New Delhi, March 5 -- Noida-based payments major Paytm has one of the lowest employee stock ownership plan (or ESOP) costs in the industry and spends low proportion of its revenue on stock compensation among listed new-age technology companies, according to a report by BofA Global Research.

The brokerage report noted that Paytm's ESOP cost stood at about 1.6 per cent of revenue in the first half (H1) of FY26, which is lower than several internet and fintech peers.

In contrast, the report highlighted that ESOP payouts at some new-age companies including the likes of PhonePe, Pine Labs, Urban Company, account for a materially higher share of revenue, weighing on reported revenues.

ESOP expense reflects the cost of stock-based compensatio...