Is the business good?
How good a business is FLYW?
Flywire Corporation earns 5.0% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
5.0%
Return on invested capital · cost of capital 9.0% · 4.0 points below what the capital costs: growth destroys value
- Operating margin
- 4.9%
Operating margin · Software - Infrastructure median 6.1% · 12 months to Q1 2026
- Share count, year on year
- +3.8%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 11%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −12% |
| FY2021 | −6.6% |
| FY2022 | −10% |
| FY2023 | −5.3% |
| FY2024 | −1.5% |
| FY2025 | 1.8% |
Details›
- Operating margin12 months to Q1 2026
- 4.9%
- Net margin12 months to Q1 2026
- 4.5%
- Free cash flow margin
- 24%
- R&D as % of revenue
- 11%
- Revenue, trailing twelve months
- $678M
- Free cash flow, trailing twelve months
- $164M
- Net income, trailing twelve months
- $30M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 5.0%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Software - Infrastructure
Ranks #39 of 78 by Smart Score