PayPal Holdings, Inc.
- Open
- 54.82
- Day high
- 56.96
- Day low
- 54.01
- Prev close
- 54.67
- Volume
- 15.1M
- Mkt cap
- $47.6B
- P/E (TTM)
- 10.5
- EPS (TTM)
- $5.44
- P/B
- 2.4
- P/S
- 1.4
- Yield
- 0.75%
- Per share
- $0.42
- ▼Insiders net selling -$119K over the last 3 months (1 open-market buy, 4 sales)
- 🏛Institutions reducing (13F)
PayPal Holdings, Inc. (PYPL) is a Financial Services company listed on NASDAQ. The stock is down 22% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 4 sales (SEC Form 4). Drillr has 3 published research articles covering PYPL.
PayPal Holdings, Inc. (PYPL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 19 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PYPL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 28, 2026 | $1.28 | $1.38 | +7.8% | $8.7B | +2.5% |
| May 5, 2026 | $1.27 | $1.34 | +5.5% | $8.4B | +3.8% |
| Feb 3, 2026 | $1.29 | $1.23 | -4.7% | $8.8B | -0.3% |
| Jul 29, 2025 | $1.30 | $1.40 | +7.7% | $8.3B | +2.5% |
| Feb 4, 2025 | $1.11 | $1.19 | +7.2% | $8.4B | +1.3% |
| Jul 30, 2024 | $0.99 | $1.19 | +20.2% | $7.9B | +0.5% |
| Feb 7, 2024 | $1.36 | $1.48 | +8.8% | $8.0B | +2.0% |
| Nov 1, 2023 | $1.22 | $1.30 | +6.6% | $7.4B | +6.5% |
| Aug 2, 2023 | $1.16 | $1.16 | +0.0% | $7.3B | +0.2% |
| Feb 9, 2023 | $1.20 | $1.24 | +3.3% | $7.4B | -0.1% |
| Nov 3, 2022 | $0.96 | $1.08 | +12.5% | $6.8B | +0.4% |
| Aug 2, 2022 | $0.85 | $0.93 | +9.4% | $6.8B | +0.4% |
PYPL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 19, 2026 | Kereere Suzanofficer: President, Global Markets | Sell | 3,362 | $60.86 |
| Aug 19, 2026 | Kereere Suzanofficer: President, Global Markets | Sell | 800 | $61.41 |
| Aug 17, 2026 | Kereere Suzanofficer: President, Global Markets | Tax | 4,341 | $61.66 |
| Aug 17, 2026 | Kereere Suzanofficer: President, Global Markets | Option | 8,503 | — |
| Jul 30, 2026 | Natali Chrisofficer: SVP, Chief Accounting Officer | Sell | 1,337 | $58.10 |
| Jul 30, 2026 | Keller Frankofficer: Pres., Checkout Sol. & PayPal | Sell | 732 | $58.10 |
| Jul 16, 2026 | Webster Aaronofficer: EVP, Global Chief Risk Officer | Tax | 3,883 | $47.37 |
| Jul 16, 2026 | Webster Aaronofficer: EVP, Global Chief Risk Officer | Option | 5,901 | — |
| Jul 16, 2026 | Webster Aaronofficer: EVP, Global Chief Risk Officer | Option | 2,622 | — |
| Jul 16, 2026 | Keller Frankofficer: Pres., Checkout Sol. & PayPal | Option | 1,639 | — |
| Jul 16, 2026 | Natali Chrisofficer: SVP, Chief Accounting Officer | Option | 2,726 | — |
| Jul 16, 2026 | Natali Chrisofficer: SVP, Chief Accounting Officer | Tax | 943 | $47.37 |
| Jul 16, 2026 | Keller Frankofficer: Pres., Checkout Sol. & PayPal | Tax | 907 | $47.37 |
| Jun 17, 2026 | Miller Jamie Sofficer: Chief Fin & Op Officer | Tax | 6,129 | $41.53 |
| Jun 16, 2026 | Miller Jamie Sofficer: Chief Fin & Op Officer | Option | 2,910 | — |
Source: PYPL SEC Form 4 filings, latest Aug 19, 2026. For informational purposes only — not investment advice.
See the full PYPL insider & 13F page →PYPL research & analysis
[PYPL] PayPal Thesis 2026: Branded Checkout Defense + Braintree Margin Recovery + Venmo Monetization Test Strategic Refocus
PayPal Holdings FY2025 revenue ~$33B (+3-5% YoY) with adj. operating margin recovering to 22-23% and adj. EPS ~$5.20. Total payment volume reached $1.78T (active accounts stable ~430M post-pandemic normalization). Aggressive share repurchase program ($5-6B annual buybacks) reduced diluted shares from ~1,150M FY2022 to ~990M FY2025 (~14% reduction over 3 years). Revenue mix: Branded Checkout (~46% — iconic PayPal button at 30M+ merchants), Unbranded/Braintree (~33% — white-label processing for Apple iOS + selected enterprise, undergoing pricing optimization under Chriss), Venmo + Other (~21% — Venmo 80M+ users with monetization opportunity). CEO Alex Chriss strategic refocus since Sept 2023: deliberate concentration on core branded checkout + selected divestitures (Honey/Happy Returns wind-down). FY2026 thesis: branded checkout monetization + Braintree margin expansion + Venmo monetization scaling toward $1-2B by FY2027; key risks: competitive intensity from Apple Pay/Google Pay/BNPL providers, branded checkout share compression.
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PayPal Holdings, Inc. company profile
Overview
PayPal Holdings, Inc. (NASDAQ:PYPL) is a leading digital payments company that was founded in 1998 and spun off from eBay in 2015 as an independent public company. Originally created as a simple online payment system for eBay transactions, PayPal has evolved into a comprehensive digital payments platform serving both consumers and merchants globally. The company operates from its headquarters in San Jose, California, and has become one of the world's largest digital payment processors, handling over $1.7 trillion in total payment volume annually across approximately 200 markets and 100 currencies.
Business
PayPal operates in the digital payments industry, which serves as the technological backbone for online commerce and peer-to-peer money transfers. The company's core business revolves around facilitating electronic transactions between buyers and sellers, eliminating the need for traditional payment methods like cash or checks in digital environments. The company's primary offering is its PayPal platform, which allows users to send and receive money, make online purchases, and store payment methods securely in digital wallets. When a consumer makes a purchase online, PayPal acts as an intermediary - the buyer pays PayPal, and PayPal then transfers the funds to the merchant, providing security and convenience for both parties. This system protects sensitive financial information since merchants never see the buyer's actual credit card or bank account details. PayPal operates several distinct business segments: 1. Branded Checkout Services (approximately 60% of revenue): This includes the traditional PayPal wallet experience where consumers log into their PayPal accounts to complete purchases. This segment also encompasses Venmo, PayPal's peer-to-peer payment app popular among younger consumers, which has evolved to include merchant payments and a debit card offering. 2. Unbranded Processing Services (approximately 30% of revenue): Operating primarily through Braintree, this segment provides payment processing infrastructure for merchants who want to accept various payment methods without displaying the PayPal brand. This includes processing credit cards, digital wallets, and alternative payment methods behind the scenes. 3. Value-Added Services (approximately 10% of revenue): This includes PayPal Credit and Buy Now, Pay Later financing options, international money transfer services through Xoom, point-of-sale solutions via Zettle, and the Honey browser extension that finds coupon codes and cashback offers for online shoppers. The company has been strategically transforming from a simple payments processor into a comprehensive commerce platform that offers merchants additional services like advertising, analytics, and customer acquisition tools.
Revenue model
PayPal generates revenue through multiple streams, primarily earning money by charging fees on transactions processed through its platform. The company operates on a transaction-based model where it collects a small percentage of each payment processed, typically ranging from 2.9% to 3.5% plus a fixed fee per transaction for merchants. For branded checkout services, PayPal charges merchants a fee when consumers pay using PayPal or Venmo. The company also earns revenue from consumers through Venmo's debit card interchange fees and Pay with Venmo transactions. Additionally, PayPal generates interest income from customer cash balances held in PayPal accounts and from its credit and Buy Now, Pay Later lending products. For unbranded processing services through Braintree, PayPal earns processing fees from merchants for handling credit card and alternative payment method transactions. The company also provides value-added services like fraud protection and analytics for additional fees. The value-added services segment generates revenue through lending products (PayPal Credit and Buy Now, Pay Later), international transfer fees via Xoom, point-of-sale hardware and software subscriptions through Zettle, and advertising revenue from Honey's merchant partnerships. Several factors influence PayPal's profitability margins. Positive margin drivers include the shift toward higher-margin branded checkout experiences, growth in Venmo monetization, expansion of value-added services, and operational efficiency improvements through AI and automation. The company benefits from economies of scale as transaction volumes increase, spreading fixed costs across more transactions. Margin pressures come from competitive pricing in the payments industry, regulatory changes affecting interchange fees, credit losses from lending products, and the need for continuous technology investments. The company also faces pressure from alternative payment methods and must invest in new product development to maintain market share. Additionally, macroeconomic factors affecting consumer spending and e-commerce growth directly impact transaction volumes and revenue.
Competitive moat
PayPal's competitive moat is moderately strong but faces increasing challenges from multiple directions. The company's primary moat stems from its network effects - with over 400 million active accounts globally, PayPal creates value for both merchants and consumers through its large user base. Merchants want to accept PayPal because many consumers prefer it, while consumers use PayPal because it's widely accepted. The company also benefits from switching costs and habit formation. Once consumers store their payment information and transaction history with PayPal, and merchants integrate PayPal's checkout systems, there's friction involved in switching to alternatives. PayPal's brand recognition and trust, built over decades, provides additional protection, particularly important in financial services where security concerns are paramount. However, PayPal's moat is being eroded by several competitive threats. Big Tech companies like Apple (Apple Pay), Google (Google Pay), and Amazon have entered the payments space with significant resources and existing customer relationships. These companies can afford to subsidize payment services as loss leaders to support their broader ecosystems. Traditional financial institutions are also fighting back with improved digital offerings, while fintech startups like Stripe, Square, and numerous Buy Now, Pay Later providers are capturing market share with innovative solutions. The payments industry is becoming increasingly commoditized, with differentiation becoming harder to maintain. Additionally, regulatory risks pose threats to PayPal's business model, as governments worldwide are implementing open banking regulations and payment system reforms that could reduce barriers to entry and increase competition. The company's moat, while still meaningful, is narrower than it was a decade ago and requires continuous innovation and strategic partnerships to maintain.
Risks & safety
PayPal demonstrates a strong margin of safety with solid financial fundamentals and manageable risk levels. • Liquidity and Solvency: Strong balance sheet with $6.6 billion in cash and short-term investments, current ratio of 1.26, and debt-to-equity ratio of 0.48. The company generates substantial free cash flow of $6.8 billion annually, providing ample liquidity for operations and growth investments. • Valuation Metrics: Trading at reasonable multiples with P/E ratio of 21.2x (based on 2024 earnings), EV/EBITDA of 13.5x, and price-to-book ratio of 4.3x. These metrics are elevated but not excessive for a profitable technology company with steady cash generation. • Profitability: Consistent profitability with 20% return on equity and healthy EBITDA margins around 21%. The company has demonstrated ability to maintain margins while investing in growth. • Other Considerations: Credit risk exposure through lending products is manageable and well-reserved. Regulatory compliance costs are significant but predictable. The company's diversified revenue streams across multiple geographies and business segments provide some protection against localized disruptions.
Recent development
Over the past few years, PayPal has undergone a significant strategic transformation from a traditional payments processor to a comprehensive commerce platform. The company has focused on four key strategic priorities: winning checkout, scaling omnichannel presence, growing Venmo, and accelerating small business solutions. A major development has been the launch of Fastlane, a guest checkout solution that allows merchants to offer streamlined payment experiences without requiring customers to create PayPal accounts. This product addresses the large guest checkout market and has been adopted by nearly 2,000 merchants since its launch. PayPal has significantly enhanced its mobile and checkout experiences, implementing AI-driven personalization and reducing transaction latency. The company reports conversion improvements of 100-400 basis points from these modernization efforts. The introduction of biometric authentication and passwordless login has further improved user experience. The company has expanded Venmo's monetization beyond peer-to-peer payments, introducing a debit card, Pay with Venmo for online merchants, and various financial services. Venmo has achieved 20% revenue growth and represents a key growth driver for the company's consumer business. PayPal has also invested heavily in artificial intelligence and automation, using AI for customer support, fraud detection, personalized commerce experiences, and operational efficiency improvements. The company has developed an advertising platform and introduced crypto rewards for its PYUSD stablecoin. Strategic partnerships have been crucial, with PayPal announcing collaborations with major players like Fiserv, Adyen, Amazon, Global Payments, and Shopify to expand its reach and capabilities. The company has also focused on international expansion, particularly in European markets for Buy Now, Pay Later services.
PYPL company profile · for informational purposes only — not investment advice.
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