Aug. 15 at 3:52 PM
$PYPL Please stop believing Wall Street’s narrative. PayPal is the fintech market leader. If PayPal’s margins are under pressure, then everyone else’s is too. PayPal still has the highest margins of all fintechs.
Let’s look at Adyen and PayPal, because both sometimes get compared, and analysts praise Adyen because of its higher margins compared to PayPal. But is that really true?
Full year 2025
Adyen
Transaction volume:
$1.4T per year
Revenue:
$2.4B per year
Net income:
$1.3B per year
PayPal
Transaction volume:
$1.8T per year
Revenue:
$33B per year
Net income:
$5.2B per year
As you can see, PayPal can extract much more money from its transaction volume than Adyen. That means PayPal’s margins are much higher than Adyen’s.
If you really believe Wall Street, no one can help you. Do your own DD and compare all the numbers. Don’t blindly trust corporate numbers—they mix things together to make whatever looks best.
Just look at the key numbers yourself and compare.
