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PYPL

PayPal Holdings, Inc.

PYPL

PayPal Holdings, Inc. • NASDAQ
$62.65 ▲ 1.33% (+0.82)
Market Cap $58.62 B
52w High $93.66
52w Low $55.85
Dividend Yield 0.56%
P/E 12.58
Volume 7.83M
Outstanding Shares 935.65M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $8.417B ▲ $2.351B ▲ $1.248B ▼ 14.827% ▼ $1.31 ▲ $1.834B ▼
Q2-2025 $8.288B ▲ $2.34B ▲ $1.261B ▼ 15.215% ▼ $1.3 ▼ $1.882B ▼
Q1-2025 $7.791B ▼ $2.186B ▼ $1.287B ▲ 16.519% ▲ $1.31 ▲ $1.951B ▲
Q4-2024 $8.366B ▲ $2.494B ▲ $1.121B ▲ 13.399% ▲ $1.12 ▲ $1.756B ▲
Q3-2024 $7.847B $2.263B $1.01B 12.871% $1 $1.672B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $10.755B ▲ $79.801B ▲ $59.603B ▲ $20.198B ▼
Q2-2025 $10.008B ▼ $79.777B ▼ $59.576B ▼ $20.201B ▼
Q1-2025 $11.211B ▲ $81.274B ▼ $61.02B ▼ $20.254B ▼
Q4-2024 $10.822B ▼ $81.611B ▼ $61.194B ▼ $20.417B ▲
Q3-2024 $11.918B $83.511B $63.337B $20.174B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.248B ▼ $1.974B ▲ $4.772B ▲ $-1.829B ▲ $4.873B ▲ $1.718B ▲
Q2-2025 $1.261B ▼ $898M ▼ $-20M ▲ $-3.174B ▼ $-859M ▲ $692M ▼
Q1-2025 $1.287B ▲ $1.16B ▼ $-3.657B ▼ $994M ▲ $-1.409B ▼ $964M ▼
Q4-2024 $1.121B ▲ $2.394B ▲ $2.457B ▼ $-3.585B ▼ $956M ▼ $2.191B ▲
Q3-2024 $1.01B $1.614B $2.799B $-2.529B $2.076B $1.445B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Other Value Added Services
Other Value Added Services
 $780.00M ▲$780.00M ▲$850.00M ▲$900.00M ▲
Transaction Revenue
Transaction Revenue
 $7.59Bn ▲$7.02Bn ▼$7.44Bn ▲$7.52Bn ▲

Five-Year Company Overview

Income Statement

Income Statement PayPal’s income statement shows a business that continues to grow and has been repairing profitability after a wobble in 2022. Revenue has increased steadily each year, suggesting the core payments engine is still expanding. Profitability dipped a few years ago but has since recovered, with operating profit and earnings per share improving as management tightened costs and focused on higher‑value activity. Net income is solid but not surging, which reflects both competitive pressures and continued investment. Overall, the company looks like a mature, scaled platform driving moderate, steady profit growth rather than explosive gains.

Balance Sheet

Balance Sheet The balance sheet is relatively stable and conservative for a large payments platform. Total assets have inched up over time, indicating gradual expansion rather than aggressive balance‑sheet growth. Cash levels move around but remain healthy, giving the company flexibility to invest or return capital. Debt is meaningful but not excessive and has stayed fairly steady, suggesting a controlled use of leverage. Equity has been broadly flat to slightly higher, which is consistent with a company balancing shareholder returns with ongoing investment. There are no obvious signs of financial strain in the balance‑sheet trend.

Cash Flow

Cash Flow Cash generation is a clear strength. PayPal consistently produces solid operating cash flow, and free cash flow remains robust even after funding regular technology and infrastructure spending. Capital expenditures are modest relative to the cash coming in, which points to an asset‑light, high‑margin model typical of leading digital platforms. The recent uptick in cash from operations suggests better working‑capital management and improved underlying profitability. This strong cash profile gives management room to support innovation, acquisitions, and shareholder returns without stretching the balance sheet.

Competitive Edge

Competitive Edge Competitively, PayPal sits in a strong but heavily contested position. Its biggest advantage is its two‑sided network: many consumers already have PayPal accounts, and many merchants already accept it, which reinforces usage on both sides. The brand is widely recognized and associated with security and ease of use, which matters in online payments. At the same time, the competitive field is intense. Technology‑focused processors, big tech wallets, and card networks are all pushing deeper into digital checkout and merchant services. In particular, pressure in unbranded processing and alternative wallets can chip away at growth and pricing power. PayPal’s task is to leverage its scale and data while defending share in the face of increasingly capable rivals.

Innovation and R&D

Innovation and R&D Innovation is clearly a strategic priority. PayPal is leaning heavily into artificial intelligence and data to personalize checkout, reduce fraud, and help merchants improve conversion. New features like one‑click guest checkout, AI‑driven offers, and smarter receipts aim to make PayPal more deeply embedded in the shopping experience rather than just a payment button. The company is also trying to turn its consumer app and Venmo into broader financial and commerce hubs, adding rewards, savings, and business tools. Longer‑term bets on AI agents, omnichannel payments, and digital currencies show ambition to stay ahead of industry shifts. The main risk is execution: integrating many products, scaling new experiences, and differentiating in a crowded field is complex and may take time to show up clearly in financial results.

Summary

Overall, PayPal looks like a mature digital payments leader with steady revenue growth, improving profitability, and strong cash generation, supported by a solid and relatively conservative balance sheet. Its network scale, brand, and data create real advantages, but the competitive landscape is fierce and evolving quickly. Management is responding by pushing hard on AI, richer merchant tools, and expanded consumer experiences, aiming to evolve from a payment processor into a broader commerce and financial platform. The key questions going forward are how effectively the company can translate this innovation push into faster growth, defend its position against agile competitors, and sustain margin improvements while continuing to invest for the next phase of digital commerce.

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