Selected Financial Data
since 2015
Income Statement
PayPal Holdings Inc., selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Net revenues | Operating income | Net income |
|---|---|---|---|
| Dec 31, 2022 | 27,518) | 3,837) | 2,419) |
| Dec 31, 2021 | 25,371) | 4,262) | 4,169) |
| Dec 31, 2020 | 21,454) | 3,289) | 4,202) |
| Dec 31, 2019 | 17,772) | 2,719) | 2,459) |
| Dec 31, 2018 | 15,451) | 2,194) | 2,057) |
| Dec 31, 2017 | 13,094) | 2,127) | 1,795) |
| Dec 31, 2016 | 10,842) | 1,586) | 1,401) |
| Dec 31, 2015 | 9,248) | 1,461) | 1,228) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
- Net Revenues
- Net revenues exhibited a consistent upward trend from 2015 through 2022. Starting at $9,248 million in 2015, revenues increased annually, reaching $27,518 million in 2022. This represents nearly a threefold increase over the eight-year period. The most significant absolute growth occurred between 2019 and 2020, where revenues rose by approximately $3,682 million, reflecting accelerated business expansion during that period.
- Operating Income
- Operating income demonstrated a general upward trajectory from 2015 to 2021, increasing from $1,461 million to a peak of $4,262 million. However, a decline was observed in 2022, with operating income falling to $3,837 million. Despite this drop, the 2022 figure remained substantially above earlier years, indicating sustained profitability at the operating level. The peak in 2021 suggests a particularly profitable year before experiencing a mild contraction.
- Net Income
- Net income rose steadily from $1,228 million in 2015 to a high of $4,202 million in 2020, indicating strong bottom-line growth over the first six years. In 2021, net income slightly decreased to $4,169 million, maintaining a high level. However, in 2022, net income declined sharply to $2,419 million, representing a significant reduction compared to the previous two years. This decline indicates increased costs, one-time charges, or other financial factors adversely impacting profitability at the net level.
- Overall Financial Performance
- The data reflects robust growth in revenue and profitability metrics over the long term, with some signs of profit margin pressure or challenges emerging in 2022. While net revenues have consistently risen, the dip in operating and net income in the last year signals the need for further scrutiny into expense management or external market conditions affecting earnings. The company's ability to sustain revenue growth despite recent earnings declines may suggest strong market positioning but also potential volatility in earnings quality or cost structure.
Balance Sheet: Assets
PayPal Holdings Inc., selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| Dec 31, 2022 | 57,517) | 78,717) |
| Dec 31, 2021 | 52,574) | 75,803) |
| Dec 31, 2020 | 50,995) | 70,379) |
| Dec 31, 2019 | 38,495) | 51,333) |
| Dec 31, 2018 | 32,963) | 43,332) |
| Dec 31, 2017 | 32,645) | 40,774) |
| Dec 31, 2016 | 25,733) | 33,103) |
| Dec 31, 2015 | 20,648) | 28,881) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
The analysis of the financial data reveals a positive and continuous growth trend in both current assets and total assets over the given period from 2015 to 2022.
- Current Assets
- The current assets have demonstrated steady growth each year, starting at US$20,648 million in 2015 and rising to US$57,517 million by the end of 2022. The increase is consistent, with a particularly marked rise from 2019 to 2020, where current assets grew from US$38,495 million to US$50,995 million, indicating a significant improvement in the company’s short-term liquidity position.
- Total Assets
- Total assets also show a solid upward trajectory, beginning at US$28,881 million in 2015 and reaching US$78,717 million in 2022. Similar to current assets, the growth in total assets accelerated between 2019 and 2020, reflecting an expansion in the company’s overall asset base. This growth suggests successful asset accumulation or acquisition activities during this period.
Overall, the trends imply effective asset management and potentially expanding operations, as both current and total assets increased significantly throughout the examined years, enhancing the company’s financial position and capacity for future growth.
Balance Sheet: Liabilities and Stockholders’ Equity
PayPal Holdings Inc., selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total liabilities | Total debt | Total PayPal Stockholders’ equity | |
|---|---|---|---|---|
| Dec 31, 2022 | 45,101) | 58,443) | 10,835) | 20,274) |
| Dec 31, 2021 | 43,029) | 54,076) | 9,048) | 21,727) |
| Dec 31, 2020 | 38,447) | 50,316) | 8,939) | 20,019) |
| Dec 31, 2019 | 26,919) | 34,404) | 4,965) | 16,885) |
| Dec 31, 2018 | 25,904) | 27,946) | 1,998) | 15,386) |
| Dec 31, 2017 | 22,863) | 24,780) | 1,000) | 15,994) |
| Dec 31, 2016 | 16,878) | 18,391) | —) | 14,712) |
| Dec 31, 2015 | 13,617) | 15,122) | —) | 13,759) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
The financial data reveals several notable trends in the company's liabilities, debt, and stockholders' equity over the eight-year period analyzed.
- Current Liabilities
- There is a consistent upward trend in current liabilities from 2015 to 2022. The value increased from approximately 13.6 billion USD in 2015 to about 45.1 billion USD in 2022. The growth accelerated notably from 2019 onwards, indicating a rising short-term obligation or increased operational scale.
- Total Liabilities
- Total liabilities follow a similar increasing pattern, rising from around 15.1 billion USD in 2015 to nearly 58.4 billion USD in 2022. The steady increase across the years, particularly from 2019 forward, suggests a growing reliance on liabilities to finance the company’s operations or investments.
- Total Debt
- Total debt data is missing for 2015 and 2016, but from 2017 onwards it shows substantial growth. Debt escalated from 1 billion USD in 2017 to 10.8 billion USD in 2022. This increase implies a strategic use of debt financing, with notable increments between 2018 and 2020 and a continued, albeit slower, rise thereafter.
- Total Stockholders' Equity
- Stockholders' equity demonstrates moderate growth from about 13.8 billion USD in 2015 to 20.3 billion USD in 2022. There was a small decline in 2018 followed by a steady recovery and peak in 2021 at roughly 21.7 billion USD, before a slight decrease in 2022. The steady equity growth alongside increasing liabilities and debt suggests retained earnings or capital infusions supporting the company's expansion.
Overall, the company exhibits a growth-oriented financial pattern, with increasing liabilities and debt levels indicating leveraged financing strategies. Meanwhile, stockholders' equity has improved steadily, supporting the company’s asset base and providing a buffer amid rising obligations. The balance between liabilities and equity suggests careful management of financial leverage, though the marked increases in debt and liabilities after 2018 warrant close monitoring for liquidity and risk exposure.
Cash Flow Statement
PayPal Holdings Inc., selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash provided by operating activities | Net cash (used in) provided by investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Dec 31, 2022 | 5,813) | (3,421) | (1,110) |
| Dec 31, 2021 | 6,340) | (5,485) | (764) |
| Dec 31, 2020 | 5,854) | (16,218) | 12,492) |
| Dec 31, 2019 | 4,561) | (5,733) | 3,688) |
| Dec 31, 2018 | 5,483) | 840) | (1,262) |
| Dec 31, 2017 | 2,531) | (5,358) | 4,084) |
| Dec 31, 2016 | 3,158) | (4,999) | 2,038) |
| Dec 31, 2015 | 2,546) | (6,389) | 3,079) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
The annual financial data reveals various trends in the cash flow activities over the examined periods.
- Net cash provided by operating activities
- This metric shows an overall increasing trend from 2015 through 2021, starting at 2,546 million USD and reaching a peak of 6,340 million USD in 2021. A significant jump occurred in 2018, where operating cash inflows more than doubled compared to the previous year, increasing from 2,531 million USD in 2017 to 5,483 million USD. Although there was a decline in 2019, the values remained robust before rising again in 2020 and 2021. In 2022, a slight decrease to 5,813 million USD was observed, but the level remained substantially higher than in the earlier years.
- Net cash used in investing activities
- This category predominantly shows negative values, indicating consistent cash outflows related to investment activities across most years. The outflows were particularly high in 2015, 2016, 2017, 2019, and 2020, with the most pronounced outflow in 2020, reaching -16,218 million USD. The data for 2018 stands out as it shows a positive cash flow of 840 million USD, suggesting a return or divestment that year. From 2020 onwards, the cash outflows in investing activities decrease progressively, with values dropping from -16,218 million USD in 2020 to -3,421 million USD in 2022, indicating a reduced investment spend or increased divestitures.
- Net cash provided by (used in) financing activities
- This metric displays more volatility compared to operating and investing activities. From 2015 to 2017, the company generated positive cash flow from financing activities, hitting a peak of 4,084 million USD in 2017. However, in 2018 there was a substantial reversal to a negative cash flow of -1,262 million USD. The financing cash inflows rose sharply again in 2019 and reached an outstanding high of 12,492 million USD in 2020, signaling major capital raising or debt issuance activities. Subsequent years show negative cash flows in financing, with -764 million USD in 2021 and -1,110 million USD in 2022, indicating repayments or distributions that exceeded new financing inflows.
Overall, the data points to strong and growing operational cash generation with notable investment outflows peaking around 2020, followed by a decline in investment activity. Financing activities appear cyclical, with significant influxes of capital or debt issuance in some years and repayments or buybacks in others, particularly intensified around 2020. This suggests strategic shifts in capital structure management aligned with investment and operational performance.
Per Share Data
PayPal Holdings Inc., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Dec 31, 2022 | 2.10 | 2.09 | 0.00 |
| Dec 31, 2021 | 3.55 | 3.52 | 0.00 |
| Dec 31, 2020 | 3.58 | 3.54 | 0.00 |
| Dec 31, 2019 | 2.09 | 2.07 | 0.00 |
| Dec 31, 2018 | 1.74 | 1.71 | 0.00 |
| Dec 31, 2017 | 1.49 | 1.47 | 0.00 |
| Dec 31, 2016 | 1.16 | 1.15 | 0.00 |
| Dec 31, 2015 | 1.00 | 1.00 | 0.00 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1, 2, 3 Data adjusted for splits and stock dividends.
- Earnings per Share (EPS)
- Both basic and diluted earnings per share demonstrate an overall upward trend from 2015 through 2021, indicating consistent growth in profitability on a per-share basis during this period. Specifically, basic EPS increased from 1.00 US$ in 2015 to a peak of 3.58 US$ in 2020, before slightly decreasing to 3.55 US$ in 2021. Similarly, diluted EPS rose from 1.00 US$ in 2015 to 3.54 US$ in 2020, followed by a minor decline to 3.52 US$ in 2021.
- However, in 2022 there is a notable decline in both basic and diluted EPS to approximately 2.10 US$, representing a significant drop from the previous two years. This sharp decrease suggests a reversal in profitability trends or other factors negatively impacting earnings per share during that year.
- Dividend per Share
- The data for dividends per share is absent for all periods presented, indicating that no dividends were declared or paid during these years. This absence may imply a retention strategy focusing on reinvestment or other uses of earnings rather than distributing cash to shareholders.