FirmAtlas
Company handbook · EBAY · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
EBAY · CIK 1065088 · LATEST FILING: 10-Q JUN '26 · FILED AUG 6, 2026
eBay Inc.
$120.28
−2.63 (−2.14%)
Close, Oct 16, 2026 · 52-week $78–125
Last fiscal year
eBay Inc. reported revenue of $11.1B for the year ended Dec 31, 2025 (FY25), up 7.9% from FY24. Net income was $2.0B, operating cash flow $2.0B and free cash flow $1.4B. Source: 10-K filed Feb 19, 2026.
Market cap
$54.0B
P/E
24.2
EV/EBITDA
21.4x
P/B
11.6
Div yield
1.01%
ROIC
22.4%
Revenue 1Y
7.9%/yr
EPS 1Y
10.2%/yr
Shares 1Y
−5%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOJamie Iannone
HQSan Jose, CA
AuditorPricewaterhouseCoopers LLP
Employees12,300
Year endsDecember
Revenue by segment · FY25
Marketplace Revenues82%
Advertising Revenues18%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
14.2%
9.9%
41.5%
31.9%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$7.9B deployed
Capex
$983M
12.4%
Acquisitions
$221M
2.8%
Dividends
$1.1B
13.4%
Buybacks
$5.6B
71.4%
Operating cash flow over the period: $4.4B. Total debt changed by −$679M. R&D of $3.1B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
10,283
11,100+7.9%
12,008
YoY
+7.9%
Gross profit
7,403
7,931+7.1%
8,652
Gross margin
72.0%
71.5%−0.5 pp
—
Operating income
2,318
2,277−1.8%
2,474
Operating margin
22.5%
20.5%−2.0 pp
—
EBITDA
2,688
2,698+0.4%
—
EBITDA margin
26.1%
24.3%−1.8 pp
—
Interest expense
259
246−5.0%
—
Interest coverage
10.38x
10.97x+0.59x
—
Net income
1,975
2,031+2.8%
2,230
YoY
+2.8%
Net margin
19.2%
18.3%−0.9 pp
—
EPS (diluted, $)
3.94
4.34+10.2%
4.87
YoY
+10.2%
Balance sheet
Total assets
19,365
17,610−9.1%
17,933
Cash & short-term investments
3,286
3,055−7.0%
—
Accounts receivable
108
135+25.0%
—
Net PP&E
1,263
1,338+5.9%
—
Other assets
14,708
13,082−11.1%
—
Total liabilities
14,207
12,995−8.5%
13,268
Accounts payable
257
242−5.8%
—
Total debt
7,425
6,746−9.1%
6,735
Other liabilities
6,525
6,007−7.9%
—
Shareholders’ equity
5,158
4,615−10.5%
4,665
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,414
1,959−18.8%
3,036
Net income
1,975
2,031+2.8%
—
Depreciation & amortization
370
421+13.8%
—
Stock-based compensation
588
607+3.2%
—
Working capital & other
(519)
(1,100)n/m
—
Cash from investing
2,213
1,420−35.8%
—
Capex
(458)
(525)n/m
—
Acquisitions
(13)
(208)n/m
—
Investments bought
(13,855)
(6,735)n/m
—
Investments sold / matured
12,306
—
—
Other investing
4,233
8,888+110.0%
—
Cash from financing
(3,806)
(3,661)n/m
—
Debt raised
0
994n/m
—
Debt repaid
(750)
(1,225)n/m
—
Dividends
(533)
(531)n/m
—
Buybacks
(3,149)
(2,500)n/m
—
Shares issued
92
141+53.3%
—
Other financing
534
(540)−201.1%
—
Net change in cash
793
(231)−129.1%
—
Free cash flow (OCF − capex)
1,956
1,434−26.7%
2,428
Where the cash went
Operating cash flow
2,414
1,959−18.8%
3,036
Reinvested in the business
471
733+55.6%
—
% of operating cash flow
19.5%
37.4%
Capex
458
525+14.6%
608
Acquisitions
13
208+1500.0%
—
R&D (memo, already in costs)
1,479
1,642+11.0%
—
Free cash flow
1,956
1,434−26.7%
2,428
YoY
−26.7%
Returned to shareholders
3,682
3,031−17.7%
—
% of free cash flow
188.2%
211.4%
Dividends
533
531−0.4%
—
Buybacks
3,149
2,500−20.6%
—
Change in total debt
—
(679)
—
Cash left over
—
(2,484)
—
FCF conversion (FCF ÷ net income)
99.0%
70.6%−28.4 pp
—
Owner earnings
—
1,885
—
Owner earnings margin
—
17.0%
—
Buyback yield
10.8%
6.4%−4.4 pp
—
Returns & ratios
ROIC (all capital)
21.7%
22.4%+0.7 pp
—
ROIC (operating)
181.0%
168.0%−12.9 pp
—
Net debt / EBITDA
1.54x
1.37x−0.17x
—
Debt / equity
1.44x
1.46x+0.02x
—
ROE
38.3%
44.0%+5.7 pp
—
ROA
10.2%
11.5%+1.3 pp
—
ROCE
17.5%
17.6%+0.1 pp
—
NOPAT
2,016
1,970−2.3%
—
Invested capital (operating)
1,114
1,231+10.5%
—
Invested capital (all)
9,297
8,306−10.7%
—
Reinvestment rate
—
5.9%
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
2,820
2,965
3,089
3,134
vs year-ago quarter
Gross profit
1,999
2,064
2,287
2,302
Gross margin
70.9%
69.6%
74.0%
73.5%
Operating income
576
611
611
676
Net income
632
536
512
550
vs year-ago quarter
Net margin
22.4%
18.1%
16.6%
17.5%
EPS (diluted, $)
1.35
1.19
1.12
1.21
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
17,791
17,610
17,893
17,933
Cash & equivalents
3,513
3,055
4,234
3,698
Total debt
6,751
6,746
6,744
6,735
Shareholders’ equity
4,719
4,615
4,412
4,665
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
961
583
969
523
Capex
196
117
72
223
Free cash flow
765
466
897
300
vs year-ago quarter