PagSeguro Digital Ltd. (PAGS) Key Metrics
PAGS key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Brazilian reaisPAGS returns How much profit the business earns on the capital it uses.
PAGS financial health Debt, liquidity and how easily interest is covered.
PAGS efficiency & capital use Working capital cycle and where the cash goes.
PAGS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PAGS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PAGS cash returned to shareholders
PAGS key metrics in Brazilian reais
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 14.2% | 15.2% | 13.2% | 21.9% | 63.4% | 68.3% | 32.0% | 24.5% | 64.0% | 23.4% |
| Return on invested capital (ROIC) | 11.4% | 13.7% | 19.9% | 37.6% | 91.7% | 91.7% | 51.3% | 33.0% | 87.6% | 34.5% |
| Return on assets (ROA) | 2.8% | 3.3% | 3.3% | 5.9% | 23.6% | 32.6% | 18.2% | 11.6% | 14.5% | 6.9% |
| Return on tangible assets | 2.9% | 3.0% | 3.1% | 3.5% | 22.1% | 31.6% | 39.3% | 8.0% | 11.7% | 5.4% |
| Free cash flow margin | 8.0% | −31.3% | 12.8% | 9.3% | −8.3% | 1.6% | −3.9% | −52.7% | 14.3% | 0.4% |
| Income quality (OCF / net income) | 1.24 | −1.61 | 2.42 | 2.36 | 0.77 | 1.67 | 0.36 | −2.06 | 0.98 | 0.57 |
| Financial health | ||||||||||
| Total debt | R$44.34B | R$40.64B | R$16.38B | R$12.00B | R$755.3M | R$161.4M | R$0 | R$0 | R$52.1M | R$205.2M |
| Cash & short-term investments | R$6.72B | R$1.42B | R$6.21B | R$2.93B | R$462.7M | R$504.4M | R$684.5M | R$2.76B | R$276.9M | R$211.2M |
| Net debt | R$37.62B | R$39.23B | R$10.17B | R$9.06B | R$292.6M | −R$343.0M | −R$684.5M | −R$2.76B | −R$224.8M | −R$6.0M |
| Debt / equity | 3.03 | 2.77 | 1.24 | 1.01 | 0.40 | 0.09 | 0.00 | 0.00 | 0.06 | 0.33 |
| Debt / assets | 0.60 | 0.56 | 0.30 | 0.26 | 0.14 | 0.04 | 0.00 | 0.00 | 0.01 | 0.09 |
| Net debt / EBITDA | 4.00 | 5.08 | 1.53 | 1.50 | 0.10 | −0.16 | −0.35 | −2.59 | −0.27 | −0.02 |
| Current ratio | 1.36 | 1.51 | 1.42 | 1.34 | 1.41 | 1.66 | 2.30 | 2.34 | 1.21 | 1.32 |
| Quick ratio | 1.36 | 1.51 | 1.41 | 1.34 | 1.40 | 1.66 | 2.29 | 2.32 | 1.20 | 1.31 |
| Interest coverage | 1.4 | 1.6 | 1.6 | 1.6 | 2.7 | 15.9 | 47.9 | 32.9 | 8.2 | 3.6 |
| Working capital | R$17.14B | R$21.88B | R$14.30B | R$10.03B | R$1.39B | R$1.48B | R$1.90B | R$6.32B | R$709.0M | R$551.6M |
| Invested capital | R$52.25B | R$53.89B | R$23.41B | R$20.91B | R$2.18B | R$1.45B | R$1.30B | R$3.79B | R$645.6M | R$620.9M |
| Tangible asset value | R$11.46B | R$11.74B | R$10.67B | R$9.68B | R$1.59B | R$1.58B | R$1.85B | R$6.47B | R$711.5M | R$600.4M |
| Net current asset value | R$5.16B | R$6.39B | R$6.86B | R$6.28B | R$1.10B | R$1.20B | R$1.74B | R$6.20B | R$662.6M | R$527.2M |
| Capital allocation | ||||||||||
| Dividends paid | R$604.9M | R$0 | R$0 | R$0 | R$0 | R$0 | R$0 | R$0 | R$56.4M | R$370 |
| Share buybacks (net) | R$1.30B | R$784.5M | R$399.4M | R$291.4M | R$258.0M | R$44.8M | R$1.7M | R$39.5M | R$0 | R$0 |
| Dividend payout ratio | 29.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 11.8% | 0.0% |
| Dividends + buybacks / free cash flow | 122.8% | — | 19.9% | 20.6% | — | 42.2% | — | — | 15.7% | 0.0% |
| Capex / revenue | 5.3% | 12.7% | 12.7% | 14.1% | 17.0% | 30.6% | 12.7% | 6.6% | 4.4% | 6.0% |
| Capex / operating cash flow | 39.6% | — | 49.7% | 60.2% | 195.1% | 95.1% | 144.6% | — | 23.7% | 94.0% |
| Capex / depreciation | 0.58 | 1.45 | 1.47 | 1.89 | 2.28 | 5.44 | 5.51 | 2.82 | 2.17 | 2.16 |
| Stock-based compensation / revenue | 0.6% | 1.0% | 0.9% | 0.8% | 3.6% | 1.8% | 0.4% | 1.7% | — | — |
| R&D / revenue | — | — | — | 2.8% | 2.7% | — | — | — | — | — |
| SG&A / revenue | 12.6% | 15.4% | 13.8% | 4.4% | 8.5% | 17.7% | 17.8% | 23.0% | 15.9% | 25.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 1,099.1 | 986.2 | 902.2 | 495.4 | 133.3 | 160.0 | 155.5 | 259.9 | 267.7 | 192.1 |
| Days of inventory on hand | — | 0.7 | 1.1 | 0.5 | 0.5 | 1.0 | 6.9 | 12.8 | 11.4 | 18.2 |
| Days payables outstanding | 230.9 | 22.5 | 21.6 | 73.9 | 145.2 | 165.2 | 103.0 | 21.9 | 21.2 | 28.4 |
| Cash conversion cycle (days) | 868.2 | 964.4 | 881.6 | 422.1 | -11.5 | -4.1 | 59.4 | 250.7 | 257.9 | 181.9 |
| Receivables turnover | 0.33 | 0.37 | 0.40 | 0.74 | 2.74 | 2.28 | 2.35 | 1.40 | 1.36 | 1.90 |
| Payables turnover | 1.58 | 16.21 | 16.89 | 4.94 | 2.51 | 2.21 | 3.54 | 16.65 | 17.18 | 12.85 |
| Inventory turnover | — | 542.56 | 347.41 | 673.83 | 783.08 | 354.96 | 53.14 | 28.57 | 32.05 | 20.04 |
| Asset turnover | 0.26 | 0.29 | 0.31 | 0.60 | 2.09 | 1.69 | 0.74 | 0.52 | 0.76 | 0.62 |
| Average receivables | R$58.28B | R$49.54B | R$38.76B | R$20.57B | R$3.76B | R$2.93B | R$2.38B | R$2.89B | R$1.84B | R$596.3M |
| Average payables | R$6.05B | R$588.6M | R$481.5M | R$1.51B | R$2.30B | R$1.71B | R$779.3M | R$128.8M | R$77.1M | R$48.5M |
| Average inventory | R$821,000 | R$17.6M | R$23.4M | R$11.1M | R$7.4M | R$10.6M | R$52.0M | R$75.1M | R$41.3M | R$31.1M |
| Intangibles / total assets | 4.3% | 4.0% | 4.7% | 4.8% | 5.3% | 5.0% | 4.0% | 1.0% | 3.8% | 1.1% |
Computed from PAGS's annual financial statements (latest annual report filed April 29, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Brazilian reais; data from EODHD. Averages use the opening and closing balance of each year.
PAGS valuation and financial ratios
PagSeguro Digital earned a return on equity of 14.2% and a return on invested capital of 11.4% in fiscal 2025. It ended the year with R$44.3 billion of debt and R$6.7 billion in cash and short-term investments, net debt of R$37.6 billion. It returned R$1.9 billion to shareholders: R$604.9 million in dividends and R$1.3 billion in share buybacks, 123% of free cash flow.
See the PAGS income statement, the PAGS chart for price history, or the PAGS stock overview for the latest quote and news.
PAGS key metrics FAQ
What is PagSeguro Digital's return on equity?
PagSeguro Digital's return on equity (ROE) was 14.2% in fiscal 2025: net income of R$2.1 billion on average shareholders' equity of R$14.7 billion.
What is PagSeguro Digital's ROIC?
PagSeguro Digital's return on invested capital was 11.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does PagSeguro Digital have?
PagSeguro Digital had total debt of R$44.3 billion at the end of fiscal 2025, a debt-to-equity ratio of 3.03 and R$37.6 billion of net debt (4.00 times EBITDA).
Does PagSeguro Digital buy back its shares?
Yes. PagSeguro Digital spent R$1.3 billion on net share repurchases in fiscal 2025.
What is PagSeguro Digital's current ratio?
PagSeguro Digital's current ratio was 1.36 at the end of fiscal 2025: current assets were 1.36 times current liabilities.