eBay Inc
EBAY—
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eBay Inc AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 4.4B is 93% of equity (4.7B) - tangible book value only 343M. Acquisition-heavy balance sheet creates impairment risk.[Goodwill]
- Operating margin TTM 20.7% vs industry median 1.9% - 10x advantage reflects mature marketplace economics with minimal incremental costs.[Operating Margin TTM]
- Negative working capital (-438M) means eBay collects before paying - a capital-light float advantage typical of dominant platforms.[Working Capital]
Watch Triggers
- Operating Margin TTM: Falls below 18% — Margin compression signals competitive pressure or investment needs that break the buyback math
- Free Cash Flow TTM: Drops below 1.2B — Threatens dividend sustainability and forces choice between buybacks and deleveraging
- Total Debt: Exceeds 8B or debt/equity >2x — Balance sheet stress given minimal tangible equity cushion
Bull Case
ROE of 43% TTM with 17.4% ROIC demonstrates exceptional capital efficiency. P/E 19x below industry median 37x despite superior profitability.
ROE TTMROIC TTMP/E Ratio
FCF yield of 3.9% (1.5B/39B market cap) funds 1.14 dividend plus buybacks - returning ~1.7B annually to shareholders.
Free Cash Flow TTMDividends Paid Per Share TTMCommon Stock Payments
Bear Case
Debt/equity 1.5x with 7.1B total debt and only 343M tangible book value - limited balance sheet flexibility if marketplace share erodes.
Debt to EquityTotal DebtTangible Book Value
P/B ratio 114x signals market prices in perpetual earnings power - any GMV decline would compress multiple severely.
P/B RatioBook Value Per Share
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
Margin stability sustains 1.5B+ annual FCF enabling continued aggressive buybacks despite flat revenue
1-3yhigh
- Gross margin 71.6% locked in via asset-light model
- 626M TTM buybacks reducing share count
- Debt/equity 1.5x manageable at current rates
FCF TTM 1.5B on 10.7B revenue (14% yield)Net stock repurchases 618M TTMOperating margin 20.7% stable
EPS growth will decelerate as buyback math hits limits without revenue acceleration
1-3ymed
- 1Y EPS growth 31.9% driven by buybacks
- Revenue growth near zero (10.7B mature)
- Debt capacity constrained at 7.1B total
3Y EPS CAGR 21.2% vs flat revenueTotal debt 7.1B vs equity 4.7BInterest expense 250M TTM
Valuation Context
Caveats
Public Strategies Rankings
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EBAY Fundamentals
Retail Trade → Nonstore Retailers
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$43.21B | — | ||
$48.52B | — | ||
22 | — | ||
$11.1B | +7.9% | — | |
$4.34 | +4.9% | — | |
20.5% | -2.0% | — | |
18.3% | -0.9% | — | |
$1.43B | -26.7% | — | |
41.6% | +7.4% | — | |
Beta 5Y (Monthly) | unknown | — |
EBAY Dividend History
29 dividends
2026
$0.310003/06/26$0.3100
2025
$1.160011/28/25$0.2900
08/29/25$0.2900
05/30/25$0.2900
03/14/25$0.2900
2024
$1.080011/29/24$0.2700
08/30/24$0.2700
05/31/24$0.2700
03/08/24$0.2700
2023
$1.000011/30/23$0.2500
08/31/23$0.2500
05/31/23$0.2500
03/09/23$0.2500
2022
$0.880011/30/22$0.2200
08/31/22$0.2200
05/31/22$0.2200
03/09/22$0.2200
2021
$0.720011/30/21$0.1800
08/31/21$0.1800
05/28/21$0.1800
02/26/21$0.1800
2020
$0.640011/30/20$0.1600
08/31/20$0.1600
05/29/20$0.1600
02/28/20$0.1600
2019
$0.560011/29/19$0.1400
08/30/19$0.1400
05/30/19$0.1400
02/28/19$0.1400
EBAY Stock Splits
3 stock splits
02/17/050.5:1 split
08/29/030.5:1 split
05/25/000.5:1 split
EBAY SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/19/26 | 12/31/25 | Unknown | |
10/30/25 | 09/30/25 | 10-Q | |
07/31/25 | 06/30/25 | 10-Q | |
05/01/25 | 03/31/25 | 10-Q | |
02/27/25 | 12/31/24 | 10-K | |
10/31/24 | 09/30/24 | 10-Q | |
08/01/24 | 06/30/24 | 10-Q | |
05/02/24 | 03/31/24 | 10-Q | |
02/28/24 | 12/31/23 | 10-K | |
11/08/23 | 09/30/23 | 10-Q | |
07/27/23 | 06/30/23 | 10-Q | |
04/27/23 | 03/31/23 | 10-Q | |
02/23/23 | 12/31/22 | 10-K | |
11/03/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
05/05/22 | 03/31/22 | 10-Q | |
02/24/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
08/12/21 | 06/30/21 | 10-Q | |
04/29/21 | 03/31/21 | 10-Q | |
02/04/21 | 12/31/20 | 10-K | |
10/29/20 | 09/30/20 | 10-Q | |
07/29/20 | 06/30/20 | 10-Q | |
04/30/20 | 03/31/20 | 10-Q | |
01/31/20 | 12/31/19 | 10-K | |
10/25/19 | 09/30/19 | 10-Q | |
07/18/19 | 06/30/19 | 10-Q | |
04/24/19 | 03/31/19 | 10-Q | |
01/30/19 | 12/31/18 | 10-K | |
10/31/18 | 09/30/18 | 10-Q | |
07/19/18 | 06/30/18 | 10-Q | |
04/26/18 | 03/31/18 | 10-Q | |
02/05/18 | 12/31/17 | 10-K | |
10/20/17 | 09/30/17 | 10-Q | |
07/21/17 | 06/30/17 | 10-Q | |
04/20/17 | 03/31/17 | 10-Q | |
02/06/17 | 12/31/16 | 10-K | |
10/20/16 | 09/30/16 | 10-Q | |
07/21/16 | 06/30/16 | 10-Q | |
04/27/16 | 03/31/16 | 10-Q | |
02/01/16 | 12/31/15 | 10-K | |
10/28/15 | 09/30/15 | 10-Q | |
07/21/15 | 06/30/15 | 10-Q | |
04/23/15 | 03/31/15 | 10-Q | |
02/06/15 | 12/31/14 | 10-K | |
10/16/14 | 09/30/14 | 10-Q | |
07/18/14 | 06/30/14 | 10-Q | |
05/01/14 | 03/31/14 | 10-Q | |
01/31/14 | 12/31/13 | 10-K | |
10/18/13 | 09/30/13 | 10-Q | |
07/19/13 | 06/30/13 | 10-Q | |
04/19/13 | 03/31/13 | 10-Q | |
02/01/13 | 12/31/12 | 10-K | |
10/19/12 | 09/30/12 | 10-Q | |
07/19/12 | 06/30/12 | 10-Q | |
04/20/12 | 03/31/12 | 10-Q | |
01/31/12 | 12/31/11 | 10-K | |
10/21/11 | 09/30/11 | 10-Q | |
07/22/11 | 06/30/11 | 10-Q | |
04/29/11 | 03/31/11 | 10-Q | |
01/28/11 | 12/31/10 | 10-K | |
10/21/10 | 09/30/10 | 10-Q | |
07/23/10 | 06/30/10 | 10-Q | |
04/28/10 | 03/31/10 | 10-Q | |
02/17/10 | 12/31/09 | 10-K | |
10/27/09 | 09/30/09 | 10-Q | |
07/29/09 | 06/30/09 | 10-Q | |
04/28/09 | 03/31/09 | 10-Q | |
02/20/09 | 12/31/08 | 10-K | |
10/23/08 | 09/30/08 | 10-Q | |
07/24/08 | 06/30/08 | 10-Q | |
04/24/08 | 03/30/08 | Unknown | -- |
02/29/08 | 12/31/07 | 10-K | |
10/29/07 | 09/30/07 | 10-Q | |
07/27/07 | 06/30/07 | 10-Q | |
04/25/07 | 03/30/07 | Unknown | -- |
02/28/07 | 12/31/06 | 10-K | |
10/30/06 | 09/30/06 | 10-Q | |
07/28/06 | 06/30/06 | 4 | |
04/25/06 | 03/30/06 | Unknown | -- |
02/24/06 | 12/31/05 | 10-K | |
10/25/05 | 09/30/05 | 4 | |
07/27/05 | 06/30/05 | 10-Q | |
04/27/05 | 03/30/05 | Unknown | -- |
02/28/05 | 12/31/04 | 4 | |
10/27/04 | 09/30/04 | 10-Q | |
08/04/04 | 06/30/04 | 10-Q | |
05/10/04 | 03/30/04 | Unknown | -- |
03/08/04 | 12/31/03 | 10-K | |
11/12/03 | 09/30/03 | 10-Q | |
08/11/03 | 06/30/03 | 10-Q | |
05/15/03 | 03/30/03 | Unknown | -- |
03/31/03 | 12/31/02 | 10-K | |
11/14/02 | 09/30/02 | 10-Q | |
08/06/02 | 06/30/02 | 10-Q | |
05/10/02 | 03/30/02 | Unknown | -- |
03/25/02 | 12/31/01 | 10-K | |
11/14/01 | 09/30/01 | 10-Q | |
08/14/01 | 06/30/01 | 10-Q | |
05/15/01 | 03/31/01 | S-8 | |
03/28/01 | 12/31/00 | 10-K | |
11/09/00 | 09/30/00 | 10-Q | |
08/09/00 | 06/30/00 | 10-Q | |
05/15/00 | 03/30/00 | Unknown | -- |