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Ebay Inc. Financials

EBAY
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Ebay Inc. (EBAY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 61 / 100
Financial Profile 61/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
68

Ebay Inc. has an operating margin of 20.5%, meaning the company retains $21 of operating profit per $100 of revenue. This strong profitability earns a score of 68/100, reflecting efficient cost management and pricing power. This is down from 22.5% the prior year.

Growth
47

Ebay Inc.'s revenue grew 7.9% year-over-year to $11.1B, a solid pace of expansion. This earns a growth score of 47/100.

Leverage
76

Ebay Inc. carries a low D/E ratio of 1.30, meaning only $1.30 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 76/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
17

Ebay Inc.'s current ratio of 1.10 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 17/100, which could limit financial flexibility.

Cash Flow
57

Ebay Inc. has a free cash flow margin of 12.9%, earning a moderate score of 57/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
100

Ebay Inc. earns a strong 44.0% return on equity (ROE), meaning it generates $44 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 38.3% the prior year.

Altman Z-Score Safe
6.10

Ebay Inc. scores 6.10, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
5/9

Ebay Inc. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed
0.96x

For every $1 of reported earnings, Ebay Inc. generates $0.96 in operating cash flow ($2.0B OCF vs $2.0B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Safe
9.3x

Ebay Inc. earns $9.3 in operating income for every $1 of interest expense ($2.3B vs $246.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$11.1B
YoY+7.9%
5Y CAGR+4.5%
10Y CAGR+2.6%

Ebay Inc. generated $11.1B in revenue in fiscal year 2025. This represents an increase of 7.9% from the prior year.

EBITDA
$2.7B
YoY+0.4%
5Y CAGR-3.3%
10Y CAGR-0.4%

Ebay Inc.'s EBITDA was $2.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 0.4% from the prior year.

Net Income
$2.0B
YoY+2.8%
5Y CAGR-18.6%
10Y CAGR+1.6%

Ebay Inc. reported $2.0B in net income in fiscal year 2025. This represents an increase of 2.8% from the prior year.

EPS (Diluted)
$4.26
YoY+7.8%
5Y CAGR+4.2%
10Y CAGR+10.3%

Ebay Inc. earned $4.26 per diluted share (EPS) in fiscal year 2025. This represents an increase of 7.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$1.4B
YoY-26.7%
5Y CAGR-6.0%
10Y CAGR-8.2%

Ebay Inc. generated $1.4B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 26.7% from the prior year.

Cash & Debt
$1.9B
YoY-23.3%
5Y CAGR+11.1%
10Y CAGR+0.2%

Ebay Inc. held $1.9B in cash against $6.0B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
448M
YoY-4.9%
5Y CAGR-8.0%
10Y CAGR-9.2%

Ebay Inc. had 448M shares outstanding in fiscal year 2025. This represents a decrease of 4.9% from the prior year.

Margins & Returns

Gross Margin
71.5%
YoY-0.5pp
5Y CAGR-8.4pp
10Y CAGR-7.9pp

Ebay Inc.'s gross margin was 71.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.

Operating Margin
20.5%
YoY-2.0pp
5Y CAGR-9.1pp
10Y CAGR-5.1pp

Ebay Inc.'s operating margin was 20.5% in fiscal year 2025, reflecting core business profitability. This is down 2.0 percentage points from the prior year.

Net Margin
18.3%
YoY-0.9pp
5Y CAGR-45.4pp
10Y CAGR-1.8pp

Ebay Inc.'s net profit margin was 18.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.9 percentage points from the prior year.

Return on Equity
44.0%
YoY+5.7pp
5Y CAGR-115.1pp
10Y CAGR+17.8pp

Ebay Inc.'s ROE was 44.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 5.7 percentage points from the prior year.

Capital Allocation

R&D Spending
$1.6B
YoY+11.0%
5Y CAGR+9.8%
10Y CAGR+5.9%

Ebay Inc. invested $1.6B in research and development in fiscal year 2025. This represents an increase of 11.0% from the prior year.

Share Buybacks
$2.5B
YoY-20.6%
5Y CAGR-13.4%
10Y CAGR+1.5%

Ebay Inc. spent $2.5B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 20.6% from the prior year.

Capital Expenditures
$525.0M
YoY+14.6%
5Y CAGR+2.5%
10Y CAGR-2.4%

Ebay Inc. invested $525.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 14.6% from the prior year.

EBAY Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $3.0B+5.1% $2.8B+3.3% $2.7B+5.6% $2.6B+0.2% $2.6B+0.1% $2.6B+0.2% $2.6B+0.6% $2.6B
Cost of Revenue $849.0M+3.4% $821.0M+5.8% $776.0M+7.3% $723.0M+0.7% $718.0M-1.2% $727.0M-1.1% $735.0M+5.0% $700.0M
Gross Profit $2.1B+5.9% $2.0B+2.3% $2.0B+4.9% $1.9B+0.1% $1.9B+0.6% $1.8B+0.7% $1.8B-1.0% $1.9B
R&D Expenses $436.0M+3.1% $423.0M+0.5% $421.0M+16.3% $362.0M-3.5% $375.0M+0.3% $374.0M-1.3% $379.0M+8.0% $351.0M
SG&A Expenses $284.0M+0.7% $282.0M-24.0% $371.0M+42.1% $261.0M+8.3% $241.0M+24.2% $194.0M-19.5% $241.0M+1.3% $238.0M
Operating Income $601.0M+4.3% $576.0M+19.0% $484.0M-21.4% $616.0M+13.4% $543.0M-8.7% $595.0M+8.4% $549.0M-13.0% $631.0M
Interest Expense $61.0M-1.6% $62.0M0.0% $62.0M+1.6% $61.0M-6.2% $65.0M+3.2% $63.0M-3.1% $65.0M-1.5% $66.0M
Income Tax $98.0M+508.3% -$24.0M-122.2% $108.0M-16.3% $129.0M+304.8% -$63.0M-139.1% $161.0M+57.8% $102.0M+5.2% $97.0M
Net Income $528.0M-16.5% $632.0M+71.7% $368.0M-26.8% $503.0M-25.9% $679.0M+7.1% $634.0M+183.0% $224.0M-48.9% $438.0M
EPS (Diluted) N/A $1.28+62.0% $0.79-25.5% $1.06 N/A $1.29+186.7% $0.45-47.1% $0.85

EBAY Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $17.6B-1.0% $17.8B-0.9% $18.0B-5.2% $19.0B-2.1% $19.4B-2.8% $19.9B-2.3% $20.4B-4.9% $21.4B
Current Assets $5.1B-5.7% $5.4B-8.9% $5.9B-13.9% $6.9B-9.2% $7.6B+7.2% $7.1B-2.9% $7.3B-30.1% $10.4B
Cash & Equivalents $1.9B-22.9% $2.4B+17.1% $2.1B-31.7% $3.0B+24.6% $2.4B+53.1% $1.6B-19.1% $2.0B-7.8% $2.1B
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $135.0M+10.7% $122.0M+13.0% $108.0M0.0% $108.0M0.0% $108.0M-8.5% $118.0M+22.9% $96.0M+7.9% $89.0M
Goodwill $4.5B+2.1% $4.4B-0.2% $4.4B+0.7% $4.4B+2.1% $4.3B-1.2% $4.3B+0.8% $4.3B+1.2% $4.2B
Total Liabilities $13.0B-0.6% $13.1B-1.1% $13.2B-5.7% $14.0B-1.4% $14.2B-2.0% $14.5B-2.4% $14.9B-1.9% $15.1B
Current Liabilities $4.6B-20.5% $5.8B-1.8% $5.9B+1.0% $5.9B-3.6% $6.1B+8.1% $5.6B-2.8% $5.8B+10.8% $5.2B
Long-Term Debt $6.0B+19.8% $5.0B0.0% $5.0B-13.0% $5.8B0.0% $5.8B-6.9% $6.2B0.0% $6.2B0.0% $6.2B
Total Equity $4.6B-2.2% $4.7B-0.6% $4.7B-4.1% $5.0B-4.0% $5.2B-4.8% $5.4B-1.6% $5.5B-12.2% $6.3B
Retained Earnings $39.4B+1.0% $39.0B+1.3% $38.5B+0.6% $38.3B+1.0% $38.0B+1.5% $37.4B+1.3% $36.9B+0.3% $36.8B

EBAY Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $583.0M-34.9% $896.0M+391.9% -$307.0M-139.0% $787.0M+16.2% $677.0M-10.3% $755.0M+105.7% $367.0M-40.3% $615.0M
Capital Expenditures $117.0M-10.7% $131.0M-2.2% $134.0M-6.3% $143.0M+22.2% $117.0M+7.3% $109.0M+22.5% $89.0M-37.8% $143.0M
Free Cash Flow $466.0M-39.1% $765.0M+273.5% -$441.0M-168.5% $644.0M+15.0% $560.0M-13.3% $646.0M+132.4% $278.0M-41.1% $472.0M
Investing Cash Flow -$224.0M-184.5% $265.0M+295.5% $67.0M-94.9% $1.3B+4.0% $1.3B+2475.5% $49.0M-92.5% $652.0M+160.8% $250.0M
Financing Cash Flow -$823.0M+5.8% -$874.0M-22.1% -$716.0M+42.6% -$1.2B-25.8% -$992.0M+1.7% -$1.0B+9.8% -$1.1B-63.1% -$686.0M
Dividends Paid $131.0M-0.8% $132.0M-1.5% $134.0M0.0% $134.0M+4.7% $128.0M-2.3% $131.0M-3.0% $135.0M-2.9% $139.0M
Share Buybacks $635.0M+1.4% $626.0M+0.3% $624.0M+1.5% $615.0M-32.5% $911.0M+20.7% $755.0M-26.7% $1.0B+127.4% $453.0M

EBAY Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 71.4%+0.5pp 70.9%-0.7pp 71.6%-0.5pp 72.0%-0.1pp 72.2%+0.4pp 71.8%+0.4pp 71.4%-1.2pp 72.6%
Operating Margin 20.3%-0.2pp 20.4%+2.7pp 17.7%-6.1pp 23.8%+2.8pp 21.1%-2.1pp 23.1%+1.8pp 21.3%-3.3pp 24.7%
Net Margin 17.8%-4.6pp 22.4%+8.9pp 13.5%-6.0pp 19.5%-6.9pp 26.3%+1.7pp 24.6%+15.9pp 8.7%-8.4pp 17.1%
Return on Equity 11.4%-1.9pp 13.4%+5.6pp 7.8%-2.4pp 10.2%-3.0pp 13.2%+1.5pp 11.7%+7.6pp 4.1%-2.9pp 7.0%
Return on Assets 3.0%-0.5pp 3.5%+1.5pp 2.1%-0.6pp 2.6%-0.9pp 3.5%+0.3pp 3.2%+2.1pp 1.1%-1.0pp 2.1%
Current Ratio 1.10+0.2 0.92-0.1 1.00-0.2 1.17-0.1 1.24-0.0 1.250.0 1.25-0.7 1.99
Debt-to-Equity 1.30+0.2 1.060.0 1.05-0.1 1.16+0.0 1.12-0.0 1.14+0.0 1.12+0.1 0.98
FCF Margin 15.7%-11.4pp 27.1%+43.3pp -16.2%-41.1pp 24.9%+3.2pp 21.7%-3.4pp 25.1%+14.3pp 10.8%-7.7pp 18.5%

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Frequently Asked Questions

Ebay Inc. (EBAY) reported $11.1B in total revenue for fiscal year 2025. This represents a 7.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Ebay Inc. (EBAY) revenue grew by 7.9% year-over-year, from $10.3B to $11.1B in fiscal year 2025.

Yes, Ebay Inc. (EBAY) reported a net income of $2.0B in fiscal year 2025, with a net profit margin of 18.3%.

Ebay Inc. (EBAY) reported diluted earnings per share of $4.26 for fiscal year 2025. This represents a 7.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ebay Inc. (EBAY) had EBITDA of $2.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Ebay Inc. (EBAY) had $1.9B in cash and equivalents against $6.0B in long-term debt.

Ebay Inc. (EBAY) had a gross margin of 71.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Ebay Inc. (EBAY) had an operating margin of 20.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Ebay Inc. (EBAY) had a net profit margin of 18.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Ebay Inc. (EBAY) has a return on equity of 44.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Ebay Inc. (EBAY) generated $1.4B in free cash flow during fiscal year 2025. This represents a -26.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Ebay Inc. (EBAY) generated $2.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Ebay Inc. (EBAY) had $17.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Ebay Inc. (EBAY) invested $525.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Ebay Inc. (EBAY) invested $1.6B in research and development during fiscal year 2025.

Yes, Ebay Inc. (EBAY) spent $2.5B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Ebay Inc. (EBAY) had 448M shares outstanding as of fiscal year 2025.

Ebay Inc. (EBAY) had a current ratio of 1.10 as of fiscal year 2025, which is considered adequate.

Ebay Inc. (EBAY) had a debt-to-equity ratio of 1.30 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Ebay Inc. (EBAY) had a return on assets of 11.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Ebay Inc. (EBAY) has an Altman Z-Score of 6.10, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Ebay Inc. (EBAY) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Ebay Inc. (EBAY) has an earnings quality ratio of 0.96x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Ebay Inc. (EBAY) has an interest coverage ratio of 9.3x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Ebay Inc. (EBAY) scores 61 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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