PYPL FY 2025 Earnings Report — PayPal Holdings, Inc. Revenue & Financial Results | Market Cap Arena

PayPal Holdings, Inc.PYPL

FY 2025 Earnings

Reported February 3, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$33.2B	—	$31.8B	—	4.3%
Op. Income	$6.1B	—	$5.3B	—	13.9%
Gross Margin	46.6%	—	46.1%	—	0.5pp
Net Margin	15.8%	—	13.0%	—	2.7pp
EPS (Diluted)	$5.41	—	$3.99	—	35.6%
Free Cash Flow	$5.6B	—	$6.8B	—	-17.8%

Revenue Flow

Item	Amount
REVENUE	$33.2B
Cost of Revenue	$17.7B
GROSS PROFIT	$15.5B
R&D Expenses	$3.1B
Selling & Marketing	$2.3B
General & Administrative	$2.0B
SG&A Expenses	$4.3B
Other Expenses	$2.0B
Operating Expenses	$9.4B
Cost & Expenses	$27.1B
OPERATING INCOME	$6.1B
Interest Income	$517M
Interest Expense	$441M
Other Income/Expenses	$227M
INCOME BEFORE TAX	$6.3B
Income Tax Expense	$1.1B
Net Income from Continuing Ops	$5.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.2B
D&A	$963M
EBIT	$6.7B
EBITDA	$7.7B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$33.2B
Cost of Revenue	$17.7B
GROSS PROFIT	$15.5B
R&D Expenses	$3.1B
Selling & Marketing	$2.3B
General & Administrative	$2.0B
SG&A Expenses	$4.3B
Other Expenses	$2.0B
Operating Expenses	$9.4B
Cost & Expenses	$27.1B
OPERATING INCOME	$6.1B
Interest Income	$517M
Interest Expense	$441M
Other Income/Expenses	$227M
INCOME BEFORE TAX	$6.3B
Income Tax Expense	$1.1B
Net Income from Continuing Ops	$5.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.2B
D&A	$963M
EBIT	$6.7B
EBITDA	$7.7B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$5.2B
Depreciation & Amortization	$963M
Stock-Based Compensation	$1.0B
Deferred Income Tax	$217M
Other Non-Cash Items	$65M
Change in Working Capital	-$1.1B
OPERATING CASH FLOW	$6.4B
Capital Expenditure	-$852M
Acquisitions (Net)	$0
Purchases of Investments	-$20.6B
Sales/Maturities of Investments	$23.2B
Other Investing Activities	-$972M
NET CASH FROM INVESTING	$797M
Net Debt Issuance	$482M
Common Stock Repurchased	-$6.1B
Common Dividends Paid	-$130M
Other Financing Activities	-$375M
NET CASH FROM FINANCING	-$6.0B
FREE CASH FLOW	$5.6B
Net Change in Cash	$1.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$8.0B
Short-Term Investments	$2.4B
Net Receivables	$47.5B
Inventory	$0
Other Current Assets	$1.8B
TOTAL CURRENT ASSETS	$59.8B
PP&E (Net)	$1.7B
Goodwill	$10.9B
Intangible Assets	$208M
Long-Term Investments	$4.3B
Tax Assets	$0
Other Non-Current Assets	$3.3B
TOTAL NON-CURRENT ASSETS	$20.4B
TOTAL ASSETS	$80.2B
Account Payables	$40.4B
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$6.0B
TOTAL CURRENT LIABILITIES	$46.4B
Long-Term Debt	$10.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$3.5B
TOTAL NON-CURRENT LIABILITIES	$13.5B
TOTAL LIABILITIES	$59.9B
Common Stock	$0
Additional Paid-In Capital	$21.6B
Retained Earnings	$32.5B
Treasury Stock	-$33.1B
Accum. Other Comp. Income	-$658M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$20.3B
Minority Interest	$0
TOTAL EQUITY	$20.3B
TOTAL LIABILITIES & EQUITY	$80.2B
Total Debt	$10.0B
Net Debt	$1.9B