Flywire Corporation (FLYW) Key Metrics
FLYW valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.28B
- Enterprise value
- $1.79B
- P/E (TTM)
- 71.0
- Forward P/E
- 18.9
- PEG ratio
- —
- Price / sales
- 3.2 10-yr median 6.6
- Price / book
- 2.5 10-yr median 3.4
- EV / EBITDA
- 24.8
- Dividend yield
- —
- Beta
- 1.35
FLYW key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFLYW valuation Price multiples at each fiscal year-end price.
FLYW returns How much profit the business earns on the capital it uses.
FLYW per-share figures Results divided by the shares outstanding at year-end.
FLYW financial health Debt, liquidity and how easily interest is covered.
FLYW efficiency & capital use Working capital cycle and where the cash goes.
FLYW valuation history
FLYW returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FLYW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FLYW cash returned to shareholders
FLYW price vs earnings per share
FLYW key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $1.81B | $2.67B | $2.66B | $2.64B | $4.05B | — | — |
| Enterprise value | $1.46B | $2.06B | $2.01B | $2.29B | $3.79B | — | — |
| P/E ratio | 134.0 | 919.6 | — | — | — | — | — |
| Price / sales | 2.9 | 5.4 | 6.6 | 9.1 | 20.1 | — | — |
| Price / book | 2.2 | 3.3 | 3.4 | 5.5 | 8.4 | — | — |
| Price / free cash flow | 18.3 | 29.5 | 35.6 | — | 387.8 | — | — |
| Price / operating cash flow | 18.1 | 29.2 | 33.0 | 541.2 | 236.5 | — | — |
| EV / sales | 2.3 | 4.2 | 5.0 | 7.9 | 18.8 | — | — |
| EV / EBITDA | 28.5 | 104.1 | — | — | — | — | — |
| EV / free cash flow | 14.7 | 22.7 | 26.9 | — | 362.4 | — | — |
| Earnings yield | 0.7% | 0.1% | −0.3% | −1.5% | −0.7% | — | — |
| Free cash flow yield | 5.5% | 3.4% | 2.8% | −0.1% | 0.3% | — | — |
| Dividend yield | — | — | — | 0.1% | — | — | — |
| Shareholder yield (dividends + buybacks) | 4.3% | 1.6% | 0.3% | 0.2% | 0.0% | — | — |
| Share price at fiscal year-end | $14.16 | $20.62 | $23.15 | $24.47 | $38.06 | — | — |
| Per share | |||||||
| Revenue per share | $4.88 | $3.81 | $3.51 | $2.68 | $1.89 | $1.30 | $0.94 |
| Earnings per share | $0.11 | $0.02 | −$0.07 | −$0.36 | −$0.26 | −$0.11 | −$0.20 |
| Operating cash flow per share | $0.78 | $0.71 | $0.70 | $0.05 | $0.16 | −$0.14 | $0.04 |
| Free cash flow per share | $0.77 | $0.70 | $0.65 | −$0.02 | $0.10 | −$0.16 | $0.00 |
| Cash per share | $2.78 | $4.72 | $5.70 | $3.24 | $3.62 | $1.03 | $0.85 |
| Book value per share | $6.54 | $6.30 | $6.85 | $4.46 | $4.53 | −$0.81 | −$0.74 |
| Tangible book value per share | $1.88 | $4.23 | $4.84 | $2.65 | $2.85 | −$1.92 | −$1.01 |
| Dividends per share | — | — | — | $0.02 | — | — | $0.10 |
| Capex per share | $0.01 | $0.01 | $0.05 | $0.07 | $0.06 | $0.02 | $0.04 |
| Debt per share | $0.01 | $0.01 | $0.01 | $0.02 | $1.13 | $0.24 | $0.24 |
| Shares outstanding | 127.7M | 129.3M | 114.8M | 107.9M | 106.4M | 101.1M | 101.1M |
| Change in shares outstanding | −1.2% | +12.6% | +6.4% | +1.4% | +5.3% | 0.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | 1.6% | 0.4% | −1.4% | −8.2% | −14.0% | — | — |
| Return on invested capital (ROIC) | 3.7% | −4.3% | −12.7% | −13.6% | −37.5% | — | — |
| Return on assets (ROA) | 1.1% | 0.3% | −1.0% | −6.0% | −6.2% | −5.4% | −14.3% |
| Return on tangible assets | 2.1% | 0.3% | −1.0% | −8.2% | −6.1% | −7.0% | −17.7% |
| Free cash flow margin | 15.9% | 18.4% | 18.5% | −0.8% | 5.2% | −12.4% | 0.3% |
| Income quality (OCF / net income) | 7.42 | 31.54 | — | — | — | — | — |
| Financial health | |||||||
| Total debt | $1.3M | $1.7M | $1.5M | $1.8M | $120.4M | $24.4M | $24.6M |
| Cash & short-term investments | $355.0M | $611.1M | $654.6M | $349.2M | $385.4M | $104.1M | $86.0M |
| Net debt | −$353.6M | −$609.4M | −$653.1M | −$347.4M | −$264.9M | −$79.7M | −$61.4M |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 | — | — |
| Debt / assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.19 | 0.09 | 0.17 |
| Net debt / EBITDA | −6.93 | −30.84 | — | — | — | — | — |
| Current ratio | 1.50 | 2.63 | 2.98 | 2.54 | 3.76 | 1.68 | 1.31 |
| Quick ratio | 1.50 | 2.63 | 2.98 | 2.53 | 3.73 | 1.62 | 1.31 |
| Interest coverage | 5.7 | -13.5 | -5.8 | -25.0 | -6.6 | -6.2 | -7.1 |
| Working capital | $200.5M | $473.1M | $541.9M | $273.4M | $325.9M | $60.2M | $25.4M |
| Invested capital | $481.5M | $205.4M | $133.0M | $134.5M | $217.4M | −$161.5M | −$136.7M |
| Tangible asset value | $239.6M | $546.5M | $556.3M | $286.5M | $302.9M | −$194.6M | −$102.5M |
| Net current asset value | $184.1M | $455.2M | $522.1M | $258.3M | $286.4M | −$204.6M | −$108.1M |
| Graham number | $3.94 | $1.78 | — | — | — | — | — |
| Graham net-net per share | $0.74 | $3.10 | $4.08 | $2.03 | $2.48 | −$2.17 | −$1.14 |
| Capital allocation | |||||||
| Dividends paid | — | — | — | $2.6M | — | — | $10.5M |
| Share buybacks (net) | $78.5M | $43.7M | $8.5M | $2.6M | $0 | $0 | $295,000 |
| Dividends + buybacks / free cash flow | 79.5% | 48.3% | 11.4% | — | 0.0% | — | — |
| Capex / revenue | 0.2% | 0.2% | 1.5% | 2.5% | 3.3% | 1.6% | 3.9% |
| Capex / operating cash flow | 1.3% | 1.0% | 7.5% | 145.3% | 39.0% | — | 92.0% |
| Capex / depreciation | 0.05 | 0.05 | 0.38 | 0.58 | 0.74 | 0.32 | 1.00 |
| Stock-based compensation / revenue | 11.5% | 13.2% | 10.8% | 10.5% | 9.4% | 2.9% | 3.1% |
| R&D / revenue | 11.3% | 13.5% | 15.4% | 17.4% | 15.6% | 18.6% | 15.8% |
| SG&A / revenue | 46.9% | 51.9% | 53.4% | 55.8% | 56.1% | 57.1% | 63.9% |
| Efficiency | |||||||
| Days sales outstanding | 99.6 | 100.9 | 101.8 | 79.8 | 72.9 | 76.4 | 74.8 |
| Days of inventory on hand | — | — | — | 10.1 | 23.4 | 19.1 | 0.0 |
| Days payables outstanding | 23.3 | 28.7 | 33.7 | 39.9 | 40.8 | 31.8 | 28.9 |
| Cash conversion cycle (days) | 76.3 | 72.2 | 68.0 | 50.1 | 55.5 | 63.7 | 45.9 |
| Receivables turnover | 3.66 | 3.62 | 3.59 | 4.57 | 5.01 | 4.78 | 4.88 |
| Payables turnover | 15.68 | 12.71 | 10.82 | 9.16 | 8.95 | 11.47 | 12.65 |
| Inventory turnover | — | — | — | 35.98 | 15.60 | 19.12 | 36,726,000.00 |
| Asset turnover | 0.52 | 0.45 | 0.46 | 0.44 | 0.44 | 0.64 | 0.67 |
| Average receivables | $170.0M | $136.1M | $112.4M | $63.3M | $40.2M | $27.6M | $19.4M |
| Average payables | $15.3M | $14.0M | $13.0M | $11.8M | $7.8M | $4.2M | $2.9M |
| Average inventory | — | — | — | $3.0M | $4.5M | $2.5M | $1 |
| Intangibles / total assets | 47.5% | 23.9% | 21.3% | 29.0% | 28.1% | 41.6% | 19.3% |
Computed from FLYW's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FLYW valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Flywire traded at 134.0 times earnings. Based on the latest twelve months, the trailing P/E is 71.0 and the forward P/E is 18.9. Flywire earned a return on equity of 1.6% and a return on invested capital of 3.7% in fiscal 2025. It ended the year with $1.3 million of debt and $355.0 million in cash and short-term investments, a net cash position of $353.6 million. It returned $78.5 million to shareholders: $0 in dividends and $78.5 million in share buybacks, 79% of free cash flow. The share count rose 26.4% from 101.1M to 127.7M over 6 years.
See the FLYW income statement, the FLYW chart for price history, or the FLYW stock overview for the latest quote and news.
FLYW key metrics FAQ
What is Flywire's P/E ratio?
Flywire's trailing P/E ratio is 71.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 18.9. At the end of fiscal 2025 it was 134.0.
What is Flywire's EV/EBITDA?
Flywire's enterprise value was 28.5 times EBITDA at the end of fiscal 2025 (enterprise value $1.5 billion, EBITDA $51.0 million); the current EV/EBITDA is 24.8.
What is Flywire's return on equity?
Flywire's return on equity (ROE) was 1.6% in fiscal 2025: net income of $13.5 million on average shareholders' equity of $825.0 million.
What is Flywire's ROIC?
Flywire's return on invested capital was 3.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Flywire have?
Flywire had total debt of $1.3 million at the end of fiscal 2025, a debt-to-equity ratio of 0.00 and more cash than debt.
Does Flywire buy back its shares?
Yes. Flywire spent $78.5 million on net share repurchases in fiscal 2025 Shares outstanding changed −1.2% over the year, to 127.7M..
What is Flywire's free cash flow yield?
Flywire generated $98.8 million of free cash flow in fiscal 2025, a free cash flow yield of 5.5% on its market value at year-end ($1.8 billion).
What is Flywire's current ratio?
Flywire's current ratio was 1.50 at the end of fiscal 2025: current assets were 1.50 times current liabilities.