PayPal Holdings, Inc.PYPL
NasdaqGS•Financial Services•Credit Services
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.
PayPal Holdings, Inc. (PYPL) reported trailing twelve months revenue of $33.73B as of March 2026, a 5.8% increase year-over-year. Quarterly revenue reached $8.35B, reflecting continued top-line momentum.
PayPal Holdings, Inc. generated $5.06B in TTM net income, with quarterly EBITDA of $1.73B. The operating margin contracted from 19.6% to 17.8%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (17.8%) and net margin (13.3%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 16.5% a year ago, reflecting increased costs or interest expense.
PYPL trades at a P/E of 8.1x (below the broader market average) and a P/S of 1.2x. The price-to-book ratio of 2.0x reflects a moderate premium to book value.
The company generated $903.00M in free cash flow over the trailing twelve months, a 6.3% decrease year-over-year, indicating cash generation ability. The balance sheet shows $80.55B in total assets with $9.41B in long-term debt against $20.02B in stockholders equity for a debt-to-equity ratio of 0.5, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~17.9%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 23.1% suggests a durable competitive advantage and efficient capital allocation.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~8.7% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~17.9% — no sign of cost or pricing stress.
FCF covers net income by 1.2x on average — earnings are well-supported by cash generation.
D/E ratio is 0.5 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 12.4% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation