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Flywire Corp key statistics and ratios

In fiscal 2025, Flywire Corp had return on equity of 1.6%, an operating margin of 1.8%, debt equal to 1.8% of equity and a current ratio of 1.50. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Operating margin−18.4%−12.0%−6.6%−10.4%−5.3%−1.5%1.8%5.5%
Net margin−21.2%−8.4%−14.0%−13.6%−2.1%0.6%2.2%4.8%
Free-cash-flow margin0.3%−12.4%8.0%1.4%18.7%19.9%15.9%23.2%
Return on equity——−14.0%−8.2%−1.4%0.4%1.6%4.1%
Return on assets—−4.1%−6.2%−6.0%−1.0%0.3%1.1%2.8%
Asset turnover—0.490.440.440.460.450.520.59
Current ratio—1.683.782.542.982.631.501.52
Debt to equity——5.4%0.0%0.0%0.0%1.8%—
Interest cover (operating income ÷ interest)n/mn/mn/mn/mn/mn/m3.2x16.7x
Effective tax rate——————37.0%16.7%
R&D as % of revenue15.8%18.6%15.6%17.4%15.4%13.5%11.3%10.4%
Capital spending as % of revenue3.9%1.6%0.5%0.5%0.3%0.2%0.2%0.1%
Free cash flow ÷ net income—————>999%732.2%485.6%
Dividends and buybacks ÷ free cash flow90.8%—0.0%—————

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 3 checks passed · June 30, 2026
What it owns · $1.2bn
Short-term assets $504mLonger-term assets $659m
What it owes, and who funded it · $1.2bn
Short-term liabilities $331mLonger-term liabilities $15mShareholders' equity $817m
  • Short-term assets cover short-term liabilities $504m of assets due within a year against $331m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $504m short-term assets against $15m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $39m against $2m of interest.

From Flywire Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

37 /100

Weak moat

How hard Flywire's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -2.4% of total assets over 6 years.

  • Durability 10 / 20

    Operating margin has been a median -5.9%; its worst year was -9.9%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 5 of 6 years, at a median 13.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (42 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: FLYW vs MQFLYW vs PMTSFLYW vs IMXIFLYW vs PRTH

More: Transaction & Payment Processing Services stocks compared, Financials sector, rankings of US companies

Figures from Flywire Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Flywire Corp.