PayPay Corporation American Depository Shares (PAYP) Cash Flow Statement

NASDAQ: PAYPOperating cash, capex, free cash flow and buybacks.

Where PAYP’s cash came from and went, FY2026

March 31, 2026 · Japanese yen
Cash from operations
¥294.22B
+88.8% vs FY2025
Capital expenditures
¥6.75B
1.7% of revenue
Free cash flow
¥287.47B
71.2% margin
Returned to shareholders
¥329.8M
0% of free cash flow
Change in cash
−¥30.48B
cash at year-end ¥364.66B
Cash from operations: ¥294.22BCash from operations¥294.22BShares issued: ¥217.52BShares issued¥217.52BOther financing: ¥226.32BOther financing¥226.32BDrawn from cash: ¥30.48BDrawn from cash¥30.48BAcquisitions & other: ¥707.09BAcquisitions & other¥707.09B · 92%Investments (net): ¥29.54BInvestments (net)¥29.54B · 4%Currency & other: ¥23.29BCurrency & other¥23.29B · 3%Capital expenditures, Debt repayment, Dividends: ¥8.61BOther uses¥8.61B · 1%¥768.54B
Cash from operations
¥294.22B
Capital expenditures
−¥6.75B
Investments (net)
−¥29.54B
Acquisitions & other
−¥707.09B
Net borrowing (repayment)
−¥1.53B
Shares issued
+¥217.52B
Other financing
+¥226.32B
Currency & other
−¥23.62B
Change in cash
−¥30.48B

Drawn to scale: where the cash came from and how it was used. Hover for values.

PAYP operating cash flow, capex and free cash flow

Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)

PAYP cash flow trends, FY2023–FY2026

MetricTrendThenLatestChange
Operating cash flow−¥194.70BFY2023¥294.22BFY2026—
Capital expenditures¥29.38BFY2023¥6.75BFY2026−38.7%/yr
Free cash flow−¥224.08BFY2023¥287.47BFY2026—
Free cash flow margin−113.6%FY202371.2%FY2026+184.8 pts
Operating cash flow / net income4,543.18FY20242.41FY2026−4540.77
Stock-based compensation¥0FY2024¥1.85BFY2026—
Dividends paid¥4.93BFY2023¥329.8MFY2026−59.4%/yr
Capex / revenue14.9%FY20231.7%FY2026−13.2 pts

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

PAYP cash flow by activity

OperatingInvestingFinancingChange in cash

PAYP net income vs operating cash flow

Net incomeOperating cash flow

Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).

PAYP cash flow statement in Japanese yen

FY2026FY2025FY2024FY2023
Operating activities
Net income¥121.97B¥34.96B¥11.0M−¥20.55B
Depreciation & amortization¥27.02B¥21.39B¥18.59B¥14.65B
Stock-based compensation¥1.85B¥0¥0—
Change in working capital¥193.07B¥104.47B¥35.30B−¥184.94B
Other non-cash items−¥49.69B−¥4.97B−¥3.92B−¥3.87B
Cash from operating activities¥294.22B¥155.85B¥49.98B−¥194.70B
Investing activities
Capital expenditures−¥6.75B−¥22.09B−¥22.50B−¥29.38B
Investments (net)−¥29.54B−¥285.43B−¥247.57B¥215.64B
Acquisitions & other investing−¥707.09B−¥12.46B−¥3.32B¥3.75B
Cash from investing activities−¥743.39B−¥319.98B−¥273.38B¥190.01B
Financing activities
Dividends paid−¥329.8M−¥283.0M−¥179.0M−¥4.93B
Net borrowing (repayment)−¥1.53B−¥207.12B¥106.27B¥58.21B
Shares issued¥217.52B¥0¥0¥0
Other financing¥226.32B−¥2.92B¥1.84B−¥21.30B
Cash from financing activities¥441.98B−¥210.32B¥107.93B¥31.99B
Summary
Net change in cash−¥30.48B−¥374.51B−¥114.99B¥27.72B
Cash at end of period¥364.66B¥369.81B¥744.32B¥859.31B
Free cash flow¥287.47B¥133.76B¥27.48B−¥224.08B
Free cash flow margin71.2%45.8%11.1%−113.6%
Capex / revenue1.7%7.6%9.1%14.9%
Operating cash flow / net income2.414.464,543.18—

Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Japanese yen as reported; data from EODHD.

PAYP cash generation

In fiscal 2026 (ended March 31, 2026), PayPay Corporation American Depository Shares generated ¥294.2 billion of cash from operations (up 88.8%) and spent ¥6.8 billion on capital expenditures, leaving free cash flow of ¥287.5 billion, 71.2% of revenue. It returned ¥329.8 million to shareholders through dividends (¥329.8 million) and net share buybacks (¥0). Cash and equivalents fell by ¥30.5 billion over the year.

Related: PAYP income statement, PAYP balance sheet. See the PAYP stock overview for the latest quote and news.

PAYP cash flow FAQ

What is PayPay Corporation American Depository Shares's free cash flow?

PayPay Corporation American Depository Shares's free cash flow was ¥287.5 billion in fiscal 2026: ¥294.2 billion of operating cash flow minus ¥6.8 billion of capital expenditures It was ¥133.8 billion a year earlier..

How much cash does PayPay Corporation American Depository Shares generate from operations?

PayPay Corporation American Depository Shares generated ¥294.2 billion of cash from operating activities in fiscal 2026, 2.41 times its net income of ¥122.0 billion.

How much does PayPay Corporation American Depository Shares spend on capital expenditures?

PayPay Corporation American Depository Shares spent ¥6.8 billion on capital expenditures in fiscal 2026, 1.7% of revenue, compared with ¥22.1 billion the year before.

How much does PayPay Corporation American Depository Shares pay in dividends?

PayPay Corporation American Depository Shares paid ¥329.8 million in dividends in fiscal 2026, 0.1% of free cash flow.

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