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Global online marketplace connecting buyers and sellers, known for auctions, collectibles and used/refurbished goods.
Global online marketplace connecting buyers and sellers, known for auctions, collectibles and used/refurbished goods.
Takes a cut of each sale from sellers, plus fees for listing options and for the advertising sellers buy to rank higher in search; since taking over payments from PayPal it also earns processing income. It sells nothing itself. It exited PayPal in 2015, StubHub in 2020 and classifieds and Korea in 2021, leaving a pure marketplace.
Moat: narrow (network effects, brand, installed base). Long-established buyer/seller base and trust systems (feedback, authentication) sustain a loyal niche.
Headquarters: San Jose, California, US · Founded: 1995 · Employees: 12,300
Size eBay (EBAY) is a United States Consumer Discretionary company (Internet Retail) with a market value of $53.5B, the 239th largest of 3,117 United States companies the cockpit tracks. Shares closed at $121.96 on 6 Nov 2026.
Performance Over six months the shares gained 13.6%, against +7.8% for the median peer and -1.1% for the United States market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 15.3% over the last twelve months (peer median +11.1%); the operating margin is 21.2% (peer median 7.3%).
Valuation It trades at 18.4× forward earnings against a peer median of 21.0× (6th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 11.5 points above its cost of capital (10.6% WACC).
Credit eBay has 9 bonds outstanding ($6.03B), rated BBB+ by the agencies and trading like BBB+ at a weighted spread of 80 bp.
Short interest Short interest is 3.5% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $12.4B | $11.1B | $10.3B | $10.1B | $9.65B |
| Revenue growth | — | +8% | +3% | +4% | — |
| Gross profit | $9.05B | $7.96B | $7.45B | $7.21B | $6.98B |
| EBITDA | $3.07B | $2.68B | $2.65B | $2.44B | $2.67B |
| Net income | $2.09B | $2.03B | $1.98B | $2.77B | -$1.27B |
| Free cash flow | $2.61B | $1.66B | $1.96B | $1.97B | $1.80B |
| Capital expenditure | $538M | $525M | $458M | $456M | $449M |
| Total debt | $7.19B | $7.18B | $7.86B | $8.23B | $9.42B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| eBay EBAY | $53.5B | +14% | +15% | 21% | 18.4× | 15.4% |
| Amazon AMZN | $2.80T | -5% | +15% | 13% | 26.3× | n/a |
| Etsy ETSY | $7.75B | +40% | +1% | 18% | 19.7× | 12.8% |
| Mercari 4385.T | $3.76B | -5% | +19% | 19% | 15.6× | n/a |
| Meta Platforms META | $1.56T | 0% | +28% | 33% | 19.0× | 16.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | EBAY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.9% | +3.5% | 7th highest of 21 |
| 6-month return | +13.6% | +7.8% | 10th highest of 21 |
| Distance from 52-week high | -4.5% | -20.9% | 2nd highest of 21 |
| Revenue growth (TTM) | +15.3% | +11.1% | 10th highest of 21 |
| Operating margin | 21.2% | 7.3% | 4th highest of 21 |
| Forward P/E | 18.4× | 21.0× | 6th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 15.4% | 11.7% | 4th most demanding of 14 |
| Growth delivered (Del g) | +4.6% | +11.1% | 2nd lowest of 14 |
| Hurdle (Req g minus delivered) | +10.8 pp | -9.5 pp | most demanding of 14 |
| ROIC minus cost of capital | +11.5 pp | +7.3 pp | 8th highest of 18 |
| EV / EBITDA | 19.1× | 14.5× | 6th most expensive of 14 |
| Net debt / EBITDA | 1.6× | -0.1× | 3rd most indebted of 17 |
| Bond spread | 80 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| eBay EBAY | United States | $53.5B | +14% | +15% | 21% | 18.4× | 15.4% | +4.6% |
| Sea Limited Sponsored ADR SE | United States | $49.1B | -13% | +43% | 8% | 18.0× | 11.7% | +39.3% |
| MercadoLibre MELI | United States | $76.6B | -8% | +46% | 8% | 32.0× | 11.9% | +48.7% |
| Jd-sw 9618.HK | Hong Kong | $34.8B | -5% | +8% | 0% | 9.2× | 14.4% | +11.1% |
| Coupang CPNG | United States | $29.2B | -4% | +7% | -3% | 55.9× | n/a | n/a |
| Baba-w 9988.HK | Hong Kong | $266B | -25% | +8% | 4% | 16.4× | n/a | n/a |
| FSN E-Commerce Ventures NYKAA.NS | India | $10.7B | +31% | +28% | 5% | 209.2× | n/a | n/a |
| Chewy CHWY | United States | $9.07B | -2% | +6% | 3% | 24.1× | 16.8% | +12.0% |
| Rakuten 4755.T | Japan | $8.59B | -18% | +11% | 6% | n/a | -2.0% | +11.4% |
| Etsy ETSY | United States | $7.75B | +40% | +1% | 18% | 19.7× | 12.8% | +10.8% |
| Zalando ZAL.DE | Germany | $7.64B | +42% | +18% | 4% | 19.6× | 7.6% | +9.1% |
| Global-e Online GLBE | United States | $7.22B | +44% | +31% | 14% | 30.9× | 23.4% | +47.8% |
| Vipshop Holdings Ltd Sponsored ADR VIPS | United States | $6.55B | -4% | +2% | 7% | 5.4× | -20.3% | 0.0% |
| Zozo 3092.T | Japan | $6.41B | +8% | +6% | 30% | 19.6× | -5.0% | +9.2% |
| USS 4732.T | Japan | $5.34B | +8% | +11% | 52% | 18.7× | -0.8% | +8.7% |
| Mercari 4385.T | Japan | $3.76B | -5% | +19% | 19% | 15.6× | n/a | n/a |
| Xingyun Technology 300209.SZ | China | $3.15B | +30% | +978% | 23% | n/a | n/a | n/a |
| Global Industrial GIC | United States | $1.77B | +59% | +10% | 8% | 22.4× | 1.3% | +6.0% |
| RealReal REAL | United States | $1.61B | +25% | +18% | 0% | 47.8× | n/a | n/a |
| LuxExperience B.V. Sponsored ADR LUXE | United States | $1.40B | +20% | +111% | -6% | 194.0× | n/a | n/a |
| Liquidity Services LQDT | United States | $1.37B | +21% | +5% | 9% | 24.8× | 16.2% | +18.3% |
eBay has 9 bonds outstanding with $6.03B face value. The agencies rate it BBB+; its bonds trade like BBB+. Weighted yield 5.59%, a spread of 80 bp over government bonds.