As of Q4'25, PayPal ( PYPL ) reported Cash & Short-term Investments of $10.4B and Debt of $10B. This marks a slight decrease in cash holdings from the previous quarter, while debt levels also declined modestly. Over the period from Q1'23 to Q4'25, PayPal's cash position showed notable volatility, peaking at $14.3B in Q1'24 before trending downward to $10.4B by Q4'25. Debt remained relatively stable, fluctuating between $9.7B and $11.4B, with a brief increase in early 2025. Overall, the company maintained a cash balance generally above its debt, though the gap narrowed in the most recent quarters.