Financials · Transaction & Payment Processing Services · US stock · price as of 16 Oct 2026
Key indicators
Price
$56.70
52-week range
$38.12 – $78.34
Market cap
$52.2B
P/E (trailing)
10.7×
EV / EBITDA
7.5×
Free-cash-flow yield
10.5%
Dividend yield
1.0%
Revenue (last 12 months)
$33.7B
Revenue growth (3y a year)
6.4%
Operating margin
17.9%
Return on invested capital
22.9%
Net debt / EBITDA
0.1×
Fair value
Blended fair value$159.04 range $136 – $170
Versus priceData under review+0% to fair value
Peer multiples
$74.60
Fundamentals-adjusted multiple
$154.91
10-year DCF (market-scaled)
$247.61
Earnings power value (floor, not blended)
$74.85
Model uncertainty
Medium
X-Ray Score
65/ 100 · Medium confidence · ahead of 92% of sector peers
Valuation84
Growth54
Profitability63
Financial health69
Dividends37
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
PayPal operates a digital payments platform that lets consumers and merchants send, receive and accept money online and in stores. Its brands include PayPal, Venmo and Braintree, which handle checkout, peer-to-peer transfers and payment processing for businesses. The company earns money mainly from transaction fees charged on the payments it processes, along with currency conversion charges and income from credit and other financial services offered to account holders.
Sales reached $33.7 billion in the last twelve months, having grown 6.4% a year over the past three years. Operating profit equals 17.9% of revenue. Return on invested capital is 23%. Net debt is 0.1 times of EBITDA. It pays a dividend, and the yield is 1.0%.
StocksXray gives PayPal Holdings, Inc. an X-Ray Score of 65 out of 100 (medium confidence), ahead of 92% of the S&P 500 stocks in its sector. Its strongest lens is valuation (84) and its weakest is dividends (37).
Our fair value blend is $159.04 (range $135.88 to $170.15). At $56.70 the stock trades 64% below that blend, so the label is "Data under review" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
PayPal Holdings, Inc. (PYPL)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$186.50
$70.43
$60.73
$84.41
$57.87
$56.70
Market cap
$221.2B
$81.6B
$67.2B
$87.7B
$56.0B
$52.2B
P/E
53.0×
33.7×
15.8×
21.2×
10.7×
10.7×
EV / revenue
8.7×
2.9×
2.1×
2.7×
1.7×
1.5×
EV / EBITDA
39.8×
15.7×
10.3×
13.6×
7.9×
7.5×
Price / free cash flow
45.2×
16.0×
15.9×
13.0×
10.1×
9.5×
Free-cash-flow yield
2.2%
6.3%
6.3%
7.7%
9.9%
10.5%
Price / book
10.2×
4.0×
3.2×
4.3×
2.8×
2.6×
Dividend yield
–
–
–
–
0.24%
0.99%
Fundamentals checklist ● 9 Good · ● 4 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−1.7%Average
Free-cash-flow yield10.5%Good
Risk models
Altman Z score3.2×Average
Piotroski F-Score9 of 9Good
Growth
EPS growth (3y)37.3%Good
Free-cash-flow growth (3y)2.9%Average
Revenue growth (3y)6.4%Average
Growth consistency100%Good
Balance sheet
Current ratio1.3×Good
Net debt / EBITDA0.1×Good
Interest cover13.4×Bad
Valuation
Fair value vs price2.8×Good
EBIT / EV yield11.4%Good
Profitability
Return on invested capital22.9%Good
Operating margin17.9%Bad
XStocksXray
PayPal Holdings, Inc. (PYPL)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
25,371
27,518
29,771
31,797
33,172
33,734
Gross profit
–
–
–
–
–
–
Operating income
4,262
3,837
5,028
5,325
6,065
6,023
Net income
4,169
2,419
4,246
4,147
5,233
5,059
Diluted EPS ($)
3.52
2.09
3.84
3.99
5.41
5.29
Free cash flow
4,889
5,107
4,220
6,767
5,564
5,503
Gross margin
–
–
–
–
–
–
Operating margin
16.8%
13.9%
16.9%
16.7%
18.3%
17.9%
Net margin
16.4%
8.8%
14.3%
13.0%
15.8%
15.0%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
75,803
78,624
82,166
78,725
80,173
80,546
Cash
5,197
7,776
9,081
6,662
8,049
6,977
Total debt
8,049
10,417
9,676
9,879
9,987
9,409
Equity
21,727
20,274
21,051
20,417
20,256
20,024
Dividend per share ($)
–
–
–
–
0.14
–
Revenue and net income US$ billions: navy revenue, teal net income
Margins blue gross, teal operating, brown net
Latest quarters
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026
Revenue ($M)
8,366
7,791
8,288
8,417
8,676
8,353
Growth vs a year earlier
+4.2%
+1.2%
+5.1%
+7.3%
+3.7%
+7.2%
Net income ($M)
1,121
1,287
1,261
1,248
1,437
1,113
Diluted EPS ($)
–
1.29
1.29
1.30
–
1.21
XStocksXray
PayPal Holdings, Inc. (PYPL)
Peers in Transaction & Payment Processing Services
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.