PagSeguro Digital (PAGS) Company Report

Analyst Coverage

Research analysts who have asked questions during PagSeguro Digital earnings calls.

Renato Meloni

Autonomous Research

7 questions for PAGS

Also covers: BAP, BBD, BDORY +3 more

Antonio Ruette

Bank of America

4 questions for PAGS

Also covers: INTR, XP

Beatriz Bomfim de Abreu

Goldman Sachs Group, Inc.

3 questions for PAGS

Also covers: BCH, BSAC, DLO +2 more

Eric Ito

Bradesco BBI

3 questions for PAGS

Also covers: BSAC, INTR

James Friedman

Susquehanna Financial Group, LLLP

3 questions for PAGS

Also covers: AFRM, AVDX, BETR +18 more

Maria Guedes

Banco Safra

3 questions for PAGS

Antonio Buichi

Bank of America

2 questions for PAGS

Arnon Shirazi

BTG Pactual

2 questions for PAGS

Also covers: BDORY, ITUB, XP

Carlos Gomez-Lopez

HSBC

2 questions for PAGS

Also covers: BAP, BBAR, BBD +8 more

Christopher Svensson

Deutsche Bank AG

2 questions for PAGS

Also covers: EVTC, FLYW, PAYO +2 more

Ernan Churezzi

Citigroup Inc.

2 questions for PAGS

Kaio Penso Da Prato

UBS

2 questions for PAGS

Also covers: MELI, STNE

William Buonsanti Barranjard

Itaú Corretora de Valores S.A.

2 questions for PAGS

Also covers: PAX, STNE, VINP

Bryan Keane

Deutsche Bank

1 question for PAGS

Also covers: ACN, ADP, AVDX +15 more

Daniel Vaz

Banco Safra

1 question for PAGS

Also covers: BAP, BBD, BSBR +5 more

Gabriel Gusan

Citi

1 question for PAGS

Gustavo Schroden

Citigroup

1 question for PAGS

Also covers: BBD, BDORY, BSBR +5 more

Hernan

Citibank

1 question for PAGS

Also covers: AFYA

John Coffey

Barclays PLC

1 question for PAGS

Also covers: DLO, NU, RPAY +2 more

Jorge Kuri

Morgan Stanley

1 question for PAGS

Also covers: BBD, BDORY, BSBR +3 more

Kamila

UBS Group AG

1 question for PAGS

Mario Pierry

Bank of America

1 question for PAGS

Also covers: BBD, BDORY, BSBR +5 more

Neha Agarwala

HSBC

1 question for PAGS

Also covers: BCH, BSAC, DLO +5 more

Pedro Leduc

Itau BBA

1 question for PAGS

Also covers: BBAR, BBD, BDORY +7 more

Ricardo Buchpiguel

BTG Pactual

1 question for PAGS

Also covers: BDORY, BLX, INTR +2 more

Tito Labarta

Goldman Sachs

1 question for PAGS

Also covers: BAP, BBAR, BBD +14 more

William Barranjard

Itaú BBA

1 question for PAGS

Also covers: PAX

Yuri Fernandes

JPMorgan Chase & Co.

1 question for PAGS

Also covers: AVAL, BAP, BBD +13 more

Latest news

Recent press releases and 8-K filings for PAGS.

PAGS Reports Q3 2025 Results with Revenue and EPS Growth, Updates FY25 Guidance, and Announces Leadership Changes

PAGS

Earnings

Guidance Update

Management Change

PAGS reported Q3 2025 Net Revenue ex-ITC of R$3.4 billion, a 14% increase year-over-year, and diluted GAAP EPS of R$1.88, also up 14% year-over-year. Net Income (non-GAAP) was R$571 million, stable year-over-year.
The Banking segment demonstrated strong performance, with Total Revenue and Income growing 50% year-over-year to R$744 million and Gross Profit increasing 59% year-over-year to R$536 million, now accounting for 28% of total Gross Profit.
PAGS updated its FY 2025 guidance, projecting Gross Profit growth of 5%-7% year-over-year and diluted GAAP EPS growth of 13%-15% year-over-year. The company also outlined 2029 goals, including a R$25 billion Credit Portfolio and CAGRs of >10% for Gross Profit and >16% for EPS.
The company announced a planned management succession, with Carlos Mauad becoming CEO and Gustavo Sechin becoming CFO, both effective January 1st, 2026. PAGS also returned R$2.0 billion to shareholders through buybacks and dividends over the last twelve months.

Nov 20, 2025, 9:00 PM

Presentation

PagBank Reports Strong 3Q25 Results and Announces Leadership Transition

PAGS

Earnings

CEO Change

CFO Change

PagBank reported recurring net income of BRL 571 million and net revenue of BRL 3.4 billion for the third quarter of 2025 (3Q25), representing a 14.4% year-over-year increase in net revenue.
The digital bank's deposits reached BRL 39.4 billion (+15.3% y/y) and its loan portfolio grew to BRL 4.2 billion (+29.9% y/y) in 3Q25.
PagBank distributed over BRL 2 billion to shareholders through dividends and share repurchases over the last 12 months.
Effective January 1, 2026, Carlos Mauad will assume the role of CEO, and Gustavo Sechin will become CFO; current CEO Alexandre Magnani and CFO Artur Schunk will transition to the Company's Board of Directors.

Nov 13, 2025, 12:00 PM

Press Release

PagSeguro Digital Ltd. Reports Strong Q3 2025 Earnings and Outlines Long-Term Goals

PAGS

Earnings

Guidance Update

Dividends

PagSeguro Digital Ltd. reported Q3 2025 diluted GAAP Earnings per Share (EPS) of R$1.88, an increase of 13.7% year-over-year, driven by banking performance and operating leverage.
Total Revenue and Income (excluding interchange fees) grew by 14.4% year-over-year to R$3,411 million in Q3 2025, reflecting a successful repricing strategy and increased contribution from the banking business, despite a 4.7% year-over-year decrease in Total Payment Volume (TPV) to R$129.8 billion.
The Banking segment's revenue increased by 50.2% year-over-year to R$744 million, and its credit portfolio grew by 29.9% year-over-year to R$4.2 billion in Q3 2025, highlighting its strategic importance and growth.
The company demonstrated commitment to shareholder value by repurchasing R$880 million in shares from January 1, 2025, to November 12, 2025, and planning R$1.4 billion in dividend distributions for 2026, in addition to R$617 million declared in 2025.
PagSeguro outlined long-term financial goals for 2029, including a credit portfolio of R$25 billion, gross profit CAGR above 10%, and EPS CAGR above 16%.

Nov 12, 2025, 9:04 PM

6-K

PagSeguro Digital Ltd. Reports Q3 2025 Financial Results

PAGS

Earnings

Share Buyback

Revenue Acceleration/Inflection

PagSeguro Digital Ltd. reported net income of R$554,486 thousand for the three-month period ended September 30, 2025, and R$1,616,337 thousand for the nine-month period ended September 30, 2025.
Total revenue and income for the three-month period ended September 30, 2025, was R$5,105,410 thousand, and R$15,013,736 thousand for the nine-month period.
The company's total liabilities decreased to R$57,397,264 thousand as of September 30, 2025, from R$58,232,245 thousand at December 31, 2024, while total equity increased to R$14,887,985 thousand from R$14,668,372 thousand over the same period.
Net cash provided by operating activities significantly improved, reaching R$5,634,678 thousand for the nine-month period ended September 30, 2025, compared to net cash used in operating activities of R$(2,815,377) thousand in the prior year period.
During the nine-month period ended September 30, 2025, the company repurchased R$744,115 thousand in treasury shares and cancelled 23,930,715 shares, leading to a decrease in the weighted average number of outstanding common shares.

Nov 12, 2025, 9:01 PM

6-K

PagSeguro Digital Ltd. Announces Capital Optimization Targets and Long-Term Financial Goals

PAGS

Dividends

Share Buyback

Guidance Update

PagSeguro Digital Ltd. expects to achieve a Basel Index (BIS) Target Level of 18% to 22%, which is anticipated to generate R$2 billion to R$3 billion in excess capital.
The company estimates R$3.8 billion in shareholder returns between 2025 and 2026, comprising R$1.4 billion in dividends in 2026, R$623 million in cash dividends already declared in 2025, R$696 million in stock buybacks executed in 2025, and a current share repurchase program of up to R$1.1 billion/US$200 million.
PagSeguro aims to achieve long-term financial goals by the end of 2029, targeting a Credit Portfolio of R$25 billion, Gross Profit CAGR greater than 10% from 2025 to 2029, and Earnings Per Share CAGR greater than 16% from 2025 to 2029.

Sep 18, 2025, 10:02 PM

6-K

PagSeguro Digital Outlines Strategic Vision and Long-Term Financial Targets

PAGS

Guidance Update

Dividends

New Projects/Investments

PagSeguro Digital is transitioning to a full digital bank, targeting a credit portfolio of BRL25 billion by 2029, a significant increase from its current BRL4 billion.
The company aims to return BRL5.5 billion to shareholders by 2026, including an extraordinary BRL1.4 billion in dividends planned for the coming quarters, in addition to BRL623 million already committed for this year, potentially leading to a total yield close to 20% with open buybacks.
Long-term financial targets include a gross profit CAGR over 10% and an EPS CAGR over 16% between 2025 and 2029.
The strategic shift involves increasing the mix of unsecured credit products and leveraging AI-powered solutions, with acceleration in credit growth expected after 2026.
A base capital ratio target of 18% to 22% has been set to ensure financial strength and support disciplined growth.

Sep 18, 2025, 9:00 PM

Transcript

PagSeguro Digital Outlines Strategic Plan Including Significant Credit Portfolio Growth and Shareholder Returns

PAGS

Guidance Update

Dividends

New Projects/Investments

PagSeguro Digital (PAGS) aims to grow its credit portfolio to BRL 25 billion by 2029, representing more than a five-fold increase from its current BRL 4 billion, with acceleration expected after 2026 and a focus on unsecured products and new offerings like private payroll and Pix finance.
The company plans to return over BRL 5.5 billion to shareholders by the end of 2026, including an extraordinary BRL 1.4 billion in dividends over the next quarters, in addition to BRL 623 million already committed for this year.
PAGS targets an EPS Compound Annual Growth Rate (CAGR) over 16% between 2025 and 2029, with gross profit CAGR over 10%, driven by a higher contribution from banking as credit operations expand.
PagSeguro Digital has set a Basel capital ratio target between 18%-22% for the midterm to long term, reflecting an optimization of its capital structure and an identified excess capital of BRL 2-3 billion.

Sep 18, 2025, 9:00 PM

Transcript

PagSeguro Digital Announces Strategic Update with Long-Term Financial Targets and Capital Allocation Plans

PAGS

Guidance Update

Dividends

New Projects/Investments

PagSeguro Digital (PAGS) is advancing its strategy to become a full digital bank, integrating payments, banking, and credit, with a focus on innovation and customer centricity.
The company targets an EPS CAGR over 16% and a gross profit CAGR over 10% between 2025 and 2029.
PAGS aims to grow its credit portfolio to BRL 25 billion by 2029, a significant increase from the current BRL 4 billion, by accelerating loan books with a mix of secure and unsecured products, including new offerings like private payroll and Pix finance.
To enhance shareholder value, PagSeguro plans an extraordinary BRL 1.4 billion in dividends over the next quarters, in addition to BRL 623 million already committed for this year, and targets a Basel capital ratio between 18%-22%.

Sep 18, 2025, 9:00 PM

Transcript

PagSeguro Digital Provides Strategic Update and Long-Term View

PAGS

Guidance Update

Dividends

Share Buyback

PagSeguro Digital (PagBank) presented a strategic update outlining its long-term view, emphasizing its position with a full banking offering and the largest payments acceptance network in Brazil, aiming to democratize financial services.
The company reported R$43 billion in deposits/funding in Q2 2025 and a diluted GAAP EPS of R$8.2 for 2025 YTD.
PagBank highlights significant growth opportunities in Brazil's financial market, with the payment sector projected to grow approximately 10% per annum, driven by 15% growth in PIX and 8% in card transactions.
The company plans to return over R$5.5 billion to shareholders, with R$3.8 billion expected between 2025 and 2026, including a R$1.4 billion dividend scheduled for payment in 2026, in addition to R$623 million already announced/paid in 2025.

Sep 18, 2025, 9:00 PM

Presentation

PAGS Outlines Strategic Plan with Significant Credit Portfolio Growth and Shareholder Returns

PAGS

Guidance Update

Dividends

New Projects/Investments

PagSeguro Digital (PAGS) targets a credit portfolio of BRL 25 billion by 2029, a substantial increase from its current BRL 4 billion, with growth accelerating after 2026 and focusing on higher-yield unsecured products such as working capital, overdrafts, new payroll loans, and Pix finance.
The company projects an EPS CAGR over 16% and a gross profit CAGR over 10% between 2025 and 2029, primarily driven by an increased contribution from its banking and credit segments.
PAGS plans to return BRL 5.5 billion to shareholders by the end of 2026, including an estimated BRL 3.8 billion in distributions between 2025 and 2026, and an extraordinary BRL 1.4 billion in dividends over the coming quarters.
The company maintains a Basel capital ratio target between 18%-22% to ensure financial strength and support disciplined growth.