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PYPL trades against a final fair-value range of $76.10-$124.14, with the midpoint set by the accepted valuation synthesis rather than earlier draft model outputs. Fair value range: low $76.1, high $124, with mid-point at $100.
Stock analysis

PYPL fair value $76–$124

By StockMarketAgent.AI team· supervised by
Đã phân tích: 2026-05-09Cập nhật tiếp theo: 2026-08-09Methodology v2.5Review: automatedArchetype: Mature compounder
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Giá
$45.37
▲ +54.72 (+120.61%)
Giá trị hợp lý
$100
$76–$124
Khuyến nghị
Mua mạnh
confidence 88/100
Tiềm năng tăng
+120.6%
upside to fair value
Biên an toàn
$85.08
MoS level · 15%
Vốn hóa thị trường
$40.0B
P/E fwd 7.8
Dự phòng tiếng AnhVI
Hiển thị bản gốc tiếng Anh trong khi đang dịch
Báo cáo này chưa được dịch. Hãy làm mới sau vài phút khi hàng đợi dịch xử lý xong.

§1 Tóm tắt điều hành

  • Composite fair value $100 with high case $124.
  • Implied upside of 120.6% to fair value.
  • Moat 6/10 · confidence 88/100 · Mature compounder.
  • Trades below fair value with a meaningful cushion to the midpoint.
Fair value
$100
Margin of safety
+54.7%
Confidence
88/100
Moat
6/10

Educational research only - not investment advice, an offer, or a trade instruction. Confirm current data and do your own due diligence before acting.

$45.37Price
Low $76.10
Mid $100.09
High $124.14

PYPL trades against a final fair-value range of $76.10-$124.14, with the midpoint set by the accepted valuation synthesis rather than earlier draft model outputs.

  • Two-sided global network scale with
    Two-sided global network scale with over 400 million active accounts.
  • Deep, legacy merchant integrations via
    Deep, legacy merchant integrations via core checkout and Braintree.
  • Bull thesis
    The market is severely mispricing PayPal with a 7.8x forward P/E, a multiple typical of a credit-risk heavy lender rather than an asset-light transaction network.

§2 Kịch bản tiêu cực

A rapid macroeconomic consumption contraction coincides with accelerated Apple Pay market share gains, severely compressing high-margin branded checkout volume. PayPal is forced to slash Braintree pricing to retain key enterprise merchants, collapsing transaction margin dollars. Operating leverageLeverageThe proportion of debt in the company's capital structure. Commonly measured as Debt/EBITDA, Debt/Equity, or Net Debt/EBITDA. turns negative, breaking the $5B free cash flowFree cash flowOperating cash flow minus capital expenditures. The cash a business generates after maintaining and growing its asset base — the closest accounting proxy for owner-economics. floor and abruptly terminating the share repurchase thesis.

Các cách luận điểm này có thể đổ vỡ

Apple Pay iOS Dominance

· High

Apple heavily restricts iOS payment routing or disadvantages third-party wallets, structurally locking PayPal out of mobile web checkout growth.

FV impact
-30%
Trigger
12-24 months

Braintree Commoditization

· Medium

Adyen and Stripe trigger a race to zero on unbranded processing fees, obliterating PayPal's enterprise segment transaction margins permanently.

FV impact
-15%
Trigger
24-36 months

Fastlane SMB Failure

· Medium

Failure to achieve meaningful penetration with the Fastlane product leaves PayPal's core highly profitable SMB segment vulnerable to Shop Pay.

FV impact
-20%
Trigger
12-18 months
Tín hiệu cảnh báo sớm cần theo dõi
Chỉ sốHiện tạiNgưỡng kích hoạt
Branded checkout volume growth remains negative year-over-year.MonitorDeterioration versus the report thesis
Overall transaction margin declines below 40% for two consecutive quarters.MonitorDeterioration versus the report thesis
Active account churn accelerates past low-single digits globally.MonitorDeterioration versus the report thesis
Free cash flow drops below $4.0B annualized, threatening the buyback cadence.MonitorDeterioration versus the report thesis
Operating margins breach the 15% absolute floor despite headcount reductions.MonitorDeterioration versus the report thesis

§3 Lịch sử tài chính

Báo cáo kết quả kinh doanh — sáu kỳ gần nhất
Khoản mụcT−0T−1T−2T−3CAGR
Kỳ2022-12-312023-12-312024-12-312025-12-31Trend
Doanh thu$27.52B$29.77B$31.80B$33.17B+6.4%
Lợi nhuận gộp$13.77B$13.70B$14.66B$15.47B+3.9%
Lợi nhuận hoạt động$4.04B$4.94B$5.76B$6.40B+16.5%
Lợi nhuận ròng$2.42B$4.25B$4.15B$5.23B+29.3%
EPS (pha loãng)$2.09$3.84$3.99$5.41+37.3%
EBITDA$4.99B$6.83B$6.74B$7.70B+15.6%
R&D$3.25B$2.97B$2.98B$3.10B-1.6%
SG&A$4.36B$3.87B$4.15B$4.26B-0.7%

Điểm chất lượng

Điểm Piotroski F
9 / 9
Điểm chất lượng tổng hợp 0–9
Điểm Altman Z
1.86
Rủi ro phá sản (>3 an toàn)
Điểm Beneish M
-2.54
Rủi ro thao túng lợi nhuận
OCF / Lợi nhuận ròng
1.23×
>1 cho thấy chất lượng lợi nhuận cao
Cổng chất lượng kế toán
Pass
Cổng điều chỉnh theo ngành
ROIC
17.6%
Tỷ suất sinh lời trên vốn đầu tư
Phần 3

Numbers analysis

Dòng tiền

Cash-flow quality is reflected in the OCFOperating cash flowCash generated from the company's core operations after working-capital changes but before capital expenditures. The first line of the cash-flow statement. / net incomeNet IncomeNet Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, net income, or per-share earnings. It should be compared across periods and against peer disclosure conventions., accounting-quality, and ROICROICReturn on invested capital. Operating profit (after tax) divided by invested capital. The single best gauge of capital-efficiency. Spread over WACC = economic value created. rows above.

Phân bổ vốn

Capital allocation should be evaluated against reinvestment needs, balance-sheet strength, and shareholder returns.

Người đăng ký cá nhân — từ §411 phần nữa

Đọc phân tích đầy đủ — 11 phần nữa.

Competitive moat, industry cycle, peer comparison, intrinsic valuation, sensitivity, scenarios, earnings decision tree, position management, investor perspectives, scorecard, and final recommendation.

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REVERSE DCF FAQ

PYPL reverse dcf questions

  1. Reverse DCF for PYPL (PYPL) backs out the revenue or earnings growth rate the current share price implies, holding terminal value, margin, and discount-rate assumptions constant.

FAQ

PYPL — frequently asked questions

  1. Based on our latest analysis, PYPL looks meaningfully undervalued. The current price is $45.4 versus a composite fair-value midpoint of $100 (range $76.1–$124), which implies roughly 120.6% upside to the midpoint.

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Same archetype: mature-compounder