PayPal Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	5,233	4,147	4,246	2,419	4,169
Depreciation & Amortization	963	1,032	1,072	1,317	1,265
Stock-Based Compensation	1,002	1,230	1,475	1,261	1,376
Other Adjustments	1,598	1,745	39	1,270	632
Change in Receivables	144	85	-114	-163	-222
Changes in Accounts Payable	4	83	7	-35	-31
Changes in Other Operating Activities	-2,528	-872	-1,882	-256	-1,392
Operating Cash Flow	6,416	7,450	4,843	5,813	5,797
Operating Cash Flow Growth	-13.88%	53.83%	-16.69%	0.28%	-6.79%
Capital Expenditures	-852	-683	-623	-706	-908
Sale of Property, Plant & Equipment	3	1	45	5	5
Purchases of Investments	-20,399	-26,209	-21,980	-20,219	-40,116
Proceeds from Sale of Investments	22,933	26,962	24,295	23,411	39,698
Payments for Business Acquisitions	-	-	-	-	-2,763
Proceeds from Business Divestments	-	-	466	-	-
Other Investing Activities	-888	1,618	-1,451	-5,819	-1,065
Investing Cash Flow	797	1,689	752	-3,328	-5,149
Short-Term Debt Issued	2,949	656	-	-	-
Short-Term Debt Repaid	-2,949	-656	-	-	-
Long-Term Debt Issued	2,637	1,546	1,528	3,475	272
Long-Term Debt Repaid	-2,155	-1,661	-1,053	-1,686	-361
Net Long-Term Debt Issued (Repaid)	482	-115	475	1,789	-89
Issuance of Common Stock	117	95	127	143	162
Repurchase of Common Stock	-6,052	-6,047	-5,002	-4,199	-3,373
Net Common Stock Issued (Repurchased)	-5,935	-5,952	-4,875	-4,056	-3,211
Common Dividends Paid	-130	-	-	-	-
Other Financing Activities	-375	-2,209	1,407	1,064	2,743
Financing Cash Flow	-5,958	-8,276	-2,993	-1,203	-557
Effect of Exchange Rate Changes on Cash and Cash Equivalents	273	-207	76	-155	-102
Net Cash Flow	1,528	656	2,678	1,127	-11
Free Cash Flow	5,564	6,767	4,220	5,107	4,889
Free Cash Flow Growth	-17.78%	60.36%	-17.37%	4.46%	-8.67%
FCF Margin	16.77%	21.28%	14.17%	18.56%	19.27%
Free Cash Flow Per Share	5.75	6.51	3.81	4.41	4.12
Levered Free Cash Flow	3,302	3,592	3,295	4,528	3,014
Unlevered Free Cash Flow	2,631	3,704	2,519	3,077	3,269

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.