Pagaya Technologies annual free cash flow
2020
2021
2022
2023
2024
2025
Pagaya Technologies Free Cash Flow (FCF) History (PGY)
Pagaya Technologies reported $224.7M in free cash flow for fiscal 2025, an increase of 648.71% from the previous fiscal year, with a free cash flow margin of 17.82%.
View full Pagaya Technologies company overviewPagaya Technologies free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $224.7M | $194.7M | +648.71% | +17.82% |
| 2024 | 2024-12-31 | $30.0M | $71.9M | — | +2.99% |
| 2023 | 2023-12-31 | −$41.8M | $20.6M | — | −5.42% |
| 2022 | 2022-12-31 | −$62.4M | −$105.6M | — | −9.10% |
| 2021 | 2021-12-31 | $43.2M | $40.0M | +1266.68% | +9.69% |
| 2020 | 2020-12-31 | $3.2M | — | — | +3.44% |
Pagaya Technologies quarterly free cash flow
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $71.3M | $17.7M | +33.06% | +19.49% |
| Q1 2026 | 2026-03-31 | $40.0M | $9.4M | +30.53% | +13.38% |
| Q4 2025 | 2025-12-31 | $76.7M | $52.8M | +221.26% | +23.89% |
| Q3 2025 | 2025-09-30 | $63.8M | $75.1M | — | +18.77% |
| Q2 2025 | 2025-06-30 | $53.5M | $48.6M | +989.52% | +16.85% |
| Q1 2025 | 2025-03-31 | $30.7M | $18.1M | +143.96% | +10.84% |
| Q4 2024 | 2024-12-31 | $23.9M | $40.8M | — | +8.66% |
| Q3 2024 | 2024-09-30 | −$11.3M | −$22.4M | — | −4.55% |
| Q2 2024 | 2024-06-30 | $4.9M | $11.7M | — | +2.03% |
| Q1 2024 | 2024-03-31 | $12.6M | $41.8M | — | +5.30% |
| Q4 2023 | 2023-12-31 | −$16.9M | — | — | −8.04% |
| Q3 2023 | 2023-09-30 | $11.1M | — | — | +5.50% |
| Q2 2023 | 2023-06-30 | −$6.8M | — | — | −3.67% |
| Q1 2023 | 2023-03-31 | −$29.2M | — | — | −16.66% |
Pagaya Technologies free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $3.2M to $224.7M, a compound annual growth rate of 134.63%. Pagaya Technologies's latest reported quarter, Q2 2026, generated $71.3M in free cash flow, an increase of 33.06% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Pagaya Technologies filings at SEC.gov ↗