PYPL financial statements

The full income statement, balance sheet, and cash-flow statement for PayPal Holdings Inc. (PYPL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-03 1.05B2024-06 1.02B2024-09 1.00B2024-12 989.2M2025-03 972.5M2025-06 955.4M2025-09 935.7M2025-12 920.7M2026-03 882.1M-15.7% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	33.2B YoY+4.3%	31.8B YoY+6.8%	29.8B YoY+8.2%	27.5B YoY+8.5%	25.4B YoY+18.3%
	27.1B YoY+2.4%	26.5B YoY+7.0%	24.7B YoY+4.5%	23.7B YoY+12.2%	21.1B YoY+16.2%
Selling, general & administrative	1.98B YoY-7.8%	2.15B YoY+4.3%	2.06B YoY-1.9%	2.10B YoY-0.7%	2.11B YoY+2.1%
General & administrative	1.98B YoY-7.8%	2.15B YoY+4.3%	2.06B YoY-1.9%	2.10B YoY-0.7%	2.11B YoY+2.1%
Selling & marketing	2.28B YoY+14.1%	2.00B YoY+10.6%	1.81B YoY-19.8%	2.26B YoY-7.7%	2.44B YoY+31.4%
Restructuring	—	307M YoY+151.6%	122M YoY+0.8%	121M YoY+348.1%	27.0M YoY-75.2%
Amortization of intangibles	175M YoY-15.5%	207M YoY-8.4%	226M YoY-52.0%	471M YoY+6.3%	443M YoY-1.8%
Operating income	6.07B YoY+13.9%	5.33B YoY+5.9%	5.03B YoY+31.0%	3.84B YoY-10.0%	4.26B YoY+29.6%
Interest expense	441M YoY+15.4%	382M YoY+10.1%	347M YoY+14.1%	304M YoY+31.0%	232M YoY+11.0%
Other non-operating income	-11.0M YoY-222.2%	9.00M YoY-81.6%	49.0M YoY+232.4%	-37.0M YoY-8.8%	-34.0M YoY-100.0%
Gain (loss) on equity securities	168M YoY+162.2%	-270M YoY-110.9%	-128M YoY-262.0%	79.0M YoY+271.7%	-46.0M YoY-102.9%
Pre-tax income	—	—	—	3.37B YoY-17.9%	4.10B YoY-19.1%
Income tax	1.06B YoY-10.4%	1.18B YoY+1.5%	1.17B YoY+23.0%	947M YoY+1452.9%	-70.0M YoY-108.1%
	5.23B YoY+26.2%	4.15B YoY-2.3%	4.25B YoY+75.5%	2.42B YoY-42.0%	4.17B YoY-0.8%
Net income to common	5.23B YoY+26.2%	4.15B YoY-2.3%	4.25B YoY+75.5%	2.42B YoY-42.0%	4.17B YoY-0.8%
	$5.41 YoY+35.6%	$3.99 YoY+3.9%	$3.84 YoY+83.7%	$2.09 YoY-40.6%	$3.52 YoY-0.6%
EPS (basic)	$5.46 YoY+35.5%	$4.03 YoY+4.7%	$3.85 YoY+83.3%	$2.10 YoY-40.8%	$3.55 YoY-0.8%
	959M YoY-6.8%	1.03B YoY-6.7%	1.10B YoY-4.4%	1.15B YoY-1.7%	1.17B YoY+0.1%
	968M YoY-6.8%	1.04B YoY-6.1%	1.11B YoY-4.4%	1.16B YoY-2.4%	1.19B YoY-0.1%
Dividends per share	$0.14	—	—	—	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	59.8B YoY+2.7%	58.2B YoY-7.0%	62.6B YoY+9.0%	57.4B YoY+9.2%	52.6B YoY+3.1%
Cash & equivalents	8.05B YoY+20.8%	6.66B YoY-26.6%	9.08B YoY+16.8%	7.78B YoY+49.6%	5.20B YoY+8.4%
Short-term investments	2.37B YoY-44.3%	4.26B YoY-14.4%	4.98B YoY+61.0%	3.09B YoY-28.1%	4.30B YoY-48.1%
Accounts receivable	840M YoY-14.6%	984M YoY-8.0%	1.07B YoY+11.0%	963M YoY+20.4%	800M YoY+38.6%
Prepaid expenses	1.83B YoY+9.8%	1.66B YoY-33.7%	2.51B YoY+32.2%	1.90B YoY+47.5%	1.29B YoY+12.1%
	80.2B YoY+1.8%	78.7B YoY-4.2%	82.2B YoY+4.5%	78.6B YoY+3.7%	75.8B YoY+7.7%
Property, plant & equipment	1.70B YoY+12.7%	1.51B YoY+1.3%	1.49B YoY-14.0%	1.73B YoY-9.4%	1.91B YoY+5.6%
Operating lease right-of-use	539M YoY-10.0%	599M YoY+53.6%	390M YoY-32.1%	574M YoY-12.9%	659M YoY-6.8%
Goodwill	10.9B YoY+0.2%	10.8B YoY-1.7%	11.0B YoY-1.6%	11.2B YoY-2.1%	11.5B YoY+25.4%
Intangible assets	208M YoY-36.2%	326M YoY-39.3%	537M YoY-31.9%	788M YoY-40.8%	1.33B YoY+27.1%
Long-term investments	4.33B YoY-5.5%	4.58B YoY+40.0%	3.27B YoY-34.8%	5.02B YoY-26.2%	6.80B YoY+11.6%
Other non-current assets	3.31B YoY+1.4%	3.27B YoY-0.2%	3.27B YoY+33.3%	2.46B YoY+41.3%	1.74B YoY+33.1%
	46.4B YoY+2.1%	45.5B YoY-6.1%	48.5B YoY+7.7%	45.0B YoY+4.6%	43.0B YoY+11.9%
Accounts payable	240M YoY+5.7%	227M YoY+63.3%	139M YoY+10.3%	126M YoY-36.0%	197M YoY-21.8%
Accrued liabilities	6.00B YoY+7.4%	5.59B YoY-12.5%	6.39B YoY+31.3%	4.87B YoY+29.6%	3.75B YoY+41.8%
Current lease liability	148M YoY+9.6%	135M YoY-6.3%	144M YoY-4.6%	151M YoY+6.3%	142M YoY-1.4%
Finance lease liability (current)	7.00M YoY+40.0%	5.00M	0.00	—	—
	59.9B YoY+2.8%	58.3B YoY-4.6%	61.1B YoY+4.7%	58.4B YoY+7.9%	54.1B YoY+7.5%
Long-term debt	9.99B YoY+1.1%	9.88B YoY+2.1%	9.68B YoY-7.1%	10.4B YoY+29.4%	8.05B YoY-10.0%
Non-current lease liability	548M YoY-12.9%	629M YoY+51.2%	416M YoY-26.9%	569M YoY-8.2%	620M YoY-3.4%
Operating lease liability (total)	696M YoY-8.9%	764M YoY+36.4%	560M YoY-22.2%	720M YoY-5.5%	762M YoY-3.1%
Finance lease liability (total)	17.0M YoY-26.1%	23.0M	0.00	—	—
Finance lease liability	10.0M YoY-44.4%	18.0M	0.00	—	—
Other non-current liabilities	3.49B YoY+18.6%	2.94B YoY-1.1%	2.97B YoY+1.6%	2.92B	—
	20.3B YoY-0.8%	20.4B YoY-3.0%	21.1B YoY+3.8%	20.3B YoY-6.7%	21.7B YoY+8.5%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	0.00	0.00	0.00	0.00	0.00
Additional paid-in capital	21.6B YoY+4.2%	20.7B YoY+5.4%	19.6B YoY+7.2%	18.3B YoY+6.5%	17.2B YoY+3.4%
Retained earnings	32.5B YoY+18.7%	27.3B YoY+17.9%	23.2B YoY+22.4%	19.0B YoY+14.6%	16.5B YoY+33.7%
Treasury stock	33.1B YoY+22.3%	27.1B YoY+28.7%	21.0B YoY+30.9%	16.1B YoY+35.3%	11.9B YoY+39.6%
Accumulated other comprehensive income	-658M YoY-19.6%	-550M YoY+26.3%	-746M YoY+19.6%	-928M YoY-582.4%	-136M YoY+71.9%
Non-controlling interest	—	—	—	—	0.00 YoY-100.0%
Total equity incl. non-controlling	—	—	21.1B YoY+3.8%	20.3B YoY-6.7%	21.7B YoY+8.3%
Total liabilities & equity	80.2B YoY+1.8%	78.7B YoY-4.2%	82.2B YoY+4.5%	78.6B YoY+3.7%	75.8B YoY+7.7%
	920M YoY-7.4%	993M YoY-7.4%	1.07B YoY-5.6%	1.14B YoY-2.7%	1.17B YoY-0.3%
	921M YoY-6.9%	989M YoY-7.7%	1.07B YoY-5.3%	1.13B YoY-2.9%	1.17B YoY-0.5%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	6.42B YoY-13.9%	7.45B YoY+53.8%	4.84B YoY-16.7%	5.81B YoY+0.3%	5.80B YoY-6.8%
Depreciation & amortization	963M YoY-6.7%	1.03B YoY-3.7%	1.07B YoY-18.6%	1.32B YoY+4.1%	1.26B YoY+6.4%
Intangible amortization	175M YoY-15.5%	207M YoY-8.4%	226M YoY-52.0%	471M YoY+6.3%	443M YoY-1.8%
Share-based compensation	1.00B YoY-18.5%	1.23B YoY-16.6%	1.48B YoY+17.0%	1.26B YoY-8.4%	1.38B YoY+0.0%
Deferred income taxes	217M YoY-6.1%	231M YoY+134.6%	-668M YoY+17.6%	-811M YoY-68.3%	-482M YoY-392.1%
Change in receivables	-144M YoY-69.4%	-85.0M YoY-174.6%	114M YoY-30.1%	163M YoY-26.6%	222M YoY+122.0%
	797M YoY-52.8%	1.69B YoY+124.6%	752M YoY+122.6%	-3.33B YoY+35.4%	-5.15B YoY+68.9%
Capital expenditure	852M YoY+24.7%	683M YoY+9.6%	623M YoY-11.8%	706M YoY-22.2%	908M YoY+4.8%
Free cash flow	5.56B YoY-17.8%	6.77B YoY+60.4%	4.22B YoY-17.4%	5.11B YoY+4.5%	4.89B YoY-8.7%
Acquisitions	0.00	0.00	0.00	0.00 YoY-100.0%	2.76B YoY-23.4%
Purchases of investments	20.4B YoY-22.2%	26.2B YoY+19.2%	22.0B YoY+8.7%	20.2B YoY-49.6%	40.1B YoY-3.4%
Proceeds from sale of PP&E	3.00M YoY+200.0%	1.00M YoY-97.8%	45.0M YoY+800.0%	5.00M YoY+0.0%	5.00M YoY-95.8%
Other investing activities	21.0M YoY+108.1%	-259M YoY-201.2%	-86.0M YoY+54.0%	-187M	0.00
	-5.96B YoY+28.0%	-8.28B YoY-176.5%	-2.99B YoY-148.8%	-1.20B YoY-116.0%	-557M YoY-104.5%
Long-term debt issued	2.64B YoY+70.6%	1.55B YoY+1.2%	1.53B YoY-56.0%	3.48B YoY+1177.6%	272M YoY-96.1%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	117M YoY+23.2%	95.0M YoY-25.2%	127M YoY-11.2%	143M YoY-11.7%	162M YoY+18.2%
Common stock repurchased	6.05B YoY+0.1%	6.05B YoY+20.9%	5.00B YoY+19.1%	4.20B YoY+24.5%	3.37B YoY+106.3%
Dividends paid	130M	0.00	0.00	0.00	0.00
Other financing activities	-6.00M YoY+90.0%	-60.0M	0.00 YoY-100.0%	1.00M	0.00 YoY+100.0%
FX effect on cash	273M YoY+231.9%	-207M YoY-372.4%	76.0M YoY+149.0%	-155M YoY-52.0%	-102M YoY-160.4%
Net change in cash	1.53B YoY+132.9%	656M YoY-75.5%	2.68B YoY+137.6%	1.13B YoY+10345.5%	-11.0M YoY-100.5%
Interest paid	406M YoY+10.9%	366M YoY+10.6%	331M YoY+18.2%	280M YoY+21.2%	231M YoY+21.6%
Income taxes paid	1.10B YoY+7.0%	1.03B YoY-51.5%	2.12B YoY+141.2%	878M YoY+85.2%	474M YoY-16.1%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	53.7B YoY-36.3%	84.4B YoY+27.5%	66.2B YoY-18.5%	81.2B YoY-63.0%	220B YoY-19.9%
P/E	10.3× YoY-49.6%	20.4× YoY+15.8%	17.6× YoY-50.2%	35.3× YoY-33.0%	52.7× YoY-19.3%
P/S	1.6× YoY-39.0%	2.7× YoY+16.8%	2.3× YoY-24.3%	3.0× YoY-65.3%	8.7× YoY-32.3%
P/B	2.7× YoY-35.8%	4.1× YoY+23.3%	3.4× YoY-16.3%	4.0× YoY-60.4%	10.1× YoY-26.2%
P/FCF	9.7× YoY-22.6%	12.5× YoY-40.0%	20.8× YoY+19.9%	17.3× YoY-61.4%	44.9× YoY-12.3%
	9.7% YoY+98.2%	4.9% YoY-13.6%	5.7% YoY+100.8%	2.8% YoY+49.2%	1.9% YoY+23.9%
	10.4% YoY+29.2%	8.0% YoY+66.7%	4.8% YoY-16.6%	5.8% YoY+159.1%	2.2% YoY+14.0%
	0.24%	—	—	—	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: PYPL's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PYPL filings on SEC EDGAR → Not investment advice.