PayPal Holdings, Inc.

Listed Company

PYPLCIK 0001633917NasdaqLarge AcceleratedServices-Business Services, NecFY ends Dec 31

Period

FY 2025

Revenue

$33.17B

Net Income

$5.23B

Total Assets

$80.17B

Equity

$20.26B

Shares Out

920.66M

Op. Cash Flow

$6.42B

Business

PayPal Holdings, Inc. operates a global two-sided digital payments platform that enables consumers and merchants to send, receive, and process payments online and offline. It offers branded and unbranded checkout experiences, digital wallets (PayPal and Venmo), person-to-person transfers (Venmo, Xoom), buy now, pay later and consumer credit products, merchant payment processing (Braintree, Complete Payments), point-of-sale solutions (Zettle), payouts, risk and fraud tools, and financing for consumers and merchants. The business is organized around consumer and merchant payment solutions and value-added services. Its products are distributed worldwide through digital channels, merchant integrations, mobile apps, and partner platforms.

Summary from filing dated 2025-02-04

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenues	33,172	31,797	29,771	27,518	25,371
Transaction expense	15,987	15,697	14,385	12,173	10,315
Transaction and credit losses	1,720	1,442	1,682	1,572	1,060
Customer support and operations	1,704	1,768	1,919	2,120	2,075
Sales and marketing	2,283	2,001	1,809	2,257	2,445
Technology and development	3,103	2,979	2,973	3,253	3,038
General and administrative	1,979	2,147	2,059	2,099	2,114
Restructuring and other	331	438	−84	207	—
Total operating expenses	27,107	26,472	24,743	23,681	21,109
Operating income	6,065	5,325	5,028	3,837	4,262
Other income (expense), net	227	4	383	−471	−163
Income before income taxes	6,292	5,329	5,411	3,366	4,099
Income tax expense	1,059	1,182	1,165	947	−70
Net income (loss)	5,233	4,147	4,246	2,419	4,169
Basic (in dollars per share)	5.46	4.03	3.85	2.1	3.55
Diluted (in dollars per share)	5.41	3.99	3.84	2.09	3.52
Basic (in shares)	959	1,029	1,103	1,154	1,174
Diluted (in shares)	968	1,039	1,107	1,158	1,186

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	8,049	6,662	9,081	7,776	5,197
Short-term investments	2,373	4,262	4,979	3,092	4,303
Accounts receivable, net	840	984	1,069	963	800
Loans and interest receivable, held for sale	1,726	541	563	0	—
Loans and interest receivable, net of allowances of $539 and $461 as of December 31, 2025 and 2024, respectively	6,746	6,422	5,433	7,431	4,846
Funds receivable and customer accounts	38,198	37,671	38,935	36,264	36,141
Prepaid expenses and other current assets	1,827	1,664	2,509	1,898	1,287
Total current assets	59,759	58,206	62,569	57,424	52,574
Long-term investments	4,330	4,583	3,273	5,018	6,797
Property and equipment, net	1,700	1,508	1,488	—	—
Goodwill	10,864	10,837	11,026	11,209	11,454
Intangible assets, net	208	326	537	788	1,332
Other assets	3,312	3,265	3,273	2,455	1,737
Total assets	80,173	78,725	82,166	78,624	75,803
Accounts payable	240	227	139	126	197
Funds payable and amounts due to customers	40,198	39,671	41,935	40,014	38,841
Accrued expenses and other current liabilities	6,005	5,592	6,392	4,868	3,755
Total current liabilities	46,443	45,490	48,466	45,008	43,029
Other long-term liabilities	3,487	2,939	2,973	2,925	—
Long-term debt	9,987	9,879	9,676	10,417	8,049
Total liabilities	59,917	58,308	61,115	58,350	54,076
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock, $0.0001 par value; 4,000 shares authorized; 920 and 993 shares outstanding as of December 31, 2025 and 2024, respectively	0	0	0	0	0
Preferred stock, $0.0001 par value; 100 shares authorized, unissued	0	0	0	0	0
Treasury stock at cost, 423 and 337 shares as of December 31, 2025 and 2024, respectively	−33,138	−27,085	−21,045	−16,079	−11,880
Additional paid-in-capital	21,582	20,705	19,642	18,327	17,208
Retained earnings	32,470	27,347	23,200	18,954	16,535
Accumulated other comprehensive income (loss)	−658	−550	−746	−928	−136
Total equity	20,256	20,417	21,051	20,274	21,727
Total liabilities and equity	80,173	78,725	82,166	78,624	75,803

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	963	1,032	1,072	1,317	1,265
Stock-based compensation	1,002	1,230	1,475	1,261	1,376
Deferred income taxes	217	231	−668	−811	−482
Net (gains) losses on strategic investments	−162	285	−201	304	−46
Gain on divestiture of business, excluding transaction costs	0	0	−356	0	0
Accretion of discounts on investments, net of amortization of premiums	−83	−335	−367	−70	73
Adjustments to loans and interest receivable, held for sale	193	125	53	0	—
Other	−287	−3	−104	275	27
Originations of loans receivable, held for sale	−36,730	−24,498	−11,470	0	0
Proceeds from repayments and sales of loans receivable, originally classified as held for sale	35,414	24,352	10,795	0	—
Accounts receivable	144	85	−114	−163	−222
Transaction loss allowance for cash losses, net	−1,318	−1,131	−1,188	−1,230	−1,178
Other current assets and non-current assets	−493	−393	−116	118	−486
Accounts payable	4	83	7	−35	−31
Other current liabilities and non-current liabilities	599	798	97	856	272
Net cash provided by operating activities	6,416	7,450	4,843	5,813	5,797
Purchases of reverse repurchase agreements	−201	−424	0	0	—
Maturities of reverse repurchase agreements	288	337	0	0	—
Purchases of property and equipment	−852	−683	−623	−706	−908
Proceeds from sales of property and equipment	3	1	45	5	5
Purchases and originations of loans receivable	−20,190	−21,807	−25,198	−28,170	−13,420
Proceeds from repayments and sales of loans receivable, originally classified as held for investment	19,688	20,272	26,660	24,903	11,826
Purchases of investments	−20,399	−26,209	−21,980	−20,219	−40,116
Maturities and sales of investments	22,933	26,962	24,295	23,411	—
Proceeds from divestiture of business, net of cash divested	0	0	466	0	0
Funds receivable	−303	2,908	−2,943	−2,720	193
Collateral posted related to derivative instruments, net	−149	73	−56	−19	—
Other	−21	259	86	187	0
Net cash provided by investing activities	797	1,689	752	−3,328	−5,149
Borrowings from repurchase agreements	2,949	656	0	0	—
Repayments of repurchase agreements	−2,949	−656	0	0	—
Proceeds from issuance of common stock	117	95	127	143	162
Purchases of treasury stock	−6,052	−6,047	−5,002	−4,199	−3,400
Tax withholdings related to net share settlements of equity awards	−383	−351	−257	−336	−1,036
Borrowings under financing arrangements	2,637	1,546	1,528	3,475	272
Repayments under financing arrangements	−2,155	−1,661	−1,053	−1,686	−361
Funds payable and amounts due to customers	174	−1,954	1,861	1,405	—
Collateral received related to derivative instruments and reverse repurchase agreements, net	−160	156	−197	−6	—
Payments of dividends to stockholders	−130	0	0	—	—
Other	−6	−60	0	1	0
Net cash used in financing activities	−5,958	−8,276	−2,993	−1,203	−557
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	273	−207	76	−155	−102
Net change in cash, cash equivalents, and restricted cash	1,528	656	2,678	1,127	−11
Cash paid for interest	406	366	331	280	231
Cash paid for income taxes, net	1,099	1,027	2,118	878	474

Filings

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