Repay Holdings Corp key statistics and ratios

In fiscal 2025, Repay Holdings Corp had return on equity of -41.2%, an operating margin of -82.4%, debt equal to 89.6% of equity and a current ratio of 0.82. 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.

Repay Holdings Corp: financial ratios, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	—	—	—	73.3%	74.7%	76.8%	76.5%	77.1%	75.0%	73.5%
Operating margin	17.4%	12.8%	−46.1%	−20.6%	−24.6%	−16.9%	−37.6%	−2.5%	−82.4%	−44.2%
Net margin	10.1%	8.1%	—	−68.1%	−22.8%	4.6%	−37.2%	−3.2%	−83.0%	−49.6%
Free-cash-flow margin	22.0%	17.9%	—	17.7%	23.0%	25.4%	34.7%	47.6%	29.4%	32.6%
Return on equity	—	—	—	−29.2%	−7.2%	1.5%	−12.9%	−1.3%	−41.2%	−35.0%
Return on assets	>999%	9.6%	—	−11.2%	−3.6%	0.8%	−7.0%	−0.7%	−18.5%	−11.9%
Asset turnover	532.81	1.19	0.21	0.16	0.16	0.17	0.19	0.20	0.22	0.24
Current ratio	0.16	0.97	0.84	1.82	1.04	1.42	3.14	2.69	0.82	1.45
Debt to equity	793.7%	>999%	102.5%	51.6%	52.6%	51.4%	54.0%	66.7%	89.6%	166.7%
Interest cover (operating income ÷ interest)	3.7x	3.0x	—	—	—	n/m	n/m	n/m	n/m	n/m
Effective tax rate	—	—	—	—	—	41.4%	—	—	—	—
SG&A as % of revenue	15.5%	22.4%	92.7%	56.3%	54.8%	53.4%	50.1%	46.5%	45.9%	45.7%
Capital spending as % of revenue	0.5%	0.7%	—	0.6%	1.3%	1.1%	0.2%	0.3%	0.1%	0.7%
Free cash flow ÷ net income	219.0%	220.8%	—	—	—	553.5%	—	—	—	—
Dividends and buybacks ÷ free cash flow	—	—	—	5.1%	8.0%	3.7%	1.8%	—	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

Repay Holdings Corp: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	77.8%	76.3%	75.9%	75.7%	74.4%	74.2%	76.1%	70.1%
Operating margin	−0.9%	−1.5%	−4.7%	−138.7%	−3.9%	−182.2%	−0.0%	−3.2%
Net margin	4.1%	−5.3%	−10.3%	−135.2%	−8.3%	−178.3%	−12.3%	−10.9%
Free-cash-flow margin	75.6%	43.5%	3.0%	43.8%	41.3%	29.6%	20.7%	37.8%
Current ratio	2.70	2.69	3.71	0.85	0.81	0.82	1.79	1.45
Debt to equity	65.8%	65.3%	65.8%	78.6%	69.0%	88.1%	81.7%	159.4%
SG&A as % of revenue	46.4%	46.6%	47.8%	43.5%	45.2%	47.1%	44.5%	45.9%

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

1 of 7 checks passed · June 30, 2026

What it owns · $1.6bn

Short-term assets $213mLonger-term assets $1.4bn

What it owes, and who funded it · $1.6bn

Short-term liabilities $147mLonger-term liabilities $992mShareholders' equity $473m

Short-term assets cover short-term liabilities $213m of assets due within a year against $147m of liabilities due within a year.
Short-term assets cover long-term liabilities $213m short-term assets against $992m of longer-dated liabilities.
More cash than debt $84m of cash against $753m of debt.
Debt below 40% of shareholders' equity Debt is 159% of equity.
Debt burden no higher than five years ago Debt to equity moved from 51% to 159% over five years.
A year's operating cash flow covers at least 20% of debt $113m of operating cash flow against $753m of debt.
Operating profit covers interest at least five times over Operating income of −$149m against $20m of interest.

From Repay Holdings 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

45 /100

Moderate moat

How hard Repay Holdings's competitive advantage looks for rivals to wear away, judged from 8 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 -4.3% of total assets over 8 years.
Durability 10 / 20

Operating margin has been a median -26.4%; its worst year was -44.2%.
Cash conversion 20 / 20

Free cash flow was positive in 7 of 7 years, at a median 29.8% 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 (50 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

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Figures from Repay Holdings 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 Repay Holdings Corp.