PayPal Holdings (PYPL) Financials & Stock Analysis

PayPal Holdings

NASDAQ: PYPL · USD

Revenue

USD millions

$8,682M

PayPal Holdings Revenue. Quarterly values and changes versus the preceding comparable period. Missing values are unavailable.
Period	Revenue
FY 2015 Q2	$2,297M; Change unavailable vs FY 2015 Q1
FY 2015 Q3	$2,258M; −1.7% vs FY 2015 Q2
FY 2015 Q4	$2,556M; +13.2% vs FY 2015 Q3
FY 2016 Q1	$2,544M; −0.5% vs FY 2015 Q4
FY 2016 Q2	$2,650M; +4.2% vs FY 2016 Q1
FY 2016 Q3	$2,667M; +0.6% vs FY 2016 Q2
FY 2016 Q4	$2,981M; +11.8% vs FY 2016 Q3
FY 2017 Q1	$2,975M; −0.2% vs FY 2016 Q4
FY 2017 Q2	$3,136M; +5.4% vs FY 2017 Q1
FY 2017 Q3	$3,239M; +3.3% vs FY 2017 Q2
FY 2017 Q4	$3,744M; +15.6% vs FY 2017 Q3
FY 2018 Q1	$3,685M; −1.6% vs FY 2017 Q4
FY 2018 Q2	$3,857M; +4.7% vs FY 2018 Q1
FY 2018 Q3	$3,683M; −4.5% vs FY 2018 Q2
FY 2018 Q4	$4,226M; +14.7% vs FY 2018 Q3
FY 2019 Q1	$4,128M; −2.3% vs FY 2018 Q4
FY 2019 Q2	$4,305M; +4.3% vs FY 2019 Q1
FY 2019 Q3	$4,378M; +1.7% vs FY 2019 Q2
FY 2019 Q4	$4,961M; +13.3% vs FY 2019 Q3
FY 2020 Q1	$4,618M; −6.9% vs FY 2019 Q4
FY 2020 Q2	$5,261M; +13.9% vs FY 2020 Q1
FY 2020 Q3	$5,459M; +3.8% vs FY 2020 Q2
FY 2020 Q4	$6,116M; +12.0% vs FY 2020 Q3
FY 2021 Q1	$6,033M; −1.4% vs FY 2020 Q4
FY 2021 Q2	$6,238M; +3.4% vs FY 2021 Q1
FY 2021 Q3	$6,182M; −0.9% vs FY 2021 Q2
FY 2021 Q4	$6,918M; +11.9% vs FY 2021 Q3
FY 2022 Q1	$6,483M; −6.3% vs FY 2021 Q4
FY 2022 Q2	$6,806M; +5.0% vs FY 2022 Q1
FY 2022 Q3	$6,846M; +0.6% vs FY 2022 Q2
FY 2022 Q4	$7,383M; +7.8% vs FY 2022 Q3
FY 2023 Q1	$7,040M; −4.6% vs FY 2022 Q4
FY 2023 Q2	$7,287M; +3.5% vs FY 2023 Q1
FY 2023 Q3	$7,418M; +1.8% vs FY 2023 Q2
FY 2023 Q4	$8,026M; +8.2% vs FY 2023 Q3
FY 2024 Q1	$7,699M; −4.1% vs FY 2023 Q4
FY 2024 Q2	$7,885M; +2.4% vs FY 2024 Q1
FY 2024 Q3	$7,847M; −0.5% vs FY 2024 Q2
FY 2024 Q4	$8,366M; +6.6% vs FY 2024 Q3
FY 2025 Q1	$7,791M; −6.9% vs FY 2024 Q4
FY 2025 Q2	$8,288M; +6.4% vs FY 2025 Q1
FY 2025 Q3	$8,417M; +1.6% vs FY 2025 Q2
FY 2025 Q4	$8,676M; +3.1% vs FY 2025 Q3
FY 2026 Q1	$8,353M; −3.7% vs FY 2025 Q4
FY 2026 Q2	$8,682M; +3.9% vs FY 2026 Q1

Free cash flow

USD millions

$1,775M

PayPal Holdings Free cash flow. Quarterly values and changes versus the preceding comparable period. Missing values are unavailable.
Period	Free cash flow
FY 2015 Q2	$391M; Change unavailable vs FY 2015 Q1
FY 2015 Q3	$519M; +32.7% vs FY 2015 Q2
FY 2015 Q4	$564M; +8.7% vs FY 2015 Q3
FY 2016 Q1	$605M; +7.3% vs FY 2015 Q4
FY 2016 Q2	$495M; −18.2% vs FY 2016 Q1
FY 2016 Q3	$618M; +24.8% vs FY 2016 Q2
FY 2016 Q4	$771M; +24.8% vs FY 2016 Q3
FY 2017 Q1	$603M; −21.8% vs FY 2016 Q4
FY 2017 Q2	$747M; +23.9% vs FY 2017 Q1
FY 2017 Q3	$841M; +12.6% vs FY 2017 Q2
FY 2017 Q4	$-327M; −138.9% vs FY 2017 Q3
FY 2018 Q1	$-527M; −61.2% vs FY 2017 Q4
FY 2018 Q2	$-170M; +67.7% vs FY 2018 Q1
FY 2018 Q3	$4,447M; +2715.9% vs FY 2018 Q2
FY 2018 Q4	$910M; −79.5% vs FY 2018 Q3
FY 2019 Q1	$809M; −11.1% vs FY 2018 Q4
FY 2019 Q2	$1,035M; +27.9% vs FY 2019 Q1
FY 2019 Q3	$923M; −10.8% vs FY 2019 Q2
FY 2019 Q4	$1,090M; +18.1% vs FY 2019 Q3
FY 2020 Q1	$1,298M; +19.1% vs FY 2019 Q4
FY 2020 Q2	$2,190M; +68.7% vs FY 2020 Q1
FY 2020 Q3	$479M; −78.1% vs FY 2020 Q2
FY 2020 Q4	$1,021M; +113.2% vs FY 2020 Q3
FY 2021 Q1	$1,537M; +50.5% vs FY 2020 Q4
FY 2021 Q2	$1,059M; −31.1% vs FY 2021 Q1
FY 2021 Q3	$1,286M; +21.4% vs FY 2021 Q2
FY 2021 Q4	$1,550M; +20.5% vs FY 2021 Q3
FY 2022 Q1	$1,051M; −32.2% vs FY 2021 Q4
FY 2022 Q2	$1,291M; +22.8% vs FY 2022 Q1
FY 2022 Q3	$1,766M; +36.8% vs FY 2022 Q2
FY 2022 Q4	$999M; −43.4% vs FY 2022 Q3
FY 2023 Q1	$1,000M; +0.1% vs FY 2022 Q4
FY 2023 Q2	$-350M; −135.0% vs FY 2023 Q1
FY 2023 Q3	$1,101M; +414.6% vs FY 2023 Q2
FY 2023 Q4	$2,469M; +124.3% vs FY 2023 Q3
FY 2024 Q1	$1,763M; −28.6% vs FY 2023 Q4
FY 2024 Q2	$1,368M; −22.4% vs FY 2024 Q1
FY 2024 Q3	$1,445M; +5.6% vs FY 2024 Q2
FY 2024 Q4	$2,191M; +51.6% vs FY 2024 Q3
FY 2025 Q1	$964M; −56.0% vs FY 2024 Q4
FY 2025 Q2	$692M; −28.2% vs FY 2025 Q1
FY 2025 Q3	$1,718M; +148.3% vs FY 2025 Q2
FY 2025 Q4	$2,190M; +27.5% vs FY 2025 Q3
FY 2026 Q1	$903M; −58.8% vs FY 2025 Q4
FY 2026 Q2	$1,775M; +96.6% vs FY 2026 Q1

Net margin

12.72%

PayPal Holdings Net margin. Reported fiscal history.
Fiscal period	%
FY 2015 Q2	13.28%
FY 2015 Q3	13.33%
FY 2015 Q4	14.36%
FY 2016 Q1	14.35%
FY 2016 Q2	12.19%
FY 2016 Q3	12.11%
FY 2016 Q4	13.08%
FY 2017 Q1	12.91%
FY 2017 Q2	13.11%
FY 2017 Q3	11.73%
FY 2017 Q4	16.56%
FY 2018 Q1	13.87%
FY 2018 Q2	13.64%
FY 2018 Q3	11.84%
FY 2018 Q4	13.82%
FY 2019 Q1	16.16%
FY 2019 Q2	19.12%
FY 2019 Q3	10.55%
FY 2019 Q4	10.22%
FY 2020 Q1	1.82%
FY 2020 Q2	29.08%
FY 2020 Q3	18.7%
FY 2020 Q4	25.62%
FY 2021 Q1	18.18%
FY 2021 Q2	18.98%
FY 2021 Q3	17.58%
FY 2021 Q4	11.58%
FY 2022 Q1	7.85%
FY 2022 Q2	-5.01%
FY 2022 Q3	19.43%
FY 2022 Q4	12.47%
FY 2023 Q1	11.29%
FY 2023 Q2	14.12%
FY 2023 Q3	13.75%
FY 2023 Q4	17.47%
FY 2024 Q1	11.53%
FY 2024 Q2	14.31%
FY 2024 Q3	12.87%
FY 2024 Q4	13.4%
FY 2025 Q1	16.52%
FY 2025 Q2	15.21%
FY 2025 Q3	14.83%
FY 2025 Q4	16.56%
FY 2026 Q1	13.32%
FY 2026 Q2	12.72%

P/E

× · TTM · Daily

9.9×

PayPal Holdings P/E. Monthly closing observations; inspect daily values with the chart arrow keys.
Close date	× · TTM · Daily	Financials through
2016-02-29	38.2×	2015-12-31
2016-03-31	38.66×	2015-12-31
2016-04-29	39.24×	2015-12-31
2016-05-31	37.85×	2015-12-31
2016-06-30	36.57×	2015-12-31
2016-07-29	37.3×	2015-12-31
2016-08-31	37.21×	2015-12-31
2016-09-30	41.04×	2015-12-31
2016-10-31	36.7×	2016-09-30
2016-11-30	34.61×	2016-09-30
2016-12-30	34.77×	2016-09-30
2017-01-31	35.05×	2016-09-30
2017-02-28	36.45×	2016-12-31
2017-03-31	37.34×	2016-12-31
2017-04-28	40.86×	2017-03-31
2017-05-31	44.71×	2017-03-31
2017-06-30	45.96×	2017-03-31
2017-07-31	47.17×	2017-06-30
2017-08-31	49.7×	2017-06-30
2017-09-29	51.59×	2017-06-30
2017-10-31	56.7×	2017-09-30
2017-11-30	59.18×	2017-09-30
2017-12-29	57.53×	2017-09-30
2018-01-31	66.67×	2017-09-30
2018-02-28	54.33×	2017-12-31
2018-03-29	51.9×	2017-12-31
2018-04-30	47.24×	2018-03-31
2018-05-31	51.97×	2018-03-31
2018-06-29	52.73×	2018-03-31
2018-07-31	48.47×	2018-06-30
2018-08-31	54.48×	2018-06-30
2018-09-28	51.83×	2018-06-30
2018-10-31	48.23×	2018-09-30
2018-11-30	49.16×	2018-09-30
2018-12-31	48.17×	2018-09-30
2019-01-31	50.85×	2018-09-30
2019-02-28	56.18×	2018-09-30
2019-03-29	59.49×	2018-09-30
2019-04-30	60.54×	2019-03-31
2019-05-31	58.92×	2019-03-31
2019-06-28	61.45×	2019-03-31
2019-07-31	52.21×	2019-06-30
2019-08-30	51.57×	2019-06-30
2019-09-30	48.99×	2019-06-30
2019-10-31	48.77×	2019-09-30
2019-11-29	50.6×	2019-09-30
2019-12-31	50.67×	2019-09-30
2020-01-31	53.35×	2019-09-30
2020-02-28	52.13×	2019-12-31
2020-03-31	46.22×	2019-12-31
2020-04-30	59.37×	2019-12-31
2020-05-29	97.91×	2020-03-31
2020-06-30	110.05×	2020-03-31
2020-07-31	89.87×	2020-06-30
2020-08-31	93.57×	2020-06-30
2020-09-30	90.31×	2020-06-30
2020-10-30	85.32×	2020-06-30
2020-11-30	81.1×	2020-09-30
2020-12-31	88.7×	2020-09-30
2021-01-29	88.74×	2020-09-30
2021-02-26	73.65×	2020-12-31
2021-03-31	68.83×	2020-12-31
2021-04-30	74.34×	2020-12-31
2021-05-28	59.33×	2021-03-31
2021-06-30	66.51×	2021-03-31
2021-07-30	67.11×	2021-06-30
2021-08-31	70.31×	2021-06-30
2021-09-30	63.38×	2021-06-30
2021-10-29	56.65×	2021-06-30
2021-11-30	44.47×	2021-09-30
2021-12-31	45.36×	2021-09-30
2022-01-31	41.36×	2021-09-30
2022-02-28	31.76×	2021-12-31
2022-03-31	32.82×	2021-12-31
2022-04-29	28.78×	2022-03-31
2022-05-31	27.89×	2022-03-31
2022-06-30	22.86×	2022-03-31
2022-07-29	28.32×	2022-03-31
2022-08-31	52.63×	2022-06-30
2022-09-30	48.48×	2022-06-30
2022-10-31	47.07×	2022-06-30
2022-11-30	39.46×	2022-09-30
2022-12-30	35.84×	2022-09-30
2023-01-31	41.01×	2022-09-30
2023-02-28	34.78×	2022-12-31
2023-03-31	35.89×	2022-12-31
2023-04-28	35.92×	2022-12-31
2023-05-31	25.99×	2023-03-31
2023-06-30	27.97×	2023-03-31
2023-07-31	31.79×	2023-03-31
2023-08-31	17.09×	2023-06-30
2023-09-29	15.98×	2023-06-30
2023-10-31	14.16×	2023-06-30
2023-11-30	16.8×	2023-09-30
2023-12-29	17.91×	2023-09-30
2024-01-31	17.89×	2023-09-30
2024-02-29	15.39×	2023-12-31
2024-03-28	17.09×	2023-12-31
2024-04-30	17.33×	2023-12-31
2024-05-31	15.56×	2024-03-31
2024-06-28	14.34×	2024-03-31
2024-07-31	15.52×	2024-06-30
2024-08-30	17.09×	2024-06-30
2024-09-30	18.41×	2024-06-30
2024-10-31	18.34×	2024-09-30
2024-11-29	20.07×	2024-09-30
2024-12-31	19.74×	2024-09-30
2025-01-31	20.48×	2024-09-30
2025-02-28	16.43×	2024-09-30
2025-03-31	15.09×	2024-09-30
2025-04-30	15.23×	2024-09-30
2025-05-30	16.25×	2024-09-30
2025-06-30	17.19×	2024-09-30
2025-07-31	15.9×	2024-09-30
2025-08-29	16.23×	2024-09-30
2025-09-30	15.51×	2024-09-30
2025-10-31	16.02×	2024-09-30
2025-11-28	14.5×	2024-09-30
2025-12-31	13.5×	2024-09-30
2026-01-30	12.18×	2024-09-30
2026-02-27	9.02×	2025-09-30
2026-03-31	8.83×	2025-09-30
2026-04-30	9.79×	2025-09-30
2026-05-29	8.14×	2026-03-31
2026-06-30	7.85×	2026-03-31
2026-07-31	10.29×	2026-06-30
2026-08-31	9.48×	2026-06-30
2026-09-25	9.9×	2026-06-30

ROIC

% · Annual / TTM

—

PayPal Holdings ROIC. Reported fiscal history.
Fiscal period	% · Annual / TTM
FY 2015 Q2	—
FY 2015 Q3	—
FY 2015 Q4	—
FY 2016 Q1	—
FY 2016 Q2	—
FY 2016 Q3	—
FY 2016 Q4	—
FY 2017 Q1	—
FY 2017 Q2	—
FY 2017 Q3	—
FY 2017 Q4	—
FY 2018 Q1	—
FY 2018 Q2	—
FY 2018 Q3	—
FY 2018 Q4	—
FY 2019 Q1	—
FY 2019 Q2	—
FY 2019 Q3	—
FY 2019 Q4	18.31%
FY 2020 Q1	—
FY 2020 Q2	—
FY 2020 Q3	—
FY 2020 Q4	—
FY 2021 Q1	—
FY 2021 Q2	—
FY 2021 Q3	—
FY 2021 Q4	—
FY 2022 Q1	—
FY 2022 Q2	—
FY 2022 Q3	—
FY 2022 Q4	—
FY 2023 Q1	—
FY 2023 Q2	—
FY 2023 Q3	—
FY 2023 Q4	—
FY 2024 Q1	—
FY 2024 Q2	—
FY 2024 Q3	—
FY 2024 Q4	—
FY 2025 Q1	—
FY 2025 Q2	—
FY 2025 Q3	—
FY 2025 Q4	—
FY 2026 Q1	—
FY 2026 Q2	—

Capital allocation

% of tracked cash uses

$1,882M

PayPal Holdings capital allocation. Quarterly values. Missing values are unavailable.
Period	Capex	Acquisitions	Buybacks	Dividends	Debt repayments	Tracked uses
FY 2015 Q2	45.83% · $231M	54.17% · $273M	0% · $0M	Unavailable	Unavailable	100% · $504M
FY 2015 Q3	93.01% · $133M	6.99% · $10M	0% · $0M	Unavailable	Unavailable	100% · $143M
FY 2015 Q4	14.83% · $164M	85.17% · $942M	0% · $0M	Unavailable	Unavailable	100% · $1,106M
FY 2016 Q1	17.78% · $133M	2.54% · $19M	79.68% · $596M	Unavailable	Unavailable	100% · $748M
FY 2016 Q2	40.12% · $201M	0% · $0M	59.88% · $300M	Unavailable	Unavailable	100% · $501M
FY 2016 Q3	78.88% · $183M	0% · $0M	21.12% · $49M	Unavailable	Unavailable	100% · $232M
FY 2016 Q4	13.14% · $152M	0% · $0M	86.86% · $1,005M	Unavailable	Unavailable	100% · $1,157M
FY 2017 Q1	22.26% · $148M	0% · $0M	77.74% · $517M	Unavailable	Unavailable	100% · $665M
FY 2017 Q2	66.16% · $174M	0% · $0M	33.84% · $89M	Unavailable	Unavailable	100% · $263M
FY 2017 Q3	28.06% · $165M	54.93% · $323M	17.01% · $100M	Unavailable	Unavailable	100% · $588M
FY 2017 Q4	3.01% · $180M	0% · $0M	83.61% · $4,999M	Unavailable	13.38% · $800M	100% · $5,979M
FY 2018 Q1	8.89% · $178M	Unavailable	91.11% · $1,825M	Unavailable	Unavailable	100% · $2,003M
FY 2018 Q2	28.37% · $198M	Unavailable	71.63% · $500M	Unavailable	Unavailable	100% · $698M
FY 2018 Q3	7.51% · $223M	71.43% · $2,120M	20.22% · $600M	Unavailable	0.84% · $25M	100% · $2,968M
FY 2018 Q4	26.89% · $224M	Unavailable	71.43% · $595M	Unavailable	1.68% · $14M	100% · $833M
FY 2019 Q1	22.38% · $218M	0% · $0M	77.62% · $756M	Unavailable	Unavailable	100% · $974M
FY 2019 Q2	100% · $139M	0% · $0M	0% · $0M	Unavailable	Unavailable	100% · $139M
FY 2019 Q3	5.71% · $173M	0% · $0M	11.54% · $350M	Unavailable	82.75% · $2,509M	100% · $3,032M
FY 2019 Q4	31.29% · $174M	12.59% · $70M	54.86% · $305M	Unavailable	1.26% · $7M	100% · $556M
FY 2020 Q1	4.46% · $206M	78.22% · $3,612M	17.32% · $800M	Unavailable	Unavailable	100% · $4,618M
FY 2020 Q2	49.11% · $193M	0% · $0M	50.89% · $200M	Unavailable	Unavailable	100% · $393M
FY 2020 Q3	39.44% · $241M	Unavailable	60.56% · $370M	Unavailable	0% · $0M	100% · $611M
FY 2020 Q4	46.03% · $226M	0% · $0M	53.97% · $265M	Unavailable	0% · $0M	100% · $491M
FY 2021 Q1	14.31% · $221M	0% · $0M	85.69% · $1,323M	Unavailable	0% · $0M	100% · $1,544M
FY 2021 Q2	26.97% · $247M	51.2% · $469M	21.83% · $200M	Unavailable	0% · $0M	100% · $916M
FY 2021 Q3	39.34% · $227M	0% · $0M	60.66% · $350M	Unavailable	0% · $0M	100% · $577M
FY 2021 Q4	4.88% · $213M	52.52% · $2,294M	34.34% · $1,500M	Unavailable	8.26% · $361M	100% · $4,368M
FY 2022 Q1	10.64% · $191M	Unavailable	83.57% · $1,500M	Unavailable	5.79% · $104M	100% · $1,795M
FY 2022 Q2	6.98% · $175M	Unavailable	29.92% · $750M	Unavailable	63.1% · $1,582M	100% · $2,507M
FY 2022 Q3	16.24% · $182M	0% · $0M	83.76% · $939M	Unavailable	0% · $0M	100% · $1,121M
FY 2022 Q4	13.53% · $158M	0% · $0M	86.47% · $1,010M	Unavailable	0% · $0M	100% · $1,168M
FY 2023 Q1	10.58% · $170M	Unavailable	89.11% · $1,432M	Unavailable	0.31% · $5M	100% · $1,607M
FY 2023 Q2	5.73% · $150M	Unavailable	58.45% · $1,529M	Unavailable	35.82% · $937M	100% · $2,616M
FY 2023 Q3	9.92% · $158M	Unavailable	90.08% · $1,434M	Unavailable	0% · $0M	100% · $1,592M
FY 2023 Q4	16.8% · $145M	Unavailable	70.34% · $607M	Unavailable	12.86% · $111M	100% · $863M
FY 2024 Q1	7.65% · $154M	Unavailable	74.53% · $1,501M	Unavailable	17.83% · $359M	100% · $2,014M
FY 2024 Q2	9.18% · $157M	Unavailable	87.78% · $1,501M	Unavailable	3.04% · $52M	100% · $1,710M
FY 2024 Q3	8.69% · $169M	Unavailable	91.31% · $1,776M	Unavailable	0% · $0M	100% · $1,945M
FY 2024 Q4	7.46% · $203M	Unavailable	46.62% · $1,269M	Unavailable	45.92% · $1,250M	100% · $2,722M
FY 2025 Q1	11.56% · $196M	0% · $0M	88.44% · $1,500M	0% · $0M	0% · $0M	100% · $1,696M
FY 2025 Q2	6.95% · $206M	0% · $0M	52.33% · $1,551M	0% · $0M	40.72% · $1,207M	100% · $2,964M
FY 2025 Q3	10.23% · $256M	Unavailable	59.93% · $1,500M	Unavailable	29.84% · $747M	100% · $2,503M
FY 2025 Q4	10.23% · $194M	Unavailable	79.17% · $1,501M	Unavailable	10.6% · $201M	100% · $1,896M
FY 2026 Q1	7.92% · $231M	4.19% · $122M	51.46% · $1,500M	4.46% · $130M	31.97% · $932M	100% · $2,915M
FY 2026 Q2	11.05% · $208M	0% · $0M	82.47% · $1,552M	6.48% · $122M	Unavailable	100% · $1,882M

Sources and calculations

Company filings · USD · Last checked 2026-10-18. Missing inputs remain unavailable. Your chart selection and layout are saved in this browser for PayPal Holdings.

All charts share the selected dates. Quarterly/Yearly changes fiscal charts; valuation keeps completed daily closes on a published TTM basis. Later restatements can delay that basis. Historical mean, median and pricing labels use the selected range and do not estimate intrinsic fair value.

SBC deduction is an optional economic-cost scenario for FCF-based metrics. Missing SBC never becomes zero.

Revenue: Reported revenue from company filings.
Free cash flow: Operating cash flow − reported cash capital investment. PPE purchases are preferred; the productive-assets fallback also includes software and intangibles. Reflects the SBC option and can differ from issuer-defined FCF.
Net margin: Reported net income / revenue × 100.
P/E: Completed closing price × diluted shares / TTM earnings attributable to common shareholders.
ROIC: NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
Capital allocation: Reported cash uses as a percentage of tracked uses. Missing categories remain unavailable; SBC is noncash and excluded.

Reported revenue and sources

PayPal Holdings financials