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ValueScreener company report

eBay Inc. (EBAY)

NASDAQ / Consumer Cyclical / Specialty Retail

Share price

122.91 USD Market dataClose of Oct 15, 2026

Market capitalisation

54.69B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Feb 19, 2026
Ratios computed
Oct 15, 2026
Filed years
18, FY2007 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

20.1% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

27.74x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

2.5% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 8.98B USDFY2016 Net income: 7.27B USDFY2017 Revenue: 9.57B USDFY2017 Net income: -1.02B USDFY2018 Revenue: 8.65B USDFY2018 Net income: 2.53B USDFY2019 Revenue: 7.43B USDFY2019 Net income: 1.79B USDFY2020 Revenue: 8.89B USDFY2020 Net income: 5.67B USDFY2021 Revenue: 10.42B USDFY2021 Net income: 13.61B USDFY2022 Revenue: 9.79B USDFY2022 Net income: -1.27B USDFY2023 Revenue: 10.11B USDFY2023 Net income: 2.77B USDFY2024 Revenue: 10.28B USDFY2024 Net income: 1.98B USDFY2025 Revenue: 11.10B USDFY2025 Net income: 2.03B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
2 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 27.74x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 25.00x and 40.00x.

Today, against the Specialty Retail industry (44 companies), 27.74x sits at the 51st percentile; the middle half of that group runs from 15.54x to 47.91x.

Is it good

Return on invested capital was 20.1% in FY2025, in the band labelled "Exceptional" (20.0% and above), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on the capital in the business well above the usual cost of that capital.

Today, against the Consumer Cyclical sector (222 companies), 20.1% sits at the 82nd percentile; the middle half of that group runs from 3.6% to 14.8%.

Is it safe

Interest coverage was 9.26x in FY2025, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether eBay Inc.'s return on invested capital stayed above the median of the Consumer Cyclical sector, year by year. (FY2022 to FY2025, 4 fiscal years of eBay Inc. with a comparable figure)
The direction
Which way eBay Inc.'s return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of eBay Inc.)
What could explain it
What in eBay Inc.'s filed statements could explain the movements. (14 readings drawn from the statement lines eBay Inc. filed)
What to check next
What to check next on eBay Inc., and where in its filings. (9 questions for eBay Inc.)
In one paragraph
One paragraph on eBay Inc.'s returns, cash, balance sheet and price. (16 of sixteen figures read for eBay Inc.)

These are EBAY’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research EBAYPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 19, 2026, accession 0001065088-26-000027.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

eBay Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax20.1% ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Return on equity45.3% ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Return on capital employed, pre-tax17.8% ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Return on assets11.7% ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Gross margin71.5% ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Operating margin20.5% ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Net margin18.3% ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
EBAY 18.3%
WSM 13.9%MELI 6.9%ULTA 9.3%TSCO 7.1%SE 6.9%
6.9%18.3%
Net margin: EBAY against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

eBay Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity1.60 ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Current ratio1.10 ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Quick ratio1.10 ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Interest coverage9.26x ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Altman Z-score6.92 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Net debt5.31B ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Total assets 17.44BTotal liabilities 12.95BShareholders' equity 4.48BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What eBay Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 19, 2026, 0001065088-26-000027).

eBay Inc: balance sheet position
Total assets17.44B FiledFY2025 10-K, filed Feb 19, 2026
Total liabilities12.95B FiledFY2025 10-K, filed Feb 19, 2026
Shareholders' equity4.48B FiledFY2025 10-K, filed Feb 19, 2026
Cash1.87B FiledFY2025 10-K, filed Feb 19, 2026
Total debt7.18B FiledFY2025 10-K, filed Feb 19, 2026
Net debt5.31B
Current ratio1.10
Debt to equity1.60

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

eBay Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings27.74x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
P/E on trailing twelve months24.05x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book12.83x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Price to sales5.18x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Enterprise value to EBIT27.60x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Enterprise value to EBITDA23.29x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Diluted earnings per share4.34 USD FiledFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Graham number30.90 USD ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027

We publish no fair value or price target of our own. Value EBAY on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for eBay Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

eBay Inc: valuation
Share price122.91 USD
Market capitalisation54.69B USD
Enterprise value to EBITDA23.29x
Graham number30.90 USD
Diluted earnings per share, FY20254.34 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 2.37x, median 14.56x, high 287.00x, latest 24.05x. 2,230 trading days with a meaningful ratio, 291 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like eBay Inc

  1. Williams-Sonoma, Inc. (WSM)Market cap 29.68B USD
  2. MercadoLibre, Inc. (MELI)Market cap 94.14B USD
  3. Ulta Beauty, Inc. (ULTA)Market cap 26.05B USD
  4. Tractor Supply Company (TSCO)Market cap 17.39B USD
  5. Sea Limited (SE)Market cap 59.69B USD

Same industry (Specialty Retail) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

eBay Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield2.5% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Free cash flow1.43B USD ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Free cash flow margin12.9% ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Dividend yield1.0% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Payout ratio26.1% ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
FY2016 Free cash flow: 2.20B USDFY2016 Net income: 7.27B USDFY2017 Free cash flow: 2.48B USDFY2017 Net income: -1.02B USDFY2018 Free cash flow: 2.04B USDFY2018 Net income: 2.53B USDFY2019 Free cash flow: 2.61B USDFY2019 Net income: 1.79B USDFY2020 Free cash flow: 1.96B USDFY2020 Net income: 5.67B USDFY2021 Free cash flow: 2.21B USDFY2021 Net income: 13.61B USDFY2022 Free cash flow: 1.80B USDFY2022 Net income: -1.27B USDFY2023 Free cash flow: 1.97B USDFY2023 Net income: 2.77B USDFY2024 Free cash flow: 1.96B USDFY2024 Net income: 1.98B USDFY2025 Free cash flow: 1.43B USDFY2025 Net income: 2.03B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

eBay Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
27.74xFY2025Oct 15, 2026
12.83xFY2025Oct 15, 2026
27.60xFY2025Oct 15, 2026
2.5%FY2025Oct 15, 2026
20.1%FY2025Feb 19, 2026
1.0%FY2025Oct 15, 2026
1.60FY2025Feb 19, 2026
1.10FY2025Feb 19, 2026
5.18xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
6.92FY2025Oct 15, 2026
-2.47FY2025Feb 19, 2026
5/9FY2025Feb 19, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 18 filed fiscal years on record, FY2007 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports eBay Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

eBay Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202511.10B2.28B2.03B4.341.43B20.5%45.3%10-K, Feb 19, 20260001065088-26-000027
FY202410.28B2.32B1.98B3.941.96B22.5%38.3%10-K, Feb 27, 20250001065088-25-000037
FY202310.11B1.94B2.77B5.191.97B19.2%43.3%10-K, Feb 28, 20240001065088-24-000036
FY20229.79B2.35B-1.27B-2.271.80B24.0%-24.6%10-K, Feb 23, 20230001065088-23-000006
FY202110.42B2.92B13.61B20.542.21B28.1%139.2%10-K, Feb 24, 20220001065088-22-000006
FY20208.89B2.64B5.67B7.891.96B29.6%159.1%10-K, Feb 4, 20210001065088-21-000006
FY20197.43B1.77B1.79B2.092.61B23.8%62.2%10-K, Jan 31, 20200001065088-20-000006
FY20188.65B1.75B2.53B2.552.04B20.3%40.3%10-K, Jan 30, 20190001065088-19-000006
FY20179.57B2.26B-1.02B-0.952.48B23.7%-12.6%10-K, Feb 5, 20180001065088-18-000009
FY20168.98B2.33B7.27B6.352.20B25.9%69.0%10-K, Feb 6, 20170001065088-17-000007
  • Revenue, compound annual growth FY2016 to FY2025: 2.4%
  • Earnings, compound annual growth FY2016 to FY2025: -13.2%
  • Earnings per share, compound annual growth FY2016 to FY2025: -4.1%
  • Free cash flow, compound annual growth FY2016 to FY2025: -4.6%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

eBay Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.47 ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Piotroski F-score5/9 ComputedFY2025 10-K, filed Feb 19, 2026, 0001065088-26-000027
Named tests met2 of 30 Computed
Beta0.55 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 2 met, 28 not met, 0 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
ROIC at or above WACC; Cash-covered dividend
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Figures we could not read(1)
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • One figure could not be read on this company: PEG Ratio.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.