PayPal Holdings (PYPL) Operating Expenses (2014 - 2026)
PayPal Holdings' (PYPL) quarterly Operating Expenses came in at $7.3 billion in Q2 2026, up 6.94% YoY from $6.8 billion in Q2 2025, and up 5.68% on a QoQ basis from $6.9 billion in Q1 2026.
Analysis
PayPal Holdings (PYPL) Operating Expenses (2014 - 2026) Analysis & Trends
PayPal Holdings (PYPL) has 13 years of Operating Expenses data on file, last reported at $7.3 billion in Q2 2026.
- Quarterly Operating Expenses rose 6.94% year-over-year to $7.3 billion in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $28.2 billion (up 6.64% YoY) and the FY2025 annual result came in at $27.1 billion, up 2.4% from the prior year.
- Operating Expenses advanced to $7.3 billion in Q2 2026, from $6.9 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $7.3 billion in Q2 2026 to a low of $5.7 billion in Q3 2022.
- A 5-year average of $6.5 billion and a median of $6.4 billion in 2023 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses climbed 18.22% — and 2025, when it decreased 4.13%.
- Tracing PYPL's Operating Expenses over 5 years: stood at $6.1 billion in 2022, then rose by 2.59% to $6.3 billion in 2023, then gained by 9.96% to $6.9 billion in 2024, then grew by 3.47% to $7.2 billion in 2025, then grew by 1.26% to $7.3 billion in 2026.
- The last three Operating Expenses figures came in at $7.3 billion (Q2 2026), $6.9 billion (Q1 2026), and $7.2 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Visa | 680.39 Bn | 668.03 Bn | - | 4.76 Bn |
| 2 | Mastercard | 518.33 Bn | 504.84 Bn | - | 3.69 Bn |
| 3 | American Express | 224.91 Bn | 175.59 Bn | 17.99 Bn | 14.48 Bn |
| 4 | Capital One Financial | 132.31 Bn | 77.60 Bn | - | 9.04 Bn |
| 5 | PayPal Holdings | 46.25 Bn | 35.00 Bn | - | 7.26 Bn |
| 6 | Affirm Holdings | 26.22 Bn | 24.59 Bn | - | 1.02 Bn |
| 7 | Synchrony Financial | 25.37 Bn | 9.17 Bn | - | 1.33 Bn |
| 8 | SoFi Technologies | 23.30 Bn | 20.18 Bn | 1.02 Bn | 1.00 Bn |
| 9 | Ally Financial | 12.85 Bn | 5.01 Bn | 2.08 Bn | 1.32 Bn |
| 10 | FirstCash Holdings | 9.51 Bn | 9.34 Bn | 533.67 Mn | 406.67 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 7.26 Bn |
| Mar 31, 2026 | 6.87 Bn |
| Dec 31, 2025 | 7.17 Bn |
| Sep 30, 2025 | 6.90 Bn |
| Jun 30, 2025 | 6.78 Bn |
| Mar 31, 2025 | 6.26 Bn |
| Dec 31, 2024 | 6.93 Bn |
| Sep 30, 2024 | 6.46 Bn |
| Jun 30, 2024 | 6.56 Bn |
| Mar 31, 2024 | 6.53 Bn |
| Dec 31, 2023 | 6.30 Bn |
| Sep 30, 2023 | 6.25 Bn |
| Jun 30, 2023 | 6.15 Bn |
| Mar 31, 2023 | 6.04 Bn |
| Dec 31, 2022 | 6.14 Bn |
| Sep 30, 2022 | 5.73 Bn |
| Jun 30, 2022 | 6.04 Bn |
| Mar 31, 2022 | 5.77 Bn |
| Dec 31, 2021 | 5.87 Bn |
| Sep 30, 2021 | 5.14 Bn |