Forensic, Research

PagSeguro Notebook

Richard Sbaschnig, CFA, VP, Forensic Research
Nick Elliott, CFA, Senior Forensic Analyst
22 July 2021


The weighted average age of PAGS’s receivables appears to have increased over the past several periods from about 23 days at the end of 2018 to nearly 50 days at 1Q21 with ≈23% past due over 120 days at March 31st. Slower receivables collection could signal underlying issues by its customers which could signal future revenue growth headwinds.

Want to learn more? Download the Report.


Forensic Accounting Research
Understand implications of public company financial reporting.
Fundamental Equity Research
Gain a comprehensive view of global themes, industries, and companies.