Paysafe Ltd
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Positive operating cash flow, a growing wallets segment and no maturity before 2028 stand against operating income that does not cover the interest, leverage of 5.5 times, tangible equity deep in the red and a shrinking merchant segment. Open questions, not an acute substance risk.
What the thesis turns on
Assessment: Opportunities & Risks
Paysafe is a profitable payments processor working under the debt load of its pre-listing life. On every revenue and cash flow measure the stock is cheap — and that is precisely the question: whether cheap here means opportunity, or simply describes the price of the fact that lenders get paid first out of every dollar earned. June 28, 2028 is the date on which that gets settled. Not investment advice.
Interest coverage
Fiscal 2025 put $71.9 million of operating income against $136.4 million of interest expense — coverage of 0.53. On a cash basis, operating cash flow of $236.2 million carries the interest; in accounting terms the company does not earn it.
Leverage
$2,615.2 million of debt as of December 31, 2025, $2.4 billion net — 5.5 times adjusted operating earnings of $428.8 million. The largest maturity block falls on June 28, 2028. In the first quarter of 2026 Paysafe repaid a net $104.3 million and reported a leverage ratio of 5.2.
Segments
Digital Wallets grew 6 percent to $814.7 million of revenue in 2025 and contributes $351.7 million of the adjusted operating earnings. Merchant Solutions lost 6 percent of revenue and 24 percent of its earnings contribution. Both grew again in the first quarter of 2026 (wallets 15 percent, merchant 6 percent).
Balance sheet substance
Goodwill of $2,076.3 million and intangibles of $874.1 million face equity of $655.0 million (December 31, 2025). On a tangible basis equity is roughly minus $2.3 billion. Impairments in the reported years stayed small at $1.4 / $0.8 / $1.3 million.
Valuation
Roughly $413 million of market value for $1,701.4 million of revenue and $428.8 million of adjusted operating earnings: price-to-sales about 0.24, price-to-book about 0.63. Even on enterprise value (about $2.78 billion, roughly 6.5 times adjusted earnings) this is not an expensive stock.
Ownership
The principal shareholders hold roughly 54.4 percent and Paysafe counts as a controlled company. An acquisition of more than 50 percent by a third party would make the entire debt immediately due and payable (20-F 2025, Item 3.D) — which caps the takeover speculation this valuation would otherwise invite.
Worth Noting
The hook was our in-house stock scanner: P/FCF ranking, U.S. selection, rank 41 of 545 hits with a displayed ratio of 2.03 (as of July 27, 2026). The page shows only the 25 strongest rows; Paysafe sits below them. The lists are recalculated daily.
Our data set carries a market value of roughly $354 million for Paysafe. We instead use the 51,676,354 shares outstanding from the Form 20-F as of December 31, 2025 and arrive at roughly $413 million; the fundamental data itself reports $411 million. Every valuation metric in this article rests on that own calculation.
The Form 25 of November 17, 2025 covers only the warrants from the blank-check transaction (exercise price $138.00), not the common shares. Those continue to trade on the New York Stock Exchange.
Do not confuse Paysafe Limited (PSFE) with the former Paysafe Group plc taken private in 2017, nor with Payoneer (PAYO) or Paysign (PAYS).
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at PSFE since then.
Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.
Price history
Chart
Interactive price chart (TradingView).
52-week range: 6.00 $ to 14.10 $ · Last price: 6.30 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Software - Infrastructure
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Paysafe Ltd PSFE | 0.3 | – | 8.6 | 56.1 | – | -0.2 | -55.2 |
| Microsoft Corporation MSFT | 3,632.6 | 30.8 | 17.6 | 67.9 | 46.3 | 14.9 | -1.6 |
| Oracle Corporation ORCL | 435.3 | 24.7 | 14.8 | 64.0 | 36.2 | 17.4 | -49.5 |
| Palantir Technologies Inc. PLTR | 432.5 | 199.0 | 147.5 | 84.8 | 46.2 | 56.2 | 4.7 |
| Palo Alto Networks Inc PANW | 305.7 | 302.6 | 194.0 | 70.4 | -2.5 | 14.9 | 84.7 |
| Crowdstrike Holdings Inc CRWD | 248.2 | – | 490.1 | 75.2 | -2.2 | 21.7 | 120.6 |
| Fortinet Inc FTNT | 124.2 | 61.8 | 39.6 | 80.2 | 31.3 | 14.2 | 115.0 |
| Cloudflare Inc NET | 115.1 | – | 2,805.8 | 72.6 | -9.7 | 29.9 | 56.1 |
| Synopsys Inc SNPS | 73.0 | 77.0 | 22.3 | 82.9 | 10.4 | 15.1 | -10.4 |
| Median of companies shown | 248.2 | 69.4 | 39.6 | 72.6 | 20.8 | 15.1 | 4.7 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2018 | 1,141 | 116 | -40 | -0.66 | -27 | 2,170 | 7,383 |
| 2019 | 1,418 | 52 | -110 | -1.83 | 289 | 2,058 | 7,327 |
| 2020 | 1,426 | 20 | -127 | -2.10 | 409 | 1,922 | 7,409 |
| 2021 | 1,487 | -269 | -111 | -1.84 | 261 | 2,570 | 7,267 |
| 2022 | 1,496 | -1,872 | -1,863 | -30.78 | 917 | 860 | 5,957 |
| 2023 | 1,601 | 159 | -20 | -0.33 | 234 | 883 | 5,228 |
| 2024 | 1,705 | 133 | 22 | 0.36 | 254 | 879 | 4,809 |
| 2025 | 1,701 | 122 | -183 | -3.14 | 236 | 655 | 4,804 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.54 | – | 420 | 1.30 | 8.00 | 59 | 26 |
| 2025: Q1 | -0.33 | -760.20 | 401 | -4.00 | -4.90 | 53 | 25 |
| 2025: Q2 | -0.85 | – | 428 | -2.70 | -11.70 | 40 | 4 |
| 2025: Q3 | -1.52 | – | 434 | 1.60 | -20.20 | 69 | 35 |
| 2025: Q4 | -0.45 | -183.90 | 438 | 4.40 | -5.80 | 75 | 72 |
| 2026: Q1 | -0.71 | – | 443 | 10.40 | -8.20 | 64 | 63 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Research
Risk & Weakness
- Below the 50- & 200-SMA
- Stage 4 (Downtrend)
- Stan Weinstein: Stage 4
- Stan Weinstein: Stage 4B-
- Weakness Cluster
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 2.01 | 1.93 – 2.07 | 1,814 | 2.9% | 5 |
| 12/31/2027 | 2.16 | 2.02 – 2.44 | 1,916 | 7.6% | 5 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
With these assumptions (discount rate 10.0%, terminal growth 2.5%), no growth rate between -20.0% and 60.0% per year explains today’s market value — the reverse calculation yields no meaningful figure here.
| Free cash flow (last twelve months) | $194.7M |
|---|---|
| Market cap | $334.0M |
| Free cash flow in year ten | – |
| Terminal value as a share of market value | – |
For comparison: over the past five years free cash flow shrank by 7.0% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Paysafe setzt maschinelles Lernen im eigenen Betrieb ein — für Underwriting, Betrugserkennung und Prozessautomatisierung —, verkauft aber kein KI-Produkt und weist keinen KI-Umsatz aus.
View the full file — quotes, sources, reviewed filings
„Underwriting & Risk Management—We have created sophisticated underwriting and real-time risk mitigation processes through a range of machine learning models and behavioral detection systems to identify potentially suspicious activity and reduce fraud."
Underwriting und Risikosteuerung — Wir haben anspruchsvolle Prüf- und Echtzeit-Risikoprozesse aufgebaut, die über eine Reihe von Modellen des maschinellen Lernens und Verhaltenserkennungssysteme potenziell verdächtige Aktivitäten identifizieren und Betrug verringern.
20-F · 2026-03-03 · View SEC filing
„Artificial Intelligence & Automation - we are leveraging the implementation of A.I. and process automation technologies to optimize the speed and operating efficiencies of our technology and risk management platforms as well as our internal processes and back office systems to generate better marginal cost efficiencies."
Künstliche Intelligenz und Automatisierung — Wir nutzen den Einsatz von KI und Prozessautomatisierung, um Geschwindigkeit und Effizienz unserer Technologie- und Risikoplattformen sowie unserer internen Abläufe und Backoffice-Systeme zu verbessern und damit bessere Grenzkosten zu erzielen.
20-F · 2026-03-03 · View SEC filing
„The outcomes of our reviews are driven back into our machine learning models for continuous improvement in accuracy."
Die Ergebnisse unserer Prüfungen fließen in unsere Modelle des maschinellen Lernens zurück, damit deren Treffsicherheit fortlaufend besser wird.
20-F · 2026-03-03 · View SEC filing
Filings Reviewed: 20-F 2026-03-03 · 6-K 2026-05-13 · 6-K 2026-03-03 · 20-F 2025-03-04 · 6-K 2025-11-13 · 6-K 2025-08-12
Rated on July 27, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 4.4%
- More than 10% revenue growth is expected for the coming year 6.5%
- Share count grows by less than 3% a year -1.4%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 12.9%
- Gross margin at 40% or higher and without meaningful erosion 40.3%
- Goodwill from acquisitions does not grow faster than revenue 43.2%
- Net debt below twice EBITDA 3.9 x EBITDA
- Operating cash flow covers the profits of the last three years 905 m
- Return on capital at 15% or higher, or up versus two years ago 3.6%
- Insiders hold at least 10% or are net buyers 29.0%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
4/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 5.9%
- Exp. sales growth 3Y > 5% 6.1%
- EBIT growth 10Y > 5% 0.8%
- Exp. EBIT growth 3Y > 5% 6.1%
- Net debt < 4x EBIT 10.7x
- EBIT positive, 10Y straight 6
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% –
- ROCE > 15% 3.6%
- Expected return > 10% 77.1%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 3, 2026 | Crawford John Harland | Chief Financial Officer | Other | 7,873 | 6.79 | 53,458 |
| Sep 3, 2026 | Crawford John Harland | Chief Financial Officer | Other | 32,331 | – | – |
| Aug 14, 2026 | Swales Richard | Chief Risk & Compliance Ofcr. | Sell | 10,000 | 6.58 | 65,800 |
The company
About the Company
Paysafe Limited bietet digitale Zahlungslösungen in den USA, Deutschland, dem Vereinigten Königreich und international an. Das Unternehmen ist in zwei Segmenten tätig: Merchant Solutions und Digital Wallets.
- Employees
- 2,800
- Headquarters
- London, United Kingdom
- Address
- 2 Gresham Street, EC2V 7AD London, United Kingdom
- Phone
- 44 20 7608 8460
- Website
- paysafe.com
- IPO Date
- 10/09/2020
- ISIN
- BMG6964L2062
- Stock Split
- 1:12 on 12/13/2022
Management
| Name | Title | Birth Year |
|---|---|---|
| Bruce F. Lowthers CPA | CEO & Executive Director | 1965 |
| John Crawford | Chief Financial Officer | 1971 |
| Roy Aston | Chief Operating Officer | 1979 |
| Nicole Nahlous | Chief Accounting Officer | – |
| Kirsten Nielsen | Senior Vice President of Investor Relations | – |
| Richard Swales | Chief Risk & Compliance Officer | 1972 |
| Elliott Mark Wiseman | Chief Legal Officer | 1974 |
| Kate Aldridge | Senior Vice President of Corporate Communications & Content | – |
| Alisa Barber | Chief Marketing Officer | – |
| Najuma Atkinson | Chief People Officer | 1972 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.