PagSeguro Digital Ltd
PAGS
PagSeguro Digital Ltd AI Insights
Informational only. Not investment advice.Snapshot
- P/E of 1.4x and P/B of 0.25x at 15% ROE TTM - trading at deep distressed levels despite profitable operations[PE Ratio]
- Interest expense of 4.9B TTM consumes 71% of operating income (7.1B) - debt service dominates economics[Interest Expense]
- Receivables of 56.6B are 78% of total assets (72.3B) - massive credit exposure embedded in balance sheet[Accounts Receivable]
Watch Triggers
- Accounts Receivable: Growth exceeds revenue growth by >5pts or provisions spike — Credit deterioration in 56.6B book would directly impair equity
- Interest Expense: Decline >15% YoY or rate on debt drops below 10% — Each 1% rate reduction adds ~420M to pretax income (17% boost)
- Net Margin TTM: Expansion above 15% sustained for 2+ quarters — Would signal interest burden normalizing, validating re-rating thesis
Bull Case
Extreme valuation disconnect: P/E 1.4x, P/S 0.15x, P/B 0.25x while generating 2.8B FCF TTM and 15% ROE - market pricing permanent impairment
5Y revenue CAGR 22.9% with gross margin expansion (50% TTM, +12% YoY growth) demonstrates durable competitive position in Brazilian payments
Bear Case
Debt/equity of 2.8x with 40.4B net debt vs 3.0B market cap - equity is a levered call option on receivables quality
56.6B receivables (3.8x equity) creates existential credit risk - 5% loss rate would wipe 19% of equity
Bull vs Bear Balance
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Forward Thesis
Interest rate normalization could unlock 2-3x earnings power from current suppressed levels
- 4.9B interest expense on 41.8B debt implies ~12% avg rate
- Operating income of 7.1B shows underlying business strength
- Net margin compressed to 11% vs 36% operating margin
Public Strategies Rankings
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PAGS Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$2.97B | — | ||
$43.39B | — | ||
1.4 | — | ||
$19.52B | +10.9% | — | |
$7.28 | +16.6% | — | |
36.2% | +3.6% | — | |
11.4% | -0.0% | — | |
$2.8B | — | ||
0.15 | +0.4% | — | |
Beta 5Y (Monthly) | unknown | — |
PAGS Dividend History
2026
$0.12002025
$0.3800PAGS Stock Splits
PAGS SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/12/25 | 09/30/25 | 6-K | |
08/13/25 | 06/30/25 | 6-K | |
05/13/25 | 03/31/25 | 6-K | |
04/29/25 | 12/31/24 | Unknown | |
11/13/24 | 09/30/24 | 6-K | |
08/20/24 | 06/30/24 | 6-K | |
05/23/24 | 03/31/24 | 6-K | |
04/29/24 | 12/31/23 | 20-F | |
11/17/23 | 09/30/23 | 6-K | |
08/24/23 | 06/30/23 | 6-K | |
05/25/23 | 03/31/23 | 6-K | |
04/28/23 | 12/31/22 | 20-F | |
11/22/22 | 09/30/22 | 6-K | |
08/25/22 | 06/30/22 | 6-K | |
06/08/22 | 03/31/22 | 6-K | |
05/02/22 | 12/31/21 | 20-F | |
11/12/21 | 09/30/21 | 6-K | |
08/12/21 | 06/30/21 | 6-K | |
06/02/21 | 03/31/21 | 6-K | |
04/27/21 | 12/31/20 | 20-F | |
11/18/20 | 09/30/20 | 6-K | |
08/27/20 | 06/30/20 | 6-K | |
05/28/20 | 03/31/20 | 6-K | |
04/22/20 | 12/31/19 | 20-F | |
11/19/19 | 09/30/19 | 6-K | |
08/15/19 | 06/30/19 | 6-K | |
05/14/19 | 03/31/19 | 6-K | |
04/16/19 | 12/31/18 | 20-F | |
11/29/18 | 09/30/18 | 6-K | |
08/30/18 | 06/30/18 | 6-K | |
08/15/19 | 06/30/18 | 6-K | |
05/30/18 | 03/31/18 | 6-K | |
04/06/18 | 12/31/17 | 20-F | |
01/24/18 | 09/30/17 | 424B1 | |
08/30/18 | 06/30/17 | 6-K | |
05/30/18 | 03/31/17 | 6-K | |
01/24/18 | 12/31/16 | 424B1 |