PayPay Balance Sheet Health

Financial Health criteria checks 2/6

PayPay has a total shareholder equity of ¥320.2B and total debt of ¥568.9B, which brings its debt-to-equity ratio to 177.6%. Its total assets and total liabilities are ¥5,172.2B and ¥4,851.9B respectively.

Key information

177.65%

Debt to equity ratio

JP¥568.88b

Debt

Interest coverage ratio	n/a
Cash	JP¥123.64b
Equity	JP¥320.23b
Total liabilities	JP¥4.85t
Total assets	JP¥5.17t

Recent financial health updates

No updates

Recent updates

PayPay: It Is Time To Buy Japan's Fintech Champion

Mar 16

Financial Position Analysis

Short Term Liabilities: PAYP's short term assets (¥3,210.9B) do not cover its short term liabilities (¥3,396.5B).

Long Term Liabilities: PAYP's short term assets (¥3,210.9B) exceed its long term liabilities (¥1,455.4B).

Debt to Equity History and Analysis

Debt Level: PAYP's net debt to equity ratio (139%) is considered high.

Reducing Debt: Insufficient data to determine if PAYP's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: PAYP's debt is well covered by operating cash flow (56.2%).

Interest Coverage: Insufficient data to determine if PAYP's interest payments on its debt are well covered by EBIT.

Balance Sheet

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/04/28 21:43
End of Day Share Price	2026/04/28 00:00
Earnings	2025/12/31
Annual Earnings	2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

PayPay Corporation is covered by 13 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Mark Palmer	Benchmark Company
Yoshitaka Nagao	BofA Global Research
Ryan Campbell	Cantor Fitzgerald & Co.