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PayPal (PYPL) Financials

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$57.21 -0.44 (-0.76%)
Closing price 07/31/2026 04:00 PM Eastern
Extended Trading
$57.16 -0.05 (-0.08%)
As of 07/31/2026 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for PayPal

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

Quarterly Income Statements for PayPal

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 1,402 888 1,128 1,010 1,121 1,287 1,261 1,248 1,437 1,113 1,104
Consolidated Net Income / (Loss)		 1,402 888 1,128 1,010 1,121 1,287 1,261 1,248 1,437 1,113 1,104
Net Income / (Loss) Continuing Operations		 1,402 888 1,128 1,010 1,121 1,287 1,261 1,248 1,437 1,113 1,104
Total Pre-Tax Income 		1,793 1,209 1,399 1,311 1,410 1,603 1,529 1,533 1,627 1,393 1,310
Total Operating Income		 1,728 1,168 1,325 1,391 1,441 1,530 1,504 1,520 1,511 1,488 1,427
Total Gross Profit		 8,026 7,699 7,885 7,847 8,366 7,791 8,288 8,417 8,676 8,353 8,682
Total Revenue		 8,026 7,699 7,885 7,847 8,366 7,791 8,288 8,417 8,676 8,353 8,682
Operating Revenue		 8,026 7,699 7,885 7,847 8,366 7,791 8,288 8,417 8,676 8,353 8,682
Total Cost of Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Operating Expenses		 6,298 6,531 6,560 6,456 6,925 6,261 6,784 6,897 7,165 6,865 7,255
Selling, General & Admin Expense		 554 464 570 519 594 503 461 513 502 491 503
Marketing Expense		 466 421 446 508 626 488 583 521 691 518 546
Research & Development Expense		 770 742 718 746 773 731 767 801 804 793 849
Other Operating Expenses / (Income)		 4,819 4,692 4,713 4,620 4,882 4,473 4,857 4,993 5,088 4,989 5,244
Restructuring Charge		 - 212 113 63 - 66 116 69 80 74 113
Total Other Income / (Expense), net		 65 41 74 -80 -31 73 25 13 116 -95 -117
Other Income / (Expense), net		 65 41 74 -80 -31 73 25 13 116 -95 -117
Income Tax Expense		 391 321 271 301 289 316 268 285 190 280 206
Basic Earnings per Share		 $1.29 $0.83 $1.08 $1.00 $1.12 $1.31 $1.30 $1.31 $1.54 $1.22 $1.26
Weighted Average Basic Shares Outstanding		 1.10B 1.06B 1.04B 1.02B 1.03B 986M 969M 950M 959M 913M 877M
Diluted Earnings per Share		 $1.29 $0.83 $1.08 $0.99 $1.09 $1.29 $1.29 $1.30 $1.53 $1.21 $1.25
Weighted Average Diluted Shares Outstanding		 1.11B 1.07B 1.05B 1.02B 1.04B 999M 977M 960M 968M 920M 882M
Weighted Average Basic & Diluted Shares Outstanding		 1.07B 1.05B 1.02B 1.00B 989.24M 972.53M 955.38M 935.65M 920.66M 882.11M 855.46M

Annual Cash Flow Statements for PayPal

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

Quarterly Cash Flow Statements for PayPal

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 5,251 441 -2,828 1,987 956 -1,389 -2,101 4,873 165 -1,575 -470
Net Cash From Operating Activities		 2,614 1,917 1,525 1,614 2,394 1,160 898 1,974 2,384 1,134 1,983
Net Cash From Continuing Operating Activities		 2,614 1,917 1,525 1,614 2,394 1,160 898 1,974 2,384 1,134 1,983
Net Income / (Loss) Continuing Operations		 1,402 888 1,128 1,010 1,121 1,287 1,261 1,248 1,437 1,113 1,104
Consolidated Net Income / (Loss)		 1,402 888 1,128 1,010 1,121 1,287 1,261 1,248 1,437 1,113 1,104
Depreciation Expense		 263 265 263 255 249 245 239 245 234 238 246
Amortization Expense		 -102 -75 -122 -93 -45 -30 -27 -20 -6.00 -8.00 -11
Non-Cash Adjustments To Reconcile Net Income		 500 672 871 615 -319 29 492 218 -1,218 323 358
Changes in Operating Assets and Liabilities, net		 551 167 -615 -173 1,388 -371 -1,067 283 1,937 -532 286
Net Cash From Investing Activities		 -534 980 -4,647 2,799 2,457 -3,637 -20 4,772 -298 -2,100 -2,885
Net Cash From Continuing Investing Activities		 -534 980 -4,647 2,799 2,457 -3,637 -20 4,772 -298 -2,100 -2,885
Purchase of Property, Plant & Equipment		 -145 -154 -157 -169 -203 -196 -206 -256 -194 -231 -208
Purchase of Investments		 -7,005 -7,081 -8,997 -4,815 -5,390 -5,970 -5,594 -4,387 -4,448 -5,923 -7,060
Sale of Property, Plant & Equipment		 1.00 0.00 - - 1.00 2.00 1.00 - - 8.00 11
Sale and/or Maturity of Investments		 13,526 14,069 172 21,869 11,461 11,029 12,064 12,167 7,649 8,275 8,979
Other Investing Activities, net		 -7,377 -5,854 4,335 -14,086 -3,412 -8,502 -6,285 -2,752 -3,305 -4,107 -4,607
Net Cash From Financing Activities		 3,000 -2,362 200 -2,529 -3,585 994 -3,174 -1,829 -1,949 -559 403
Net Cash From Continuing Financing Activities		 3,000 -2,362 200 -2,529 -3,585 994 -3,174 -1,829 -1,949 -559 403
Repayment of Debt		 -111 -359 -72 -40 -1,250 -2.00 -1,211 -747 -201 -934 -748
Repurchase of Common Equity		 -607 -1,501 -1,501 -1,776 -1,269 -1,500 -1,551 -1,500 -1,501 -1,500 -1,552
Payment of Dividends		 - - - - - 0.00 - - - -130 -122
Issuance of Debt		 699 115 1,299 132 - 1,491 - 746 400 930 2,584
Other Financing Activities, net		 2,974 -617 419 -845 -1,106 1,005 -486 -328 -560 1,075 181
Other Net Changes in Cash		 - -94 - - - 94 195 -44 28 -50 29
Cash Interest Paid		 164 2.00 164 2.00 198 2.00 189 19 196 18 194
Cash Income Taxes Paid		 1,060 83 739 153 52 95 742 196 66 7.00 218

Annual Balance Sheets for PayPal

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
Short-Term Debt		 - 0.00 1,000 1,998 - - - - - - 1,596
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 4,409
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

Quarterly Balance Sheets for PayPal

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 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 3/31/2026 6/30/2026
Total Assets		 76,440 82,166 83,347 84,016 83,511 81,611 81,274 79,777 79,801 80,546 82,737
Total Current Assets		 56,635 62,569 63,706 62,972 62,673 61,092 60,611 59,879 60,176 59,995 62,346
Cash & Equivalents		 6,816 9,081 9,693 7,701 7,272 6,561 7,449 6,688 8,995 6,977 8,306
Short-Term Investments		 4,731 4,979 4,625 5,915 4,647 4,262 3,762 3,320 1,760 2,365 2,950
Note & Lease Receivable		 5,066 5,433 5,509 5,319 6,003 6,422 6,511 6,938 6,396 6,705 6,847
Accounts Receivable		 35,629 40,004 39,461 39,714 40,220 38,655 40,287 40,022 39,641 40,344 40,506
Prepaid Expenses		 2,228 2,509 4,418 3,954 4,060 4,651 1,888 2,094 1,980 1,779 1,823
Other Current Assets		 2,165 563 - 369 471 541 714 817 1,404 1,825 1,914
Plant, Property, & Equipment, net		 1,529 1,488 1,426 1,459 1,496 1,508 1,537 1,625 1,656 1,708 1,731
Total Noncurrent Assets		 18,276 18,109 18,215 19,585 19,342 19,011 19,126 18,273 17,969 18,843 18,660
Long-Term Investments		 3,855 3,273 3,409 4,653 4,282 4,583 4,613 3,645 3,601 4,125 4,009
Goodwill		 10,935 11,026 10,916 10,816 10,996 10,837 10,910 10,976 10,941 10,946 10,929
Intangible Assets		 564 537 465 403 393 326 296 271 226 206 178
Other Noncurrent Operating Assets		 2,922 3,273 3,425 3,713 3,671 3,265 3,307 3,381 3,201 3,566 3,544
Total Liabilities & Shareholders' Equity		 76,440 82,166 83,347 84,016 83,511 81,611 81,274 79,777 79,801 80,546 82,737
Total Liabilities		 56,700 61,115 62,645 63,394 63,337 61,194 61,020 59,576 59,603 60,522 62,917
Total Current Liabilities		 43,442 48,466 49,846 50,713 50,268 48,376 46,622 45,050 44,924 47,637 48,406
Short-Term Debt		 - - - - - - - - - - 2,505
Accounts Payable		 131 139 108 133 165 227 175 221 208 162 208
Accrued Expenses		 3,533 6,392 8,385 8,853 8,921 8,478 5,242 3,906 4,048 5,974 3,950
Other Current Liabilities		 38,641 41,935 41,353 41,727 41,182 39,671 41,205 40,923 40,668 41,501 41,743
Total Noncurrent Liabilities		 13,258 12,649 12,799 12,681 13,069 12,818 14,398 14,526 14,679 12,885 14,511
Long-Term Debt		 10,640 9,676 9,683 9,727 9,976 9,879 11,417 11,296 11,276 9,409 10,895
Other Noncurrent Operating Liabilities		 - 2,973 3,116 2,954 3,093 2,939 2,981 3,230 3,403 3,476 3,616
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		 19,740 21,051 20,702 20,622 20,174 20,417 20,254 20,201 20,198 20,024 19,820
Total Preferred & Common Equity		 19,740 21,051 20,702 20,622 20,174 20,417 20,254 20,201 20,198 20,024 19,820
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		 19,740 21,051 20,702 20,622 20,174 20,417 20,254 20,201 20,198 20,024 19,820
Common Stock		 19,307 19,642 19,825 20,163 20,426 20,705 20,819 21,136 21,359 21,735 22,056
Retained Earnings		 21,798 23,200 24,088 25,216 26,226 27,347 28,654 29,915 31,163 33,453 34,432
Treasury Stock		 -20,513 -21,045 -22,552 -24,064 -25,851 -27,085 -28,597 -30,111 -31,624 -34,651 -36,165
Accumulated Other Comprehensive Income / (Loss)		 -852 -746 -659 -693 -627 -550 -622 -739 -700 -513 -503

Annual Metrics And Ratios for PayPal

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%

Quarterly Metrics And Ratios for PayPal

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 920,664,542.00 882,105,493.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 920,664,542.00 882,105,493.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 1.21 1.25
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.71% 9.36% 8.21% 5.78% 4.24% 1.20% 5.11% 7.26% 3.71% 7.21% 4.75%
EBITDA Growth		 36.07% 9.73% 4.12% 4.62% -17.40% 29.95% 13.05% 19.35% 14.93% -10.73% -11.26%
EBIT Growth		 61.53% 12.57% 7.37% 5.64% -21.36% 32.59% 9.29% 16.93% 15.39% -13.10% -14.32%
NOPAT Growth		 30.90% 16.01% 19.40% 11.63% -15.21% 43.19% 16.10% 15.47% 16.49% -3.21% -3.05%
Net Income Growth		 52.23% 11.70% 9.62% -0.98% -20.04% 44.93% 11.79% 23.56% 28.19% -13.52% -12.45%
EPS Growth		 61.25% 18.57% 17.39% 6.45% -15.50% 55.42% 19.44% 31.31% 40.37% -6.20% -3.10%
Operating Cash Flow Growth		 64.30% 63.85% 862.50% 28.20% -8.42% -39.49% -41.11% 22.30% -0.42% -2.24% 120.82%
Free Cash Flow Firm Growth		 1,040.10% 647.98% 1,087.70% 396.60% -112.68% -160.38% -195.17% -191.95% 353.67% 154.57% 124.13%
Invested Capital Growth		 -9.53% -15.88% -23.37% -6.87% 11.17% 25.19% 47.72% 22.72% 4.75% 0.75% 0.62%
Revenue Q/Q Growth		 8.20% -4.07% 2.42% -0.48% 6.61% -6.87% 6.38% 1.56% 3.08% -3.72% 3.94%
EBITDA Q/Q Growth		 38.78% -31.96% 10.08% -4.35% 9.57% 12.64% -4.24% 0.98% 5.52% -12.51% -4.81%
EBIT Q/Q Growth		 44.48% -32.57% 15.72% -6.29% 7.55% 13.69% -4.62% 0.26% 6.13% -14.38% -5.96%
NOPAT Q/Q Growth		 40.75% -36.51% 24.53% 0.31% 6.91% 7.22% 0.98% -0.24% 7.85% -10.91% 1.15%
Net Income Q/Q Growth		 37.45% -36.66% 27.03% -10.46% 10.99% 14.81% -2.02% -1.03% 15.14% -22.55% -0.81%
EPS Q/Q Growth		 38.71% -35.66% 30.12% -8.33% 10.10% 18.35% 0.00% 0.78% 17.69% -20.92% 3.31%
Operating Cash Flow Q/Q Growth		 107.63% -26.66% -20.45% 5.84% 48.33% -51.55% -22.59% 119.82% 20.77% -52.43% 74.87%
Free Cash Flow Firm Q/Q Growth		 553.00% 17.55% 46.40% -55.81% -116.68% -459.61% -130.73% 57.30% 132.75% 69.14% 2.03%
Invested Capital Q/Q Growth		 -10.58% -5.50% -4.57% 15.47% 6.75% 6.43% 12.60% -4.07% -9.50% 3.07% 12.46%
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		 24.35% 18.17% 19.53% 18.77% 19.29% 23.33% 21.01% 20.89% 21.38% 19.43% 17.80%
Operating Margin		 21.53% 15.17% 16.80% 17.73% 17.22% 19.64% 18.15% 18.06% 17.42% 17.81% 16.44%
EBIT Margin		 22.34% 15.70% 17.74% 16.71% 16.85% 20.58% 18.45% 18.21% 18.75% 16.68% 15.09%
Profit (Net Income) Margin		 17.47% 11.53% 14.31% 12.87% 13.40% 16.52% 15.21% 14.83% 16.56% 13.32% 12.72%
Tax Burden Percent		 78.19% 73.45% 80.63% 77.04% 79.50% 80.29% 82.47% 81.41% 88.32% 79.90% 84.27%
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		 21.81% 26.55% 19.37% 22.96% 20.50% 19.71% 17.53% 18.59% 11.68% 20.10% 15.73%
Return on Invested Capital (ROIC)		 35.55% 24.48% 30.20% 29.70% 30.79% 35.28% 32.30% 31.10% 33.70% 30.19% 26.41%
ROIC Less NNEP Spread (ROIC-NNEP)		 34.77% 24.01% 29.24% 30.82% 31.16% 34.34% 31.92% 30.87% 31.73% 31.98% 31.08%
Return on Net Nonoperating Assets (RNNOA)		 -11.04% -7.61% -9.03% -8.48% -9.91% -10.44% -8.52% -7.12% -8.11% -6.72% -3.28%
Return on Equity (ROE)		 24.50% 16.87% 21.17% 21.22% 20.88% 24.84% 23.78% 23.99% 25.59% 23.46% 23.13%
Cash Return on Invested Capital (CROIC)		 37.99% 46.60% 56.92% 37.19% 18.72% 9.32% -7.18% 10.84% 28.68% 30.75% 27.15%
Operating Return on Assets (OROA)		 8.27% 5.95% 6.94% 6.57% 6.54% 7.97% 7.27% 7.33% 7.83% 6.95% 6.34%
Return on Assets (ROA)		 6.47% 4.37% 5.60% 5.06% 5.20% 6.40% 6.00% 5.97% 6.92% 5.56% 5.34%
Return on Common Equity (ROCE)		 24.50% 16.87% 21.17% 21.22% 20.88% 24.84% 23.78% 23.99% 25.59% 23.46% 23.13%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 20.96% 21.52% 21.95% 0.00% 22.44% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,351 858 1,068 1,072 1,146 1,228 1,240 1,237 1,335 1,189 1,203
NOPAT Margin		 16.84% 11.14% 13.55% 13.66% 13.69% 15.77% 14.97% 14.70% 15.38% 14.23% 13.85%
Net Nonoperating Expense Percent (NNEP)		 0.77% 0.47% 0.96% -1.12% -0.37% 0.94% 0.38% 0.23% 1.97% -1.79% -4.67%
Return On Investment Capital (ROIC_SIMPLE)		 4.40% - - - 3.78% 3.88% 3.94% 3.93% 4.41% 4.04% 3.62%
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		 6.90% 6.03% 7.23% 6.61% 7.10% 6.46% 5.56% 6.09% 5.79% 5.88% 5.79%
R&D to Revenue		 9.59% 9.64% 9.11% 9.51% 9.24% 9.38% 9.25% 9.52% 9.27% 9.49% 9.78%
Operating Expenses to Revenue		 78.47% 84.83% 83.20% 82.27% 82.78% 80.36% 81.85% 81.94% 82.58% 82.19% 83.56%
Earnings before Interest and Taxes (EBIT)		 1,793 1,209 1,399 1,311 1,410 1,603 1,529 1,533 1,627 1,393 1,310
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,954 1,399 1,540 1,473 1,614 1,818 1,741 1,758 1,855 1,623 1,545
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.15 3.49 2.94 3.95 4.19 3.19 3.58 3.17 2.70 2.08 1.92
Price to Tangible Book Value (P/TBV)		 6.98 7.75 6.46 9.08 9.25 7.13 8.07 7.09 5.95 4.69 4.37
Price to Revenue (P/Rev)		 2.22 2.37 1.96 2.54 2.69 2.02 2.24 1.95 1.65 1.23 1.12
Price to Earnings (P/E)		 15.59 16.65 13.68 18.02 20.63 14.20 15.45 13.03 10.44 8.23 7.77
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.24% 0.62% 0.97%
Earnings Yield		 6.41% 6.01% 7.31% 5.55% 4.85% 7.04% 6.47% 7.67% 9.58% 12.15% 12.87%
Enterprise Value to Invested Capital (EV/IC)		 4.37 5.07 4.32 5.27 5.38 3.80 3.92 3.56 3.22 2.35 2.02
Enterprise Value to Revenue (EV/Rev)		 1.97 2.11 1.68 2.34 2.52 1.89 2.17 1.86 1.50 1.11 1.06
Enterprise Value to EBITDA (EV/EBITDA)		 9.57 10.29 8.28 11.55 13.28 9.33 10.52 8.80 6.95 5.39 5.34
Enterprise Value to EBIT (EV/EBIT)		 10.82 11.57 9.25 12.88 15.02 10.51 11.95 10.04 7.92 6.18 6.18
Enterprise Value to NOPAT (EV/NOPAT)		 14.84 15.78 12.30 16.91 19.32 13.31 14.91 12.57 9.88 7.50 7.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.09 11.48 7.13 9.59 10.74 8.99 11.53 9.49 7.77 5.88 4.85
Enterprise Value to Free Cash Flow (EV/FCFF)		 10.93 9.94 6.58 13.67 30.23 45.27 0.00 36.23 11.48 7.68 7.45
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.46 0.47 0.47 0.49 0.48 0.56 0.56 0.56 0.49 0.47 0.68
Long-Term Debt to Equity		 0.46 0.47 0.47 0.49 0.48 0.56 0.56 0.56 0.49 0.47 0.55
Financial Leverage		 -0.32 -0.32 -0.31 -0.28 -0.32 -0.30 -0.27 -0.23 -0.26 -0.21 -0.11
Leverage Ratio		 3.89 3.96 3.94 4.01 3.95 4.02 4.01 4.05 3.91 4.02 4.06
Compound Leverage Factor		 3.89 3.96 3.94 4.01 3.95 4.02 4.01 4.05 3.91 4.02 4.06
Debt to Total Capital		 31.49% 31.87% 32.05% 33.09% 32.61% 36.05% 35.86% 35.83% 33.02% 31.97% 40.34%
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% 7.54%
Long-Term Debt to Total Capital		 31.49% 31.87% 32.05% 33.09% 32.61% 36.05% 35.86% 35.83% 33.02% 31.97% 32.80%
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		 68.51% 68.13% 67.95% 66.91% 67.39% 63.95% 64.14% 64.17% 66.98% 68.03% 59.66%
Debt to EBITDA		 1.58 1.55 1.54 1.57 1.64 1.77 1.70 1.63 1.39 1.35 1.98
Net Debt to EBITDA		 -1.25 -1.29 -1.36 -0.98 -0.92 -0.68 -0.35 -0.44 -0.66 -0.58 -0.28
Long-Term Debt to EBITDA		 1.58 1.55 1.54 1.57 1.64 1.77 1.70 1.63 1.39 1.35 1.61
Debt to NOPAT		 2.45 2.38 2.29 2.29 2.38 2.53 2.41 2.32 1.98 1.88 2.70
Net Debt to NOPAT		 -1.94 -1.98 -2.02 -1.43 -1.33 -0.98 -0.50 -0.63 -0.94 -0.81 -0.38
Long-Term Debt to NOPAT		 2.45 2.38 2.29 2.29 2.38 2.53 2.41 2.32 1.98 1.88 2.19
Altman Z-Score		 1.69 1.71 1.59 1.80 1.94 1.79 1.94 1.90 1.79 1.65 1.61
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		 1.29 1.28 1.24 1.25 1.26 1.30 1.33 1.34 1.29 1.26 1.29
Quick Ratio		 1.23 1.19 1.16 1.16 1.16 1.24 1.26 1.26 1.21 1.18 1.21
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2,762 3,247 4,753 2,101 -350 -1,961 -4,524 -1,932 633 1,070 1,092
Operating Cash Flow to CapEx		 1,815.28% 1,244.81% 971.34% 955.03% 1,185.15% 597.94% 438.05% 771.09% 1,228.87% 508.52% 1,006.60%
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		 0.37 0.38 0.39 0.39 0.39 0.39 0.39 0.40 0.42 0.42 0.42
Accounts Receivable Turnover		 0.77 0.80 0.84 0.83 0.81 0.80 0.81 0.82 0.85 0.84 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		 18.50 19.90 20.36 20.80 21.23 21.52 20.94 20.85 20.68 20.79 20.34
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)		 473.44 454.03 436.93 440.04 451.47 456.40 450.63 443.51 427.44 436.21 430.62
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)		 473.44 454.03 436.93 440.04 451.47 456.40 450.63 443.51 427.44 436.21 430.62
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 13,394 12,658 12,080 13,949 14,890 15,847 17,844 17,118 15,491 15,966 17,955
Invested Capital Turnover		 2.11 2.20 2.23 2.17 2.25 2.24 2.16 2.12 2.19 2.12 1.91
Increase / (Decrease) in Invested Capital		 -1,411 -2,389 -3,685 -1,029 1,496 3,189 5,764 3,169 702 119 111
Enterprise Value (EV)		 58,552 64,181 52,160 73,548 80,040 60,141 69,922 60,988 49,858 37,584 36,224
Market Capitalization		 66,209 72,225 60,702 79,773 85,567 64,548 72,279 64,068 54,623 41,642 38,089
Book Value per Share		 $19.53 $19.46 $19.71 $19.73 $20.37 $20.47 $20.77 $21.14 $21.65 $21.75 $22.47
Tangible Book Value per Share		 $8.80 $8.76 $8.99 $8.59 $9.23 $9.15 $9.21 $9.45 $9.82 $9.64 $9.88
Total Capital		 30,727 30,385 30,349 30,150 30,296 31,671 31,497 31,474 30,243 29,433 33,220
Total Debt		 9,676 9,683 9,727 9,976 9,879 11,417 11,296 11,276 9,987 9,409 13,400
Total Long-Term Debt		 9,676 9,683 9,727 9,976 9,879 11,417 11,296 11,276 9,987 9,409 10,895
Net Debt		 -7,657 -8,044 -8,542 -6,225 -5,527 -4,407 -2,357 -3,080 -4,765 -4,058 -1,865
Capital Expenditures (CapEx)		 144 154 157 169 202 194 205 256 194 223 197
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 43 -458 -1,357 486 1,893 2,778 4,821 4,497 2,894 3,016 5,189
Debt-free Net Working Capital (DFNWC)		 14,103 13,860 12,259 12,405 12,716 13,989 14,829 15,252 13,316 12,358 16,445
Net Working Capital (NWC)		 14,103 13,860 12,259 12,405 12,716 13,989 14,829 15,252 13,316 12,358 13,940
Net Nonoperating Expense (NNE)		 -51 -30 -60 62 25 -59 -21 -11 -102 76 99
Net Nonoperating Obligations (NNO)		 -7,657 -8,044 -8,542 -6,225 -5,527 -4,407 -2,357 -3,080 -4,765 -4,058 -1,865
Total Depreciation and Amortization (D&A)		 161 190 141 162 204 215 212 225 228 230 235
Debt-free, Cash-free Net Working Capital to Revenue		 0.14% -1.51% -4.37% 1.55% 5.95% 8.71% 14.93% 13.68% 8.72% 8.94% 15.20%
Debt-free Net Working Capital to Revenue		 47.37% 45.55% 39.51% 39.43% 39.99% 43.87% 45.92% 46.41% 40.14% 36.63% 48.19%
Net Working Capital to Revenue		 47.37% 45.55% 39.51% 39.43% 39.99% 43.87% 45.92% 46.41% 40.14% 36.63% 40.85%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.29 $0.83 $1.08 $1.00 $1.12 $1.31 $1.30 $1.31 $1.54 $1.22 $1.26
Adjusted Weighted Average Basic Shares Outstanding		 1.10B 1.06B 1.04B 1.02B 1.03B 986M 969M 950M 959M 913M 877M
Adjusted Diluted Earnings per Share		 $1.29 $0.83 $1.08 $0.99 $1.09 $1.29 $1.29 $1.30 $1.53 $1.21 $1.25
Adjusted Weighted Average Diluted Shares Outstanding		 1.11B 1.07B 1.05B 1.02B 1.04B 999M 977M 960M 968M 920M 882M
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		 1.07B 1.05B 1.02B 1.00B 989.24M 972.53M 955.38M 935.65M 920.66M 882.11M 855.46M
Normalized Net Operating Profit after Tax (NOPAT)		 1,351 1,014 1,159 1,072 1,146 1,281 1,336 1,294 1,405 1,248 1,298
Normalized NOPAT Margin		 16.84% 13.17% 14.70% 13.66% 13.69% 16.45% 16.12% 15.37% 16.20% 14.94% 14.95%
Pre Tax Income Margin		 22.34% 15.70% 17.74% 16.71% 16.85% 20.58% 18.45% 18.21% 18.75% 16.68% 15.09%
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% 2.48% 5.14% 7.79%
Augmented Payout Ratio		 117.81% 116.87% 113.63% 121.61% 145.82% 133.00% 130.28% 118.36% 118.13% 124.77% 131.27%

Financials Breakdown Chart

Key Financial Trends

PayPal’s latest quarter shows a mixed picture: improving profitability and a strong balance sheet, but softer revenue growth and some operating pressure. In Q1 2026, revenue rose to $8.35 billion from $8.29 billion a year earlier, while net income came in at $1.11 billion. Cash generation remained solid, but the quarter also reflected continued share repurchases, investment activity, and a meaningful build in liabilities tied to the business model.

Here are the most important trends investors should watch:

  • Q1 2026 revenue increased modestly year over year to $8.35 billion from $8.29 billion in Q1 2025, showing the business is still growing.
  • Net income in Q1 2026 was $1.11 billion, up from $888 million in Q1 2025, helped by improved operating execution versus the prior year.
  • Operating cash flow remained strong at $1.13 billion in Q1 2026, which supports continued capital returns and balance sheet flexibility.
  • Cash, cash equivalents, and short-term investments totaled about $9.34 billion at the end of Q1 2026, giving PayPal a sizable liquidity cushion.
  • Total equity rose to $20.0 billion in Q1 2026 from $20.2 billion in Q3 2025 and remained well above 2023 levels, reflecting a generally stable capital base.
  • Basic EPS improved to $1.22 in Q1 2026 from $1.08 in Q2 2025 and $0.83 in Q1 2024, showing earnings recovery over the longer term.
  • Shares outstanding have been trending lower over time, but quarter-to-quarter changes remain modest and share count is still near the 900 million range.
  • PayPal continues to deploy cash into investments, buybacks, and debt management rather than making large acquisitions.
  • The balance sheet includes a large amount of operating liabilities, including “other current liabilities,” which is normal for a payments platform but makes the balance sheet less straightforward than a typical retailer or industrial company.
  • Revenue growth is still only modest, which suggests PayPal is not yet back to the stronger growth profile investors once expected.
  • Operating income in Q1 2026 was $1.49 billion, below Q4 2025’s $1.51 billion and only slightly above prior-year levels, indicating margin gains are limited.
  • Net cash from operations dropped sharply to $1.13 billion in Q1 2026 from $2.38 billion in Q4 2025, though that comparison is seasonal.
  • The company recorded $2.1 billion of net cash outflow from investing activities in Q1 2026, driven mainly by investment purchases and other investing items.
  • Long-term debt increased to $9.41 billion in Q1 2026 from $9.88 billion at year-end 2024 and was higher than some prior quarters, so leverage remains part of the story.
  • Treasury stock remains large at negative $34.65 billion in Q1 2026, reflecting the cumulative effect of buybacks and reducing accounting equity over time.

Longer-term pattern: compared with 2023, PayPal has stabilized after a period of weaker profitability and earnings pressure. Revenue has grown only gradually, but net income and cash generation have held up, and the company has continued to return capital through buybacks. The main question for investors is whether PayPal can reaccelerate top-line growth while keeping expenses under control.

Bottom line: PayPal still looks financially solid, with strong liquidity and consistent profitability, but the stock’s longer-term upside will likely depend on whether management can produce better growth in payment volume and revenue rather than relying mainly on cost discipline and share repurchases.

08/01/26 03:02 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. See PayPal's forecast for analyst expectations on what's next for the company.

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%.


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Financial statements for NASDAQ:PYPL last updated on 7/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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