Tearsheet

PagSeguro Digital (PAGS)


Market Price (3/30/2026): $9.66 | Market Cap: $2.8 Bil
Sector: Information Technology | Industry: IT Consulting & Other Services

PagSeguro Digital (PAGS)


Market Price (3/30/2026): $9.66
Market Cap: $2.8 Bil
Sector: Information Technology
Industry: IT Consulting & Other Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 86%, Dividend Yield is 6.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 82%, FCF Yield is 100%
Weak multi-year price returns
2Y Excs Rtn is -49%, 3Y Excs Rtn is -34%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1419%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 36%
  Key risks
PAGS key risks include [1] high susceptibility to Brazil's elevated interest rates, Show more.
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 5.0 Bil, FCF LTM is 2.8 Bil
  
3 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Digital Payments, and Online Banking & Lending.
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 86%, Dividend Yield is 6.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 82%, FCF Yield is 100%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 36%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 5.0 Bil, FCF LTM is 2.8 Bil
3 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Digital Payments, and Online Banking & Lending.
4 Weak multi-year price returns
2Y Excs Rtn is -49%, 3Y Excs Rtn is -34%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1419%
6 Key risks
PAGS key risks include [1] high susceptibility to Brazil's elevated interest rates, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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PagSeguro Digital (PAGS) stock has lost about 5% since 11/30/2025 because of the following key factors:

1. Mixed Q4 2025 Earnings Report with Revenue Miss and Tax Impact.

PagSeguro Digital reported mixed results for the fourth quarter of 2025, with earnings per share (EPS) beating the consensus at $0.43, but revenue missed expectations, coming in at $991.8 million against an estimated $1.03 billion. Furthermore, the company's GAAP net income fell 16.2% to R$502 million, primarily due to a R$142 million deferred CSLL charge resulting from a Brazilian tax law change. This mixed financial performance, particularly the revenue shortfall and the tax-related hit to profit, contributed to a stock decline of approximately 4.8% after the earnings release on March 5, 2026.

2. Increased Financial Costs Due to High Brazilian Interest Rates.

A challenging macroeconomic environment in Brazil, characterized by persistently high SELIC interest rates, led to a significant 26.1% increase in PagSeguro's financial costs, which in turn compressed its gross margins. The Central Bank of Brazil maintained a restrictive monetary policy stance, with policy rates reaching 15% by June 2025, contributing to a tougher operating backdrop for the company.

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Stock Movement Drivers

Fundamental Drivers

The -7.0% change in PAGS stock from 11/30/2025 to 3/29/2026 was primarily driven by a -7.0% change in the company's P/E Multiple.
(LTM values as of)113020253292026Change
Stock Price ($)10.379.65-7.0%
Change Contribution By: 
Total Revenues ($ Mil)19,52119,5210.0%
Net Income Margin (%)11.3%11.3%0.0%
P/E Multiple1.41.3-7.0%
Shares Outstanding (Mil)2922920.0%
Cumulative Contribution-7.0%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/29/2026
ReturnCorrelation
PAGS-7.0% 
Market (SPY)-5.3%60.0%
Sector (XLK)-9.1%56.8%

Fundamental Drivers

The 10.2% change in PAGS stock from 8/31/2025 to 3/29/2026 was primarily driven by a 6.9% change in the company's P/E Multiple.
(LTM values as of)83120253292026Change
Stock Price ($)8.769.6510.2%
Change Contribution By: 
Total Revenues ($ Mil)19,30919,5211.1%
Net Income Margin (%)11.4%11.3%0.0%
P/E Multiple1.21.36.9%
Shares Outstanding (Mil)2982922.0%
Cumulative Contribution10.2%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/29/2026
ReturnCorrelation
PAGS10.2% 
Market (SPY)0.6%53.6%
Sector (XLK)-0.7%47.5%

Fundamental Drivers

The 38.3% change in PAGS stock from 2/28/2025 to 3/29/2026 was primarily driven by a 15.0% change in the company's P/E Multiple.
(LTM values as of)22820253292026Change
Stock Price ($)6.989.6538.3%
Change Contribution By: 
Total Revenues ($ Mil)17,60519,52110.9%
Net Income Margin (%)11.4%11.3%-0.4%
P/E Multiple1.11.315.0%
Shares Outstanding (Mil)3182928.8%
Cumulative Contribution38.3%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/29/2026
ReturnCorrelation
PAGS38.3% 
Market (SPY)9.8%46.0%
Sector (XLK)15.9%44.3%

Fundamental Drivers

The 17.4% change in PAGS stock from 2/28/2023 to 3/29/2026 was primarily driven by a 35.2% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820233292026Change
Stock Price ($)8.229.6517.4%
Change Contribution By: 
Total Revenues ($ Mil)14,43319,52135.2%
Net Income Margin (%)9.7%11.3%17.1%
P/E Multiple1.91.3-33.8%
Shares Outstanding (Mil)32729211.9%
Cumulative Contribution17.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/29/2026
ReturnCorrelation
PAGS17.4% 
Market (SPY)69.4%41.4%
Sector (XLK)94.5%34.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PAGS Return-54%-67%43%-50%61%3%-82%
Peers Return-27%-41%60%14%13%-16%-25%
S&P 500 Return27%-19%24%23%16%-5%72%

Monthly Win Rates [3]
PAGS Win Rate42%42%50%33%58%33% 
Peers Win Rate38%42%63%48%52%27% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
PAGS Max Drawdown-58%-71%-19%-50%0%-2% 
Peers Max Drawdown-34%-51%-12%-16%-22%-19% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-5% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: STNE, MELI, NU, PYPL, FISV.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)

How Low Can It Go

Unique KeyEventPAGSS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-88.6%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven778.3%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-59.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven148.4%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven78 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-55.3%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven123.6%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven193 days120 days

Compare to STNE, MELI, NU, PYPL, FISV

In The Past

PagSeguro Digital's stock fell -88.6% during the 2022 Inflation Shock from a high on 2/11/2021. A -88.6% loss requires a 778.3% gain to breakeven.

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About PagSeguro Digital (PAGS)

PagSeguro Digital Ltd., together with its subsidiaries, provides financial technology solutions and services for consumers, individual entrepreneurs, micro-merchants, and small and medium-sized companies in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, a digital ecosystem that operates as a closed loop where its clients are able to address their primary day to day financial needs, including receiving and spending funds, and managing and growing their businesses; PagBank digital account, which offers banking services through the PagBank mobile app, as well as centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem; and PlugPag, a tool for medium-sized and larger merchants that enables them to connect their point of sale (POS) device directly to their enterprise resource planning software or sales automation system through Bluetooth. It also offers cash-in solutions; online and in-person payment tools; and online gaming and cross-border digital services, as well as issues prepaid, credit, and cash cards. In addition, the company provides functionalities, and value-added services and features, such as purchase protection mechanisms, antifraud platform, account and business management tools, and POS app; and operates an online platform that facilitates peer-to-peer lending. Further, it is involved in processing of back-office solutions, including sales reconciliation, and gateway solutions and services, as well as the capture of credit cards with acquirers and sub acquirers. The company was founded in 2006 and is headquartered in São Paulo, Brazil.

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PagSeguro Digital is like a **Square for Brazil**.

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  • PagSeguro Ecosystem: A comprehensive digital ecosystem enabling clients to manage financial needs, receive/spend funds, and grow their businesses.
  • PagBank Digital Account: A mobile-first banking service offering various cash-in/out options and functionalities through the PagBank app.
  • PlugPag: A tool for medium to large merchants to integrate POS devices directly with their ERP or sales automation systems via Bluetooth.
  • Payment Processing & Tools: Provides online and in-person payment tools, cash-in solutions, and credit card capture services.
  • Digital Cards: Issues prepaid, credit, and cash cards for various transaction types.
  • Value-Added Services: Includes features like purchase protection mechanisms, an antifraud platform, and account/business management tools.
  • Peer-to-Peer Lending Platform: An online platform that facilitates direct lending between individuals.
  • Back-office Solutions: Offers services such as sales reconciliation and payment gateway solutions for businesses.
  • Online Gaming & Cross-Border Digital Services: Specific digital services tailored for online gaming and international transactions.

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PagSeguro Digital (PAGS) sells primarily to categories of customers rather than specific large companies. Its major customers can be categorized as follows:

  1. Consumers: Individuals who use PagBank for their day-to-day financial needs, including banking services, receiving and spending funds, issuing prepaid, credit, and cash cards, and engaging in peer-to-peer lending.
  2. Individual Entrepreneurs and Micro-Merchants: Very small businesses, freelancers, and self-employed individuals who utilize PagSeguro's online and in-person payment tools, POS devices, and business management functionalities to process transactions and manage their operations.
  3. Small and Medium-Sized Companies: Businesses that require more comprehensive financial technology solutions, including advanced POS device integration (like PlugPag for connecting to ERP/sales automation systems), payment processing, and back-office solutions.

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Here is the management team for PagSeguro Digital (PAGS):

Carlos Mauad, Chief Executive Officer

Carlos Mauad was appointed Chief Executive Officer of PagSeguro Digital, effective January 1, 2026. He previously served as Chief Operating Officer since September 2024. Mr. Mauad brings over 14 years of experience in the financial and banking sectors, having held CEO positions at Banco Carrefour and MagaluBank. His career also includes experience at Citi and Smiles. He holds a degree in Mechatronics Engineering with a postgraduate degree in Engineering and Mechanical Sciences from UFSC and an MBA from IBMEC.

Gustavo Bahia Gama Sechin, Chief Financial Officer and Chief Accounting Officer

Gustavo Bahia Gama Sechin was appointed Chief Financial Officer and Chief Accounting Officer of PagSeguro Digital, effective January 1, 2026. He served as Investor Relations Director since August 2024. Mr. Sechin has over 25 years of experience in the banking sector, including roles as CFO of subsidiaries at Santander Brasil and CFO and CRO at Getnet. He has also worked at ABN Amro Bank and Votorantim Corretora, and led a proprietary M&A team in Brazil. Gustavo holds an MBA in Finance from FGV.

Ricardo Dutra da Silva, Principal Executive Officer and CEO of UOL Group

Ricardo Dutra da Silva serves as the Principal Executive Officer of PagSeguro Digital Ltd. and has been the CEO of UOL Group, the controlling group of PagSeguro Digital, since October 2022. He previously held the role of Chief Executive Officer of PagSeguro Digital Ltd. from February 2016 until October 2022. Mr. Dutra worked for the UOL Group from 1997 to 2005 in various management positions, rejoining in 2009 as Country Manager at UOL Argentina until 2010. He also worked as a management consultant at Bain & Company from 2007 to 2009. He holds a bachelor's degree in electrical/industrial engineering from FEI, a postgraduate degree in business from FGV, and an MBA from the Darden Graduate School of Business Administration at the University of Virginia.

Eduardo Alcaro, Vice-Chairman of the Board

Eduardo Alcaro is the Vice-Chairman of PagSeguro Digital and also serves as the Chief Financial Officer of UOL Edtech. He has been a member of PagSeguro's board of directors since 2017. Mr. Alcaro previously served as the Chief Financial and Investor Relations Officer and Chief Accounting Officer of PagSeguro Digital from 2011 until 2021, and as the Chief Financial Officer of the UOL group during the same period. His earlier experience includes various financial management and mergers & acquisitions roles at Walmart in both Brazil and the USA. He holds a bachelor's degree in business administration from Getúlio Vargas Foundation (FGV-SP).

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Key Risks to PagSeguro Digital (PAGS)

The primary risks to PagSeguro Digital's business stem from its exposure to the Brazilian economy, the highly competitive fintech landscape, and the inherent risks associated with its expanding credit operations.

  1. Macroeconomic and Interest Rate Sensitivity in Brazil

    PagSeguro's financial performance is significantly influenced by Brazil's macroeconomic environment, particularly the country's high interest rates, such as the SELIC rate. Elevated interest rates increase the company's funding costs, which can lead to higher prices for its services and potentially result in merchant churn, especially among small and medium-sized businesses which form a substantial part of its customer base. Additionally, broader economic challenges in Brazil, such as a tight labor market or weakness in consumer spending, can directly impact transaction volumes and overall revenue for PagSeguro.

  2. Intense Competition

    PagSeguro operates in a fiercely competitive Brazilian fintech market, facing pressure from both established financial institutions and a growing number of emerging fintech companies. This intense competition can lead to margin pressures, necessitate continuous investment in product innovation, and demand aggressive strategies to attract and retain customers in both its digital payments and banking segments.

  3. Credit Risk from Expanding Lending Operations

    PagSeguro's strategy increasingly relies on its credit offerings, including peer-to-peer lending and other credit products, to drive growth. Rapid expansion of its credit portfolio, particularly with what some sources describe as relatively inexperienced credit operations, introduces significant credit risk. This could manifest as higher default rates, increased provisions for doubtful accounts, and potential losses if risk management systems prove insufficient.

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The widespread adoption of Pix, Brazil's instant payment system launched by the Central Bank of Brazil. This system offers instant, free (for individuals) or low-cost (for businesses) transfers and payments, directly competing with and potentially eroding the transaction fee revenues PagSeguro derives from its traditional payment processing and digital banking services. Pix provides a highly efficient, government-backed alternative for both consumers and merchants, potentially reducing the reliance on PagSeguro's proprietary payment ecosystem for certain transactions.

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Addressable Markets for PagSeguro Digital (PAGS)

PagSeguro Digital Ltd. operates primarily in Brazil, offering a comprehensive suite of financial technology solutions and services. The addressable markets for its main products and services within Brazil are substantial:

  • Fintech Market (Brazil): The Brazil fintech market was valued at approximately USD 5.75 billion in 2025 and is projected to reach USD 33.58 billion by 2035, exhibiting a Compound Annual Growth Rate (CAGR) of 19.30% from 2026 to 2035. Another estimate places the market size at USD 5.5 billion in 2025, growing to USD 19.1 billion by 2034 with a CAGR of 14.92% from 2026-2034.
  • Digital Payments Market (Brazil): The Brazil mobile payment market size reached USD 67.0 billion in 2025 and is expected to grow to USD 244.8 billion by 2034, at a CAGR of 15.49% during 2026-2034. The broader Brazil Digital Payment Market was valued at USD 9,946.40 billion in 2024 and is projected to reach USD 35,684.93 billion by 2032, with a CAGR of 33.64% from 2025 to 2032. This figure may represent transactional volume rather than market revenue. The digital payment solutions market in Brazil is projected to grow significantly, with transaction volumes expected to reach USD 200 billion in the future.
  • Digital Banking Market (Brazil): The Brazil digital banking market was valued at USD 2.5 billion in 2025 and is anticipated to reach USD 4.8 billion by 2034, showing a CAGR of 7.51% during the period of 2026-2034. Another report states the Brazil Digital Banking and APIs Market is valued at USD 15 billion, based on a five-year historical analysis.
  • POS (Point-of-Sale) Terminal Market (Brazil): The Brazil POS terminal market size is estimated at USD 6.45 billion in 2025 and is expected to reach USD 8.68 billion by 2030, with a CAGR of 6.12% during the forecast period (2025-2030).
  • Peer-to-Peer (P2P) Lending Market (Brazil): The Brazil peer-to-peer lending market size reached USD 6.1 billion in 2025 and is anticipated to grow to USD 31.6 billion by 2034, exhibiting a CAGR of 20.14% from 2026 to 2034. The Brazil FinTech Online Lending & Credit Platforms Market is valued at approximately USD 10 billion.
  • Prepaid Card and Digital Wallet Market (Brazil): Brazil's prepaid card and digital wallet market is predicted to reach USD 53.42 billion by 2030, growing at an 11.1% CAGR between 2025 and 2029.
  • Online Gaming Market (Brazil): Brazil's online gaming market size was valued at USD 3.46 billion in 2025 and is projected to reach USD 7.01 billion by 2034, with a CAGR of 8.17% from 2026-2034. The online gambling market alone is projected to reach USD 3.7 billion in gross gaming revenue (GGR) by the end of 2025 and rise to USD 5.8 billion by 2027.

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PagSeguro Digital (PAGS) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market trends:

  1. Expansion of Banking and Credit Offerings: PagSeguro's banking segment, PagBank, and its credit portfolio are significant growth engines. The company reported an impressive 51% increase in banking revenues in Q4 2025, and management projects a robust 25-35% credit portfolio growth in 2026. This expansion includes core segments like loans, credit cards, and working capital solutions, and is expected to reach BRL 25 billion by the end of 2029. The integration of payments and banking services, along with the launch of new products such as working capital loans for merchants, is contributing to this growth.
  2. Growth in Total Payment Volume (TPV) and Client Base: PagSeguro continues to expand its Total Payment Volume (TPV) and client base, particularly among small and medium-sized businesses in Brazil. The company reported a TPV of BRL 124 billion in Q2 2024, marking a 34.2% year-over-year increase, significantly outpacing the broader card industry's growth rate. PagSeguro also successfully added 1.5 million new clients in Q2 2025, expanding its total client base to 33.1 million.
  3. Successful Implementation of Repricing Strategies: The company has been executing repricing strategies for its acquiring products to enhance profitability and offset higher financial costs. These initiatives, which began rolling out in Q4 2024, have been instrumental in securing a more sustainable revenue base. This strategy has led to revenue growth outpacing TPV, indicating its effectiveness in boosting profitability.
  4. Increased Monetization and Engagement within the Ecosystem: PagSeguro is focused on stronger engagement and higher monetization from its existing client base. This involves generating more revenue from deposit volumes and increasing fee generation, particularly from card usage and various account-related services offered through its digital ecosystem. This strategy aims to maximize the value extracted from each customer by offering a broader range of financial services within its closed-loop ecosystem.

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Share Repurchases

  • PagSeguro Digital's board of directors authorized a share repurchase program of up to US$200 million in outstanding Class A common shares on August 29, 2024, with no fixed expiration date.
  • Under a buyback program announced on May 29, 2025, the company repurchased 17,922,208 shares for $165.49 million by December 31, 2025.
  • Management executed buybacks of over 27 million shares in 2025. The company is planning major buybacks for 2026.

Share Issuance

  • PagSeguro Digital has shown a decrease in shares outstanding by -6.77% in one year, indicating net repurchases rather than issuances.

Capital Expenditures

  • Capital expenditures (CapEx) for 2025 were BRL 2.3 billion.
  • The guidance for CapEx in 2026 is BRL 1.8–2.0 billion. An updated guidance forecasts 2026 CAPEX estimates to be between BRL 2.2 billion and BRL 2.3 billion.
  • The company's expansion into digital banking, including PagBank, suggests a primary focus for capital expenditures to support its end-to-end digital ecosystem.

Better Bets vs. PagSeguro Digital (PAGS)

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FSLR_2272026_Dip_Buyer_ValueBuy02272026FSLRFirst SolarDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
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PEGA_2272026_Dip_Buyer_ValueBuy02272026PEGAPegasystemsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

PAGSSTNEMELINUPYPLFISVMedian
NamePagSegur.StoneCo MercadoL.Nu PayPal Fiserv  
Mkt Price9.6513.461,599.5213.6043.5953.9028.60
Mkt Cap2.83.681.165.840.628.934.8
Rev LTM19,52114,53328,8939,60033,17221,19320,357
Op Inc LTM7,0656,9793,201-6,3965,6986,396
FCF LTM2,803-1,53710,7733,6665,5644,2993,982
FCF 3Y Avg600-1,7277,4871,9685,5174,3783,173
CFO LTM5,034-33412,1164,0406,4166,0625,548
CFO 3Y Avg2,726-5558,3912,1886,2365,9524,339

Growth & Margins

PAGSSTNEMELINUPYPLFISVMedian
NamePagSegur.StoneCo MercadoL.Nu PayPal Fiserv  
Rev Chg LTM10.9%23.5%39.1%22.3%4.3%3.6%16.6%
Rev Chg 3Y Avg10.6%21.3%38.9%62.1%6.4%6.1%16.0%
Rev Chg Q4.5%16.0%44.6%30.2%3.7%0.6%10.2%
QoQ Delta Rev Chg LTM1.1%3.3%10.3%7.1%0.9%0.2%2.2%
Op Mgn LTM36.2%48.0%11.1%-19.3%26.9%26.9%
Op Mgn 3Y Avg34.5%48.3%12.8%-18.0%27.0%27.0%
QoQ Delta Op Mgn LTM1.6%0.4%-0.9%-0.1%-1.8%0.1%
CFO/Rev LTM25.8%-2.3%41.9%42.1%19.3%28.6%27.2%
CFO/Rev 3Y Avg15.6%-4.0%38.0%21.7%19.7%29.4%20.7%
FCF/Rev LTM14.4%-10.6%37.3%38.2%16.8%20.3%18.5%
FCF/Rev 3Y Avg3.4%-13.5%34.0%18.7%17.4%21.6%18.1%

Valuation

PAGSSTNEMELINUPYPLFISVMedian
NamePagSegur.StoneCo MercadoL.Nu PayPal Fiserv  
Mkt Cap2.83.681.165.840.628.934.8
P/S0.10.22.86.91.21.41.3
P/EBIT0.43.427.0-6.05.05.0
P/E1.3-3.240.626.07.88.38.0
P/CFO0.6-10.76.716.36.34.85.5
Total Yield85.6%-30.9%2.5%3.8%12.9%12.0%7.9%
Dividend Yield6.9%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-0.2%-75.3%8.2%2.8%8.2%7.0%4.9%
D/E14.94.50.10.00.21.00.6
Net D/E14.22.40.1-0.4-0.01.00.5

Returns

PAGSSTNEMELINUPYPLFISVMedian
NamePagSegur.StoneCo MercadoL.Nu PayPal Fiserv  
1M Rtn-9.0%-19.9%-9.0%-9.2%-5.7%-13.5%-9.1%
3M Rtn-0.2%-9.2%-20.3%-18.9%-27.1%-20.1%-19.5%
6M Rtn-1.6%-28.1%-35.2%-13.8%-34.9%-58.4%-31.5%
12M Rtn28.3%22.5%-21.9%31.4%-32.7%-75.1%0.3%
3Y Rtn21.1%42.0%26.3%182.7%-41.1%-52.3%23.7%
1M Excs Rtn-1.4%-11.9%-0.3%-1.9%3.6%-5.1%-1.6%
3M Excs Rtn8.1%-0.1%-11.8%-10.6%-19.1%-12.6%-11.2%
6M Excs Rtn1.8%-23.9%-32.2%-10.2%-30.8%-54.5%-27.4%
12M Excs Rtn13.4%6.7%-34.4%13.0%-48.9%-87.2%-13.9%
3Y Excs Rtn-34.2%-14.7%-27.0%153.0%-102.8%-113.4%-30.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Financial service agents15,68015,15910,2996,6865,581
Total15,68015,15910,2996,6865,581


Price Behavior

Price Behavior
Market Price$9.65 
Market Cap ($ Bil)2.8 
First Trading Date01/24/2018 
Distance from 52W High-19.6% 
   50 Days200 Days
DMA Price$10.52$9.50
DMA Trendupup
Distance from DMA-8.2%1.6%
 3M1YR
Volatility50.8%50.9%
Downside Capture1.691.11
Upside Capture386.03156.76
Correlation (SPY)66.7%44.8%
PAGS Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta2.862.372.171.861.131.26
Up Beta1.671.692.262.631.251.21
Down Beta3.541.381.311.710.610.87
Up Capture257%409%295%220%194%264%
Bmk +ve Days9203170142431
Stock +ve Days9233463121372
Down Capture333%234%225%148%118%110%
Bmk -ve Days12213054109320
Stock -ve Days12182656123369

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PAGS
PAGS25.0%50.9%0.61-
Sector ETF (XLK)22.4%26.8%0.7343.3%
Equity (SPY)14.5%18.9%0.5944.8%
Gold (GLD)50.2%27.7%1.4615.4%
Commodities (DBC)17.8%17.6%0.8519.0%
Real Estate (VNQ)0.4%16.4%-0.1524.5%
Bitcoin (BTCUSD)-23.7%44.2%-0.4935.6%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PAGS
PAGS-26.6%61.2%-0.26-
Sector ETF (XLK)15.4%24.6%0.5641.9%
Equity (SPY)11.8%17.0%0.5445.0%
Gold (GLD)20.7%17.7%0.966.7%
Commodities (DBC)11.6%18.9%0.5011.4%
Real Estate (VNQ)3.0%18.8%0.0733.1%
Bitcoin (BTCUSD)4.0%56.6%0.2923.4%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PAGS
PAGS-10.0%61.4%0.05-
Sector ETF (XLK)20.8%24.3%0.7949.1%
Equity (SPY)14.0%17.9%0.6751.1%
Gold (GLD)13.3%15.8%0.707.6%
Commodities (DBC)8.2%17.6%0.3919.5%
Real Estate (VNQ)4.7%20.7%0.1939.7%
Bitcoin (BTCUSD)66.4%66.8%1.0620.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date3132026
Short Interest: Shares Quantity18.6 Mil
Short Interest: % Change Since 22820260.2%
Average Daily Volume6.0 Mil
Days-to-Cover Short Interest3.1 days
Basic Shares Quantity291.9 Mil
Short % of Basic Shares6.4%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

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Report DateFiling DateFiling
09/30/202511/12/20256-K
06/30/202508/13/20256-K
03/31/202505/13/20256-K
12/31/202404/29/202520-F
09/30/202411/13/20246-K
06/30/202408/20/20246-K
03/31/202405/23/20246-K
12/31/202304/29/202420-F
09/30/202311/17/20236-K
06/30/202308/24/20236-K
03/31/202305/25/20236-K
12/31/202204/28/202320-F
09/30/202211/22/20226-K
06/30/202208/25/20226-K
03/31/202206/08/20226-K
12/31/202105/02/202220-F