PayPal vs Samsung: Revenue, Profit and Business Model
PayPal reported $33.2B of revenue in FY2025 and $5.2B of net income. Samsung reported ~$236.9B of revenue in FY2025 and ~$31.4B of net income.
Latest financial snapshot
Financial summary
PayPal
PayPal is large and profitable, but growth has slowed. Revenue climbed from $21.45 billion in 2020 to $33.17 billion in 2025, yet annual growth fell from about 21% to about 4%. Net income reached $5.23 billion in 2025, up from $4.15 billion in 2024. In Q2 2026 revenue rose 5% to $8.68 billion (3% currency-neutral), total payment volume rose 10% to $486.4 billion, transaction margin dollars rose 1% to about $3.9 billion, and non-GAAP EPS was $1.38. Management then raised full-year 2026 non-GAAP EPS guidance to about $5.38 and guided to at least $6 billion of adjusted free cash flow, most of which goes to buybacks. The stock still trades at roughly 10 times earnings, which shows how skeptical investors are about long-term branded checkout growth.
Samsung
Samsung's earnings follow the memory cycle. Revenue fell from ~$215 billion (KRW 302.2 trillion) in 2022 to ~$184 billion (KRW 258.9 trillion) in 2023 during a chip downturn, then recovered to ~$214 billion (KRW 300.9 trillion) in 2024 and ~$237 billion (KRW 333.6 trillion) in 2025, when net income reached about $31.5 billion (KRW 44.3 trillion). In 2026, AI server demand created a memory shortage. Q1 operating profit of ~$40.6 billion (KRW 57.2 trillion) exceeded the full-year 2025 total, and Q2 reached ~$63.5 billion (KRW 89.5 trillion) on ~$122 billion (KRW 171.5 trillion) revenue. Higher memory costs also squeezed Samsung's own devices: the MX and Networks unit lost ~$497 million (KRW 0.7 trillion) in Q2 2026 on ~$23.6 billion (KRW 33.2 trillion) revenue.
Revenue and profit by year
PayPal
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $33.2B | $5.2B | 15.8% | +4.3% | Source |
| FY2024 | $31.8B | $4.1B | 13.0% | +6.8% | Source |
| FY2023 | $29.8B | $4.2B | 14.3% | +8.2% | Source |
| FY2022 | $27.5B | $2.4B | 8.8% | +8.5% | Source |
| FY2021 | $25.4B | $4.2B | 16.4% | +18.3% | Source |
| FY2020 | $21.5B | $4.2B | 19.6% | +20.7% | Source |
| FY2019 | $17.8B | $2.5B | 13.8% | +15.0% | Source |
| FY2018 | $15.5B | $2.1B | 13.3% | +18.0% | Source |
| FY2017 | $13.1B | $1.8B | 13.7% | +20.8% | Source |
| FY2016 | $10.8B | $1.4B | 12.9% | — | Source |
Samsung
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$236.9B | ~$31.4B | 13.3% | +10.9% | Source |
| FY2024 | ~$213.6B | ~$23.9B | 11.2% | +16.2% | Source |
| FY2023 | ~$183.8B | ~$10.3B | 5.6% | -14.3% | Source |
| FY2022 | ~$214.6B | ~$38.9B | 18.1% | +8.1% | Source |
| FY2021 | ~$198.5B | ~$27.9B | 14.0% | — | Source |
Where the revenue comes from
PayPal
- Transaction RevenueDominant
Merchant fees and payment-related revenue from branded and unbranded volume.
- Value-Added ServicesMaterial
Interest, credit products, fraud tools, merchant services, and other payments-adjacent products.
- Venmo and Consumer Financial ServicesGrowing
Consumer payment and commerce monetization around Venmo and wallet products.
Samsung
- Memory semiconductors
- Foundry and system LSI
- Galaxy smartphones and mobile devices
- Display panels
- TVs and appliances
- Network equipment
- Harman automotive and audio
Business model and strategy
PayPal
How it makes money
PayPal makes most of its money from transaction revenue: fees merchants pay when customers check out with the PayPal or Venmo button (branded checkout), fees on unbranded card processing through Braintree, and consumer fees such as instant transfers, cross-border and currency conversion charges. Branded checkout carries the highest margin because PayPal controls the customer relationship;
Growth strategy
Under Enrique Lores, PayPal's 2026 plan has three parts. First, restore growth in branded checkout, which rose only about 2% in Q2 2026, by improving conversion, Fastlane guest checkout and agentic or AI-assisted commerce. Second, make Venmo and Braintree pull more weight: Venmo is being pushed into merchant payments and debit cards, while Braintree is priced for profit rather than volume.
Competitive advantage
PayPal's edge is a two-sided network: about 439 million active accounts at the end of 2025 on one side and millions of merchants on the other. Shoppers who already store cards and bank accounts in PayPal can pay without typing details, and merchants add the button because it can lift conversion with those shoppers. Processors such as Stripe and Adyen serve merchants but do not own a consumer wallet of that size.
Samsung
How it makes money
Samsung earns money from two groups of businesses. Device Solutions (DS) makes and sells memory (DRAM, HBM, NAND), System LSI chips such as Exynos processors and ISOCELL image sensors, and contract foundry manufacturing.
Growth strategy
Samsung's growth plan centers on AI memory: ramping HBM4 for Nvidia and AMD accelerators, developing HBM4E, and adding DRAM capacity at Pyeongtaek. In foundry it is pursuing 2nm gate-all-around production and building its Taylor, Texas fab to win customers from TSMC. On the device side it relies on Galaxy AI features, foldables and premium TVs to defend share against Apple and Chinese brands.
Competitive advantage
Samsung's edge is manufacturing scale and breadth. It is the largest memory producer and one of only three major DRAM makers, alongside SK hynix and Micron. That lets it capture pricing upswings like the 2026 AI-driven shortage.
Questions about PayPal vs Samsung
Which company has higher revenue — PayPal Holdings, Inc. or Samsung Electronics Co., Ltd.?
PayPal Holdings, Inc. reported $33.2B (FY2025), while Samsung Electronics Co., Ltd. reported ~$236.9B (FY2025). By last reported revenue, Samsung Electronics Co., Ltd. is the larger business, with PayPal Holdings, Inc. reporting a smaller revenue base.
What is the market cap of PayPal Holdings, Inc. vs Samsung Electronics Co., Ltd.?
PayPal Holdings, Inc.'s market capitalisation stands at $47.0B, while Samsung Electronics Co., Ltd.'s is $1.33T. Samsung Electronics Co., Ltd. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to PayPal Holdings, Inc..
Which is more financially efficient — PayPal Holdings, Inc. or Samsung Electronics Co., Ltd.?
PayPal Holdings, Inc. generates $1.39M / employee in revenue per employee, while Samsung Electronics Co., Ltd. generates $914k / employee. PayPal Holdings, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do PayPal Holdings, Inc. and Samsung Electronics Co., Ltd. make money?
PayPal Holdings, Inc. and Samsung Electronics Co., Ltd. generate revenue in fundamentally different ways. PayPal Holdings, Inc.: PayPal makes most of its money from transaction revenue: fees merchants pay when customers check out with the PayPal or Venmo button (branded checkout), fees on unbranded card processing through Braintree, and consumer fees such as instant transfers, cross-border and currency conversion charges. Samsung Electronics Co., Ltd.: Samsung earns money from two groups of businesses.
Which company is valued higher relative to revenue — PayPal Holdings, Inc. or Samsung Electronics Co., Ltd.?
On a price-to-sales (P/S) basis, PayPal Holdings, Inc. trades at 1.4x P/S and Samsung Electronics Co., Ltd. at 5.6x P/S. Samsung Electronics Co., Ltd. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to PayPal Holdings, Inc.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is PayPal Holdings, Inc. bigger than Samsung Electronics Co., Ltd.?
By last reported revenue, Samsung Electronics Co., Ltd. (~$236.9B (FY2025)) is the larger company compared to PayPal Holdings, Inc. ($33.2B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the PayPal vs Samsung overview