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Paypay Corp key statistics and ratios

In fiscal 2026, Paypay Corp had return on equity of 48.6%, an operating margin of 21.0% and debt equal to 143.3% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2024Mar 20242025Mar 20252026Mar 2026
Operating margin0.0%11.9%21.0%
Net margin−1.3%12.1%30.2%
Free-cash-flow margin17.8%50.5%96.9%
Return on equity−1.8%24.6%48.6%
Return on assets—0.9%2.6%
Asset turnover—0.070.09
Debt to equity0.0%400.0%143.3%
Interest cover (operating income ÷ interest)0.0x8.3x7.6x
Effective tax rate—−12.0%−47.4%
Capital spending as % of revenue1.8%1.6%1.7%
Free cash flow ÷ net income—417.5%320.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 1 checks passed · March 31, 2026
  • Short-term assets cover short-term liabilities The company doesn't report a short-term split. Not assessable.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $532m against $70m of interest.

From Paypay Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Paypay Corp's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Paypay Corp.