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

EBAY • • Industrial / General

Consumer CyclicalSpecialty RetailE-commerce MarketplacesGeneral E-commerce Platforms

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 $10.28B +1.7%
EBITDA $2.64B +12.7%
Net Income $1.98B -28.6%
EPS (Diluted) 3.94 -24.1%
Gross Margin 71.99%
EBITDA Margin 25.69% +10.8%
Operating Margin 22.54% +17.4%
Net Margin 19.21% -29.8%
ROE 34.19% -28.7%
ROIC 15.2% +30.5%
Debt/Equity 1.52 +18.5%
Interest Coverage 8.95 +21.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 21.7%
✓FCF machine: 19.0% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 6.0% through buybacks
✓Healthy 5Y average net margin of 45.6%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.58%

5Y6.72%

3Y-0.44%

TTM4.36%

Profit (Net Income) CAGR

10Y45.64%

5Y2.03%

3Y-47.45%

TTM8.02%

EPS CAGR

10Y59.57%

5Y13.52%

3Y-42.63%

TTM16.2%

ROCE

10Y Avg12.6%

5Y Avg14.51%

3Y Avg12.99%

Latest15.27%

Peer Comparison

General E-commerce Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SESea Limited	70.97B	129.86	177.89	28.75%	6.23%	12.35%	4.17%	0.49
AMZNAmazon.com, Inc.	2.59T	242.60	43.87	10.99%	11.06%	20.69%	1.27%	0.46
LQDTLiquidity Services, Inc.	971.59M	31.71	36.45	31.2%	5.89%	13.82%	6.07%	0.07
ETSYEtsy, Inc.	6.08B	61.57	26.20	2.18%	6.38%		12.15%
CARTInstacart (Maplebear Inc.)	10.84B	41.28	26.13	11.05%	14.15%	14.86%	5.75%	0.01
EBAYeBay Inc.	42.66B	94.37	23.95	1.69%	20.37%	46.24%	4.59%	1.52
PDDPDD Holdings Inc.	159.45B	112.32	1.48	59.04%	24.43%	26.13%	75.86%	0.03
VIPSVipshop Holdings Limited	7.71B	18.58	1.29	-3.93%	6.53%	16.84%	72.16%	0.08

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	8.59B	9.3B	9.93B	8.65B	7.43B	8.89B	10.42B	9.79B	10.11B	10.28B
Revenue Growth %	-0.02%	0.08%	0.07%	-0.13%	-0.14%	0.2%	0.17%	-0.06%	0.03%	0.02%
Cost of Goods Sold+	1.77B	2B	2.22B	2.02B	1.58B	1.8B	2.65B	2.68B	2.83B	2.88B
COGS % of Revenue	0.21%	0.22%	0.22%	0.23%	0.21%	0.2%	0.25%	0.27%	0.28%	0.28%
Gross Profit+	6.82B	7.29B	7.71B	6.63B	5.84B	7.1B	7.77B	7.12B	7.28B	7.4B
Gross Margin %	0.79%	0.78%	0.78%	0.77%	0.79%	0.8%	0.75%	0.73%	0.72%	0.72%
Gross Profit Growth %	-0.04%	0.07%	0.06%	-0.14%	-0.12%	0.21%	0.09%	-0.08%	0.02%	0.02%
Operating Expenses+	4.62B	4.97B	5.44B	4.88B	4.07B	4.46B	4.85B	4.76B	5.34B	5.08B
OpEx % of Revenue	0.54%	0.53%	0.55%	0.56%	0.55%	0.5%	0.47%	0.49%	0.53%	0.49%
Selling, General & Admin	3.39B	3.59B	3.91B	3.56B	2.85B	3.08B	3.09B	3.1B	3.41B	3.23B
SG&A % of Revenue	0.39%	0.39%	0.39%	0.41%	0.38%	0.35%	0.3%	0.32%	0.34%	0.31%
Research & Development	923M	1.11B	1.22B	1.05B	930M	1.03B	1.32B	1.33B	1.54B	1.48B
R&D % of Revenue	0.11%	0.12%	0.12%	0.12%	0.13%	0.12%	0.13%	0.14%	0.15%	0.14%
Other Operating Expenses	312M	265M	310M	269M	290M	357M	431M	336M	381M	373M
Operating Income+	2.2B	2.33B	2.26B	1.75B	1.77B	2.64B	2.92B	2.35B	1.94B	2.32B
Operating Margin %	0.26%	0.25%	0.23%	0.2%	0.24%	0.3%	0.28%	0.24%	0.19%	0.23%
Operating Income Growth %	-0.11%	0.06%	-0.03%	-0.23%	0.01%	0.49%	0.11%	-0.2%	-0.17%	0.19%
EBITDA+	2.88B	3.01B	2.94B	2.39B	2.37B	3.22B	3.42B	2.79B	2.34B	2.64B
EBITDA Margin %	0.34%	0.32%	0.3%	0.28%	0.32%	0.36%	0.33%	0.29%	0.23%	0.26%
EBITDA Growth %	-0.09%	0.04%	-0.02%	-0.19%	-0.01%	0.36%	0.06%	-0.18%	-0.16%	0.13%
D&A (Non-Cash Add-back)	687M	682M	676M	635M	600M	583M	502M	442M	403M	324M
EBIT	2.55B	3.88B	2.57B	2.59B	1.96B	3.65B	667M	-1.37B	3.97B	2.54B
Net Interest Income+	-47M	-100M	-115M	-166M	-199M	-266M	-250M	-162M	-59M	13M
Interest Income	97M	125M	177M	176M	0	38M	19M	73M	204M	272M
Interest Expense	144M	225M	292M	342M	199M	304M	269M	235M	263M	259M
Other Income/Expense	209M	1.33B	11M	497M	-118M	709M	-2.52B	-3.95B	1.77B	-40M
Pretax Income+	2.41B	3.65B	2.27B	2.25B	1.65B	3.35B	398M	-1.6B	3.71B	2.28B
Pretax Margin %	0.28%	0.39%	0.23%	0.26%	0.22%	0.38%	0.04%	-0.16%	0.37%	0.22%
Income Tax+	459M	-3.63B	3.29B	121M	219M	858M	146M	-327M	932M	297M
Effective Tax Rate %	0.72%	1.99%	-0.45%	1.12%	1.08%	1.69%	34.19%	0.79%	0.75%	0.87%
Net Income+	1.73B	7.27B	-1.02B	2.53B	1.79B	5.67B	13.61B	-1.27B	2.77B	1.98B
Net Margin %	0.2%	0.78%	-0.1%	0.29%	0.24%	0.64%	1.31%	-0.13%	0.27%	0.19%
Net Income Growth %	36.5%	3.21%	-1.14%	3.49%	-0.29%	2.17%	1.4%	-1.09%	3.18%	-0.29%
Net Income (Continuing)	1.95B	7.29B	-1.01B	2.13B	1.43B	2.49B	252M	-1.27B	2.77B	1.98B
Discontinued Operations	-222M	-19M	-4M	402M	353M	3.18B	13.36B	5M	-8M	-6M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.42	6.35	-0.95	2.55	2.09	7.89	20.87	-2.28	5.19	3.94
EPS Growth %	37.59%	3.47%	-1.15%	3.68%	-0.18%	2.78%	1.65%	-1.11%	3.28%	-0.24%
EPS (Basic)	1.43	6.41	-0.95	2.58	2.10	7.98	20.87	-2.28	5.22	3.98
Diluted Shares Outstanding	1.22B	1.14B	1.06B	991M	856M	718M	652M	558M	533M	501M
Basic Shares Outstanding	1.21B	1.13B	1.06B	980M	849M	710M	652M	558M	530M	496M
Dividend Payout Ratio	-	-	-	-	0.26%	0.08%	0.03%	-	0.19%	0.27%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	7.9B	8.88B	7.74B	7.13B	4.71B	7.19B	9.11B	9.29B	11.02B	7.57B
Cash & Short-Term Investments	6.13B	7.15B	5.86B	4.92B	2.75B	3.49B	7.32B	7.51B	9.02B	6.22B
Cash Only	1.86B	1.83B	2.14B	2.22B	922M	1.24B	1.4B	2.19B	2.01B	2.76B
Short-Term Investments	4.27B	5.31B	3.72B	2.7B	1.83B	2.25B	5.92B	5.32B	7.01B	3.46B
Accounts Receivable	1.14B	1.18B	1.36B	1.38B	1.18B	652M	779M	975M	1.21B	947M
Days Sales Outstanding	48.51	46.4	49.93	58.32	57.98	26.76	27.29	36.33	43.53	33.61
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	631M	544M	523M	829M	775M	2.94B	895M	688M	679M	268M
Total Non-Current Assets+	9.85B	14.97B	18.24B	15.69B	13.47B	12.12B	17.52B	11.56B	10.6B	11.8B
Property, Plant & Equipment	1.55B	1.52B	1.6B	1.6B	2.04B	1.72B	1.52B	1.75B	1.74B	1.69B
Fixed Asset Turnover	5.53x	6.13x	6.22x	5.42x	3.64x	5.16x	6.83x	5.59x	5.82x	6.08x
Goodwill	4.45B	4.5B	4.77B	5.16B	4.53B	4.29B	4.18B	4.26B	4.27B	4.27B
Intangible Assets	90M	102M	69M	92M	39M	12M	8M	115M	114M	119M
Long-Term Investments	3.39B	3.97B	6.33B	3.78B	1.57B	1.91B	8.43B	2.02B	1.14B	2.47B
Other Non-Current Assets	395M	276M	273M	274M	1.3B	653M	115M	239M	256M	314M
Total Assets+	17.75B	23.85B	25.99B	22.82B	18.17B	19.31B	26.63B	20.85B	21.62B	19.36B
Asset Turnover	0.48x	0.39x	0.38x	0.38x	0.41x	0.46x	0.39x	0.47x	0.47x	0.53x
Asset Growth %	-0.61%	0.34%	0.09%	-0.12%	-0.2%	0.06%	0.38%	-0.22%	0.04%	-0.1%
Total Current Liabilities+	2.26B	3.85B	3.56B	4.45B	4.07B	4B	4.62B	4.27B	4.52B	6.1B
Accounts Payable	349M	283M	330M	286M	229M	278M	262M	261M	267M	257M
Days Payables Outstanding	71.93	51.54	54.23	51.6	52.73	56.47	36.09	35.55	34.4	32.57
Short-Term Debt	0	1.45B	781M	1.55B	1.02B	6M	1.35B	1.15B	750M	1.67B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	1.19B	469M	410M	842M	1.83B	633M	527M	706M	616M
Current Ratio	3.49x	2.31x	2.18x	1.60x	1.16x	1.80x	1.97x	2.18x	2.44x	1.24x
Quick Ratio	3.49x	2.31x	2.18x	1.60x	1.16x	1.80x	1.97x	2.18x	2.44x	1.24x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	8.92B	9.46B	14.38B	12.08B	11.24B	11.75B	12.23B	11.43B	10.7B	8.11B
Long-Term Debt	6.75B	7.51B	9.23B	7.68B	6.74B	7.73B	7.73B	7.72B	6.97B	5.75B
Capital Lease Obligations	0	0	0	0	461M	316M	200M	418M	387M	320M
Deferred Tax Liabilities	2.09B	1.45B	3.42B	2.92B	2.35B	2.37B	3.12B	2.25B	2.41B	1.41B
Other Non-Current Liabilities	75M	499M	1.72B	1.47B	1.68B	1.33B	1.18B	1.04B	936M	632M
Total Liabilities	11.18B	13.31B	17.94B	16.54B	15.3B	15.75B	16.85B	15.7B	15.22B	14.21B
Total Debt+	6.78B	8.96B	10.02B	9.23B	8.37B	8.21B	9.43B	9.42B	8.23B	7.86B
Net Debt	4.92B	7.13B	7.88B	7.01B	7.45B	6.98B	8.03B	7.23B	6.22B	5.1B
Debt / Equity	1.03x	0.85x	1.24x	1.47x	2.92x	2.31x	0.96x	1.83x	1.29x	1.52x
Debt / EBITDA	2.35x	2.98x	3.41x	3.87x	3.53x	2.55x	2.75x	3.37x	3.51x	2.98x
Net Debt / EBITDA	1.71x	2.37x	2.68x	2.94x	3.14x	2.17x	2.34x	2.59x	2.65x	1.93x
Interest Coverage	15.26x	10.33x	7.75x	5.12x	8.89x	8.67x	10.87x	10.00x	7.38x	8.95x
Total Equity+	6.58B	10.54B	8.06B	6.28B	2.87B	3.56B	9.78B	5.15B	6.4B	5.16B
Equity Growth %	-0.67%	0.6%	-0.23%	-0.22%	-0.54%	0.24%	1.75%	-0.47%	0.24%	-0.19%
Book Value per Share	5.39	9.21	7.58	6.34	3.35	4.96	15.00	9.23	12.00	10.30
Total Shareholders' Equity	6.58B	10.54B	8.06B	6.28B	2.87B	3.56B	9.78B	5.15B	6.4B	5.16B
Common Stock	2M	2M	2M	2M	2M	2M	2M	2M	2M	2M
Retained Earnings	7.71B	14.96B	13.94B	16.46B	17.75B	22.96B	36.09B	34.31B	36.53B	37.95B
Treasury Stock	-16.2B	-19.2B	-21.89B	-26.39B	-31.4B	-36.52B	-43.37B	-46.7B	-48.11B	-51.29B
Accumulated OCI	526M	-124M	717M	498M	384M	616M	398M	259M	185M	206M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	4.03B	2.83B	3.15B	2.66B	3.11B	2.42B	2.66B	2.25B	2.43B	2.41B
Operating CF Margin %	0.47%	0.3%	0.32%	0.31%	0.42%	0.27%	0.25%	0.23%	0.24%	0.23%
Operating CF Growth %	-0.29%	-0.3%	0.11%	-0.16%	0.17%	-0.22%	0.1%	-0.15%	0.08%	-0%
Net Income	1.73B	7.27B	-1.02B	2.53B	1.79B	2.49B	13.61B	-1.27B	2.77B	1.98B
Depreciation & Amortization	687M	682M	676M	696M	675M	583M	502M	442M	403M	324M
Stock-Based Compensation	379M	416M	483M	538M	495M	417M	477M	494M	575M	588M
Deferred Taxes	-32M	-4.56B	1.73B	-153M	113M	414M	-680M	-780M	255M	-874M
Other Non-Cash Items	1.45B	-987M	109M	-395M	235M	-1.31B	-11.12B	3.74B	-1.49B	429M
Working Capital Changes	-180M	5M	1.17B	-558M	-190M	-168M	-134M	-377M	-94M	-34M
Change in Receivables	-105M	-48M	-195M	-98M	-124M	8M	195M	0	0	0
Change in Inventory	-453M	-17M	1.32B	-573M	-292M	-423M	-509M	0	0	0
Change in Payables	226M	-28M	19M	-47M	4M	101M	9M	6M	15M	-8M
Cash from Investing+	-3.61B	-2.01B	-1.3B	2.89B	2.79B	3.79B	3.66B	2.46B	240M	2.21B
Capital Expenditures	-668M	-626M	-666M	-651M	-552M	-494M	-444M	-449M	-456M	-458M
CapEx % of Revenue	0.08%	0.07%	0.07%	0.08%	0.07%	0.06%	0.04%	0.05%	0.05%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-2.96B	-21M	-3M	32M	21M	33M	2.22B	-69M	-38M	-121M
Cash from Financing+	-4.55B	-744M	-1.78B	-5.4B	-7.09B	-5.69B	-6.53B	-3.79B	-2.45B	-3.81B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-473M	-447M	-466M	-489M	-528M	-533M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.31B	124M	149M	-255M	-201M	73M	-97M	212M	546M	93M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	3.37B	2.2B	2.48B	2.01B	2.56B	1.93B	2.21B	1.8B	1.97B	1.96B
FCF Margin %	0.39%	0.24%	0.25%	0.23%	0.34%	0.22%	0.21%	0.18%	0.19%	0.19%
FCF Growth %	-0.24%	-0.35%	0.13%	-0.19%	0.28%	-0.25%	0.15%	-0.18%	0.09%	-0.01%
FCF per Share	2.76	1.92	2.33	2.03	2.99	2.68	3.39	3.23	3.70	3.90
FCF Conversion (FCF/Net Income)	2.34x	0.39x	-3.09x	1.05x	1.74x	0.43x	0.20x	-1.78x	0.88x	1.22x
Interest Paid	175M	220M	285M	314M	304M	271M	253M	244M	275M	264M
Taxes Paid	256M	492M	308M	556M	249M	493M	929M	540M	746M	722M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13.03%	84.91%	-10.93%	35.28%	39.03%	176.24%	204.03%	-17%	47.92%	34.19%
Return on Invested Capital (ROIC)	9.44%	11.96%	10.11%	8.99%	11.24%	18.96%	15.47%	11.68%	11.65%	15.2%
Gross Margin	79.39%	78.45%	77.63%	76.61%	78.66%	79.8%	74.57%	72.64%	71.98%	71.99%
Net Margin	20.08%	78.15%	-10.24%	29.25%	24.04%	63.72%	130.59%	-12.96%	27.36%	19.21%
Debt / Equity	1.03x	0.85x	1.24x	1.47x	2.92x	2.31x	0.96x	1.83x	1.29x	1.52x
Interest Coverage	15.26x	10.33x	7.75x	5.12x	8.89x	8.67x	10.87x	10.00x	7.38x	8.95x
FCF Conversion	2.34x	0.39x	-3.09x	1.05x	1.74x	0.43x	0.20x	-1.78x	0.88x	1.22x
Revenue Growth	-2.25%	8.22%	6.76%	-12.86%	-14.12%	19.72%	17.16%	-6%	3.24%	1.69%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Marketplaces	-	6.11B	6.45B	7.42B	8.64B	-	-	9.79B	10.11B	8.65B
Marketplaces Growth	-	-	5.62%	14.98%	16.48%	-	-	-	3.24%	-14.48%
Advertising Revenues	-	-	-	-	-	-	-	-	-	1.64B
Advertising Revenues Growth	-	-	-	-	-	-	-	-	-	-
Payments	-	-	-	-	-	9.3B	9.77B	-	-	-
Payments Growth	-	-	-	-	-	-	5.08%	-	-	-
Marketing Services And Other Revenues	-	-	-	-	-	971M	648M	-	-	-
Marketing Services And Other Revenues Growth	-	-	-	-	-	-	-33.26%	-	-	-
StubHub	725M	944M	1.03B	1.08B	1.12B	-	-	-	-	-
StubHub Growth	-	30.21%	8.90%	5.35%	3.51%	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	3.62B	3.87B	4.09B	4.37B	4.34B	4.15B	5.05B	4.84B	-	5.24B
UNITED STATES Growth	-	6.68%	5.82%	6.89%	-0.82%	-4.29%	21.61%	-4.08%	-	-
UNITED KINGDOM	1.4B	1.31B	1.36B	1.48B	1.44B	1.68B	1.91B	1.58B	-	1.51B
UNITED KINGDOM Growth	-	-6.27%	3.35%	8.98%	-2.70%	16.45%	14.00%	-17.46%	-	-
World	2.25B	2.46B	2.67B	2.11B	2.29B	1.95B	2.21B	2.35B	-	1.4B
World Growth	-	9.00%	8.50%	-21.03%	8.97%	-15.21%	13.57%	6.38%	-	-
CHINA	-	-	-	-	-	-	-	-	-	1.17B
CHINA Growth	-	-	-	-	-	-	-	-	-	-
GERMANY	1.31B	1.34B	1.45B	1.59B	1.51B	1.11B	1.25B	1.02B	-	972M
GERMANY Growth	-	2.29%	8.21%	9.72%	-5.34%	-26.56%	12.93%	-18.09%	-	-
KOREA, REPUBLIC OF	-	-	-	1.2B	1.22B	-	-	-	-	-
KOREA, REPUBLIC OF Growth	-	-	-	-	2.18%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

eBay Inc. (EBAY) has a price-to-earnings (P/E) ratio of 24.0x. This is roughly in line with market averages.

Growth & Financials

eBay Inc. (EBAY) reported $10.71B in revenue for fiscal year 2024. This represents a 8% decrease from $11.65B in 2011.

eBay Inc. (EBAY) grew revenue by 1.7% over the past year. Growth has been modest.

Yes, eBay Inc. (EBAY) is profitable, generating $2.18B in net income for fiscal year 2024 (19.2% net margin).

Dividend & Returns

Yes, eBay Inc. (EBAY) pays a dividend with a yield of 1.13%. This makes it attractive for income-focused investors.

eBay Inc. (EBAY) has a return on equity (ROE) of 34.2%. This is excellent, indicating efficient use of shareholder capital.

eBay Inc. (EBAY) generated $1.30B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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