eBay Inc.

EBAY · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997
Valuation
Market cap	$39,369	$29,674	$22,639	$22,504	$41,629	$31,457	$29,377	$27,027	$39,422	$33,191	$33,196	$29,549	$29,902	$27,726	$16,512	$15,293	$12,769	$7,664	$18,982	$17,715	$24,769	$32,553	$17,361	$8,476	$7,574	$3,495	$11,476	$5,286	$804
Enterprise value	$43,826	$31,647	$21,875	$27,145	$43,738	$36,179	$34,998	$31,343	$43,574	$35,002	$33,844	$29,341	$26,646	$22,837	$12,672	$10,465	$7,826	$5,312	$14,102	$14,510	$22,652	$31,001	$15,806	$7,327	$6,917	$2,979	$11,104	$5,271	$801
P/E (TTM) at period end	19.38×	15.02×	8.18×	–	3.06×	5.55×	16.45×	10.68×	–	4.57×	19.24×	642.36×	10.47×	10.63×	5.11×	8.49×	5.34×	4.31×	54.51×	15.74×	22.89×	41.83×	39.30×	33.92×	83.74×	72.37×	1199.52×	724.05×	113.19×
P/S (TTM) at period end	3.55×	2.89×	2.24×	2.30×	4.00×	3.54×	3.95×	3.12×	4.12×	3.70×	3.86×	3.36×	3.62×	1.97×	1.42×	1.67×	1.46×	0.90×	2.47×	2.97×	5.44×	9.95×	8.02×	6.98×	10.11×	8.10×	51.07×	61.39×	19.41×
P/B at period end	8.78×	5.75×	3.54×	4.37×	4.26×	8.83×	10.24×	4.30×	4.90×	3.15×	5.05×	1.48×	1.26×	1.33×	0.92×	1.00×	0.93×	0.69×	1.62×	1.62×	2.47×	4.84×	3.55×	2.38×	5.30×	3.45×	13.46×	52.59×	200.91×
EV / EBITDA (TTM)	16.33×	11.98×	9.33×	9.72×	12.77×	11.24×	14.77×	13.13×	14.82×	11.64×	11.74×	9.29×	8.56×	5.59×	3.83×	3.72×	3.45×	1.90×	11.61×	7.37×	12.45×	23.51×	20.05×	17.01×	30.05×	36.44×	418.86×	263.53×	69.01×
EV / Sales (TTM)	3.95×	3.08×	2.16×	2.77×	4.20×	4.07×	4.71×	3.62×	4.55×	3.90×	3.94×	3.34×	3.23×	1.62×	1.09×	1.14×	0.90×	0.62×	1.84×	2.43×	4.98×	9.48×	7.30×	6.03×	9.24×	6.90×	49.41×	61.22×	19.34×
Returns
Return on equity	45.3%	38.3%	43.3%	(24.6%)	139.2%	159.1%	62.2%	40.3%	(12.6%)	69.0%	26.2%	0.2%	12.1%	12.5%	18.0%	11.8%	17.3%	16.1%	3.0%	10.3%	10.8%	11.6%	9.0%	7.0%	6.3%	4.8%	1.1%	7.3%	177.5%
Return on invested capital	19.7%	19.0%	11.5%	15.1%	10.4%	18.4%	14.8%	12.5%	–	13.2%	15.4%	–	7.9%	13.2%	12.8%	15.3%	12.4%	19.0%	3.8%	12.6%	11.6%	12.6%	11.8%	9.0%	7.4%	2.6%	0.1%	9.0%	983.7%
Dividend yield	1.3%	1.8%	2.3%	2.2%	1.1%	1.4%	1.6%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.0%	0.0%	0.0%	0.1%	0.6%
Financial health
Current ratio	1.10×	1.24×	2.44×	2.18×	1.97×	1.80×	1.16×	1.60×	2.18×	2.31×	3.49×	1.51×	1.84×	1.96×	1.88×	2.45×	2.32×	1.70×	2.30×	1.97×	2.14×	2.68×	3.32×	3.80×	4.91×	4.91×	5.00×	3.95×	4.55×
Debt / equity	1.50×	1.44×	1.21×	1.72×	0.93×	2.18×	2.70×	1.47×	1.24×	0.85×	1.03×	0.38×	0.17×	0.22×	0.12×	0.12×	–	0.09×	–	–	–	0.07×	0.03×	0.00×	0.02×	0.03×	0.04×	0.22×	0.15×
Effective tax rate	13.5%	13.0%	25.1%	20.4%	36.7%	25.7%	13.3%	5.4%	144.5%	(99.5%)	19.1%	134.4%	19.6%	15.4%	17.4%	14.2%	17.0%	18.5%	53.6%	27.2%	30.2%	30.5%	31.3%	36.9%	49.1%	40.4%	47.0%	39.7%	12.3%
Share count
Diluted shares outstanding	468	501	533	558	663	718	856	991	1,064	1,144	1,220	1,251	1,313	1,313	1,313	1,327	1,305	1,313	1,376	1,425	1,394	1,354	1,313	1,200	1,122	1,121	2,184	1,250	967

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997
Revenue and gross profit
Revenue	$12,008	$11,100	$10,283	$10,112	$9,795	$10,420	$8,894	$7,429	$8,650	$9,567	$8,979	$8,592	$8,790	$8,257	$14,072	$11,652	$9,156	$8,727	$8,541	$7,672	$5,970	$4,552	$3,271	$2,165	$1,214	$749	$431	$225	$86	$41
Cost of revenue	($3,304)	($3,169)	($2,880)	($2,833)	($2,680)	($2,650)	($1,797)	($1,585)	($2,023)	($2,221)	($2,004)	($1,771)	($1,663)	($1,492)	($4,216)	($3,461)	($2,564)	($2,480)	($2,228)	($1,763)	($1,257)	($818)	($614)	($416)	($214)	($135)	($52)	($58)	($10)	($7)
Gross profit	$8,704	$7,931	$7,403	$7,279	$7,115	$7,770	$7,097	$5,844	$6,627	$7,706	$7,294	$6,821	$7,127	$6,765	$9,856	$8,191	$6,592	$6,248	$6,313	$5,909	$4,713	$3,734	$2,657	$1,749	$1,000	$614	$380	$167	$76	$34
Operating expenses
Research and development	($1,793)	($1,642)	($1,479)	($1,544)	($1,330)	($1,325)	($1,028)	($930)	($1,051)	($1,224)	($1,114)	($923)	($983)	($915)	($1,573)	($1,235)	($908)	($803)	($726)	($620)	($495)	($328)	($241)	($159)	($105)	($75)	($56)	($25)	($5)	($1)
Selling, general and administrative	($1,282)	($1,198)	($914)	($1,196)	($963)	($921)	($985)	($988)	($979)	($1,030)	($899)	($1,122)	($889)	($880)	($1,567)	($1,364)	($1,101)	($1,418)	($999)	($905)	($2,598)	($1,835)	($1,291)	($870)	($521)	($359)	($240)	($140)	($52)	($22)
Total operating expenses	($6,240)	($5,654)	($5,085)	($5,338)	($4,765)	($4,847)	($4,461)	($4,074)	($4,875)	($5,442)	($4,969)	($4,624)	($4,651)	($4,311)	($6,968)	($5,818)	($4,538)	($4,791)	($4,238)	($5,296)	($3,290)	($2,293)	($1,598)	($1,120)	($646)	($474)	($343)	($166)	($64)	($24)
Total costs and expenses	($9,544)	($8,823)	($7,965)	($8,171)	($7,445)	($7,497)	($6,258)	($5,659)	($6,898)	($7,303)	($6,654)	($6,395)	($6,314)	($5,803)	($11,184)	($9,279)	($7,102)	($7,271)	($6,466)	($7,059)	($4,547)	($3,111)	($2,212)	($1,536)	($860)	($608)	($395)	($224)	($73)	($31)
Operating income	$2,464	$2,277	$2,318	$1,941	$2,350	$2,923	$2,636	$1,770	$1,752	$2,264	$2,325	$2,197	$2,476	$2,454	$2,888	$2,373	$2,054	$1,457	$2,076	$613	$1,423	$1,442	$1,059	$629	$354	$140	$37	$1	$13	$10
Earnings
EBITDA	$2,879	$2,684	$2,642	$2,344	$2,792	$3,425	$3,219	$2,370	$2,387	$2,940	$3,007	$2,884	$3,158	$3,114	$4,088	$3,313	$2,816	$2,268	$2,795	$1,215	$1,968	$1,820	$1,319	$788	$431	$230	$82	$27	$20	$12
Interest income	$240	$265	$272	$204	$73	$19	$38	$112	$176	$177	$125	$97	$125	$102	$134	$111	$23	$1,422	$116	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($249)	($246)	($259)	($263)	($235)	($269)	($304)	($311)	($326)	($292)	($225)	($144)	($109)	($95)	($63)	($25)	($4)	–	($8)	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$2,479	$2,307	$2,278	$3,707	($1,601)	$398	$3,345	$1,652	$2,249	$2,275	$3,651	$2,406	$2,515	$2,571	$3,084	$3,910	$2,098	$2,879	$2,184	$751	$1,547	$1,549	$1,128	$662	$396	$163	$81	$18	$12	$8
Income tax expense	($293)	($311)	($297)	($932)	$327	($146)	($858)	($219)	($121)	($3,288)	$3,634	($459)	($3,380)	($504)	($475)	($681)	($297)	($490)	($404)	($403)	($421)	($467)	($344)	($207)	($146)	($80)	($33)	($8)	($5)	($1)
Net income	$2,222	$2,031	$1,975	$2,767	($1,269)	$13,608	$5,667	$1,786	$2,530	($1,017)	$7,266	$1,725	$46	$2,856	$2,609	$3,229	$1,801	$2,389	$1,779	$348	$1,126	$1,082	$778	$442	$250	$90	$48	$10	$7	$7
Per share
Diluted EPS (GAAP)	$4.83	$4.34	$3.94	$5.19	($2.27)	$20.54	$7.89	$2.09	$2.55	($0.95)	$6.35	$1.42	$0.04	$2.18	$1.99	$2.46	$1.36	$1.83	$1.36	$0.25	$0.79	$0.78	$0.57	$0.34	$0.21	$0.08	$0.0425	$0.005	$0.0025	$0.0073
Basic EPS (GAAP)	$4.94	$4.43	$3.99	$5.22	($2.27)	$20.87	$7.98	$2.10	$2.58	($0.95)	$6.41	$1.43	$0.04	$2.20	$2.02	$2.50	$1.38	$1.85	$1.37	$0.26	$0.80	$0.79	$0.59	$0.35	$0.21	$0.085	$0.0475	$0.005	$0.0058	$0.0073
Basic shares outstanding	450	459	496	530	558	652	710	849	980	1,064	1,133	1,208	1,251	1,295	1,292	1,293	1,306	1,290	1,303	1,359	1,399	1,362	1,330	1,277	1,187	1,076	1,007	1,741	1,250	967
Margins
Gross margin	72.5%	71.5%	72.0%	72.0%	72.6%	74.6%	79.8%	78.7%	76.6%	80.5%	81.2%	79.4%	81.1%	81.9%	70.0%	70.3%	72.0%	71.6%	73.9%	77.0%	78.9%	82.0%	81.2%	80.8%	82.4%	82.0%	88.0%	74.4%	88.7%	83.3%
Operating margin	20.5%	20.5%	22.5%	19.2%	24.0%	28.1%	29.6%	23.8%	20.3%	23.7%	25.9%	25.6%	28.2%	29.7%	20.5%	20.4%	22.4%	16.7%	24.3%	8.0%	23.8%	31.7%	32.4%	29.1%	29.2%	18.8%	8.5%	0.4%	14.9%	24.4%
Net margin	18.5%	18.3%	19.2%	27.4%	(13.0%)	130.6%	63.7%	24.0%	29.2%	(10.6%)	80.9%	20.1%	0.5%	34.6%	18.5%	27.7%	19.7%	27.4%	20.8%	4.5%	18.9%	23.8%	23.8%	20.4%	20.6%	12.1%	11.2%	4.3%	8.5%	17.1%

Analyst consensus

Buy69 analysts

Bearish · 2 · Hold · 33 · Bullish · 34

Earnings history

	EPS	Estimate
Q3 2024	$1.19	$1.18	Beat
Q4 2024	$1.25	$1.20	Beat
Q1 2025	$1.38	$1.34	Beat
Q2 2025	$1.37	$1.30	Beat
Q3 2025	$1.36	$1.33	Beat
Q4 2025	$1.41	$1.35	Beat
Q1 2026	$1.66	$1.58	Beat
Q2 2026	$1.60	$1.50	Beat

Peers

Company overview

IPO dateSep 24, 1998

CEOJamie J. Iannone

Employees12,300

SectorConsumer Cyclical

IndustrySpecialty Retail

CountryUS

ExchangeNASDAQ Global Select

Websitewww.ebayinc.com

eBay Inc. manages an extensive global e-commerce ecosystem designed to facilitate transactions between buyers and sellers. This framework primarily encompasses its flagship website, ebay.com, alongside its suite of dedicated mobile applications. Through these digital platforms, users are empowered to list, discover, purchase, and pay for a vast array of goods. These transactions occur across a multitude of channels—online, mobile, and even certain traditional avenues—involving a diverse array of participants. This includes individual sellers, small businesses, and larger entities such as retailers, distributors, liquidators, import/export firms, and auctioneers, often integrating with various commerce platforms, search engines, and shopping networks. The company was established in 1995 and its corporate headquarters are situated in San Jose, California.

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