PayPal Holdings reported second-quarter 2026 revenue of $8.68 billion on 28 July 2026, with an $81 million earnings adjustment attributed to crypto assets [Brief - 2026-07-29]. The company noted expansion of its stablecoin offerings and the integration of AI-driven payment tools during the period [Brief - 2026-09-28]. These developments were reiterated across multiple briefing updates through September 2026 [Brief - 2026-09-20] [Brief - 2026-09-12], indicating continued operational activity in digital assets and payments infrastructure.
As of 31 March 2026, PayPal's trailing twelve-month revenue stood at $33.73 billion, reflecting year-over-year revenue growth of 7.21%. Net income on a TTM basis was $5.06 billion, with a net margin of 15.00% and an operating margin of 17.85%. EPS declined 6.20% year-over-year. The company held $6.98 billion in cash against total debt of $10.88 billion. The P/E ratio was recorded at 10.21 against a market capitalisation of approximately $48.53 billion [SEC 10-Q - PYPL - 2026-03-31].
Insider activity in October 2026 comprised three transactions with a mixed directional profile and a net value of zero, indicating no material net acquisition or disposal by insiders during the period [SEC Form 4 - PYPL - 2026-10]. The primary catalyst for this report was material institutional position changes: Citadel, AQR Capital, Millennium, Coatue, and Bridgewater each opened new positions in PYPL during the most recent 13F reporting period [SEC 13F - Citadel - Q3 2026] [SEC 13F - AQR Capital - Q3 2026] [SEC 13F - Millennium - Q3 2026] [SEC 13F - Coatue - Q3 2026] [SEC 13F - Bridgewater - Q3 2026].
The prevailing macro environment shows the 10-year US Treasury yield at 5.28% and the 2-year yield at 4.83%, producing a normal yield curve shape [FRED DGS10] [FRED DGS2]. This rate environment forms part of the broader context in which PayPal's financing costs and valuation metrics are situated, given the company's $10.88 billion total debt position as of the most recent quarterly filing [SEC 10-Q - PYPL - 2026-03-31].