FirmAtlas
Company handbook · PYPL · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
PYPL · CIK 1633917 · LATEST FILING: 10-Q JUN '26 · FILED JUL 28, 2026
PayPal Holdings, Inc.
$56.70
−0.46 (−0.80%)
Close, Oct 16, 2026 · 52-week $38–79
Last fiscal year
PayPal Holdings, Inc. reported revenue of $33.2B for the year ended Dec 31, 2025 (FY25), up 4.3% from FY24. Net income was $5.2B, operating cash flow $6.4B and free cash flow $5.6B. Source: 10-K filed Feb 3, 2026.
Market cap
$52.2B
P/E
10.3
EV/EBITDA
5.1x
P/B
2.6
Div yield
0.99%
ROIC
129.4%
Revenue 1Y
4.3%/yr
EPS 1Y
35.6%/yr
Shares 1Y
−7%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOEnrique Lores
HQSan Jose, CA
AuditorPricewaterhouseCoopers LLP
Employees23,800
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
3.7%
−26.7%
−0.2%
−14.2%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$13.8B deployed
Capex
$1.5B
11.2%
Dividends
$130M
0.9%
Buybacks
$12.1B
87.9%
Operating cash flow over the period: $13.9B. Total debt changed by +$110M.
More cash than debt at the end of FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
31,797
33,172+4.3%
33,734
YoY
+4.3%
Operating income
5,325
6,065+13.9%
6,023
Operating margin
16.7%
18.3%+1.5 pp
—
EBITDA
6,357
7,028+10.6%
—
EBITDA margin
20.0%
21.2%+1.2 pp
—
Interest expense
382
441+15.4%
—
Interest coverage
16.64x
15.94x−0.70x
—
Net income
4,147
5,233+26.2%
5,059
YoY
+26.2%
Net margin
13.0%
15.8%+2.7 pp
—
EPS (diluted, $)
3.99
5.41+35.6%
5.36
YoY
+35.6%
Balance sheet
Total assets
78,725
80,173+1.8%
80,546
Cash & short-term investments
26,752
26,391−1.3%
—
Accounts receivable
984
840−14.6%
—
Net PP&E
1,508
1,700+12.7%
—
Other assets
49,481
51,242+3.6%
—
Total liabilities
58,308
59,917+2.8%
60,522
Accounts payable
227
240+5.7%
—
Total debt
9,884
9,994+1.1%
10,881
Other liabilities
48,197
49,683+3.1%
—
Shareholders’ equity
20,417
20,256−0.8%
20,024
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
7,450
6,416−13.9%
6,390
Net income
4,147
5,233+26.2%
—
Depreciation & amortization
1,032
963−6.7%
—
Stock-based compensation
1,230
1,002−18.5%
—
Working capital & other
1,041
(782)−175.1%
—
Cash from investing
1,689
797−52.8%
—
Capex
(683)
(852)n/m
—
PP&E sold
1
3+200.0%
—
Investments bought
(26,209)
(20,399)n/m
—
Investments sold / matured
33,455
27,173−18.8%
—
Other investing
(4,875)
(5,128)n/m
—
Cash from financing
(8,276)
(5,958)n/m
—
Debt raised
1,546
2,637+70.6%
—
Debt repaid
(1,661)
(2,155)n/m
—
Dividends
0
(130)n/m
—
Buybacks
(6,047)
(6,052)n/m
—
Shares issued
95
117+23.2%
—
Other financing
(2,209)
(375)n/m
—
Net change in cash
656
1,528+132.9%
—
Free cash flow (OCF − capex)
6,767
5,564−17.8%
5,503
Where the cash went
Operating cash flow
7,450
6,416−13.9%
6,390
Reinvested in the business
683
852+24.7%
—
% of operating cash flow
9.2%
13.3%
Capex
683
852+24.7%
887
Free cash flow
6,767
5,564−17.8%
5,503
YoY
−17.8%
Returned to shareholders
6,047
6,182+2.2%
—
% of free cash flow
89.4%
111.1%
Dividends
0
130n/m
—
Buybacks
6,047
6,052+0.1%
—
Change in total debt
—
110
—
Cash left over
—
(508)
—
FCF conversion (FCF ÷ net income)
163.2%
106.3%−56.9 pp
—
Owner earnings
—
5,501
—
Owner earnings margin
—
16.6%
—
Buyback yield
7.1%
11.3%+4.1 pp
—
Returns & ratios
ROIC (all capital)
118.5%
129.4%+10.8 pp
—
ROIC (operating)
185.7%
209.9%+24.2 pp
—
Net debt / EBITDA
−2.65x
−2.33x+0.32x
—
Debt / equity
0.48x
0.49x+0.01x
—
ROE
20.3%
25.8%+5.5 pp
—
ROA
5.3%
6.5%+1.3 pp
—
ROCE
16.0%
18.0%+2.0 pp
—
NOPAT
4,207
4,791+13.9%
—
Invested capital (operating)
2,265
2,300+1.5%
—
Invested capital (all)
3,549
3,859+8.7%
—
Reinvestment rate
—
0.7%
—
Income
Jun '25
Sep '25
Dec '25
Mar '26
Revenue
8,288
8,417
8,676
8,353
vs year-ago quarter
Operating income
1,504
1,520
1,511
1,488
Net income
1,261
1,248
1,437
1,113
vs year-ago quarter
Net margin
15.2%
14.8%
16.6%
13.3%
EPS (diluted, $)
1.29
1.30
1.56
1.21
vs year-ago quarter
Balance sheet
Jun '25
Sep '25
Dec '25
Mar '26
Total assets
79,777
79,801
80,173
80,546
Cash & equivalents
18,980
23,853
26,391
22,443
Total debt
11,301
11,281
9,994
10,881
Shareholders’ equity
20,201
20,198
20,256
20,024
Cash flow
Jun '25
Sep '25
Dec '25
Mar '26
Operating cash flow
898
1,974
2,384
1,134
Capex
206
256
194
231
Free cash flow
692
1,718
2,190
903
vs year-ago quarter