PYPL PayPal Holdings margins

Relative Growth: Rel. Growth: 64

Relative Strength: Rel. Strength: 65

Relative Valuation: Rel. Valuation: 82

Relative Profitability: Rel. Profitability: 70

Gross margin

40.5%

Operating margin

17%

EBITDA margin

19.5%

Net margin

13.8%

Currently, PayPal Holdings has a gross margin of 40.5%, an operating margin of 17%, an EBITDA margin of 19.5%, and a net margin of 13.8%. Each available margin declined from the same period last year. EBITDA margin recorded the strongest contraction, decreasing by 2 percentage points.

PYPL margin history

Gross, operating, EBITDA and net margin trends

PayPal Holdings's margins averaged 40.6% gross, 17.56% operating, 21.06% EBITDA, and 14.4% net during the last 3 years. Currently, all four current margins are below their three-year averages.

PYPL margin expansion

Year-over-year margin changes in percentage points

EBITDA margin led the decline, falling by 2 percentage points, while the other available margins also decreased.

Gross margin expansion

-1.1pp

Operating margin expansion

-1.2pp

EBITDA margin expansion

-2pp

Net margin expansion

-1.2pp

PYPL Gross margin

PayPal Holdings's gross margin averaged 40.6% 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 17.56%. Against its three-year average, PayPal Holdings's operating margin is currently 17%, 0.6 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 16.7% at its lowest in Dec 2024.

PYPL EBITDA margin

Looking back over the last 3 years, PayPal Holdings recorded an average EBITDA margin of 21.06%. PayPal Holdings's current EBITDA margin is 19.5% and is 1.6 percentage points below its three-year average. The highest EBITDA margin for PayPal Holdings was 21.9% in Dec 2025, while the lowest was 19.5% in Sep 2026.

PYPL Net margin

Over the last 3 years, the average net margin for PayPal Holdings was 14.4%. The latest net margin for PayPal Holdings is 13.8%, 0.6 percentage points below its three-year average. PayPal Holdings's net margin ranged from a low of 13% in Dec 2024 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 83.4%, PayPal Holdings's gross margin is 51% 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 Sep 30, 2026.

What is PayPal Holdings's operating margin?

For the period ending Sep 30, 2026, PYPL recorded an operating margin of 17%.

What is PayPal Holdings's EBITDA margin?

The current EBITDA margin for PYPL is 19.5% as of Sep 30, 2026.

What is PayPal Holdings's net margin?

The current net margin for PYPL is 13.8% as of Sep 30, 2026.

What are the average margins of PYPL?

PayPal Holdings's average margins over the last 3 years were 40.6% gross, 17.6% operating, 21.1% EBITDA, and 14.4% net.

What are the highest historical margins of PYPL?

PayPal Holdings's highest recorded margins during the past 5 years were 47% gross in Dec 2021, 18.3% operating in Dec 2025, 21.9% EBITDA in Dec 2025, and 16.4% net in Dec 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.