# PayPay Corporation American Depository Shares (PAYP.US)

Canonical: https://gigainvestors.com/s/PAYP

Analysis as of: 2026-10-16T07:31:03.146Z. 

Listing currency: USD. Reporting currency: JPY.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $14.66 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Jeffrey Ubben](https://gigainvestors.com/VA): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 34% since Apr 2026

Story as of 2026-10-16T10:01:27.282Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in software infrastructure; annual sales are JPY 403.6 billion.

- Source: https://www.sec.gov/Archives/edgar/data/2080845/000119312526289382/payp-20260331.htm (filed 2026-06-30); FY2026: revenue 403618905000; grossProfit 204292694000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); PAYP.US: PayPay Corporation, a digital finance platform, provides payment and financial services in Japan. It operates through two segments, Payment and Financial Service. The Payment segment provides payment settlement and related services through its PayPay app; and credit payment services, such as revolving and installment payment options and cash advances. The Financial service segment offers internet banking, securities intermediary, PayPay Point investment-related, and loan management services. It also provides PayPay settlement, PayPay balance, PayPay credit, payments using linked services, utility bill and tax payments, payments using PayPay bank app, overseas payment mode, credit payment settlement, revolving and installment payment option, cash advance, and acquiring services; and in financial services comprising internet banking, deposit accounts and remittance, lending, foreign exchange transaction, digital securities, app-based investment, PayPay securities app, automated investing, CFD trading, PayPay point management, and loan management services through credit engine. In addition, the company offers other value-added services for users and enterprises, such as insurance and marketing services that merchants have the option to subscribe. It serves users and merchants through PayPay brand names. The company was incorporated in 2018 and is headquartered in Shinjuku, Japan.

### Why customers stay

Margins ranged from 50.6% to 85.8% during 2024–26.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-30); FY2024: grossProfit / revenue = 84.8%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-30); FY2025: grossProfit / revenue = 85.8%.

- Source: https://www.sec.gov/Archives/edgar/data/2080845/000119312526289382/payp-20260331.htm (filed 2026-06-30); FY2026: grossProfit / revenue = 50.6%.

### Where the cash goes

Reinvests 8.2% of cash earnings; paid dividends in 4 of 4 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-30); FY2025: growth capex 695000000; upkeep 21391000000; cash acquisitions 7119000000; owner earnings 36170000000. Growth capex plus acquisitions / owner earnings = 0.21603538844346143.

- Source: https://www.sec.gov/Archives/edgar/data/2080845/000119312526289382/payp-20260331.htm (filed 2026-06-30); FY2026: growth capex 0; upkeep 6753100000; cash acquisitions 11655000000; owner earnings 142237117000. Growth capex plus acquisitions / owner earnings = 0.08194063719668897.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-30); Dividend observations: [[2023,4929000000],[2024,179000000],[2025,283000000],[2026,329756000]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 90.7% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); PAYP.US SharesStats.PercentInsiders = 90.673 percentage points; cache date 2026-10-16.

### What the price says

The price is 3.7 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-30); Closing price 14.655 USD; reporting-to-trading FX 0.00632; FY2026 annual sales per share 626.4770024669497; price multiple 3.7013794677106002. FY2026 cash earnings/share 220.77331263187685. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2026-03: $21.34 per share

- 2026-04: $22.14 per share

- 2026-05: $19.52 per share

- 2026-06: $14.33 per share

- 2026-07: $15.13 per share

- 2026-08: $15.13 per share

- 2026-09: $15.70 per share

- 2026-10: $14.66 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/2080845/000119312526289382/payp-20260331.htm); period 2026-03-31, filed 2026-06-30.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.