Cash flow PayPal Holdings, Inc.

Equities

PYPL

US70450Y1038

Business Support Services

Market Closed - Nasdaq Other stock markets 04:00:00 2025-01-24 pm EST			5-day change	1st Jan Change
89.11 ^USD	-0.69%		-2.94%	+4.41%

Jan. 24	Piper Sandler Adjusts Price Target on PayPal Holdings to $93 From $88, Keeps Neutral Rating	MT
Jan. 23	Sector Update: Financial Stocks Advance Late Afternoon	MT

69f693f8d0a.atgrjMpbnZNbqggF5lkVKQuIqpAWoTLyaEFHEfsd7TE.C7NF9vpo2d8M738wk28mQHL6z6VU42G9HGw_fchbv2Iuux7DiD3H_RieMA

Published financial data: PAYPAL HOLDINGS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	17.77B	21.45B	25.37B	27.52B	29.77B
Total Revenues	17.77B	21.45B	25.37B	27.52B	29.77B
Cost of Goods Sold, Total	9.78B	11.45B	13.45B	15.86B	17.99B
Gross Profit	7.99B	10B	11.92B	11.65B	11.78B
Selling General & Admin Expenses, Total	3.11B	3.93B	4.56B	4.36B	3.87B
Stock-Based Compensation (IS)	-	-	-	-	-
R&D Expenses	2.08B	2.64B	3.04B	3.25B	2.97B
Depreciation & Amortization - (IS)	-	-	-	-	-
Other Operating Expenses	-	-	9M	5M	89M
Other Operating Expenses, Total	5.2B	6.57B	7.61B	7.61B	6.93B
Operating Income	2.79B	3.43B	4.32B	4.04B	4.86B
Interest Expense, Total	-115M	-209M	-232M	-304M	-347M
Interest And Investment Income	197M	88M	57M	174M	480M
Net Interest Expenses	82M	-121M	-175M	-130M	133M
Currency Exchange Gains (Loss)	24M	-110M	144M	202M	-163M
Other Non Operating Income (Expenses)	16M	-9M	-83M	84M	155M
EBT, Excl. Unusual Items	2.91B	3.19B	4.2B	4.2B	4.98B
Restructuring Charges	-78M	-109M	-27M	-121M	-122M
Gain (Loss) On Sale Of Investments	157M	2.02B	-49M	-627M	258M
Gain (Loss) On Sale Of Assets	7M	-	-	-	356M
Asset Writedown	-	-30M	-26M	-81M	-61M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	3B	5.06B	4.1B	3.37B	5.41B
Income Tax Expense	539M	863M	-70M	947M	1.16B
Earnings From Continuing Operations	2.46B	4.2B	4.17B	2.42B	4.25B
Net Income to Company	2.46B	4.2B	4.17B	2.42B	4.25B
Net Income - (IS)	2.46B	4.2B	4.17B	2.42B	4.25B
Net Income to Common Incl Extra Items	2.46B	4.2B	4.17B	2.42B	4.25B
Net Income to Common Excl. Extra Items	2.46B	4.2B	4.17B	2.42B	4.25B
Per Share Items
Net EPS - Basic	2.09	3.58	3.55	2.1	3.85
Basic EPS - Continuing Operations	2.09	3.58	3.55	2.1	3.85
Basic Weighted Average Shares Outstanding	1.17B	1.17B	1.17B	1.15B	1.1B
Net EPS - Diluted	2.07	3.54	3.52	2.09	3.84
Diluted EPS - Continuing Operations	2.07	3.54	3.52	2.09	3.84
Diluted Weighted Average Shares Outstanding	1.19B	1.19B	1.19B	1.16B	1.11B
Normalized Basic EPS	1.55	1.7	2.24	2.27	2.82
Normalized Diluted EPS	1.53	1.68	2.21	2.26	2.81
American Depositary Receipts Ratio (ADR)	0.05	0.05	0.05	0.05	0.05
Supplemental Items
EBITDA	3.4B	4.3B	5.21B	4.93B	5.44B
EBITA	3B	3.88B	4.76B	4.51B	5.08B
EBIT	2.79B	3.43B	4.32B	4.04B	4.86B
EBITDAR	3.53B	4.46B	5.4B	5.12B	5.62B
Effective Tax Rate - (Ratio)	17.98	17.04	-1.71	28.13	21.53
Current Domestic Taxes	179M	453M	86M	792M	1.18B
Current Foreign Taxes	629M	245M	326M	966M	657M
Total Current Taxes	808M	698M	412M	1.76B	1.83B
Deferred Domestic Taxes	-146M	227M	-446M	-664M	-569M
Deferred Foreign Taxes	-123M	-62M	-36M	-147M	-99M
Total Deferred Taxes	-269M	165M	-482M	-811M	-668M
Normalized Net Income	1.82B	1.99B	2.63B	2.62B	3.11B
Interest on Long-Term Debt	-	206M	224M	290M	334M
Supplemental Operating Expense Items
Advertising Expense	399M	654M	740M	518M	364M
Selling and Marketing Expenses	1.4B	1.86B	2.44B	2.26B	1.81B
General and Administrative Expenses	1.58B	2.07B	2.11B	2.1B	2.06B
Research And Development Expense From Footnotes	2.08B	2.64B	3.04B	3.25B	2.97B
Net Rental Expense, Total	130M	166M	184M	194M	174M
Imputed Operating Lease Interest Expense	32.02M	36.53M	34.96M	44.17M	41.29M
Imputed Operating Lease Depreciation	97.98M	129M	149M	150M	133M
Stock-Based Comp., COGS (Total)	198M	250M	263M	269M	305M
Stock-Based Comp., R&D Exp. (Total)	420M	529M	515M	512M	612M
Stock-Based Comp., S&M Exp. (Total)	127M	172M	175M	151M	179M
Stock-Based Comp., G&A Exp. (Total)	305M	460M	468M	383M	434M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	1.05B	1.41B	1.42B	1.32B	1.53B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	7.35B	4.79B	5.2B	7.78B	9.08B
Short Term Investments	3.41B	8.29B	4.3B	3.09B	4.98B
Total Cash And Short Term Investments	10.76B	13.08B	9.5B	10.87B	14.06B
Accounts Receivable, Total	435M	577M	800M	963M	1.07B
Other Receivables	-	42M	36M	65M	101M
Notes Receivable	3.97B	2.77B	4.85B	7.43B	5.43B
Total Receivables	4.41B	3.39B	5.68B	8.46B	6.6B
Prepaid Expenses	666M	1.06B	963M	1.58B	1.02B
Loans Held For Sale	-	-	-	-	563M
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	-	-	5M	24M	-
Other Current Assets, Total	22.66B	33.46B	36.42B	36.59B	40.32B
Total Current Assets	38.5B	51B	52.57B	57.52B	62.57B
Gross Property Plant And Equipment	6.9B	7.72B	8.25B	8.69B	8.83B
Accumulated Depreciation	-4.72B	-5.2B	-5.68B	-6.38B	-6.95B
Net Property Plant And Equipment	2.17B	2.51B	2.57B	2.3B	1.88B
Long-term Investments	2.86B	6.08B	6.8B	5.02B	3.27B
Goodwill	6.21B	9.14B	11.45B	11.21B	11.03B
Other Intangibles, Total	778M	1.05B	1.33B	788M	537M
Deferred Tax Assets Long-Term	396M	142M	547M	1.31B	-
Other Long-Term Assets, Total	417M	463M	531M	571M	2.88B
Total Assets	51.33B	70.38B	75.8B	78.72B	82.17B
Liabilities
Accounts Payable, Total	232M	252M	197M	126M	139M
Accrued Expenses, Total	1.74B	1.98B	2.15B	3.05B	3.2B
Short-term Borrowings	-	-	-	-	359M
Current Portion of Long-Term Debt	-	-	999M	418M	1.25B
Current Portion of Leases	104M	144M	142M	151M	144M
Current Income Taxes Payable	73M	129M	236M	813M	-
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	24.77B	35.94B	39.3B	40.54B	43.38B
Total Current Liabilities	26.92B	38.45B	43.03B	45.1B	48.47B
Long-Term Debt	4.96B	8.94B	8.05B	10.42B	9.68B
Long-Term Leases	403M	642M	620M	569M	416M
Deferred Tax Liability Non Current	89M	75M	186M	25M	-
Other Non Current Liabilities	2.03B	2.21B	2.19B	2.33B	2.56B
Total Liabilities	34.4B	50.32B	54.08B	58.44B	61.12B
Common Stock, Total	-	-	-	-	-
Additional Paid In Capital	15.59B	16.64B	17.21B	18.33B	19.64B
Retained Earnings	8.34B	12.37B	16.54B	18.95B	23.2B
Treasury Stock	-6.87B	-8.51B	-11.88B	-16.08B	-21.04B
Comprehensive Income and Other	-173M	-484M	-136M	-928M	-746M
Total Common Equity	16.88B	20.02B	21.73B	20.27B	21.05B
Minority Interest	44M	44M	-	-	-
Total Equity	16.93B	20.06B	21.73B	20.27B	21.05B
Total Liabilities And Equity	51.33B	70.38B	75.8B	78.72B	82.17B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.17B	1.17B	1.17B	1.13B	1.07B
ECS Total Common Shares Outstanding	1.17B	1.17B	1.17B	1.14B	1.07B
Book Value / Share	14.39	17.08	18.6	17.85	19.64
Tangible Book Value	9.9B	9.84B	8.94B	8.28B	9.49B
Tangible Book Value Per Share	8.44	8.39	7.65	7.29	8.85
Total Debt	5.47B	9.72B	9.81B	11.56B	11.84B
Net Debt	-5.29B	-3.36B	310M	687M	-2.22B
Debt Equivalent Oper. Leases	1.04B	1.33B	1.47B	1.55B	1.39B
Minority Interest, Total (Incl. Fin. Div)	44M	44M	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	430M	307M	380M	388M	333M
Buildings, Total	-	-	-	-	-
Machinery, Total	2.98B	3.38B	3.44B	3.52B	3.5B
Full Time Employees	23.2K	26.5K	30.9K	29.9K	27.2K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.46B	4.2B	4.17B	2.42B	4.25B
Depreciation & Amortization - CF	403M	416M	456M	420M	364M
Amortization of Goodwill and Intangible Assets - (CF)	211M	451M	443M	471M	226M
Depreciation & Amortization, Total	614M	867M	899M	891M	590M
Amortization of Deferred Charges, Total - (CF)	298M	322M	366M	426M	482M
(Gain) Loss From Sale Of Asset	-	-	-	-	-303M
(Gain) Loss on Sale of Investments - (CF)	-207M	-1.91B	-46M	304M	-568M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Operating	-	-	-	-	-675M
Provision for Credit Losses	-	-	-	-	-
Stock-Based Compensation (CF)	1.02B	1.38B	1.38B	1.26B	1.48B
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	961M	1.95B	678M	966M	910M
Change In Accounts Receivable	-120M	-100M	-222M	-163M	-114M
Change In Accounts Payable	4M	-4M	-31M	-35M	7M
Change In Income Taxes	-40M	-230M	73M	373M	-
Change in Other Net Operating Assets	-429M	-618M	-922M	-629M	-1.21B
Cash from Operations	4.56B	5.85B	6.34B	5.81B	4.84B
Capital Expenditure	-704M	-866M	-908M	-706M	-623M
Sale of Property, Plant, and Equipment	17M	120M	5M	5M	45M
Cash Acquisitions	-70M	-3.61B	-2.76B	-	-
Divestitures	-	-	-	-	466M
Investment in Marketable and Equity Securities, Total	-3B	-10.6B	-418M	3.19B	2.32B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-1.63B	294M	-1.59B	-3.27B	1.46B
Other Investing Activities, Total	-342M	-1.55B	193M	-2.64B	-2.91B
Cash from Investing	-5.73B	-16.22B	-5.48B	-3.42B	752M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	5.47B	6.97B	272M	3.48B	1.53B
Total Debt Issued	5.47B	6.97B	272M	3.48B	1.53B
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-2.52B	-3B	-361M	-1.69B	-1.05B
Total Debt Repaid	-2.52B	-3B	-361M	-1.69B	-1.05B
Issuance of Common Stock	138M	137M	162M	143M	127M
Repurchase of Common Stock	-1.92B	-2.16B	-4.41B	-4.54B	-5.26B
Other Financing Activities, Total	2.51B	10.54B	3.57B	1.49B	1.66B
Cash from Financing	3.69B	12.49B	-764M	-1.11B	-2.99B
Foreign Exchange Rate Adjustments	-6M	169M	-102M	-155M	76M
Net Change in Cash	2.51B	2.3B	-11M	1.13B	2.68B
Supplemental Items
Cash Interest Paid	78M	190M	231M	280M	331M
Cash Income Tax Paid (Refund)	665M	565M	474M	878M	2.12B
Levered Free Cash Flow	1.96B	5.06B	2.75B	3.33B	5.12B
Unlevered Free Cash Flow	2.03B	5.19B	2.9B	3.52B	5.34B
Change In Net Working Capital	971M	-1.31B	1.58B	931M	-322M
Net Debt Issued / Repaid	2.96B	3.97B	-89M	1.79B	475M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.68	3.52	3.69	3.27	3.77
Return on Total Capital	8.77	8.21	8.8	7.97	9.38
Return On Equity %	15.22	22.72	19.95	11.52	20.55
Return on Common Equity	15.24	22.77	19.97	11.52	20.55
Margin Analysis
Gross Profit Margin %	44.94	46.62	46.99	42.35	39.59
SG&A Margin	17.51	18.32	17.97	15.83	12.99
EBITDA Margin %	19.15	20.02	20.55	17.92	18.29
EBITA Margin %	16.89	18.08	18.75	16.39	17.07
EBIT Margin %	15.7	15.98	17.01	14.68	16.31
Income From Continuing Operations Margin %	13.84	19.59	16.43	8.79	14.26
Net Income Margin %	13.84	19.59	16.43	8.79	14.26
Net Avail. For Common Margin %	13.84	19.59	16.43	8.79	14.26
Normalized Net Income Margin	10.24	9.29	10.35	9.53	10.45
Levered Free Cash Flow Margin	11.02	23.57	10.85	12.1	17.19
Unlevered Free Cash Flow Margin	11.43	24.17	11.42	12.79	17.92
Asset Turnover
Asset Turnover	0.38	0.35	0.35	0.36	0.37
Fixed Assets Turnover	9.12	9.16	9.98	11.3	14.24
Receivables Turnover (Average Receivables)	47.52	42.4	36.85	31.22	29.3
Short Term Liquidity
Current Ratio	1.43	1.33	1.22	1.28	1.29
Quick Ratio	0.42	0.36	0.24	0.26	0.31
Operating Cash Flow to Current Liabilities	0.17	0.15	0.15	0.13	0.1
Days Sales Outstanding (Average Receivables)	7.68	8.63	9.91	11.69	12.46
Average Days Payable Outstanding	9.57	7.73	6.09	3.72	2.69
Long Term Solvency
Total Debt/Equity	32.32	48.47	45.15	56.99	56.26
Total Debt / Total Capital	24.43	32.65	31.11	36.3	36.01
LT Debt/Equity	31.71	47.75	39.9	54.19	47.94
Long-Term Debt / Total Capital	23.96	32.16	27.49	34.52	30.68
Total Liabilities / Total Assets	67.02	71.49	71.34	74.24	74.38
EBIT / Interest Expense	24.26	16.4	18.6	13.29	13.99
EBITDA / Interest Expense