P

PayPal Holdings, Inc.

PYPL · CIK 0001633917

13 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$33.17B4.3%
FY2025
Net income (FY)
$5.23B26.2%
FY2025
Free cash flow (FY)
$5.56B17.8%
FY2025
Diluted EPS (FY)
$5.4135.6%
FY2025
The story, charted

The shape of the business

FY2013–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$10B$20B$30BFY2013 · Revenue $6.73B · Net income $955.0M · 0001633917-16-000113 · filed 2016-02-11FY13Revenue $6.73BNet income $955.0M0001633917-16-000113 · filed 2016-02-11FY2014 · Revenue $8.03B · Net income $419.0M · 0001633917-17-000027 · filed 2017-02-08FY14Revenue $8.03BNet income $419.0M0001633917-17-000027 · filed 2017-02-08FY2015 · Revenue $9.25B · Net income $1.23B · 0001633917-18-000029 · filed 2018-02-07FY15Revenue $9.25BNet income $1.23B0001633917-18-000029 · filed 2018-02-07FY2016 · Revenue $10.84B · Net income $1.40B · 0001633917-19-000043 · filed 2019-02-07FY16Revenue $10.84BNet income $1.40B0001633917-19-000043 · filed 2019-02-07FY2017 · Revenue $13.09B · Net income $1.79B · 0001633917-20-000028 · filed 2020-02-06FY17Revenue $13.09BNet income $1.79B0001633917-20-000028 · filed 2020-02-06FY2018 · Revenue $15.45B · Net income $2.06B · 0001633917-20-000028 · filed 2020-02-06 · 0001633917-21-000018 · filed 2021-02-05FY18Revenue $15.45BNet income $2.06B0001633917-20-000028 · filed 2020-02-06 · 0001633917-21-000018 · filed 2021-02-05FY2019 · Revenue $17.77B · Net income $2.46B · 0001633917-20-000028 · filed 2020-02-06 · 0001633917-22-000027 · filed 2022-02-03FY19Revenue $17.77BNet income $2.46B0001633917-20-000028 · filed 2020-02-06 · 0001633917-22-000027 · filed 2022-02-03FY2020 · Revenue $21.45B · Net income $4.20B · 0001633917-23-000033 · filed 2023-02-10FY20Revenue $21.45BNet income $4.20B0001633917-23-000033 · filed 2023-02-10FY2021 · Revenue $25.37B · Net income $4.17B · 0001633917-24-000024 · filed 2024-02-08FY21Revenue $25.37BNet income $4.17B0001633917-24-000024 · filed 2024-02-08FY2022 · Revenue $27.52B · Net income $2.42B · 0001633917-25-000019 · filed 2025-02-04FY22Revenue $27.52BNet income $2.42B0001633917-25-000019 · filed 2025-02-04FY2023 · Revenue $29.77B · Net income $4.25B · 0001633917-26-000024 · filed 2026-02-03FY23Revenue $29.77BNet income $4.25B0001633917-26-000024 · filed 2026-02-03FY2024 · Revenue $31.80B · Net income $4.15B · 0001633917-26-000024 · filed 2026-02-03FY24Revenue $31.80BNet income $4.15B0001633917-26-000024 · filed 2026-02-03FY2025 · Revenue $33.17B · Net income $5.23B · 0001633917-26-000024 · filed 2026-02-03FY25Revenue $33.17BNet income $5.23B0001633917-26-000024 · filed 2026-02-03FY25Revenue $33.17BNet income $5.23B0001633917-26-000024 · filed 2026-02-03FY13FY15FY17FY19FY21FY23FY25

revenue 4.9× since FY2013 · net margin 14.2% → 15.8%

MarginsNet marginFCF margin
0%10%20%30%FY2013 · Net margin 14.2% · FCF margin 23.8%FY13Net margin 14.2%FCF margin 23.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 5.2% · FCF margin 21.5%FY14Net margin 5.2%FCF margin 21.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 13.3% · FCF margin 19.7%FY15Net margin 13.3%FCF margin 19.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 12.9% · FCF margin 23.0%FY16Net margin 12.9%FCF margin 23.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 13.7% · FCF margin 14.2%FY17Net margin 13.7%FCF margin 14.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 13.3% · FCF margin 30.1%FY18Net margin 13.3%FCF margin 30.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 13.8% · FCF margin 18.9%FY19Net margin 13.8%FCF margin 18.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 19.6% · FCF margin 25.0%FY20Net margin 19.6%FCF margin 25.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 16.4% · FCF margin 19.3%FY21Net margin 16.4%FCF margin 19.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 8.8% · FCF margin 18.6%FY22Net margin 8.8%FCF margin 18.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 14.3% · FCF margin 14.2%FY23Net margin 14.3%FCF margin 14.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 13.0% · FCF margin 21.3%FY24Net margin 13.0%FCF margin 21.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 15.8% · FCF margin 16.8%FY25Net margin 15.8%FCF margin 16.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 15.8%FCF margin 16.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’13’16’19’22’25

FY2025: net 15.8% · free cash flow 16.8% of revenue

Cash engineOperating cash flowFree cash flow
$0$5BFY2013 · OCF $1.99B · FCF $1.60B · 0001633917-16-000113 · filed 2016-02-11FY13OCF $1.99BFCF $1.60B0001633917-16-000113 · filed 2016-02-11FY2014 · OCF $2.22B · FCF $1.73B · 0001633917-17-000027 · filed 2017-02-08FY14OCF $2.22BFCF $1.73B0001633917-17-000027 · filed 2017-02-08FY2015 · OCF $2.55B · FCF $1.82B · 0001633917-18-000029 · filed 2018-02-07FY15OCF $2.55BFCF $1.82B0001633917-18-000029 · filed 2018-02-07FY2016 · OCF $3.16B · FCF $2.49B · 0001633917-19-000043 · filed 2019-02-07FY16OCF $3.16BFCF $2.49B0001633917-19-000043 · filed 2019-02-07FY2017 · OCF $2.53B · FCF $1.86B · 0001633917-20-000028 · filed 2020-02-06FY17OCF $2.53BFCF $1.86B0001633917-20-000028 · filed 2020-02-06FY2018 · OCF $5.48B · FCF $4.66B · 0001633917-21-000018 · filed 2021-02-05FY18OCF $5.48BFCF $4.66B0001633917-21-000018 · filed 2021-02-05FY2019 · OCF $4.07B · FCF $3.37B · 0001633917-22-000027 · filed 2022-02-03FY19OCF $4.07BFCF $3.37B0001633917-22-000027 · filed 2022-02-03FY2020 · OCF $6.22B · FCF $5.35B · 0001633917-23-000033 · filed 2023-02-10FY20OCF $6.22BFCF $5.35B0001633917-23-000033 · filed 2023-02-10FY2021 · OCF $5.80B · FCF $4.89B · 0001633917-24-000024 · filed 2024-02-08FY21OCF $5.80BFCF $4.89B0001633917-24-000024 · filed 2024-02-08FY2022 · OCF $5.81B · FCF $5.11B · 0001633917-25-000019 · filed 2025-02-04FY22OCF $5.81BFCF $5.11B0001633917-25-000019 · filed 2025-02-04FY2023 · OCF $4.84B · FCF $4.22B · 0001633917-26-000024 · filed 2026-02-03FY23OCF $4.84BFCF $4.22B0001633917-26-000024 · filed 2026-02-03FY2024 · OCF $7.45B · FCF $6.77B · 0001633917-26-000024 · filed 2026-02-03FY24OCF $7.45BFCF $6.77B0001633917-26-000024 · filed 2026-02-03FY2025 · OCF $6.42B · FCF $5.56B · 0001633917-26-000024 · filed 2026-02-03FY25OCF $6.42BFCF $5.56B0001633917-26-000024 · filed 2026-02-03FY25OCF $6.42BFCF $5.56B0001633917-26-000024 · filed 2026-02-03’13’16’19’22’25

FY2025: $6.42B operating cash − $852.0M capex = $5.56B free cash flow

Returns on capitalReturn on equityReturn on assets
0%10%20%FY2014 · ROE 5.1% · ROA 1.9%FY14ROE 5.1%ROA 1.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 8.9% · ROA 4.3%FY15ROE 8.9%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 9.5% · ROA 4.2%FY16ROE 9.5%ROA 4.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 11.2% · ROA 4.4%FY17ROE 11.2%ROA 4.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 13.4% · ROA 4.7%FY18ROE 13.4%ROA 4.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 14.6% · ROA 4.8%FY19ROE 14.6%ROA 4.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 21.0% · ROA 6.0%FY20ROE 21.0%ROA 6.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 19.2% · ROA 5.5%FY21ROE 19.2%ROA 5.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 11.9% · ROA 3.1%FY22ROE 11.9%ROA 3.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 20.2% · ROA 5.2%FY23ROE 20.2%ROA 5.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 20.3% · ROA 5.3%FY24ROE 20.3%ROA 5.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 25.8% · ROA 6.5%FY25ROE 25.8%ROA 6.5%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 25.8%ROA 6.5%derived: net income ÷ equity · derived: net income ÷ assets’16’19’22’25

return on equity 5% (FY2014) → 26% (FY2025) · on assets 6.5%

Balance sheetLiabilitiesEquity
$0$50BFY2014 · Liabilities $13.67B · Equity $8.25BFY14Liabilities $13.67BEquity $8.25B0001633917-16-000113 · filed 2016-02-11FY2015 · Liabilities $15.12B · Equity $13.76BFY15Liabilities $15.12BEquity $13.76B0001633917-17-000027 · filed 2017-02-08FY2016 · Liabilities $18.39B · Equity $14.71BFY16Liabilities $18.39BEquity $14.71B0001633917-18-000029 · filed 2018-02-07FY2017 · Liabilities $24.78B · Equity $15.99BFY17Liabilities $24.78BEquity $15.99B0001633917-19-000043 · filed 2019-02-07FY2018 · Liabilities $27.95B · Equity $15.39BFY18Liabilities $27.95BEquity $15.39B0001633917-20-000028 · filed 2020-02-06FY2019 · Liabilities $34.40B · Equity $16.89BFY19Liabilities $34.40BEquity $16.89B0001633917-21-000018 · filed 2021-02-05FY2020 · Liabilities $50.32B · Equity $20.02BFY20Liabilities $50.32BEquity $20.02B0001633917-22-000027 · filed 2022-02-03FY2021 · Liabilities $54.08B · Equity $21.73BFY21Liabilities $54.08BEquity $21.73B0001633917-23-000033 · filed 2023-02-10FY2022 · Liabilities $58.35B · Equity $20.27BFY22Liabilities $58.35BEquity $20.27B0001633917-24-000024 · filed 2024-02-08FY2023 · Liabilities $61.12B · Equity $21.05BFY23Liabilities $61.12BEquity $21.05B0001633917-25-000019 · filed 2025-02-04FY2024 · Liabilities $58.31B · Equity $20.42BFY24Liabilities $58.31BEquity $20.42B0001633917-26-000024 · filed 2026-02-03FY2025 · Liabilities $59.92B · Equity $20.26BFY25Liabilities $59.92BEquity $20.26B0001633917-26-000024 · filed 2026-02-03FY25Liabilities $59.92BEquity $20.26B0001633917-26-000024 · filed 2026-02-03’16’19’22’25

FY2025: $80.17B assets · $59.92B liabilities · $20.26B equity

The receipts