PYPL

MKT CAP:$47B

PayPal Holdings, Inc.

Market Cap

$47B

Financial Services·Financial - Credit Services·🇺🇸 United States·NASDAQ

Financials·Financial·🇺🇸·NASDAQ

Stock Price

$50.54-$7.60 (-13.08%)

Apr 24, 2026

Company Details

PayPal Holdings, Inc. operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, H...

CEO

Enrique J. Lores

IPO Date

Jul 6, 2015

Website

www.paypal.com

Key Metrics TTM

Revenue

$33.2B

+4.3% YoY

Net Income

$5.2B

EPS (Diluted)

$5.41

Free Cash Flow

$5.6B

Revenue / Share

$35.33

Gross Margin

46.6%

Operating Margin

18.3%

Net Margin

15.8%

FCF Margin

16.8%

P/S

1.4x

P/E

8.9x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 3, 2026

$33.2B+4.3%EPS $5.41

Q4 2025

Feb 3, 2026

$8.7B+3.7%EPS $1.53

Q3 2025

Oct 28, 2025

$8.4B+7.3%EPS $1.30

Q2 2025

Jul 29, 2025

$8.3B+5.1%EPS $1.29

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$6.5B	$3.3B	$711M
Q2 22	$6.8B	$3.3B	$764M
Q3 22	$6.8B	$3.5B	$1.1B
Q4 22	$7.4B	$3.7B	$1.2B
Q1 23	$7.0B	$3.3B	$999M
Q2 23	$7.3B	$3.3B	$1.1B
Q3 23	$7.4B	$3.4B	$1.2B
Q4 23	$8.0B	$3.7B	$1.7B
Q1 24	$7.7B	$3.5B	$1.2B
Q2 24	$7.9B	$3.6B	$1.3B
Q3 24	$7.8B	$3.7B	$1.4B
Q4 24	$8.4B	$3.9B	$1.4B
Q1 25	$7.8B	$3.7B	$1.5B
Q2 25	$8.3B	$3.8B	$1.5B
Q3 25	$8.4B	$3.9B	$1.5B
Q4 25	$8.7B	$4.0B	$1.5B

Valuation

Quarter	P/S	P/E
Q1 22	5.2x	37.7x
Q2 22	3.3x	42.8x
Q3 22	3.7x	43.2x
Q4 22	3.2x	36.0x
Q1 23	3.0x	30.9x
Q2 23	2.6x	18.3x
Q3 23	2.2x	16.8x
Q4 23	2.2x	15.5x
Q1 24	2.2x	15.6x
Q2 24	1.9x	13.2x
Q3 24	2.5x	17.6x
Q4 24	2.7x	20.5x
Q1 25	2.0x	14.2x
Q2 25	2.3x	15.7x
Q3 25	2.1x	13.7x
Q4 25	1.7x	11.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$1.2B	$1.0B
Q2 22	$1.3B	$1.1B
Q3 22	$1.8B	$1.6B
Q4 22	$1.6B	$1.4B
Q1 23	$1.2B	$1.0B
Q2 23	-$200M	-$350M
Q3 23	$1.3B	$1.1B
Q4 23	$2.6B	$2.5B
Q1 24	$1.9B	$1.8B
Q2 24	$1.5B	$1.4B
Q3 24	$1.6B	$1.4B
Q4 24	$2.4B	$2.2B
Q1 25	$1.2B	$964M
Q2 25	$898M	$692M
Q3 25	$2.0B	$1.7B
Q4 25	$2.4B	$2.2B

Capital Expenditures

Quarter	CapEx
Q1 22	$191M
Q2 22	$175M
Q3 22	$182M
Q4 22	$158M
Q1 23	$170M
Q2 23	$150M
Q3 23	$158M
Q4 23	$145M
Q1 24	$154M
Q2 24	$157M
Q3 24	$169M
Q4 24	$203M
Q1 25	$196M
Q2 25	$206M
Q3 25	$256M
Q4 25	$194M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+7.5%	+15.6%
Q2 22	+9.1%	+18.2%
Q3 22	+10.7%	+11.5%
Q4 22	+6.7%	+4.6%
Q1 23	+8.6%	+4.7%
Q2 23	+7.1%	+1.9%
Q3 23	+8.4%	+9.1%
Q4 23	+8.7%	+2.6%
Q1 24	+9.4%	+8.1%
Q2 24	+8.2%	+6.6%
Q3 24	+5.8%	+3.3%
Q4 24	+4.2%	+10.0%
Q1 25	+1.2%	-4.1%
Q2 25	+5.1%	+3.4%
Q3 25	+7.3%	+6.8%
Q4 25	+3.7%	+3.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$429M	6.6%
Q2 22	$312M	4.6%
Q3 22	$226M	3.3%
Q4 22	$294M	4.0%
Q1 23	$345M	4.9%
Q2 23	$363M	5.0%
Q3 23	$379M	5.1%
Q4 23	$388M	4.8%
Q1 24	$365M	4.7%
Q2 24	$298M	3.8%
Q3 24	$284M	3.6%
Q4 24	$283M	3.4%
Q1 25	$249M	3.2%
Q2 25	$286M	3.5%
Q3 25	$257M	3.1%
Q4 25	$210M	2.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$815M	$607M	$594M
Q2 22	$815M	$514M	$595M
Q3 22	$801M	$463M	$544M
Q4 22	$822M	$515M	$524M
Q1 23	$721M	$507M	$436M
Q2 23	$743M	$491M	$465M
Q3 23	$739M	$507M	$442M
Q4 23	$770M	$554M	$466M
Q1 24	$742M	$464M	$421M
Q2 24	$718M	$570M	$446M
Q3 24	$746M	$519M	$508M
Q4 24	$773M	$594M	$626M
Q1 25	$731M	$503M	$488M
Q2 25	$767M	$461M	$583M
Q3 25	$801M	$513M	$521M
Q4 25	$804M	$502M	$691M

Revenue Segments

Quarter	Other Value Added Services	Transaction Revenue
Q1 22	$485M	$6.0B
Q2 22	$534M	$6.3B
Q3 22	$612M	$6.2B
Q4 22	$681M	$6.7B
Q1 23	$676M	$6.4B
Q2 23	$731M	$6.6B
Q3 23	$764M	$6.7B
Q4 23	$743M	$7.3B
Q1 24	$665M	$7.0B
Q2 24	$732M	$7.2B
Q3 24	$780M	$7.1B
Q4 24	$778M	$7.6B
Q1 25	$775M	$7.0B
Q2 25	$847M	$7.4B
Q3 25	$895M	$7.5B
Q4 25	$857M	$7.8B

Revenue by Geography

Quarter	Countries Other Than US And United Kingdom	United States
Q1 23	$2.9B	$4.1B
Q2 23	$3.1B	$4.2B
Q3 23	$3.2B	$4.3B
Q4 23	$3.4B	$4.6B
Q1 24	$3.2B	$4.5B
Q2 24	$3.3B	$4.5B
Q3 24	$3.3B	$4.5B
Q4 24	$3.6B	$4.7B
Q1 25	$3.3B	$4.5B
Q2 25	$3.6B	$4.7B
Q3 25	$3.7B	$4.8B
Q4 25	$3.7B	$4.9B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$4.9B	$3.1B	$8.0B
Q2 22	$4.6B	$4.7B	$9.3B
Q3 22	$6.7B	$4.2B	$10.8B
Q4 22	$7.8B	$3.1B	$10.9B
Q1 23	$7.1B	$3.5B	$10.6B
Q2 23	$5.5B	$4.4B	$9.9B
Q3 23	$6.8B	$4.7B	$11.5B
Q4 23	$9.1B	$5.0B	$14.1B
Q1 24	$9.7B	$4.6B	$14.3B
Q2 24	$7.7B	$5.9B	$13.6B
Q3 24	$7.3B	$4.6B	$11.9B
Q4 24	$6.6B	$4.3B	$10.8B
Q1 25	$7.4B	$3.8B	$11.2B
Q2 25	$6.7B	$3.3B	$10.0B
Q3 25	$9.0B	$1.8B	$10.8B
Q4 25	$8.0B	$2.4B	$10.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	1.17B	-1.3%	-1.5%
Q2 22	1.16B	-1.2%	-2.4%
Q3 22	1.16B	-0.1%	-2.5%
Q4 22	1.14B	-1.1%	-3.6%
Q1 23	1.13B	-0.9%	-3.2%
Q2 23	1.11B	-1.8%	-3.8%
Q3 23	1.10B	-1.4%	-5.1%
Q4 23	1.08B	-1.3%	-5.2%
Q1 24	1.07B	-1.1%	-5.5%
Q2 24	1.05B	-2.3%	-6.0%
Q3 24	1.02B	-2.2%	-6.7%
Q4 24	1.01B	-1.0%	-6.5%
Q1 25	999M	-1.5%	-6.8%
Q2 25	977M	-2.2%	-6.7%
Q3 25	978M	+0.1%	-4.5%
Q4 25	939M	-4.0%	-7.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$209.8K	31K
Q2 22	$220.3K	31K
Q3 22	$221.6K	31K
Q4 22	$246.9K	30K
Q1 23	$235.5K	30K
Q2 23	$243.7K	30K
Q3 23	$248.1K	30K
Q4 23	$295.1K	27K
Q1 24	$283.1K	27K
Q2 24	$289.9K	27K
Q3 24	$288.5K	27K
Q4 24	$342.9K	24K
Q1 25	$319.3K	24K
Q2 25	$339.7K	24K
Q3 25	$345.0K	24K
Q4 25	$364.5K	24K

Revenue / Employee