As of Q4'25, PayPal's latest gross margin stands at 46.5%, with operating margin at 17.4% and net profit margin at 16.6%. These figures represent the most recent quarterly performance, reflecting a notable improvement across all margin metrics compared to earlier quarters in the period from Q1'23 to Q4'25. Over the observed period, gross margin has shown a gradual upward trend, rising from 40.2% in Q1'23 to 46.5% in Q4'25, indicating enhanced cost efficiency or pricing power. Operating and net profit margins have also generally improved, despite some volatility—particularly a dip in Q1'24—before recovering towards the end of 2025. The consistent gains in all three margin categories suggest strengthening profitability and operational leverage for PayPal over the last three years.