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PagSeguro Digital Ltd.

PAGS Technology Software Infrastructure

PagSeguro Digital Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $3.7 billion, up 4.82% from fiscal 2024.

Revenue
+12.6%
EPS
+21.9%
Free cash flow
−67.1%
Total debt
−51.3%

Quarter to June 2026, against a year earlier

7.65 0.27 −3.41%
Market cap
$2.1B
P/E
5.3×
Fwd P/E
5.3×
Dividend yield
7.06%
F-score
6/9
Altman Z
1.28
Beneish M
−2.82
Dividend safety
80/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 4.97
Sold, $m 9.43
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell — — — — 1 — — 2 — — 5 —
Insider Ownership 45.79%

Capital & Financial Ratios $m

Size
Market Cap 2,130.00
Revenue ttm 3,890.78
Net income ttm 492.42
Free cash flow ttm 714.45
Net debt Q 22.01
Valuation
P/E 5.35
Forward P/E 5.33
Price / sales 0.54
Forward P/S Powerpack
Price / FCF 2.96
Price / book 0.71
Financial health
Current ratio Q 1.55 (at or above 1.5: strong)
Debt / equity Q 0.10 (at or below 0.5: strong)
Interest coverage Q 1.54
Growth
Revenue growth Q +12.61% (above 0%: growing)
Operating income growth Q +12.01% (above 0%: growing)
EPS, this year +9.26%
EPS, next year A +7.66%
Revenue, next year A +7.27%
EPS, past 5 yrs +10.81%
EPS, next 5 yrs A +6.12%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.5×, against a ten-year median of 1.3×; over the ten years it ranged from 0.5× in 2024 to 14.2× in 2021.
P/E against its own 10 years 0.91%
10-year low 10-year high
P/S against its own 10 years 0.10%
10-year low 10-year high
P/B against its own 10 years 0.09%
10-year low 10-year high
EV/Sales against its own 10 years 1.27%
10-year low 10-year high
EV/FCF against its own 10 years 7.75%
10-year low 10-year high

Dividends

Yield
7.06%
Annual rate
0.54
Payout ratio
37.8%
  1. 0.26 ’25
  2. 0.92 ’26e +252
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,243 262 438 274
Receivables 8,510 10,824 10,425 11,837
Inventory 7 0 — —
Other — 894 766 927
9,760 11,981 11,630 13,039
2023 2024 2025 Q'26
Payables 103 123 109 97
ST’ Debt 38 838 436 296
Other 2,309 4,649 5,875 5,880
6,897 7,925 8,558 8,410

Compound Annual Growth %

10y 5y 3y
Sales — 22.56% 7.16%
Cash Flow — 26.53% 25.36%
Earnings — 8.65% 9.19%
Book Value — 7.70% 4.56%

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.40 Actual 0.41

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.35 0.36 Beat by 0.01
Dec 2025 0.42 0.43 Beat by 0.01
Mar 2026 0.40 0.39 Miss by 0.01
Jun 2026 0.40 0.41 Beat by 0.01
Sep 2026 0.41 — Reports 16 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.37 0.39 — — —
’25 0.29 0.32 0.35 0.32 1.27
’24 0.30 0.30 0.30 0.33 1.13
’23 0.22 0.24 0.26 0.31 1.02
’22 0.20 0.22 0.22 0.24 0.87
’21 0.15 0.16 0.19 0.16 0.65
’20 0.24 0.17 0.15 0.21 0.76
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 951 1,005 — — —
’25 828 893 937 997 3,656
’24 869 873 871 874 3,487
’23 722 773 825 875 3,194
’22 656 795 770 750 2,970
’21 378 447 531 579 1,936
’20 359 253 332 379 1,322
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 177 207 — — —
’25 208 402 425 320 1,354
’24 490 (898) (100) (126) (633)
’23 77 97 202 425 801
’22 55 50 198 384 687
’21 (3) 79 71 20 166
’20 238 (21) (50) 251 418
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 69 100 — — —
’25 97 304 323 222 947
’24 378 (1,014) (192) (235) (1,064)
’23 (2) (14) 91 328 403
’22 (75) (75) 118 306 274
’21 (76) 1 (13) (69) (158)
’20 158 (71) (161) 94 21
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 326 790 1,186 1,446 1,322 1,936 2,970 3,194 3,487 3,656 3,891 +30.8% 3,921 4,148 4,124 +4.1%
Gross margin, % 45.21 47.52 50.52 51.60 44.64 44.72 51.28 49.01 49.26 52.49 53.30 +7.3 pt
EBT 45 214 333 485 344 276 341 404 441 457 491 +29.5%
EBT margin, % 13.65 27.09 28.09 33.51 26.04 14.24 11.47 12.65 12.65 12.49 12.61 (1.2) pt
Net income 45 214 333 485 344 276 341 404 441 457 492 +29.5%
Per share, $
Per share, $ Revenue 1.24 3.01 3.73 4.41 4.01 5.86 9.08 9.93 11.03 12.38 14.06 +29.1%
Earnings 0.14 0.57 0.75 1.01 0.76 0.65 0.87 1.03 1.13 1.28 1.43 +27.9%
Cash flow 0.08 0.54 (1.52) 0.37 1.27 0.50 2.10 2.49 (2.00) 4.59 4.08 +55.9%
Capex (0.08) (0.13) (0.22) (0.54) (1.21) (0.98) (1.27) (1.24) (1.36) (1.38) (1.50) +37.4%
Free cash flow 0.01 0.41 (1.74) (0.17) 0.06 (0.48) 0.84 1.25 (3.36) 3.21 2.58 +105.1%
Book value 0.69 1.04 5.66 6.19 5.50 5.89 7.01 8.24 8.60 8.88 10.74 +32.9%
Shares, m 262 262 318 328 329 330 327 322 316 295 286 +1.3%
Valuation, ×
Valuation, × P/E 48.67 48.67 23.41 32.23 73.87 39.73 9.36 11.77 5.05 7.47 5.35 30.0
P/S 0.00 0.00 5.02 7.75 14.17 4.47 0.91 1.22 0.57 0.78 0.54 3.5
P/B 0.00 0.00 3.31 5.52 10.35 4.45 1.18 1.47 0.73 1.09 0.71 2.8
EV/Sales 0.00 0.00 4.43 7.31 13.87 4.32 1.36 0.84 0.73 0.78 0.55 3.4
EV/FCF 0.00 0.00 (9.52) (195.14) 890.69 (52.90) 14.78 6.69 (2.40) 3.00 2.99 65.5
Cash, $m
Cash, $m Operating cash flow 22 142 (482) 122 418 166 687 801 (633) 1,354 1,129 +58.0%
Capex (21) (34) (69) (176) (397) (325) (414) (398) (430) (408) (414) +39.2%
Free cash flow 1 108 (552) (54) 21 (158) 274 403 (1,064) 947 714 +107.7%
Balance, $m
Balance, $m Working capital 158 222 1,732 1,940 1,488 1,430 1,942 2,864 4,056 3,072 4,629 +39.0%
Net debt (2) (87) (756) (698) (395) (291) 1,349 (1,205) 576 (2) 22 +1.2%
Shareholders’ equity 180 273 1,799 2,031 1,810 1,946 2,294 2,652 2,720 2,622 2,972 +34.7%
Returns, %
Returns, % ROA 3.73 14.95 11.18 10.15 6.24 4.28 4.01 3.34 3.20 2.83 2.96 (0.9) pt
ROIC 23.19 84.25 20.61 23.20 15.96 15.90 17.45 48.92 22.63 34.52 32.55 +11.3 pt
ROE 16.55 66.30 24.02 18.07 13.05 11.51 13.75 13.39 14.61 14.21 14.69 (2.3) pt
People
People Employees 1,020 1,068 1,807 3,399 5,836 6,751 7,223 7,273 8,595 9,772 — +28.5%
Revenue/emp, $m 0.32 0.74 0.66 0.43 0.23 0.29 0.41 0.44 0.41 0.37 — +1.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

PagSeguro Digital Ltd. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PAYO Payoneer Global Inc. $2.4B 50.2× 48.1× +2.25% (above 0%: growing) 0.00% +32.83% (above 0%: growing) 100.00% 9.06% Compare
GCT GigaCloud Technology Inc. $2.3B 13.5× 12.7× +27.33% (above 0%: growing) +42.42% (above 0%: growing) −27.55% (below 0%: shrinking) 24.85% 13.94% Compare
PAGS PagSeguro Digital Ltd. $2.1B 5.3× 5.3× +12.61% (above 0%: growing) +21.88% (above 0%: growing) −67.14% (below 0%: shrinking) 53.43% 38.71%
EVTC Evertec, Inc. $2.0B 21.8× 19.4× +23.80% (above 0%: growing) +3.80% (above 0%: growing) +29.34% (above 0%: growing) 53.70% 17.89% Compare
CALX Calix, Inc $2.0B 44.9× 41.4× +13.67% (above 0%: growing) −32.17% (below 0%: shrinking) −87.16% (below 0%: shrinking) 53.29% 5.49% Compare
MQ Marqeta, Inc. $1.9B 14.6× 66.4× +7.88% (above 0%: growing) n/m −77.59% (below 0%: shrinking) 69.30% 3.56% Compare
AI C3.ai, Inc. $1.8B — (loss-making) — (loss-making) −25.46% (below 0%: shrinking) n/m +106.02% (above 0%: growing) 31.83% (187.62%) Compare
STNE StoneCo Ltd. $1.8B 3.0× 3.0× +14.89% (above 0%: growing) −2.63% (below 0%: shrinking) +2,108.82% (above 0%: growing) 68.05% 43.79% Compare
INFQ Infleqtion, Inc. $1.7B — (loss-making) — — n/m +914.79% (above 0%: growing) 16.01% (220.55%) Compare
Median of peers $1.9B 18.2× 30.4× +13.67% 0.00% +31.08% 53.50% 7.28%

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PAGS metrics, ten years each

stockrow.com/PAGS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com