COMPARE · Reviewed July 14, 2026
DLO vs PGY
Verdict: Side-by-side breakdown using the Bull Rankings model. DLO scored 89.0, PGY scored 87.8 — DLO leads.
Compare another set
DLO
DLocal Limited
89
$14.84 · $4.4B
Score gap
1.2
DLO leads
PGY
Pagaya Technologies Ltd.
87.8
$18.27 · $1.5B
The model, pillar by pillar (0–100 each)
DLO
stronger →← stronger
PGY
84
Qualityreturns · margins · balance sheet
68
100
Growthrevenue & earnings expansion
100
84
Valuevaluation vs sector peers
99
DLO and PGY split the three pillars evenly.
Fundamentals, head-to-head
DLO
PGY
$413mC
FCF
$234mC
+46.6%A
Rev
+25.6%A-
0.20B+
D/E
1.47C
23.2xB+
P/E
16.3xA-
0.50A
PEG
0.05A
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
DLO
PGY
57% below
Price vs fair valuelower is cheaper
66% below
~-6%/yr
Growth the price implies10-yr FCF · lower = less priced in
~-16%/yr
+77%
1-yr DCF upside
+154%
+134%
5-yr DCF upside
+198%
+251%
10-yr DCF upside
+274%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
DLO
Why this score
- Durable high returns
- Diluting shareholders
PGY
Why this score
- Durable high returns
- Diluting shareholders
The companies
DLODLocal Limited
Why now
Software - Infrastructure · market cap $4.4b. 12% off the 52-week high of $16.78. Revenue growing +47% — in hypergrowth territory. PEG 0.50 — paying under fair value for the growth rate. 10 sell-side analysts rate this a Strong Buy with a mean 1-yr target of $17.85 (implying +20% upside).
Moat
Net margin 18% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 35% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong.
Risk
Software — competitive moat is durable until it isn't; watch net revenue retention, gross margin trends, and any new market entrant with a fundamentally lower price point.
PGYPagaya Technologies Ltd.
Why now
Software - Infrastructure · market cap $1.5b. Down 59% from 52-week high of $44.99 — deep drawdown territory. Revenue growing +26% — in hypergrowth territory. PEG 0.05 — paying under fair value for the growth rate. 10 sell-side analysts rate this a Strong Buy with a mean 1-yr target of $26.50 (implying +45% upside).
Moat
ROE 16% sits above Buffett's preferred 15% threshold — the equity base is compounding at a rate the market struggles to discount accurately. Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong. Software economics — recurring revenue, embedded customer workflows, and high gross margin all compound the moat once a base account is won. Switching costs are the lever.
Risk
Down 59% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Beta 5.34 implies above-market volatility — position-size to the drawdowns this name will produce in a market correction, not to its bull-case return. Software — competitive moat is durable until it isn't; watch net revenue retention, gross margin trends, and any new market entrant with a fundamentally lower price point.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.