eBay Inc. (EBAY) 10-Year Financial Performance & Capital Metrics

EBAY •

Consumer CyclicalSpecialty RetailGeneral Online Marketplaces

AbouteBay Inc. operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks. The company was founded in 1995 and is headquartered in San Jose, California.Show more

Revenue $11.1B +7.9%
EBITDA $2.58B -2.5%
Net Income $2.03B +2.8%
EPS (Diluted) 4.34 +10.2%
Gross Margin 71.45% -0.8%
EBITDA Margin 23.2% -9.7%
Operating Margin 20.51% -9.0%
Net Margin 18.3% -4.7%
ROE 41.56% +21.6%
ROIC 17.02% +12.0%
Debt/Equity 1.53 +0.4%
Interest Coverage 9.26 +3.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 41.2%
✓Share count reduced 8.2% through buybacks
✓Healthy 5Y average net margin of 36.5%

✗Weaknesses

✗Profits declining 18.6% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.59%

5Y4.53%

3Y4.26%

TTM7.95%

Profit (Net Income) CAGR

10Y1.65%

5Y-18.55%

3Y-

TTM2.84%

EPS CAGR

10Y11.82%

5Y-11.27%

3Y-

TTM9.6%

ROCE

10Y Avg13.32%

5Y Avg14.4%

3Y Avg14.72%

Latest17.36%

Peer Comparison

General Online Marketplaces

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CPNGCoupang, Inc.	3.01B	19.08	173.45	-72.84%	2.53%	0.93%	17.32%	0.18
SESea Limited	4.94B	108.45	148.56	28.75%	6.23%	12.35%	59.87%	0.49
HOURHour Loop, Inc.	67.18M	1.91	102.14	4.64%	0.59%	10.89%	0.41%	0.14
MELIMercadoLibre, Inc.	89.1B	1757.58	44.62	39.06%	6.91%	29.59%	12.09%	1.69
AMZNAmazon.com, Inc.	2.25T	210.00	29.29	12.38%	10.83%	18.89%	0.34%	0.37
EBAYeBay Inc.	40.8B	90.86	20.94	7.95%	18.3%	44.01%	3.64%	1.53
BABAAlibaba Group Holding Limited	2.66T	144.11	18.44	5.86%	12.19%	11.1%	0.43%	0.23
PDDPDD Holdings Inc.	577.63B	103.73	9.36	59.04%	24.43%	26.13%	3.05%	0.03

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	9.3B	9.93B	8.65B	7.43B	8.89B	10.42B	9.79B	10.11B	10.28B	11.1B
Revenue Growth %	8.22%	6.76%	-12.86%	-14.12%	19.72%	17.16%	-6%	3.24%	1.69%	7.95%
Cost of Goods Sold+	2B	2.22B	2.02B	1.58B	1.8B	2.65B	2.68B	2.83B	2.88B	3.17B
COGS % of Revenue	21.55%	22.37%	23.39%	21.34%	20.2%	25.43%	27.36%	28.02%	28.01%	28.55%
Gross Profit+	7.29B	7.71B	6.63B	5.84B	7.1B	7.77B	7.12B	7.28B	7.4B	7.93B
Gross Margin %	78.45%	77.63%	76.61%	78.66%	79.8%	74.57%	72.64%	71.98%	71.99%	71.45%
Gross Profit Growth %	6.93%	5.65%	-14%	-11.82%	21.44%	9.48%	-8.43%	2.31%	1.7%	7.13%
Operating Expenses+	4.97B	5.44B	4.88B	4.07B	4.46B	4.85B	4.76B	5.34B	5.08B	5.65B
OpEx % of Revenue	53.44%	54.82%	56.36%	54.84%	50.16%	46.52%	48.65%	52.79%	49.45%	50.94%
Selling, General & Admin	3.59B	3.91B	3.56B	2.85B	3.08B	3.09B	3.1B	3.41B	3.23B	3.59B
SG&A % of Revenue	38.61%	39.37%	41.1%	38.42%	34.59%	29.66%	31.64%	33.75%	31.44%	32.36%
Research & Development	1.11B	1.22B	1.05B	930M	1.03B	1.32B	1.33B	1.54B	1.48B	1.64B
R&D % of Revenue	11.98%	12.33%	12.15%	12.52%	11.56%	12.72%	13.58%	15.27%	14.38%	14.79%
Other Operating Expenses	265M	310M	269M	290M	357M	431M	336M	381M	373M	420M
Operating Income+	2.33B	2.26B	1.75B	1.77B	2.64B	2.92B	2.35B	1.94B	2.32B	2.28B
Operating Margin %	25.01%	22.81%	20.25%	23.83%	29.64%	28.05%	23.99%	19.2%	22.54%	20.51%
Operating Income Growth %	5.83%	-2.62%	-22.61%	1.03%	48.93%	10.89%	-19.6%	-17.4%	19.42%	-1.77%
EBITDA+	3.01B	2.94B	2.39B	2.37B	3.22B	3.42B	2.79B	2.34B	2.64B	2.58B
EBITDA Margin %	32.34%	29.62%	27.6%	31.9%	36.19%	32.87%	28.5%	23.18%	25.69%	23.2%
EBITDA Growth %	4.26%	-2.23%	-18.81%	-0.71%	35.82%	6.4%	-18.48%	-16.05%	12.71%	-2.54%
D&A (Non-Cash Add-back)	682M	676M	635M	600M	583M	502M	442M	403M	324M	298M
EBIT	3.88B	2.57B	2.59B	1.96B	3.65B	667M	-1.37B	3.97B	2.54B	2.49B
Net Interest Income+	-100M	-115M	-166M	-199M	-266M	-250M	-162M	-59M	13M	-48M
Interest Income	125M	177M	176M	0	38M	19M	73M	204M	272M	198M
Interest Expense	225M	292M	342M	199M	304M	269M	235M	263M	259M	246M
Other Income/Expense	1.33B	11M	497M	-118M	709M	-2.52B	-3.95B	1.77B	-40M	30M
Pretax Income+	3.65B	2.27B	2.25B	1.65B	3.35B	398M	-1.6B	3.71B	2.28B	2.31B
Pretax Margin %	39.27%	22.92%	26%	22.24%	37.61%	3.82%	-16.35%	36.66%	22.15%	20.78%
Income Tax+	-3.63B	3.29B	121M	219M	858M	146M	-327M	932M	297M	311M
Effective Tax Rate %	199.01%	-44.7%	112.49%	108.11%	169.42%	3419.1%	79.26%	74.64%	86.7%	88.04%
Net Income+	7.27B	-1.02B	2.53B	1.79B	5.67B	13.61B	-1.27B	2.77B	1.98B	2.03B
Net Margin %	78.15%	-10.24%	29.25%	24.04%	63.72%	130.59%	-12.96%	27.36%	19.21%	18.3%
Net Income Growth %	321.22%	-114%	348.77%	-29.41%	217.3%	140.13%	-109.33%	318.05%	-28.62%	2.84%
Net Income (Continuing)	7.29B	-1.01B	2.13B	1.43B	2.49B	252M	-1.27B	2.77B	1.98B	2B
Discontinued Operations	-19M	-4M	402M	353M	3.18B	13.36B	5M	-8M	-6M	35M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	6.35	-0.95	2.55	2.09	7.89	20.87	-2.28	5.19	3.94	4.34
EPS Growth %	347.18%	-114.96%	368.42%	-18.04%	277.51%	164.51%	-110.92%	327.63%	-24.08%	10.15%
EPS (Basic)	6.41	-0.95	2.58	2.10	7.98	20.87	-2.28	5.22	3.98	4.44
Diluted Shares Outstanding	1.14B	1.06B	991M	856M	718M	652M	558M	533M	501M	460M
Basic Shares Outstanding	1.13B	1.06B	980M	849M	710M	652M	558M	530M	496M	451M
Dividend Payout Ratio	-	-	-	26.48%	7.89%	3.42%	-	19.08%	26.99%	26.14%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	8.88B	7.74B	7.13B	4.71B	7.19B	9.11B	9.29B	11.02B	7.57B	5.09B
Cash & Short-Term Investments	7.15B	5.86B	4.92B	2.75B	3.49B	7.32B	7.51B	9.02B	6.22B	2.92B
Cash Only	1.83B	2.14B	2.22B	922M	1.24B	1.4B	2.19B	2.01B	2.76B	1.87B
Short-Term Investments	5.31B	3.72B	2.7B	1.83B	2.25B	5.92B	5.32B	7.01B	3.46B	1.05B
Accounts Receivable	1.18B	1.36B	1.38B	1.18B	652M	779M	975M	1.21B	947M	1.28B
Days Sales Outstanding	46.4	49.93	58.32	57.98	26.76	27.29	36.33	43.53	33.61	42.09
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	544M	523M	829M	775M	2.94B	895M	688M	679M	268M	887M
Total Non-Current Assets+	14.97B	18.24B	15.69B	13.47B	12.12B	17.52B	11.56B	10.6B	11.8B	12.52B
Property, Plant & Equipment	1.52B	1.6B	1.6B	2.04B	1.72B	1.52B	1.75B	1.74B	1.69B	1.77B
Fixed Asset Turnover	6.13x	6.22x	5.42x	3.64x	5.16x	6.83x	5.59x	5.82x	6.08x	6.29x
Goodwill	4.5B	4.77B	5.16B	4.53B	4.29B	4.18B	4.26B	4.27B	4.27B	4.47B
Intangible Assets	102M	69M	92M	39M	12M	8M	115M	114M	119M	0
Long-Term Investments	3.97B	6.33B	3.78B	1.57B	1.91B	8.43B	2.02B	1.14B	2.47B	2.77B
Other Non-Current Assets	276M	273M	274M	1.3B	653M	115M	239M	256M	314M	565M
Total Assets+	23.85B	25.99B	22.82B	18.17B	19.31B	26.63B	20.85B	21.62B	19.36B	17.61B
Asset Turnover	0.39x	0.38x	0.38x	0.41x	0.46x	0.39x	0.47x	0.47x	0.53x	0.63x
Asset Growth %	34.31%	8.97%	-12.19%	-20.36%	6.25%	37.89%	-21.69%	3.69%	-10.43%	-9.06%
Total Current Liabilities+	3.85B	3.56B	4.45B	4.07B	4B	4.62B	4.27B	4.52B	6.1B	4.64B
Accounts Payable	283M	330M	286M	229M	278M	262M	261M	267M	257M	1.52B
Days Payables Outstanding	51.54	54.23	51.6	52.73	56.47	36.09	35.55	34.4	32.57	175.3
Short-Term Debt	1.45B	781M	1.55B	1.02B	6M	1.35B	1.15B	750M	1.67B	750M
Deferred Revenue (Current)	110M	137M	170M	129M	98M	79M	34M	34M	32M	0
Other Current Liabilities	1.19B	469M	410M	842M	1.83B	633M	527M	706M	616M	2.26B
Current Ratio	2.31x	2.18x	1.60x	1.16x	1.80x	1.97x	2.18x	2.44x	1.24x	1.10x
Quick Ratio	2.31x	2.18x	1.60x	1.16x	1.80x	1.97x	2.18x	2.44x	1.24x	1.10x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	9.46B	14.38B	12.08B	11.24B	11.75B	12.23B	11.43B	10.7B	8.11B	8.36B
Long-Term Debt	7.51B	9.23B	7.68B	6.74B	7.73B	7.73B	7.72B	6.97B	5.75B	6.31B
Capital Lease Obligations	0	0	0	461M	316M	200M	418M	387M	320M	315M
Deferred Tax Liabilities	1.45B	3.42B	2.92B	2.35B	2.37B	3.12B	2.25B	2.41B	1.41B	1.47B
Other Non-Current Liabilities	499M	1.72B	1.47B	1.68B	1.33B	1.18B	1.04B	936M	632M	260M
Total Liabilities	13.31B	17.94B	16.54B	15.3B	15.75B	16.85B	15.7B	15.22B	14.21B	12.99B
Total Debt+	8.96B	10.02B	9.23B	8.37B	8.21B	9.43B	9.42B	8.23B	7.86B	7.06B
Net Debt	7.13B	7.88B	7.01B	7.45B	6.98B	8.03B	7.23B	6.22B	5.1B	5.19B
Debt / Equity	0.85x	1.24x	1.47x	2.92x	2.31x	0.96x	1.83x	1.29x	1.52x	1.53x
Debt / EBITDA	2.98x	3.41x	3.87x	3.53x	2.55x	2.75x	3.37x	3.51x	2.98x	2.74x
Net Debt / EBITDA	2.37x	2.68x	2.94x	3.14x	2.17x	2.34x	2.59x	2.65x	1.93x	2.02x
Interest Coverage	10.33x	7.75x	5.12x	8.89x	8.67x	10.87x	10.00x	7.38x	8.95x	9.26x
Total Equity+	10.54B	8.06B	6.28B	2.87B	3.56B	9.78B	5.15B	6.4B	5.16B	4.62B
Equity Growth %	60.26%	-23.49%	-22.1%	-54.31%	24.08%	174.59%	-47.3%	24.12%	-19.36%	-10.53%
Book Value per Share	9.21	7.58	6.34	3.35	4.96	15.00	9.23	12.00	10.30	10.03
Total Shareholders' Equity	10.54B	8.06B	6.28B	2.87B	3.56B	9.78B	5.15B	6.4B	5.16B	4.62B
Common Stock	2M	2M	2M	2M	2M	2M	2M	2M	2M	2M
Retained Earnings	14.96B	13.94B	16.46B	17.75B	22.96B	36.09B	34.31B	36.53B	37.95B	39.43B
Treasury Stock	-19.2B	-21.89B	-26.39B	-31.4B	-36.52B	-43.37B	-46.7B	-48.11B	-51.29B	0
Accumulated OCI	-124M	717M	498M	384M	616M	398M	259M	185M	206M	207M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	2.83B	3.15B	2.66B	3.11B	2.42B	2.66B	2.25B	2.43B	2.41B	2.01B
Operating CF Margin %	30.39%	31.69%	30.73%	41.92%	27.2%	25.5%	23.01%	23.99%	23.48%	18.1%
Operating CF Growth %	-29.93%	11.32%	-15.51%	17.16%	-22.32%	9.84%	-15.17%	7.63%	-0.49%	-16.78%
Net Income	7.27B	-1.02B	2.53B	1.79B	2.49B	13.61B	-1.27B	2.77B	1.98B	2.03B
Depreciation & Amortization	682M	676M	696M	675M	583M	502M	442M	403M	324M	407M
Stock-Based Compensation	416M	483M	538M	495M	417M	477M	494M	575M	588M	607M
Deferred Taxes	-4.56B	1.73B	-153M	113M	414M	-680M	-780M	255M	-874M	44M
Other Non-Cash Items	-987M	109M	-395M	235M	-1.31B	-11.12B	3.74B	-1.49B	429M	-1.08B
Working Capital Changes	5M	1.17B	-558M	-190M	-168M	-134M	-377M	-94M	-34M	0
Change in Receivables	-48M	-195M	-98M	-124M	8M	195M	0	0	0	0
Change in Inventory	-17M	1.32B	-573M	-292M	-423M	-509M	0	0	0	0
Change in Payables	-28M	19M	-47M	4M	101M	9M	6M	15M	-8M	0
Cash from Investing+	-2.01B	-1.3B	2.89B	2.79B	3.79B	3.66B	2.46B	240M	2.21B	1.42B
Capital Expenditures	-626M	-666M	-651M	-552M	-494M	-444M	-449M	-456M	-458M	-525M
CapEx % of Revenue	6.73%	6.71%	7.53%	7.43%	5.55%	4.26%	4.58%	4.51%	4.45%	4.73%
Acquisitions	-212M	-548M	727M	-253M	4.01B	5.08B	887M	106M	4.34B	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-21M	-3M	32M	21M	33M	2.22B	-69M	-38M	-121M	19M
Cash from Financing+	-744M	-1.78B	-5.4B	-7.09B	-5.69B	-6.53B	-3.79B	-2.45B	-3.81B	-3.66B
Debt Issued (Net)	2.2B	1.03B	-750M	-1.55B	-6M	1.32B	-212M	-1.15B	-309M	0
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	0	0	0	-473M	-447M	-466M	-489M	-528M	-533M	-531M
Share Repurchases	-2.94B	-2.75B	-4.5B	-4.97B	-5.14B	-7.05B	-3.14B	-1.4B	-3.15B	-2.5B
Other Financing	124M	149M	-255M	-201M	73M	-97M	212M	546M	93M	-771M
Net Change in Cash	-16M	304M	79M	-1.22B	598M	-188M	866M	221M	793M	-232M
Free Cash Flow+	2.2B	2.48B	2.01B	2.56B	1.93B	2.21B	1.8B	1.97B	1.96B	1.48B
FCF Margin %	23.66%	24.98%	23.2%	34.49%	21.64%	21.24%	18.43%	19.48%	19.02%	13.37%
FCF Growth %	-34.62%	12.73%	-19.07%	27.65%	-24.86%	14.96%	-18.44%	9.14%	-0.71%	-24.13%
FCF per Share	1.92	2.33	2.03	2.99	2.68	3.39	3.23	3.70	3.90	3.23
FCF Conversion (FCF/Net Income)	0.39x	-3.09x	1.05x	1.74x	0.43x	0.20x	-1.78x	0.88x	1.22x	0.99x
Interest Paid	220M	285M	314M	304M	271M	253M	244M	275M	264M	0
Taxes Paid	492M	308M	556M	249M	493M	929M	540M	746M	722M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	84.91%	-10.93%	35.28%	39.03%	176.24%	204.03%	-17%	47.92%	34.19%	41.56%
Return on Invested Capital (ROIC)	11.96%	10.11%	8.99%	11.24%	18.96%	15.47%	11.68%	11.65%	15.2%	17.02%
Gross Margin	78.45%	77.63%	76.61%	78.66%	79.8%	74.57%	72.64%	71.98%	71.99%	71.45%
Net Margin	78.15%	-10.24%	29.25%	24.04%	63.72%	130.59%	-12.96%	27.36%	19.21%	18.3%
Debt / Equity	0.85x	1.24x	1.47x	2.92x	2.31x	0.96x	1.83x	1.29x	1.52x	1.53x
Interest Coverage	10.33x	7.75x	5.12x	8.89x	8.67x	10.87x	10.00x	7.38x	8.95x	9.26x
FCF Conversion	0.39x	-3.09x	1.05x	1.74x	0.43x	0.20x	-1.78x	0.88x	1.22x	0.99x
Revenue Growth	8.22%	6.76%	-12.86%	-14.12%	19.72%	17.16%	-6%	3.24%	1.69%	7.95%

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eBay Inc. (EBAY) 10-Year Financial Performance & Capital Metrics

EBAY •

Consumer CyclicalSpecialty RetailGeneral Online Marketplaces

Revenue $11.1B +7.9%
EBITDA $2.58B -2.5%
Net Income $2.03B +2.8%
EPS (Diluted) 4.34 +10.2%
Gross Margin 71.45% -0.8%
EBITDA Margin 23.2% -9.7%
Operating Margin 20.51% -9.0%
Net Margin 18.3% -4.7%
ROE 41.56% +21.6%
ROIC 17.02% +12.0%
Debt/Equity 1.53 +0.4%
Interest Coverage 9.26 +3.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 41.2%
✓Share count reduced 8.2% through buybacks
✓Healthy 5Y average net margin of 36.5%

✗Weaknesses

✗Profits declining 18.6% over 5 years

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y2.59%

5Y4.53%

3Y4.26%

TTM7.95%

Profit (Net Income) CAGR

10Y1.65%

5Y-18.55%

3Y-

TTM2.84%

EPS CAGR

10Y11.82%

5Y-11.27%

3Y-

TTM9.6%

ROCE

10Y Avg13.32%

5Y Avg14.4%

3Y Avg14.72%

Latest17.36%

Peer Comparison

General Online Marketplaces

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CPNGCoupang, Inc.	3.01B	19.08	173.45	-72.84%	2.53%	0.93%	17.32%	0.18
SESea Limited	4.94B	108.45	148.56	28.75%	6.23%	12.35%	59.87%	0.49
HOURHour Loop, Inc.	67.18M	1.91	102.14	4.64%	0.59%	10.89%	0.41%	0.14
MELIMercadoLibre, Inc.	89.1B	1757.58	44.62	39.06%	6.91%	29.59%	12.09%	1.69
AMZNAmazon.com, Inc.	2.25T	210.00	29.29	12.38%	10.83%	18.89%	0.34%	0.37
EBAYeBay Inc.	40.8B	90.86	20.94	7.95%	18.3%	44.01%	3.64%	1.53
BABAAlibaba Group Holding Limited	2.66T	144.11	18.44	5.86%	12.19%	11.1%	0.43%	0.23
PDDPDD Holdings Inc.	577.63B	103.73	9.36	59.04%	24.43%	26.13%	3.05%	0.03

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	9.3B	9.93B	8.65B	7.43B	8.89B	10.42B	9.79B	10.11B	10.28B	11.1B
Revenue Growth %	8.22%	6.76%	-12.86%	-14.12%	19.72%	17.16%	-6%	3.24%	1.69%	7.95%
Cost of Goods Sold+	2B	2.22B	2.02B	1.58B	1.8B	2.65B	2.68B	2.83B	2.88B	3.17B
COGS % of Revenue	21.55%	22.37%	23.39%	21.34%	20.2%	25.43%	27.36%	28.02%	28.01%	28.55%
Gross Profit+	7.29B	7.71B	6.63B	5.84B	7.1B	7.77B	7.12B	7.28B	7.4B	7.93B
Gross Margin %	78.45%	77.63%	76.61%	78.66%	79.8%	74.57%	72.64%	71.98%	71.99%	71.45%
Gross Profit Growth %	6.93%	5.65%	-14%	-11.82%	21.44%	9.48%	-8.43%	2.31%	1.7%	7.13%
Operating Expenses+	4.97B	5.44B	4.88B	4.07B	4.46B	4.85B	4.76B	5.34B	5.08B	5.65B
OpEx % of Revenue	53.44%	54.82%	56.36%	54.84%	50.16%	46.52%	48.65%	52.79%	49.45%	50.94%
Selling, General & Admin	3.59B	3.91B	3.56B	2.85B	3.08B	3.09B	3.1B	3.41B	3.23B	3.59B
SG&A % of Revenue	38.61%	39.37%	41.1%	38.42%	34.59%	29.66%	31.64%	33.75%	31.44%	32.36%
Research & Development	1.11B	1.22B	1.05B	930M	1.03B	1.32B	1.33B	1.54B	1.48B	1.64B
R&D % of Revenue	11.98%	12.33%	12.15%	12.52%	11.56%	12.72%	13.58%	15.27%	14.38%	14.79%
Other Operating Expenses	265M	310M	269M	290M	357M	431M	336M	381M	373M	420M
Operating Income+	2.33B	2.26B	1.75B	1.77B	2.64B	2.92B	2.35B	1.94B	2.32B	2.28B
Operating Margin %	25.01%	22.81%	20.25%	23.83%	29.64%	28.05%	23.99%	19.2%	22.54%	20.51%
Operating Income Growth %	5.83%	-2.62%	-22.61%	1.03%	48.93%	10.89%	-19.6%	-17.4%	19.42%	-1.77%
EBITDA+	3.01B	2.94B	2.39B	2.37B	3.22B	3.42B	2.79B	2.34B	2.64B	2.58B
EBITDA Margin %	32.34%	29.62%	27.6%	31.9%	36.19%	32.87%	28.5%	23.18%	25.69%	23.2%
EBITDA Growth %	4.26%	-2.23%	-18.81%	-0.71%	35.82%	6.4%	-18.48%	-16.05%	12.71%	-2.54%
D&A (Non-Cash Add-back)	682M	676M	635M	600M	583M	502M	442M	403M	324M	298M
EBIT	3.88B	2.57B	2.59B	1.96B	3.65B	667M	-1.37B	3.97B	2.54B	2.49B
Net Interest Income+	-100M	-115M	-166M	-199M	-266M	-250M	-162M	-59M	13M	-48M
Interest Income	125M	177M	176M	0	38M	19M	73M	204M	272M	198M
Interest Expense	225M	292M	342M	199M	304M	269M	235M	263M	259M	246M
Other Income/Expense	1.33B	11M	497M	-118M	709M	-2.52B	-3.95B	1.77B	-40M	30M
Pretax Income+	3.65B	2.27B	2.25B	1.65B	3.35B	398M	-1.6B	3.71B	2.28B	2.31B
Pretax Margin %	39.27%	22.92%	26%	22.24%	37.61%	3.82%	-16.35%	36.66%	22.15%	20.78%
Income Tax+	-3.63B	3.29B	121M	219M	858M	146M	-327M	932M	297M	311M
Effective Tax Rate %	199.01%	-44.7%	112.49%	108.11%	169.42%	3419.1%	79.26%	74.64%	86.7%	88.04%
Net Income+	7.27B	-1.02B	2.53B	1.79B	5.67B	13.61B	-1.27B	2.77B	1.98B	2.03B
Net Margin %	78.15%	-10.24%	29.25%	24.04%	63.72%	130.59%	-12.96%	27.36%	19.21%	18.3%
Net Income Growth %	321.22%	-114%	348.77%	-29.41%	217.3%	140.13%	-109.33%	318.05%	-28.62%	2.84%
Net Income (Continuing)	7.29B	-1.01B	2.13B	1.43B	2.49B	252M	-1.27B	2.77B	1.98B	2B
Discontinued Operations	-19M	-4M	402M	353M	3.18B	13.36B	5M	-8M	-6M	35M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	6.35	-0.95	2.55	2.09	7.89	20.87	-2.28	5.19	3.94	4.34
EPS Growth %	347.18%	-114.96%	368.42%	-18.04%	277.51%	164.51%	-110.92%	327.63%	-24.08%	10.15%
EPS (Basic)	6.41	-0.95	2.58	2.10	7.98	20.87	-2.28	5.22	3.98	4.44
Diluted Shares Outstanding	1.14B	1.06B	991M	856M	718M	652M	558M	533M	501M	460M
Basic Shares Outstanding	1.13B	1.06B	980M	849M	710M	652M	558M	530M	496M	451M
Dividend Payout Ratio	-	-	-	26.48%	7.89%	3.42%	-	19.08%	26.99%	26.14%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	8.88B	7.74B	7.13B	4.71B	7.19B	9.11B	9.29B	11.02B	7.57B	5.09B
Cash & Short-Term Investments	7.15B	5.86B	4.92B	2.75B	3.49B	7.32B	7.51B	9.02B	6.22B	2.92B
Cash Only	1.83B	2.14B	2.22B	922M	1.24B	1.4B	2.19B	2.01B	2.76B	1.87B
Short-Term Investments	5.31B	3.72B	2.7B	1.83B	2.25B	5.92B	5.32B	7.01B	3.46B	1.05B
Accounts Receivable	1.18B	1.36B	1.38B	1.18B	652M	779M	975M	1.21B	947M	1.28B
Days Sales Outstanding	46.4	49.93	58.32	57.98	26.76	27.29	36.33	43.53	33.61	42.09
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	544M	523M	829M	775M	2.94B	895M	688M	679M	268M	887M
Total Non-Current Assets+	14.97B	18.24B	15.69B	13.47B	12.12B	17.52B	11.56B	10.6B	11.8B	12.52B
Property, Plant & Equipment	1.52B	1.6B	1.6B	2.04B	1.72B	1.52B	1.75B	1.74B	1.69B	1.77B
Fixed Asset Turnover	6.13x	6.22x	5.42x	3.64x	5.16x	6.83x	5.59x	5.82x	6.08x	6.29x
Goodwill	4.5B	4.77B	5.16B	4.53B	4.29B	4.18B	4.26B	4.27B	4.27B	4.47B
Intangible Assets	102M	69M	92M	39M	12M	8M	115M	114M	119M	0
Long-Term Investments	3.97B	6.33B	3.78B	1.57B	1.91B	8.43B	2.02B	1.14B	2.47B	2.77B
Other Non-Current Assets	276M	273M	274M	1.3B	653M	115M	239M	256M	314M	565M
Total Assets+	23.85B	25.99B	22.82B	18.17B	19.31B	26.63B	20.85B	21.62B	19.36B	17.61B
Asset Turnover	0.39x	0.38x	0.38x	0.41x	0.46x	0.39x	0.47x	0.47x	0.53x	0.63x
Asset Growth %	34.31%	8.97%	-12.19%	-20.36%	6.25%	37.89%	-21.69%	3.69%	-10.43%	-9.06%
Total Current Liabilities+	3.85B	3.56B	4.45B	4.07B	4B	4.62B	4.27B	4.52B	6.1B	4.64B
Accounts Payable	283M	330M	286M	229M	278M	262M	261M	267M	257M	1.52B
Days Payables Outstanding	51.54	54.23	51.6	52.73	56.47	36.09	35.55	34.4	32.57	175.3
Short-Term Debt	1.45B	781M	1.55B	1.02B	6M	1.35B	1.15B	750M	1.67B	750M
Deferred Revenue (Current)	110M	137M	170M	129M	98M	79M	34M	34M	32M	0
Other Current Liabilities	1.19B	469M	410M	842M	1.83B	633M	527M	706M	616M	2.26B
Current Ratio	2.31x	2.18x	1.60x	1.16x	1.80x	1.97x	2.18x	2.44x	1.24x	1.10x
Quick Ratio	2.31x	2.18x	1.60x	1.16x	1.80x	1.97x	2.18x	2.44x	1.24x	1.10x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	9.46B	14.38B	12.08B	11.24B	11.75B	12.23B	11.43B	10.7B	8.11B	8.36B
Long-Term Debt	7.51B	9.23B	7.68B	6.74B	7.73B	7.73B	7.72B	6.97B	5.75B	6.31B
Capital Lease Obligations	0	0	0	461M	316M	200M	418M	387M	320M	315M
Deferred Tax Liabilities	1.45B	3.42B	2.92B	2.35B	2.37B	3.12B	2.25B	2.41B	1.41B	1.47B
Other Non-Current Liabilities	499M	1.72B	1.47B	1.68B	1.33B	1.18B	1.04B	936M	632M	260M
Total Liabilities	13.31B	17.94B	16.54B	15.3B	15.75B	16.85B	15.7B	15.22B	14.21B	12.99B
Total Debt+	8.96B	10.02B	9.23B	8.37B	8.21B	9.43B	9.42B	8.23B	7.86B	7.06B
Net Debt	7.13B	7.88B	7.01B	7.45B	6.98B	8.03B	7.23B	6.22B	5.1B	5.19B
Debt / Equity	0.85x	1.24x	1.47x	2.92x	2.31x	0.96x	1.83x	1.29x	1.52x	1.53x
Debt / EBITDA	2.98x	3.41x	3.87x	3.53x	2.55x	2.75x	3.37x	3.51x	2.98x	2.74x
Net Debt / EBITDA	2.37x	2.68x	2.94x	3.14x	2.17x	2.34x	2.59x	2.65x	1.93x	2.02x
Interest Coverage	10.33x	7.75x	5.12x	8.89x	8.67x	10.87x	10.00x	7.38x	8.95x	9.26x
Total Equity+	10.54B	8.06B	6.28B	2.87B	3.56B	9.78B	5.15B	6.4B	5.16B	4.62B
Equity Growth %	60.26%	-23.49%	-22.1%	-54.31%	24.08%	174.59%	-47.3%	24.12%	-19.36%	-10.53%
Book Value per Share	9.21	7.58	6.34	3.35	4.96	15.00	9.23	12.00	10.30	10.03
Total Shareholders' Equity	10.54B	8.06B	6.28B	2.87B	3.56B	9.78B	5.15B	6.4B	5.16B	4.62B
Common Stock	2M	2M	2M	2M	2M	2M	2M	2M	2M	2M
Retained Earnings	14.96B	13.94B	16.46B	17.75B	22.96B	36.09B	34.31B	36.53B	37.95B	39.43B
Treasury Stock	-19.2B	-21.89B	-26.39B	-31.4B	-36.52B	-43.37B	-46.7B	-48.11B	-51.29B	0
Accumulated OCI	-124M	717M	498M	384M	616M	398M	259M	185M	206M	207M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	2.83B	3.15B	2.66B	3.11B	2.42B	2.66B	2.25B	2.43B	2.41B	2.01B
Operating CF Margin %	30.39%	31.69%	30.73%	41.92%	27.2%	25.5%	23.01%	23.99%	23.48%	18.1%
Operating CF Growth %	-29.93%	11.32%	-15.51%	17.16%	-22.32%	9.84%	-15.17%	7.63%	-0.49%	-16.78%
Net Income	7.27B	-1.02B	2.53B	1.79B	2.49B	13.61B	-1.27B	2.77B	1.98B	2.03B
Depreciation & Amortization	682M	676M	696M	675M	583M	502M	442M	403M	324M	407M
Stock-Based Compensation	416M	483M	538M	495M	417M	477M	494M	575M	588M	607M
Deferred Taxes	-4.56B	1.73B	-153M	113M	414M	-680M	-780M	255M	-874M	44M
Other Non-Cash Items	-987M	109M	-395M	235M	-1.31B	-11.12B	3.74B	-1.49B	429M	-1.08B
Working Capital Changes	5M	1.17B	-558M	-190M	-168M	-134M	-377M	-94M	-34M	0
Change in Receivables	-48M	-195M	-98M	-124M	8M	195M	0	0	0	0
Change in Inventory	-17M	1.32B	-573M	-292M	-423M	-509M	0	0	0	0
Change in Payables	-28M	19M	-47M	4M	101M	9M	6M	15M	-8M	0
Cash from Investing+	-2.01B	-1.3B	2.89B	2.79B	3.79B	3.66B	2.46B	240M	2.21B	1.42B
Capital Expenditures	-626M	-666M	-651M	-552M	-494M	-444M	-449M	-456M	-458M	-525M
CapEx % of Revenue	6.73%	6.71%	7.53%	7.43%	5.55%	4.26%	4.58%	4.51%	4.45%	4.73%
Acquisitions	-212M	-548M	727M	-253M	4.01B	5.08B	887M	106M	4.34B	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-21M	-3M	32M	21M	33M	2.22B	-69M	-38M	-121M	19M
Cash from Financing+	-744M	-1.78B	-5.4B	-7.09B	-5.69B	-6.53B	-3.79B	-2.45B	-3.81B	-3.66B
Debt Issued (Net)	2.2B	1.03B	-750M	-1.55B	-6M	1.32B	-212M	-1.15B	-309M	0
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	0	0	0	-473M	-447M	-466M	-489M	-528M	-533M	-531M
Share Repurchases	-2.94B	-2.75B	-4.5B	-4.97B	-5.14B	-7.05B	-3.14B	-1.4B	-3.15B	-2.5B
Other Financing	124M	149M	-255M	-201M	73M	-97M	212M	546M	93M	-771M
Net Change in Cash	-16M	304M	79M	-1.22B	598M	-188M	866M	221M	793M	-232M
Free Cash Flow+	2.2B	2.48B	2.01B	2.56B	1.93B	2.21B	1.8B	1.97B	1.96B	1.48B
FCF Margin %	23.66%	24.98%	23.2%	34.49%	21.64%	21.24%	18.43%	19.48%	19.02%	13.37%
FCF Growth %	-34.62%	12.73%	-19.07%	27.65%	-24.86%	14.96%	-18.44%	9.14%	-0.71%	-24.13%
FCF per Share	1.92	2.33	2.03	2.99	2.68	3.39	3.23	3.70	3.90	3.23
FCF Conversion (FCF/Net Income)	0.39x	-3.09x	1.05x	1.74x	0.43x	0.20x	-1.78x	0.88x	1.22x	0.99x
Interest Paid	220M	285M	314M	304M	271M	253M	244M	275M	264M	0
Taxes Paid	492M	308M	556M	249M	493M	929M	540M	746M	722M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	84.91%	-10.93%	35.28%	39.03%	176.24%	204.03%	-17%	47.92%	34.19%	41.56%
Return on Invested Capital (ROIC)	11.96%	10.11%	8.99%	11.24%	18.96%	15.47%	11.68%	11.65%	15.2%	17.02%
Gross Margin	78.45%	77.63%	76.61%	78.66%	79.8%	74.57%	72.64%	71.98%	71.99%	71.45%
Net Margin	78.15%	-10.24%	29.25%	24.04%	63.72%	130.59%	-12.96%	27.36%	19.21%	18.3%
Debt / Equity	0.85x	1.24x	1.47x	2.92x	2.31x	0.96x	1.83x	1.29x	1.52x	1.53x
Interest Coverage	10.33x	7.75x	5.12x	8.89x	8.67x	10.87x	10.00x	7.38x	8.95x	9.26x
FCF Conversion	0.39x	-3.09x	1.05x	1.74x	0.43x	0.20x	-1.78x	0.88x	1.22x	0.99x
Revenue Growth	8.22%	6.76%	-12.86%	-14.12%	19.72%	17.16%	-6%	3.24%	1.69%	7.95%

eBay Inc. (EBAY) 10-Year Financial Performance & Capital Metrics

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eBay Inc. (EBAY) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare EBAY vs Peers

vs BABA

vs AMZN

Compare Top 5

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Deep Dive Analysis

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