B | -$401.4M | -$5.66 | $48.8M | 6.7% | 14.1% |
| FY2023 | $772.8M | -$128.4M | -$2.14 | -$10.6M | -3.2% | -6.0% |
| FY2022 | $685.4M | -$302.3M | -$0.69 | -$62.4M | -36.7% | -304.5% |
| FY2021 | $445.9M | -$91.2M | -$0.69 | $43.2M | -1.3% | 3.1% |
| FY2020 | $91.7M | $14.5M | $0.02 | $3.2M | 23.2% | — |
| FY2019 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Pagaya Technologies Ltd. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Pagaya Technologies Ltd. has historically struggled to out-earn its cost of capital, averaging just 2.0% ROIC.
Pagaya Technologies Ltd. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Pagaya Technologies Ltd. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $30.89 per share.