PayPal

Financials Transaction & Payment Processing Services San Jose, California Last filing Feb 3, 2026 · FY2025

                    Revenue
                    FY2025
                
$33.2B
                    3y CAGR +6.4%
                    
                    P20
                    
                    +4.3%
                    
                    Net income
                    FY2025
                
$5.2B
                    Net margin +15.8%
                    
                    P30
                    
                    +26.2%
                    
                    Total assets
                    FY2025
                
$80.2B
                    ROA +6.5%
                    
                    P81
                    
                    -1.8%
                    
                    Operating cash flow
                    FY2025
                
$6.4B
                    FCF margin +16.8%
                    
                    P29
                    
                    -13.9%

13 yrs · FY2013–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 5 years

Total assets $80.2B

Total liabilities $59.9B

Shareholders equity $20.3B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	10.0%	8.0%	11.1%	9.9%	6.9%
Short Term Investments	3.0%	5.2%	6.1%	3.9%	5.7%
Accounts Receivable	1.0%	1.2%	1.3%	1.2%	1.1%
Prepaid Expenses	2.3%	5.7%	3.1%	2.4%	1.7%
Other Current Assets	4.1%	4.0%	4.0%	3.1%	2.3%
Total Current Assets	74.5%	74.9%	76.1%	73.1%	69.4%
Property,Plant and Equipment	2.1%	1.8%	1.8%	2.2%	2.5%
Operating Lease Assets	0.7%	0.7%	0.5%	0.7%	0.9%
Goodwill	13.6%	13.3%	13.4%	14.2%	15.1%
Intangible Assets	0.3%	0.4%	0.7%	1.0%	1.8%
Long Term Investments	5.4%	5.6%	4.0%	6.4%	9.0%
Other Noncurrent Assets	4.1%	4.0%	4.0%	3.1%	2.3%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	0.3%	0.3%	0.2%	0.2%	0.3%
Accrued Liabilities	7.5%	10.4%	7.8%	5.2%	5.0%
Current Portion of Long Term Debt	12.5%	12.1%	11.8%	13.2%	10.6%
Operating Lease Liabilities	0.2%	0.2%	0.2%	0.2%	0.2%
Other Current Liabilities	4.3%	3.6%	3.6%	—	—
Total Current Liabilities	57.9%	59.3%	59.0%	57.3%	56.8%
Long Term Debt	12.5%	12.1%	11.8%	13.2%	10.6%
Operating Lease Liabilities Noncurrent	0.7%	0.8%	0.5%	0.7%	0.8%
Other Noncurrent Liabilities	4.3%	3.6%	3.6%	—	—
Total Liabilities	74.7%	75.0%	74.4%	74.2%	71.3%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	26.9%	25.4%	23.9%	23.3%	22.7%
Retained Earnings	40.5%	33.5%	28.2%	24.1%	21.8%
Treasury Stock	41.3%	33.2%	25.6%	20.4%	15.7%
Accumulated Other Comprehensive Income	-0.8%	-0.7%	-0.9%	-1.2%	-0.2%
Total Stockholders Equity	25.3%	25.0%	25.6%	25.8%	28.7%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $33.2B

Operating income $6.1B

Net income $5.2B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	41.4%	39.0%	36.2%	35.0%	33.5%
Expenses Selling,General and Administrative	2.5%	2.6%	2.5%	2.7%	2.8%
Expenses Depreciation and Amortization	1.2%	1.3%	1.3%	1.7%	1.7%
Expenses Share Based Compensation	1.2%	1.5%	1.8%	1.6%	1.8%
Expenses Operating Expenses	33.8%	32.4%	30.1%	30.1%	27.8%
Other Income Expense Operating Income	7.6%	6.5%	6.1%	4.9%	5.6%
Other Income Expense Interest Income	0.6%	0.8%	0.6%	0.2%	0.1%
Other Income Expense Other Income/expense	-0.0%	0.0%	0.1%	-0.0%	-0.0%
Other Income Expense Income Before Tax	1.8%	1.2%	1.2%	4.3%	5.4%
Income Tax Income Tax Expense	1.3%	1.4%	1.4%	1.2%	-0.1%
net Income net Income	6.5%	5.1%	5.2%	3.1%	5.5%
net Income Comprehensive Income	6.4%	5.3%	5.4%	2.1%	6.0%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.2%	1.3%	1.3%	1.5%	1.5%
Earnings Per Share Weighted Average Shares Diluted	1.2%	1.3%	1.3%	1.5%	1.6%

Cash Flow Statement

Operating, investing, and financing flows

23 accounts · 5 years

Operating cash flow $6.4B

Investing cash flow $797.0M

Financing cash flow $-6.0B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	6.5%	5.1%	5.2%	3.1%	5.5%
Operating Activities Depreciation and Amortization	1.2%	1.3%	1.3%	1.7%	1.7%
Operating Activities Stock Based Compensation	1.2%	1.5%	1.8%	1.6%	1.8%
Operating Activities Deferred Income Taxes	0.3%	0.3%	-0.8%	-1.0%	-0.6%
Operating Activities Changes In Operating Assets and Liabilities	-0.2%	-0.1%	0.1%	0.2%	0.3%
Operating Activities Other Non Cash Items	0.4%	0.0%	0.1%	-0.3%	-0.0%
Operating Activities net Cash From Operating Activities	8.0%	9.1%	5.9%	7.4%	7.6%
Investing Activities Capital Expenditures	1.1%	0.8%	0.8%	0.9%	1.2%
Investing Activities Purchases of Investments	25.4%	32.1%	26.8%	25.7%	52.9%
Investing Activities Other Investing Activities	0.0%	-0.3%	-0.1%	-0.2%	0.0%
Investing Activities net Cash From Investing Activities	1.0%	2.1%	0.9%	-4.2%	-6.8%
Financing Activities Proceeds From Debt	3.3%	1.9%	1.9%	4.4%	0.4%
Financing Activities Repayment of Debt	2.7%	2.0%	1.3%	2.1%	0.5%
Financing Activities Repurchase of Common Stock	7.5%	7.4%	6.1%	5.3%	4.4%
Financing Activities Dividends Paid	0.2%	0.0%	0.0%	—	—
Financing Activities Proceeds From Stock Issuance	0.1%	0.1%	0.2%	0.2%	0.2%
Financing Activities Tax Withholding On Stock Based Compensation	0.5%	0.4%	0.3%	0.4%	1.4%
Financing Activities Other Financing Activities	-0.0%	-0.1%	0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-7.4%	-10.1%	-3.6%	-1.5%	-0.7%
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%	-0.3%	0.1%	-0.2%	-0.1%
Cash Reconciliation net Change In Cash	1.9%	0.8%	3.3%	1.4%	-0.0%
Cash Reconciliation Cash At Beginning of Period	30.0%	27.6%	26.6%	24.3%	23.8%
Cash Reconciliation Cash At End of Period	30.0%	27.6%	26.6%	24.3%	23.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	+18.3%	+16.7%	+16.9%	+13.9%	+16.8%
Net margin	+15.8%	+13.0%	+14.3%	+8.8%	+16.4%
FCF margin	+16.8%	+21.3%	+14.2%	+18.6%	+19.3%
Growth
Revenue CAGR (3y)	+6.4%	+7.8%	+11.5%	+15.7%	+18.0%
Returns
ROE	+25.8%	+20.3%	+20.2%	+11.9%	+19.2%
ROA	+6.5%	+5.1%	+5.2%	+3.1%	+5.5%
ROIC	+5.1%	+0.0%	+0.0%	+8.3%	+13.1%
Liquidity
Current ratio	1.29x	1.26x	1.29x	1.28x	1.22x
Quick ratio	0.19x	0.16x	0.21x	0.19x	0.14x
Leverage
D/E	2.96x	3.00x	2.90x	2.88x	2.49x
Interest coverage	—	—	14.49x	12.62x	18.37x
Efficiency
Asset turnover	0.41x	0.39x	0.36x	0.35x	0.33x
Cash conversion cycle	—	—	—	—	—

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