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PagSeguro USD

At a glance: strengths & risks
✓Margins improving (27%→43%)✗High leverage (4.7x EBITDA)

Sector: Fintech / payments

BR_PAGS

Price chart

8.979 USDDay -1.11%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
8.979 USD · -1.11%
Market cap
2.5 bn USD

Growth

Δ revenue y/y
3.2%
Δ EBITDA y/y
9.2%

Multiples

P/E (LTM)
6.6x
3y avg: 7.4x
P/B (FY)
1.0x
P/E (ann.)
6.4x
EV/EBITDA (LTM)
5.6x
3y avg: 6.0x
EV/EBITDA (ann.)
5.7x

Cash return

Dividend yield
2.9%
FCF yield (LTM)
35.6%

Value creation

fundamental value/yr, % of market cap
Value created / year
-26.7%
↓ details

Liquidity

Daily turnover (listing)
23.9 mln USD

Shares: yahoo_fundamentals_timeseries/PAGS

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK894.8
y/y 3.2%
359.1
y/y 10.2%
82.6
y/y 5.2%
441.7
y/y 9.2%
97.5
y/y 3.9%
166.2-101.213439.5
y/y 8.7%
2595.9
y/y -2.8%
15.0%7573.9Link
2025-12-31Q4 2025 (3M)OK964.7
y/y —
395.2
y/y —
82.0
y/y —
477.2
y/y —
89.7
y/y —
344.6-104.813301.4
y/y -1.7%
2617.0
y/y -3.9%
14.3%7374.0Link
2025-09-30Q3 2025 (3M)OK912.6
y/y —
371.1
y/y —
81.9
y/y —
453.0
y/y —
99.1
y/y —
390.2-91.712921.7
y/y —
2661.4
y/y —
5.0%7225.6Link
2025-06-30Q2 2025 (3M)OK904.2
y/y —
351.9
y/y —
80.8
y/y —
432.6
y/y —
96.0
y/y —
399.6-94.612726.4
y/y —
2607.0
y/y —
14.5%7060.3Link
2025-03-31Q1 2025 (3M)OK867.0
y/y —
326.0
y/y —
78.5
y/y —
404.5
y/y —
93.9
y/y —
217.4-115.912359.0
y/y —
2671.2
y/y —
13.9%6667.5Link
2024-12-31FY 2024 (12M)OK3490.7
y/y 9.3%
1194.1
y/y 5.5%
297.1
y/y 9.5%
1491.2
y/y 6.3%
392.8
y/y 18.6%
-634.0-430.713528.8
y/y 22.6%
2722.1
y/y 2.7%
14.6%7370.0Link
2023-12-31FY 2023 (12M)OK3193.2
y/y —
1131.9
y/y —
271.4
y/y —
1403.3
y/y —
331.1
y/y —
800.8-398.111033.8
y/y —
2651.1
y/y —
—4977.8Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

01 0002 0003 0002023 FY2024 FY2025 q12025 q22025 q32025 q42026 q1

Year-over-year change

0%2%5%8%10%2023 FY2024 FY2025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-1 000-50005002023 FY2024 FY2025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

02 0004 0006 0008 0002023 FY2024 FY2025 q12025 q22025 q32025 q42026 q1

Profit and cash

Worth a look
In a typical year of 2021–2025 operating cash flow came to 2.36x of reported net profit; after capex, 1.08x.
year20212022202320242025
cash flow / profit0.77x2.36x2.42x-1.61x3.57x
accruals, % of assets0.9%-4.5%-4.3%7.6%-7.3%
Last twelve months (to 2026-03-31): 3.40x of profit came back as operating cash flow.
net debt / EBITDA 4.7x · capex 1.3x of depreciation
● Net debt / EBITDA 4.7x at the last full year.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: -26.6%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-03-31 vs 2025-03-31)
= (442 − 405) × 4.09
38
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (2 511 + 7 574) ÷ 1 805
5.6x
3. Target multiple
(Current EV/EBITDA + 7) ÷ 2
= (5.6 + 7) ÷ 2
6.3x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -906 + 0 + 0 − 0
-906
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (38 × 6.3 + -906) ÷ 2 511
-26.6%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • dividends/buybacks not in data - balance cash flow uses net-debt change only
  • growth discounted x0.25: EBITDA grew but net profit FELL while net debt rose - debt-funded growth not reaching equity (interest drag)

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +5% vs +9% the year before — a -4.8 pp move. 3-year CAGR +7%.
revenue growth by year: 2023 +8% · 2024 +9% · 2025 +5%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-04-220.26 USDEx-dividend: 0.26 USD per sharePaidYahoo Finance (ex-div)
2025-07-160.12 USDEx-dividend: 0.12 USD per sharePaidYahoo Finance (ex-div)
2025-05-230.14 USDEx-dividend: 0.14 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://investors.pagbank.com/

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of PagSeguro — from primary filings.

PagSeguro Digital Ltd. provides financial and payment solutions, including digital banking, cards, credit products, insurance, and investment services, primarily for consumers and small to medium-sized businesses in Brazil.

Frequently asked questions

What is PagSeguro's P/E ratio?
PagSeguro trades at a P/E of 6.6x (price to trailing 12-month earnings).
What is PagSeguro's EV/EBITDA?
PagSeguro trades at 5.6x EV/EBITDA.
What is PagSeguro's P/B ratio?
PagSeguro trades at a P/B of 1.0x.
What is PagSeguro's dividend yield?
PagSeguro's trailing 12-month dividend yield is 2.9%.
What is PagSeguro's return on equity (ROE)?
PagSeguro's ROE is 15.0%.
What is PagSeguro's market capitalization?
PagSeguro's market cap is 2.5 bn USD.

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