Paypal 1 minute valuation
PYPL 0.00%↑ got roughly $6bn ($5bn net of SBC) of free cash flow they can use to repurchase stock. At current share price that allows 7% share reduction. Single-digit growth should bring double-digit returns. Worst case scenario the company stagnates but I don't see it declining.
No Growth/Stagnation: PYPL 0.00%↑ returns 7% through stock repurchases. However, if the 2nd year the price stays the same, stock repurchases compound and return grows to 8% (and so on). Eventually you've got double-digit growth thanks to smart repurchases.
Growth: PYPL 0.00%↑ expects that single/double-digit growth in TM $ should bring less than half growth in OPEX (23% of revenues), signaling operating leverage. Moderate growth rates in topline (5-10%) will bring organic double-digit growth + $5bn net of SBC to repurchase stocks.
Conclusion
At $60s, PYPL 0.00%↑ seems pretty attractive, with (a) "no growth" scenario offering >7% growth and (b) 5-10% Transaction Margin growth scenario offering 15-20% growth.