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PayPal Holdings, Inc. logo

PayPal Holdings, Inc. Cash Flow Statement

Operating, investing, and financing cash movements

PayPal Holdings, Inc. generated $6.4B in operating cash flow over the trailing twelve months. After $887.0M in capital expenditures, free cash flow was $5.5B. Free cash flow decreased 0.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$6.4BNet Cash From Investing (TTM)$3.6BNet Cash From Financing (TTM)-$7.5BCapital Expenditures (TTM)$887.0MDepreciation And Amortization Cf (TTM)$956.0MNet Change In Cash (TTM)$1.3B
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$36.4B
P/E Ratio7.19
ROE25.12%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired—$0———$122M
Capital expenditures$203M$196M$206M$256M$194M$231M
Increase (Decrease) In Funds Receivable, Investing Activities-$2.8B$2.7B$44M——$352M
Payments For (Proceeds From) Hedging And Derivative Instrument, Investing Activities-$131M$53M$263M——-$110M
Payments For Securities Purchased Under Agreements To Resell$125M$200M$1M——$0
Divestiture of businesses, net of cash transferred$0$0$0$0$0—
Commercial mortgage and other loans$5.6B$5.5B$5.7B$4.7B$3.7B$3.8B
Maturities and sales of investments$5.8B$5.5B$6.1B$7.4B$3.9B$4.5B
Proceeds from disposals of property, plant and equipment$1M$2M$1M——$8M
Proceeds From Securities Purchased Under Agreements To Resell$111M$87M$201M——$0
Purchases And Payments For Originations Of Loans Receivable$6.4B$5.5B$6B$4.4B$4.3B$3.9B
Net cash from investing activities$2.5B-$3.6B-$40M$4.8B—-$2.1B
Purchases of investments$5.4B$6B$5.6B$4.4B$4.4B$5.9B

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts receivable-$54M$98M$17M-$126M-$133M$2M
Change in other liabilities$199.5M-$279M———-$437M
Deferred income taxes$223M-$6M-$83M$182M$124M-$290M
Depreciation and amortization$249M$245M$239M$245M$234M$238M
Loans held for sale activity$7.2B$6.4B$7.7B$9B$12.3B$11.1B
Net cash from operating activities$2.4B$1.2B$898M$2B$2.4B$1.1B
Net income$1.1B$1.3B$1.3B$1.2B$1.4B$1.1B
Accretion (Amortization) of Discounts and Premiums, Investments$45M$30M$27M$20M$6M$8M
Gain (Loss) on Investments-$59M$48M$11M$10M$93M-$101M
Gain on sale of business and assets$0$0$0$0$0—
Gain (Loss) on Sales of Loans, Net-$33M-$25M-$27M-$70M-$71M-$61M
Accounts payable$59M-$52M——$10M-$52M
Increase (Decrease) In Originations Of Financing Receivables, Held-For-Sale$7.3B$6.6B$7.7B$9.7B$12.7B$11.3B
Increase (Decrease) in Other Operating Assets$98.3M-$64M———-$249M
Increase (Decrease) In Transaction Loss Allowance For Cash Losses, Net$282.8M$311M———$313M
Other Noncash Income (Expense)—$73M$224M—$42M-$70M
Transaction and credit losses$434M$371M$476M$483M$390M$378M
Stock-based compensation$283M$249M$286M$257M$210M$259M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Dividends paid$0$0———$130M
Funds payable and amounts due to customers-$1.2B$1.4B———$1.1B
Payments For (Proceeds From) Hedging And Derivative Instrument And Securities Purchased Under Agreements To Resell, Financing Activities-$157M$135M$10M$10M$5M-$108M
Proceeds from issuances of debt$0$1.5B$0$746M$400M$930M
Other, net$0-$2M-$4M——-$2M
Repayments of Debt$1.3B$0$1.2B$747M$201M$932M
Net cash from financing activities-$3.6B$994M-$3.2B-$1.8B-$1.9B-$559M
Repurchases of common stock$1.3B$1.5B$1.6B$1.5B$1.5B$1.5B
Taxes paid for net share settlement$80M$277M$0$68M$66M$127M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$2.2B$964M$692M$1.7B$2.2B$903M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$310M$94M$195M—$28M-$50M
Net increase (decrease) in cash$956M-$1.4B-$2.1B$4.9B$165M-$1.6B

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$198M$2M$189M$19M$196M$18M
Income Taxes Paid, Net$52M$95M$742M$196M$66M$7M