PayPal Holdings, Inc.

PYPLNASDAQFinancial Services● Active

$41.29

$-1.46(-3.42%)

Market Cap$36.4B

P/E Ratio—

52W High$79.5

52W Low$38.46

Avg Volume15.4M

Open$41.89

Beta1.34

Free Cash Flow Financials Revenue

PayPal Holdings, Inc. (PYPL) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

PYPL · free cash flow · updated Jun 8, 2026

Core FCF metrics

PYPL · FCF · TTM · margin & CAGR

Free cash flow was $5.56B for FY2025 (fiscal year ending 2025-12-31), down 17.8% year-over-year The FCF margin was 16.8%. Five-year CAGR stands at +2.2%.

FY2025 Free Cash Flow$5.56B▼ -17.8% YoY

Trailing 12M (TTM)$5.51Btrailing 4 quarters sum

FCF Margin16.8%$5.56B ÷ revenue

3-Year CAGR+2.9%FY2022 → FY2025

5-Year CAGR+2.2%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

PYPL · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$6.42B(852M)$5.56B▼ 17.8%16.8%

FY2024$7.45B(683M)$6.77B▲ +60.4%21.3%

FY2023$4.84B(623M)$4.22B▼ 17.4%14.2%

FY2022$5.81B(706M)$5.11B▲ +4.5%18.6%

FY2021$5.80B(908M)$4.89B▼ 2.0%19.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

PYPL · P/FCF · FCF yield · FCF per share

PayPal Holdings, Inc. (PYPL) trades at a FCF yield of 15.13% and a price-to-free-cash-flow ratio of 7.2x. FCF per share stands at $5.75, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

15.13%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$5.75

TTM FCF ÷ Shares Outstanding

Price / FCF

x7.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x7.0

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

PYPL · cash flow statement · operating / investing / financing

For FY2025, PayPal Holdings, Inc. generated $6.42B in operating cash flow and spent 852M in capital expenditures, yielding $5.56B in free cash flow.

Operating Activities

+$6.42B

Cash from core business operations

2025-12-31

Investing Activities

+$797.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$5.96B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($6.42B) − |CapEx| (852M) = FCF ($5.56B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

PYPL vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

PayPal Holdings, Inc.YOU

PYPL

$5.56B-17.8%16.8%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

PayPal Holdings, Inc. (PYPL) reported free cash flow of $5.56B for FY2025 (fiscal year ending 2025-12-31), down 17.8% year-over-year. The FCF margin was 16.8%.

Based on available data, PayPal Holdings, Inc. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $6.77B in FY2024. The 5-year CAGR stands at +2.2%.

PayPal Holdings, Inc.'s FCF yield is 15.13% and price-to-FCF ratio is 7.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

PYPL free cash flow · 8 questions

PayPal Holdings, Inc. free cash flow was $5.56B for FY2025, down 17.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $5.51B.

PYPL free cash flowPYPL FCFPYPL FCF 2025PYPL free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · PayPal Holdings, Inc. · PayPal Holdings, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026