Financials PayPal Holdings, Inc.

Equities

PYPL

US70450Y1038

Business Support Services

Market Closed - Nasdaq Other stock markets 04:00:00 2025-01-17 pm EST			5-day change	1st Jan Change
91.81 ^USD	+3.25%		+10.14%	+7.57%

Jan. 17	Trump's inauguration marks new era for cryptocurrency	RE
Jan. 16	Wells Fargo Adjusts PayPal Price Target to $80 From $75, Maintains Equal Weight Rating	MT

Projected Income Statement: PayPal Holdings, Inc.

income-statement-evolution-chart PAYPAL-HOLDINGS-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	17,772	21,454	25,371	27,518	29,771	31,709	33,535	35,763
Change	-	20.72%	18.26%	8.46%	8.19%	6.51%	5.76%	6.64%
EBITDA ¹	4,832	6,127	7,128	6,716	7,524	6,648	6,918	7,352
Change	-	26.8%	16.34%	-5.78%	12.03%	-11.64%	4.06%	6.27%
EBIT ¹	4,131	5,388	6,304	5,870	6,679	5,693	6,033	6,488
Change	-	30.43%	17%	-6.88%	13.78%	-14.77%	5.98%	7.54%
Interest Paid ¹	-	-209	-209	-130	-	-291	-321.7	-314.7
Earnings before Tax (EBT) ¹	2,998	5,065	4,099	3,366	5,411	5,325	5,884	6,342
Change	-	68.95%	-19.07%	-17.88%	60.75%	-1.59%	10.5%	7.78%
Net income ¹	2,459	4,202	4,169	2,419	4,246	4,144	4,597	4,932
Change	-	70.88%	-0.79%	-41.98%	75.53%	-2.39%	10.92%	7.28%
Announcement Date	1/29/20	2/3/21	2/1/22	2/9/23	2/7/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	4,961	4,618	5,261	5,459	6,116	6,033	6,238	6,182	6,918	6,483	6,806	6,846	7,383	7,040	7,287	7,418	8,026	7,699	7,885	7,847	8,273	8,020	8,283	8,357	8,837	8,401	8,721	8,810
Change	-	-6.91%	13.92%	3.76%	12.04%	-1.36%	3.4%	-0.9%	11.91%	-6.29%	4.98%	0.59%	7.84%	-4.65%	3.51%	1.8%	8.2%	-4.07%	2.42%	-0.48%	5.42%	-3.05%	3.28%	0.89%	5.75%	-4.93%	3.8%	1.02%
EBITDA ¹	1,349	1,087	1,667	1,670	1,703	1,867	1,861	1,683	1,717	1,554	1,516	1,743	1,903	1,813	1,771	1,859	2,081	1,608	1,671	1,681	1,611	1,660	1,715	1,717	1,714	1,708	1,806	1,928
Change	-	-19.42%	53.36%	0.18%	1.98%	9.63%	-0.32%	-9.56%	2.02%	-9.49%	-2.45%	14.97%	9.18%	-4.73%	-2.32%	4.97%	11.94%	-22.73%	3.92%	0.6%	-4.15%	3.02%	3.31%	0.13%	-0.17%	-0.34%	5.73%	6.75%
EBIT ¹	1,173	908	1,485	1,485	1,510	1,673	1,654	1,470	1,507	1,343	1,302	1,532	1,693	1,600	1,560	1,647	1,872	1,399	1,460	1,477	1,405	1,421	1,495	1,551	1,591	1,490	1,590	1,692
Change	-	-22.59%	63.55%	0%	1.68%	10.79%	-1.14%	-11.12%	2.52%	-10.88%	-3.05%	17.67%	10.51%	-5.49%	-2.5%	5.58%	13.66%	-25.27%	4.36%	1.16%	-4.9%	1.16%	5.23%	3.74%	2.55%	-6.31%	6.72%	6.36%
Charge d'intérêts ¹	-	-37	-41	-58	-59	-58	-57	-78	-	-59	-69	-87	-5	-87	-87	-	-	-	-	-106	-95	-88	-88	-88	-88	-	-	-
Earnings before Tax (EBT) ¹	854	263	1,799	1,144	1,859	872	1,356	1,165	706	629	49	1,578	1,110	1,074	1,303	1,241	1,793	1,209	1,399	1,311	1,379	1,372	1,468	1,519	1,560	1,435	1,536	1,628
Change	-	-69.2%	584.03%	-36.41%	62.5%	-53.09%	55.5%	-14.09%	-39.4%	-10.91%	-92.21%	3,120.41%	-29.66%	-3.24%	21.32%	-4.76%	44.48%	-32.57%	15.72%	-6.29%	5.18%	-0.49%	7.01%	3.42%	2.7%	-8.01%	7.09%	5.94%
Net income ¹	507	84	1,530	1,021	1,567	1,097	1,184	1,087	801	509	-341	1,330	921	795	1,029	1,020	1,402	888	1,128	1,010	1,082	1,081	1,156	1,195	1,220	1,132	1,215	1,292
Change	-	-83.43%	1,721.43%	-33.27%	53.48%	-29.99%	7.93%	-8.19%	-26.31%	-36.45%	-	-	-30.75%	-13.68%	29.43%	-0.87%	37.45%	-36.66%	27.03%	-10.46%	7.16%	-0.1%	6.91%	3.39%	2.06%	-7.21%	7.38%	6.28%
Announcement Date	1/29/20	5/6/20	7/29/20	11/2/20	2/3/21	5/5/21	7/28/21	11/8/21	2/1/22	4/27/22	8/2/22	11/3/22	2/9/23	5/8/23	8/2/23	11/1/23	2/7/24	4/30/24	7/30/24	10/29/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: PayPal Holdings, Inc.

balance-sheet-analysis-chart PAYPAL-HOLDINGS-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-10,761	-13,083	-1,451	2,641	595	2,587	2,131	-853
Change	-	-221.58%	-111.09%	82.01%	-77.47%	334.79%	-17.63%	-140.03%
Announcement Date	1/29/20	2/3/21	2/1/22	2/9/23	2/7/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: PayPal Holdings, Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	704	866	908	706	623	661.8	896.9	1,061
Change	-	23.01%	4.85%	-22.25%	-11.76%	6.23%	35.53%	18.3%
Free Cash Flow (FCF) ¹	3,857	4,988	5,432	5,107	4,220	6,106	6,857	7,422
Change	-	29.32%	8.9%	-5.98%	-17.37%	44.7%	12.29%	8.24%
Announcement Date	1/29/20	2/3/21	2/1/22	2/9/23	2/7/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: PayPal Holdings, Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	27.19%	28.56%	28.1%	24.41%	25.27%	20.97%	20.63%	20.56%
EBIT Margin (%)	23.24%	25.11%	24.85%	21.33%	22.43%	17.95%	17.99%	18.14%
EBT Margin (%)	16.87%	23.61%	16.16%	12.23%	18.18%	16.79%	17.55%	17.73%
Net margin (%)	13.84%	19.59%	16.43%	8.79%	14.26%	13.07%	13.71%	13.79%
FCF margin (%)	21.7%	23.25%	21.41%	18.56%	14.17%	19.26%	20.45%	20.75%
FCF / Net Income (%)	156.85%	118.71%	130.3%	211.12%	99.39%	147.34%	149.16%	150.49%
Profitability
ROA	5.2%	6.9%	5.7%	6.19%	7.02%	5.48%	5.52%	5.71%
ROE	22.83%	22.77%	19.97%	22.77%	27.32%	22.6%	22.96%	23.06%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	0.39x	0.08x	0.39x	0.31x	-
Debt / Free cash flow	-	-	-	0.52x	0.14x	0.42x	0.31x	-
Capital Intensity
CAPEX / Current Assets (%)	3.96%	4.04%	3.58%	2.57%	2.09%	2.09%	2.67%	2.97%
CAPEX / EBITDA (%)	14.57%	14.13%	12.74%	10.51%	8.28%	9.95%	12.97%	14.43%
CAPEX / FCF (%)	18.25%	17.36%	16.72%	13.82%	14.76%	10.84%	13.08%	14.3%
Items per share
Cash flow per share ¹	3.839	4.932	5.346	5.02	4.375	6.482	7.471	8.434
Change	-	28.46%	8.39%	-6.09%	-12.85%	48.17%	15.25%	12.9%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	14.21	17.08	18.6	17.85	19.09	20.14	22.73	26.37
Change	-	20.18%	8.9%	-4.06%	6.94%	5.54%	12.87%	15.97%
EPS ¹	2.07	3.54	3.52	2.09	3.84	4.008	4.703	5.285
Change	-	71.01%	-0.56%	-40.63%	83.73%	4.38%	17.34%	12.38%
Nbr of stocks (in thousands)	1,174,192	1,171,692	1,174,930	1,140,028	1,078,140	1,002,539	1,002,539	1,002,539
Announcement Date	1/29/20	2/3/21	2/1/22	2/9/23	2/7/24	-	-	-