PayPay Corporation American Depository Shares (PAYP) Key Metrics
PAYP key metrics, FY2023–FY2026
Fiscal year ended March 31, 2026 · Japanese yenPAYP returns How much profit the business earns on the capital it uses.
PAYP financial health Debt, liquidity and how easily interest is covered.
PAYP efficiency & capital use Working capital cycle and where the cash goes.
PAYP returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PAYP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PAYP cash returned to shareholders
PAYP key metrics in Japanese yen
FY2023–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Returns & profitability | ||||
| Return on equity (ROE) | 49.2% | 43.8% | −4.9% | −35.9% |
| Return on invested capital (ROIC) | 33.6% | — | — | — |
| Return on assets (ROA) | 2.6% | 0.9% | −0.1% | −0.8% |
| Return on tangible assets | 2.4% | 0.9% | −0.1% | −0.8% |
| Free cash flow margin | 71.2% | 45.8% | 11.1% | −113.6% |
| Income quality (OCF / net income) | 2.41 | 4.31 | — | — |
| Financial health | ||||
| Total debt | ¥577.00B | ¥411.68B | ¥610.95B | ¥503.24B |
| Cash & short-term investments | ¥364.66B | ¥614.32B | ¥942.66B | ¥1.35T |
| Net debt | ¥212.34B | −¥202.64B | −¥331.70B | −¥841.93B |
| Debt / equity | 1.46 | 4.12 | 9.38 | 6.98 |
| Debt / assets | 0.11 | 0.10 | 0.16 | 0.15 |
| Net debt / EBITDA | 1.90 | −3.34 | −16.15 | — |
| Current ratio | 8.67 | 0.52 | 0.64 | 4.63 |
| Quick ratio | 8.67 | 0.52 | 0.64 | 4.63 |
| Interest coverage | 8.0 | 8.3 | 0.0 | -13.6 |
| Working capital | ¥2.72T | −¥1.73T | −¥1.22T | ¥2.46T |
| Invested capital | ¥608.23B | −¥102.75B | −¥266.54B | −¥769.88B |
| Tangible asset value | ¥335.50B | ¥142.90B | ¥119.64B | ¥125.08B |
| Net current asset value | −¥1.69T | −¥1.95T | −¥1.47T | ¥34.27B |
| Capital allocation | ||||
| Dividends paid | ¥329.8M | ¥283.0M | ¥179.0M | ¥4.93B |
| Dividend payout ratio | 0.3% | 0.8% | — | — |
| Dividends + buybacks / free cash flow | 0.1% | 0.2% | 0.7% | — |
| Capex / revenue | 1.7% | 7.6% | 9.1% | 14.9% |
| Capex / operating cash flow | 2.3% | 14.2% | 45.0% | — |
| Capex / depreciation | 0.25 | 1.03 | 1.21 | 2.00 |
| Stock-based compensation / revenue | 0.5% | 0.0% | 0.0% | — |
| SG&A / revenue | 24.4% | 13.5% | 18.7% | 22.7% |
| Efficiency | ||||
| Days sales outstanding | 1,679.1 | 1,168.5 | 1,747.5 | 2,782.7 |
| Days payables outstanding | 1,896.8 | 7,733.5 | 7,159.6 | 8,061.0 |
| Cash conversion cycle (days) | -217.7 | -6,565.0 | -5,412.2 | -5,278.3 |
| Receivables turnover | 0.22 | 0.31 | 0.21 | 0.13 |
| Payables turnover | 0.19 | 0.05 | 0.05 | 0.05 |
| Asset turnover | 0.09 | 0.07 | 0.07 | 0.06 |
| Average receivables | ¥1.86T | ¥934.89B | ¥1.19T | ¥1.50T |
| Average payables | ¥1.04T | ¥878.92B | ¥740.76B | ¥673.06B |
| Intangibles / total assets | 1.9% | 2.0% | 1.9% | 2.0% |
Computed from PAYP's annual financial statements (latest annual report filed June 30, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Japanese yen; data from EODHD. Averages use the opening and closing balance of each year.
PAYP valuation and financial ratios
PayPay Corporation American Depository Shares earned a return on equity of 49.2% and a return on invested capital of 33.6% in fiscal 2026. It ended the year with ¥577.0 billion of debt and ¥364.7 billion in cash and short-term investments, net debt of ¥212.3 billion. It returned ¥329.8 million to shareholders: ¥329.8 million in dividends and ¥0 in share buybacks, 0% of free cash flow.
See the PAYP income statement, the PAYP chart for price history, or the PAYP stock overview for the latest quote and news.
PAYP key metrics FAQ
What is PayPay Corporation American Depository Shares's return on equity?
PayPay Corporation American Depository Shares's return on equity (ROE) was 49.2% in fiscal 2026: net income of ¥122.0 billion on average shareholders' equity of ¥247.9 billion.
What is PayPay Corporation American Depository Shares's ROIC?
PayPay Corporation American Depository Shares's return on invested capital was 33.6% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does PayPay Corporation American Depository Shares have?
PayPay Corporation American Depository Shares had total debt of ¥577.0 billion at the end of fiscal 2026, a debt-to-equity ratio of 1.46 and ¥212.3 billion of net debt (1.90 times EBITDA).
What is PayPay Corporation American Depository Shares's current ratio?
PayPay Corporation American Depository Shares's current ratio was 8.67 at the end of fiscal 2026: current assets were 8.67 times current liabilities.