FLYW
Flywire Corporation
FLYW's fundamentals are strong and it looks cheap: trading at 35x earnings, about a third of its usual 121x. Analysts expect strong earnings growth.
FLYW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Healthy |
FLYW's revenue, profitability, cash flow and balance sheet are all currently healthy.
FLYW PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 34x | $21.47 | — |
| Current | 35x | $21.47 | — |
| Cheap | 68x | $41.45 | +93% |
| Fair | 120x | $73.41 | +242% |
| Expensive | 276x | $168 | +683% |
Historical ranges are pointers, not guarantees.
FLYW's PE is in its cheap range at 35x. If earnings grow as analysts expect, today's price would be 34x next year's earnings.
FLYW Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for FLYW, with profitability improving.
FLYW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.64 | +4.6% |
| Q3 2026 | $0.61 | +$0.63 |
| Q2 2026 | $0.27 | +440% |
| Q1 2026 | $0.24 | +500% |
| Q4 2025 | $0.11 | +450% |
| Q3 2025 | -$0.02 | -112% |
| Q2 2025 | $0.05 | +$0.10 |
| Q1 2025 | $0.04 | +$0.13 |
| Q4 2024 | $0.02 | +$0.09 |
FLYW has returned to profit: it earned $0.61 per share over the past year, after losing money the year before.
FLYW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $250.3M | +25% |
| Q2 2026 | $167.7M | +27% |
| Q1 2026 | $188.1M | +41% |
| Q4 2025 | $157.5M | +34% |
| Q3 2025 | $200.1M | +28% |
| Q2 2025 | $131.9M | +27% |
| Q1 2025 | $133.5M | +17% |
| Q4 2024 | $117.6M | +17% |
FLYW's revenue has grown year over year every quarter since early 2021: $250M last quarter, up 25% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +5 points |
| Q2 2026 | -1.6% | +5.2 points |
| Q1 2026 | 5.7% | +14 points |
| Q4 2025 | -0.6% | +4.3 points |
| Q3 2025 | 16% | +3.2 points |
| Q2 2025 | -6.8% | +8.4 points |
| Q1 2025 | -8.2% | -3 points |
| Q4 2024 | -4.9% | +5.1 points |
FLYW's operating margin was 21% last quarter, up 5 points from the same quarter a year ago, near the top of its range since 2020.
FLYW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $125M | -17% |
| Q2 2026 | $20.8M | -11% |
| Q1 2026 | -$16M | +$63.1M |
| Q4 2025 | $4.5M | +$46.1M |
| Q3 2025 | $149.9M | -21% |
| Q2 2025 | $23.5M | +$43.2M |
| Q1 2025 | -$79.1M | -$40.7M |
| Q4 2024 | -$41.6M | -170% |
FLYW generated $134M in free cash flow over the past year, up 154% from the year before.
FLYW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +6% | +7.3M shares |
| 1 year | +1.6% | +2M shares |
| 3 years | +3.4% | +4.2M shares |
| 5 years | +147% | +77.2M shares |
| Available history | +46% | +40.6M shares |
FLYW has 130M diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $20.5M |
| Q1 2026 | $10M |
| Q3 2025 | $10M |
| Q2 2025 | $5M |
| Q1 2025 | $49.3M |
| Q1 2021 | — |
| Q4 2020 | — |
FLYW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -4.9x | Net Cash |
| Q1 2026 | -6.1x | Net Cash |
| Q4 2025 | -12.3x | Net Cash |
| Q3 2025 | -17.3x | Net Cash |
| Q2 2025 | -26.1x | Net Cash |
| Q1 2025 | -741.5x | Net Cash |
| Q4 2024 | -125.1x | Net Cash |
FLYW has more cash than debt.
FLYW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.5 | Neutral |
| Stochastic | 89.5 | Overbought |
FLYW's weekly RSI is 68 (neutral) and its Stochastic is 90 (overbought).
FLYW PE vs Technology Sector
| Metric | FLYW | Sector median | Relative |
|---|---|---|---|
| PE | 35x | 28x | 26% above |
| PE % | 0 | 43 | 43 pts below |
FLYW is trading at 35x earnings, a 26% premium to the Technology sector's median of 28x.
FLYW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $19.3 | 11% above |
| 20 week MA | $18.5 | 16% above |
| 50 week MA | $15.7 | 37% above |
| 100 week MA | $14.4 | 49% above |
| 200 week MA | $19.3 | 11% above |
FLYW has climbed back above all five of its weekly moving averages, and it's now 11% above its 200-week average.
FLYW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $34.3 | $36.5 | +6.4% |
| 2022 | $36.5 | $21.9 | -40% |
| 2023 | $21.9 | $23.2 | +5.7% |
| 2024 | $23.2 | $20.3 | -13% |
| 2025 | $20.3 | $14.5 | -29% |
| 2026 YTD | $14.5 | $21.5 | +49% |
FLYW is up 49% so far in 2026, after finishing lower in three of the previous five years.