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Side-by-side financial comparison of PEGASYSTEMS INC (PEGA) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $340.0M, roughly 1.3× Walker & Dunlop, Inc.). PEGASYSTEMS INC runs the higher net margin — 7.6% vs -12.9%, a 20.5% gap on every dollar of revenue. On growth, Walker & Dunlop, Inc. posted the faster year-over-year revenue change (-0.4% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% CAGR vs 10.7%).
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.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
PEGA vs WD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $430.0M | $340.0M |
| Net Profit | $32.8M | $-13.9M |
| Gross Margin | 75.2% | — |
| Operating Margin | 8.6% | -17.2% |
| Net Margin | 7.6% | -12.9% |
| Revenue YoY | -9.6% | -0.4% |
| Net Profit YoY | — | -131.0% |
| EPS (diluted) | $0.18 | $-0.41 |
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 | $430.0M | — | ||
| Q4 25 | $504.3M | $340.0M | ||
| Q3 25 | $381.4M | $337.7M | ||
| Q2 25 | $384.5M | $319.2M | ||
| Q1 25 | $475.6M | $237.4M | ||
| Q4 24 | $490.8M | $341.5M | ||
| Q3 24 | $325.1M | $292.3M | ||
| Q2 24 | $351.2M | $270.7M |
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | $-13.9M | ||
| Q3 25 | $43.4M | $33.5M | ||
| Q2 25 | $30.1M | $34.0M | ||
| Q1 25 | $85.4M | $2.8M | ||
| Q4 24 | $119.1M | $44.8M | ||
| Q3 24 | $-14.4M | $28.8M | ||
| Q2 24 | $6.6M | $22.7M |
| 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 | 20.7% | -17.2% | ||
| Q3 25 | 3.8% | 13.6% | ||
| Q2 25 | 4.5% | 14.5% | ||
| Q1 25 | 26.7% | 2.2% | ||
| Q4 24 | 29.1% | 15.3% | ||
| Q3 24 | -3.6% | 12.8% | ||
| Q2 24 | 3.7% | 10.4% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | -12.9% | ||
| Q3 25 | 11.4% | 9.9% | ||
| Q2 25 | 7.8% | 10.6% | ||
| Q1 25 | 18.0% | 1.2% | ||
| Q4 24 | 24.3% | 13.1% | ||
| Q3 24 | -4.4% | 9.9% | ||
| Q2 24 | 1.9% | 8.4% |
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | $-0.41 | ||
| Q3 25 | $0.24 | $0.98 | ||
| Q2 25 | $0.17 | $0.99 | ||
| Q1 25 | $0.91 | $0.08 | ||
| Q4 24 | $1.35 | $1.32 | ||
| Q3 24 | $-0.17 | $0.85 | ||
| Q2 24 | $0.07 | $0.67 |
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 | $299.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $705.9M | $1.7B |
| Total Assets | $1.6B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | $299.3M | ||
| Q3 25 | $351.4M | $274.8M | ||
| Q2 25 | $411.6M | $233.7M | ||
| Q1 25 | $371.7M | $181.0M | ||
| Q4 24 | $740.0M | $279.3M | ||
| Q3 24 | $703.0M | $179.8M | ||
| Q2 24 | $665.1M | $208.1M |
| Q1 26 | $705.9M | — | ||
| Q4 25 | $787.4M | $1.7B | ||
| Q3 25 | $596.8M | $1.8B | ||
| Q2 25 | $624.5M | $1.8B | ||
| Q1 25 | $611.3M | $1.7B | ||
| Q4 24 | $585.5M | $1.7B | ||
| Q3 24 | $473.0M | $1.7B | ||
| Q2 24 | $435.4M | $1.7B |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $5.1B | ||
| Q3 25 | $1.3B | $5.8B | ||
| Q2 25 | $1.3B | $4.7B | ||
| Q1 25 | $1.3B | $4.5B | ||
| Q4 24 | $1.8B | $4.4B | ||
| Q3 24 | $1.6B | $4.6B | ||
| Q2 24 | $1.5B | $4.2B |
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 | — | $-664.3M |
| Free Cash FlowOCF − Capex | $206.5M | $-680.1M |
| FCF MarginFCF / Revenue | 48.0% | -200.0% |
| Capex IntensityCapex / Revenue | — | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $494.9M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | $-664.3M | ||
| Q3 25 | $56.3M | $-948.1M | ||
| Q2 25 | $86.3M | $-238.5M | ||
| Q1 25 | $204.2M | $-281.1M | ||
| Q4 24 | $95.2M | $129.4M | ||
| Q3 24 | $30.5M | $-202.0M | ||
| Q2 24 | $40.1M | $-237.8M |
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | $-680.1M | ||
| Q3 25 | $51.8M | $-950.4M | ||
| Q2 25 | $84.1M | $-241.0M | ||
| Q1 25 | $202.3M | $-284.7M | ||
| Q4 24 | $92.4M | $116.4M | ||
| Q3 24 | $27.4M | $-204.0M | ||
| Q2 24 | $38.8M | $-241.7M |
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | -200.0% | ||
| Q3 25 | 13.6% | -281.5% | ||
| Q2 25 | 21.9% | -75.5% | ||
| Q1 25 | 42.5% | -120.0% | ||
| Q4 24 | 18.8% | 34.1% | ||
| Q3 24 | 8.4% | -69.8% | ||
| Q2 24 | 11.1% | -89.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 4.6% | ||
| Q3 25 | 1.2% | 0.7% | ||
| Q2 25 | 0.6% | 0.8% | ||
| Q1 25 | 0.4% | 1.5% | ||
| Q4 24 | 0.6% | 3.8% | ||
| Q3 24 | 0.9% | 0.7% | ||
| Q2 24 | 0.4% | 1.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | — | ||
| Q3 25 | 1.30× | -28.34× | ||
| Q2 25 | 2.87× | -7.02× | ||
| Q1 25 | 2.39× | -102.07× | ||
| Q4 24 | 0.80× | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | 6.06× | -10.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
WD
Segment breakdown not available.
