Consumer Discretionary · Broadline Retail · US stock · price as of 16 Oct 2026
Key indicators
Price
$120.28
52-week range
$77.32 – $124.59
Market cap
$54.7B
P/E (trailing)
25.0×
EV / EBITDA
19.8×
Free-cash-flow yield
4.4%
Dividend yield
1.0%
Revenue (last 12 months)
$12.0B
Revenue growth (3y a year)
4.3%
Operating margin
20.5%
Return on invested capital
26.0%
Net debt / EBITDA
1.2×
Fair value
Blended fair value$113.75 range $107 – $120
Versus priceFair−5% to fair value
Peer multiples
$98.40
Fundamentals-adjusted multiple
$123.10
10-year DCF (market-scaled)
$119.77
Earnings power value (floor, not blended)
$55.64
Model uncertainty
Medium
X-Ray Score
44/ 100 · High confidence · ahead of 28% of sector peers
Valuation32
Growth48
Profitability51
Financial health50
Dividends39
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
eBay operates an online marketplace where individuals and businesses list items for others to purchase, either at a fixed cost or through auctions. Popular categories include collectibles, trading cards, vehicle parts, fashion and electronics, and the platform also provides payments, shipping tools and advertising services to its merchants. Shoppers in many countries use it to find new, used and refurbished goods.
The company earns revenue mainly from fees charged on completed transactions, plus advertising and other services for merchants. Over the last twelve months it reached $12.0 billion, growing at 4.3% a year across the last three years. The operating margin is 20.5%, and the business earns a profit of 26% on the capital invested in it. It carries net debt of 1.2 times EBITDA. The company pays a dividend with a yield of 1.0%.
StocksXray gives Ebay Inc an X-Ray Score of 44 out of 100 (high confidence), ahead of 28% of the S&P 500 stocks in its sector. Its strongest lens is profitability (51) and its weakest is valuation (32).
Our fair value blend is $113.75 (range $107.37 to $120.22). At $120.28 the stock trades 6% above that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Ebay Inc (EBAY)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$61.06
$38.79
$41.76
$60.46
$86.31
$120.28
Market cap
$40.5B
$21.6B
$22.3B
$30.3B
$40.4B
$54.7B
P/E
3.0×
–
8.0×
15.3×
19.9×
25.0×
EV / revenue
4.2×
2.7×
2.8×
3.4×
4.1×
4.9×
EV / EBITDA
12.8×
9.6×
12.1×
13.0×
16.8×
19.8×
Price / free cash flow
18.3×
12.0×
11.3×
15.5×
28.2×
22.5×
Free-cash-flow yield
5.5%
8.3%
8.9%
6.5%
3.6%
4.4%
Price / book
4.1×
4.2×
3.5×
5.9×
9.0×
11.7×
Dividend yield
–
–
–
–
–
1.01%
Fundamentals checklist ● 3 Good · ● 7 Average · ● 5 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.5%Average
Free-cash-flow yield4.4%Average
Risk models
Altman Z score8.6×Good
Piotroski F-Score5 of 9Bad
Growth
Free-cash-flow growth (3y)−7.4%Bad
Revenue growth (3y)4.3%Bad
Growth consistency100%Good
Balance sheet
Current ratio1.0×Average
Net debt / EBITDA1.2×Average
Interest cover9.9×Average
Valuation
Fair value vs price0.9×Bad
EBIT / EV yield4.2%Bad
Profitability
Return on invested capital26.0%Average
Operating margin20.5%Good
Gross profitability48.5%Average
XStocksXray
Ebay Inc (EBAY)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
10,420
9,795
10,112
10,283
11,100
12,008
Gross profit
7,770
7,115
7,279
7,403
7,931
8,704
Operating income
2,923
2,350
1,941
2,318
2,277
2,464
Net income
13,608
-1,269
2,767
1,975
2,031
2,222
Diluted EPS ($)
20.54
-2.27
5.19
3.94
4.34
4.81
Free cash flow
2,213
1,805
1,970
1,956
1,434
2,428
Gross margin
74.6%
72.6%
72.0%
72.0%
71.5%
72.5%
Operating margin
28.1%
24.0%
19.2%
22.5%
20.5%
20.5%
Net margin
130.6%
−13.0%
27.4%
19.2%
18.3%
18.5%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
26,626
20,850
21,620
19,365
17,437
17,933
Cash
1,379
2,154
1,985
2,433
1,867
2,310
Total debt
10,437
10,021
8,473
6,977
6,746
5,992
Equity
9,778
5,153
6,396
5,158
4,483
4,665
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.