eBay (EBAY)
NASDAQ:EBAY
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eBay
(NASDAQ:EBAY)
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Rating:67Neutral
Price Target:
$97.00
▲(1.68% Upside)
Action:ReiteratedDate:03/25/26
The score is driven primarily by solid underlying profitability and cash generation, partially tempered by leverage and softer recent free-cash-flow trends. Earnings-call guidance and execution signals are constructive and support the outlook, while technicals are neutral and valuation appears reasonable with a modest dividend.
Positive Factors
High profitability and margins
Sustained high gross margins (~71%+) and TTM net/EBITDA margins provide durable earnings power. Strong returns on equity (mid-40% TTM) underpin cash generation and reinvestment capacity, supporting long-term product investment and shareholder returns even through cyclicality.
Negative Factors
Meaningful leverage on the balance sheet
Debt at roughly 1.5x equity and gross debt exceeding cash positions limits financial flexibility for large strategic moves or cushioning against downturns. Higher leverage raises interest and refinancing risks and constrains optionality for M&A or incremental investment over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Sustained high gross margins (~71%+) and TTM net/EBITDA margins provide durable earnings power. Strong returns on equity (mid-40% TTM) underpin cash generation and reinvestment capacity, supporting long-term product investment and shareholder returns even through cyclicality.
Read all positive factors
eBay (EBAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$42.74B
Dividend Yield1.38%
Average Volume (3M)4.69M
Price to Earnings (P/E)19.3
Beta (1Y)0.47
Revenue Growth4.89%
EPS Growth17.30%
CountryUS
Employees11,500
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)1.41
Shares Outstanding448,000,000
10 Day Avg. Volume3,766,196
30 Day Avg. Volume4,694,657
Financial Highlights & Ratios
PEG Ratio1.67
Price to Book (P/B)8.51
Price to Sales (P/S)3.54
P/FCF Ratio23.65
Enterprise Value/Market Cap1.14
Enterprise Value/Revenue4.38
Enterprise Value/Gross Profit6.13
Enterprise Value/Ebitda17.06
Forecast
1Y Price Target
$100.41Price Target Upside5.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering23
EPS Forecast (FY)6.05
Revenue Forecast (FY)$12.01B
eBay Business Overview & Revenue Model
Company Description
eBay 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 enab...
How the Company Makes Money
eBay primarily makes money by charging fees tied to transactions that occur on its marketplace. The company’s main revenue stream is marketplace revenue, which generally includes (1) transaction-based fees charged to sellers for listing and sellin...
eBay Key Performance Indicators (KPIs)
Any
Active Buyers
Measures the number of unique buyers who have made a purchase on eBay, indicating the platform's reach, customer engagement, and potential for sales growth.
Measures the number of unique buyers who have made a purchase on eBay, indicating the platform's reach, customer engagement, and potential for sales growth.
Data provided by:
The Fly
The FlyeBay Earnings Call Summary
Earnings Call Date:Feb 18, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call presented strong execution: accelerating GMV and revenue growth, meaningful advertising and AI-driven product momentum, robust Q4 results, substantial capital returns, strategic M&A (Depop) and exceeded sustainability targets. Offsetting risks include international macro weakness, trade-policy-driven cross-border pressure, margin pressure from scaling shipping/managed programs, accounting changes that will affect 2026 metrics, and near-term dilution from the Depop acquisition. On balance, the company conveyed sustained momentum, healthy guidance, and multiple growth levers despite several manageable headwinds.Positive Updates
Full-Year GMV and U.S. Strength
Gross merchandise volume grew nearly 6% to approximately $80 billion in 2025, with U.S. GMV growing nearly 10%, driven by broad-based strength across strategic priorities.
Negative Updates
International Weakness
International GMV declined nearly 1% on an organic FX-neutral basis (FX provided ~290 bps tailwind to spot GMV); Europe (U.K. and Germany) pressured by weak macro and subdued retail trends.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year GMV and U.S. Strength
Gross merchandise volume grew nearly 6% to approximately $80 billion in 2025, with U.S. GMV growing nearly 10%, driven by broad-based strength across strategic priorities.
Read all positive updates
Company Guidance
eBay guided Q1 2026 GMV of $21.5–$21.9 billion (FX‑neutral growth 10–12% YoY; ~450 bps FX tailwind to spot), revenue of $3.0–$3.05 billion (FX‑neutral +13–15%; ~310 bps FX tailwind) — implying roughly a 3‑point delta between FX‑neutral revenue and GMV — non‑GAAP operating income growth of 11–16% with margins of 28.3–29.2%, and non‑GAAP EPS of $1.53–$1.59 (+12–16% YoY). For full‑year 2026 (ex‑Depop) management plans FX‑neutral GMV growth similar to 2025, revenue in line to slightly ahead of GMV, non‑GAAP operating income growth of 8–10%, non‑GAAP tax rate assumed at 17.5%, and CapEx of 4–5% of revenue. Capital allocation targets roughly $2 billion of buybacks in 2026 (Board added $2 billion repurchase authorization on top of ~$800 million remaining) and a Q1 dividend of $0.31; in a normal year they target returning 90–100% of free cash flow. The pending $1.2 billion cash Depop deal (expected close Q2) is forecast to add 1–2 pts to 2026 FX‑neutral GMV, act as a low‑single‑digit headwind to near‑term operating income and EPS growth, and be accretive to non‑GAAP operating income by 2028; accounting changes (internal‑use software expensing and U.K. managed‑shipping net revenue recognition) were also disclosed.eBay Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.10B | 10.28B | 10.11B | 9.79B | 10.42B |
| Gross Profit | 7.93B | 7.40B | 7.28B | 7.12B | 7.77B |
| EBITDA | 2.85B | 2.86B | 4.37B | -924.00M | 1.17B |
| Net Income | 2.03B | 1.98B | 2.77B | -1.27B | 13.61B |
Balance Sheet | |||||
| Total Assets | 17.61B | 19.36B | 21.62B | 20.85B | 26.63B |
| Cash, Cash Equivalents and Short-Term Investments | 2.92B | 6.22B | 9.02B | 7.51B | 7.32B |
| Total Debt | 7.38B | 7.86B | 8.23B | 9.42B | 9.43B |
| Total Liabilities | 12.99B | 14.21B | 15.22B | 15.70B | 16.85B |
| Stockholders Equity | 4.62B | 5.16B | 6.40B | 5.15B | 9.78B |
Cash Flow | |||||
| Free Cash Flow | 1.66B | 1.96B | 1.97B | 1.80B | 2.21B |
| Operating Cash Flow | 2.19B | 2.41B | 2.43B | 2.25B | 2.66B |
| Investing Cash Flow | 1.19B | 2.21B | 240.00M | 2.46B | 3.66B |
| Financing Cash Flow | -3.66B | -3.81B | -2.45B | -3.79B | -6.53B |
eBay Technical Analysis
Positive
95.40
Price Trends
89.48
Positive
87.91
Positive
87.75
Positive
Market Momentum
1.74
Negative
59.50
Neutral
77.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EBAY, the sentiment is Positive. The current price of 95.4 is above the 20-day moving average (MA) of 92.08, above the 50-day MA of 89.48, and above the 200-day MA of 87.75, indicating a bullish trend. The MACD of 1.74 indicates Negative momentum. The RSI at 59.50 is Neutral, neither overbought nor oversold. The STOCH value of 77.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EBAY.
eBay Risk Analysis
eBay disclosed 29 risk factors in its most recent earnings report. eBay reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
eBay Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $89.93B | 51.14 | 33.73% | ― | 38.01% | 44.52% | |
70 Outperform | $50.87B | 48.10 | 15.34% | ― | 35.85% | 1336.48% | |
67 Neutral | $42.74B | 19.34 | 42.68% | 1.38% | 4.89% | 17.30% | |
67 Neutral | $41.30B | 14.55 | 8.57% | 3.37% | 16.54% | -3.61% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | $5.07B | 33.41 | -15.36% | ― | 1.98% | -20.98% | |
53 Neutral | $36.13B | 206.19 | 4.52% | ― | 16.63% | -62.54% |
* Consumer Cyclical Sector Average
EBAY
eBay
95.40
30.25
46.43%
MELI
Mercadolibre
1,773.96
-263.16
-12.92%
JD
JD
28.93
-7.96
-21.58%
ETSY
Etsy
52.69
9.04
20.71%
SE
Sea
85.92
-32.81
-27.63%
CPNG
Coupang
19.76
-1.77
-8.22%
eBay Corporate Events
Business Operations and StrategyExecutive/Board Changes
eBay Adds Tech Marketplace Veteran to Strengthen Board
Positive
Mar 24, 2026
On March 19, 2026, eBay’s board expanded to 12 members and appointed technology veteran Brian H. Sharples as an independent director, effective March 20, 2026, with his term running until the 2026 annual shareholders’ meeting. Followin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.