Loading…
PayPal Holdings, Inc. operates a technology platform that enables digital payments for merchants and consumers worldwide. The company operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, consumer credit and debit products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Hyperwallet, Honey, and Paidy names. The company was founded in 1998 and is headquartered in San Jose, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $33.2B | $7.7B | $5.2B | $5.6B | 25.8% | 4.3% | 26.2% |
| 2024 | $31.8B | $6.7B | $4.1B | $6.8B | 20.3% | 6.8% | -2.3% |
| 2023 | $29.8B | $6.8B | $4.2B | $4.2B | 20.2% | 8.2% | 75.5% |
| 2022 | $27.5B | $5.0B | $2.4B | $5.1B | 11.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 27,518 | 29,771 | 31,797 | 33,172 |
| Cost Of Revenue | 13,745 | 16,067 | 17,139 | 17,707 |
| Gross Profit | 13,773 | 13,704 | 14,658 | 15,465 |
| Operating Expense | 9,729 | 8,760 | 8,895 | 9,069 |
| Operating Income | 4,044 | 4,944 | 5,763 | 6,396 |
| EBITDA | 4,987 | 6,830 | 6,743 | 7,696 |
| EBIT | 3,670 | 5,758 | 5,711 | 6,733 |
| Pretax Income | 3,366 | 5,411 | 5,329 | 6,292 |
| Tax Provision | 947 | 1,165 | 1,182 | 1,059 |
| Net Income | 2,419 | 4,246 | 4,147 | 5,233 |
| Net Income Common Stockholders | 2,419 | 4,246 | 4,147 | 5,233 |
| Total Expenses | 23,474 | 24,827 | 26,034 | 26,776 |
| Interest Expense | 304 | 347 | 382 | 441 |
| Interest Income | 174 | 480 | 662 | 517 |
| Research And Development | 3,253 | 2,973 | 2,979 | 3,103 |
| Selling General And Administration | 4,356 | 3,868 | 4,148 | 4,262 |
| Normalized EBITDA | 5,498 | 6,545 | 7,466 | 7,865 |
| Normalized Income | 2,786.41 | 4,022.28 | 4,709.63 | 5,373.56 |
| Market Cap | 45,415.54 | 45,415.54 | 45,415.54 | 45,415.54 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| PayPal Holdings, Inc.this co. | PYPL | $48.4B | 8.68↓ discount | 2.24 | 25.8% | 6.15 |
| The Allstate Corporation | ALL | $56.8B | 5.35 | 1.92 | 35.9% | - |
| Arthur J. Gallagher & Co. | AJG | $55.2B | 37.06 | 2.37 | 6.4% | 18.57 |
| MetLife, Inc. | MET | $54.2B | 14.99 | 1.78 | 11.9% | - |
| Coinbase Global, Inc. | COIN | $51.9B |
| 41.86 |
| 3.57 |
| 8.5% |
| 27.45 |
| State Street Corporation | STT | $46.5B | 14.27 | 1.73 | 12.1% | - |
| MSCI Inc. | MSCI | $45.3B | 35.85 | -16.24 | -45.3% | 25.43 |
| Ameriprise Financial, Inc. | AMP | $44.9B | 11.74 | 6.39 | 54.4% | - |
| American International Group, Inc. | AIG | $42.4B | 12.98 | 0.98 | 7.5% | - |
| Peer Median | - | 14.63 | 1.85 | 10.2% | 25.43 | |