eBay Inc. (EBAY) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.51	$1.6	+6.0%	—	$3.1B	—
Q1 26	$1.58	$1.66	+5.1%	—	$3.1B	—
Q4 25	$1.35	$1.41	+4.4%	—	$3B	—
Q3 25	$1.33	$1.36	+2.3%	—	$2.8B	—
Q2 25	$1.3	$1.37	+5.4%	—	$2.7B	—
Q1 25	$1.34	$1.38	+3.0%	—	$2.6B	—
Q4 24	$1.2	$1.25	+4.2%	—	$2.6B	—
Q3 24	$1.18	$1.19	+0.8%	—	$2.6B	—
Q2 24	$1.12	$1.18	+5.4%	—	$2.6B	—
Q1 24	$1.2	$1.25	+4.2%	—	$2.6B	—
Q4 23	$1.03	$1.07	+3.9%	—	$2.6B	—
Q3 23	$1	$1.03	+3.0%	—	$2.5B	—
Q2 23	$1	$1.03	+3.0%	—	$2.5B	—
Q1 23	$1.07	$1.11	+3.7%	—	$2.5B	—
Q4 22	$1.06	$1.07	+0.9%	—	$2.5B	—
Q3 22	$0.93	$1	+7.5%	—	$2.4B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.43	—	—	$11.1B	—
FY24	—	$3.99	—	—	$10.3B	—
FY23	—	$5.22	—	—	$10.1B	—
FY22	—	-$2.27	—	—	$9.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$9.3B	$9.9B	$8.7B	$7.4B	$8.9B	$10.4B	$9.8B	$10.1B	$10.3B	$11.1B
YoY change	+8.22%	+6.76%	-12.9%	-14.1%	+19.7%	+17.2%	-6%	+3.24%	+1.69%	+7.95%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	9.3B	9.9B	8.7B	7.4B	8.9B	10.4B	9.8B	10.1B	10.3B	11.1B
Cost of revenue	2B	2.2B	2B	1.6B	1.8B	2.6B	2.7B	2.8B	2.9B	3.2B
Gross profit	7.3B	7.7B	6.6B	5.8B	7.1B	7.8B	7.1B	7.3B	7.4B	7.9B
Gross margin	78.4%	77.6%	76.6%	78.7%	79.8%	74.6%	72.6%	72%	72%	71.5%
Research & development	1.1B	1.2B	1.1B	930M	1B	1.3B	1.3B	1.5B	1.5B	1.6B
Selling, general & administrative	3.6B	3.9B	3.6B	2.9B	3.1B	3.1B	3.1B	3.4B	3.2B	3.6B
Operating expenses	4.9B	5.4B	4.9B	4B	4.4B	4.8B	4.8B	5.3B	5.1B	5.6B
Operating income	2.3B	2.3B	1.8B	1.8B	2.6B	2.9B	2.4B	1.9B	2.3B	2.3B
Operating margin	25%	22.8%	20.3%	23.8%	29.6%	28.1%	24%	19.2%	22.5%	20.5%
Non-operating income, net	1.4B	126M	663M	81M	975M	-2.3B	-3.8B	1.8B	-53M	11M
Pretax income	3.7B	2.3B	2.2B	1.7B	3.3B	398M	-1.6B	3.7B	2.3B	2.3B
Income tax	-3.6B	3.3B	121M	219M	858M	146M	-327M	932M	297M	311M
Net income	7.3B	-1B	2.5B	1.8B	5.7B	13.6B	-1.3B	2.8B	2B	2B
Net margin	78.1%	-10.2%	29.2%	24%	63.7%	130.6%	-13%	27.4%	19.2%	18.3%
EBITDA	3.2B	3.1B	2.6B	2.5B	3.3B	3.4B	2.9B	2.5B	2.9B	2.9B
EPS	6.41	-0.95	2.58	2.1	7.98	20.9	-2.27	5.22	3.99	4.43
Diluted EPS	6.35	-0.95	2.55	2.09	7.89	20.5	-2.27	5.19	3.94	4.34

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.5B	2.6B	2.6B	2.6B	2.6B	2.6B	2.6B	2.7B	2.8B	3B	3.1B	3.1B
Cost of revenue	705M	710M	700M	735M	727M	718M	723M	776M	821M	849M	802M	832M
Gross profit	1.8B	1.9B	1.9B	1.8B	1.8B	1.9B	1.9B	2B	2B	2.1B	2.3B	2.3B
Gross margin	71.8%	72.3%	72.6%	71.4%	71.8%	72.2%	72%	71.6%	70.9%	71.4%	74%	73.5%
Research & development	401M	399M	351M	379M	374M	375M	362M	421M	423M	436M	450M	484M
Selling, general & administrative	850M	938M	779M	818M	786M	850M	797M	957M	888M	950M	1.1B	1B
Operating expenses	1.3B	1.4B	1.2B	1.3B	1.2B	1.3B	1.2B	1.5B	1.4B	1.5B	1.7B	1.6B
Operating income	455M	410M	631M	549M	595M	543M	616M	484M	576M	601M	611M	676M
Operating margin	18.2%	16%	24.7%	21.3%	23.1%	21.1%	23.8%	17.7%	20.4%	20.3%	19.8%	21.6%
Non-operating income, net	1.2B	629M	-90M	-219M	193M	63M	2M	-9M	-6M	24M	10M	-4M
Pretax income	1.7B	1B	536M	328M	797M	617M	634M	477M	573M	623M	618M	665M
Income tax	355M	303M	97M	102M	161M	-63M	129M	108M	-24M	98M	106M	113M
Net income	1.3B	724M	438M	224M	634M	679M	503M	368M	632M	528M	512M	550M
Net margin	52.2%	28.3%	17.1%	8.71%	24.6%	26.3%	19.5%	13.5%	22.4%	17.8%	16.6%	17.5%
EBITDA	610M	712M	768M	689M	759M	698M	772M	682M	802M	775M	762M	835M
EPS	2.47	1.4	0.85	0.45	1.31	1.43	1.08	0.8	1.39	1.17	1.14	1.24
Diluted EPS	2.46	1.39	0.85	0.45	1.29	1.4	1.06	0.79	1.35	1.15	1.12	1.21

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	33.6B	40.2B	27.5B	—	—	43.4B	—	23.1B	30.7B	40B	47.8B
Enterprise value	35.4B	44.3B	31.8B	—	—	45.5B	—	22.3B	32.7B	44.2B	51.8B
Shares outstanding	1.1B	1.1B	980M	849M	710M	652M	558M	530M	496M	459M	459M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	4.63	—	10.9	—	—	3.19	—	8.36	15.6	19.7	22.8
P/S	3.62	4.05	3.18	—	—	4.16	—	2.29	2.99	3.6	4.02
P/B	3.19	4.99	4.38	—	—	4.43	—	3.61	5.96	8.66	10.4
EV/EBITDA	11	14.2	12.4	—	—	13.2	—	8.76	11.2	15	16.7
EV/Sales	3.81	4.46	3.68	—	—	4.36	—	2.21	3.18	3.99	4.32
Earnings yield	21.6%	—	9.2%	—	—	31.4%	—	12%	6.43%	5.08%	4.38%
FCF yield	6.54%	6.18%	7.4%	—	—	5.1%	—	8.52%	6.37%	3.59%	3.31%
PEG	—	—	—	—	—	—	—	—	—	—	0.41

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	78.4%	77.6%	76.6%	78.7%	79.8%	74.6%	72.6%	72%	72%	71.5%	73.5%
Operating margin	25%	22.8%	20.3%	23.8%	29.6%	28.1%	24%	19.2%	22.5%	20.5%	21.6%
Net margin	78.1%	-10.2%	29.2%	24%	63.7%	130.6%	-13%	27.4%	19.2%	18.3%	18.6%
ROE	68.9%	-12.6%	40.3%	62.2%	159.1%	139.2%	-24.6%	43.3%	38.3%	44%	46.6%
ROA	30.5%	-3.91%	11.1%	9.83%	29.3%	51.1%	-6.09%	12.8%	10.2%	11.5%	9.15%
ROIC	18.8%	0%	15.6%	18.4%	23.7%	15.6%	33.1%	25.9%	28.3%	22.2%	25.6%
Return on tangible assets	49.6%	-6.24%	20.5%	19.8%	52.9%	74.5%	-10.3%	21.1%	18.2%	23.4%	24.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.31	2.18	1.6	1.16	1.8	1.97	2.18	2.44	1.24	1.1	1.02
Quick ratio	2.31	2.18	1.6	1.16	1.8	1.97	2.18	2.44	1.24	1.1	1.02
Debt / equity	0.85	1.24	1.47	2.86	2.3	0.96	1.83	1.29	1.52	1.56	1.53
Debt / assets	0.38	0.39	0.4	0.45	0.42	0.35	0.45	0.38	0.41	0.41	0.4
Net debt / EBITDA	0.56	1.33	1.68	2.2	1.45	0.61	0.68	-0.31	0.68	1.44	1.2
Interest coverage	17.2	8.79	7.58	6.31	12	2.48	-5.81	15.1	9.8	10.4	11
Effective tax rate	0%	100%	5.38%	13.3%	25.7%	36.7%	0%	25.1%	13%	13.5%	11.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	8.21	9.33	8.83	8.75	12.5	16	17.6	19.1	20.7	24.2	26.7
EPS (basic)	6.41	-0.95	2.58	2.1	7.98	20.9	-2.27	5.22	3.99	4.43	4.43
EPS (diluted)	6.35	-0.95	2.55	2.09	7.89	20.5	-2.27	5.19	3.94	4.34	4.76
Book value per share	9.3	7.56	6.41	3.38	5.02	15	9.23	12.1	10.4	10.1	10.5
FCF per share	1.94	2.33	2.08	3.07	2.75	3.39	3.23	3.72	3.94	3.12	5.34
Cash per share	6.31	5.51	5.02	3.24	4.92	11.2	13.4	17	11.9	6.36	7.43
Capex per share	0.55	0.63	0.64	0.6	0.65	0.68	0.8	0.86	0.92	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	6.73%	6.71%	7.2%	6.84%	5.21%	4.26%	4.58%	4.51%	4.45%	—	—
Capex / operating cash flow	16.2%	42.1%	20.3%	22.3%	174.7%	-3.64%	-40.5%	10.9%	21.7%	—	—
Payout ratio	—	—	0%	26.5%	7.89%	3.42%	-38.5%	19.1%	27%	26.1%	25.2%
Dividend yield	—	—	0%	—	—	1.07%	—	2.28%	1.73%	1.33%	1.16%

Yield

1.16%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.31

ex-dividend Aug 28, 2026

Payout ratio

25%

of earnings

Dividend growth

6 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 28, 2026	$0.31
May 29, 2026	$0.31
Mar 6, 2026	$0.31
Nov 28, 2025	$0.29
Aug 29, 2025	$0.29
May 30, 2025	$0.29
Mar 14, 2025	$0.29
Nov 29, 2024	$0.27

Split history

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.5B	$2.6B	$2.6B	$2.6B	$2.6B	$2.6B	$2.6B	$2.7B	$2.8B	$3B	$3.1B	$3.1B
YoY change	+5.04%	+2.07%	+1.83%	+1.26%	+3.04%	+0.66%	+1.13%	+6.14%	+9.47%	+15%	+19.5%	+14.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	7.1B	5.9B	4.9B	2.8B	3.5B	7.3B	7.5B	9B	5.9B	2.9B
Receivables	592M	696M	712M	555M	362M	98M	90M	94M	871M	1.2B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	8.9B	7.7B	7.1B	4.7B	7.2B	9.1B	9.3B	11B	7.6B	5.1B
Property, plant & equipment	1.5B	1.6B	1.6B	2B	1.7B	1.5B	1.8B	1.7B	1.7B	1.8B
Goodwill & intangibles	9.2B	9.7B	10.5B	9.1B	8.6B	8.4B	8.5B	8.5B	8.5B	8.9B
Total assets	23.8B	26B	22.8B	18.2B	19.3B	26.6B	20.9B	21.6B	19.4B	17.6B
Accounts payable	283M	330M	286M	229M	278M	262M	261M	267M	257M	242M
Short-term debt	1.5B	781M	1.5B	1B	159M	1.5B	1.3B	868M	1.8B	869M
Total current liabilities	3.8B	3.6B	4.5B	4.1B	4B	4.6B	4.3B	4.5B	6.1B	4.6B
Long-term debt	7.5B	9.2B	7.7B	7.2B	8B	7.9B	8.1B	7.4B	6.1B	6.3B
Total liabilities	13.3B	17.9B	16.5B	15.3B	15.7B	16.8B	15.7B	15.2B	14.2B	13B
Shareholders' equity	10.5B	8B	6.3B	2.9B	3.6B	9.8B	5.2B	6.4B	5.2B	4.6B
Total debt	9B	10B	9.2B	8.2B	8.2B	9.4B	9.4B	8.2B	7.9B	7.2B
Net debt	7.1B	7.9B	7B	7.3B	7.1B	8.1B	7.3B	6.2B	5.4B	5.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	8.7B	9B	8.1B	5.2B	4.9B	5.9B	4.8B	3.8B	3.4B	2.9B	3.9B	3.3B
Receivables	504M	94M	537M	574M	797M	871M	1.1B	1.1B	1.1B	1.2B	1.3B	1.4B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	10.3B	11B	10.4B	7.3B	7.1B	7.6B	6.9B	5.9B	5.4B	5.1B	6.3B	6B
Property, plant & equipment	1.6B	1.7B	1.8B	1.7B	1.7B	1.7B	1.7B	1.7B	1.7B	1.8B	1.6B	1.7B
Goodwill & intangibles	8.5B	8.5B	8.5B	8.6B	8.6B	8.5B	8.7B	8.8B	8.8B	8.9B	8.9B	8.9B
Total assets	21.2B	21.6B	21.4B	20.4B	19.9B	19.4B	19B	18B	17.8B	17.6B	17.9B	17.9B
Accounts payable	303M	267M	300M	319M	283M	257M	292M	336M	308M	242M	311M	353M
Short-term debt	864M	868M	1.7B	1.7B	1.4B	1.8B	1.1B	1.9B	1.9B	869M	876M	1.7B
Total current liabilities	4.8B	4.5B	5.2B	5.8B	5.6B	6.1B	5.9B	5.9B	5.8B	4.6B	5.1B	5.9B
Long-term debt	7.3B	7.4B	6.5B	6.5B	6.5B	6.1B	6.1B	5.3B	5.3B	6.3B	6.3B	5.4B
Total liabilities	15.3B	15.2B	15.1B	14.9B	14.5B	14.2B	14B	13.2B	13.1B	13B	13.5B	13.3B
Shareholders' equity	5.9B	6.4B	6.3B	5.5B	5.4B	5.2B	5B	4.7B	4.7B	4.6B	4.4B	4.7B
Total debt	8.2B	8.2B	8.2B	8.2B	7.9B	7.9B	7.2B	7.2B	7.1B	7.2B	7.2B	7.1B
Net debt	5.6B	6.2B	6.1B	6.2B	6.3B	5.4B	4.1B	5.1B	4.7B	5.3B	4.3B	4.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	7.3B	-1B	2.1B	1.4B	2.5B	252M	-1.3B	2.8B	2B	2B
Depreciation & amortization	682M	676M	635M	600M	583M	502M	442M	403M	324M	407M
Stock-based compensation	416M	483M	465M	415M	417M	477M	494M	575M	588M	607M
Change in working capital	45M	-297M	-78M	176M	-456M	611M	13M	170M	96M	-109M
Operating cash flow	3.9B	1.6B	3.1B	2.3B	265M	-12.2B	-1.1B	4.2B	2.1B	2B
Capital expenditure	-626M	-666M	-623M	-508M	-463M	-444M	-449M	-456M	-458M	—
Investing cash flow	-2B	-1.3B	2.9B	2.9B	-179M	-1.4B	2.5B	240M	2.2B	1.7B
Dividends paid	—	—	0	-473M	-447M	-466M	-489M	-528M	-533M	-531M
Share repurchases	-2.9B	-2.7B	-4.5B	-5B	-5.1B	-7.1B	-3.1B	-1.4B	-3.1B	-2.5B
Financing cash flow	-744M	-1.8B	-5.4B	-7.1B	-5.7B	-6.6B	-3.8B	-2.5B	-3.8B	-6.1B
Net change in cash	1.1B	-1.5B	589M	-1.9B	-5.6B	-20.2B	-2.4B	2B	522M	-2.4B
Free cash flow	2.2B	2.5B	2B	2.6B	2B	2.2B	1.8B	2B	2B	1.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.3B	728M	439M	226M	636M	680M	505M	373M	605M	525M	512M	552M
Depreciation & amortization	97M	98M	76M	77M	92M	79M	79M	134M	161M	115M	93M	101M
Stock-based compensation	144M	149M	146M	154M	146M	142M	136M	165M	147M	159M	156M	182M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	1.7B	1.1B	701M	-106M	863M	561M	751M	-275M	961M	583M	969M	523M
Capital expenditure	-85M	-126M	-143M	-89M	-109M	-117M	-143M	—	—	—	—	—
Investing cash flow	96M	-280M	250M	650M	49M	1.3B	1.3B	68M	394M	-203M	661M	-333M
Dividends paid	-132M	-129M	-139M	-135M	-131M	-128M	-134M	-134M	-132M	-131M	-139M	-138M
Share repurchases	-626M	-283M	-453M	-1B	-755M	-911M	-615M	-624M	-626M	-635M	-486M	-323M
Financing cash flow	-613M	-379M	-686M	-1.2B	-1B	-992M	-1.7B	-1.1B	-1.5B	-2.8B	-561M	-464M
Net change in cash	1.2B	476M	265M	-630M	-97M	831M	374M	-1.3B	-147M	-2.4B	1.1B	-274M
Free cash flow	777M	-4M	472M	278M	646M	560M	644M	-441M	765M	466M	897M	300M

Jul 20, 2015	2376:1000
Feb 17, 2005	2:1
Aug 29, 2003	2:1
May 25, 2000	2:1
Mar 2, 1999	3:1

eBay Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement