PayPal Holdings, Inc.
5.12xPrice / tangible book
Market cap
$47.03B
Tangible equity
$9.18B
Price / tangible book
5.12x
Price / book
2.32x
Return on equity
25.8%
Return on assets
6.5%
Efficiency ratio
—
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: PYPL stock price at discount vs AXP $53.31 current versus $115.21 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at AXP's multiple
Implied fair value · at PYPL's multiple
Snapshot Sep 8, 2026, 1:47 PM ET
Metric by metric
Filter, sort, and scan the equity metrics that matter most for banks: book value, tangible book, returns, and operating efficiency.
Multiple discount
Multiple discount
Profitability lag
Asset efficiency edge
Lower is better
Statements
Bank-focused income statement and equity metrics aligned to the reporting windows.
SEC periods: PYPL FY 2025 (ended Dec 31, 2025) · AXP FY 2025 (ended Dec 31, 2025).
Trendline
Eight fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Tangible book and profitability anchor a bank, not enterprise value.
Deposits and cash-like balances distort enterprise value for banks, so this section reads equity value, tangible book and profitability instead.
Price / tangible book
Market cap
$47.03B
Tangible equity
$9.18B
Price / tangible book
5.12x
Price / book
2.32x
Return on equity
25.8%
Return on assets
6.5%
Efficiency ratio
—
Price / tangible book
Market cap
$221.18B
Tangible equity
$28.51B
Price / tangible book
7.76x
Price / book
6.61x
Return on equity
32.4%
Return on assets
3.6%
Efficiency ratio
66.1%
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
PayPal Holdings, Inc. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
AMERICAN EXPRESS CO · implied price per share
Bank model off — standard DCF modelling is disabled for financial institutions.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
0.49x
1.73x
Net debt / EBITDA
Leverage against operating earnings
-0.06x
2.61x
Cash and equivalents
Liquid reserves on the balance sheet
$10.42B
$742.00M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider banking comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
$9.99B
$57.76B
LLM-powered synthesis
An explanation of the financial evidence. Check its snapshot date against the figures above.
This explanation uses an earlier data snapshot or evidence version. Review its generation date and the current figures, or refresh after signing in.
If you believe PYPL can sustain its 18.3% operating margin while re-accelerating growth toward AXP’s 6.4% pace, then the stock looks attractive because the current 10.3x P/E is far below AXP’s 22.8x and AXP-implied valuation points to large upside.
PYPL trades at a meaningful discount to AXP on both P/E and P/S, while AXP-implied value suggests substantial upside if PYPL were re-rated closer to AXP’s multiple set. However, the stock is also already near the upper end of its historical band, which makes AXP gap look less compelling in isolation.
Supporting Metrics