Pagaya Technologies Ltd's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Pagaya Technologies Ltd (PGY) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Pagaya Technologies Ltd vs Its Competitors
- TTM: Trailing 12-month revenue of 1,430M vs -M combined for its competitors (100.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+9.2% annualized vs trailing 12 months).
- Scale: Pagaya Technologies Ltd ranks #28 of 119 companies by market capitalization in the Miscellaneous Financial Services industry, holding 0.3% of industry market cap.
- Peer revenue share: Pagaya Technologies Ltd accounted for 100.0% of combined revenue among its tracked peer group, up from 100.0% a year earlier.
- Peer differentiation: Revenue per employee of $2.76M compares with $0.04M for the peer group (65.0x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
PGY Sales vs. its Competitors, Q3 2026
Pagaya Technologies Ltd generated 100.00 % of the combined sales of its peer group, up from 100.00 % a year earlier.
For context: the Miscellaneous Financial Services industry grew revenue 355.0% year over year, combined, vs 11.5% for Pagaya Technologies Ltd. Pagaya Technologies Ltd's share of combined industry revenue moved from 0.43% to 0.10%, a loss of 0.32 percentage points.
Pagaya Technologies Ltd's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Pagaya Technologies Ltd | Yes | Yes | Yes | No |
| Competitors combined (1) | - | - | - | |
| Similar-Size Competitors (9) | ||||
| Similar Growth & Profitability (8) | 85.70 % (6 of 7) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 50.00 % (4 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
PGY Stock Performance relative to its Competitors
PGY Stock Performance relative to Similar-Size Competitors
PGY Stock Performance relative to Similar Growth & Profitability Competitors
Pagaya Technologies Ltd's Comment on Competition and Industry Peers
Publicly Traded Peers of Pagaya Technologies Ltd
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Pagaya Technologies Ltd |
1,752.85 | 1,430.29 |
 Strategic Acquisitions Inc |
17.74 | 0.08 |
| SUBTOTAL | 1,770.59 | 1,430.37 |
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Pagaya Technologies Ltd versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Pagaya Technologies Ltd's Competitors Named by the Company
Competitive relationships identified from Pagaya Technologies Ltd reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Strategic Acquisitions Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Pagaya Technologies Ltd's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Pagaya Technologies Ltd's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Pagaya Technologies Ltd | 1,753 | 2,761,170 | 280,442 |
| Strategic Acquisitions Inc | 18 | 42,456 | -37,956 |
| PEERS TOTAL | 18 | 42,456 | -37,956 |
Pagaya Technologies Ltd's Position in Industry Market Structure
Market-capitalization share and concentration across all 102 companies in Pagaya Technologies Ltd's industry classification, broader than the peer set above. Market cap in millions of $.Pagaya Technologies Ltd ranks #28 of 102 companies by market capitalization in its industry, holding 0.28 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,587, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | American Express Company | 221,015 | 36.03 % |
| 2 | Nu Holdings Ltd | 56,974 | 9.29 % |
| 3 | Strategy Inc | 47,814 | 7.80 % |
| 4 | Coinbase Global Inc | 38,313 | 6.25 % |
| 5 | Federal National Mortgage Association Fannie Mae | 1,234 | 5.2% |
| 6 | Synchrony Financial | 1,234 | 5.2% |
| 7 | Sofi Technologies Inc | 1,234 | 5.2% |
| 8 | Circle Internet Group Inc | 1,234 | 5.2% |
| 9 | Eason Technology Limited | 1,234 | 5.2% |
| 10 | Federal Home Loan Mortgage Corporation | 1,234 | 5.2% |
| 28 | Pagaya Technologies Ltd | 1,726 | 0.28 % |
Market cap and industry share for the rest of Pagaya Technologies Ltd's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-03.
Pagaya Technologies Ltd's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 23 | Sprott Inc | 2,747 | 26.25 % |
| 24 | Mara Holdings Inc | 2,732 | -63.96 % |
| 25 | Upstart Holdings Inc | 2,345 | -55.97 % |
| 26 | Cleanspark Inc | 2,183 | -58.26 % |
| 27 | Wealthfront Corporation | 1,234 | 12.3% |
| 28 | Pagaya Technologies Ltd | 1,726 | -32.74 % |
| 29 | Strive Inc | 1,234 | 12.3% |
| 31 | Perella Weinberg Partners | 1,234 | 12.3% |
| 32 | Qfin Holdings Inc | 1,234 | 12.3% |
| 33 | Keel Infrastructure Corp | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Pagaya Technologies Ltd's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-03. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Pagaya Technologies Ltd's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Miscellaneous Financial Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (92 companies). See the full Miscellaneous Financial Services industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 81.71 % | 33.49 % (avg) | +48.2 pp |
| Operating Margin | 24.86 % | industry median | +24.7 pp |
| EBITDA Margin | 9.10 % | 4.50 % (avg) | +4.6 pp |
| Capital Intensity (Capex / Revenue) | - | 4.25 % (avg) | - |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Pagaya Technologies Ltd's Valuation vs Competitive Position
Valuation multiples vs the Miscellaneous Financial Services industry average (92 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Miscellaneous Financial Services industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 10.1x | 27.9x | -17.8x |
| EV / EBITDA | 16.7x | 12.6x | +4.1x |
| P/B | 2.6x | 3.1x | -0.5x |
| Return on Equity | 22.67 % | industry aggregate | 23.93 % |
| Return on Invested Capital | 15.68 % | -2.20 % (avg) | 17.88 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Pagaya Technologies Ltd's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue Growth | 8.43 % | 27.12 % | 26.07 % |
| Operating Margin | -7.32 % | 6.48 % | 20.27 % |
| Return on Invested Capital | -3.13 % | 3.40 % | 14.66 % |
| P/E | - | - | 27.4x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Pagaya Technologies Ltd's Strategic Group Map
Pagaya Technologies Ltd is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Pagaya Technologies Ltd's trailing-12-month revenue growth of 20.6% and operating margin of 24.9% compares with an average of 25.2% growth and 21.0% margin across its 8 closest peers by combined growth, margin and ROIC -- Pagaya Technologies Ltd sits below that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Pagaya Technologies Ltd's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Pagaya Technologies Ltd falls in the Dog quadrant: relative market share of 0.01x vs its largest competitor, in an industry growing revenue 2.9% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: American Express Company alone holds 36% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Pagaya Technologies Ltd's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,587 (see Industry Market Structure & Concentration above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Pagaya Technologies Ltd's dedicated Suppliers and Customers pages, not here.
Pagaya Technologies Ltd's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Pagaya Technologies Ltd falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Pagaya Technologies Ltd's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 24.7 points above the industry median.
- Return on equity 23.9 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+9.2% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.01x).
Opportunities
- Trades at a lower P/E than the industry average (10.1x vs 27.9x) despite a higher return on invested capital -- a possible re-rating opportunity.
- A meaningful share of competitors (100.00 %) show financial-distress signals, a possible opening to gain share.
Threats
- Industry dominated by American Express Company, holding 36.03 % of industry market cap.
Methodology: see Methodology: SWOT Analysis.
Pagaya Technologies Ltd's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Pagaya Technologies Ltd | 2.81 | 13.58 | 1.72 |
| Strategic Acquisitions Inc | 5.55 | 7.82 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Pagaya Technologies Ltd's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Pagaya Technologies Ltd | Q3 2026 | +11.5 % | +113.7 % |
| Strategic Acquisitions Inc | Q2 2026 | - | - |
| PEERS TOTAL | +11.5 % | +113.6 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Pagaya Technologies Ltd's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Pagaya Technologies Ltd | Q3 2026 | +7.5 % | +1.3 % |
| Strategic Acquisitions Inc | Q2 2026 | - | - |
Pagaya Technologies Ltd's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Pagaya Technologies Ltd | 8.69% | 7.92% | 25.00% |
| Strategic Acquisitions Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Pagaya Technologies Ltd's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Pagaya Technologies Ltd | 9.04 | 1.23 |
| Strategic Acquisitions Inc | - | 208.97 |
| PEERS AVERAGE | 12.19 | 1.24 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.