PayPal Holdings, Inc. (PYPL) Key Metrics
PYPL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $48.50B
- Enterprise value
- $47.06B
- P/E (TTM)
- 10.7 10-yr median 41.7
- Forward P/E
- 9.1
- PEG ratio
- 0.93
- Price / sales
- 1.4 10-yr median 5.5
- Price / book
- 2.3 10-yr median 5.0
- EV / EBITDA
- 6.5 10-yr median 23.3
- Dividend yield
- 0.99% $0.56 a year
- Beta
- 1.28
PYPL key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsPYPL valuation Price multiples at each fiscal year-end price.
PYPL returns How much profit the business earns on the capital it uses.
PYPL per-share figures Results divided by the shares outstanding at year-end.
PYPL financial health Debt, liquidity and how easily interest is covered.
PYPL efficiency & capital use Working capital cycle and where the cash goes.
PYPL valuation history
PYPL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PYPL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PYPL cash returned to shareholders
PYPL price vs earnings per share
PYPL key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $56.51B | $88.68B | $67.98B | $82.47B | $223.66B | $278.00B | $128.51B | $101.16B | $89.89B | $48.07B |
| Enterprise value | $56.08B | $87.74B | $63.60B | $82.76B | $222.97B | $274.64B | $123.22B | $94.05B | $85.20B | $43.10B |
| P/E ratio | 10.8 | 21.4 | 16.0 | 34.1 | 53.6 | 66.2 | 52.3 | 49.2 | 50.1 | 34.3 |
| Price / sales | 1.7 | 2.8 | 2.3 | 3.0 | 8.8 | 13.0 | 7.2 | 6.5 | 6.9 | 4.4 |
| Price / book | 2.8 | 4.3 | 3.2 | 4.1 | 10.3 | 13.9 | 7.6 | 6.6 | 5.6 | 3.3 |
| Price / free cash flow | 10.2 | 13.1 | 16.1 | 16.1 | 45.7 | 51.9 | 33.3 | 21.7 | 48.2 | 19.3 |
| Price / operating cash flow | 8.8 | 11.9 | 14.0 | 14.2 | 38.6 | 44.7 | 28.2 | 18.4 | 35.5 | 15.2 |
| EV / sales | 1.7 | 2.8 | 2.1 | 3.0 | 8.8 | 12.8 | 6.9 | 6.1 | 6.5 | 4.0 |
| EV / EBITDA | 7.3 | 13.0 | 9.3 | 16.6 | 39.8 | 42.5 | 30.6 | 29.1 | 28.3 | 18.3 |
| EV / free cash flow | 10.1 | 13.0 | 15.1 | 16.2 | 45.6 | 51.3 | 31.9 | 20.2 | 45.7 | 17.3 |
| Earnings yield | 9.3% | 4.7% | 6.2% | 2.9% | 1.9% | 1.5% | 1.9% | 2.0% | 2.0% | 2.9% |
| Free cash flow yield | 9.8% | 7.6% | 6.2% | 6.2% | 2.2% | 1.9% | 3.0% | 4.6% | 2.1% | 5.2% |
| Dividend yield | 0.2% | 0.0% | 2.2% | 4.2% | 2.1% | 1.8% | 3.3% | 2.1% | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 10.9% | 6.8% | 9.6% | 9.3% | 3.6% | 2.4% | 4.4% | 5.5% | 1.1% | 2.1% |
| Share price at fiscal year-end | $58.38 | $85.35 | $61.41 | $71.22 | $188.58 | $234.20 | $108.17 | $84.09 | $73.62 | $39.47 |
| Per share | ||||||||||
| Revenue per share | $34.27 | $30.60 | $26.89 | $23.76 | $21.39 | $18.07 | $14.96 | $12.84 | $10.72 | $8.90 |
| Earnings per share | $5.41 | $3.99 | $3.84 | $2.09 | $3.52 | $3.54 | $2.07 | $1.71 | $1.47 | $1.15 |
| Operating cash flow per share | $6.63 | $7.17 | $4.37 | $5.02 | $4.89 | $5.24 | $3.84 | $4.56 | $2.07 | $2.59 |
| Free cash flow per share | $5.75 | $6.51 | $3.81 | $4.41 | $4.12 | $4.51 | $3.25 | $3.87 | $1.53 | $2.04 |
| Cash per share | $10.77 | $10.42 | $12.70 | $9.37 | $8.01 | $11.02 | $9.06 | $7.57 | $4.66 | $4.08 |
| Book value per share | $20.93 | $19.65 | $19.02 | $17.51 | $18.32 | $16.90 | $14.25 | $12.79 | $13.10 | $12.08 |
| Tangible book value per share | $9.49 | $8.91 | $8.57 | $7.15 | $7.54 | $8.32 | $8.37 | $6.88 | $9.41 | $8.57 |
| Dividends per share | $0.13 | $0.00 | $1.38 | $3.00 | $3.89 | $4.23 | $3.61 | $1.72 | $0.00 | $0.00 |
| Capex per share | $0.88 | $0.66 | $0.56 | $0.61 | $0.77 | $0.73 | $0.59 | $0.68 | $0.55 | $0.55 |
| Debt per share | $10.32 | $9.51 | $8.74 | $9.62 | $7.43 | $8.19 | $4.61 | $1.66 | $0.82 | — |
| Shares outstanding | 968.0M | 1.04B | 1.11B | 1.16B | 1.19B | 1.19B | 1.19B | 1.20B | 1.22B | 1.22B |
| Change in shares outstanding | −6.8% | −6.1% | −4.4% | −2.4% | −0.1% | −0.1% | −1.2% | −1.5% | +0.2% | −0.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 25.7% | 20.0% | 20.5% | 11.5% | 20.0% | 22.7% | 15.2% | 13.1% | 11.7% | 9.8% |
| Return on invested capital (ROIC) | 25.7% | 22.9% | 21.2% | 13.3% | 22.6% | 19.3% | 22.4% | 19.4% | 16.5% | 13.6% |
| Return on assets (ROA) | 6.5% | 5.1% | 5.3% | 3.1% | 5.7% | 6.9% | 5.2% | 4.9% | 4.9% | 4.5% |
| Return on tangible assets | 7.6% | 5.9% | 6.0% | 3.6% | 6.6% | 7.0% | 5.5% | 5.7% | 4.9% | 4.9% |
| Free cash flow margin | 16.8% | 21.3% | 14.2% | 18.6% | 19.3% | 25.0% | 21.7% | 30.2% | 14.2% | 23.0% |
| Income quality (OCF / net income) | 1.23 | 1.80 | 1.14 | 2.40 | 1.39 | 1.48 | 1.85 | 2.67 | 1.41 | 2.25 |
| Financial health | ||||||||||
| Total debt | $9.99B | $9.88B | $9.68B | $11.14B | $8.81B | $9.72B | $5.47B | $2.00B | $1.00B | — |
| Cash & short-term investments | $10.42B | $10.82B | $14.06B | $10.85B | $9.50B | $13.08B | $10.76B | $9.11B | $5.70B | $4.97B |
| Net debt | −$435.0M | −$943.0M | −$4.38B | $286.0M | −$689.0M | −$3.36B | −$5.29B | −$7.11B | −$4.70B | −$4.97B |
| Debt / equity | 0.49 | 0.48 | 0.46 | 0.55 | 0.41 | 0.48 | 0.32 | 0.13 | 0.06 | — |
| Debt / assets | 0.12 | 0.12 | 0.12 | 0.14 | 0.12 | 0.14 | 0.11 | 0.05 | 0.02 | — |
| Net debt / EBITDA | −0.06 | −0.14 | −0.64 | 0.06 | −0.12 | −0.52 | −1.31 | −2.20 | −1.56 | −2.11 |
| Current ratio | 1.29 | 1.26 | 1.29 | 1.28 | 1.22 | 1.33 | 1.43 | 1.27 | 1.43 | 1.52 |
| Quick ratio | 1.29 | 1.26 | 1.30 | 1.27 | 1.22 | 1.33 | 1.43 | 1.27 | 1.15 | 1.52 |
| Interest coverage | 13.8 | 13.9 | 14.5 | 12.6 | 18.4 | 15.7 | 23.6 | 28.5 | 303.9 | 528.7 |
| Working capital | $13.32B | $12.72B | $14.10B | $12.42B | $9.54B | $12.55B | $11.58B | $7.06B | $9.78B | $8.86B |
| Invested capital | $19.82B | $19.47B | $16.67B | $20.56B | $21.04B | $16.70B | $11.64B | $8.28B | $11.30B | $9.74B |
| Tangible asset value | $9.18B | $9.25B | $9.49B | $8.28B | $8.94B | $9.88B | $9.94B | $8.28B | $11.49B | $10.44B |
| Net current asset value | −$158.0M | −$102.0M | $1.45B | −$926.0M | −$1.50B | $679.0M | $4.09B | $5.02B | $7.87B | $7.34B |
| Graham number | $50.45 | $42.01 | $40.51 | $28.69 | $38.06 | $36.69 | $25.76 | $22.18 | $20.82 | $17.68 |
| Graham net-net per share | −$14.32 | −$15.55 | −$11.55 | −$12.11 | −$11.16 | −$8.14 | −$2.90 | −$1.38 | $3.11 | $1.25 |
| Capital allocation | ||||||||||
| Dividends paid | $130.0M | $0 | $1.53B | $3.48B | $4.61B | $5.02B | $4.29B | $2.08B | $0 | $0 |
| Share buybacks (net) | $6.05B | $6.05B | $5.00B | $4.20B | $3.37B | $1.64B | $1.41B | $3.52B | $1.01B | $995.0M |
| Dividend payout ratio | 2.5% | 0.0% | 36.0% | 143.7% | 110.5% | 119.4% | 174.6% | 100.9% | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 111.1% | 89.4% | 154.7% | 150.3% | 163.2% | 124.3% | 147.9% | 120.1% | 54.0% | 40.0% |
| Capex / revenue | 2.6% | 2.1% | 2.1% | 2.6% | 3.6% | 4.0% | 4.0% | 5.3% | 5.1% | 6.2% |
| Capex / operating cash flow | 13.3% | 9.2% | 12.9% | 12.1% | 15.7% | 13.9% | 15.4% | 15.0% | 26.4% | 21.2% |
| Capex / depreciation | 0.88 | 0.66 | 0.58 | 0.54 | 0.72 | 0.73 | 0.77 | 1.06 | 0.83 | 0.92 |
| Stock-based compensation / revenue | 3.0% | 3.9% | 5.0% | 4.6% | 5.4% | 6.4% | 5.7% | 5.5% | 5.6% | 4.0% |
| R&D / revenue | 9.4% | 9.4% | 10.0% | 11.8% | 12.0% | 12.3% | 11.7% | 6.9% | 7.3% | 7.7% |
| SG&A / revenue | 12.8% | 13.0% | 13.0% | 15.8% | 18.0% | 18.3% | 17.5% | 18.5% | 18.3% | 18.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 512.4 | 525.8 | 556.3 | 573.9 | 565.0 | 541.9 | 511.8 | 580.5 | 643.4 | 614.5 |
| Days of inventory on hand | — | — | -5.1 | 0.5 | — | — | — | — | 215.0 | — |
| Days payables outstanding | 413.7 | 872.9 | 934.9 | 1,052.5 | 1,198.6 | 1,139.9 | 1,041.0 | 1,114.0 | 1,188.2 | 1,142.6 |
| Cash conversion cycle (days) | 98.7 | -347.0 | -383.7 | -478.2 | -633.6 | -598.0 | -529.2 | -533.5 | -329.8 | -528.1 |
| Receivables turnover | 0.71 | 0.69 | 0.66 | 0.64 | 0.65 | 0.67 | 0.71 | 0.63 | 0.57 | 0.59 |
| Payables turnover | 0.88 | 0.42 | 0.39 | 0.35 | 0.30 | 0.32 | 0.35 | 0.33 | 0.31 | 0.32 |
| Inventory turnover | — | — | — | 808.53 | — | — | — | — | 1.70 | — |
| Asset turnover | 0.41 | 0.39 | 0.37 | 0.36 | 0.35 | 0.35 | 0.38 | 0.37 | 0.35 | 0.35 |
| Average receivables | $46.56B | $45.81B | $45.38B | $43.27B | $39.28B | $31.85B | $24.92B | $24.57B | $23.08B | $18.25B |
| Average payables | $20.07B | $40.99B | $41.15B | $39.64B | $37.35B | $30.21B | $23.30B | $20.92B | $17.68B | $13.88B |
| Average inventory | — | — | −$223.0M | $17.0M | — | — | — | — | $3.20B | $0 |
| Intangibles / total assets | 13.8% | 13.7% | 14.1% | 15.2% | 16.9% | 14.5% | 13.6% | 16.4% | 11.1% | 12.9% |
Computed from PYPL's annual financial statements (latest annual report filed February 3, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
PYPL valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), PayPal traded at 10.8 times earnings, against a 10-year median of 41.7. Based on the latest twelve months, the trailing P/E is 10.7 and the forward P/E is 9.1. PayPal earned a return on equity of 25.7% and a return on invested capital of 25.7% in fiscal 2025. It ended the year with $10.0 billion of debt and $10.4 billion in cash and short-term investments, a net cash position of $435.0 million. It returned $6.2 billion to shareholders: $130.0 million in dividends and $6.1 billion in share buybacks, 111% of free cash flow. The share count fell 20.5% from 1.22B to 968.0M over 9 years.
See the PYPL income statement, the PYPL chart for price history, or the PYPL stock overview for the latest quote and news.
PYPL key metrics FAQ
What is PayPal's P/E ratio?
PayPal's trailing P/E ratio is 10.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.1. At the end of fiscal 2025 it was 10.8, compared with a 10-year median of 41.7.
What is PayPal's EV/EBITDA?
PayPal's enterprise value was 7.3 times EBITDA at the end of fiscal 2025 (enterprise value $56.1 billion, EBITDA $7.7 billion); the current EV/EBITDA is 6.5.
What is PayPal's return on equity?
PayPal's return on equity (ROE) was 25.7% in fiscal 2025: net income of $5.2 billion on average shareholders' equity of $20.3 billion.
What is PayPal's ROIC?
PayPal's return on invested capital was 25.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does PayPal have?
PayPal had total debt of $10.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.49 and more cash than debt.
What is PayPal's dividend yield?
PayPal's forward dividend yield is 0.99%. PayPal paid $130.0 million in dividends in fiscal 2025 ($0.13 per share), a payout ratio of 2.5%.
Does PayPal buy back its shares?
Yes. PayPal spent $6.1 billion on net share repurchases in fiscal 2025 Shares outstanding changed −6.8% over the year, to 968.0M..
What is PayPal's free cash flow yield?
PayPal generated $5.6 billion of free cash flow in fiscal 2025, a free cash flow yield of 9.8% on its market value at year-end ($56.5 billion).
What is PayPal's current ratio?
PayPal's current ratio was 1.29 at the end of fiscal 2025: current assets were 1.29 times current liabilities.