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eBay
(NASDAQ:EBAY)
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Rating:72Outperform
Price Target:
$123.00
▲(12.44% Upside)
Action:Reiterated
Date:08/06/26
EBAY scores well primarily on solid underlying financial performance (strong margins and free-cash-flow generation) and a positive earnings-call outlook with raised guidance despite near-term Depop dilution. Offsetting factors are moderate leverage and only neutral technical momentum, while valuation appears fair-to-somewhat demanding given the modest dividend yield.
Positive Factors
Robust cash generation
Consistent high operating cash flow and strong TTM free-cash-flow growth provide durable internal funding for buybacks, dividends and strategic investments. This reduces reliance on external financing, supports capital returns and gives flexibility to invest in product and supply-side initiatives over multi-year horizons.
Negative Factors
Meaningful leverage on balance sheet
Material debt levels limit financial flexibility and raise sensitivity to profit or cash-flow shocks. Even with improving cash generation, interest expense and scheduled maturities constrain optionality for M&A or buybacks if operating momentum weakens, making balance-sheet risk a durable oversight item.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust cash generation
Consistent high operating cash flow and strong TTM free-cash-flow growth provide durable internal funding for buybacks, dividends and strategic investments. This reduces reliance on external financing, supports capital returns and gives flexibility to invest in product and supply-side initiatives over multi-year horizons.
Read all positive factors
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 (EBAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$45.90B
Dividend Yield1.19%
Average Volume (3M)3.32M
Price to Earnings (P/E)20.4
Beta (1Y)0.55
Revenue Growth15.18%
EPS Growth7.28%
CountryUS
Employees12,300
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)4.94
Shares Outstanding445,000,000
10 Day Avg. Volume3,896,658
30 Day Avg. Volume3,322,932
Financial Highlights & Ratios
PEG Ratio1.70
Price to Book (P/B)8.51
Price to Sales (P/S)3.54
P/FCF Ratio23.65
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$120.21Price Target Upside9.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering22
EPS Forecast (FY)6.13
Revenue Forecast (FY)$12.48B
eBay Business Overview & Revenue Model
Company Description
eBay Inc. manages an extensive global e-commerce ecosystem designed to facilitate transactions between buyers and sellers. This framework primarily encompasses its flagship website, ebay.com, alongside its suite of dedicated mobile applications. T...
How the Company Makes Money
eBay primarily makes money by charging fees to facilitate commerce on its marketplace. The largest revenue stream is transaction-based fees paid by sellers, which include final value fees that are typically assessed as a percentage of the total sa...
eBay Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call conveys a strongly positive operational and financial performance: top-line outperformance (GMV and revenue +14%), healthy margin and EPS expansion (+16% OI, +17% non-GAAP EPS), broad-based momentum across strategic priorities (focused categories, C2C, recommerce, Live, Vehicles) and clear product/AI-driven levers. Near-term challenges include international softness, lapping dynamics, and Depop-related dilution to margins in 2026, but management provided constructive guidance (raised full-year outlook) and a path to accretion by 2028. Overall, the highlights materially outweigh the lowlights.Positive Updates
Strong Top-Line Growth
Gross merchandise volume (GMV) grew 14% year-over-year to $22.4 billion and revenue grew 14% to $3.13 billion in Q2 2026, both exceeding consensus and the high end of guidance ranges.
Negative Updates
International Growth Moderation
International GMV growth slowed to 4% year-over-year (FX-neutral) in Q2, with Germany facing near-term pressure as investments shift toward strategic categories and a challenging macro backdrop.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Top-Line Growth
Gross merchandise volume (GMV) grew 14% year-over-year to $22.4 billion and revenue grew 14% to $3.13 billion in Q2 2026, both exceeding consensus and the high end of guidance ranges.
Read all positive updates
Company Guidance
For Q3 management guided consolidated GMV of $22.0–$22.4 billion (FX‑neutral growth 10–12% year‑over‑year; organic 7–9%), with Depop contributing ~2.5 percentage points in a partial quarter; revenue of $3.07–$3.12 billion (FX‑neutral growth 8–10%; organic ~7–9%), with ~1.5 points from Depop and planned shipping investments recognized largely as contra revenue. They expect non‑GAAP operating income to grow 1–5% (implying a non‑GAAP operating margin of 25.1–25.6%), noting a 3–4 point headwind to operating income growth from Depop, and forecast non‑GAAP EPS of $1.36–$1.42 (1–5% growth) with a mid‑single‑digit EPS headwind from Depop (partly due to foregone interest). For the full year they now plan FX‑neutral GMV growth of 11.5–12.5% (Depop ~1.5 pts), revenue growth roughly 11–12% (about 0.5 point below GMV; Depop ~1 ppt), non‑GAAP operating income growth of 10–12% (Depop ~2 ppt headwind) and non‑GAAP EPS growth of 10–12% (Depop ~2.5 ppt dilution), with a 17.5% non‑GAAP tax rate, capex of 4–5% of revenue, a ~$2 billion share‑repurchase target for the year (with an increased quarterly repurchase pace) and a Q3 cash dividend of $0.31 per share.eBay Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
81
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.01B | 11.10B | 10.28B | 10.11B | 9.79B | 10.42B |
| Gross Profit | 8.70B | 7.93B | 7.40B | 7.28B | 7.12B | 7.77B |
| EBITDA | 3.03B | 2.85B | 2.86B | 4.37B | -924.00M | 1.17B |
| Net Income | 2.22B | 2.03B | 1.98B | 2.77B | -1.27B | 13.61B |
Balance Sheet | ||||||
| Total Assets | 17.93B | 17.61B | 19.36B | 21.62B | 20.85B | 26.63B |
| Cash, Cash Equivalents and Short-Term Investments | 3.31B | 2.92B | 6.22B | 9.02B | 7.51B | 7.32B |
| Total Debt | 7.13B | 7.38B | 7.86B | 8.23B | 9.42B | 9.43B |
| Total Liabilities | 13.27B | 12.99B | 14.21B | 15.22B | 15.70B | 16.85B |
| Stockholders Equity | 4.67B | 4.62B | 5.16B | 6.40B | 5.15B | 9.78B |
Cash Flow | ||||||
| Free Cash Flow | 2.43B | 1.66B | 1.96B | 1.97B | 1.80B | 2.21B |
| Operating Cash Flow | 2.97B | 2.19B | 2.41B | 2.43B | 2.25B | 2.66B |
| Investing Cash Flow | 246.00M | 1.19B | 2.21B | 240.00M | 2.46B | 3.66B |
| Financing Cash Flow | -2.72B | -3.66B | -3.81B | -2.45B | -3.79B | -6.53B |
eBay Technical Analysis
Negative
109.39
Price Trends
110.40
Negative
107.21
Negative
96.93
Positive
Market Momentum
-2.34
Positive
35.83
Neutral
10.93
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EBAY, the sentiment is Negative. The current price of 109.39 is below the 20-day moving average (MA) of 109.54, below the 50-day MA of 110.40, and above the 200-day MA of 96.93, indicating a neutral trend. The MACD of -2.34 indicates Positive momentum. The RSI at 35.83 is Neutral, neither overbought nor oversold. The STOCH value of 10.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EBAY.
eBay Risk Analysis
eBay disclosed 30 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $74.69B | 44.08 | 13.51% | ― | 43.06% | 32.91% | |
72 Outperform | $45.90B | 20.43 | 48.28% | 1.10% | 15.18% | 7.28% | |
71 Outperform | $93.51B | 48.64 | 26.54% | ― | 46.01% | -9.25% | |
66 Neutral | $38.29B | 18.00 | 6.15% | 3.31% | 7.23% | -57.76% | |
66 Neutral | $7.33B | 36.99 | -17.67% | ― | 0.73% | 44.07% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $28.98B | -36.20 | -18.84% | ― | 9.92% | -309.73% |
* Consumer Cyclical Sector Average
EBAY
eBay
100.94
3.17
3.24%
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JD
JD
28.50
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ETSY
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78.41
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20.71%
SE
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119.45
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-32.62%
CPNG
Coupang
15.72
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-45.76%
eBay Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
eBay Shareholders Back Board, Auditor and Executive Pay
Positive
Jun 18, 2026
At its 2026 Annual Meeting of Stockholders held on June 17, 2026, eBay shareholders elected all 11 director nominees to serve on the board until the 2027 Annual Meeting and ratified PricewaterhouseCoopers LLP as the company’s independent aud...
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
eBay Board Reviews GameStop’s Acquisition Proposal and Financing
Neutral
May 12, 2026
eBay disclosed that an unsolicited, non-binding acquisition proposal was submitted by GameStop Corp. on May 3, 2026, accompanied by a May 1, 2026 highly confident letter from TD Securities (USA) LLC about potential financing. The TD Securities let...
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.