PayPal Holdings, Inc. Financial Ratios — PYPL Stock

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	367.66	102.37	60.93	42.4	34.58	40.58	28.85	13.63	20.15	16.41	17.5
Return on Assets (%)	- -	9.97	2.04	4.83	4.52	4.86	4.89	5.2	6.9	5.7	3.13	5.28	5.16	6.59
Return on Capital (%)	- -	118.49	27.11	114.39	102.56	52.26	33.44	24.06	25.22	- -	9.6	14.52	12.68	14.06
Return on Invested Capital (%)	- -	21.27	4.48	10.58	9.54	11.57	12.55	11.61	11.13	- -	9.3	12.47	14.7	17.57
Gross Margin (%)	66.74	65.26	64.91	63.03	59.1	58.53	55.63	54.03	54.9	55.17	50.05	46.03	46.1	46.62
EBITDA Margin (%)	22.62	22.95	22.23	22.89	21.31	23.4	21.22	20.83	21.52	22.03	19.48	20.21	21.37	22.18
Operating Margin (%)	15.88	16.22	15.8	16.32	14.63	17.25	16.2	15.7	15.98	17.04	14.7	16.61	18.12	19.28
Incremental Operating Margin (%)	- -	18.03	13.64	19.71	4.83	29.88	10.35	12.37	17.33	22.87	-13.04	39.95	40.42	46.04
Pretax Margin (%)	15.74	16.11	15.71	16.09	15.04	16.8	15.38	16.87	23.61	16.16	12.23	18.18	16.76	18.97
Profit Margin (%)	13.74	14.2	5.22	13.28	12.92	13.71	13.31	13.84	19.59	16.43	8.79	14.26	13.04	15.78
Net Income to Common Margin (%)	13.74	14.2	5.22	13.28	12.92	13.71	13.31	13.84	19.59	16.43	8.79	14.26	13.04	15.78
Effective Tax Rate (%)	12.68	11.9	66.77	17.47	14.1	18.41	13.43	17.98	17.04	- -	28.13	21.53	22.18	16.83
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.48
Sustainable Growth Rate (%)	- -	- -	- -	367.66	102.37	60.93	42.4	34.58	40.58	28.85	13.63	20.15	16.41	17.06

Credit (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	1,612	1,479	- -	- -	1,000	1,998	4,965	8,939	9,048	10,417	9,676	9,879	9,987
ST Debt	- -	1,103	1,093	- -	- -	1,000	1,998	- -	- -	999	- -	- -	- -	- -
LT Debt	- -	509	386	- -	- -	- -	- -	4,965	8,939	8,049	10,417	9,676	9,879	9,987
Total Debt/EBITDA	- -	1.04	0.83	- -	- -	0.33	0.61	1.34	1.94	1.62	1.94	1.61	1.45	1.36
Net Debt/EBITDA	- -	0.01	-0.4	-0.66	-0.69	-0.61	-1.7	-0.64	0.9	0.69	0.49	0.1	0.47	0.26
Total Debt/EBIT	- -	1.48	1.17	- -	- -	0.44	0.8	1.78	2.61	2.09	2.58	1.96	1.71	1.56
Net Debt/EBIT	- -	0.01	-0.57	-0.92	-1	-0.83	-2.23	-0.85	1.21	0.89	0.65	0.12	0.56	0.3
EBITDA to Interest Expense	- -	- -	- -	- -	770	437.71	42.58	32.19	22.09	24.09	17.63	17.34	17.79	16.69
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	547	342.43	31.9	26.07	17.95	20.18	15.31	15.54	16	14.76
EBIT to Interest Expense	- -	- -	- -	- -	528.67	322.71	32.51	24.26	16.4	18.64	13.3	14.25	15.09	14.5
Interest Expense	- -	- -	- -	- -	3	7	77	115	209	232	304	347	382	441
Common Equity/Total Assets	- -	- -	- -	2.31	6.25	9.38	13.57	16.25	17.57	21.81	24.11	28.24	34.74	40.5
Long-Term Debt/Equity (%)	- -	6.89	4.68	- -	- -	- -	- -	29.33	44.55	37.05	51.38	45.96	48.39	49.3
Long-Term Debt/Capital (%)	- -	31.58	26.1	- -	- -	- -	- -	37.19	41.87	31.46	35.47	29.43	26.54	23.52
Long-Term Debt/Total Assets (%)	- -	2.66	1.76	- -	- -	- -	- -	9.67	12.7	10.62	13.25	11.78	12.55	12.46
Total Debt/Equity (%)	- -	21.81	17.93	- -	- -	6.25	12.99	29.33	44.55	41.64	51.38	45.96	48.39	49.3
Total Debt/Capital (%)	- -	100	100	- -	- -	20.73	25.36	37.19	41.87	35.37	35.47	29.43	26.54	23.52
Total Debt/Total Assets (%)	- -	8.41	6.75	- -	- -	2.45	4.61	9.67	12.7	11.94	13.25	11.78	12.55	12.46
Net Debt to Equity	- -	0.11	-8.75	-10.12	-10.81	-11.77	-36.25	-14.08	20.66	17.72	13.03	2.83	15.76	9.57
Net Debt/Capital (%)	- -	100	100	192.14	-331.94	-97.06	-1,840.59	-39.72	25.04	18.89	12.23	2.5	10.53	5.63
EBITDA	1,281	1,544	1,784	2,117	2,310	3,064	3,279	3,702	4,617	5,589	5,361	6,016	6,795	7,359
EBITDA-CapEx	770	1,153	1,292	1,395	1,641	2,397	2,456	2,998	3,751	4,681	4,655	5,393	6,112	6,507
Operating Income (Loss)	899	1,091	1,268	1,509	1,586	2,259	2,503	2,790	3,428	4,324	4,044	4,944	5,763	6,396

Liquidity (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	0.17	0.17	0.25	0.29	0.25	0.35	0.4	0.34	0.22	0.24	0.29	0.24	0.22
Current Ratio	- -	1.3	1.32	1.52	1.52	1.43	1.27	1.43	1.33	1.22	1.28	1.29	1.28	1.29
Quick Ratio	- -	1.27	1.29	1.47	1.48	1.4	1.24	1.4	1.3	1.19	1.23	1.24	1.24	1.25
CFO/Avg Current Liab	- -	0.35	0.18	0.19	0.21	0.13	0.22	0.15	0.19	0.14	0.13	0.1	0.16	0.14
Common Equity/Total Assets	- -	- -	- -	2.31	6.25	9.38	13.57	16.25	17.57	21.81	24.11	28.24	34.74	40.5
Long-Term Debt/Equity (%)	- -	6.89	4.68	- -	- -	- -	- -	29.33	44.55	37.05	51.38	45.96	48.39	49.3
Long-Term Debt/Capital (%)	- -	31.58	26.1	- -	- -	- -	- -	37.19	41.87	31.46	35.47	29.43	26.54	23.52
Long-Term Debt/Total Assets (%)	- -	2.66	1.76	- -	- -	- -	- -	9.67	12.7	10.62	13.25	11.78	12.55	12.46
Total Debt/Equity (%)	- -	21.81	17.93	- -	- -	6.25	12.99	29.33	44.55	41.64	51.38	45.96	48.39	49.3
Total Debt/Capital (%)	- -	100	100	- -	- -	20.73	25.36	37.19	41.87	35.37	35.47	29.43	26.54	23.52
Total Debt/Total Assets (%)	- -	8.41	6.75	- -	- -	2.45	4.61	9.67	12.7	11.94	13.25	11.78	12.55	12.46
CFO/Total Liabilities	- -	16.93	16.24	16.84	17.17	10.21	19.61	11.83	12.36	10.72	9.96	7.92	12.78	10.71
CFO/CapEx	3.06	5.1	4.51	3.53	4.72	3.79	6.66	5.78	7.18	6.38	8.23	7.77	10.91	7.53
Altman's Z-Score	- -	0.91	0.93	2.72	2.58	3.18	3.25	3.4	4.36	3.63	2.08	2.02	2.45	2.24

Working Capital (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	1.44	0.8	0.8	0.8	0.79	0.79	0.82	0.75	0.72	0.74	0.77	0.81	0.85
Days Sales Outstanding	- -	253.09	454.97	455.36	454.06	461.37	459.47	445.03	484.51	510.26	491.88	473.44	451.47	427.44
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	0.5	0.28	0.3	0.32	0.31	0.33	0.35	0.32	0.3	0.35	0.39	0.42	0.44
Accounts Payable Turnover Days	- -	730.16	1,301.16	1,234.8	1,142.62	1,188.23	1,113.96	1,040.99	1,139.88	1,198.61	1,051.29	933.84	872.86	828
Cash Conversion Cycle	- -	-477.07	-846.19	-779.44	-688.56	-726.87	-654.49	-595.96	-655.37	-688.35	-559.41	-460.41	-421.39	-400.56
Inventory to Cash Days	- -	253.09	454.97	455.36	454.06	461.37	459.47	445.03	484.51	510.26	491.88	473.44	451.47	427.44
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	- -	44,236	47,759	88,565	99,563	126,992	274,717	221,393	82,188	67,735	87,825	55,986
- Cash & Cash Equivalents	- -	1,604	2,201	1,393	1,590	2,883	7,575	7,349	4,794	5,197	7,776	9,081	6,662	8,049
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	44	44	- -	- -	- -	- -	- -
+ Total Debt	- -	1,612	1,479	- -	- -	1,000	1,998	4,965	8,939	9,048	10,417	9,676	9,879	9,987
Enterprise Value	- -	-313	-751	40,825	42,784	83,870	92,452	121,240	270,617	221,050	81,754	63,354	86,781	55,551
Total Capital	- -	1,612	1,479	668	2,069	4,823	7,878	13,351	21,349	25,583	29,371	32,876	37,226	42,457
Total Debt/Capital (%)	- -	100	100	- -	- -	20.73	25.36	37.19	41.87	35.37	35.47	29.43	26.54	23.52
Total Debt / EV	- -	-5.15	-1.97	- -	- -	0.01	0.02	0.04	0.03	0.04	0.13	0.15	0.11	0.18
EV/Sales	- -	- -	- -	4.41	3.95	6.41	5.98	6.82	12.61	8.71	2.97	2.13	2.73	1.67
EV/EBITDA	- -	- -	- -	19.28	18.52	27.37	28.2	32.75	58.61	39.55	15.25	10.53	12.77	7.55
EV/EBIT	- -	- -	- -	27.05	26.98	37.13	36.94	43.46	78.94	51.12	20.22	12.81	15.06	8.69
EV/Cash Flow to Firm	- -	- -	- -	16.04	13.54	33.06	16.67	29.11	42.33	36.64	13.55	12.39	11.2	8.19
EV/Free Cash Flow to Firm	- -	- -	- -	12.49	11.17	26.18	14.51	24.9	37.28	31.85	12.13	11.04	10.29	7.28
Diluted Market Cap	- -	- -	- -	44,490	48,074	89,890	101,160	128,506	277,995	223,656	82,473	67,981	88,679	56,512
Diluted Enterprise Value	- -	8	-722	43,097	46,484	88,007	95,583	126,166	282,184	227,507	85,114	68,576	91,896	58,450
EV per Share	- -	- -	- -	33.41	35.36	69.72	78.08	103.27	230.7	188.29	70.84	57.44	84.34	57.93
TTM Sales	5,662	6,727	8,025	9,248	10,842	13,094	15,451	17,772	21,454	25,371	27,518	29,771	31,797	33,172
TTM EBITDA	1,281	1,544	1,784	2,117	2,310	3,064	3,279	3,702	4,617	5,589	5,361	6,016	6,795	7,359
TTM Operating Income	899	1,091	1,268	1,509	1,586	2,259	2,503	2,790	3,428	4,324	4,044	4,944	5,763	6,396
TTM Cash Flow to Firm	1,565	1,993	2,220	2,546	3,161	2,537	5,547	4,165	6,392	6,033	6,031	5,115	7,747	6,783
TTM Free Cash Flow to Firm	2,076	2,384	2,712	3,268	3,830	3,204	6,370	4,869	7,258	6,941	6,737	5,738	8,430	7,635

Multiples (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	- -	13.61	12.56	28.11	16.05	26.91	39.24	33.36	12.65	12.44	10.9	7.78
EV/EBIT	- -	- -	- -	27.05	26.98	37.13	36.94	43.46	78.94	51.12	20.22	12.81	15.06	8.69
Enterprise Value	- -	-313	-751	40,825	42,784	83,870	92,452	121,240	270,617	221,050	81,754	63,354	86,781	55,551
Low Price	- -	- -	- -	30	30.52	39.02	70.22	81.91	82.07	179.15	66.39	50.25	55.77	55.85
EV/Sales	- -	- -	- -	4.41	3.95	6.41	5.98	6.82	12.61	8.71	2.97	2.13	2.73	1.67
EV/EBITDA	- -	- -	- -	19.28	18.52	27.37	28.2	32.75	58.61	39.55	15.25	10.53	12.77	7.55
Price/Earnings	- -	- -	- -	36.02	34.09	49.34	48.4	51.64	65.38	53.1	33.98	15.95	21.18	10.7
Price/Earnings Average	- -	- -	- -	35.43	33.05	37.43	47.55	50.16	45.09	71.57	46.27	17.37	17.15	12.89
Price/Earnings High	- -	- -	- -	42.34	38.45	53.2	53.93	58	68.18	87.34	93.55	23.02	23.24	17.09
Price/Earnings Low	- -	- -	- -	29.85	26.36	26.15	40.42	39.11	22.91	50.45	31.67	13.05	13.84	10.24
Price/Book Value	- -	- -	- -	66.22	23.08	23.17	16.93	15.22	22.22	13.39	4.34	2.92	3.21	1.72
Price/Book Value Average	- -	- -	- -	65.13	22.38	17.58	16.63	14.79	15.32	18.05	5.91	3.18	2.6	2.08
Price/Book Value High	- -	- -	- -	77.84	26.04	24.98	18.87	17.1	23.17	22.02	11.94	4.21	3.52	2.75
Price/Book Value Low	- -	- -	- -	54.88	17.85	12.28	14.14	11.53	7.78	12.72	4.04	2.39	2.1	1.65
Price/Tangible Book Value	- -	- -	- -	4.74	4.57	7.71	12.03	12.78	27.81	24.76	9.93	7.14	9.49	6.1
Price/Tangible Book Value Average	- -	- -	- -	4.66	4.43	5.85	11.82	12.41	19.18	33.37	13.52	7.77	7.68	7.35
Price/Tangible Book Value High	- -	- -	- -	5.57	5.16	8.31	13.4	14.35	29	40.73	27.34	10.3	10.41	9.74
Price/Tangible Book Value Low	- -	- -	- -	3.93	3.54	4.09	10.04	9.68	9.74	23.52	9.26	5.84	6.2	5.83
Price/Sales	- -	- -	- -	4.78	4.4	6.76	6.44	7.15	12.8	8.73	2.99	2.28	2.76	1.69
Price/Sales Average	- -	- -	- -	4.7	4.27	5.13	6.33	6.94	8.83	11.76	4.07	2.48	2.24	2.03
Price/Sales High	- -	- -	- -	5.62	4.97	7.29	7.18	8.02	13.35	14.35	8.22	3.28	3.03	2.7
Price/Sales Low	- -	- -	- -	3.96	3.41	3.58	5.38	5.41	4.49	8.29	2.78	1.86	1.8	1.61
Price/Cash Flow	- -	- -	- -	17.37	15.12	34.99	18.17	31.19	44.17	38.19	14.14	13.99	11.79	8.73
Price/Cash Flow Average	- -	- -	- -	17.09	14.66	26.55	17.85	30.3	30.47	51.47	19.26	15.23	9.54	10.51
Price/Cash Flow High	- -	- -	- -	20.42	17.06	37.73	20.24	35.03	46.07	62.81	38.93	20.18	12.94	13.94
Price/Cash Flow Low	- -	- -	- -	14.4	11.69	18.55	15.17	23.62	15.48	36.28	13.18	11.44	7.7	8.35
Price/Free Cash Flow Average	- -	- -	- -	13.39	12.18	21.33	15.77	26.14	27.06	44.96	17.23	13.54	8.83	9.37
Price/Free Cash Flow High	- -	- -	- -	16	14.17	30.31	17.88	30.22	40.92	54.86	34.83	17.95	11.97	12.42
Price/Free Cash Flow Low	- -	- -	- -	11.28	9.71	14.9	13.4	20.38	13.75	31.69	11.79	10.18	7.12	7.44
EV/Sales Average	- -	- -	- -	4.55	4.12	4.99	5.97	6.81	9.03	11.91	4.16	2.5	2.34	2.09
EV/Sales High	- -	- -	- -	5.47	4.82	7.15	6.82	7.89	13.55	14.5	8.32	3.3	3.13	2.75
EV/Sales Low	- -	- -	- -	3.81	3.26	3.44	5.02	5.28	4.68	8.44	2.88	1.88	1.91	1.67
EV/EBITDA Average	- -	0.01	-0.4	19.89	19.36	21.32	28.13	32.69	41.94	54.08	21.37	12.36	10.94	9.43
EV/EBITDA High	- -	0.01	-0.4	23.9	22.63	30.55	32.13	37.89	62.96	65.84	42.7	16.35	14.66	12.42
EV/EBITDA Low	- -	0.01	-0.4	16.66	15.3	14.71	23.65	25.34	21.76	38.32	14.78	9.31	8.92	7.54
EV/EBIT Average	- -	0.01	-0.57	27.91	28.19	28.91	36.85	43.37	56.49	69.9	28.33	15.04	12.9	10.85
EV/EBIT High	- -	0.01	-0.57	33.53	32.96	41.44	42.1	50.28	84.8	85.1	56.61	19.89	17.28	14.28
EV/EBIT Low	- -	0.01	-0.57	23.37	22.28	19.95	30.99	33.63	29.3	49.53	19.6	11.33	10.52	8.68
Last Price	- -	- -	- -	36.2	39.47	73.62	84.09	108.17	234.2	188.58	71.22	61.41	85.35	58.38
High Price	- -	- -	- -	42.55	44.52	79.39	93.7	121.48	244.25	310.16	196.1	88.62	93.66	93.25
Enterprise Value Average	- -	8	-722	42,114	44,711	65,311	92,226	121,009	193,658	302,242	114,580	74,333	74,318	69,398
Enterprise Value High	- -	8	-722	50,603	52,279	93,617	105,364	140,278	290,694	367,979	228,940	98,348	99,593	91,365
Enterprise Value Low	- -	8	-722	35,267	35,339	45,058	77,563	93,822	100,457	214,173	79,249	56,021	60,604	55,498

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	- -	1,220	1,221	1,224	1,207	1,200	1,174	1,173	1,172	1,168	1,136	1,072	993	920
Diluted Weighted Avg Shares	1,188	1,188	1,224	1,229	1,218	1,221	1,203	1,188	1,187	1,186	1,158	1,107	1,039	968
Basic Weighted Avg Shares	1,171	1,171	1,218	1,222	1,210	1,203	1,184	1,174	1,173	1,174	1,154	1,103	1,029	959
Revenue per Share	4.84	5.74	6.59	7.57	8.96	10.88	13.05	15.14	18.29	21.61	23.85	26.99	30.9	34.59
EBITDA per Share	1.09	1.32	1.46	1.73	1.91	2.55	2.77	3.15	3.94	4.76	4.65	5.45	6.6	7.67
Operating Income per Share	0.77	0.93	1.04	1.23	1.31	1.88	2.11	2.38	2.92	3.68	3.5	4.48	5.6	6.67
Basic EPS, GAAP	0.66	0.82	0.34	1	1.16	1.49	1.74	2.09	3.58	3.55	2.1	3.85	4.03	5.46
Basic EPS from Cont Ops	0.66	0.82	0.34	1	1.16	1.49	1.74	2.09	3.58	3.55	2.1	3.85	4.03	5.46
Diluted EPS, GAAP	0.65	0.8	0.34	1	1.15	1.47	1.71	2.07	3.54	3.52	2.09	3.84	3.99	5.41
Diluted EPS from Cont Ops	0.65	0.8	0.34	1	1.15	1.47	1.71	2.07	3.54	3.52	2.09	3.84	3.99	5.41
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.14
Cash Flow per Share	1.34	1.7	1.82	2.08	2.61	2.1	4.63	3.47	5.3	4.94	5.04	4.39	7.24	6.69
Free Cash Flow per Basic Share	0.9	1.37	1.42	1.49	2.06	1.55	3.93	2.87	4.56	4.16	4.43	3.83	6.58	5.8
Cash & Equivalents per Share	- -	1.64	1.83	2.79	4.11	4.73	7.69	9.17	11.15	8	9.4	12.74	10.62	10.87
Book Value per Share	- -	- -	- -	0.55	1.71	3.18	4.97	7.11	10.54	14.08	16.42	21.03	26.58	33.86
Tangible Book Value per Share	- -	3.37	4.03	7.64	8.63	9.55	6.99	8.47	8.42	7.62	7.17	8.6	8.99	9.58

PayPal Holdings, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)