PayPal Holdings, Inc. (PYPL) Balance Sheet

NASDAQ: PYPLAssets, liabilities, debt and equity over 10 years.

PYPL balance sheet, 2025

December 31, 2025 · U.S. dollars

$80.17B assets = $59.92B liabilities + $20.26B equity

Both columns are drawn to the same scale: what PYPL owns equals what it owes plus shareholders’ equity. Hover a block for its value.

PYPL financial health

Current ratio1.29

Adequate · current assets cover current liabilities 1.29×

Debt / equity0.49

Low leverage · $0.49 of debt for each $1 of equity

Equity / assets25.3%

Balanced · of assets funded by shareholders

Cash / debt104.4%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles13.8%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

PYPL balance sheet trends, 2016–2025

PayPal Holdings, Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$33.10B2016	$80.17B2025	+10.3%/yr
Total liabilities	$18.39B2016	$59.92B2025	+14.0%/yr
Shareholders’ equity	$14.71B2016	$20.26B2025	+3.6%/yr
Cash & short-term investments	$4.97B2016	$10.42B2025	+8.6%/yr
Total debt	$1.00B2017	$9.99B2025	+33.3%/yr
Net cash (debt)	$4.70B2017	$435.0M2025	−$4.3B
Working capital	$8.86B2016	$13.32B2025	+$4.5B
Book value per share	$12.082016	$20.932025	+6.3%/yr
Current ratio	1.522016	1.292025	−0.24
Debt / equity	0.062017	0.492025	+0.43
Shares outstanding	1.22B2016	968.0M2025	−2.5%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

PYPL assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

PYPL liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

PYPL debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

PYPL balance sheet

PayPal Holdings, Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$10.42B	$10.82B	$14.06B	$10.85B	$9.50B	$13.08B	$10.76B	$9.11B	$5.70B	$4.97B
Cash & equivalents	$8.05B	$6.56B	$9.08B	$7.78B	$5.20B	$4.79B	$7.35B	$7.58B	$2.88B	$1.59B
Short-term investments	$2.37B	$4.26B	$4.98B	$3.08B	$4.30B	$8.29B	$3.41B	$1.53B	$2.81B	$3.38B
Receivables	$47.51B	$45.62B	$46.00B	$44.75B	$41.79B	$36.76B	$26.93B	$22.91B	$26.24B	$19.93B
Inventory	$0	$0	−$463.0M	$17.0M	$0	$0	$0	$0	$6.40B	$0
Other current assets	$1.83B	$4.65B	$2.98B	$1.90B	$1.29B	$1.15B	$800.0M	$947.0M	$0	$833.0M
Total current assets	$59.76B	$61.09B	$62.57B	$57.52B	$52.57B	$50.99B	$38.49B	$32.96B	$32.65B	$25.73B
Property, plant & equipment (net)	$1.70B	$1.51B	$1.49B	$1.73B	$1.91B	$1.81B	$1.69B	$1.72B	$1.53B	$1.48B
Goodwill & intangible assets	$11.07B	$11.16B	$11.56B	$12.00B	$12.79B	$10.18B	$6.99B	$7.11B	$4.51B	$4.27B
Long-term investments	$4.33B	$4.58B	$3.27B	$5.02B	$6.80B	$6.09B	$2.86B	$971.0M	$1.96B	$1.54B
Other non-current assets	$3.31B	$3.27B	$3.27B	$2.46B	$1.74B	$1.30B	$1.29B	$565.0M	$133.0M	$79.0M
Total assets	$80.17B	$81.61B	$82.17B	$78.72B	$75.80B	$70.38B	$51.33B	$43.33B	$40.77B	$33.10B
Liabilities
Accounts payable	$240.0M	$39.90B	$42.07B	$40.23B	$39.04B	$35.67B	$24.76B	$21.84B	$20.00B	$15.36B
Short-term debt	—	—	$1.39B	$151.0M	$142.0M	$144.0M	$104.0M	$2.00B	$1.00B	—
Deferred revenue	—	—	−$1.39B	−$569.0M	—	−$144.0M	−$104.0M	—	—	—
Total current liabilities	$46.44B	$48.38B	$48.47B	$45.10B	$43.03B	$38.45B	$26.92B	$25.90B	$22.86B	$16.88B
Long-term debt	$9.99B	$9.88B	$9.68B	$10.42B	$8.05B	$8.94B	$4.96B	$0	$0	$0
Other long-term liabilities	$3.49B	$2.94B	$2.97B	$2.92B	$3.00B	$2.93B	$2.52B	$2.04B	$1.92B	$1.51B
Total liabilities	$59.92B	$61.19B	$61.12B	$58.44B	$54.08B	$50.32B	$34.40B	$27.95B	$24.78B	$18.39B
Shareholders' equity
Common stock & paid-in capital	—	—	—	—	—	—	—	—	$0	$0
Retained earnings (deficit)	$32.47B	$27.35B	$23.20B	$18.95B	$16.54B	$12.37B	$8.34B	$5.88B	$3.82B	$2.07B
Treasury stock	—	—	—	—	−$11.88B	−$8.51B	−$6.87B	−$5.51B	−$2.00B	−$995.0M
Accumulated other comprehensive income	−$658.0M	−$550.0M	−$746.0M	−$928.0M	−$136.0M	−$484.0M	−$173.0M	$78.0M	−$142.0M	$59.0M
Minority interest	—	—	—	—	—	$44.0M	$44.0M	—	$0	$0
Total shareholders' equity	$20.26B	$20.42B	$21.05B	$20.27B	$21.73B	$20.06B	$16.93B	$15.39B	$15.99B	$14.71B
Key figures
Total debt	$9.99B	$9.88B	$9.68B	$11.14B	$8.81B	$9.72B	$5.47B	$2.00B	$1.00B	—
Net cash (debt)	$435.0M	$943.0M	$4.38B	−$286.0M	$689.0M	$3.36B	$5.29B	$7.11B	$4.70B	—
Working capital	$13.32B	$12.72B	$14.10B	$12.42B	$9.54B	$12.55B	$11.58B	$7.06B	$9.78B	$8.86B
Tangible book value	$9.18B	$9.25B	$9.49B	$8.28B	$8.94B	$9.88B	$9.94B	$8.28B	$11.49B	$10.44B
Book value per share	$20.93	$19.65	$19.02	$17.51	$18.32	$16.90	$14.25	$12.79	$13.10	$12.08
Shares outstanding	968.0M	1.04B	1.11B	1.16B	1.19B	1.19B	1.19B	1.20B	1.22B	1.22B
Current ratio	1.29	1.26	1.29	1.28	1.22	1.33	1.43	1.27	1.43	1.52
Quick ratio	1.25	1.17	1.24	1.23	1.19	1.30	1.40	1.24	1.40	1.48
Debt / equity	0.49	0.48	0.46	0.55	0.41	0.48	0.32	0.13	0.06	—
Equity / assets	25.3%	25.0%	25.6%	25.8%	28.7%	28.5%	33.0%	35.5%	39.2%	44.4%

PayPal Holdings, Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$11.26B	$9.34B	$10.42B	$10.76B	$10.01B	$11.21B	$10.82B	$11.92B	$13.61B	$14.31B	$14.06B	$11.54B
Cash & equivalents	$8.31B	$6.98B	$8.05B	$8.99B	$6.69B	$7.45B	$6.56B	$7.27B	$7.70B	$9.69B	$9.08B	$6.82B
Short-term investments	$2.95B	$2.37B	$2.37B	$1.76B	$3.32B	$3.76B	$4.26B	$4.65B	$5.91B	$4.62B	$4.98B	$4.72B
Receivables	$47.46B	$48.87B	$47.51B	$47.44B	$47.78B	$47.51B	$45.62B	$46.69B	$45.40B	$44.97B	$46.00B	$40.70B
Inventory	$3.0M	$0	$0	$0	$0	$0	$0	$0	$0	−$4.42B	$3.0M	$2.17B
Other current assets	$3.63B	$1.78B	$1.83B	$1.98B	$2.09B	$1.89B	$4.65B	$4.06B	$3.96B	$8.84B	$2.51B	$2.23B
Total current assets	$62.35B	$59.99B	$59.76B	$60.18B	$59.88B	$60.61B	$61.09B	$62.67B	$62.97B	$63.71B	$62.57B	$56.63B
Property, plant & equipment (net)	$1.73B	$1.71B	$1.70B	$1.66B	$1.62B	$1.54B	$1.51B	$1.50B	$1.46B	$1.43B	$1.49B	$1.53B
Goodwill & intangible assets	$11.11B	$11.15B	$11.07B	$11.17B	$11.25B	$11.21B	$11.16B	$11.39B	$11.22B	$11.38B	$11.56B	$11.50B
Long-term investments	$4.01B	$4.12B	$4.33B	$3.60B	$3.65B	$4.61B	$4.58B	$4.28B	$4.65B	$3.41B	$3.27B	$3.85B
Other non-current assets	$3.54B	$3.57B	$3.31B	$3.20B	$3.38B	$3.31B	$3.27B	$3.67B	$3.71B	$3.42B	$3.27B	$2.92B
Total assets	$82.74B	$80.55B	$80.17B	$79.80B	$79.78B	$81.27B	$81.61B	$83.51B	$84.02B	$83.35B	$82.17B	$76.44B
Liabilities
Accounts payable	$41.95B	$41.66B	$240.0M	$40.88B	$41.14B	$41.38B	$39.90B	$41.35B	$41.86B	$41.46B	$42.07B	$38.77B
Short-term debt	$2.65B	—	—	—	—	—	—	$2.60B	$2.56B	$1.29B	$1.39B	$147.0M
Deferred revenue	—	—	—	—	—	—	—	−$2.60B	—	−$1.29B	−$1.39B	−$147.0M
Total current liabilities	$48.41B	$47.64B	$46.44B	$44.92B	$45.05B	$46.62B	$48.38B	$50.27B	$50.71B	$49.85B	$48.47B	$43.44B
Long-term debt	$10.89B	$9.41B	$9.99B	$11.28B	$11.30B	$11.42B	$9.88B	$9.98B	$9.73B	$9.68B	$9.68B	$10.64B
Other long-term liabilities	$3.62B	$3.48B	$3.49B	$3.40B	$3.23B	$2.98B	$2.94B	$3.09B	$2.95B	$3.12B	$2.97B	$2.62B
Total liabilities	$62.92B	$60.52B	$59.92B	$59.60B	$59.58B	$61.02B	$61.19B	$63.34B	$63.39B	$62.65B	$61.12B	$56.70B
Shareholders' equity
Retained earnings (deficit)	$34.43B	$33.45B	$32.47B	$31.16B	$29.91B	$28.65B	$27.35B	$26.23B	$25.22B	$24.09B	$23.20B	$21.80B
Accumulated other comprehensive income	−$503.0M	−$513.0M	−$658.0M	−$700.0M	−$739.0M	−$622.0M	−$550.0M	−$627.0M	−$693.0M	−$659.0M	−$746.0M	−$852.0M
Total shareholders' equity	$19.82B	$20.02B	$20.26B	$20.20B	$20.20B	$20.25B	$20.42B	$20.17B	$20.62B	$20.70B	$21.05B	$19.74B
Key figures
Total debt	$14.22B	$9.41B	$9.99B	$11.28B	$11.30B	$11.42B	$9.88B	$9.98B	$9.73B	$9.68B	$9.68B	$10.64B
Net cash (debt)	−$2.96B	−$67.0M	$435.0M	−$521.0M	−$1.29B	−$206.0M	$943.0M	$1.94B	$3.89B	$4.63B	$4.38B	$901.0M
Working capital	$13.94B	$12.36B	$13.32B	$15.25B	$14.83B	$13.99B	$12.72B	$12.40B	$12.26B	$13.86B	$14.10B	$13.19B
Tangible book value	$8.71B	$8.87B	$9.18B	$9.03B	$8.95B	$9.05B	$9.25B	$8.79B	$9.40B	$9.32B	$9.49B	$8.24B
Book value per share	$22.00	$21.77	$21.57	$20.65	$20.68	$20.27	$20.14	$19.70	$19.70	$19.31	$19.42	$17.98
Shares outstanding	901.0M	920.0M	939.0M	978.0M	977.0M	999.0M	1.01B	1.02B	1.05B	1.07B	1.08B	1.10B
Current ratio	1.29	1.26	1.29	1.34	1.33	1.30	1.26	1.25	1.24	1.28	1.29	1.30
Quick ratio	1.21	1.22	1.25	1.30	1.28	1.26	1.17	1.17	1.16	1.19	1.24	1.20
Debt / equity	0.72	0.47	0.49	0.56	0.56	0.56	0.48	0.49	0.47	0.47	0.46	0.54
Equity / assets	24.0%	24.9%	25.3%	25.3%	25.3%	24.9%	25.0%	24.2%	24.5%	24.8%	25.6%	25.8%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 3, 2026); data from EODHD.

PYPL financial position

At the end of fiscal 2025 (December 31, 2025), PayPal had total assets of $80.2 billion (down 1.8% from a year earlier), total liabilities of $59.9 billion and shareholders' equity of $20.3 billion. It held $10.4 billion in cash and short-term investments against $10.0 billion of debt, a net cash position of $435.0 million. Its current ratio was 1.29. In the latest quarter (ended June 30, 2026) total assets were $82.7 billion and equity $19.8 billion.

Related: PYPL income statement, PYPL cash flow statement, PYPL key metrics. See the PYPL stock overview for the latest quote and news.

PYPL balance sheet FAQ

What are PayPal's total assets?

PayPal reported total assets of $80.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $81.6 billion a year earlier.

How much debt does PayPal have?

PayPal had $10.0 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.49.

How much cash does PayPal have?

PayPal held $10.4 billion in cash and short-term investments at the end of fiscal 2025; with $10.0 billion of debt that is net cash of $435.0 million.

What is PayPal's book value?

PayPal's shareholders' equity (book value) was $20.3 billion at the end of fiscal 2025, or $20.93 per share.

What is PayPal's current ratio?

PayPal had current assets of $59.8 billion and current liabilities of $46.4 billion, a current ratio of 1.29 (it can cover its short-term obligations).

How much goodwill does PayPal have?

PayPal carried $11.1 billion of goodwill and intangible assets, 13.8% of total assets, at the end of fiscal 2025.