PayPal Holdings (PYPL) FY2017 results: revenue $13.1 billion, up 20.8% on the year
PayPal Holdings, Inc. (PYPL) reported revenue of $13.1 billion for fiscal 2017, the year ended 31 December 2017, up 20.8% on the year before. Net income was $1.8 billion, up 28.1%, and diluted earnings per share $1.47. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$13.1 billion
+20.8% on the year
FY2013FY2017
Operating margin
16.2%
14.6% a year earlier
FY2013FY2017
Net income
$1.8 billion
+28.1% on the year
FY2013FY2017
Diluted EPS
$1.47
+27.8% on the year
FY2013FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
13,094
10,842
9,248
+20.8%
Research and development
953
834
792
+14.3%
Operating income
2,127
1,586
1,461
+34.1%
Operating margin
16.2%
14.6%
15.8%
Interest expense
7.0
3.0
n/a
+133.3%
Pre-tax income
2,200
1,631
1,488
+34.9%
Income tax
405
230
260
+76.1%
Effective tax rate
18.4%
14.1%
17.5%
Net income
1,795
1,401
1,228
+28.1%
Net margin
13.7%
12.9%
13.3%
Diluted EPS
$1.47
$1.15
$1.00
+27.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,531
3,158
2,546
-19.9%
Capital expenditure
667
669
722
-0.3%
Free cash flow
1,864
2,489
1,824
-25.1%
Free cash flow margin
14.2%
23.0%
19.7%
Cash from investing
-4,485
-5,904
-8,038
Cash from financing
4,084
2,038
4,728
+100.4%
Depreciation and amortisation
805
724
608
+11.2%
Share-based compensation
733
438
346
+67.4%
Buybacks
1,006
995
0.0
+1.1%
Diluted shares, weighted
1,221m
1,218m
1,229m
+0.2%
Shares outstanding at period end
1,200m
1,207m
1,224m
-0.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
15,994
14,712
13,759
+8.7%
Debt
1,000
0.0
0.0
Other liabilities
23,780
18,391
15,122
+29.3%
Total liabilities and equity
40,774
33,103
28,881
+23.2%
Fixed assets
1,528
1,482
1,344
+3.1%
Goodwill
4,339
4,059
4,069
+6.9%
Intangible assets
168
211
358
-20.4%
Investments
4,773
4,924
4,366
-3.1%
Cash and equivalents
2,883
1,590
1,393
+81.3%
Receivables
283
214
137
+32.2%
Other assets
26,800
20,623
17,214
+30.0%
Total assets
40,774
33,103
28,881
+23.2%
10-K for the year ended 31 December 2017, filed 7 February 2019: the filing.