PayPal
PYPL · Transaction & Payment Processing Services
$57.02
0.9%Block
XYZ · Transaction & Payment Processing Services
$76.46
3.2%The short version
- PayPal is the larger business, with $33.2B of revenue in fiscal 2025 against $24.2B for Block.
- PayPal grew revenue faster (4.3%, against 0.3%).
- PayPal kept more of each dollar of sales as operating profit (18.3% operating margin, against 7.1% operating margin).
- PayPal turned more of its sales into free cash flow (16.8% FCF margin, against 10.0% FCF margin).
- PayPal earned a higher return on the capital invested in it (25.7%, against 6.4%).
- Investors pay more for each dollar of Block’s earnings: a P/E of 136.5x against 10.7x for PayPal.
| Latest fiscal year | PYPL · FY25 | XYZ · FY25 |
|---|---|---|
| Size | ||
| Market cap | $52.5B | $46.5B |
| Revenue | $33.2B | $24.2B |
| Free cash flow | $5.6B | $2.4B |
| Net income | $5.2B | $1.3B |
| Growth | ||
| Revenue growth | 4.3% | 0.3% |
| 5-year growth | 9.1% | 20.6% |
| Share count change | −6.8% | −2.1% |
| Profitability | ||
| Gross margin | — | 42.8% |
| Operating margin | 18.3% | 7.1% |
| Net margin | 15.8% | 5.4% |
| FCF margin | 16.8% | 10.0% |
| Return on capital | 25.7% | 6.4% |
| Return on equity | 25.7% | 6.0% |
| Balance sheet | ||
| Net debt | −$418M | $207M |
| Net debt / EBITDA | −0.1x | 0.1x |
| Dividends and buybacks | $6.2B | $2.3B |
| Valuation & quality | ||
| P/E | 10.7x | 136.5x |
| Piotroski F-score | 7 | 5 |
FY16
PYPL $10.8B
XYZ $1.7B
FY17
PYPL $13.1B
XYZ $2.2B
FY18
PYPL $15.5B
XYZ $3.3B
FY19
PYPL $17.8B
XYZ $4.7B
FY20
PYPL $21.5B
XYZ $9.5B
FY21
PYPL $25.4B
XYZ $17.7B
FY22
PYPL $27.5B
XYZ $17.5B
FY23
PYPL $29.8B
XYZ $21.9B
FY24
PYPL $31.8B
XYZ $24.1B
FY25
PYPL $33.2B
XYZ $24.2B
PYPL
XYZ
FY16
PYPL 14.6%
XYZ −10.0%
FY17
PYPL 16.2%
XYZ −2.5%
FY18
PYPL 14.2%
XYZ −1.1%
FY19
PYPL 15.3%
XYZ 0.6%
FY20
PYPL 15.3%
XYZ −0.2%
FY21
PYPL 16.8%
XYZ 0.9%
FY22
PYPL 13.9%
XYZ −3.6%
FY23
PYPL 16.9%
XYZ −1.3%
FY24
PYPL 16.8%
XYZ 3.7%
FY25
PYPL 18.3%
XYZ 7.1%
PYPL
XYZ
FY16
PYPL $2.5B
XYZ −$2.3M
FY17
PYPL $1.9B
XYZ $102M
FY18
PYPL $4.7B
XYZ $234M
FY19
PYPL $3.4B
XYZ $265M
FY20
PYPL $5.4B
XYZ $34.7M
FY21
PYPL $4.9B
XYZ $714M
FY22
PYPL $5.1B
XYZ $5.1M
FY23
PYPL $4.2B
XYZ −$50.2M
FY24
PYPL $6.8B
XYZ $1.6B
FY25
PYPL $5.6B
XYZ $2.4B
PYPL
XYZ
FY16
PYPL —
XYZ —
FY17
PYPL —
XYZ −25.0%
FY18
PYPL —
XYZ −4.9%
FY19
PYPL 23.0%
XYZ 2.6%
FY20
PYPL 20.2%
XYZ −1.5%
FY21
PYPL 23.6%
XYZ 8.1%
FY22
PYPL 13.8%
XYZ −5.3%
FY23
PYPL 21.6%
XYZ −1.3%
FY24
PYPL 23.0%
XYZ 5.0%
FY25
PYPL 25.7%
XYZ 6.4%
PYPL
XYZ
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.