PayPal Holdings annual free cash flow
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2025
PayPal Holdings Free Cash Flow (FCF) History (PYPL)
PayPal Holdings reported $5.56B in free cash flow for fiscal 2025, a decrease of 17.78% from the previous fiscal year, with a free cash flow margin of 16.77%.
View full PayPal Holdings company overviewPayPal Holdings free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $5.56B | −$1.20B | −17.78% | +16.77% |
| 2024 | 2024-12-31 | $6.77B | $2.55B | +60.36% | +21.28% |
| 2023 | 2023-12-31 | $4.22B | −$887.0M | −17.37% | +14.17% |
| 2022 | 2022-12-31 | $5.11B | $218.0M | +4.46% | +18.56% |
| 2021 | 2021-12-31 | $4.89B | −$464.0M | −8.67% | +19.27% |
| 2020 | 2020-12-31 | $5.35B | $1.99B | +58.98% | +24.95% |
| 2019 | 2019-12-31 | $3.37B | −$1.29B | −27.70% | +18.95% |
| 2018 | 2018-12-31 | $4.66B | $2.79B | +149.84% | +30.14% |
| 2017 | 2017-12-31 | $1.86B | −$625.0M | −25.11% | +14.24% |
| 2016 | 2016-12-31 | $2.49B | $665.0M | +36.46% | +22.96% |
| 2015 | 2015-12-31 | $1.82B | $96.0M | +5.56% | +19.72% |
| 2014 | 2014-12-31 | $1.73B | $126.0M | +7.87% | +21.53% |
| 2013 | 2013-12-31 | $1.60B | — | — | +23.81% |
PayPal Holdings quarterly free cash flow
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Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
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Q4.17
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Q3.18
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Q2.19
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Q1.21
Q2.21
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Q2.24
Q3.24
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Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q1 2026 | 2026-03-31 | $903.0M | −$61.0M | −6.33% | +10.81% |
| Q4 2025 | 2025-12-31 | $2.19B | −$1.0M | −0.05% | +25.24% |
| Q3 2025 | 2025-09-30 | $1.72B | $273.0M | +18.89% | +20.41% |
| Q2 2025 | 2025-06-30 | $692.0M | −$676.0M | −49.42% | +8.35% |
| Q1 2025 | 2025-03-31 | $964.0M | −$799.0M | −45.32% | +12.37% |
| Q4 2024 | 2024-12-31 | $2.19B | −$278.0M | −11.26% | +26.19% |
| Q3 2024 | 2024-09-30 | $1.45B | $344.0M | +31.24% | +18.41% |
| Q2 2024 | 2024-06-30 | $1.37B | $1.72B | — | +17.35% |
| Q1 2024 | 2024-03-31 | $1.76B | $763.0M | +76.30% | +22.90% |
| Q4 2023 | 2023-12-31 | $2.47B | $1.04B | +72.30% | +30.76% |
| Q3 2023 | 2023-09-30 | $1.10B | −$472.0M | −30.01% | +14.84% |
| Q2 2023 | 2023-06-30 | −$350.0M | −$1.43B | — | −4.80% |
| Q1 2023 | 2023-03-31 | $1.00B | −$26.0M | −2.53% | +14.20% |
| Q4 2022 | 2022-12-31 | $1.43B | $426.0M | +42.30% | +19.41% |
| Q3 2022 | 2022-09-30 | $1.57B | $287.0M | +22.32% | +22.98% |
| Q2 2022 | 2022-06-30 | $1.07B | $16.0M | +1.51% | +15.79% |
| Q1 2022 | 2022-03-31 | $1.03B | −$511.0M | −33.25% | +15.83% |
| Q4 2021 | 2021-12-31 | $1.01B | −$479.0M | −32.23% | +14.56% |
| Q3 2021 | 2021-09-30 | $1.29B | $213.0M | +19.85% | +20.80% |
| Q2 2021 | 2021-06-30 | $1.06B | −$520.0M | −32.93% | +16.98% |
| Q1 2021 | 2021-03-31 | $1.54B | $322.0M | +26.50% | +25.48% |
| Q4 2020 | 2020-12-31 | $1.49B | $886.0M | +147.67% | +24.30% |
| Q3 2020 | 2020-09-30 | $1.07B | $150.0M | +16.25% | +19.66% |
| Q2 2020 | 2020-06-30 | $1.58B | $544.0M | +52.56% | +30.01% |
| Q1 2020 | 2020-03-31 | $1.22B | $406.0M | +50.19% | +26.31% |
| Q4 2019 | 2019-12-31 | $600.0M | −$307.0M | −33.85% | +12.09% |
| Q3 2019 | 2019-09-30 | $923.0M | −$3.52B | −79.24% | +21.08% |
| Q2 2019 | 2019-06-30 | $1.03B | $1.21B | — | +24.04% |
| Q1 2019 | 2019-03-31 | $809.0M | $1.34B | — | +19.60% |
| Q4 2018 | 2018-12-31 | $907.0M | $1.23B | — | +21.46% |
| Q3 2018 | 2018-09-30 | $4.45B | $3.61B | +428.78% | +120.74% |
| Q2 2018 | 2018-06-30 | −$170.0M | −$917.0M | — | −4.41% |
| Q1 2018 | 2018-03-31 | −$527.0M | −$1.13B | — | −14.30% |
| Q4 2017 | 2017-12-31 | −$327.0M | −$1.10B | — | −8.73% |
| Q3 2017 | 2017-09-30 | $841.0M | $223.0M | +36.08% | +25.96% |
| Q2 2017 | 2017-06-30 | $747.0M | $252.0M | +50.91% | +23.82% |
| Q1 2017 | 2017-03-31 | $603.0M | −$2.0M | −0.33% | +20.27% |
| Q4 2016 | 2016-12-31 | $771.0M | $207.0M | +36.70% | +25.86% |
| Q3 2016 | 2016-09-30 | $618.0M | $99.0M | +19.08% | +23.17% |
| Q2 2016 | 2016-06-30 | $495.0M | $104.0M | +26.60% | +18.68% |
| Q1 2016 | 2016-03-31 | $605.0M | $255.0M | +72.86% | +23.78% |
| Q4 2015 | 2015-12-31 | $564.0M | $133.0M | +30.86% | +22.07% |
| Q3 2015 | 2015-09-30 | $519.0M | — | — | +22.98% |
| Q2 2015 | 2015-06-30 | $391.0M | — | — | +17.02% |
| Q1 2015 | 2015-03-31 | $350.0M | — | — | +16.38% |
| Q3 2014 | 2014-09-30 | $431.0M | — | — | +21.82% |
PayPal Holdings free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $5.35B to $5.56B, a compound annual growth rate of 0.78%. PayPal Holdings's latest reported quarter, Q1 2026, generated $903.0M in free cash flow, a decrease of 6.33% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review PayPal Holdings filings at SEC.gov ↗