PayPal Holdings (PYPL) FY2023 results: revenue $29.8 billion, up 8.2% on the year
PayPal Holdings, Inc. (PYPL) reported revenue of $29.8 billion for fiscal 2023, the year ended 31 December 2023, up 8.2% on the year before. Net income was $4.2 billion, up 75.5%, and diluted earnings per share $3.84. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2024.
Revenue
$29.8 billion
+8.2% on the year
FY2016FY2023
Operating margin
16.9%
13.9% a year earlier
FY2016FY2023
Net income
$4.2 billion
+75.5% on the year
FY2016FY2023
Diluted EPS
$3.84
+83.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,843
5,813
5,797
-16.7%
Capital expenditure
623
706
908
-11.8%
Free cash flow
4,220
5,107
4,889
-17.4%
Free cash flow margin
14.2%
18.6%
19.3%
Cash from investing
752
-3,328
-5,149
Cash from financing
-2,993
-1,203
-557
Depreciation and amortisation
1,072
1,317
1,265
-18.6%
Share-based compensation
1,475
1,261
1,376
+17.0%
Buybacks
5,002
4,199
3,373
+19.1%
Dividends paid
0.0
n/a
n/a
Diluted shares, weighted
1,107m
1,158m
1,186m
-4.4%
Shares outstanding at period end
1,072m
1,136m
1,168m
-5.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
21,051
20,274
21,727
+3.8%
Non-controlling interest
n/a
n/a
0.0
Debt
9,676
10,417
8,049
-7.1%
Operating lease liabilities
416
569
620
-26.9%
Finance lease liabilities
0.0
n/a
n/a
Other liabilities
51,023
47,457
45,407
+7.5%
Total liabilities and equity
82,166
78,717
75,803
+4.4%
Fixed assets
1,488
1,730
1,909
-14.0%
Goodwill
11,026
11,209
11,454
-1.6%
Intangible assets
537
788
1,332
-31.9%
Investments
8,252
8,110
11,100
+1.8%
Cash and equivalents
9,081
7,776
5,197
+16.8%
Receivables
1,069
963
800
+11.0%
Other assets
50,713
48,141
44,011
+5.3%
Total assets
82,166
78,717
75,803
+4.4%
10-K for the year ended 31 December 2023, filed 8 February 2024: the filing.