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PayPal Holdings, Inc.

PYPL· Nasdaq· Services-Business Services, NEC

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
16.8%
ROIC, 5 yr avg
–
Revenue, 5 yr CAGR
+9.1%
We record prices for the companies we cover; PYPL is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
968.0M
Revenue
$33.2B
Free cash flow
$5.6B
Owner earnings
$4.6B

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
–
Operating
18.3%
Net
15.8%
Free cash flow
16.8%
Owner earnings
13.8%
Stock pay
3.0%

Returns

ROIC, FY2025
–
ROIC, 5 yr avg
–
ROE, FY2025
25.8%
ROE, 5 yr avg
19.5%

Growth (CAGR)

Revenue, 3 yr
6.4%
Revenue, 5 yr
9.1%
Revenue, 9 yr
13.2%
Diluted EPS, 3 yr
37.3%
Diluted EPS, 5 yr
8.9%
Diluted EPS, 9 yr
18.8%
Free cash flow, 3 yr
2.9%
Free cash flow, 5 yr
0.8%
Free cash flow, 9 yr
9.3%

Financial health · FY2025

Cash and investments
$10.4B
Total debt
$10.0B
Net cash
$435.0M
Debt/Equity
0.5x
Debt/FCF
1.8x

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
2.5%
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
-4.0%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$33.2B

+13.2% a year over 9 years

FY2016: Revenue $10.8BFY2017: Revenue $13.1BFY2018: Revenue $15.5BFY2019: Revenue $17.8BFY2020: Revenue $21.5BFY2021: Revenue $25.4BFY2022: Revenue $27.5BFY2023: Revenue $29.8BFY2024: Revenue $31.8BFY2025: Revenue $33.2B
FY2016FY2025

Margins

Operating18.3%Net15.8%

FY2025

FY2016: Operating 14.6%, Net 12.9%FY2017: Operating 16.2%, Net 13.7%FY2018: Operating 14.2%, Net 13.3%FY2019: Operating 15.3%, Net 13.8%FY2020: Operating 15.3%, Net 19.6%FY2021: Operating 16.8%, Net 16.4%FY2022: Operating 13.9%, Net 8.8%FY2023: Operating 16.9%, Net 14.3%FY2024: Operating 16.7%, Net 13.0%FY2025: Operating 18.3%, Net 15.8%
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$5.6BOwner earnings$4.6B

Free cash flow +9.3% a year

FY2016: Free cash flow $2.5B, Owner earnings $2.1BFY2017: Free cash flow $1.9B, Owner earnings $1.1BFY2018: Free cash flow $4.7B, Owner earnings $3.8BFY2019: Free cash flow $3.4B, Owner earnings $2.3BFY2020: Free cash flow $5.4B, Owner earnings $4.0BFY2021: Free cash flow $4.9B, Owner earnings $3.5BFY2022: Free cash flow $5.1B, Owner earnings $3.8BFY2023: Free cash flow $4.2B, Owner earnings $2.7BFY2024: Free cash flow $6.8B, Owner earnings $5.5BFY2025: Free cash flow $5.6B, Owner earnings $4.6B
FY2016FY2025

Diluted shares

968.0M

-20.5% over 9 years, net buybacks

FY2016: Diluted shares 1.22BFY2017: Diluted shares 1.22BFY2018: Diluted shares 1.20BFY2019: Diluted shares 1.19BFY2020: Diluted shares 1.19BFY2021: Diluted shares 1.19BFY2022: Diluted shares 1.16BFY2023: Diluted shares 1.11BFY2024: Diluted shares 1.04BFY2025: Diluted shares 968.0M
FY2016FY2025

Return on invested capital

–

FY2025

FY2016: ROIC –FY2017: ROIC –FY2018: ROIC 30.3%FY2019: ROIC 20.1%FY2020: ROIC 17.2%FY2021: ROIC –FY2022: ROIC 13.9%FY2023: ROIC –FY2024: ROIC –FY2025: ROIC –
FY2016FY2025

Net cash

$435.0M

$435.0M more cash than debt

FY2016: Net cash –FY2017: Net cash –FY2018: Net cash $9.1BFY2019: Net cash $5.8BFY2020: Net cash $4.1BFY2021: Net cash $1.5BFY2022: Net cash $451.0MFY2023: Net cash $4.4BFY2024: Net cash $1.0BFY2025: Net cash $435.0M
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$10.8B$13.1B$15.5B$17.8B$21.5B$25.4B$27.5B$29.8B$31.8B$33.2B
Revenue growth17.2%20.8%18.0%15.0%20.7%18.3%8.5%8.2%6.8%4.3%
Gross margin––––––––––
Operating margin14.6%16.2%14.2%15.3%15.3%16.8%13.9%16.9%16.7%18.3%
Net income$1.4B$1.8B$2.1B$2.5B$4.2B$4.2B$2.4B$4.2B$4.1B$5.2B
Net margin12.9%13.7%13.3%13.8%19.6%16.4%8.8%14.3%13.0%15.8%
Diluted EPS$1.15$1.47$1.71$2.07$3.54$3.52$2.09$3.84$3.99$5.41
Return on invested capital?––30.3%20.1%17.2%–13.9%–––
Cash
Operating cash flow$3.2B$2.5B$5.5B$4.1B$6.2B$5.8B$5.8B$4.8B$7.5B$6.4B
Capital expenditure$669.0M$667.0M$823.0M$704.0M$866.0M$908.0M$706.0M$623.0M$683.0M$852.0M
Free cash flow$2.5B$1.9B$4.7B$3.4B$5.4B$4.9B$5.1B$4.2B$6.8B$5.6B
Stock-based compensation$438.0M$733.0M$853.0M$1.0B$1.4B$1.4B$1.3B$1.5B$1.2B$1.0B
Owner earnings?$2.1B$1.1B$3.8B$2.3B$4.0B$3.5B$3.8B$2.7B$5.5B$4.6B
Free cash flow per share$2.04$1.53$3.87$2.83$4.51$4.12$4.41$3.81$6.51$5.75
Capital allocation
Dividends paid–––––––$0$0$130.0M
Share repurchases$995.0M$1.0B$3.5B$1.4B$1.6B$3.4B$4.2B$5.0B$6.0B$6.1B
Diluted shares1.22B1.22B1.20B1.19B1.19B1.19B1.16B1.11B1.04B968.0M
Share count change?-0.9%0.2%-1.5%-1.2%-0.1%-0.1%-2.4%-4.4%-6.1%-6.8%
Balance sheet
Cash and equivalents$1.6B$2.9B$7.6B$7.3B$4.8B$5.2B$7.8B$9.1B$6.7B$8.0B
Short-term investments$3.4B$2.8B$1.5B$3.4B$8.3B$4.3B$3.1B$5.0B$4.3B$2.4B
Total debt––$0$5.0B$8.9B$8.0B$10.4B$9.7B$9.9B$10.0B
Net debt––-$9.1B-$5.8B-$4.1B-$1.5B-$451.0M-$4.4B-$1.0B-$435.0M
Shareholders' equity$14.7B$16.0B$15.4B$16.9B$20.0B$21.7B$20.3B$21.1B$20.4B$20.3B

Latest filings

All on EDGAR
2026-10-2710-QQuarterly report
2026-10-278-KEarnings release
2026-07-2810-QQuarterly report
2026-07-288-KEarnings release
2026-05-0510-QQuarterly report
2026-05-058-KEarnings release
2026-04-07DEF 14AProxy statement
2026-02-0310-KAnnual report
2026-02-038-KEarnings release
2025-10-2810-QQuarterly report

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