NASDAQ : PAYP
PayPay Corporation — Financial statements
Financials · Credit Services · Japan
Last price 14.09 USD (Oct 30, 2026, 2:58 PM EDT) · Market cap 9.54B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
PayPay Corporation (PAYP) reported revenue of 401.59B JPY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in JPY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Operating Revenue | 232.36B | 219.90B | 175.24B | 147.23B | 121.59B |
| Other Revenue | 169.23B | 158.51B | 122.54B | 105.63B | 77.81B |
| Revenue | 401.59B | 378.41B | 297.77B | 252.85B | 199.40B |
| Cost of Revenue | 127.30B | 120.83B | 106.71B | 99.03B | 82.37B |
| Gross Profit | 216.53B | 200.80B | 142.57B | 111.40B | 80.03B |
| Selling, General & Admin | 19.50B | 19.98B | 19.77B | 26.28B | 23.52B |
| Other Operating Expenses | 103.05B | 100.73B | 87.29B | 85.11B | 77.06B |
| Operating Expenses | 122.55B | 120.71B | 107.06B | 111.39B | 100.58B |
| Operating Income | 93.98B | 80.08B | 35.51B | 11.00M | -20.55B |
| Earnings From Equity Investments | -92.00M | -137.00M | -549.00M | ||
| Pretax Income | 93.89B | 79.94B | 34.96B | 11.00M | -20.55B |
| Income Tax Expense | -32.86B | -37.87B | -4.20B | 841.00M | 4.40B |
| Earnings From Continuing Operations | 126.75B | 117.81B | 39.16B | -830.00M | -24.95B |
| Minority Interest in Earnings | -3.80B | -2.78B | -2.99B | -2.52B | -910.00M |
| Net Income | 122.95B | 115.03B | 36.17B | -3.35B | -25.86B |
| Net Income to Common | 122.95B | 115.03B | 36.17B | -3.35B | -25.86B |
| Shares Outstanding (Basic) | 649.11M | 637.58M | 550.00M | 550.00M | 440.70M |
| Shares Outstanding (Diluted) | 657.02M | 644.26M | 550.00M | 550.00M | 440.70M |
| EPS (Basic) | 189.41 | 180.42 | 65.76 | -6.09 | -58.67 |
| EPS (Diluted) | 187.13 | 178.55 | 65.76 | -6.09 | -58.70 |
| Free Cash Flow | 228.04B | 368.93B | 151.03B | 45.39B | -204.99B |
| Free Cash Flow Per Share | 347.08 | 572.64 | 274.60 | 82.53 | -465.14 |
| Gross Margin | 53.92% | 53.06% | 47.88% | 44.06% | 40.14% |
| Operating Margin | 23.40% | 21.16% | 11.92% | 0.00% | -10.30% |
| Profit Margin | 30.62% | 30.40% | 12.15% | -1.32% | -12.97% |
| Free Cash Flow Margin | 56.78% | 97.50% | 50.72% | 17.95% | -102.80% |
| EBITDA | 101.44B | 87.01B | 41.35B | 16.00B | -8.86B |
| EBITDA Margin | 25.26% | 22.99% | 13.88% | 6.33% | -4.44% |
| D&A For EBITDA | 7.46B | 6.92B | 5.84B | 15.99B | 11.69B |
| EBIT | 93.98B | 80.08B | 35.51B | 11.00M | -20.55B |
| EBIT Margin | 23.40% | 21.16% | 11.92% | 0.00% | -10.30% |
| Effective Tax Rate | 7,645.45% | ||||
| Revenue as Reported | 404.30B | 380.66B | 299.08B | 254.61B | 201.19B |
| Advertising Expenses | 10.01B | 10.73B | 11.46B | 14.31B |
Balance sheet
Fiscal year April - March; amounts in JPY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 74.90B | 53.44B | 141.29B | 489.95B | 859.31B |
| Short-Term Investments | 1.82B | ||||
| Cash & Short-Term Investments | 74.90B | 53.44B | 141.29B | 491.77B | 859.31B |
| Accounts Receivable | 1.30T | 1.28T | 1.00T | 806.80B | 1.41T |
| Other Receivables | 32.88B | 40.40B | 29.71B | 35.59B | |
| Receivables | 1.33T | 1.36T | 1.10T | 958.47B | 1.50T |
| Finance Div. Loans and Leases | 1.33T | 1.24T | 925.66B | 723.00B | |
| Finance Div. Other Current Assets | 437.37B | 333.35B | 252.55B | 368.01B | |
| Prepaid Expenses | 6.91B | 6.50B | 6.54B | ||
| Restricted Cash | 697.00M | 697.00M | 734.00M | 1.63B | |
| Other Current Assets | 213.31B | 186.33B | 351.24B | 325.72B | 282.29B |
| Total Current Assets | 3.39T | 3.18T | 2.78T | 2.88T | 2.65T |
| Property, Plant & Equipment | 26.52B | 27.05B | 29.29B | 23.39B | 24.03B |
| Long-Term Investments | 12.76B | 12.76B | 1.01B | ||
| Goodwill | 15.16B | 15.16B | 15.16B | 9.92B | 9.92B |
| Other Intangible Assets | 66.44B | 66.47B | 65.67B | 61.69B | 56.55B |
| Long-Term Deferred Tax Assets | 103.08B | 107.28B | 49.39B | 34.26B | 29.20B |
| Long-Term Deferred Charges | 29.27B | 29.39B | 30.83B | ||
| Other Long-Term Assets | 145.71B | 66.54B | 36.74B | 16.38B | 523.44B |
| Total Assets | 5.49T | 5.18T | 4.04T | 3.81T | 3.29T |
| Accounts Payable | 23.41B | 21.95B | 18.80B | 21.18B | 673.06B |
| Accrued Expenses | 30.82B | 26.86B | 18.68B | ||
| Short-Term Debt | 87.00B | 73.00B | 84.00B | 112.00B | |
| Finance Div. Other Current Liabilities | 2.22T | 2.09T | 1.69T | 1.57T | |
| Current Income Taxes Payable | 5.92B | 13.07B | 6.48B | 4.11B | 2.74B |
| Other Current Liabilities | 1.06T | 1.11T | 935.44B | 793.80B | |
| Total Current Liabilities | 3.39T | 3.33T | 2.76T | 2.52T | 675.80B |
| Long-Term Debt | 302.93B | 280.82B | 213.05B | 389.32B | 494.54B |
| Finance Div. Debt Long-Term | 367.58B | 211.58B | 103.50B | 102.79B | |
| Finance Div. Other Long-Term Liabilities | 410.75B | 305.70B | 236.51B | ||
| Long-Term Leases | 8.49B | 9.10B | 11.12B | 6.84B | 8.70B |
| Long-Term Unearned Revenue | 4.29B | 2.90B | 3.36B | ||
| Long-Term Deferred Tax Liabilities | 223.00M | 206.00M | 377.00M | 98.00M | |
| Other Long-Term Liabilities | 971.76B | 494.00B | 421.49B | 356.06B | 1.92T |
| Total Liabilities | 5.04T | 4.75T | 3.82T | 3.62T | 3.10T |
| Common Stock | 201.04B | 200.63B | 91.43B | 94.18B | 116.45B |
| Additional Paid-In Capital | 87.22B | 86.73B | 13.73B | 14.62B | 17.97B |
| Retained Earnings | 128.30B | 109.87B | -4.89B | -43.52B | -62.26B |
| Comprehensive Income & Other | -3.14B | -3.06B | -379.00M | -119.00M | -108.00M |
| Total Common Equity | 413.42B | 394.18B | 99.89B | 65.16B | 72.06B |
| Minority Interest | 36.51B | 36.58B | 123.84B | 126.09B | 119.48B |
| Shareholders' Equity | 449.93B | 430.76B | 223.73B | 191.25B | 191.54B |
| Total Liabilities & Equity | 5.49T | 5.18T | 4.04T | 3.81T | 3.29T |
| Total Debt | 766.00B | 574.50B | 411.68B | 610.95B | 503.24B |
| Net Cash (Debt) | -691.11B | -521.07B | -270.39B | -119.18B | 356.07B |
| Net Cash Per Share | -1,051.87 | -808.78 | -491.61 | -216.69 | 807.97 |
| Filing Date Shares Outstanding | 677.34M | 677.14M | 550.00M | 550.00M | 440.70M |
| Total Common Shares Outstanding | 677.34M | 676.96M | 550.00M | 550.00M | 440.70M |
| Working Capital | -2.37B | -154.24B | 15.43B | 355.01B | 1.97T |
| Book Value Per Share | 610.35 | 582.28 | 181.63 | 118.48 | 163.51 |
| Tangible Book Value | 331.82B | 312.56B | 19.07B | -6.45B | 5.59B |
| Tangible Book Value Per Share | 489.88 | 461.71 | 34.67 | -11.72 | 12.69 |
| Machinery | 25.50B | 22.25B | 19.44B | 17.86B | |
| Construction In Progress | 763.00M | 556.00M | 806.00M | 967.00M | |
| Leasehold Improvements | 3.00B | 3.04B | 2.75B | 2.51B |
Cash flow statement
Fiscal year April - March; amounts in JPY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Net Income | 122.95B | 115.03B | 36.17B | -3.35B | -25.86B |
| Depreciation & Amortization | 10.59B | 10.05B | 8.66B | 18.59B | 14.65B |
| Other Amortization | 15.43B | 15.43B | 12.73B | ||
| Loss (Gain) From Sale of Assets | 1.40B | 1.34B | 696.00M | 1.50B | 324.00M |
| Stock-Based Compensation | 2.01B | 1.85B | |||
| Other Operating Activities | -49.77B | -41.44B | 3.16B | -3.97B | 13.56B |
| Change in Accounts Receivable | -26.76B | -9.33B | -3.27B | 50.35B | -45.58B |
| Change in Accounts Payable | 180.48B | 173.86B | 145.56B | 130.74B | 19.80B |
| Change in Other Net Operating Assets | -22.28B | 108.50B | -47.86B | -143.88B | -171.61B |
| Operating Cash Flow | 234.05B | 375.30B | 155.85B | 49.98B | -194.70B |
| Capital Expenditures | -6.01B | -6.37B | -4.82B | -4.58B | -10.28B |
| Cash Acquisitions | -5.76B | ||||
| Divestitures | 4.60B | ||||
| Sale (Purchase) of Intangibles | -17.33B | -17.82B | -17.26B | -17.91B | -19.10B |
| Investment in Securities | -472.65B | -602.33B | -286.79B | -247.57B | 46.64B |
| Other Investing Activities | -3.93B | -2.30B | -5.34B | -3.32B | 168.16B |
| Investing Cash Flow | -499.91B | -628.83B | -319.98B | -273.38B | 190.01B |
| Short-Term Debt Issued | 199.98B | 30.00B | 85.00B | ||
| Long-Term Debt Issued | 722.60B | 842.30B | 595.10B | 519.00B | |
| Total Debt Issued | 758.55B | 922.58B | 842.30B | 625.10B | 604.00B |
| Short-Term Debt Repaid | -128.70B | ||||
| Long-Term Debt Repaid | -759.95B | -920.72B | -518.83B | -545.79B | |
| Lease Payments | -2.57B | -2.74B | -2.82B | -2.41B | -2.74B |
| Total Debt Repaid | -617.83B | -759.95B | -1.05T | -518.83B | -545.79B |
| Net Debt Issued (Repaid) | 140.72B | 162.63B | -207.12B | 106.27B | 58.21B |
| Issuance of Common Stock | 95.90B | 217.52B | 3.44B | ||
| Common Dividends Paid | -311.00M | -283.00M | -179.00M | -4.93B | |
| Other Financing Activities | -146.00M | -133.09B | -2.92B | -1.60B | -21.30B |
| Financing Cash Flow | 236.48B | 246.75B | -210.32B | 107.93B | 31.99B |
| Foreign Exchange Rate Adjustments | 105.00M | 50.00M | -59.00M | 488.00M | 419.00M |
| Net Cash Flow | -29.28B | -6.73B | -374.51B | -114.99B | 27.72B |
| Free Cash Flow | 228.04B | 368.93B | 151.03B | 45.39B | -204.99B |
| Free Cash Flow Margin | 56.78% | 97.50% | 50.72% | 17.95% | -102.80% |
| Free Cash Flow Per Share | 347.08 | 572.64 | 274.60 | 82.53 | -465.14 |
| Levered Free Cash Flow | 47.13B | 146.00B | 38.60B | 1.13T | |
| Unlevered Free Cash Flow | 47.13B | 146.00B | 38.60B | 1.13T | |
| Free Cash Flow After Leases | 225.48B | 366.18B | 148.21B | 42.98B | -207.73B |
| Cash Income Tax Paid | 17.78B | 11.70B | 6.28B | 3.87B | 3.57B |
| Change in Working Capital | 131.44B | 273.03B | 94.44B | 37.21B | -197.39B |
Ratios
Fiscal year April - March; amounts in JPY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Market Capitalization | 9.50B | 14.44B | |||
| Enterprise Value | 13.75B | 17.58B | |||
| Last Close Price | 14.03 | 21.34 | |||
| PE Ratio | 12.19 | 19.97 | |||
| Forward PE | 16.70 | 24.59 | |||
| PS Ratio | 3.85 | 6.07 | |||
| PB Ratio | 3.74 | 5.33 | |||
| P/TBV Ratio | 4.66 | 7.35 | |||
| P/FCF Ratio | 6.58 | 6.22 | |||
| P/OCF Ratio | 6.41 | 6.12 | |||
| EV/Sales Ratio | 5.57 | 7.38 | |||
| EV/EBITDA Ratio | 22.04 | 32.12 | |||
| EV/EBIT Ratio | 23.79 | 34.90 | |||
| EV/FCF Ratio | 9.52 | 7.58 | |||
| Debt / Equity Ratio | 1.70 | 1.33 | 1.84 | 3.19 | 2.63 |
| Debt / EBITDA Ratio | 7.33 | 6.37 | 9.32 | 32.84 | |
| Debt / FCF Ratio | 3.36 | 1.56 | 2.73 | 13.46 | |
| Net Debt / Equity Ratio | 1.54 | 1.21 | 1.21 | 0.62 | -1.86 |
| Net Debt / EBITDA Ratio | 6.81 | 5.99 | 6.54 | 7.45 | 40.20 |
| Net Debt / FCF Ratio | 3.03 | 1.41 | 1.79 | 2.63 | 1.74 |
| Asset Turnover | 0.08 | 0.08 | 0.08 | 0.07 | |
| Quick Ratio | 0.81 | 0.79 | 0.77 | 0.82 | 3.35 |
| Current Ratio | 1.00 | 0.95 | 1.01 | 1.14 | 3.91 |
| Return on Equity (ROE) | 37.27% | 36.00% | 18.87% | -0.43% | |
| Return on Assets (ROA) | 1.19% | 1.09% | 0.57% | 0.00% | |
| Return on Invested Capital (ROIC) | 8.98% | 11.08% | 8.83% | -0.27% | |
| Return on Capital Employed (ROCE) | 4.50% | 4.30% | 2.80% | 0.00% | -0.80% |
| Earnings Yield | 8.21% | 5.01% | |||
| FCF Yield | 15.20% | 16.06% | |||
| Payout Ratio | 0.27% | 0.78% | |||
| Buyback Yield / Dilution | -15.22% | -17.14% | -24.80% |