Pricing Log in Create free account
Friday 6 November 2026 Export PYPL’s income statement to Excel — free account

PayPal Holdings, Inc.

PYPL Financial Credit Services

PayPal Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $33.2 billion, up 4.32% from fiscal 2024.

Revenue
+1.98%
EPS
−3.53%
Free cash flow
−16.6%
Total debt
+19.5%

Quarter to September 2026, against a year earlier

59.66 0.70 +1.19%
Market cap
$49.0B
P/E
11.2×
Fwd P/E
11.2×
Dividend yield
0.95%
F-score
8/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Reportable Segment

Every year since 2013 →

Insider Decisions last twelve months

Bought, $m 0.25
Sold, $m 5.87
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 1 — — — — —
Sell — — 3 3 2 1 3 2 1 3 1 —
Insider Ownership 2.28%

Capital & Financial Ratios $m

Size
Market Cap 48,980.00
Revenue ttm 34,295.00
Net income ttm 4,727.00
Free cash flow ttm 6,320.00
Net debt Q 3,192.00
Valuation
P/E 11.16
Forward P/E 11.20
Price / sales 1.46
Forward P/S Powerpack
Price / FCF 7.92
Price / book 2.57
Financial health
Current ratio Q 1.26
Debt / equity Q 0.69
Interest coverage Q —
Growth
Revenue growth Q +1.98% (above 0%: growing)
Operating income growth Q −7.76% (below 0%: shrinking)
EPS, this year +5.21%
EPS, next year A +5.92%
Revenue, next year A +4.14%
EPS, past 5 yrs +8.85%
EPS, next 5 yrs A +6.48%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 7.37%
10-year low 10-year high
P/S against its own 10 years 6.09%
10-year low 10-year high
P/B against its own 10 years 6.45%
10-year low 10-year high

Dividends

Yield
0.95%
Annual rate
0.56
Payout ratio
10.7%
  1. 0.14 ’25
  2. 0.56 ’26e +301
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 14,060 10,924 10,422 10,280
Receivables 40,004 38,655 39,038 39,140
Inventory — — — —
Other — — — —
62,569 58,206 59,759 60,549
2023 2024 2025 Q'26
Payables 139 227 240 152
ST’ Debt — — — 2,533
Other — — — —
48,466 45,490 46,443 47,890

Compound Annual Growth %

10y 5y 3y
Sales 13.62% 9.11% 6.43%
Cash Flow 9.68% 0.63% 3.34%
Earnings 15.60% 4.49% 29.33%
Book Value 3.94% 0.19% (0.03%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.31 Actual 1.45

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.29 1.23 Miss by 0.06
Q1 FY26 1.27 1.34 Beat by 0.07
Q2 FY26 1.28 1.38 Beat by 0.10
Q3 FY26 1.31 1.45 Beat by 0.14
Q4 FY26 1.42 — Reports 2 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.21 1.25 1.25 — —
’25 1.29 1.29 1.30 1.53 5.41
’24 0.83 1.08 0.99 1.11 3.99
’23 0.70 0.92 0.93 1.29 3.84
’22 0.43 (0.29) 1.15 0.81 2.09
’21 0.92 1.00 0.92 0.68 3.52
’20 0.07 1.29 0.86 1.32 3.54
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 8,353 8,682 8,584 — —
’25 7,791 8,288 8,417 8,676 33,172
’24 7,699 7,885 7,847 8,366 31,797
’23 7,040 7,287 7,418 8,026 29,771
’22 6,483 6,806 6,846 7,383 27,518
’21 6,033 6,238 6,182 6,918 25,371
’20 4,618 5,261 5,459 6,116 21,454
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,134 1,983 1,592 — —
’25 1,160 898 1,974 2,384 6,416
’24 1,917 1,525 1,614 2,394 7,450
’23 1,170 (200) 1,259 2,614 4,843
’22 1,217 1,250 1,755 1,591 5,813
’21 1,758 1,306 1,513 1,220 5,797
’20 1,421 1,772 1,314 1,712 6,219
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 911 1,786 1,433 — —
’25 966 693 1,718 2,190 5,567
’24 1,763 1,368 1,445 2,192 6,768
’23 1,001 (311) 1,105 2,470 4,265
’22 1,029 1,077 1,573 1,433 5,112
’21 1,537 1,060 1,288 1,009 4,894
’20 1,334 1,580 1,073 1,486 5,473
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 28.2% a year for ten years.

Implied
28.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 10,842 13,094 15,451 17,772 21,454 25,371 27,518 29,771 31,797 33,172 34,295 +13.2% 34,546 35,981 37,656 +4.3%
Gross margin, % 47.42 48.87 46.53 44.94 46.62 46.99 42.35 39.59 40.54 41.48 40.55 (5.9) pt
EBT 1,631 2,200 2,376 2,998 5,065 4,099 3,366 5,411 5,329 6,292 5,704 +16.2%
EBT margin, % 15.04 16.80 15.38 16.87 23.61 16.16 12.23 18.18 16.76 18.97 16.63 +3.9 pt
Net income 1,401 1,795 2,057 2,459 4,202 4,169 2,419 4,246 4,147 5,233 4,727 +15.8%
Per share, $
Per share, $ Revenue 8.96 10.88 13.05 15.14 18.29 21.61 23.85 26.99 30.90 34.59 40.39 +16.2%
Earnings 1.16 1.49 1.74 2.09 3.58 3.55 2.10 3.85 4.03 5.46 5.28 +18.8%
Cash flow 2.61 2.10 4.63 3.47 5.30 4.94 5.04 4.39 7.24 6.69 8.35 +11.0%
Capex (0.55) (0.55) (0.69) (0.59) (0.64) (0.77) (0.61) (0.52) (0.66) (0.89) (0.91) +5.4%
Free cash flow 2.06 1.55 3.94 2.88 4.67 4.17 4.43 3.87 6.58 5.81 7.44 +12.2%
Book value 12.16 13.30 12.99 14.42 17.10 18.51 17.57 19.09 19.84 21.12 22.95 +6.3%
Shares, m 1,210 1,203 1,184 1,174 1,173 1,174 1,154 1,103 1,029 959 900 (2.6%)
Valuation, ×
Valuation, × P/E 34.70 49.23 48.33 51.76 65.42 52.97 35.35 15.92 21.18 10.69 11.16 38.6
P/S 4.49 6.78 6.44 7.15 12.80 8.73 3.13 2.28 2.76 1.69 1.46 5.6
P/B 3.31 5.55 6.47 7.50 13.69 10.19 4.25 3.22 4.30 2.76 2.57 6.1
EV/Sales 4.03 6.35 5.85 6.83 12.62 8.71 3.13 2.13 2.73 1.72 — 5.4
EV/FCF 17.57 44.60 19.41 35.85 49.46 45.17 16.86 14.90 12.84 10.27 — 26.7
Cash, $m
Cash, $m Operating cash flow 3,158 2,531 5,480 4,071 6,219 5,797 5,813 4,843 7,450 6,416 7,093 +8.2%
Capex (669) (667) (820) (687) (746) (903) (701) (578) (682) (849) (773) +2.7%
Free cash flow 2,489 1,864 4,660 3,384 5,473 4,894 5,112 4,265 6,768 5,567 6,320 +9.4%
Balance, $m
Balance, $m Working capital 8,855 9,782 7,059 11,576 12,548 9,545 12,416 14,103 12,716 13,316 12,659 +4.6%
Net debt (4,975) (5,695) (9,109) (5,796) (4,144) (1,451) (451) (4,384) (1,045) (435) 3,192 (23.7%)
Shareholders’ equity 14,712 15,994 15,386 16,929 20,063 21,727 20,274 21,051 20,417 20,256 19,483 +3.6%
Returns, %
Returns, % ROA 4.52 4.86 4.89 5.20 6.90 5.70 3.13 5.28 5.16 6.59 5.86 +2.1 pt
ROIC 10.18 12.91 21.85 15.26 12.91 13.14 12.10 18.85 17.18 19.12 16.06 +8.9 pt
ROE 9.84 11.69 13.11 15.22 22.72 19.95 11.52 20.55 20.00 25.73 23.83 +15.9 pt
People
People Employees 18,100 18,700 21,800 23,200 26,500 30,900 29,900 27,200 24,400 23,800 — +3.1%
Revenue/emp, $m 0.60 0.70 0.71 0.77 0.81 0.82 0.92 1.09 1.30 1.39 — +9.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

PayPal operates a global, two-sided payments network that connects consumers and merchants. Its products help people pay for purchases, send and receive money, manage balances and finances, and use payment methods online, in person and through mobile devices. The network had 439 million active accounts across approximately 200 markets at December 31, 2025.

Consumers use PayPal and Venmo digital wallets for checkout, person-to-person transfers, international transfers through Xoom, debit and credit products, buy now, pay later, and some cryptocurrency activities. At checkout, customers can use bank accounts, wallet balances, cards, eligible rewards, certain cryptocurrencies and other stored-value products.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Reportable Segment 33,172 100.00%
Gross margin 41.48%
Operating margin 18.28%
Pre-tax margin 18.97%

Revenue by segment since 2013

PayPal Holdings, Inc. vs peers in Credit Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AXP American Express Company $217.9B 18.3× 17.4× +6.92% (above 0%: growing) +31.16% (above 0%: growing) −20.47% (below 0%: shrinking) 91.27% 0.00% Compare
COF Capital One Financial Corporation $122.6B 12.1× 11.7× +3.24% (above 0%: growing) +16.36% (above 0%: growing) −39.32% (below 0%: shrinking) 80.29% 0.00% Compare
PYPL PayPal Holdings, Inc. $49.0B 11.2× 11.2× +1.98% (above 0%: growing) −3.53% (below 0%: shrinking) −16.59% (below 0%: shrinking) 40.96% 16.33%
AFRM Affirm Holdings, Inc. $23.6B 11.8× 36.6× +35.24% (above 0%: growing) +100.00% (above 0%: growing) −54.85% (below 0%: shrinking) 0.00% 14.82% Compare
SYF Synchrony Financial $23.1B 7.7× 7.9× +0.60% (above 0%: growing) −6.23% (below 0%: shrinking) −5.27% (below 0%: shrinking) 83.39% 0.00% Compare
SOFI SoFi Technologies, Inc. $20.8B 27.8× 27.5× +41.86% (above 0%: growing) +58.33% (above 0%: growing) −120.02% (below 0%: shrinking) 77.00% 0.00% Compare
ALLY Ally Financial Inc. $11.7B 8.8× 8.1× +4.53% (above 0%: growing) +10.92% (above 0%: growing) +32.70% (above 0%: growing) 62.76% 0.00% Compare
FCFS FirstCash Holdings, Inc. $8.0B 20.4× 18.5× +17.70% (above 0%: growing) +25.27% (above 0%: growing) −12.69% (below 0%: shrinking) 49.54% 15.77% Compare
KLAR Klarna Group plc $7.7B — (loss-making) 8.2× +26.61% (above 0%: growing) n/m −129.24% (below 0%: shrinking) 61.23% 2.59% Compare
Median of peers $21.9B 12.1× 14.5× +12.31% +25.27% −29.89% 69.88% 0.00%

All 53 Credit Services stocks →

From the latest earnings call

Updated

  • CEO Enrique Loris said financial services represented more than 20% of 2026 transaction margin dollars, while Venmo and Braintree each delivered double-digit payment-volume growth.
  • CFO Jamie Miller raised PayPal’s full-year guidance and said the company plans further investment in its consumer experience, merchant checkout and financial services.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Freedom Broker Nov 6, 2026 Downgrade Hold —
Bank of America Oct 29, 2026 Resumed Underperform —
Clear Street Oct 28, 2026 Target raised Hold 60.00 → 62.00
Citi Oct 28, 2026 Target cut Hold 61.00 → 58.00
Evercore ISI Oct 27, 2026 Target raised Hold 40.00 → 45.00
Truist Oct 26, 2026 Target raised — 58.00
Barclays Oct 13, 2026 Target cut Hold 57.00 → 56.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 76.01%
Held by the ten largest 40.32%
Holder Shares Stake Change
Vanguard 84.48m 9.88% −5.46m
BlackRock 74.97m 8.76% +1.28m
State Street 41.23m 4.82% −754.75k
Invesco 33.44m 3.91% +1.33m
Geode Capital Management 29.37m 3.43% +3.22m
Comprehensive Financial Management LLC 23.95m 2.80% −2.05m
Bank of America 22.59m 2.64% −3.02m
UBS 11.96m 1.40% −137.72k
Goldman Sachs 11.58m 1.35% −520.45k
Norges Bank 11.38m 1.33% +11.38m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 7 April 2026

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group 10.05%
BlackRock, Inc. 8.06%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

PayPal Holdings, Inc. (PYPL) Latest News

6 Nov

Impact 3 · · TIKR

4 Nov

Impact 3 · · Investing.com

30 Oct

Impact 3 · · StockStory

29 Oct

Impact 4 · · The Motley Fool
Impact 3 · · Insider Monkey
Impact 3 · · Investing.com

28 Oct

Impact 4 · · TheStreet
Impact 4 · · Zacks earnings
Impact 4 · · The Motley Fool
Impact 3 ·
Impact 3 · · MT Newswires
Impact 3 · · Simply Wall St.
Impact 3 · · Zacks
Impact 3 · · Stocktwits
Impact 3 · · MT Newswires
Impact 3 · · TIKR

27 Oct

Impact 4 · · Benzinga earnings
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat transcript
Impact 4 · · paymentsdive.com
Impact 4 · · InvestorsHub
Impact 4 · · Proactive Investors
Impact 3 · · Stocktwits
Impact 3 · · unchainedcrypto.com
Impact 3 · · The Motley Fool
Impact 3 · · Zacks
Impact 3 · · MT Newswires
Impact 3 · · Stocktwits
Impact 3 · · Zacks
Impact 3 · · StockStory earnings

PYPL metrics, ten years each

stockrow.com/PYPL · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com