Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Pagaya Technologies's retained earnings for the quarter that ended in Jun. 2026 was $-793 Mil.
Pagaya Technologies's quarterly retained earnings
increased
from Dec. 2025 ($-863 Mil) to Mar. 2026 ($-838 Mil) and
increased
from Mar. 2026 ($-838 Mil) to Jun. 2026 ($-793 Mil).
Pagaya Technologies's annual retained earnings
declined
from Dec. 2023 ($-543 Mil) to Dec. 2024 ($-944 Mil) but then
increased
from Dec. 2024 ($-944 Mil) to Dec. 2025 ($-863 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Pagaya Technologies Retained Earnings Historical Data
* Premium members only.
The historical data trend for Pagaya Technologies's Retained Earnings can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
Pagaya Technologies (PGY) has a Retained Earnings of $-793 Mil as of Jun. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Pagaya Technologies and its competitors.
Is Pagaya Technologies' Retained Earnings too high?
Pagaya Technologies' current Retained Earnings is $-793 Mil. Overall, Pagaya Technologies has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pagaya Technologies' Retained Earnings compare to PRGS and ATEN?
Pagaya Technologies' Retained Earnings of $-793 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Software company?
A good Retained Earnings depends on the Software industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Pagaya Technologies and its competitors. Pagaya Technologies's current Retained Earnings is $-793 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pagaya Technologies stock overvalued right now?
Based on GuruFocus' analysis, Pagaya Technologies (PGY) is currently considered Significantly Overvalued. The stock's GF Value™ is $15.42, compared to a current price of $21.05 — trading 36.5% above its estimated fair value. The current Retained Earnings is $-793 Mil. Pagaya Technologies' overall GF Score™ is 78/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Pagaya Technologies (PGY), the current Retained Earnings is $-793 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Pagaya Technologies (PGY) Overvalued in 2026?
Based on GuruFocus' analysis, Pagaya Technologies stock appears to be overvalued.
The current stock price of $21.05 is trading 36.5% above its estimated GF Value™ of $15.42.
GuruFocus considers Pagaya Technologies to be Significantly Overvalued.
Key valuation signals for PGY:
Retained Earnings: $-793 Mil
GF Value™: $15.42 vs. price of $21.05 (36.5% above fair value)
No single metric tells the full story. See the PGY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pagaya Technologies Ltd is a product-focused technology company. It uses machine learning, a vast data network, and an AI-driven approach to offer comprehensive consumer credit and residential real estate products for its partners, their customers, and investors. Its suite of products includes Decline Monetization, Dual Look, First Look, Affiliate Optimizer Engine, Direct Marketing Engine, and FastPass, providing lenders with an AI-powered credit and acquisition ecosystem that helps them approve more borrowers, capture more demand, and grow without adding risk. Geographically, the company generates maximum revenue from its business in the United States.
78GF Score
Get the complete analysis for PGY
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PGY has been successfully added to your 
