PayPal Holdings debt and dilution79

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$13,400M

Cash & equivalents

USD millions

$8,306M

Net debt

USD millions

$5,094M

Debt / equity

0.68×

Debt / assets

16.2%

Net debt / EBITDA

× · TTM

0.74×

Debt / FCF

× · TTM

2.03×

Interest coverage

× · TTM

12.9×

Current ratio

1.29×

Diluted shares

Million shares

882M shares

Basic shares

Million shares

877M shares

Share count growth

-9.49%

Share repurchases

USD millions

$1,552M

Quarterly data

PayPal Holdings capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	13,400	8,306	5,094	0.68×	16.2%	0.74×	2.03×	12.9×	1.29×	882	877	-9.49%	1,552
FY 2026 Q1	Mar 31, 2026	10,876	6,977	3,899	0.54×	13.5%	0.56×	1.98×	13.41×	1.26×	920	913	-7.4%	1,500
FY 2025 Q4	Dec 31, 2025	11,583	8,049	3,534	0.57×	14.45%	0.5×	2.08×	13.75×	1.29×	938.33	932.29	-6.42%	1,501
FY 2025 Q3	Sep 30, 2025	—	8,995	—	—	—	—	—	14.04×	1.34×	960	950	-6.4%	1,500
FY 2025 Q2	Jun 30, 2025	—	6,688	—	—	—	—	—	13.97×	1.33×	977	969	-7.01%	1,551
FY 2025 Q1	Mar 31, 2025	—	7,449	—	—	—	—	—	14.25×	1.3×	999	986	-7.33%	1,500
FY 2024 Q4	Dec 31, 2024	—	6,561	—	—	—	—	—	13.94×	1.26×	1,012.2	996.24	-7.69%	1,269
FY 2024 Q3	Sep 30, 2024	—	7,272	—	—	—	—	—	15.09×	1.25×	1,024	1,015	-7.22%	1,776
FY 2024 Q2	Jun 30, 2024	—	7,701	—	—	—	—	—	15.31×	1.24×	1,047	1,042	-6.21%	1,501
FY 2024 Q1	Mar 31, 2024	—	9,693	—	—	—	—	—	15.02×	1.28×	1,072	1,064	-5.76%	1,501
FY 2023 Q4	Dec 31, 2023	—	9,081	—	—	—	—	—	14.49×	1.29×	1,083.26	1,079.26	-5.26%	607
FY 2023 Q3	Sep 30, 2023	—	6,816	—	—	—	—	—	13.02×	1.3×	1,098	1,094	-5.2%	1,434
FY 2023 Q2	Jun 30, 2023	—	5,504	—	—	—	—	—	12.84×	1.3×	1,114	1,111	-4.06%	1,529
FY 2023 Q1	Mar 31, 2023	—	7,101	—	—	—	—	—	12.42×	1.29×	1,134	1,129	-2.92%	1,432
FY 2022 Q4	Dec 31, 2022	—	7,776	—	—	—	—	—	12.62×	1.28×	1,143.16	1,139.16	-2.97%	1,010
FY 2022 Q3	Sep 30, 2022	—	6,659	—	—	—	—	—	13.3×	1.27×	1,157	1,154	-1.7%	939
FY 2022 Q2	Jun 30, 2022	—	4,583	—	—	—	—	—	14.56×	1.23×	1,158	1,158	-1.36%	750
FY 2022 Q1	Mar 31, 2022	—	4,861	—	—	—	—	—	16.87×	1.19×	1,172	1,163	-0.85%	1,500
FY 2021 Q4	Dec 31, 2021	—	5,197	—	—	—	—	—	18.37×	1.22×	1,183.03	1,174	0.17%	1,500
FY 2021 Q3	Sep 30, 2021	—	7,782	—	—	—	—	—	18×	1.3×	1,187	1,174	0.17%	350
FY 2021 Q2	Jun 30, 2021	—	5,745	—	—	—	—	—	17.71×	1.29×	1,186	1,174	0.09%	200
FY 2021 Q1	Mar 31, 2021	—	5,717	—	—	—	—	—	17.1×	1.29×	1,190	1,173	0%	1,323
FY 2020 Q4	Dec 31, 2020	—	4,794	—	—	—	—	—	15.74×	1.33×	1,191	1,172	-0.17%	265
FY 2020 Q3	Sep 30, 2020	—	6,112	—	—	—	—	—	16.71×	1.38×	1,190	1,172	-0.26%	370
FY 2020 Q2	Jun 30, 2020	—	6,353	—	—	—	—	—	18.01×	1.38×	1,184	1,173	-0.17%	200
FY 2020 Q1	Mar 31, 2020	—	7,854	—	—	—	—	—	19.99×	1.39×	1,185	1,173	0.17%	800
FY 2019 Q4	Dec 31, 2019	4,965	7,349	-2,384	0.29×	9.67%	-0.66×	1.29×	23.64×	1.43×	1,187	1,174	-0.25%	305
FY 2019 Q3	Sep 30, 2019	4,964	6,877	-1,913	0.3×	9.88%	-0.56×	1.35×	25.69×	1.43×	1,188	1,175	-0.51%	350
FY 2019 Q2	Jun 30, 2019	—	4,909	—	—	—	—	—	25.4×	1.22×	1,187	1,175	-1.01%	0
FY 2019 Q1	Mar 31, 2019	—	4,515	—	—	—	—	—	26.24×	1.22×	1,188	1,171	-1.76%	756
FY 2018 Q4	Dec 31, 2018	1,998	7,575	-5,577	0.13×	4.61%	-1.88×	0.43×	28.49×	1.27×	1,196	1,177	-2.16%	595
FY 2018 Q3	Sep 30, 2018	—	8,147	—	—	—	—	—	39.98×	1.28×	1,199	1,181	-1.75%	600
FY 2018 Q2	Jun 30, 2018	—	2,840	—	—	—	—	—	59.3×	1.38×	1,202	1,187	-1.25%	500
FY 2018 Q1	Mar 31, 2018	—	2,879	—	—	—	—	—	—	1.35×	1,217	1,192	-0.91%	1,825
FY 2017 Q4	Dec 31, 2017	—	2,883	—	—	—	—	—	303.86×	1.43×	1,228	1,203	-0.33%	4,999
FY 2017 Q3	Sep 30, 2017	—	2,330	—	—	—	—	—	—	1.42×	1,223	1,202	-0.41%	100
FY 2017 Q2	Jun 30, 2017	—	1,271	—	—	—	—	—	—	1.45×	1,215	1,202	-0.66%	89
FY 2017 Q1	Mar 31, 2017	—	1,240	—	—	—	—	—	—	1.47×	1,216	1,203	-1.07%	517
FY 2016 Q4	Dec 31, 2016	—	1,590	—	—	—	—	—	528.67×	1.52×	1,216	1,207	-1.31%	1,005
FY 2016 Q3	Sep 30, 2016	—	1,369	—	—	—	—	—	—	1.55×	1,214	1,207	-1.15%	49
FY 2016 Q2	Jun 30, 2016	—	2,018	—	—	—	—	—	—	1.54×	1,215	1,210	-0.66%	300
FY 2016 Q1	Mar 31, 2016	—	2,583	—	—	—	—	—	—	1.53×	1,225	1,216	—	596
FY 2015 Q4	Dec 31, 2015	—	1,393	—	—	—	—	—	—	1.52×	1,230	1,223	—	0
FY 2015 Q3	Sep 30, 2015	—	1,880	—	—	—	—	—	—	1.57×	1,227	1,221	—	0
FY 2015 Q2	Jun 30, 2015	—	2,562	—	—	—	—	—	—	1.57×	1,224	1,218	—	0

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · PYPL, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.