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Side-by-side financial comparison of Axos Financial, Inc. (AX) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $392.2M, roughly 1.1× Axos Financial, Inc.). Axos Financial, Inc. runs the higher net margin — 31.8% vs 7.6%, a 24.2% gap on every dollar of revenue. Over the past eight quarters, Axos Financial, Inc.'s revenue compounded faster (16.1% CAGR vs 10.7%).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
AX vs PEGA — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $392.2M | $430.0M |
| Net Profit | $124.7M | $32.8M |
| Gross Margin | — | 75.2% |
| Operating Margin | — | 8.6% |
| Net Margin | 31.8% | 7.6% |
| Revenue YoY | — | -9.6% |
| Net Profit YoY | 18.5% | — |
| EPS (diluted) | $2.15 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $392.2M | $430.0M | ||
| Q4 25 | $385.1M | $504.3M | ||
| Q3 25 | $323.4M | $381.4M | ||
| Q2 25 | $321.4M | $384.5M | ||
| Q1 25 | $308.8M | $475.6M | ||
| Q4 24 | $307.9M | $490.8M | ||
| Q3 24 | $320.7M | $325.1M | ||
| Q2 24 | $290.9M | $351.2M |
| Q1 26 | $124.7M | $32.8M | ||
| Q4 25 | $128.4M | $234.6M | ||
| Q3 25 | $112.4M | $43.4M | ||
| Q2 25 | $110.7M | $30.1M | ||
| Q1 25 | $105.2M | $85.4M | ||
| Q4 24 | $104.7M | $119.1M | ||
| Q3 24 | $112.3M | $-14.4M | ||
| Q2 24 | $104.9M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 71.5% | ||
| Q1 25 | — | 78.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | — | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | 45.6% | 20.7% | ||
| Q3 25 | 46.3% | 3.8% | ||
| Q2 25 | 48.5% | 4.5% | ||
| Q1 25 | 47.9% | 26.7% | ||
| Q4 24 | 48.8% | 29.1% | ||
| Q3 24 | 49.6% | -3.6% | ||
| Q2 24 | 49.6% | 3.7% |
| Q1 26 | 31.8% | 7.6% | ||
| Q4 25 | 33.3% | 46.5% | ||
| Q3 25 | 34.7% | 11.4% | ||
| Q2 25 | 34.4% | 7.8% | ||
| Q1 25 | 34.1% | 18.0% | ||
| Q4 24 | 34.0% | 24.3% | ||
| Q3 24 | 35.0% | -4.4% | ||
| Q2 24 | 36.0% | 1.9% |
| Q1 26 | $2.15 | $0.18 | ||
| Q4 25 | $2.22 | $0.81 | ||
| Q3 25 | $1.94 | $0.24 | ||
| Q2 25 | $1.89 | $0.17 | ||
| Q1 25 | $1.81 | $0.91 | ||
| Q4 24 | $1.80 | $1.35 | ||
| Q3 24 | $1.93 | $-0.17 | ||
| Q2 24 | $1.75 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $270.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.1B | $705.9M |
| Total Assets | $29.2B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $1.0B | $425.8M | ||
| Q3 25 | $2.6B | $351.4M | ||
| Q2 25 | $1.9B | $411.6M | ||
| Q1 25 | $2.0B | $371.7M | ||
| Q4 24 | $2.4B | $740.0M | ||
| Q3 24 | $2.6B | $703.0M | ||
| Q2 24 | $2.0B | $665.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $312.7M | — | ||
| Q1 25 | $377.4M | — | ||
| Q4 24 | $358.7M | — | ||
| Q3 24 | $313.5M | — | ||
| Q2 24 | $325.7M | — |
| Q1 26 | $3.1B | $705.9M | ||
| Q4 25 | $2.9B | $787.4M | ||
| Q3 25 | $2.8B | $596.8M | ||
| Q2 25 | $2.7B | $624.5M | ||
| Q1 25 | $2.6B | $611.3M | ||
| Q4 24 | $2.5B | $585.5M | ||
| Q3 24 | $2.4B | $473.0M | ||
| Q2 24 | $2.3B | $435.4M |
| Q1 26 | $29.2B | $1.6B | ||
| Q4 25 | $28.2B | $1.6B | ||
| Q3 25 | $27.4B | $1.3B | ||
| Q2 25 | $24.8B | $1.3B | ||
| Q1 25 | $24.0B | $1.3B | ||
| Q4 24 | $23.7B | $1.8B | ||
| Q3 24 | $23.6B | $1.6B | ||
| Q2 24 | $22.9B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.14× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | — |
| Free Cash FlowOCF − Capex | — | $206.5M |
| FCF MarginFCF / Revenue | — | 48.0% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $104.1M | $158.4M | ||
| Q3 25 | $118.4M | $56.3M | ||
| Q2 25 | $490.3M | $86.3M | ||
| Q1 25 | $73.7M | $204.2M | ||
| Q4 24 | $162.5M | $95.2M | ||
| Q3 24 | $70.8M | $30.5M | ||
| Q2 24 | $305.5M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $85.4M | $152.4M | ||
| Q3 25 | $109.3M | $51.8M | ||
| Q2 25 | $436.1M | $84.1M | ||
| Q1 25 | $65.1M | $202.3M | ||
| Q4 24 | $156.4M | $92.4M | ||
| Q3 24 | $53.0M | $27.4M | ||
| Q2 24 | $269.5M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | 22.2% | 30.2% | ||
| Q3 25 | 33.8% | 13.6% | ||
| Q2 25 | 135.7% | 21.9% | ||
| Q1 25 | 21.1% | 42.5% | ||
| Q4 24 | 50.8% | 18.8% | ||
| Q3 24 | 16.5% | 8.4% | ||
| Q2 24 | 92.6% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | 1.2% | ||
| Q3 25 | 2.8% | 1.2% | ||
| Q2 25 | 16.9% | 0.6% | ||
| Q1 25 | 2.8% | 0.4% | ||
| Q4 24 | 2.0% | 0.6% | ||
| Q3 24 | 5.5% | 0.9% | ||
| Q2 24 | 12.4% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.81× | 0.68× | ||
| Q3 25 | 1.05× | 1.30× | ||
| Q2 25 | 4.43× | 2.87× | ||
| Q1 25 | 0.70× | 2.39× | ||
| Q4 24 | 1.55× | 0.80× | ||
| Q3 24 | 0.63× | — | ||
| Q2 24 | 2.91× | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AX
| Net Interest Income | $306.3M | 78% |
| Noninterest Income | $86.0M | 22% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
