PayPal Holdings, Inc. (PYPL) closed fiscal year 2025 with a gross margin of 46.6 % and a net margin of 15.8 %.
PayPal Holdings, Inc. (PYPL) closed fiscal year 2025 with a gross margin of 46.6 % and a net margin of 15.8 %. The same year shows an EBITDA margin of 21.2 % and an EBIT margin of 18.3 %. The free cash flow margin was 16.8 %. Against the previous year the gross margin moved +0.5 pp and the net margin +2.7 pp. Across the period the gross margin ranges between 46.0 % in 2023 and 50.1 % in 2022. The series covers 13 fiscal years, from 2013 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | 50.05 % | 46.03 % | 46.10 % | 46.62 % |
| EBITDA margin (%) | 22.95 % | 22.23 % | 22.37 % | 21.31 % | 22.39 % | 19.22 % | 20.43 % | 20.87 % | 21.78 % | 18.73 % | 20.49 % | 19.99 % | 21.19 % |
| EBIT margin (%) | 16.22 % | 15.80 % | 15.80 % | 14.63 % | 16.24 % | 14.20 % | 15.30 % | 15.33 % | 16.80 % | 13.94 % | 16.89 % | 16.75 % | 18.28 % |
| Net margin (%) | 14.20 % | 5.22 % | 13.28 % | 12.92 % | 13.71 % | 13.31 % | 13.84 % | 19.59 % | 16.43 % | 8.79 % | 14.26 % | 13.04 % | 15.78 % |
| FCF margin (%) | 23.81 % | 21.53 % | 19.72 % | 22.96 % | 14.24 % | 30.14 % | 18.95 % | 24.95 % | 19.27 % | 18.56 % | 14.17 % | 21.28 % | 16.77 % |
