Pagaya Technologies Ltd. (PGY)

Nasdaq: PGY · Finance Services · New York, NY · filing with the SEC since 2021

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Grade6.5

◀ Past 6.7● Present 6.9▶ Future 5.5

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Pagaya Technologies Ltd.

Nine metrics read from its own filings, by tense

Headline grade

6.5/10

◀ Past6.740% of the headline

● Present6.935% of the headline

▶ Future5.525% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.7/1040% of the headline grade · 3 of 3 filed

Surviving crises

as filed

8.4/10

Has it survived what it has been through?

No warning events in its filings since 2021.

weight 45% of this tense · 84th percentile among 130 sector filers · read for itself

From the record

Pagaya Technologies Ltd.'s filings since 2021 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

7.9/10

What has it actually done, year after year?

+67.4% a year over 6 filed years; profitable in 2 of 6.

weight 22% of this tense · 79th percentile among 104 sector filers · read for its customers

From the record

Pagaya Technologies Ltd.'s 6 filed years say what it did: revenue went from $99 million in fiscal 2020 to $1.3 billion in fiscal 2025, up 67.4% a year; it rose in 5 of 5 years; it never fell from a peak; net income was positive in 2 of 6 of those years (its annual reports).

What it rests on

revenue growth over the filed span67.4%top 16% of its family
the share of years revenue rosetop 13% of its family
the share of filed years with a profittop 43% of its family
the deepest fall from a revenue peak0.0%top 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

3.5/10

How has it treated the people who own it?

Share count grew 29.5% a year. 0% of cash flow returned. Insiders: 35 sales, 2 purchases.

weight 33% of this tense · 35th percentile among 53 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Pagaya Technologies Ltd.'s diluted share count grew about 29.5% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 35 sales (5 under scheduled 10b5-1 plans) and 2 purchases of their own stock on the open market in the year to 2026-11-12, buying about $501 thousand (their Form 4 filings).

What it rests on

the share count over the yearsbottom 48% of its family
cash returned against operating cash flowbottom 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.9/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

6.8/10

Is it financially healthy right now?

ROE 15%: 15¢ of profit per shareholder dollar. Leverage 64%: owes 64¢ per asset dollar.

weight 45% of this tense · 68th percentile among 117 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Pagaya Technologies Ltd. earned about 15 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 36 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 64 cents per dollar of assets, and net share issuance: its share count grew 17.2% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 39% of its family
return on equitytop 14% of its family
gross profit against assetstop 8% of its family
the share count against the year beforetop 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

7.4/10

How strong is its position in its industry?

top 26% of 114 in its family; net margin 6.3%.

weight 33% of this tense · 74th percentile among 114 sector filers · read for its customers

From the record

Pagaya Technologies Ltd.'s standing among 114 graded names in its industry family: revenue of $1.3 billion in fiscal 2025 ranks in the top 10% by size; a net margin of 6.3% ranks in the top 25%; revenue growth of 20.2% a year over the last 3 filed years ranks in the top 44% (its annual reports).

What it rests on

revenue against the family$1.30Btop 10% of its family
net margin6.3%top 25% of its family
three-year revenue growth20.2%top 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

6.6/10

What are the people in charge doing?

SI estimate 6.6/10, confidence 35 of 100 (one part).

weight 22% of this tense · 66th percentile among 92 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 34% of 92 in its family; the record of its people begins on 2024-04-09 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.6 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read: The record of its people begins on 2024-04-09 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.6 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 92 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Pagaya Technologies Ltd.'s leadership is put at 6.6 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 34% of 92 in its family; the record of its people begins on 2024-04-09 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.6 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.5/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed

5.9/10

How much room does it have to grow?

top 41% of 108 in its family for room to expand.

weight 33% of this tense · 59th percentile among 108 sector filers · read for itself

From the record

Pagaya Technologies Ltd.'s room to grow, from the newest filed statements (fiscal 2025): cash of $288 million against no long-term debt tagged leaves 18.7% of its assets as net cash, top 24% of its family; cash from operations less capital spending is 17.3% of revenue (top 20%); a gross margin of 42.4% (bottom 45%); research spending of 5.8% of revenue (bottom 35%) (its annual report).

What it rests on

cash less debt against assets18.7%top 24% of its family
cash from operations less capital spending against revenue17.3%top 20% of its family
gross margin42.4%bottom 45% of its family
research spending against revenue5.8%bottom 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.5/10

What could actually drive growth from here?

bottom 35% of 100 in its family for growth drivers.

weight 33% of this tense · 35th percentile among 100 sector filers · read for its customers

From the record

Pagaya Technologies Ltd.'s growth drivers, from the filed years to fiscal 2025: revenue grew 20.2% a year over the last three filed years against 67.4% over all 6, slowing (bottom 11% of its family); the newest year grew 26.1% (top 36%); research spending grew -20.7% a year (bottom 32%); capital spending grew -14.7% a year (bottom 34%) (its annual reports). Pagaya Technologies Ltd. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-47.2 points a yearbottom 11% of its family
the newest year's revenue growth26.1%top 36% of its family
three-year growth of research spending-20.7%bottom 32% of its family
three-year growth of capital spending-14.7%bottom 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

7.2/10

Did its newest year beat what its own record pointed to?

top 28% of 78 in its family for expectations against reality.

weight 33% of this tense · 72nd percentile among 78 sector filers · read for its shareholders

From the record

Pagaya Technologies Ltd.'s newest year against its own record: revenue of $1.3 billion in fiscal 2025 came in 7.4% above the $1.2 billion its prior three years' pace pointed to (top 46% of its family); net income of $81 million against a prior three-year average of $277 million (top 14%); a net margin of 6.3% against -31.7% before (top 25%) (its annual reports).

What it rests on

revenue against the prior three years' pace7.4%top 46% of its family
net income against the prior three years' average+129%top 14% of its family
net margin against its prior average+37.9 pointstop 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton PGY · research, not advice