Pagaya Technologies annual operating margin
2020
2021
2022
2023
2024
2025
Pagaya Technologies Operating Margin Growth & History (PGY)
Pagaya Technologies's operating margin was 20.92% for fiscal 2025.
View full Pagaya Technologies company overviewPagaya Technologies annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 20.92% | +14.26 pp |
| 2024 | 2024-12-31 | 6.65% | +9.81 pp |
| 2023 | 2023-12-31 | −3.16% | +33.54 pp |
| 2022 | 2022-12-31 | −36.69% | −35.39 pp |
| 2021 | 2021-12-31 | −1.30% | −24.47 pp |
| 2020 | 2020-12-31 | 23.17% | — |
Pagaya Technologies quarterly operating margin
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 | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 28.94% | +11.16 pp |
| Q1 2026 | 2026-03-31 | 26.76% | +9.89 pp |
| Q4 2025 | 2025-12-31 | 24.83% | +13.32 pp |
| Q3 2025 | 2025-09-30 | 23.52% | +14.55 pp |
| Q2 2025 | 2025-06-30 | 17.77% | +15.70 pp |
| Q1 2025 | 2025-03-31 | 16.87% | +13.62 pp |
| Q4 2024 | 2024-12-31 | 11.51% | +6.45 pp |
| Q3 2024 | 2024-09-30 | 8.98% | +8.90 pp |
| Q2 2024 | 2024-06-30 | 2.07% | +7.59 pp |
| Q1 2024 | 2024-03-31 | 3.24% | +17.50 pp |
| Q4 2023 | 2023-12-31 | 5.06% | — |
| Q3 2023 | 2023-09-30 | 0.08% | — |
| Q2 2023 | 2023-06-30 | −5.51% | — |
| Q1 2023 | 2023-03-31 | −14.25% | — |
Pagaya Technologies operating margin trends
Over the last five reported fiscal years, Pagaya Technologies's operating margin decreased from 23.17% to 20.92%, a change of −2.25 percentage points. The latest reported quarter, Q2 2026, shows 28.94%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Pagaya Technologies filings at SEC.gov ↗