| Stage | PYPL | % of rev | V | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $8.6B | 100.00% | $11.6B | 100.00% | V ×1.36 |
| Gross profit | $8.6B | 100.00% | $9.2B | 78.87% | PYPL +21.1pp |
| Operating income | $1.4B | 16.33% | $6.9B | 59.12% | V +42.8pp |
| Pre-tax income | $1.4B | 16.01% | $6.8B | 58.74% | V +42.7pp |
| Net income | $1.1B | 12.50% | $5.6B | 48.38% | V +35.9pp |
| Stage | PYPL | V | Gap · A − B |
|---|---|---|---|
| Revenue | $8.6B100.00% | $11.6B100.00% | V ×1.36 |
| Gross profit | 100.00%$8.6B | 78.87%$9.2B | PYPL +21.1pp |
| Operating income | 16.33%$1.4B | 59.12%$6.9B | V +42.8pp |
| Pre-tax income | 16.01%$1.4B | 58.74%$6.8B | V +42.7pp |
| Net income |
| 12.50%$1.1B |
| 48.38%$5.6B |
| V +35.9pp |
PYPL · EVCM 10-KMar 12 '26
“Our contracts with Worldpay and PayPal provide for certain termination events, such as material breach, and are subject to automatic annual renewal unless terminated by either party upon prior notice or for cause.”
V · EVCM 10-KMar 12 '26
“We are dependent on payment card networks, such as Visa and MasterCard, and payment processors, such as Worldpay and PayPal, and if we fail to comply with the applicable requirements of the payment networks or our payment processors, they can seek to fine us, suspend us, terminate our agreements and/or terminate our registrations through our bank sponsors.”
PYPL · USIO 10-KMar 18 '26
“Throughout 2025, we enhanced our Consumer Choice product to accommodate additional methods of disbursement, such as issuing funds through PayPal and Venmo, alongside integration with the PIN4 network to allow cardless ATM withdrawals.”
V · USIO 10-KMar 18 '26
“We extend merchant services across major card networks (VISA, Mastercard, American Express, Discover), supported by online and physical terminal access.”