PYPL PayPal Holdings margins

Relative Growth: Rel. Growth: 71

Relative Strength: Rel. Strength: 55

Relative Valuation: Rel. Valuation: 88

Relative Profitability: Rel. Profitability: 74

Gross margin

40.5%

Operating margin

17.4%

EBITDA margin

20%

Net margin

14.4%

Currently, PayPal Holdings has a gross margin of 40.5%, an operating margin of 17.4%, an EBITDA margin of 20%, and a net margin of 14.4%. Each available margin declined from the same period last year. Gross margin recorded the strongest contraction, decreasing by 1.2 percentage points.

PYPL margin history

Gross, operating, EBITDA and net margin trends

PayPal Holdings's margins averaged 40.58% gross, 17.44% operating, 21.11% EBITDA, and 14.33% net during the last 3 years. Against the three-year averages, net margin is above its three-year average and gross, operating, and EBITDA margins are below their three-year averages.

PYPL margin expansion

Year-over-year margin changes in percentage points

Gross and EBITDA margins led the decline, falling by 1.2 percentage points, while the other available margins also decreased.

Gross margin expansion

-1.2pp

Operating margin expansion

-0.8pp

EBITDA margin expansion

-1.2pp

Net margin expansion

-0.1pp

PYPL Gross margin

PayPal Holdings's gross margin averaged 40.58% during the last 3 years. Compared with its three-year average, PayPal Holdings's current gross margin is 40.5% and is 0.1 percentage points below its three-year average. Over the last 3 years, PayPal Holdings's gross margin peaked at 41.7% in Jun 2025 and reached a low of 39.3% in Mar 2024.

PYPL Operating margin

Throughout the last 3 years, PayPal Holdings had an average operating margin of 17.44%. Against its three-year average, PayPal Holdings's operating margin is currently 17.4%, 0 percentage points below its three-year average. Looking back over the last 3 years, PayPal Holdings's operating margin reached 18.3% at its highest point in Dec 2025 and 15.6% at its lowest in Sep 2023.

PYPL EBITDA margin

Looking back over the last 3 years, PayPal Holdings recorded an average EBITDA margin of 21.11%. PayPal Holdings's current EBITDA margin is 20% and is 1.1 percentage points below its three-year average. The highest EBITDA margin for PayPal Holdings was 21.9% in Dec 2025, while the lowest was 20% in Dec 2024.

PYPL Net margin

Over the last 3 years, the average net margin for PayPal Holdings was 14.33%. The latest net margin for PayPal Holdings is 14.4%, 0.1 percentage points above its three-year average. PayPal Holdings's net margin ranged from a low of 12.9% in Sep 2023 to a high of 15.8% in Dec 2025.

PYPL margin group comparison

Margins compared with peer-group, industry and sector averages

PayPal Holdings's gross margin of 40.5% is below the Financial Services sector and the industry average. Compared to its Financial Services sector average of 84%, PayPal Holdings's gross margin is 52% lower.

PYPL margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is PayPal Holdings's gross margin?

The current gross margin for PYPL is 40.5% as of Jun 30, 2026.

What is PayPal Holdings's operating margin?

For the period ending Jun 30, 2026, PYPL recorded an operating margin of 17.4%.

What is PayPal Holdings's EBITDA margin?

The current EBITDA margin for PYPL is 20% as of Jun 30, 2026.

What is PayPal Holdings's net margin?

The current net margin for PYPL is 14.4% as of Jun 30, 2026.

What are the average margins of PYPL?

PayPal Holdings's average margins over the last 3 years were 40.6% gross, 17.4% operating, 21.1% EBITDA, and 14.3% net.

What are the highest historical margins of PYPL?

PayPal Holdings's highest recorded margins during the past 5 years were 47.8% gross in Sep 2021, 18.3% operating in Dec 2025, 26.4% EBITDA in Sep 2021, and 20.1% net in Sep 2021.

What are the lowest historical margins of PYPL?

In the last 5 years, the lowest margins reported by PYPL were 39.3% gross in Mar 2024, 13.5% operating in Jun 2022, 14.6% EBITDA in Jun 2022, and 7.8% net in Jun 2022.