EBAYNasdaqServices-Business Services, NECFiscal year ends December 31
EBAY INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$120.47+0.19 (+0.16%)
Close on Oct 19, 2026
- Market cap
- $54.81B
- P/E (TTM)
- 24.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
71.5%−8.3 pts over 5 years
Operating margin
20.5%−9.1 pts over 5 years
Net margin
18.3%−45.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.9% | +4.3% | +4.5% | +2.6% | |
| Gross profit | +7.1% | +3.7% | +2.2% | +1.5% | |
| Operating income | -1.8% | -1.0% | -2.9% | +0.4% | |
| Net income | +2.8% | – | -18.6% | +1.6% | |
| EPS, diluted | +10.2% | – | -11.3% | +11.8% | |
| Free cash flow | -26.7% | -7.4% | -6.0% | -8.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 85.0% | 176.2% | 42.1% | |
| Return on assets | 34.9% | 30.2% | 11.0% | |
| Current ratio | 2.31 | 1.80 | 1.10 | |
| Debt to equity | 0.99 | 2.18 | 1.50 | |
| Net debt to EBITDA | 2.93× | 2.04× | 1.81× | |
| Interest coverage | 10.3× | 8.7× | 9.3× | |
| Capex to revenue | 6.7% | 5.2% | 4.7% | |
| Diluted shares | 1.14B | 718M | 468M |
Where the cash went
Fiscal 2021 to 2025, five years combined
EBAY generated $11.71B from operations and spent $22.13B on capital expenditure, dividends and share buybacks. 11% of that went back into the business.
Generated
$11.71B
Used
$22.13B
Capital expenditure$2.33B11%Dividends$2.55B12%Share buybacks$17.25B78%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin18.3%
×Asset turnover0.60×
×Equity multiplier3.82×
=Return on equity, FY202542.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 18.3% | 0.60× | 3.82× | 42.1% |
| FY2024 | 19.2% | 0.50× | 3.55× | 34.2% |
| FY2023 | 27.4% | 0.48× | 3.68× | 47.9% |
| FY2022 | -13.0% | 0.41× | 3.18× | -17.0% |
| FY2021 | 130.6% | 0.45× | 3.44× | 204.0% |
| FY2020 | 63.7% | 0.47× | 5.83× | 176.2% |
| FY2019 | 24.0% | 0.36× | 4.48× | 39.0% |
| FY2018 | 29.2% | 0.35× | 3.41× | 35.3% |
| FY2017 | -10.2% | 0.40× | 2.68× | -11.0% |
| FY2016 | 78.1% | 0.45× | 2.43× | 85.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$2.03B
- Cash generatingOperating cash flow above zero$1.96B
- Return on assets improvedROA up on the prior year9.1% → 10.5%
- Earnings backed by cashOperating cash flow above net income$1.96B vs $2.03B
- Less leverageLong-term debt to assets fell29.7% → 34.4%
- Better liquidityCurrent ratio rose1.24 → 1.10
- No dilutionShare count did not rise501M → 468M
- Gross margin improvedGross margin up on the prior year71.99% → 71.45%
- More efficientAsset turnover rose0.48 → 0.57