Payoneer Global (PAYO) Financials

$4.93 -0.19 (-3.71%)

Closing price 05/13/2026 04:00 PM Eastern

Extended Trading

$4.96 +0.03 (+0.57%)

As of 07:48 AM Eastern

Annual Income Statements for Payoneer Global

This table shows Payoneer Global's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-0.63	-24	-34	-12	93	121	73
Consolidated Net Income / (Loss)	-0.63	-24	-34	-12	93	121	73
Net Income / (Loss) Continuing Operations	-0.63	-24	-34	-12	93	121	73
Total Pre-Tax Income	4.17	-15	-25	1.62	133	139	116
Total Operating Income	3.64	-17	-30	-22	104	149	125
Total Gross Profit	318	346	473	628	831	978	1,053
Total Revenue	318	346	473	628	831	978	1,053
Operating Revenue	318	346	473	628	831	978	1,053
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	314	363	504	650	727	829	928
Selling, General & Admin Expense	31	38	64	90	101	113	141
Marketing Expense	61	77	114	165	197	212	235
Research & Development Expense	35	52	81	115	119	135	155
Depreciation Expense	10	17	18	21	28	47	66
Other Operating Expenses / (Income)	177	179	226	259	283	322	331
Total Other Income / (Expense), net	0.52	2.01	4.97	24	29	-9.56	-9.08
Other Income / (Expense), net	0.52	2.01	4.97	24	29	-9.56	-9.08
Income Tax Expense	4.71	8.32	8.71	14	39	18	42
Basic Earnings per Share	($0.33)	($0.80)	($0.33)	($0.03)	$0.26	$0.34	$0.20
Weighted Average Basic Shares Outstanding	36.11M	47.01M	202.88M	348.04M	361.68M	358.35M	361.17M
Diluted Earnings per Share	($0.33)	($0.80)	($0.33)	($0.03)	$0.24	$0.31	$0.19
Weighted Average Diluted Shares Outstanding	36.11M	47.01M	202.88M	348.04M	392.67M	386.24M	376.73M
Weighted Average Basic & Diluted Shares Outstanding	-	-	341.83M	354.36M	368.75M	359.85M	344.77M

This table shows Payoneer Global's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	13	27	29	32	42	18	21	19	14	19	20
Consolidated Net Income / (Loss)	13	27	29	32	42	18	21	19	14	19	20
Net Income / (Loss) Continuing Operations	13	27	29	32	42	18	21	19	14	19	20
Total Pre-Tax Income	23	41	43	48	22	26	28	30	31	27	29
Total Operating Income	29	26	38	46	35	29	29	30	36	29	30
Total Gross Profit	208	224	228	240	248	262	247	261	271	275	262
Total Revenue	208	224	228	240	248	262	247	261	271	275	262
Operating Revenue	208	224	228	240	248	262	247	261	271	275	262
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	179	199	190	193	213	233	217	231	235	246	232
Selling, General & Admin Expense	25	27	24	26	30	33	30	37	36	38	36
Marketing Expense	49	52	50	51	52	59	55	57	59	64	58
Research & Development Expense	27	35	32	28	35	40	37	37	40	41	43
Depreciation Expense	7.12	8.75	9.41	11	14	14	14	16	16	20	19
Other Operating Expenses / (Income)	71	76	74	78	83	86	81	83	83	83	75
Total Other Income / (Expense), net	-6.66	16	4.51	1.98	-13	-2.98	-1.55	-0.45	-5.84	-1.24	-0.81
Other Income / (Expense), net	-6.66	16	4.51	1.98	-13	-2.98	-1.55	-0.23	-5.84	-1.47	-0.81
Income Tax Expense	10	14	14	16	-19	8.02	7.19	10	16	8.45	9.64
Basic Earnings per Share	$0.04	$0.08	$0.08	$0.09	$0.12	$0.05	$0.06	$0.05	$0.04	$0.05	$0.06
Weighted Average Basic Shares Outstanding	357.43M	361.68M	359.31M	356.32M	357.30M	358.35M	362.98M	368.77M	368.27M	361.17M	345.34M
Diluted Earnings per Share	$0.03	$0.07	$0.08	$0.09	$0.11	$0.03	$0.05	$0.05	$0.04	$0.05	$0.06
Weighted Average Diluted Shares Outstanding	381.85M	392.67M	378.72M	373.37M	374.30M	386.24M	382.22M	380.63M	377.63M	376.73M	350.47M
Weighted Average Basic & Diluted Shares Outstanding	361.81M	368.75M	373.43M	381.82M	356.61M	359.85M	361.67M	360.32M	356.44M	344.77M	334.78M

This table details how cash moves in and out of Payoneer Global's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	319	1,617	1,425	1,548	632	-1,360	758
Net Cash From Operating Activities	-14	9.53	20	84	159	177	233
Net Cash From Continuing Operating Activities	-14	9.53	20	84	159	177	233
Net Income / (Loss) Continuing Operations	-0.63	-24	-34	-12	93	121	73
Consolidated Net Income / (Loss)	-0.63	-24	-34	-12	93	121	73
Depreciation Expense	10	17	18	21	28	47	66
Amortization Expense	-	-	-	0.00	0.00	-8.58	1.18
Non-Cash Adjustments To Reconcile Net Income	-34	270	384	269	345	402	392
Changes in Operating Assets and Liabilities, net	9.86	-254	-348	-194	-307	-385	-298
Net Cash From Investing Activities	-21	-67	10	5.73	-44	-1,961	-218
Net Cash From Continuing Investing Activities	-21	-67	10	5.73	-44	-1,961	-218
Purchase of Property, Plant & Equipment	-17	-14	-21	-29	-48	-60	-88
Acquisitions	-6.50	-15	0.00	0.00	5.95	-48	-33
Purchase of Investments	-	-	-	0.00	0.00	-2,079	-462
Sale and/or Maturity of Investments	-	-	-	0.00	0.00	277	404
Other Investing Activities, net	3.21	-37	31	35	-2.42	-51	-39
Net Cash From Financing Activities	354	1,673	1,396	1,461	512	428	738
Net Cash From Continuing Financing Activities	354	1,673	1,396	1,461	512	428	738
Repayment of Debt	0.00	-125	-44	-27	-25	-34	0.00
Repurchase of Common Equity	-	-	0.00	0.00	-55	-157	-174
Issuance of Debt	60	105	17	29	27	15	0.00
Issuance of Common Equity	-	-	-	-	13	21	0.71
Other Financing Activities, net	294	1,661	1,462	1,459	552	582	911
Effect of Exchange Rate Changes	0.52	0.64	-1.22	-2.72	4.46	-3.59	5.31
Cash Interest Paid	0.31	1.89	1.92	1.47	1.77	1.40	0.00

This table details how cash moves in and out of Payoneer Global's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-122	1,071	-597	-433	-1,090	760	-395	394	52	707	-396
Net Cash From Operating Activities	41	58	40	41	50	46	54	71	54	55	52
Net Cash From Continuing Operating Activities	41	58	40	41	50	46	54	71	54	55	52
Net Income / (Loss) Continuing Operations	13	27	29	32	42	18	21	19	14	19	20
Consolidated Net Income / (Loss)	13	27	29	32	42	18	21	19	14	19	20
Depreciation Expense	7.12	8.75	9.41	11	14	14	14	16	16	20	19
Amortization Expense	-	-	-0.47	-2.80	-3.13	-2.18	-2.69	0.67	-0.19	3.27	0.40
Non-Cash Adjustments To Reconcile Net Income	86	99	91	92	134	96	108	116	78	83	87
Changes in Operating Assets and Liabilities, net	-64	-77	-89	-91	-136	-80	-86	-81	-54	-70	-74
Net Cash From Investing Activities	16	3.50	-114	-551	-1,149	-147	-48	-86	-36	-49	-61
Net Cash From Continuing Investing Activities	16	3.50	-114	-551	-1,149	-147	-48	-86	-36	-49	-61
Purchase of Property, Plant & Equipment	-14	-18	-16	-14	-14	-16	-21	-17	-19	-32	-29
Acquisitions	-	-	-	-	-48	0.00	0.00	-	-	-	-6.48
Purchase of Investments	-	-	-119	-621	-1,117	-223	-72	-201	-79	-110	-80
Sale and/or Maturity of Investments	-	-	20	85	109	63	65	191	73	75	77
Other Investing Activities, net	30	22	0.17	-1.14	-79	29	-20	-26	-11	18	-22
Net Cash From Financing Activities	-177	1,005	-521	78	6.54	865	-402	405	35	701	-386
Net Cash From Continuing Financing Activities	-177	1,005	-521	78	6.54	865	-402	405	35	701	-386
Repurchase of Common Equity	-17	-21	-51	-48	-41	-17	-18	-32	-45	-79	-75
Issuance of Common Equity	-	-	3.43	-	-	-	-4.40	2.22	-1.05	3.95	-2.54
Other Financing Activities, net	-160	1,023	-470	125	50	895	-380	434	81	776	-308
Effect of Exchange Rate Changes	-1.37	5.12	-1.54	-0.77	2.42	-3.70	1.88	4.17	-0.87	0.14	-0.81

This table presents Payoneer Global's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	3,670	5,079	6,595	7,283	7,930	8,957
Total Current Assets	3,570	4,963	6,471	7,109	7,100	8,111
Cash & Equivalents	103	466	543	617	497	416
Restricted Cash	26	3.00	2.88	7.03	6.63	6.09
Note & Lease Receivable	66	54	37	45	56	44
Accounts Receivable	18	14	13	7.98	12	10
Other Current Assets	3,357	4,426	5,875	6,431	6,527	7,635
Plant, Property, & Equipment, net	13	12	14	15	16	32
Total Noncurrent Assets	87	104	109	159	815	813
Goodwill	23	21	20	20	78	78
Intangible Assets	34	38	45	76	102	208
Noncurrent Deferred & Refundable Income Taxes	3.68	4.90	4.17	15	42	57
Other Noncurrent Operating Assets	19	33	33	47	593	471
Total Liabilities & Shareholders' Equity	3,670	5,079	6,595	7,283	7,930	8,957
Total Liabilities	3,480	4,592	6,049	6,619	7,206	8,252
Total Current Liabilities	3,441	4,498	5,978	6,542	7,131	8,084
Accounts Payable	17	17	42	34	37	45
Other Current Liabilities	3,410	4,481	5,936	6,508	7,094	8,039
Total Noncurrent Liabilities	39	94	72	77	75	168
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	0.00	1.47	25
Other Noncurrent Operating Liabilities	12	80	56	58	73	143
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	24	487	545	664	725	704
Total Preferred & Common Equity	24	487	545	664	725	704
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00
Total Common Equity	24	487	545	664	725	704
Common Stock	80	579	654	737	825	900
Retained Earnings	-60	-94	-109	-15	106	179
Treasury Stock	-	-	0.00	-57	-194	-369
Accumulated Other Comprehensive Income / (Loss)	4.17	2.25	-0.18	-0.18	-13	-6.28

This table presents Payoneer Global's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	5,759	6,238	6,344	6,218	6,795	6,920	7,051	7,550	8,110	8,205	8,598
Total Current Assets	5,640	6,119	6,209	6,061	6,616	6,733	6,249	6,713	7,213	7,401	7,723
Cash & Equivalents	508	545	581	591	587	576	534	524	497	479	339
Restricted Cash	3.17	9.53	9.71	2.87	7.91	11	4.99	9.98	8.61	8.66	4.85
Note & Lease Receivable	33	42	40	49	52	49	57	45	32	42	37
Accounts Receivable	21	11	11	5.97	7.22	6.57	14	9.38	14	14	13
Other Current Assets	5,075	5,512	5,567	5,413	5,962	6,091	5,640	6,124	6,661	6,857	7,329
Plant, Property, & Equipment, net	14	14	14	14	15	15	14	17	18	21	40
Total Noncurrent Assets	106	105	121	143	164	173	787	820	880	784	835
Goodwill	18	20	20	20	20	20	76	78	78	78	86
Intangible Assets	40	50	58	71	83	89	100	105	204	206	214
Noncurrent Deferred & Refundable Income Taxes	4.08	2.36	14	16	17	19	30	41	45	50	60
Other Noncurrent Operating Assets	37	32	30	36	45	45	582	597	554	450	474
Total Liabilities & Shareholders' Equity	5,759	6,238	6,344	6,218	6,795	6,920	7,051	7,550	8,110	8,205	8,598
Total Liabilities	5,227	5,661	5,718	5,580	6,134	6,251	6,323	6,799	7,340	7,455	7,939
Total Current Liabilities	5,153	5,586	5,658	5,511	6,060	6,191	6,263	6,731	7,208	7,308	7,762
Accounts Payable	27	32	29	36	35	39	45	33	42	40	42
Other Current Liabilities	5,127	5,554	5,629	5,475	6,025	6,153	6,217	6,698	7,166	7,269	7,720
Total Noncurrent Liabilities	73	75	59	69	74	59	61	68	131	147	177
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	1.47	1.47	25	25	25
Other Noncurrent Operating Liabilities	58	58	44	53	59	59	59	67	106	122	152
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	533	577	626	638	662	669	728	751	771	750	659
Total Preferred & Common Equity	533	577	626	638	662	669	728	751	771	750	659
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	533	577	626	638	662	669	728	751	771	750	659
Common Stock	633	678	701	715	756	778	806	839	864	880	917
Retained Earnings	-98	-101	-55	-42	14	46	88	127	146	160	199
Treasury Stock	-	-	-20	-35	-108	-155	-176	-211	-243	-288	-443
Accumulated Other Comprehensive Income / (Loss)	-2.26	-0.18	-0.18	-0.18	-0.15	0.15	11	-3.86	4.65	-1.27	-13

This table displays calculated financial ratios and metrics derived from Payoneer Global's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	8.76%	36.98%	32.58%	32.42%	17.64%	7.68%
EBITDA Growth	0.00%	-87.51%	-499.67%	410.36%	613.43%	11.13%	2.36%
EBIT Growth	0.00%	-466.94%	-65.14%	106.41%	8,091.35%	5.23%	-17.12%
NOPAT Growth	0.00%	-2,445.74%	-74.67%	877.03%	-55.60%	77.45%	-39.03%
Net Income Growth	0.00%	-3,699.36%	-43.13%	64.78%	879.72%	29.82%	-39.59%
EPS Growth	0.00%	-142.42%	58.75%	90.91%	900.00%	29.17%	-38.71%
Operating Cash Flow Growth	0.00%	166.56%	110.11%	319.49%	89.96%	10.93%	31.97%
Free Cash Flow Firm Growth	0.00%	0.00%	145.09%	278.25%	-87.18%	-240.99%	151.64%
Invested Capital Growth	0.00%	0.00%	-73.51%	-64.58%	567.49%	276.40%	28.14%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	7.60%	5.16%	3.98%	1.25%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	165.99%	41.76%	-9.52%	7.40%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	113.94%	49.40%	-9.76%	1.10%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	1,415.54%	66.18%	5.76%	-0.17%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	42.23%	66.19%	-6.79%	1.14%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-106.67%	60.00%	-11.43%	11.76%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	1,288.97%	56.78%	13.14%	-6.49%	4.02%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	58.08%	-446.83%	211.47%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-71.71%	-2.81%	16.95%	7.78%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	4.57%	0.52%	-1.53%	3.58%	19.29%	18.23%	17.33%
Operating Margin	1.15%	-5.00%	-6.38%	-3.54%	12.47%	15.24%	11.84%
EBIT Margin	1.31%	-4.42%	-5.33%	0.26%	15.95%	14.27%	10.98%
Profit (Net Income) Margin	-0.20%	-6.87%	-7.18%	-1.91%	11.23%	12.39%	6.95%
Tax Burden Percent	-15.01%	155.38%	134.66%	-739.80%	70.42%	86.87%	63.32%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	113.06%	0.00%	0.00%	839.68%	29.58%	13.13%	36.68%
Return on Invested Capital (ROIC)	0.00%	-25.86%	-35.71%	978.54%	216.45%	92.70%	31.36%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-1.67%	-31.12%	1,013.84%	212.89%	94.20%	32.60%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.85%	25.67%	-980.86%	-201.02%	-75.26%	-21.12%
Return on Equity (ROE)	0.00%	-25.02%	-10.04%	-2.32%	15.43%	17.45%	10.24%
Cash Return on Invested Capital (CROIC)	0.00%	-225.86%	80.52%	1,073.92%	68.57%	-23.34%	6.69%
Operating Return on Assets (OROA)	0.00%	-0.42%	-0.58%	0.03%	1.91%	1.83%	1.37%
Return on Assets (ROA)	0.00%	-0.65%	-0.78%	-0.21%	1.35%	1.59%	0.87%
Return on Common Equity (ROCE)	0.00%	-3.20%	-7.59%	-2.32%	15.43%	17.45%	10.24%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-97.72%	-6.98%	-2.20%	14.05%	16.72%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.48	-12	-21	164	73	129	79
NOPAT Margin	-0.15%	-3.50%	-4.47%	26.18%	8.78%	13.24%	7.50%
Net Nonoperating Expense Percent (NNEP)	0.00%	-24.19%	-4.60%	-35.30%	3.57%	-1.50%	-1.24%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	29.27%	10.69%	17.86%	11.21%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	9.76%	10.89%	13.60%	14.34%	12.14%	11.58%	13.43%
R&D to Revenue	10.94%	15.13%	17.06%	18.33%	14.34%	13.77%	14.76%
Operating Expenses to Revenue	98.85%	105.00%	106.38%	103.54%	87.53%	84.76%	88.16%
Earnings before Interest and Taxes (EBIT)	4.17	-15	-25	1.62	133	139	116
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	15	1.81	-7.24	22	160	178	182
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	5.12	3.51	2.84	4.94	2.84
Price to Tangible Book Value (P/TBV)	0.00	0.00	5.82	3.99	3.32	6.57	4.79
Price to Revenue (P/Rev)	0.00	0.00	5.26	3.05	2.27	3.66	1.90
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	20.20	29.55	27.37
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	4.95%	3.38%	3.65%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	81.84	157.00	21.82	13.94	5.59
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	4.29	2.20	1.54	3.15	1.50
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	61.36	7.98	17.26	8.67
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	852.34	9.65	22.06	13.68
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	8.39	17.53	23.76	20.03
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	101.40	16.43	8.02	17.39	6.77
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	42.57	7.65	55.35	0.00	93.97
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.21	0.03	0.03	0.03	0.00	0.00
Long-Term Debt to Equity	0.00	0.14	0.03	0.03	0.03	0.00	0.00
Financial Leverage	0.00	-0.51	-0.83	-0.97	-0.94	-0.80	-0.65
Leverage Ratio	0.00	19.33	12.92	11.31	11.47	10.95	11.82
Compound Leverage Factor	0.00	19.33	12.92	11.31	11.47	10.95	11.82
Debt to Total Capital	0.00%	17.41%	2.73%	2.87%	2.70%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	5.87%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	11.54%	2.73%	2.87%	2.70%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	72.02%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	10.57%	97.27%	97.13%	97.30%	100.00%	100.00%
Debt to EBITDA	0.00	22.09	-1.89	0.72	0.11	0.00	0.00
Net Debt to EBITDA	0.00	-53.10	63.83	-23.87	-3.78	0.00	0.00
Long-Term Debt to EBITDA	0.00	14.64	-1.89	0.72	0.11	0.00	0.00
Debt to NOPAT	0.00	-3.31	-0.65	0.10	0.25	0.00	0.00
Net Debt to NOPAT	0.00	7.95	21.86	-3.27	-8.30	0.00	0.00
Long-Term Debt to NOPAT	0.00	-2.19	-0.65	0.10	0.25	0.00	0.00
Altman Z-Score	0.00	0.00	0.49	0.35	0.44	0.49	0.34
Noncontrolling Interest Sharing Ratio	0.00%	87.20%	24.45%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.04	1.10	1.08	1.09	1.00	1.00
Quick Ratio	0.00	0.05	0.12	0.10	0.10	0.08	0.06
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-106	48	180	23	-33	17
Operating Cash Flow to CapEx	-82.78%	67.86%	95.77%	291.19%	333.71%	292.96%	266.15%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.09	0.11	0.11	0.12	0.13	0.12
Accounts Receivable Turnover	0.00	19.37	29.88	46.97	79.69	98.18	94.21
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	27.22	38.13	47.31	55.61	61.97	43.42
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	18.85	12.22	7.77	4.58	3.72	3.87
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	18.85	12.22	7.77	4.58	3.72	3.87
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	94	25	8.78	59	221	283
Invested Capital Turnover	0.00	7.38	8.00	37.38	24.66	7.00	4.18
Increase / (Decrease) in Invested Capital	0.00	94	-69	-16	50	162	62
Enterprise Value (EV)	0.00	0.00	2,029	1,379	1,279	3,076	1,582
Market Capitalization	0.00	0.00	2,492	1,916	1,885	3,580	2,003
Book Value per Share	$0.00	$0.52	$1.44	$1.56	$1.84	$2.03	$1.98
Tangible Book Value per Share	$0.00	($0.69)	$1.26	$1.37	$1.57	$1.53	$1.17
Total Capital	0.00	230	501	561	683	725	704
Total Debt	0.00	40	14	16	18	0.00	0.00
Total Long-Term Debt	0.00	27	14	16	18	0.00	0.00
Net Debt	0.00	-96	-462	-536	-606	-504	-422
Capital Expenditures (CapEx)	17	14	21	29	48	60	88
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	14	-4.03	-53	-57	-536	-394
Debt-free Net Working Capital (DFNWC)	0.00	143	465	494	567	-31	27
Net Working Capital (NWC)	0.00	130	465	494	567	-31	27
Net Nonoperating Expense (NNE)	0.15	12	13	176	-20	8.31	5.75
Net Nonoperating Obligations (NNO)	0.00	-96	-462	-536	-606	-504	-422
Total Depreciation and Amortization (D&A)	10	17	18	21	28	39	67
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	3.95%	-0.85%	-8.38%	-6.89%	-54.77%	-37.47%
Debt-free Net Working Capital to Revenue	0.00%	41.39%	98.20%	78.64%	68.19%	-3.22%	2.58%
Net Working Capital to Revenue	0.00%	37.48%	98.20%	78.64%	68.19%	-3.22%	2.58%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.33)	($0.03)	$0.26	$0.34	$0.20
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	202.88M	348.04M	361.68M	358.35M	361.17M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.33)	($0.03)	$0.24	$0.31	$0.19
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	202.88M	348.04M	392.67M	386.24M	376.73M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	341.83M	354.36M	368.75M	359.85M	344.77M
Normalized Net Operating Profit after Tax (NOPAT)	2.55	-12	-21	-16	73	129	79
Normalized NOPAT Margin	0.80%	-3.50%	-4.47%	-2.48%	8.78%	13.24%	7.50%
Pre Tax Income Margin	1.31%	-4.42%	-5.33%	0.26%	15.95%	14.27%	10.98%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	59.40%	129.86%	237.19%

This table displays calculated financial ratios and metrics derived from Payoneer Global's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	344,772,967.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	344,772,967.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.06
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	30.91%	22.21%	18.84%	15.86%	19.34%	16.68%	8.08%	8.81%	9.09%	4.95%	6.07%
EBITDA Growth	267.19%	1,684.06%	123.85%	-1.75%	8.42%	-24.67%	-23.60%	-18.02%	43.07%	33.35%	22.93%
EBIT Growth	195.89%	1,733.43%	150.64%	-5.86%	-3.27%	-36.54%	-35.25%	-38.19%	38.12%	4.78%	5.19%
NOPAT Growth	563.77%	380.60%	272.28%	4.87%	299.46%	20.43%	-16.21%	-36.88%	-74.58%	-1.14%	-7.43%
Net Income Growth	148.48%	366.19%	265.00%	-28.81%	224.16%	-32.68%	-28.98%	-39.92%	-66.03%	4.52%	-4.90%
EPS Growth	137.50%	450.00%	300.00%	-25.00%	266.67%	-57.14%	-37.50%	-44.44%	-63.64%	66.67%	20.00%
Operating Cash Flow Growth	167.98%	46.75%	912.56%	-26.09%	21.05%	-21.11%	35.96%	70.72%	8.08%	19.67%	-3.51%
Free Cash Flow Firm Growth	-788.60%	-429.60%	-154.78%	-103.10%	-389.15%	-329.35%	-657.08%	-14,965.70%	8.61%	70.32%	31.45%
Invested Capital Growth	94.32%	567.49%	102.72%	63.30%	212.80%	276.40%	167.79%	219.48%	39.04%	28.14%	45.36%
Revenue Q/Q Growth	0.63%	7.83%	1.72%	4.97%	3.65%	5.42%	-5.78%	5.68%	3.93%	1.42%	-4.77%
EBITDA Q/Q Growth	-47.64%	67.07%	3.55%	8.46%	-42.22%	16.08%	5.03%	16.38%	0.84%	8.19%	-3.46%
EBIT Q/Q Growth	-55.48%	80.82%	3.85%	12.61%	-54.26%	18.63%	5.96%	7.49%	2.21%	-10.01%	6.38%
NOPAT Q/Q Growth	-44.13%	1.54%	54.14%	19.92%	112.82%	-69.39%	7.25%	-9.65%	-14.28%	19.04%	0.42%
Net Income Q/Q Growth	-71.84%	110.69%	7.23%	11.91%	28.22%	-56.25%	13.12%	-5.33%	-27.50%	34.62%	2.92%
EPS Q/Q Growth	-75.00%	133.33%	14.29%	12.50%	22.22%	-72.73%	66.67%	0.00%	-20.00%	25.00%	20.00%
Operating Cash Flow Q/Q Growth	-26.08%	40.46%	-32.07%	4.79%	21.06%	-8.46%	17.06%	31.59%	-23.36%	1.36%	-5.61%
Free Cash Flow Firm Q/Q Growth	-136.55%	-159.71%	54.41%	92.84%	-5,665.97%	-127.96%	19.61%	-42.58%	65.02%	25.97%	-85.69%
Invested Capital Q/Q Growth	18.71%	-2.81%	37.95%	2.61%	127.37%	16.95%	-1.85%	22.42%	-1.05%	7.78%	11.34%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	14.40%	22.31%	22.71%	23.46%	13.08%	14.40%	16.05%	17.68%	17.15%	18.30%	18.55%
Operating Margin	14.18%	11.46%	16.82%	19.33%	14.16%	11.15%	11.89%	11.54%	13.42%	10.53%	11.48%
EBIT Margin	10.98%	18.41%	18.79%	20.16%	8.90%	10.01%	11.26%	11.45%	11.26%	10.00%	11.17%
Profit (Net Income) Margin	6.16%	12.05%	12.70%	13.54%	16.75%	6.95%	8.34%	7.47%	5.21%	6.92%	7.48%
Tax Burden Percent	56.16%	65.44%	67.56%	67.15%	188.20%	69.41%	74.10%	65.26%	46.29%	69.24%	66.99%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	43.84%	34.56%	32.44%	32.86%	-88.20%	30.59%	25.90%	34.74%	53.71%	30.76%	33.01%
Return on Invested Capital (ROIC)	137.75%	184.89%	163.18%	174.63%	201.28%	54.18%	59.00%	44.01%	28.64%	30.49%	30.89%
ROIC Less NNEP Spread (ROIC-NNEP)	138.45%	183.10%	162.64%	174.40%	205.68%	54.55%	59.20%	44.04%	29.16%	30.71%	31.02%
Return on Net Nonoperating Assets (RNNOA)	-127.64%	-172.90%	-146.77%	-156.38%	-168.18%	-43.58%	-46.73%	-33.39%	-20.26%	-19.89%	-19.32%
Return on Equity (ROE)	10.11%	11.99%	16.41%	18.25%	33.10%	10.60%	12.26%	10.62%	8.37%	10.60%	11.57%
Cash Return on Invested Capital (CROIC)	32.00%	68.57%	84.03%	88.21%	-4.79%	-23.34%	-5.91%	-37.65%	2.40%	6.69%	-7.88%
Operating Return on Assets (OROA)	1.45%	2.20%	2.50%	2.74%	1.26%	1.29%	1.56%	1.55%	1.54%	1.25%	1.48%
Return on Assets (ROA)	0.81%	1.44%	1.69%	1.84%	2.37%	0.89%	1.16%	1.01%	0.71%	0.86%	0.99%
Return on Common Equity (ROCE)	10.11%	11.99%	16.41%	18.25%	33.10%	10.60%	12.26%	10.62%	8.37%	10.60%	11.57%
Return on Equity Simple (ROE_SIMPLE)	8.80%	0.00%	17.29%	15.13%	17.86%	0.00%	15.02%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	17	17	26	31	66	20	22	20	17	20	20
NOPAT Margin	7.96%	7.50%	11.36%	12.98%	26.65%	7.74%	8.81%	7.53%	6.21%	7.29%	7.69%
Net Nonoperating Expense Percent (NNEP)	-0.69%	1.79%	0.55%	0.23%	-4.41%	-0.37%	-0.21%	-0.03%	-0.53%	-0.22%	-0.12%
Return On Investment Capital (ROIC_SIMPLE)	-	2.46%	-	-	-	2.79%	2.89%	2.55%	2.24%	2.84%	3.05%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	12.07%	12.09%	10.61%	10.90%	11.97%	12.69%	12.13%	14.20%	13.34%	13.96%	13.76%
R&D to Revenue	12.95%	15.59%	14.05%	11.51%	13.94%	15.43%	15.11%	14.35%	14.72%	14.89%	16.56%
Operating Expenses to Revenue	85.82%	88.54%	83.18%	80.67%	85.84%	88.85%	88.11%	88.46%	86.58%	89.47%	88.52%
Earnings before Interest and Taxes (EBIT)	23	41	43	48	22	26	28	30	31	27	29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	30	50	52	56	32	38	40	46	46	50	49
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.45	2.84	2.71	3.09	3.95	4.94	3.50	3.21	2.90	2.84	2.53
Price to Tangible Book Value (P/TBV)	4.02	3.32	3.21	3.69	5.21	6.57	4.63	5.06	4.67	4.79	4.65
Price to Revenue (P/Rev)	2.78	2.27	2.07	2.30	3.06	3.66	2.64	2.44	2.10	1.90	1.56
Price to Earnings (P/E)	39.14	20.20	15.67	20.43	22.12	29.55	23.33	24.82	30.12	27.37	23.07
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.55%	4.95%	6.38%	4.89%	4.52%	3.38%	4.29%	4.03%	3.32%	3.65%	4.33%
Enterprise Value to Invested Capital (EV/IC)	26.86	21.82	14.98	17.86	12.38	13.94	9.68	7.44	6.45	5.59	4.20
Enterprise Value to Revenue (EV/Rev)	2.05	1.54	1.40	1.65	2.48	3.15	2.10	1.94	1.63	1.50	1.24
Enterprise Value to EBITDA (EV/EBITDA)	14.33	7.98	6.39	7.75	11.86	17.26	12.63	12.65	9.96	8.67	6.90
Enterprise Value to EBIT (EV/EBIT)	18.27	9.65	7.65	9.55	15.11	22.06	16.86	18.62	14.80	13.68	11.29
Enterprise Value to NOPAT (EV/NOPAT)	36.91	17.53	13.21	16.26	19.08	23.76	16.52	16.91	21.40	20.03	17.08
Enterprise Value to Operating Cash Flow (EV/OCF)	11.50	8.02	6.21	8.21	12.35	17.39	10.97	8.95	7.54	6.77	5.70
Enterprise Value to Free Cash Flow (EV/FCFF)	110.82	55.35	23.87	25.12	0.00	0.00	0.00	0.00	313.08	93.97	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.02	0.03	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.02	0.03	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.92	-0.94	-0.90	-0.90	-0.82	-0.80	-0.79	-0.76	-0.69	-0.65	-0.62
Leverage Ratio	10.23	11.47	10.52	10.24	9.71	10.95	10.16	10.44	10.32	11.82	11.45
Compound Leverage Factor	10.23	11.47	10.52	10.24	9.71	10.95	10.16	10.44	10.32	11.82	11.45
Debt to Total Capital	2.42%	2.70%	2.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	2.42%	2.70%	2.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	97.58%	97.30%	97.87%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.14	0.11	0.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	-5.11	-3.78	-3.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.14	0.11	0.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.36	0.25	0.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	-13.16	-8.30	-6.33	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.36	0.25	0.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.47	0.39	0.42	0.45	0.43	0.45	0.40	0.37	0.36	0.31	0.29
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.10	1.09	1.09	1.09	1.00	1.00	1.00	1.00	1.01	1.00	1.00
Quick Ratio	0.12	0.10	0.11	0.10	0.10	0.08	0.09	0.08	0.07	0.06	0.05
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-13	-33	-15	-1.08	-62	-142	-114	-163	-57	-42	-78
Operating Cash Flow to CapEx	289.27%	320.73%	252.12%	286.02%	358.86%	281.91%	258.34%	428.29%	287.04%	174.00%	180.18%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.13	0.12	0.13	0.14	0.14	0.13	0.14	0.14	0.14	0.12	0.13
Accounts Receivable Turnover	58.90	79.69	96.07	100.98	96.45	98.18	119.97	99.38	74.59	94.21	97.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	57.93	55.61	59.34	64.01	66.68	61.97	62.24	62.79	59.38	43.42	37.56
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	6.20	4.58	3.80	3.61	3.78	3.72	3.04	3.67	4.89	3.87	3.76
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	6.20	4.58	3.80	3.61	3.78	3.72	3.04	3.67	4.89	3.87	3.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	60	59	81	83	189	221	217	265	262	283	315
Invested Capital Turnover	17.30	24.66	14.36	13.45	7.55	7.00	6.70	5.84	4.61	4.18	4.02
Increase / (Decrease) in Invested Capital	29	50	41	32	128	162	136	182	74	62	98
Enterprise Value (EV)	1,620	1,279	1,211	1,482	2,336	3,076	2,096	1,972	1,692	1,582	1,321
Market Capitalization	2,198	1,885	1,792	2,069	2,875	3,580	2,631	2,477	2,180	2,003	1,665
Book Value per Share	$1.78	$1.84	$1.79	$1.79	$1.91	$2.03	$2.09	$2.13	$2.08	$1.98	$1.91
Tangible Book Value per Share	$1.52	$1.57	$1.52	$1.50	$1.45	$1.53	$1.58	$1.35	$1.30	$1.17	$1.04
Total Capital	654	683	676	669	728	725	751	771	750	704	659
Total Debt	16	18	14	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	16	18	14	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-578	-606	-581	-586	-539	-504	-534	-506	-488	-422	-344
Capital Expenditures (CapEx)	14	18	16	14	14	16	21	17	19	32	29
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-43	-57	-39	-45	-552	-536	-552	-501	-395	-394	-383
Debt-free Net Working Capital (DFNWC)	550	567	556	541	-13	-31	-18	4.36	93	27	-38
Net Working Capital (NWC)	550	567	556	541	-13	-31	-18	4.36	93	27	-38
Net Nonoperating Expense (NNE)	3.74	-10	-3.05	-1.33	25	2.07	1.15	0.15	2.70	1.02	0.54
Net Nonoperating Obligations (NNO)	-578	-606	-581	-586	-539	-504	-534	-506	-488	-422	-344
Total Depreciation and Amortization (D&A)	7.12	8.75	8.93	7.91	10	11	12	16	16	23	19
Debt-free, Cash-free Net Working Capital to Revenue	-5.44%	-6.89%	-4.51%	-4.99%	-58.75%	-54.77%	-55.44%	-49.29%	-37.99%	-37.47%	-35.83%
Debt-free Net Working Capital to Revenue	69.65%	68.19%	64.11%	60.16%	-1.41%	-3.22%	-1.82%	0.43%	8.95%	2.58%	-3.60%
Net Working Capital to Revenue	69.65%	68.19%	64.11%	60.16%	-1.41%	-3.22%	-1.82%	0.43%	8.95%	2.58%	-3.60%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.04	$0.08	$0.08	$0.09	$0.12	$0.05	$0.06	$0.05	$0.04	$0.05	$0.06
Adjusted Weighted Average Basic Shares Outstanding	357.43M	361.68M	359.31M	356.32M	357.30M	358.35M	362.98M	368.77M	368.27M	361.17M	345.34M
Adjusted Diluted Earnings per Share	$0.03	$0.07	$0.08	$0.09	$0.11	$0.03	$0.05	$0.05	$0.04	$0.05	$0.06
Adjusted Weighted Average Diluted Shares Outstanding	381.85M	392.67M	378.72M	373.37M	374.30M	386.24M	382.22M	380.63M	377.63M	376.73M	350.47M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	361.81M	368.75M	373.43M	381.82M	356.61M	359.85M	361.67M	360.32M	356.44M	344.77M	334.78M
Normalized Net Operating Profit after Tax (NOPAT)	17	17	26	31	25	20	22	20	25	20	20
Normalized NOPAT Margin	7.96%	7.50%	11.36%	12.98%	9.91%	7.74%	8.81%	7.53%	9.39%	7.29%	7.69%
Pre Tax Income Margin	10.98%	18.41%	18.79%	20.16%	8.90%	10.01%	11.26%	11.45%	11.26%	10.00%	11.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	61.27%	59.40%	93.03%	135.28%	123.87%	129.86%	110.09%	108.64%	155.29%	237.19%	319.80%

Financials Breakdown Chart

Key Financial Trends

Here is a concise trend snapshot for Payoneer Global Inc. (PAYO) based on the last four years of quarterly statements (2022 through 2025). The bullets focus on key revenue, profitability, cash flow, liquidity, leverage, and capital allocation trends.

Revenue has trended up over the period, rising from about $183.6 million in 2022 Q4 to about $274.7 million in 2025 Q4, reflecting sustained growth.
Net income has shifted from recurring losses in 2022–2023 to positive quarterly earnings in 2024–2025, with 2025 Q4 net income attributable to common shareholders about $19.0 million.
Cash flow from operations remained solid in 2025, with quarterly net cash from continuing operating activities around $54–$71 million (e.g., 70.7 million in 2025 Q2 and 54.9 million in 2025 Q4).
In the Q4 2025 quarter, the company generated positive free cash flow for that period, aided by strong operating cash flow and manageable capital expenditures (OCF ~$54.9m vs. capex ~ $31.6m; investing cash outflow ~ -$49.0m), signaling some cash-generating ability to fund growth.
In several quarters, PAYO engaged in meaningful share repurchases (e.g., around $78.6 million in 2025 Q4 and ~$45.3 million in 2025 Q3), representing capital allocation that could support per-share metrics for investors.
Liquidity appears tight but reasonable for a growth-focused business: total current assets and total current liabilities are broadly aligned in 2025 (e.g., 7.40B vs 7.31B in 2025 Q3), yielding a current ratio around 1.0.
The balance sheet is highly leveraged, with total liabilities around $7.45B versus equity of about $0.75B in 2025, indicating a large debt load relative to equity and higher financial risk.
Financing activities produced sizable cash inflows in some quarters (e.g., net cash from continuing financing activities around $70.1 million in 2025 Q4 and substantial positive amounts from other financing activities), suggesting reliance on external funding to boost cash, rather than pure operating cash flow.
The expense mix remains elevated (SG&A, Marketing, and R&D) in 2025, weighing on margins in several quarters (SG&A ~$38.3m, Marketing ~$63.6m, R&D ~$40.9m in 2025 Q4), contributing to quarterly earnings variability.
Quarter-to-quarter profitability and operating margins show swings (e.g., total operating income varies by quarter), reflecting a mix of growth investments and cost pressures typical of a high-growth fintech/payments platform.
Leverage risk remains a key concern: heavy liabilities relative to equity and the substantial debt load could pressure profitability and cap future financing flexibility if market conditions tighten.
While near-term liquidity is acceptable, the current ratio hovering near 1.0 and large near-term obligations imply ongoing liquidity monitoring is prudent, especially if operating cash flow slows or investment needs rise.

05/14/26 07:51 AM ETAI Generated. May Contain Errors.

Payoneer Global Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Payoneer Global's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Payoneer Global's net income appears to be on an upward trend, with a most recent value of $73.19 million in 2025, falling from -$625 thousand in 2019. The previous period was $121.16 million in 2024. View Payoneer Global's forecast to see where analysts expect Payoneer Global to go next.

Payoneer Global's total operating income in 2025 was $124.67 million, based on the following breakdown:

Total Gross Profit: $1.05 billion
Total Operating Expenses: $928.11 million

Over the last 6 years, Payoneer Global's total revenue changed from $317.75 million in 2019 to $1.05 billion in 2025, a change of 231.3%.

Payoneer Global's total liabilities were at $8.25 billion at the end of 2025, a 14.5% increase from 2024, and a 137.1% increase since 2020.

In the past 5 years, Payoneer Global's cash and equivalents has ranged from $102.99 million in 2020 to $617.02 million in 2023, and is currently $415.54 million as of their latest financial filing in 2025.

Over the last 6 years, Payoneer Global's book value per share changed from 0.00 in 2019 to 1.98 in 2025, a change of 197.6%.

Related Companies

Financial statements for NASDAQ:PAYO last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Payoneer Global (PAYO) Financials

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Payoneer Global (PAYO) Financials

Annual Income Statements for Payoneer Global

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Quarterly Cash Flow Statements for Payoneer Global

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Quarterly Balance Sheets for Payoneer Global

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Quarterly Metrics And Ratios for Payoneer Global

Financials Breakdown Chart

Key Financial Trends

Payoneer Global Financials - Frequently Asked Questions

When does Payoneer Global's fiscal year end?

How has Payoneer Global's net income changed over the last 6 years?

What is Payoneer Global's operating income?

How has Payoneer Global's revenue changed over the last 6 years?

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How has Payoneer Global's book value per share changed over the last 6 years?

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