PayPay (PAYP) Stock Analysis

November 11, 2026

This is a peer-relative look at PayPay (PAYP): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Financial Services peers, so every number reads in context rather than in isolation.

Company Profile

PayPay (PAYP) trades as an ADR rather than ordinary local shares — read it with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile fields for PayPay (PAYP)
Profile Item	PAYP
Name	PayPay Corp ADR
Country/Region	Japan
GICS Sector	Financials
GICS Industry Group	Financial Services
GICS Industry	Financial Services
GICS Sub-Industry	Transaction & Payment Processing Services
Market Capitalization	10.10 billion USD
Currency	USD
Exchange	Nasdaq
Listing Date	March 12, 2026
Security Type	ADR

Price Performance

Cumulative Growth

PAYP

GSPC

PayPay (PAYP) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for PayPay (PAYP) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for PayPay (PAYP) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

PayPay (PAYP) metric values compared with Financial Services industry-group medians
Metric	Current stock: PAYP	Industry group median
Total Return (1Y)	--	1.90%
Total Return (3Y, Annualized)	--	12.71%
Total Return (5Y, Annualized)	--	2.81%

Risk Profile

Drawdown History

PAYP

GSPC

PayPay (PAYP) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for PayPay (PAYP) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

PayPay (PAYP) metric values compared with Financial Services industry-group medians
Metric	Current stock: PAYP	Industry group median
Volatility (1Y, Annualized)	73.49%	36.24%
Beta (5Y)	0.24	1.04
Max Drawdown (5Y)	-49.63%	-48.56%

Risk-Adjusted Performance

Risk-Return Positioning

PAYP needs both 1-year volatility and 1-year return to plot risk-return positioning.

Risk-Adjusted Metrics

PayPay (PAYP) metric values compared with Financial Services industry-group medians
Metric	Current stock: PAYP	Industry group median
Sharpe Ratio (1Y)	--	-0.09
Sortino Ratio (1Y)	--	-0.13

Profitability

ROE (TTM)

PayPay (PAYP) posts ROE of 18.80%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

PAYP

Financial Services industry group

18.80%

Group distribution

Max: 44.78%
Q3: 21.85%
PAYP: 18.80%
Median: 12.91%
Q1: 4.48%
Min: -18.71%

Largest peers

MA: 231.37%
V: 63.51%
PAYP: 18.80%
MS: 18.04%
GS: 17.71%
BRK.A: 12.12%
BRK.B: 12.12%

Where PayPay (PAYP) stands on ROE within its Financial Services peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

PayPay (PAYP) keeps 15.85% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

PAYP

Financial Services industry group

15.85%

Group distribution

Max: 62.84%
Q3: 28.05%
PAYP: 15.85%
Median: 15.36%
Q1: 4.82%
Min: -28.52%

Largest peers

V: 51.20%
MA: 46.73%
GS: 31.21%
MS: 25.63%
BRK.A: 22.30%
BRK.B: 22.30%
PAYP: 15.85%

Where PayPay (PAYP) stands on net margin within its Financial Services peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

PayPay (PAYP) turns 32.79% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

PAYP

Financial Services industry group

32.79%

Group distribution

Max: 107.33%
Q3: 55.90%
PAYP: 32.79%
Median: 30.09%
Q1: 14.60%
Min: -44.34%

Largest peers

V: 63.73%
MA: 60.53%
MS: 39.00%
GS: 38.37%
PAYP: 32.79%
BRK.A: 32.56%
BRK.B: 32.56%

Where PayPay (PAYP) stands on operating margin within its Financial Services peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

PayPay (PAYP) metric values compared with Financial Services industry-group medians
Metric	Current stock: PAYP	Industry group median
ROE (TTM)	18.80%	12.91%
ROA (TTM)	1.34%	3.60%
Net Margin (TTM)	15.85%	15.36%
Operating Margin (TTM)	32.79%	30.09%
Gross Margin (TTM)	--	--

Growth

Revenue Growth

PayPay (PAYP) grew revenue 25.85%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

PayPay (PAYP): Revenue Growth across different time periods, set against Financial Services industry-group medians.

EPS Growth

PayPay (PAYP) grew earnings per share 230.06%, above the industry benchmark range. Profits are compounding faster than at any typical peer, though a depressed base year can inflate the percentage, so the level of earnings matters alongside the rate.

PayPay (PAYP): EPS Growth across different time periods, set against Financial Services industry-group medians.

Growth Metrics

PayPay (PAYP) metric values compared with Financial Services industry-group medians
Metric	Current stock: PAYP	Industry group median
Revenue Growth (YoY)	25.85%	9.46%
Revenue Growth (3Y CAGR)	23.06%	10.90%
EPS Growth (YoY)	230.06%	7.46%
EPS Growth (3Y CAGR)	--	13.04%

Financial Strength

Current Ratio (MRQ)

current ratio is set aside for PayPay (PAYP) in Financial Services: these balance sheets are not best read through a current/non-current split, so regulatory, funding, or liquidity-coverage measures usually matter more.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for PayPay (PAYP) in Financial Services: leverage is part of the business model itself, so capital adequacy, funding mix, and regulatory measures are usually better risk gauges.

Financial Strength Metrics

PayPay (PAYP) metric values compared with Financial Services industry-group medians
Metric	Current stock: PAYP	Industry group median
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

PayPay (PAYP) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

PAYP

Financial Services industry group

0.00%

Group distribution

Max: 9.77%
Q3: 3.92%
Median: 1.09%
PAYP: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

MS: 2.40%
GS: 2.07%
V: 0.66%
MA: 0.53%
PAYP: 0.00%
BRK.A: 0.00%
BRK.B: 0.00%

Where PayPay (PAYP) stands on dividend yield within its Financial Services peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

PayPay (PAYP) paid no earnings out as dividends this period, leaving payout ratio at 0.00%. There is no dividend payout to size against earnings.

PAYP

Financial Services industry group

0.00%

Group distribution

Max: 241.07%
Q3: 97.36%
Median: 25.77%
PAYP: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

MS: 32.91%
GS: 25.88%
V: 21.75%
MA: 17.63%
PAYP: 0.00%
BRK.A: 0.00%
BRK.B: 0.00%

Where PayPay (PAYP) stands on payout ratio within its Financial Services peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

PayPay (PAYP) metric values compared with Financial Services industry-group medians
Metric	Current stock: PAYP	Industry group median
Dividend Yield (TTM)	0.00%	1.09%
Dividend Payout Ratio (TTM)	0.00%	25.77%

Valuation

P/E Ratio (TTM)

PayPay (PAYP) trades at P/E ratio of 23.30, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

PAYP

Financial Services industry group

23.30

Group distribution

Max: 45.85
Q3: 24.64
PAYP: 23.30
Median: 15.37
Q1: 9.68
Min: 0.16

Largest peers

V: 34.31
MA: 34.15
PAYP: 23.30
MS: 14.39
BRK.A: 14.36
BRK.B: 14.36
GS: 12.45

Where PayPay (PAYP) stands on P/E ratio within its Financial Services peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

PayPay (PAYP) trades at 0.02 on P/S ratio, in the lower sales-valuation quartile for its industry. That points to a cheaper revenue stream than most peers, with margin quality still doing the heavy lifting.

PAYP

Financial Services industry group

0.02

Group distribution

Max: 9.23
Q3: 4.57
Median: 2.72
Q1: 1.28
PAYP: 0.02
Min: -0.55

Largest peers

V: 17.18
MA: 15.67
MS: 3.55
GS: 3.52
BRK.A: 3.18
BRK.B: 3.18
PAYP: 0.02

Where PayPay (PAYP) stands on P/S ratio within its Financial Services peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

PayPay (PAYP) trades at 3.75 on P/B ratio, in the higher book-value quartile. The market is paying a premium to book, so stronger ROE, cleaner assets, or a better growth profile need to justify it.

PAYP

Financial Services industry group

3.75

Group distribution

Max: 7.79
PAYP: 3.75
Q3: 3.63
Median: 1.57
Q1: 0.81
Min: -0.39

Largest peers

MA: 84.30
V: 22.05
PAYP: 3.75
MS: 2.65
GS: 2.36
BRK.A: 1.72
BRK.B: 0.00

Where PayPay (PAYP) stands on P/B ratio within its Financial Services peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

PayPay (PAYP) metric values compared with Financial Services industry-group medians
Metric	Current stock: PAYP	Industry group median
P/E Ratio (TTM)	23.30	15.37
P/S Ratio (TTM)	0.02	2.72
P/B Ratio (MRQ)	3.75	1.57
Free Cash Flow Yield (TTM)	--	--