Pagaya Technologies (PGY) Stock Analysis & Winston Score

Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and the Cayman Islands. It develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. Its partners include high-growth financial technology companies, incumbent financial institutions, auto finance providers, and brokers. The company was founded in 2016 and is headquartered in Tel Aviv, Israel.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+186.6% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

42.5%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$380M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Pagaya Technologies is a rare growth stock that's already generating positive cash flow while growing at 12%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

44.2%

Healthy — 44.2% gross margin

Operating Margin

25.2%

Excellent — 25.2% operating margin

ROCE

5.5%

Weak — 5.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+23.5%

Fast-growing sales (23.5% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

252%

Turns 252% of profit into real cash

FCF Margin

18.1%

Converts sales into free cash efficiently (18.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

1.75

Elevated debt (1.75)

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

15.0x

no trend

Fair value — P/E 15.0

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+1.5

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Not applicable for this business.

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