PayPal (PYPL) Financials

$44.23 -0.07 (-0.16%)

Closing price 05/22/2026 04:00 PM Eastern

Extended Trading

$44.23 +0.00 (+0.01%)

As of 05/22/2026 07:59 PM Eastern

Annual Income Statements for PayPal

This table shows PayPal's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	1,228	1,401	1,795	2,057	2,459	4,202	4,169	2,419	4,246	4,147	5,233
Consolidated Net Income / (Loss)	1,228	1,401	1,795	2,057	2,459	4,202	4,169	2,419	4,246	4,147	5,233
Net Income / (Loss) Continuing Operations	1,228	1,401	1,795	2,057	2,459	4,202	4,169	2,419	4,246	4,147	5,233
Total Pre-Tax Income	1,488	1,631	2,200	2,376	2,998	5,065	4,099	3,366	5,411	5,329	6,292
Total Operating Income	1,461	1,586	2,127	2,194	2,719	3,289	4,262	3,837	5,028	5,325	6,065
Total Gross Profit	9,248	10,842	13,094	15,451	17,772	21,454	25,371	27,518	29,771	31,797	33,172
Total Revenue	9,248	10,842	13,094	15,451	17,772	21,454	25,371	27,518	29,771	31,797	33,172
Operating Revenue	9,248	10,842	13,094	15,451	17,772	21,454	25,371	27,518	29,771	31,797	33,172
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	7,787	9,256	10,967	13,257	15,053	18,165	21,109	23,681	24,743	26,472	27,107
Selling, General & Admin Expense	921	1,028	1,390	1,850	1,711	2,070	2,114	2,099	2,059	2,147	1,979
Marketing Expense	937	969	1,142	1,314	1,401	1,861	2,445	2,257	1,809	2,001	2,283
Research & Development Expense	792	834	1,740	1,831	2,085	2,642	3,038	3,253	2,973	2,979	3,103
Other Operating Expenses / (Income)	4,529	5,701	6,695	8,262	9,785	11,453	13,450	15,865	17,986	18,907	19,411
Restructuring Charge	-	-	-	-	71	139	-	-	-84	438	331
Total Other Income / (Expense), net	27	45	73	182	279	1,776	-163	-471	383	4.00	227
Other Income / (Expense), net	27	45	73	182	279	1,776	-163	-471	383	4.00	227
Income Tax Expense	260	230	405	319	539	863	-70	947	1,165	1,182	1,059
Basic Earnings per Share	$1.00	$1.16	$1.49	$1.74	$2.09	$3.58	$3.55	$2.10	$3.85	$4.03	$5.46
Weighted Average Basic Shares Outstanding	1.22B	1.21B	1.20B	1.18B	1.17B	1.17B	1.17B	1.15B	1.10B	1.03B	959M
Diluted Earnings per Share	$1.00	$1.15	$1.47	$1.71	$2.07	$3.54	$3.52	$2.09	$3.84	$3.99	$5.41
Weighted Average Diluted Shares Outstanding	1.23B	1.22B	1.22B	1.20B	1.19B	1.19B	1.19B	1.16B	1.11B	1.04B	968M
Weighted Average Basic & Diluted Shares Outstanding	1.22B	1.21B	1.20B	1.17B	1.17B	1.17B	1.17B	1.13B	1.07B	989.24M	920.66M
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	-	-	$0.14

This table shows PayPal's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	1,020	1,402	888	1,128	1,010	1,121	1,287	1,261	1,248	1,437	1,113
Consolidated Net Income / (Loss)	1,020	1,402	888	1,128	1,010	1,121	1,287	1,261	1,248	1,437	1,113
Net Income / (Loss) Continuing Operations	1,020	1,402	888	1,128	1,010	1,121	1,287	1,261	1,248	1,437	1,113
Total Pre-Tax Income	1,241	1,793	1,209	1,399	1,311	1,410	1,603	1,529	1,533	1,627	1,393
Total Operating Income	1,168	1,728	1,168	1,325	1,391	1,441	1,530	1,504	1,520	1,511	1,488
Total Gross Profit	7,418	8,026	7,699	7,885	7,847	8,366	7,791	8,288	8,417	8,676	8,353
Total Revenue	7,418	8,026	7,699	7,885	7,847	8,366	7,791	8,288	8,417	8,676	8,353
Operating Revenue	7,418	8,026	7,699	7,885	7,847	8,366	7,791	8,288	8,417	8,676	8,353
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	6,250	6,298	6,531	6,560	6,456	6,925	6,261	6,784	6,897	7,165	6,865
Selling, General & Admin Expense	507	554	464	570	519	594	503	461	513	502	491
Marketing Expense	442	466	421	446	508	626	488	583	521	691	518
Research & Development Expense	739	770	742	718	746	773	731	767	801	804	793
Other Operating Expenses / (Income)	4,523	4,819	4,692	4,713	4,620	4,882	4,473	4,857	4,993	5,088	4,989
Restructuring Charge	-	-	212	113	63	-	66	116	69	80	74
Total Other Income / (Expense), net	73	65	41	74	-80	-31	73	25	13	116	-95
Other Income / (Expense), net	73	65	41	74	-80	-31	73	25	13	116	-95
Income Tax Expense	221	391	321	271	301	289	316	268	285	190	280
Basic Earnings per Share	$0.93	$1.29	$0.83	$1.08	$1.00	$1.12	$1.31	$1.30	$1.31	$1.54	$1.22
Weighted Average Basic Shares Outstanding	1.09B	1.10B	1.06B	1.04B	1.02B	1.03B	986M	969M	950M	959M	913M
Diluted Earnings per Share	$0.93	$1.29	$0.83	$1.08	$0.99	$1.09	$1.29	$1.29	$1.30	$1.53	$1.21
Weighted Average Diluted Shares Outstanding	1.10B	1.11B	1.07B	1.05B	1.02B	1.04B	999M	977M	960M	968M	920M
Weighted Average Basic & Diluted Shares Outstanding	1.08B	1.07B	1.05B	1.02B	1.00B	989.24M	972.53M	955.38M	935.65M	920.66M	882.11M
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	-	-	$0.14

This table details how cash moves in and out of PayPal's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-808	-708	2,166	4,948	2,510	2,297	91	1,127	2,678	656	1,528
Net Cash From Operating Activities	2,546	3,158	2,531	5,480	4,071	6,219	5,797	5,813	4,843	7,450	6,416
Net Cash From Continuing Operating Activities	2,546	3,158	2,531	5,480	4,071	6,219	5,797	5,813	4,843	7,450	6,416
Net Income / (Loss) Continuing Operations	1,228	1,401	1,795	2,057	2,459	4,202	4,169	2,419	4,246	4,147	5,233
Consolidated Net Income / (Loss)	1,228	1,401	1,795	2,057	2,459	4,202	4,169	2,419	4,246	4,147	5,233
Depreciation Expense	608	724	805	776	912	1,189	1,265	1,317	1,072	1,032	963
Amortization Expense	-	-	-	-	-	-	73	-70	-367	-335	-83
Non-Cash Adjustments To Reconcile Net Income	596	819	994	1,153	965	130	1,239	2,182	686	1,802	-168
Changes in Operating Assets and Liabilities, net	114	214	-1,063	1,494	-265	698	-949	-35	-794	804	471
Net Cash From Investing Activities	-8,038	-5,904	-4,485	821	-5,742	-16,545	-5,149	-3,328	752	1,689	797
Net Cash From Continuing Investing Activities	-8,038	-5,904	-4,485	821	-5,742	-16,545	-5,149	-3,328	752	1,689	797
Purchase of Property, Plant & Equipment	-722	-669	-667	-823	-704	-866	-908	-706	-623	-683	-852
Purchase of Investments	-21,870	-22,564	-20,338	-22,381	-29,512	-41,840	-39,780	-20,219	-21,980	-26,209	-20,399
Sale of Property, Plant & Equipment	26	0.00	0.00	3.00	17	120	5.00	5.00	45	1.00	3.00
Divestitures	-	-	-	-	-	-	0.00	0.00	466	0.00	0.00
Sale and/or Maturity of Investments	16,148	18,429	18,448	25,019	24,878	30,908	39,698	48,314	50,955	47,571	42,909
Other Investing Activities, net	-395	-1,081	-1,605	1,127	-351	-1,258	-1,401	-30,722	-28,111	-18,991	-20,864
Net Cash From Financing Activities	4,728	2,038	4,084	-1,240	4,187	12,454	-557	-1,203	-2,993	-8,276	-5,958
Net Cash From Continuing Financing Activities	4,728	2,038	4,084	-1,240	4,187	12,454	-557	-1,203	-2,993	-8,276	-5,958
Repayment of Debt	-862	-21	-980	-1,115	-2,516	-3,052	-361	-1,685	-1,053	-1,721	-2,161
Repurchase of Common Equity	0.00	-995	-1,006	-3,520	-1,411	-1,635	-3,373	-4,199	-5,002	-6,047	-6,052
Payment of Dividends	-	-	-	-	-	-	-	-	0.00	0.00	-130
Issuance of Debt	-	-	1,800	2,075	5,471	6,966	272	3,475	1,528	1,546	2,637
Issuance of Common Equity	75	109	144	144	138	137	162	143	127	95	117
Other Financing Activities, net	5,515	2,945	4,126	1,176	2,505	10,038	2,743	1,063	1,407	-2,149	-369
Other Net Changes in Cash	-	0.00	36	-113	-	169	-	-155	76	-207	273
Cash Interest Paid	16	4.00	6.00	69	78	190	231	280	331	366	406
Cash Income Taxes Paid	216	48	117	328	665	565	474	878	2,118	1,027	1,099

This table details how cash moves in and out of PayPal's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	918	5,251	441	-2,828	1,987	956	-1,389	-2,101	4,873	165	-1,575
Net Cash From Operating Activities	1,259	2,614	1,917	1,525	1,614	2,394	1,160	898	1,974	2,384	1,134
Net Cash From Continuing Operating Activities	1,259	2,614	1,917	1,525	1,614	2,394	1,160	898	1,974	2,384	1,134
Net Income / (Loss) Continuing Operations	1,020	1,402	888	1,128	1,010	1,121	1,287	1,261	1,248	1,437	1,113
Consolidated Net Income / (Loss)	1,020	1,402	888	1,128	1,010	1,121	1,287	1,261	1,248	1,437	1,113
Depreciation Expense	270	263	265	263	255	249	245	239	245	234	238
Amortization Expense	-103	-102	-75	-122	-93	-45	-30	-27	-20	-6.00	-8.00
Non-Cash Adjustments To Reconcile Net Income	118	500	672	871	615	-319	29	492	218	-1,218	323
Changes in Operating Assets and Liabilities, net	-46	551	167	-615	-173	1,388	-371	-1,067	283	1,937	-532
Net Cash From Investing Activities	-307	-534	980	-4,647	2,799	2,457	-3,637	-20	4,772	-298	-2,100
Net Cash From Continuing Investing Activities	-307	-534	980	-4,647	2,799	2,457	-3,637	-20	4,772	-298	-2,100
Purchase of Property, Plant & Equipment	-158	-145	-154	-157	-169	-203	-196	-206	-256	-194	-231
Acquisitions	-	-	-	-	-	-	0.00	-	-	-	-122
Purchase of Investments	-4,452	-7,005	-7,081	-8,997	-4,815	-5,390	-5,970	-5,594	-4,387	-4,448	-5,923
Sale of Property, Plant & Equipment	4.00	1.00	0.00	-	-	1.00	2.00	1.00	-	-	8.00
Sale and/or Maturity of Investments	26,687	13,526	14,069	172	21,869	11,461	11,029	12,064	12,167	7,649	8,275
Other Investing Activities, net	-22,388	-7,377	-5,854	4,335	-14,086	-3,412	-8,502	-6,285	-2,752	-3,305	-4,107
Net Cash From Financing Activities	61	3,000	-2,362	200	-2,529	-3,585	994	-3,174	-1,829	-1,949	-559
Net Cash From Continuing Financing Activities	61	3,000	-2,362	200	-2,529	-3,585	994	-3,174	-1,829	-1,949	-559
Repayment of Debt	-	-111	-359	-72	-40	-1,250	-2.00	-1,211	-747	-201	-934
Repurchase of Common Equity	-1,434	-607	-1,501	-1,501	-1,776	-1,269	-1,500	-1,551	-1,500	-1,501	-1,500
Payment of Dividends	-	-	-	-	-	-	0.00	-	-	-	-130
Issuance of Debt	109	699	115	1,299	132	-	1,491	-	746	400	930
Other Financing Activities, net	1,386	2,974	-617	419	-845	-1,106	1,005	-486	-328	-560	1,075
Other Net Changes in Cash	-	-	-94	-	-	-	94	195	-44	28	-50
Cash Interest Paid	-	164	2.00	164	2.00	198	2.00	189	19	196	18
Cash Income Taxes Paid	152	1,060	83	739	153	52	95	742	196	66	7.00

This table presents PayPal's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	28,881	33,103	40,774	43,332	51,333	70,379	75,803	78,624	82,166	78,725	80,173
Total Current Assets	20,648	25,733	32,645	32,963	38,495	50,995	52,574	57,424	62,569	58,206	59,759
Cash & Equivalents	1,393	1,590	2,883	7,575	7,349	4,794	5,197	7,776	9,081	6,662	8,049
Short-Term Investments	2,018	3,385	2,812	1,534	3,412	8,289	4,303	3,092	4,979	4,262	2,373
Note & Lease Receivable	4,184	5,348	1,314	2,532	3,972	2,769	4,846	7,431	5,433	6,422	6,746
Accounts Receivable	12,398	14,577	18,525	20,375	22,962	33,995	36,941	37,227	40,004	38,655	39,038
Prepaid Expenses	655	833	713	947	800	1,148	1,287	1,898	2,509	1,664	1,827
Other Current Assets	-	0.00	6,398	-	-	-	-	0.00	563	541	1,726
Plant, Property, & Equipment, net	1,344	1,482	1,528	1,724	1,693	1,807	1,909	1,730	1,488	1,508	1,700
Total Noncurrent Assets	6,889	5,888	6,601	8,645	11,145	17,577	21,320	19,470	18,109	19,011	18,714
Long-Term Investments	2,348	1,539	1,961	971	2,863	6,089	6,797	5,018	3,273	4,583	4,330
Goodwill	4,069	4,059	4,339	6,284	6,212	9,135	11,454	11,209	11,026	10,837	10,864
Intangible Assets	358	211	168	825	778	1,048	1,332	788	537	326	208
Other Noncurrent Operating Assets	114	79	133	565	1,292	1,305	1,737	2,455	3,273	3,265	3,312
Total Liabilities & Shareholders' Equity	28,881	33,103	40,774	43,332	51,333	70,379	75,803	78,624	82,166	78,725	80,173
Total Liabilities	15,122	18,391	24,780	27,946	34,404	50,316	54,076	58,350	61,115	58,308	59,917
Total Current Liabilities	13,617	16,878	22,863	25,904	26,919	38,447	43,029	45,008	48,466	45,490	46,443
Accounts Payable	145	192	257	281	232	252	197	126	139	227	240
Accrued Expenses	1,179	1,459	1,781	2,002	2,087	2,648	3,755	4,868	6,392	5,592	6,005
Other Current Liabilities	12,261	15,163	19,742	21,562	24,527	35,418	38,841	40,014	41,935	39,671	40,198
Total Noncurrent Liabilities	1,505	1,513	1,917	2,042	7,485	11,869	11,047	13,342	12,649	12,818	13,474
Long-Term Debt	-	-	-	0.00	4,965	8,939	8,049	10,417	9,676	9,879	9,987
Other Noncurrent Operating Liabilities	-	-	-	-	-	-	-	2,925	2,973	2,939	3,487
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	13,759	14,712	15,994	15,386	16,929	20,063	21,727	20,274	21,051	20,417	20,256
Total Preferred & Common Equity	13,759	14,712	15,994	15,386	16,885	20,019	21,727	20,274	21,051	20,417	20,256
Preferred Stock	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	13,759	14,712	15,994	15,386	16,885	20,019	21,727	20,274	21,051	20,417	20,256
Common Stock	13,100	13,579	14,314	14,939	15,588	16,644	17,208	18,327	19,642	20,705	21,582
Retained Earnings	668	2,069	3,823	5,880	8,342	12,366	16,535	18,954	23,200	27,347	32,470
Treasury Stock	0.00	-995	-2,001	-5,511	-6,872	-8,507	-11,880	-16,079	-21,045	-27,085	-33,138
Accumulated Other Comprehensive Income / (Loss)	-9.00	59	-142	78	-173	-484	-136	-928	-746	-550	-658

This table presents PayPal's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	74,579	76,440	82,166	83,347	84,016	83,511	81,611	81,274	79,777	79,801	80,546
Total Current Assets	54,125	56,635	62,569	63,706	62,972	62,673	61,092	60,611	59,879	60,176	59,995
Cash & Equivalents	5,504	6,816	9,081	9,693	7,701	7,272	6,561	7,449	6,688	8,995	6,977
Short-Term Investments	4,398	4,731	4,979	4,625	5,915	4,647	4,262	3,762	3,320	1,760	2,365
Note & Lease Receivable	7,450	5,066	5,433	5,509	5,319	6,003	6,422	6,511	6,938	6,396	6,705
Accounts Receivable	34,571	35,629	40,004	39,461	39,714	40,220	38,655	40,287	40,022	39,641	40,344
Prepaid Expenses	2,202	2,228	2,509	4,418	3,954	4,060	4,651	1,888	2,094	1,980	1,779
Other Current Assets	-	2,165	563	-	369	471	541	714	817	1,404	1,825
Plant, Property, & Equipment, net	1,589	1,529	1,488	1,426	1,459	1,496	1,508	1,537	1,625	1,656	1,708
Total Noncurrent Assets	18,865	18,276	18,109	18,215	19,585	19,342	19,011	19,126	18,273	17,969	18,843
Long-Term Investments	4,543	3,855	3,273	3,409	4,653	4,282	4,583	4,613	3,645	3,601	4,125
Goodwill	11,067	10,935	11,026	10,916	10,816	10,996	10,837	10,910	10,976	10,941	10,946
Intangible Assets	640	564	537	465	403	393	326	296	271	226	206
Other Noncurrent Operating Assets	2,615	2,922	3,273	3,425	3,713	3,671	3,265	3,307	3,381	3,201	3,566
Total Liabilities & Shareholders' Equity	74,579	76,440	82,166	83,347	84,016	83,511	81,611	81,274	79,777	79,801	80,546
Total Liabilities	54,918	56,700	61,115	62,645	63,394	63,337	61,194	61,020	59,576	59,603	60,522
Total Current Liabilities	41,754	43,442	48,466	49,846	50,713	50,268	48,376	46,622	45,050	44,924	47,637
Accounts Payable	137	131	139	108	133	165	227	175	221	208	162
Accrued Expenses	3,433	3,533	6,392	8,385	8,853	8,921	8,478	5,242	3,906	4,048	5,974
Other Current Liabilities	37,393	38,641	41,935	41,353	41,727	41,182	39,671	41,205	40,923	40,668	41,501
Total Noncurrent Liabilities	13,164	13,258	12,649	12,799	12,681	13,069	12,818	14,398	14,526	14,679	12,885
Long-Term Debt	10,549	10,640	9,676	9,683	9,727	9,976	9,879	11,417	11,296	11,276	9,409
Other Noncurrent Operating Liabilities	-	-	2,973	3,116	2,954	3,093	2,939	2,981	3,230	3,403	3,476
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	19,661	19,740	21,051	20,702	20,622	20,174	20,417	20,254	20,201	20,198	20,024
Total Preferred & Common Equity	19,661	19,740	21,051	20,702	20,622	20,174	20,417	20,254	20,201	20,198	20,024
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	19,661	19,740	21,051	20,702	20,622	20,174	20,417	20,254	20,201	20,198	20,024
Common Stock	18,943	19,307	19,642	19,825	20,163	20,426	20,705	20,819	21,136	21,359	21,735
Retained Earnings	20,778	21,798	23,200	24,088	25,216	26,226	27,347	28,654	29,915	31,163	33,453
Treasury Stock	-19,064	-20,513	-21,045	-22,552	-24,064	-25,851	-27,085	-28,597	-30,111	-31,624	-34,651
Accumulated Other Comprehensive Income / (Loss)	-996	-852	-746	-659	-693	-627	-550	-622	-739	-700	-513

This table displays calculated financial ratios and metrics derived from PayPal's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.24%	17.24%	20.77%	18.00%	15.02%	20.72%	18.26%	8.46%	8.19%	6.81%	4.32%
EBITDA Growth	17.95%	12.36%	27.60%	4.89%	24.05%	59.95%	-13.06%	-15.16%	32.58%	-1.47%	19.02%
EBIT Growth	18.00%	9.61%	34.89%	8.00%	26.18%	68.95%	-19.07%	-17.88%	60.75%	-1.52%	18.07%
NOPAT Growth	186.17%	12.99%	27.39%	9.45%	17.41%	22.35%	58.86%	-36.39%	43.08%	5.03%	21.73%
Net Income Growth	193.08%	14.09%	28.12%	14.60%	19.54%	70.88%	-0.79%	-41.98%	75.53%	-2.33%	26.19%
EPS Growth	194.12%	15.00%	27.83%	16.33%	21.05%	71.01%	-0.57%	-40.63%	83.73%	3.91%	35.59%
Operating Cash Flow Growth	14.68%	24.04%	-19.85%	116.52%	-25.71%	52.76%	-6.79%	0.28%	-16.69%	53.83%	-13.88%
Free Cash Flow Firm Growth	93.44%	396.81%	-48.86%	560.59%	-67.86%	-7.56%	-41.32%	108.74%	274.19%	-50.57%	57.96%
Invested Capital Growth	24.96%	2.48%	13.91%	-21.78%	13.23%	18.86%	37.12%	9.84%	-9.53%	11.17%	4.75%
Revenue Q/Q Growth	0.00%	4.08%	6.19%	3.22%	4.31%	5.69%	3.26%	1.72%	2.21%	1.08%	0.94%
EBITDA Q/Q Growth	0.00%	3.33%	16.84%	-5.46%	4.60%	20.85%	-16.25%	7.81%	4.32%	-5.34%	3.48%
EBIT Q/Q Growth	0.00%	3.23%	21.88%	-6.97%	5.94%	24.75%	-21.95%	13.64%	14.45%	-6.71%	3.57%
NOPAT Q/Q Growth	0.00%	1.63%	14.77%	-4.97%	-1.16%	12.83%	10.50%	-2.48%	9.04%	-4.75%	3.96%
Net Income Q/Q Growth	0.00%	1.67%	14.70%	-1.72%	-3.04%	33.74%	-15.52%	5.22%	12.78%	-6.35%	6.43%
EPS Q/Q Growth	0.00%	1.77%	14.84%	-0.58%	-2.82%	33.58%	-15.38%	6.09%	14.63%	-4.77%	8.85%
Operating Cash Flow Q/Q Growth	3.96%	6.58%	-29.71%	30.41%	-8.06%	17.76%	-7.82%	6.82%	26.78%	-2.87%	-0.16%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-39.43%	6.00%	102.46%	52.68%	-81.93%	188.39%	73.83%	-50.78%	157.97%
Invested Capital Q/Q Growth	0.00%	5.58%	12.59%	10.97%	0.68%	-0.38%	34.87%	2.52%	-10.58%	6.75%	-9.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	22.66%	21.72%	22.95%	20.40%	22.00%	29.15%	21.43%	16.76%	20.54%	18.95%	21.62%
Operating Margin	15.80%	14.63%	16.24%	14.20%	15.30%	15.33%	16.80%	13.94%	16.89%	16.75%	18.28%
EBIT Margin	16.09%	15.04%	16.80%	15.38%	16.87%	23.61%	16.16%	12.23%	18.18%	16.76%	18.97%
Profit (Net Income) Margin	13.28%	12.92%	13.71%	13.31%	13.84%	19.59%	16.43%	8.79%	14.26%	13.04%	15.78%
Tax Burden Percent	82.53%	85.90%	81.59%	86.57%	82.02%	82.96%	101.71%	71.87%	78.47%	77.82%	83.17%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	17.47%	14.10%	18.41%	13.43%	17.98%	17.04%	-1.71%	28.13%	21.53%	22.18%	16.83%
Return on Invested Capital (ROIC)	16.74%	16.82%	19.79%	22.83%	28.64%	30.15%	37.19%	19.50%	27.98%	29.30%	33.32%
ROIC Less NNEP Spread (ROIC-NNEP)	16.16%	16.19%	18.89%	20.69%	25.91%	14.55%	38.99%	24.43%	23.40%	29.25%	29.68%
Return on Net Nonoperating Assets (RNNOA)	-5.58%	-6.98%	-8.10%	-9.72%	-13.42%	-7.43%	-17.24%	-7.98%	-7.43%	-9.30%	-7.59%
Return on Equity (ROE)	11.16%	9.84%	11.69%	13.11%	15.22%	22.72%	19.95%	11.52%	20.55%	20.00%	25.73%
Cash Return on Invested Capital (CROIC)	-5.45%	14.38%	6.79%	47.27%	16.23%	12.91%	5.88%	10.12%	37.99%	18.72%	28.68%
Operating Return on Assets (OROA)	5.86%	5.26%	5.96%	5.65%	6.33%	8.32%	5.61%	4.36%	6.73%	6.51%	7.92%
Return on Assets (ROA)	4.83%	4.52%	4.86%	4.89%	5.20%	6.90%	5.70%	3.13%	5.28%	5.06%	6.59%
Return on Common Equity (ROCE)	11.16%	9.84%	11.69%	13.11%	15.20%	22.66%	19.93%	11.52%	20.55%	20.00%	25.73%
Return on Equity Simple (ROE_SIMPLE)	8.93%	9.52%	11.22%	13.37%	14.56%	20.99%	19.19%	11.93%	20.17%	20.31%	0.00%
Net Operating Profit after Tax (NOPAT)	1,206	1,362	1,735	1,899	2,230	2,729	4,335	2,757	3,945	4,144	5,044
NOPAT Margin	13.04%	12.57%	13.25%	12.29%	12.55%	12.72%	17.09%	10.02%	13.25%	13.03%	15.21%
Net Nonoperating Expense Percent (NNEP)	0.59%	0.63%	0.90%	2.14%	2.73%	15.60%	-1.79%	-4.94%	4.58%	0.05%	3.63%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	8.98%	12.84%	13.68%	16.68%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	9.96%	9.48%	10.62%	11.97%	9.63%	9.65%	8.33%	7.63%	6.92%	6.75%	5.97%
R&D to Revenue	8.56%	7.69%	13.29%	11.85%	11.73%	12.31%	11.97%	11.82%	9.99%	9.37%	9.35%
Operating Expenses to Revenue	84.20%	85.37%	83.76%	85.80%	84.70%	84.67%	83.20%	86.06%	83.11%	83.25%	81.72%
Earnings before Interest and Taxes (EBIT)	1,488	1,631	2,200	2,376	2,998	5,065	4,099	3,366	5,411	5,329	6,292
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,096	2,355	3,005	3,152	3,910	6,254	5,437	4,613	6,116	6,026	7,172
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.21	3.24	5.53	6.44	7.52	13.71	10.20	4.00	3.15	4.19	2.70
Price to Tangible Book Value (P/TBV)	4.74	4.56	7.70	11.97	12.84	27.90	24.78	9.81	6.98	9.25	5.95
Price to Revenue (P/Rev)	4.78	4.39	6.76	6.41	7.15	12.79	8.73	2.95	2.22	2.69	1.65
Price to Earnings (P/E)	36.01	33.99	49.30	48.17	51.65	65.30	53.15	33.56	15.59	20.63	10.44
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.24%
Earnings Yield	2.78%	2.94%	2.03%	2.08%	1.94%	1.53%	1.88%	2.98%	6.41%	4.85%	9.58%
Enterprise Value to Invested Capital (EV/IC)	4.81	5.01	8.76	12.46	14.32	26.88	15.83	5.11	4.37	5.38	3.22
Enterprise Value to Revenue (EV/Rev)	4.16	3.79	6.25	5.89	6.66	12.32	8.41	2.75	1.97	2.52	1.50
Enterprise Value to EBITDA (EV/EBITDA)	18.35	17.46	27.23	28.87	30.28	42.25	39.23	16.42	9.57	13.28	6.95
Enterprise Value to EBIT (EV/EBIT)	25.85	25.21	37.19	38.30	39.49	52.17	52.04	22.50	10.82	15.02	7.92
Enterprise Value to NOPAT (EV/NOPAT)	31.90	30.18	47.15	47.91	53.09	96.83	49.21	27.46	14.84	19.32	9.88
Enterprise Value to Operating Cash Flow (EV/OCF)	15.11	13.02	32.33	16.61	29.08	42.49	36.80	13.03	12.09	10.74	7.77
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	35.31	137.43	23.14	93.66	226.10	311.06	52.90	10.93	30.23	11.48
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.06	0.13	0.29	0.45	0.37	0.51	0.46	0.48	0.49
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.29	0.45	0.37	0.51	0.46	0.48	0.49
Financial Leverage	-0.35	-0.43	-0.43	-0.47	-0.52	-0.51	-0.44	-0.33	-0.32	-0.32	-0.26
Leverage Ratio	2.31	2.18	2.41	2.68	2.93	3.29	3.50	3.68	3.89	3.95	3.91
Compound Leverage Factor	2.31	2.18	2.41	2.68	2.93	3.29	3.50	3.68	3.89	3.95	3.91
Debt to Total Capital	0.00%	0.00%	5.88%	11.49%	22.68%	30.82%	27.03%	33.94%	31.49%	32.61%	33.02%
Short-Term Debt to Total Capital	0.00%	0.00%	5.88%	11.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	22.68%	30.82%	27.03%	33.94%	31.49%	32.61%	33.02%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.20%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	94.12%	88.51%	77.12%	69.03%	72.97%	66.06%	68.51%	67.39%	66.98%
Debt to EBITDA	0.00	0.00	0.33	0.63	1.27	1.43	1.48	2.26	1.58	1.64	1.39
Net Debt to EBITDA	0.00	0.00	-2.22	-2.56	-2.21	-1.64	-1.52	-1.19	-1.25	-0.92	-0.66
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	1.27	1.43	1.48	2.26	1.58	1.64	1.39
Debt to NOPAT	0.00	0.00	0.58	1.05	2.23	3.28	1.86	3.78	2.45	2.38	1.98
Net Debt to NOPAT	0.00	0.00	-3.84	-4.25	-3.88	-3.75	-1.90	-1.98	-1.94	-1.33	-0.94
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	2.23	3.28	1.86	3.78	2.45	2.38	1.98
Altman Z-Score	2.57	2.45	3.06	3.05	3.25	4.27	3.43	1.85	1.83	2.10	1.99
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.14%	0.24%	0.11%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.52	1.52	1.43	1.27	1.43	1.33	1.22	1.28	1.29	1.26	1.29
Quick Ratio	1.47	1.48	1.12	1.24	1.40	1.30	1.19	1.23	1.23	1.16	1.21
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-392	1,164	595	3,933	1,264	1,169	686	1,431	5,356	2,648	4,342
Operating Cash Flow to CapEx	365.80%	472.05%	379.46%	668.29%	592.58%	833.65%	641.97%	829.24%	837.89%	1,092.38%	755.71%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.36	0.35	0.35	0.37	0.38	0.35	0.35	0.36	0.37	0.39	0.42
Accounts Receivable Turnover	0.78	0.80	0.79	0.79	0.82	0.75	0.72	0.74	0.77	0.81	0.85
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	8.16	7.67	8.70	9.50	10.40	12.26	13.66	15.12	18.50	21.23	20.68
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	469.06	454.06	461.37	459.47	445.03	484.51	510.26	491.88	473.44	451.47	427.44
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	469.06	454.06	461.37	459.47	445.03	484.51	510.26	491.88	473.44	451.47	427.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,000	8,198	9,338	7,304	8,270	9,830	13,479	14,805	13,394	14,890	15,491
Invested Capital Turnover	1.28	1.34	1.49	1.86	2.28	2.37	2.18	1.95	2.11	2.25	2.19
Increase / (Decrease) in Invested Capital	1,598	198	1,140	-2,034	966	1,560	3,649	1,326	-1,411	1,496	702
Enterprise Value (EV)	38,466	41,112	81,829	91,006	118,397	264,221	213,320	75,724	58,552	80,040	49,858
Market Capitalization	44,225	47,626	88,485	99,088	127,012	274,410	221,568	81,193	66,209	85,567	54,623
Book Value per Share	$11.26	$12.19	$13.31	$13.06	$14.38	$17.09	$18.49	$17.78	$19.53	$20.37	$21.65
Tangible Book Value per Share	$7.64	$8.65	$9.56	$7.02	$8.43	$8.39	$7.61	$7.26	$8.80	$9.23	$9.82
Total Capital	13,759	14,712	16,994	17,384	21,894	29,002	29,776	30,691	30,727	30,296	30,243
Total Debt	0.00	0.00	1,000	1,998	4,965	8,939	8,049	10,417	9,676	9,879	9,987
Total Long-Term Debt	0.00	0.00	0.00	0.00	4,965	8,939	8,049	10,417	9,676	9,879	9,987
Net Debt	-5,759	-6,514	-6,656	-8,082	-8,659	-10,233	-8,248	-5,469	-7,657	-5,527	-4,765
Capital Expenditures (CapEx)	696	669	667	820	687	746	903	701	578	682	849
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3,620	3,880	5,087	-52	815	-535	45	1,548	43	1,893	2,894
Debt-free Net Working Capital (DFNWC)	7,031	8,855	10,782	9,057	11,576	12,548	9,545	12,416	14,103	12,716	13,316
Net Working Capital (NWC)	7,031	8,855	9,782	7,059	11,576	12,548	9,545	12,416	14,103	12,716	13,316
Net Nonoperating Expense (NNE)	-22	-39	-60	-158	-229	-1,473	166	338	-301	-3.11	-189
Net Nonoperating Obligations (NNO)	-5,759	-6,514	-6,656	-8,082	-8,659	-10,233	-8,248	-5,469	-7,657	-5,527	-4,765
Total Depreciation and Amortization (D&A)	608	724	805	776	912	1,189	1,338	1,247	705	697	880
Debt-free, Cash-free Net Working Capital to Revenue	39.14%	35.79%	38.85%	-0.34%	4.59%	-2.49%	0.18%	5.63%	0.14%	5.95%	8.72%
Debt-free Net Working Capital to Revenue	76.03%	81.67%	82.34%	58.62%	65.14%	58.49%	37.62%	45.12%	47.37%	39.99%	40.14%
Net Working Capital to Revenue	76.03%	81.67%	74.71%	45.69%	65.14%	58.49%	37.62%	45.12%	47.37%	39.99%	40.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.00	$1.16	$1.49	$1.74	$2.09	$3.58	$3.55	$2.10	$3.85	$4.03	$5.46
Adjusted Weighted Average Basic Shares Outstanding	1.22B	1.21B	1.20B	1.18B	1.17B	1.17B	1.17B	1.15B	1.10B	1.03B	959M
Adjusted Diluted Earnings per Share	$1.00	$1.15	$1.47	$1.71	$2.07	$3.54	$3.52	$2.09	$3.84	$3.99	$5.41
Adjusted Weighted Average Diluted Shares Outstanding	1.23B	1.22B	1.22B	1.20B	1.19B	1.19B	1.19B	1.16B	1.11B	1.04B	968M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.22B	1.21B	1.20B	1.17B	1.17B	1.17B	1.17B	1.13B	1.07B	989.24M	920.66M
Normalized Net Operating Profit after Tax (NOPAT)	1,206	1,362	1,735	1,899	2,288	2,844	2,983	2,757	3,945	4,485	5,319
Normalized NOPAT Margin	13.04%	12.57%	13.25%	12.29%	12.88%	13.26%	11.76%	10.02%	13.25%	14.10%	16.04%
Pre Tax Income Margin	16.09%	15.04%	16.80%	15.38%	16.87%	23.61%	16.16%	12.23%	18.18%	16.76%	18.97%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.48%
Augmented Payout Ratio	0.00%	71.02%	56.04%	171.12%	57.38%	38.91%	80.91%	173.58%	117.81%	145.82%	118.13%

This table displays calculated financial ratios and metrics derived from PayPal's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	920,664,542.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	920,664,542.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.21
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.36%	8.71%	9.36%	8.21%	5.78%	4.24%	1.20%	5.11%	7.26%	3.71%	7.21%
EBITDA Growth	-26.21%	36.07%	9.73%	4.12%	4.62%	-17.40%	29.95%	13.05%	19.35%	14.93%	-10.73%
EBIT Growth	-21.36%	61.53%	12.57%	7.37%	5.64%	-21.36%	32.59%	9.29%	16.93%	15.39%	-13.10%
NOPAT Growth	1.88%	30.90%	16.01%	19.40%	11.63%	-15.21%	43.19%	16.10%	15.47%	16.49%	-3.21%
Net Income Growth	-23.31%	52.23%	11.70%	9.62%	-0.98%	-20.04%	44.93%	11.79%	23.56%	28.19%	-13.52%
EPS Growth	-19.13%	61.25%	18.57%	17.39%	6.45%	-15.50%	55.42%	19.44%	31.31%	40.37%	-6.20%
Operating Cash Flow Growth	-28.26%	64.30%	63.85%	862.50%	28.20%	-8.42%	-39.49%	-41.11%	22.30%	-0.42%	-2.24%
Free Cash Flow Firm Growth	112.07%	1,040.10%	647.98%	1,087.70%	396.60%	-112.68%	-160.38%	-195.17%	-191.95%	353.67%	154.57%
Invested Capital Growth	3.72%	-9.53%	-15.88%	-23.37%	-6.87%	11.17%	25.19%	47.72%	22.72%	4.75%	0.75%
Revenue Q/Q Growth	1.80%	8.20%	-4.07%	2.42%	-0.48%	6.61%	-6.87%	6.38%	1.56%	3.08%	-3.72%
EBITDA Q/Q Growth	-4.80%	38.78%	-31.96%	10.08%	-4.35%	9.57%	12.64%	-4.24%	0.98%	5.52%	-12.51%
EBIT Q/Q Growth	-4.76%	44.48%	-32.57%	15.72%	-6.29%	7.55%	13.69%	-4.62%	0.26%	6.13%	-14.38%
NOPAT Q/Q Growth	7.29%	40.75%	-36.51%	24.53%	0.31%	6.91%	7.22%	0.98%	-0.24%	7.85%	-10.91%
Net Income Q/Q Growth	-0.87%	37.45%	-36.66%	27.03%	-10.46%	10.99%	14.81%	-2.02%	-1.03%	15.14%	-22.55%
EPS Q/Q Growth	1.09%	38.71%	-35.66%	30.12%	-8.33%	10.10%	18.35%	0.00%	0.78%	17.69%	-20.92%
Operating Cash Flow Q/Q Growth	729.50%	107.63%	-26.66%	-20.45%	5.84%	48.33%	-51.55%	-22.59%	119.82%	20.77%	-52.43%
Free Cash Flow Firm Q/Q Growth	187.90%	553.00%	17.55%	46.40%	-55.81%	-116.68%	-459.61%	-130.73%	57.30%	132.75%	69.14%
Invested Capital Q/Q Growth	-4.99%	-10.58%	-5.50%	-4.57%	15.47%	6.75%	6.43%	12.60%	-4.07%	-9.50%	3.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	18.98%	24.35%	18.17%	19.53%	18.77%	19.29%	23.33%	21.01%	20.89%	21.38%	19.43%
Operating Margin	15.75%	21.53%	15.17%	16.80%	17.73%	17.22%	19.64%	18.15%	18.06%	17.42%	17.81%
EBIT Margin	16.73%	22.34%	15.70%	17.74%	16.71%	16.85%	20.58%	18.45%	18.21%	18.75%	16.68%
Profit (Net Income) Margin	13.75%	17.47%	11.53%	14.31%	12.87%	13.40%	16.52%	15.21%	14.83%	16.56%	13.32%
Tax Burden Percent	82.19%	78.19%	73.45%	80.63%	77.04%	79.50%	80.29%	82.47%	81.41%	88.32%	79.90%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	17.81%	21.81%	26.55%	19.37%	22.96%	20.50%	19.71%	17.53%	18.59%	11.68%	20.10%
Return on Invested Capital (ROIC)	25.63%	35.55%	24.48%	30.20%	29.70%	30.79%	35.28%	32.30%	31.10%	33.70%	30.19%
ROIC Less NNEP Spread (ROIC-NNEP)	24.49%	34.77%	24.01%	29.24%	30.82%	31.16%	34.34%	31.92%	30.87%	31.73%	31.98%
Return on Net Nonoperating Assets (RNNOA)	-6.48%	-11.04%	-7.61%	-9.03%	-8.48%	-9.91%	-10.44%	-8.52%	-7.12%	-8.11%	-6.72%
Return on Equity (ROE)	19.15%	24.50%	16.87%	21.17%	21.22%	20.88%	24.84%	23.78%	23.99%	25.59%	23.46%
Cash Return on Invested Capital (CROIC)	20.95%	37.99%	46.60%	56.92%	37.19%	18.72%	9.32%	-7.18%	10.84%	28.68%	30.75%
Operating Return on Assets (OROA)	6.38%	8.27%	5.95%	6.94%	6.57%	6.54%	7.97%	7.27%	7.33%	7.83%	6.95%
Return on Assets (ROA)	5.24%	6.47%	4.37%	5.60%	5.06%	5.20%	6.40%	6.00%	5.97%	6.92%	5.56%
Return on Common Equity (ROCE)	19.15%	24.50%	16.87%	21.17%	21.22%	20.88%	24.84%	23.78%	23.99%	25.59%	23.46%
Return on Equity Simple (ROE_SIMPLE)	19.07%	0.00%	20.96%	21.52%	21.95%	0.00%	22.44%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	960	1,351	858	1,068	1,072	1,146	1,228	1,240	1,237	1,335	1,189
NOPAT Margin	12.94%	16.84%	11.14%	13.55%	13.66%	13.69%	15.77%	14.97%	14.70%	15.38%	14.23%
Net Nonoperating Expense Percent (NNEP)	1.13%	0.77%	0.47%	0.96%	-1.12%	-0.37%	0.94%	0.38%	0.23%	1.97%	-1.79%
Return On Investment Capital (ROIC_SIMPLE)	-	4.40%	-	-	-	3.78%	3.88%	3.94%	3.93%	4.41%	4.04%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	6.83%	6.90%	6.03%	7.23%	6.61%	7.10%	6.46%	5.56%	6.09%	5.79%	5.88%
R&D to Revenue	9.96%	9.59%	9.64%	9.11%	9.51%	9.24%	9.38%	9.25%	9.52%	9.27%	9.49%
Operating Expenses to Revenue	84.25%	78.47%	84.83%	83.20%	82.27%	82.78%	80.36%	81.85%	81.94%	82.58%	82.19%
Earnings before Interest and Taxes (EBIT)	1,241	1,793	1,209	1,399	1,311	1,410	1,603	1,529	1,533	1,627	1,393
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,408	1,954	1,399	1,540	1,473	1,614	1,818	1,741	1,758	1,855	1,623
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.25	3.15	3.49	2.94	3.95	4.19	3.19	3.58	3.17	2.70	2.08
Price to Tangible Book Value (P/TBV)	7.79	6.98	7.75	6.46	9.08	9.25	7.13	8.07	7.09	5.95	4.69
Price to Revenue (P/Rev)	2.20	2.22	2.37	1.96	2.54	2.69	2.02	2.24	1.95	1.65	1.23
Price to Earnings (P/E)	17.05	15.59	16.65	13.68	18.02	20.63	14.20	15.45	13.03	10.44	8.23
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.24%	0.62%
Earnings Yield	5.87%	6.41%	6.01%	7.31%	5.55%	4.85%	7.04%	6.47%	7.67%	9.58%	12.15%
Enterprise Value to Invested Capital (EV/IC)	3.97	4.37	5.07	4.32	5.27	5.38	3.80	3.92	3.56	3.22	2.35
Enterprise Value to Revenue (EV/Rev)	2.04	1.97	2.11	1.68	2.34	2.52	1.89	2.17	1.86	1.50	1.11
Enterprise Value to EBITDA (EV/EBITDA)	10.14	9.57	10.29	8.28	11.55	13.28	9.33	10.52	8.80	6.95	5.39
Enterprise Value to EBIT (EV/EBIT)	12.57	10.82	11.57	9.25	12.88	15.02	10.51	11.95	10.04	7.92	6.18
Enterprise Value to NOPAT (EV/NOPAT)	16.42	14.84	15.78	12.30	16.91	19.32	13.31	14.91	12.57	9.88	7.50
Enterprise Value to Operating Cash Flow (EV/OCF)	15.56	12.09	11.48	7.13	9.59	10.74	8.99	11.53	9.49	7.77	5.88
Enterprise Value to Free Cash Flow (EV/FCFF)	19.29	10.93	9.94	6.58	13.67	30.23	45.27	0.00	36.23	11.48	7.68
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.54	0.46	0.47	0.47	0.49	0.48	0.56	0.56	0.56	0.49	0.47
Long-Term Debt to Equity	0.54	0.46	0.47	0.47	0.49	0.48	0.56	0.56	0.56	0.49	0.47
Financial Leverage	-0.26	-0.32	-0.32	-0.31	-0.28	-0.32	-0.30	-0.27	-0.23	-0.26	-0.21
Leverage Ratio	3.82	3.89	3.96	3.94	4.01	3.95	4.02	4.01	4.05	3.91	4.02
Compound Leverage Factor	3.82	3.89	3.96	3.94	4.01	3.95	4.02	4.01	4.05	3.91	4.02
Debt to Total Capital	35.02%	31.49%	31.87%	32.05%	33.09%	32.61%	36.05%	35.86%	35.83%	33.02%	31.97%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	35.02%	31.49%	31.87%	32.05%	33.09%	32.61%	36.05%	35.86%	35.83%	33.02%	31.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	64.98%	68.51%	68.13%	67.95%	66.91%	67.39%	63.95%	64.14%	64.17%	66.98%	68.03%
Debt to EBITDA	1.81	1.58	1.55	1.54	1.57	1.64	1.77	1.70	1.63	1.39	1.35
Net Debt to EBITDA	-0.81	-1.25	-1.29	-1.36	-0.98	-0.92	-0.68	-0.35	-0.44	-0.66	-0.58
Long-Term Debt to EBITDA	1.81	1.58	1.55	1.54	1.57	1.64	1.77	1.70	1.63	1.39	1.35
Debt to NOPAT	2.94	2.45	2.38	2.29	2.29	2.38	2.53	2.41	2.32	1.98	1.88
Net Debt to NOPAT	-1.32	-1.94	-1.98	-2.02	-1.43	-1.33	-0.98	-0.50	-0.63	-0.94	-0.81
Long-Term Debt to NOPAT	2.94	2.45	2.38	2.29	2.29	2.38	2.53	2.41	2.32	1.98	1.88
Altman Z-Score	1.72	1.69	1.71	1.59	1.80	1.94	1.79	1.94	1.90	1.79	1.65
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.30	1.29	1.28	1.24	1.25	1.26	1.30	1.33	1.34	1.29	1.26
Quick Ratio	1.20	1.23	1.19	1.16	1.16	1.16	1.24	1.26	1.26	1.21	1.18
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	423	2,762	3,247	4,753	2,101	-350	-1,961	-4,524	-1,932	633	1,070
Operating Cash Flow to CapEx	817.53%	1,815.28%	1,244.81%	971.34%	955.03%	1,185.15%	597.94%	438.05%	771.09%	1,228.87%	508.52%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.38	0.37	0.38	0.39	0.39	0.39	0.39	0.39	0.40	0.42	0.42
Accounts Receivable Turnover	0.82	0.77	0.80	0.84	0.83	0.81	0.80	0.81	0.82	0.85	0.84
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	17.64	18.50	19.90	20.36	20.80	21.23	21.52	20.94	20.85	20.68	20.79
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	446.99	473.44	454.03	436.93	440.04	451.47	456.40	450.63	443.51	427.44	436.21
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	446.99	473.44	454.03	436.93	440.04	451.47	456.40	450.63	443.51	427.44	436.21
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	14,978	13,394	12,658	12,080	13,949	14,890	15,847	17,844	17,118	15,491	15,966
Invested Capital Turnover	1.98	2.11	2.20	2.23	2.17	2.25	2.24	2.16	2.12	2.19	2.12
Increase / (Decrease) in Invested Capital	537	-1,411	-2,389	-3,685	-1,029	1,496	3,189	5,764	3,169	702	119
Enterprise Value (EV)	59,429	58,552	64,181	52,160	73,548	80,040	60,141	69,922	60,988	49,858	37,584
Market Capitalization	64,191	66,209	72,225	60,702	79,773	85,567	64,548	72,279	64,068	54,623	41,642
Book Value per Share	$17.98	$19.53	$19.46	$19.71	$19.73	$20.37	$20.47	$20.77	$21.14	$21.65	$21.75
Tangible Book Value per Share	$7.51	$8.80	$8.76	$8.99	$8.59	$9.23	$9.15	$9.21	$9.45	$9.82	$9.64
Total Capital	30,380	30,727	30,385	30,349	30,150	30,296	31,671	31,497	31,474	30,243	29,433
Total Debt	10,640	9,676	9,683	9,727	9,976	9,879	11,417	11,296	11,276	9,987	9,409
Total Long-Term Debt	10,640	9,676	9,683	9,727	9,976	9,879	11,417	11,296	11,276	9,987	9,409
Net Debt	-4,762	-7,657	-8,044	-8,542	-6,225	-5,527	-4,407	-2,357	-3,080	-4,765	-4,058
Capital Expenditures (CapEx)	154	144	154	157	169	202	194	205	256	194	223
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,646	43	-458	-1,357	486	1,893	2,778	4,821	4,497	2,894	3,016
Debt-free Net Working Capital (DFNWC)	13,193	14,103	13,860	12,259	12,405	12,716	13,989	14,829	15,252	13,316	12,358
Net Working Capital (NWC)	13,193	14,103	13,860	12,259	12,405	12,716	13,989	14,829	15,252	13,316	12,358
Net Nonoperating Expense (NNE)	-60	-51	-30	-60	62	25	-59	-21	-11	-102	76
Net Nonoperating Obligations (NNO)	-4,762	-7,657	-8,044	-8,542	-6,225	-5,527	-4,407	-2,357	-3,080	-4,765	-4,058
Total Depreciation and Amortization (D&A)	167	161	190	141	162	204	215	212	225	228	230
Debt-free, Cash-free Net Working Capital to Revenue	5.65%	0.14%	-1.51%	-4.37%	1.55%	5.95%	8.71%	14.93%	13.68%	8.72%	8.94%
Debt-free Net Working Capital to Revenue	45.29%	47.37%	45.55%	39.51%	39.43%	39.99%	43.87%	45.92%	46.41%	40.14%	36.63%
Net Working Capital to Revenue	45.29%	47.37%	45.55%	39.51%	39.43%	39.99%	43.87%	45.92%	46.41%	40.14%	36.63%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.93	$1.29	$0.83	$1.08	$1.00	$1.12	$1.31	$1.30	$1.31	$1.54	$1.22
Adjusted Weighted Average Basic Shares Outstanding	1.09B	1.10B	1.06B	1.04B	1.02B	1.03B	986M	969M	950M	959M	913M
Adjusted Diluted Earnings per Share	$0.93	$1.29	$0.83	$1.08	$0.99	$1.09	$1.29	$1.29	$1.30	$1.53	$1.21
Adjusted Weighted Average Diluted Shares Outstanding	1.10B	1.11B	1.07B	1.05B	1.02B	1.04B	999M	977M	960M	968M	920M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.08B	1.07B	1.05B	1.02B	1.00B	989.24M	972.53M	955.38M	935.65M	920.66M	882.11M
Normalized Net Operating Profit after Tax (NOPAT)	960	1,351	1,014	1,159	1,072	1,146	1,281	1,336	1,294	1,405	1,248
Normalized NOPAT Margin	12.94%	16.84%	13.17%	14.70%	13.66%	13.69%	16.45%	16.12%	15.37%	16.20%	14.94%
Pre Tax Income Margin	16.73%	22.34%	15.70%	17.74%	16.71%	16.85%	20.58%	18.45%	18.21%	18.75%	16.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.48%	5.14%
Augmented Payout Ratio	143.56%	117.81%	116.87%	113.63%	121.61%	145.82%	133.00%	130.28%	118.36%	118.13%	124.77%

Financials Breakdown Chart

Key Financial Trends

PayPal Holdings, Inc. (NASDAQ: PYPL) has shown a multi-year upward trend in revenue and profitability alongside solid cash generation. Below are the 4-year trends pulled from quarterly statements (2022–2025) with a focus on the last four years of data you provided. Bullets are sorted with positives first, then neutral points, then negatives.

Revenue has trended upward over the period, rising from about $7.38B in 2022 Q4 to about $8.68B in 2025 Q4.
Net income from continuing operations increased from roughly $0.92B in 2022 Q4 to about $1.44B in 2025 Q4, reflecting improved profitability.
Earnings per share improved, with 2025 Q4 basic EPS at about $1.54, marking a notable rise versus prior years.
Operating cash flow remained strong and relatively steady, with net cash from continuing operating activities around $2.2B–$2.4B per quarter (e.g., $2.394B in 2024 Q4 and $2.384B in 2025 Q4).
Capital returns remained active, including about $1.50B in repurchases of common equity in 2025 Q4, signaling ongoing capital-allocation support for shareholders.
Liquidity remained solid, with cash and equivalents generally in the mid-to-upper billions (e.g., around $7–9B across 2024–2025 periods), supporting liquidity needs.
Accounts receivable stayed high (around $39–40B in 2025 periods), indicating a substantial working-capital footprint but not necessarily signaling immediate distress based on the reported cash flows.
Total liabilities remained large relative to equity (roughly $59B in mid-2025 vs. ~$20B in equity), implying a higher-leverage balance sheet profile than typical if viewed in isolation.
Other operating expenses spiked in some quarters (for example about $5.09B in 2025 Q4), which weighed on operating income in those periods.
Net financing cash flows were consistently negative in several quarters, reflecting ongoing financing activity and capital-return efforts that reduce cash from financing activities.

05/23/26 08:04 PM ETAI Generated. May Contain Errors.

PayPal Financials - Frequently Asked Questions

According to the most recent income statement we have on file, PayPal's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

PayPal's net income appears to be on an upward trend, with a most recent value of $5.23 billion in 2025, rising from $1.23 billion in 2015. The previous period was $4.15 billion in 2024. View PayPal's forecast to see where analysts expect PayPal to go next.

PayPal's total operating income in 2025 was $6.07 billion, based on the following breakdown:

Total Gross Profit: $33.17 billion
Total Operating Expenses: $27.11 billion

Over the last 10 years, PayPal's total revenue changed from $9.25 billion in 2015 to $33.17 billion in 2025, a change of 258.7%.

PayPal's total liabilities were at $59.92 billion at the end of 2025, a 2.8% increase from 2024, and a 296.2% increase since 2015.

In the past 10 years, PayPal's cash and equivalents has ranged from $1.39 billion in 2015 to $9.08 billion in 2023, and is currently $8.05 billion as of their latest financial filing in 2025.

Over the last 10 years, PayPal's book value per share changed from 11.26 in 2015 to 21.65 in 2025, a change of 92.2%.

Related Companies

Financial statements for NASDAQ:PYPL last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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PayPal (PYPL) Financials

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PayPal (PYPL) Financials

Annual Income Statements for PayPal

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Quarterly Cash Flow Statements for PayPal

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Financials Breakdown Chart

Key Financial Trends

PayPal Financials - Frequently Asked Questions

When does PayPal's fiscal year end?

How has PayPal's net income changed over the last 10 years?

What is PayPal's operating income?

How has PayPal's revenue changed over the last 10 years?

How much debt does PayPal have?

How much cash does PayPal have?

How has PayPal's book value per share changed over the last 10 years?

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