NYSE : PAGS
PagSeguro Digital Ltd. — Financial statements
Technology · Software - Infrastructure · Brazil
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Financial statements
PagSeguro Digital Ltd. (PAGS) reported revenue of 19.80B BRL (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 8.19B | 8.16B | 9.18B | 9.03B | 8.91B | 6.78B |
| Other Revenue | 11.61B | 11.58B | 9.15B | 6.65B | 6.25B | 3.51B |
| Revenue | 19.80B | 19.74B | 18.33B | 15.68B | 15.16B | 10.30B |
| Cost of Revenue | 9.61B | 9.70B | 9.54B | 8.13B | 7.47B | 5.78B |
| Gross Profit | 10.19B | 10.05B | 8.79B | 7.55B | 7.69B | 4.52B |
| Selling, General & Admin | 2.51B | 2.51B | 2.72B | 2.05B | 2.61B | 2.40B |
| Operating Expenses | 2.72B | 2.64B | 2.83B | 2.16B | 2.61B | 2.40B |
| Operating Income | 7.48B | 7.41B | 5.96B | 5.39B | 5.07B | 2.12B |
| Interest Expense | -4.90B | -4.73B | -3.26B | -2.32B | -1.92B | -363.64M |
| Other Non Operating Income (Expenses) | 523.63M | 366.16M | 168.06M | -98.54M | -162.62M | 156.79M |
| EBT Excluding Unusual Items | 3.10B | 3.05B | 2.87B | 2.97B | 2.99B | 1.92B |
| Other Unusual Items | -497.88M | -497.88M | -491.65M | -953.51M | -1.23B | -426.99M |
| Pretax Income | 2.60B | 2.55B | 2.38B | 2.02B | 1.76B | 1.49B |
| Income Tax Expense | 449.97M | 431.06M | 263.56M | 363.42M | 254.55M | 321.74M |
| Earnings From Continuing Operations | 2.15B | 2.12B | 2.12B | 1.65B | 1.50B | 1.17B |
| Minority Interest in Earnings | -182.00K | |||||
| Net Income | 2.15B | 2.12B | 2.12B | 1.65B | 1.50B | 1.17B |
| Net Income to Common | 2.15B | 2.12B | 2.12B | 1.65B | 1.50B | 1.17B |
| Shares Outstanding (Basic) | 283.83M | 295.20M | 316.10M | 321.81M | 327.11M | 330.31M |
| Shares Outstanding (Diluted) | 286.89M | 297.87M | 319.51M | 323.96M | 329.23M | 332.17M |
| EPS (Basic) | 7.58 | 7.18 | 6.70 | 5.14 | 4.60 | 3.53 |
| EPS (Diluted) | 7.50 | 7.11 | 6.62 | 5.10 | 4.57 | 3.51 |
| Free Cash Flow | 5.11B | 6.52B | -4.55B | 3.05B | 2.45B | -74.27M |
| Free Cash Flow Per Share | 17.81 | 21.90 | -14.23 | 9.41 | 7.45 | -0.22 |
| Dividend Per Share | 1.36 | 0.77 | ||||
| Gross Margin | 51.47% | 50.89% | 47.95% | 48.13% | 50.72% | 43.92% |
| Operating Margin | 37.76% | 37.54% | 32.50% | 34.34% | 33.47% | 20.60% |
| Profit Margin | 10.86% | 10.73% | 11.54% | 10.55% | 9.93% | 11.32% |
| Free Cash Flow Margin | 25.80% | 33.04% | -24.81% | 19.44% | 16.18% | -0.72% |
| EBITDA | 9.31B | 9.20B | 7.54B | 6.74B | 6.20B | 2.89B |
| EBITDA Margin | 47.01% | 46.60% | 41.13% | 42.99% | 40.93% | 28.07% |
| D&A For EBITDA | 1.83B | 1.79B | 1.58B | 1.36B | 1.13B | 768.59M |
| EBIT | 7.48B | 7.41B | 5.96B | 5.39B | 5.07B | 2.12B |
| EBIT Margin | 37.76% | 37.54% | 32.50% | 34.34% | 33.47% | 20.60% |
| Effective Tax Rate | 17.30% | 16.91% | 11.07% | 18.02% | 14.47% | 21.62% |
| Revenue as Reported | 20.59B | 20.41B | 18.81B | 15.95B | 15.33B | 10.45B |
Balance sheet
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 623.68M | 1.86B | 927.67M | 2.90B | 1.83B | 1.79B |
| Short-Term Investments | 762.88M | 590.01M | 487.92M | 782.61M | ||
| Cash & Short-Term Investments | 1.39B | 2.45B | 1.42B | 3.68B | 1.83B | 1.79B |
| Accounts Receivable | 58.94B | 57.61B | 57.64B | 41.76B | 34.95B | 22.04B |
| Other Receivables | 863.26M | 596.64M | 746.19M | 726.14M | 1.87B | 2.06B |
| Receivables | 59.82B | 58.21B | 58.38B | 42.49B | 36.82B | 24.09B |
| Inventory | 1.64M | 33.54M | 13.28M | 49.54M | ||
| Other Current Assets | 4.69B | 4.28B | 4.82B | 2.53B | 1.10B | 782.65M |
| Total Current Assets | 65.89B | 64.93B | 64.62B | 48.73B | 39.77B | 26.72B |
| Property, Plant & Equipment | 2.56B | 2.54B | 2.57B | 2.45B | 2.49B | 2.29B |
| Long-Term Investments | 1.65M | 15.67M | ||||
| Goodwill | 227.07M | 227.07M | 227.07M | 227.07M | 209.91M | 209.91M |
| Other Intangible Assets | 3.01B | 2.95B | 2.70B | 2.34B | 1.95B | 1.44B |
| Long-Term Accounts Receivable | 2.88B | 2.68B | 2.20B | 1.17B | 745.55M | 228.88M |
| Long-Term Deferred Tax Assets | 92.24M | 86.98M | 95.87M | 98.86M | 99.41M | 120.76M |
| Other Long-Term Assets | 1.03B | 996.70M | 487.69M | 86.58M | 63.36M | 51.93M |
| Total Assets | 75.70B | 74.41B | 72.90B | 55.11B | 45.33B | 31.08B |
| Accounts Payable | 793.58M | 606.74M | 663.23M | 513.92M | 465.27M | 594.22M |
| Accrued Expenses | 603.86M | 674.78M | 679.63M | 581.44M | 423.00M | 341.68M |
| Short-Term Debt | 1.09B | 2.56B | 4.59B | 230.37M | 22.29M | 1.02B |
| Current Portion of Long-Term Debt | 600.78M | |||||
| Current Portion of Leases | 22.20M | 19.13M | 15.51M | 14.78M | 18.70M | 15.69M |
| Current Income Taxes Payable | 18.22M | 6.70M | 3.77M | 4.48M | 4.10M | 31.86M |
| Current Unearned Revenue | 80.40M | 97.73M | 128.85M | 128.46M | 126.04M | 162.57M |
| Other Current Liabilities | 39.28B | 43.82B | 36.66B | 32.96B | 28.68B | 16.84B |
| Total Current Liabilities | 42.50B | 47.78B | 42.74B | 34.43B | 29.74B | 19.00B |
| Long-Term Leases | 57.51M | 59.70M | 71.95M | 81.09M | 39.87M | 51.52M |
| Long-Term Unearned Revenue | 10.25M | 12.25M | 16.58M | 17.72M | 17.49M | 17.30M |
| Long-Term Deferred Tax Liabilities | 1.71B | 1.79B | 1.79B | 1.83B | 1.56B | 1.39B |
| Other Long-Term Liabilities | 16.41B | 10.12B | 13.61B | 5.50B | 2.13B | 110.11M |
| Total Liabilities | 60.68B | 59.77B | 58.23B | 41.87B | 33.49B | 20.57B |
| Common Stock | 26.00K | 26.00K | 26.00K | 26.00K | 26.00K | 26.00K |
| Retained Earnings | 12.03B | 11.32B | 10.01B | 7.89B | 6.24B | 4.73B |
| Treasury Stock | -833.64M | -1.33B | -1.37B | -760.32M | -475.35M | -285.01M |
| Comprehensive Income & Other | 3.82B | 4.64B | 6.03B | 6.11B | 6.08B | 6.05B |
| Total Common Equity | 15.02B | 14.64B | 14.67B | 13.24B | 11.84B | 10.50B |
| Shareholders' Equity | 15.02B | 14.64B | 14.67B | 13.24B | 11.84B | 10.50B |
| Total Liabilities & Equity | 75.70B | 74.41B | 72.90B | 55.11B | 45.33B | 31.08B |
| Total Debt | 1.78B | 2.64B | 4.68B | 326.24M | 80.86M | 1.09B |
| Net Cash (Debt) | -388.72M | -192.10M | -3.26B | 3.36B | 1.75B | 707.05M |
| Net Cash Per Share | -1.35 | -0.64 | -10.21 | 10.36 | 5.31 | 2.13 |
| Filing Date Shares Outstanding | 275.65M | 279.71M | 303.82M | 315.87M | 324.28M | 327.92M |
| Total Common Shares Outstanding | 275.65M | 279.71M | 303.82M | 315.87M | 324.28M | 327.92M |
| Working Capital | 23.39B | 17.15B | 21.88B | 14.30B | 10.03B | 7.72B |
| Book Value Per Share | 54.48 | 52.34 | 48.28 | 41.92 | 36.52 | 32.03 |
| Tangible Book Value | 11.77B | 11.47B | 11.74B | 10.67B | 9.68B | 8.85B |
| Tangible Book Value Per Share | 42.72 | 41.00 | 38.65 | 33.78 | 29.86 | 26.99 |
| Machinery | 5.24B | 4.88B | 4.56B | 3.90B | 3.60B | 2.91B |
Cash flow statement
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.15B | 2.12B | 2.12B | 1.65B | 1.50B | 1.17B |
| Depreciation & Amortization | 1.86B | 1.81B | 1.60B | 1.36B | 1.13B | 768.59M |
| Loss (Gain) From Sale of Assets | 122.78M | 182.68M | 207.51M | 295.99M | 270.90M | 28.39M |
| Stock-Based Compensation | 125.83M | 112.10M | 178.69M | 144.62M | 127.39M | 370.63M |
| Other Operating Activities | 6.58B | 6.28B | 3.54B | 4.04B | 4.51B | 2.34B |
| Change in Accounts Receivable | -9.52B | -6.21B | -21.42B | -10.53B | -17.85B | -9.30B |
| Change in Inventory | 5.22M | -20.26M | 36.26M | -132.40M | ||
| Change in Accounts Payable | -42.72M | -53.90M | 148.60M | 63.50M | -133.85M | 243.59M |
| Change in Unearned Revenue | -32.28M | -35.45M | -756.00K | 2.12M | -36.34M | -33.69M |
| Change in Income Taxes | -24.86M | -246.77M | -262.69M | 67.35M | 180.10M | -48.06M |
| Change in Other Net Operating Assets | 4.74B | 3.62B | 10.46B | 6.93B | 13.81B | 5.58B |
| Operating Cash Flow | 6.05B | 7.56B | -3.42B | 4.00B | 3.55B | 898.01M |
| Capital Expenditures | -940.86M | -1.04B | -1.13B | -951.56M | -1.10B | -972.27M |
| Cash Acquisitions | -31.31M | -43.37M | ||||
| Sale (Purchase) of Intangibles | -1.24B | -1.24B | -1.19B | -1.04B | -1.04B | -779.55M |
| Investment in Securities | -230.69M | -22.94M | 490.55M | -684.12M | -48.13M | 324.25M |
| Investing Cash Flow | -2.41B | -2.30B | -1.83B | -2.70B | -2.18B | -1.47B |
| Short-Term Debt Issued | 250.00M | 1.01B | ||||
| Long-Term Debt Issued | 6.20B | 8.88B | 300.00M | |||
| Total Debt Issued | 2.38B | 6.20B | 8.88B | 300.00M | 250.00M | 1.01B |
| Short-Term Debt Repaid | -1.21B | |||||
| Long-Term Debt Repaid | -8.52B | -4.80B | -126.58M | -18.18M | -15.15M | |
| Lease Payments | -20.75M | -19.62M | -18.59M | -16.97M | -18.18M | -15.15M |
| Total Debt Repaid | -4.39B | -8.52B | -4.80B | -126.58M | -1.23B | -15.15M |
| Net Debt Issued (Repaid) | -2.00B | -2.33B | 4.08B | 173.41M | -981.32M | 996.94M |
| Repurchase of Common Stock | -1.01B | -1.33B | -784.46M | -399.41M | -291.44M | -257.99M |
| Common Dividends Paid | -916.22M | -617.05M | ||||
| Other Financing Activities | -208.43M | -60.54M | -19.52M | -56.93M | -11.71M | |
| Financing Cash Flow | -4.14B | -4.33B | 3.27B | -225.99M | -1.33B | 727.24M |
| Miscellaneous Cash Flow Adjustments | 2.00K | 2.00K | 1.00K | |||
| Net Cash Flow | -504.53M | 929.84M | -1.97B | 1.07B | 34.73M | 154.30M |
| Free Cash Flow | 5.11B | 6.52B | -4.55B | 3.05B | 2.45B | -74.27M |
| Free Cash Flow Margin | 25.80% | 33.04% | -24.81% | 19.44% | 16.18% | -0.72% |
| Free Cash Flow Per Share | 17.81 | 21.90 | -14.23 | 9.41 | 7.45 | -0.22 |
| Levered Free Cash Flow | -1.86B | 9.10B | -13.06B | -1.19B | -187.23M | -439.02M |
| Unlevered Free Cash Flow | 1.21B | 12.06B | -11.02B | 255.89M | 1.01B | -211.74M |
| Free Cash Flow After Leases | 5.09B | 6.50B | -4.57B | 3.03B | 2.43B | -89.42M |
| Cash Interest Paid | 56.93M | |||||
| Cash Income Tax Paid | 187.81M | 187.91M | 157.34M | 82.63M | 89.90M | 76.78M |
| Change in Working Capital | -4.88B | -2.93B | -11.06B | -3.49B | -4.00B | -3.78B |
Ratios
Fiscal year January - December; amounts in BRL.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.17B | 2.81B | 1.95B | 3.99B | 2.85B | 8.78B |
| Enterprise Value | 2.25B | 2.94B | 2.39B | 3.66B | 2.81B | 8.59B |
| Last Close Price | 7.89 | 9.05 | 5.63 | 11.21 | 7.86 | 23.57 |
| PE Ratio | 5.45 | 7.29 | 5.71 | 11.70 | 10.02 | 41.96 |
| Forward PE | 4.69 | 6.18 | 5.40 | 10.35 | 9.14 | 24.30 |
| PS Ratio | 0.57 | 0.78 | 0.66 | 1.23 | 0.99 | 4.75 |
| PB Ratio | 0.75 | 1.05 | 0.82 | 1.46 | 1.27 | 4.66 |
| P/TBV Ratio | 0.96 | 1.35 | 1.03 | 1.81 | 1.56 | 5.53 |
| P/FCF Ratio | 2.32 | 2.37 | 6.35 | 6.14 | ||
| P/OCF Ratio | 1.96 | 2.04 | 4.84 | 4.25 | 54.48 | |
| PEG Ratio | 0.44 | 0.50 | 0.39 | 1.01 | 0.44 | 0.63 |
| EV/Sales Ratio | 0.59 | 0.82 | 0.81 | 1.13 | 0.98 | 4.65 |
| EV/EBITDA Ratio | 1.25 | 1.76 | 1.96 | 2.63 | 2.40 | 16.56 |
| EV/EBIT Ratio | 1.56 | 2.19 | 2.48 | 3.29 | 2.93 | 22.55 |
| EV/FCF Ratio | 2.40 | 2.49 | 5.82 | 6.06 | ||
| Debt / Equity Ratio | 0.12 | 0.18 | 0.32 | 0.03 | 0.01 | 0.10 |
| Debt / EBITDA Ratio | 0.19 | 0.29 | 0.62 | 0.05 | 0.01 | 0.38 |
| Debt / FCF Ratio | 0.35 | 0.41 | 0.11 | 0.03 | ||
| Net Debt / Equity Ratio | 0.03 | 0.01 | 0.22 | -0.25 | -0.15 | -0.07 |
| Net Debt / EBITDA Ratio | 0.04 | 0.02 | 0.43 | -0.50 | -0.28 | -0.24 |
| Net Debt / FCF Ratio | 0.08 | 0.03 | -0.72 | -1.10 | -0.71 | 9.52 |
| Asset Turnover | 0.27 | 0.27 | 0.29 | 0.31 | 0.40 | 0.39 |
| Inventory Turnover | 542.56 | 347.41 | 237.86 | 144.46 | ||
| Quick Ratio | 1.44 | 1.27 | 1.40 | 1.34 | 1.30 | 1.36 |
| Current Ratio | 1.55 | 1.36 | 1.51 | 1.42 | 1.34 | 1.41 |
| Return on Equity (ROE) | 14.54% | 14.46% | 15.17% | 13.19% | 13.47% | 11.76% |
| Return on Assets (ROA) | 6.36% | 6.29% | 5.82% | 6.70% | 8.30% | 4.97% |
| Return on Invested Capital (ROIC) | 40.85% | 37.60% | 38.10% | 44.20% | 43.64% | 19.03% |
| Return on Capital Employed (ROCE) | 22.50% | 27.80% | 19.80% | 26.00% | 32.50% | 17.60% |
| Earnings Yield | 18.34% | 13.71% | 17.52% | 8.55% | 9.98% | 2.38% |
| FCF Yield | 43.06% | 42.22% | -37.65% | 15.76% | 16.28% | -0.15% |
| Dividend Yield | 3.29% | 1.40% | ||||
| Payout Ratio | 45.60% | 29.13% | ||||
| Buyback Yield / Dilution | 7.51% | 6.77% | 1.37% | 1.60% | 0.89% | -0.72% |
| Total Shareholder Return | 10.81% | 8.17% | 1.37% | 1.60% | 0.89% | -0.72% |