FLYWNasdaqServices-Business Services, NECFiscal year ends December 31
Flywire Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$18.17−0.30 (-1.62%)
Close on Oct 19, 2026
- Market cap
- $2.22B
- P/E (TTM)
- 69.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Operating margin
1.8%+13.8 pts over 5 years
Net margin
2.2%+10.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +26.6% | +29.1% | +36.4% | – | |
| Net income | +365.4% | – | – | – | |
| EPS, diluted | +450.0% | – | – | – | |
| Free cash flow | +1.1% | +189.5% | – | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 14.1% | 1.6% | |
| Return on assets | – | – | 1.1% | |
| Current ratio | – | 1.68 | 1.50 | |
| Debt to equity | – | -0.30 | – | |
| Net debt to EBITDA | – | 9.39× | – | |
| Interest coverage | – | -6.2× | 3.2× | |
| Capex to revenue | – | 1.6% | 0.2% | |
| Diluted shares | – | 18M | 128M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Flywire generated $297.75M from operations and spent $5.69M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$297.75M
Used
$5.69M
Capital expenditure$5.69M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin2.2%
×Asset turnover0.52×
×Equity multiplier1.44×
=Return on equity, FY20251.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 2.2% | 0.52× | 1.44× | 1.6% |
| FY2024 | 0.6% | 0.45× | 1.38× | 0.4% |
| FY2023 | -2.1% | 0.46× | 1.38× | -1.4% |
| FY2022 | -13.6% | 0.44× | 1.36× | -8.2% |
| FY2021 | -14.0% | 0.44× | 2.28× | -14.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$13.50M
- Cash generatingOperating cash flow above zero$100.18M
- Return on assets improvedROA up on the prior year0.3% → 1.2%
- Earnings backed by cashOperating cash flow above net income$100.18M vs $13.50M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.63 → 1.50
- No dilutionShare count did not rise129M → 128M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.46 → 0.56