eBay (EBAY) Financials

$92.46 -0.56 (-0.60%)

Closing price 04:00 PM Eastern

Extended Trading

$92.01 -0.45 (-0.49%)

As of 04:44 PM Eastern

Annual Income Statements for eBay

This table shows eBay's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	46	1,725	7,266	-1,017	2,530	1,786	5,667	13,608	-1,269	2,767	1,975
Consolidated Net Income / (Loss)	46	1,725	7,266	-1,017	2,530	1,786	5,667	13,608	-1,269	2,767	1,975
Net Income / (Loss) Continuing Operations	-865	1,947	7,285	-1,013	2,128	1,433	2,487	252	-1,274	2,775	1,981
Total Pre-Tax Income	2,515	2,406	3,651	2,275	2,249	1,652	3,345	398	-1,601	3,707	2,278
Total Operating Income	2,476	2,197	2,325	2,264	1,752	1,770	2,636	2,923	2,350	1,941	2,318
Total Gross Profit	7,127	6,821	7,294	7,434	6,627	5,844	7,097	7,770	7,115	7,279	7,403
Total Revenue	8,790	8,592	9,298	9,927	8,650	7,429	8,894	10,420	9,795	10,112	10,283
Operating Revenue	8,790	8,592	9,298	9,927	8,650	7,429	8,894	10,420	9,795	10,112	10,283
Total Cost of Revenue	1,663	1,771	2,004	2,493	2,023	1,585	1,797	2,650	2,680	2,833	2,880
Operating Cost of Revenue	1,663	1,771	2,004	2,221	2,023	1,585	1,797	2,650	2,680	2,833	2,880
Total Operating Expenses	4,651	4,624	4,969	5,170	4,875	4,074	4,461	4,847	4,765	5,338	5,085
Selling, General & Admin Expense	889	1,122	899	1,030	979	988	985	921	963	1,196	914
Marketing Expense	2,442	2,267	2,691	2,878	2,576	1,866	2,091	2,170	2,136	2,217	2,319
Research & Development Expense	983	923	1,114	1,224	1,051	930	1,028	1,325	1,330	1,544	1,479
Amortization Expense	75	41	34	-	22	28	27	9.00	4.00	21	20
Other Operating Expenses / (Income)	262	271	231	38	247	262	330	422	332	360	353
Total Other Income / (Expense), net	39	209	1,326	11	497	-118	709	-2,525	-3,951	1,766	-40
Interest Expense	-39	-209	-1,326	-11	-497	251	298	160	165	66	-36
Other Income / (Expense), net	-	-	-	-	-	-	-	-	-3,786	-	-76
Income Tax Expense	3,380	459	-3,634	3,288	121	219	858	146	-327	932	297
Net Income / (Loss) Discontinued Operations	911	-222	-19	-4.00	402	353	3,180	13,356	5.00	-8.00	-6.00
Basic Earnings per Share	$0.04	$1.43	$6.41	($0.95)	$2.58	$2.10	$7.98	$20.87	($2.27)	$5.22	$3.99
Weighted Average Basic Shares Outstanding	1.25B	1.21B	1.13B	1.06B	980M	849M	710M	652M	558M	530M	496M
Diluted Earnings per Share	$0.04	$1.42	$6.35	($0.95)	$2.55	$2.09	$7.89	$20.54	($2.27)	$5.19	$3.94
Weighted Average Diluted Shares Outstanding	1.25B	1.22B	1.14B	1.06B	991M	856M	718M	663M	558M	533M	501M
Weighted Average Basic & Diluted Shares Outstanding	1.15B	1.21B	1.13B	1.07B	980.60M	796.08M	680.45M	587.53M	536.88M	518M	466M

This table shows eBay's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	672	567	171	1,305	724	438	224	634	679	503	368
Consolidated Net Income / (Loss)	672	567	171	1,305	724	438	224	634	679	503	368
Net Income / (Loss) Continuing Operations	671	569	172	1,306	728	439	226	636	680	505	369
Total Pre-Tax Income	829	730	285	1,661	1,031	536	328	797	617	634	477
Total Operating Income	565	558	518	455	410	631	549	595	543	616	484
Total Gross Profit	1,829	1,810	1,822	1,795	1,852	1,856	1,837	1,849	1,861	1,862	1,954
Total Revenue	2,510	2,510	2,540	2,500	2,562	2,556	2,572	2,576	2,579	2,585	2,730
Operating Revenue	2,510	2,510	2,540	2,500	2,562	2,556	2,572	2,576	2,579	2,585	2,730
Total Cost of Revenue	681	700	718	705	710	700	735	727	718	723	776
Operating Cost of Revenue	681	700	718	705	710	700	735	727	718	723	776
Total Operating Expenses	1,264	1,252	1,304	1,340	1,442	1,225	1,288	1,254	1,318	1,246	1,470
Selling, General & Admin Expense	288	297	251	283	365	238	241	194	241	261	371
Marketing Expense	554	511	566	567	573	541	577	592	609	536	586
Research & Development Expense	340	352	392	401	399	351	379	374	375	362	421
Amortization Expense	1.00	8.00	5.00	4.00	4.00	4.00	5.00	5.00	6.00	6.00	6.00
Other Operating Expenses / (Income)	81	84	90	85	101	91	86	89	87	81	86
Total Other Income / (Expense), net	264	172	-233	1,206	621	-95	-221	202	74	18	-7.00
Interest Expense	55	26	19	6.00	15	-2.00	-1.00	-3.00	-30	-20	3.00
Other Income / (Expense), net	-	198	-214	-	-	-97	-222	-	-	-2.00	-4.00
Income Tax Expense	158	161	113	355	303	97	102	161	-63	129	108
Net Income / (Loss) Discontinued Operations	1.00	-2.00	-1.00	-1.00	-4.00	-1.00	-2.00	-2.00	-1.00	-2.00	-1.00
Basic Earnings per Share	$1.09	$1.06	$0.32	$2.47	$1.37	$0.85	$0.45	$1.31	$1.38	$1.08	$0.80
Weighted Average Basic Shares Outstanding	558M	537M	534M	529M	530M	516M	503M	487M	496M	467M	461M
Diluted Earnings per Share	$1.09	$1.05	$0.32	$2.46	$1.36	$0.85	$0.45	$1.29	$1.35	$1.06	$0.79
Weighted Average Diluted Shares Outstanding	558M	541M	537M	532M	533M	519M	507M	494M	501M	475M	470M
Weighted Average Basic & Diluted Shares Outstanding	536.88M	534.50M	532.16M	519M	518M	506M	489M	479M	466M	461M	457M

This table details how cash moves in and out of eBay's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	1,834	-4,496	-25	305	154	-1,223	598	-188	866	221	793
Net Cash From Operating Activities	5,677	4,033	2,826	3,146	2,658	3,114	2,419	2,657	2,254	2,426	2,414
Net Cash From Continuing Operating Activities	3,228	2,877	2,827	3,146	2,210	2,416	3,004	3,093	2,627	2,431	2,414
Net Income / (Loss) Continuing Operations	-865	1,947	7,285	-1,013	2,128	1,433	2,487	252	-1,274	2,775	1,981
Consolidated Net Income / (Loss)	46	1,725	7,266	-1,017	2,530	1,786	5,667	13,608	-1,269	2,767	1,975
Net Income / (Loss) Discontinued Operations	911	-222	-19	-4.00	402	353	3,180	13,356	5.00	-8.00	-6.00
Depreciation Expense	682	687	682	676	635	600	583	502	442	403	324
Non-Cash Adjustments To Reconcile Net Income	519	381	-604	637	54	596	-260	3,153	4,616	-908	1,017
Changes in Operating Assets and Liabilities, net	2,892	-138	-4,536	2,846	-607	-213	194	-814	-1,157	161	-908
Net Cash From Discontinued Operating Activities	2,449	1,156	-1.00	0.00	448	698	-585	-436	-373	-5.00	0.00
Net Cash From Investing Activities	-2,673	-3,611	-2,017	-1,295	2,894	2,787	3,794	3,663	2,461	240	2,213
Net Cash From Continuing Investing Activities	-1,325	-673	-2,017	-1,295	2,922	2,900	-179	-1,417	2,459	240	2,213
Purchase of Property, Plant & Equipment	-622	-668	-626	-666	-623	-508	-463	-444	-449	-456	-458
Acquisitions	-55	-24	-212	-50	-302	-160	0.00	0.00	-208	0.00	0.00
Purchase of Investments	-8,752	-6,744	-11,212	-15,099	-28,115	-46,966	-32,887	-22,161	-18,534	-13,874	-13,855
Sale and/or Maturity of Investments	8,115	6,781	10,063	14,520	30,901	50,548	33,129	18,855	20,626	14,502	12,306
Other Investing Activities, net	-11	-18	-30	-	32	-14	42	8.00	1,024	68	4,220
Net Cash From Discontinued Investing Activities	-1,348	-2,938	-	-	-28	-113	3,973	5,080	2.00	0.00	0.00
Net Cash From Financing Activities	-1,022	-4,554	-744	-1,784	-5,398	-7,091	-5,692	-6,532	-3,792	-2,450	-3,806
Net Cash From Continuing Financing Activities	-1,047	-2,960	-744	-1,784	-5,398	-7,087	-5,680	-6,557	-3,792	-2,450	-3,806
Repayment of Debt	6.00	-787	2.00	-1,452	-780	-1,545	-1,776	-1,163	-1,355	-1,150	-774
Repurchase of Common Equity	-4,658	-2,149	-2,943	-2,746	-4,502	-4,973	-5,137	-7,055	-3,143	-1,401	-3,149
Payment of Dividends	-	-	-	0.00	0.00	-473	-447	-466	-489	-528	-533
Issuance of Debt	3,482	0.00	2,216	2,513	0.00	0.00	1,765	2,478	1,143	0.00	441
Issuance of Common Equity	300	221	102	120	109	106	90	93	87	83	92
Other Financing Activities, net	-177	-245	-121	-219	-225	-202	-175	-444	-35	546	117
Other Net Changes in Cash	-	-	-90	238	-	-33	77	24	-57	5.00	-28
Cash Interest Paid	99	175	220	285	314	304	271	253	244	275	264
Cash Income Taxes Paid	343	256	492	308	556	249	493	929	540	746	722

This table details how cash moves in and out of eBay's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	166	159	243	335	-516	168	-106	-183	914	870	-925
Net Cash From Operating Activities	684	841	601	862	122	615	367	755	677	787	-307
Net Cash From Continuing Operating Activities	686	841	605	862	123	615	367	755	677	787	-307
Net Income / (Loss) Continuing Operations	671	569	172	1,306	728	439	226	636	680	505	369
Consolidated Net Income / (Loss)	672	567	171	1,305	724	438	224	634	679	503	368
Net Income / (Loss) Discontinued Operations	1.00	-2.00	-1.00	-1.00	-4.00	-1.00	-2.00	-2.00	-1.00	-2.00	-1.00
Depreciation Expense	107	107	101	97	98	76	77	92	79	79	107
Non-Cash Adjustments To Reconcile Net Income	-108	10	457	-985	-390	333	463	36	185	219	246
Changes in Operating Assets and Liabilities, net	16	155	-125	444	-313	-233	-399	-9.00	-267	-16	-1,029
Net Cash From Investing Activities	-1,294	701	-277	96	-280	250	652	49	1,262	1,312	67
Net Cash From Continuing Investing Activities	-1,294	701	-277	96	-280	250	652	49	1,262	1,312	67
Purchase of Property, Plant & Equipment	-153	-132	-113	-85	-126	-143	-89	-109	-117	-143	-134
Acquisitions	-	-	-	-	-	2.00	-	-	-	-89	-3.00
Purchase of Investments	-3,311	-3,543	-4,144	-2,920	-3,267	-3,312	-4,601	-3,559	-2,383	-3,043	-1,964
Sale and/or Maturity of Investments	2,379	4,404	3,978	3,117	3,003	3,703	2,996	3,722	1,885	4,587	2,168
Net Cash From Financing Activities	744	-1,388	-70	-613	-379	-686	-1,119	-1,009	-992	-1,248	-716
Net Cash From Continuing Financing Activities	744	-1,388	-70	-613	-379	-686	-1,119	-1,009	-992	-1,248	-716
Repayment of Debt	-	-1,150	-	-	-	-15	1.00	-750	-10	-1,241	-403
Repurchase of Common Equity	-315	-242	-250	-626	-283	-453	-1,030	-755	-911	-615	-624
Payment of Dividends	-119	-134	-133	-132	-129	-139	-135	-131	-128	-134	-134
Issuance of Debt	-	-	-	-	-	0.00	-	-	-	568	375
Other Financing Activities, net	3.00	138	265	145	-2.00	-79	-10	183	23	174	-23
Cash Interest Paid	50	60	83	49	83	48	83	48	85	45	87
Cash Income Taxes Paid	84	29	55	13	649	30	408	202	82	26	1,094

This table presents eBay's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	45,132	17,755	23,847	25,986	22,819	18,174	19,310	26,626	20,850	21,620	19,365
Total Current Assets	26,531	7,904	8,875	7,744	7,126	4,706	7,190	9,111	9,290	11,016	7,567
Cash & Equivalents	4,105	1,832	1,816	2,120	2,202	901	1,101	1,379	2,154	1,985	2,433
Short-Term Investments	3,730	4,299	5,333	3,743	2,713	1,850	2,392	5,944	5,317	7,007	3,457
Accounts Receivable	600	619	592	696	712	555	652	681	763	1,013	962
Other Current Assets	1,048	1,154	1,134	1,185	1,499	1,064	-	-	1,056	1,011	715
Plant, Property, & Equipment, net	1,486	1,554	1,516	1,597	1,597	1,460	1,292	1,236	1,238	1,243	1,263
Total Noncurrent Assets	17,115	8,297	13,456	16,645	14,096	12,008	10,828	16,279	10,322	9,361	10,535
Long-Term Investments	5,736	3,391	3,969	6,331	3,778	1,275	833	7,966	1,797	1,129	2,439
Goodwill	4,671	4,451	4,501	4,773	5,160	4,533	4,285	4,178	4,262	4,267	4,269
Noncurrent Deferred & Refundable Income Taxes	-	0.00	4,608	5,199	4,792	3,980	3,537	3,255	3,169	3,089	2,936
Other Noncurrent Operating Assets	207	365	276	273	274	997	1,612	880	1,094	876	891
Total Liabilities & Shareholders' Equity	45,132	17,755	23,847	25,986	22,819	18,174	19,310	26,626	20,850	21,620	19,365
Total Liabilities	25,226	11,179	13,308	17,937	16,538	15,304	15,749	16,848	15,697	15,224	14,207
Total Current Liabilities	17,531	2,263	3,847	3,559	4,454	4,066	4,002	4,622	4,271	4,520	6,098
Short-Term Debt	850	0.00	1,451	781	1,546	1,020	6.00	1,355	1,150	750	1,673
Accounts Payable	107	349	283	330	286	229	657	969	261	267	1,275
Current Deferred & Payable Income Tax Liabilities	125	72	110	177	117	169	167	371	226	253	966
Other Current Liabilities	3,830	1,736	1,893	2,134	2,505	2,097	1,767	1,927	2,634	3,250	2,184
Total Noncurrent Liabilities	7,695	8,916	9,461	14,378	12,084	11,238	11,747	12,226	11,426	10,704	8,109
Long-Term Debt	6,777	6,749	7,509	9,234	7,685	6,738	7,740	7,727	7,721	6,973	5,752
Noncurrent Deferred & Payable Income Tax Liabilities	522	2,092	1,453	3,424	2,925	2,355	2,368	3,116	2,245	2,408	1,405
Other Noncurrent Operating Liabilities	79	75	499	1,720	1,474	1,814	1,576	1,383	1,460	1,323	952
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	19,906	6,576	10,539	8,049	6,281	2,870	3,561	9,778	5,153	6,396	5,158
Total Preferred & Common Equity	19,906	6,576	10,539	8,049	6,281	2,870	3,561	9,778	5,153	6,396	5,158
Total Common Equity	19,906	6,576	10,539	8,049	6,281	2,870	3,561	9,778	5,153	6,396	5,158
Common Stock	13,889	14,540	14,909	15,295	15,718	16,128	16,499	16,661	17,281	17,794	18,291
Retained Earnings	18,900	7,713	14,959	13,929	16,459	17,754	22,961	36,090	34,315	36,531	37,951
Treasury Stock	-14,054	-16,203	-19,205	-21,892	-26,394	-31,396	-36,515	-43,371	-46,702	-48,114	-51,290
Accumulated Other Comprehensive Income / (Loss)	1,171	526	-124	717	498	384	616	398	259	185	206

This table presents eBay's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	20,850	20,004	19,956	21,184	21,620	21,418	20,378	19,915	19,365	18,954	17,961
Total Current Assets	9,290	8,598	8,717	10,314	11,016	10,406	7,269	7,061	7,567	6,872	5,919
Cash & Equivalents	2,154	2,082	2,268	2,550	1,985	2,130	1,963	1,589	2,433	3,031	2,070
Short-Term Investments	5,317	4,788	4,864	6,167	7,007	5,983	3,203	3,302	3,457	1,760	1,680
Accounts Receivable	763	779	789	908	1,013	1,108	1,071	984	962	1,287	1,371
Other Current Assets	1,056	949	796	689	1,011	1,185	1,032	1,186	715	794	798
Plant, Property, & Equipment, net	1,238	1,235	1,227	1,201	1,243	1,281	1,285	1,273	1,263	1,293	1,333
Total Noncurrent Assets	10,322	10,171	10,012	9,669	9,361	9,731	11,824	11,581	10,535	10,789	10,709
Long-Term Investments	1,797	1,657	1,499	1,352	1,129	1,546	3,632	1,534	2,439	2,586	2,520
Goodwill	4,262	4,287	4,244	4,238	4,267	4,235	4,285	4,321	4,269	4,357	4,386
Noncurrent Deferred & Refundable Income Taxes	3,169	3,111	3,143	3,086	3,089	3,052	3,011	2,984	2,936	2,920	2,900
Other Noncurrent Operating Assets	1,094	1,116	1,126	993	876	898	896	2,742	891	926	903
Total Liabilities & Shareholders' Equity	20,850	20,004	19,956	21,184	21,620	21,418	20,378	19,915	19,365	18,954	17,961
Total Liabilities	15,697	14,617	14,688	15,285	15,224	15,145	14,853	14,495	14,207	14,004	13,212
Total Current Liabilities	4,271	3,206	3,555	4,782	4,520	5,233	5,799	5,639	6,098	5,880	5,940
Short-Term Debt	1,150	0.00	0.00	750	750	1,551	1,551	1,243	1,673	994	1,746
Accounts Payable	261	1,072	1,127	1,289	267	1,445	1,432	1,331	1,275	292	1,781
Current Deferred & Payable Income Tax Liabilities	226	305	638	776	253	308	812	790	966	1,024	125
Other Current Liabilities	2,634	1,829	1,790	1,967	3,250	1,929	2,004	2,275	2,184	3,570	2,288
Total Noncurrent Liabilities	11,426	11,411	11,133	10,503	10,704	9,912	9,054	8,856	8,109	8,124	7,272
Long-Term Debt	7,721	7,721	7,721	6,973	6,973	6,174	6,174	6,175	5,752	5,751	5,002
Noncurrent Deferred & Payable Income Tax Liabilities	2,245	2,226	2,137	2,264	2,408	2,417	1,814	1,777	1,405	1,413	1,296
Other Noncurrent Operating Liabilities	1,460	1,464	1,275	1,266	1,323	1,321	1,066	904	952	960	974
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,153	5,387	5,268	5,899	6,396	6,273	5,525	5,420	5,158	4,950	4,749
Total Preferred & Common Equity	5,153	5,387	5,268	5,899	6,396	6,273	5,525	5,420	5,158	4,950	4,749
Total Common Equity	5,153	5,387	5,268	5,899	6,396	6,273	5,525	5,420	5,158	4,950	4,749
Common Stock	17,281	17,366	17,531	17,641	17,794	17,893	18,060	18,163	18,291	18,364	18,560
Retained Earnings	34,315	34,744	34,775	35,941	36,531	36,826	36,926	37,407	37,951	38,314	38,542
Treasury Stock	-46,702	-46,954	-47,205	-47,862	-48,114	-48,617	-49,626	-50,382	-51,290	-51,920	-52,548
Accumulated Other Comprehensive Income / (Loss)	259	231	167	179	185	171	165	232	206	192	195

This table displays calculated financial ratios and metrics derived from eBay's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.46%	-2.25%	8.22%	6.76%	-12.86%	-14.12%	19.72%	17.16%	-6.00%	3.24%	1.69%
EBITDA Growth	1.41%	-8.68%	4.26%	-2.23%	-18.81%	-0.71%	35.82%	6.40%	-129.02%	335.81%	9.47%
EBIT Growth	0.90%	-11.27%	5.83%	-2.62%	-22.61%	1.03%	48.93%	10.89%	-149.13%	235.17%	15.51%
NOPAT Growth	-143.16%	308.77%	160.94%	-121.73%	264.44%	-7.38%	27.65%	-5.57%	-11.12%	-11.67%	38.73%
Net Income Growth	-98.39%	3,650.00%	321.22%	-114.00%	348.77%	-29.41%	217.30%	140.13%	-109.33%	318.05%	-28.62%
EPS Growth	-98.39%	3,450.00%	347.18%	-114.96%	368.42%	-18.04%	277.51%	160.33%	-111.05%	328.63%	-24.08%
Operating Cash Flow Growth	13.65%	-28.96%	-29.93%	11.32%	-15.51%	17.16%	-22.32%	9.84%	-15.17%	7.63%	-0.49%
Free Cash Flow Firm Growth	744.29%	-85.87%	-95.46%	2,356.75%	-52.84%	255.47%	-10.38%	69.04%	-87.95%	380.65%	-20.41%
Invested Capital Growth	-75.50%	12.71%	120.38%	-29.96%	16.17%	-14.43%	-5.11%	-35.51%	33.18%	-15.94%	6.40%
Revenue Q/Q Growth	21.16%	89.04%	4.40%	-0.07%	-18.21%	-3.52%	22.95%	4.44%	-1.04%	0.52%	0.17%
EBITDA Q/Q Growth	22.50%	22.05%	-0.63%	-29.92%	46.98%	0.64%	15.79%	1.00%	-133.92%	-6.54%	1.50%
EBIT Q/Q Growth	1.77%	30.54%	-1.02%	-35.59%	88.79%	0.00%	19.71%	1.49%	-158.07%	-7.40%	2.61%
NOPAT Q/Q Growth	16.11%	22.54%	143.90%	-116.26%	226.01%	-13.96%	9.02%	-11.14%	-4.97%	-10.61%	22.40%
Net Income Q/Q Growth	136.22%	-24.04%	302.10%	-111.56%	220.08%	-10.25%	6.50%	8.51%	-4,632.14%	1.92%	-2.23%
EPS Q/Q Growth	136.22%	-24.47%	296.88%	-111.47%	504.76%	-4.13%	9.74%	11.69%	-1,361.11%	5.49%	-0.25%
Operating Cash Flow Q/Q Growth	-1.25%	-12.97%	-12.94%	163.48%	-33.50%	-11.93%	-2.14%	-14.89%	20.99%	-18.81%	29.85%
Free Cash Flow Firm Q/Q Growth	1,201.12%	-81.26%	-98.21%	32.48%	15.91%	8.81%	-11.69%	-2.68%	130.81%	-57.39%	245.06%
Invested Capital Q/Q Growth	-69.71%	-29.50%	115.78%	-34.41%	-2.89%	-10.11%	-3.40%	-8.27%	-33.17%	12.52%	-33.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	81.08%	79.39%	78.45%	74.89%	76.61%	78.66%	79.80%	74.57%	72.64%	71.98%	71.99%
EBITDA Margin	35.93%	33.57%	32.34%	29.62%	27.60%	31.90%	36.19%	32.87%	-10.15%	23.18%	24.95%
Operating Margin	28.17%	25.57%	25.01%	22.81%	20.25%	23.83%	29.64%	28.05%	23.99%	19.20%	22.54%
EBIT Margin	28.17%	25.57%	25.01%	22.81%	20.25%	23.83%	29.64%	28.05%	-14.66%	19.20%	21.80%
Profit (Net Income) Margin	0.52%	20.08%	78.15%	-10.24%	29.25%	24.04%	63.72%	130.60%	-12.96%	27.36%	19.21%
Tax Burden Percent	1.83%	71.70%	199.01%	-44.70%	112.49%	108.11%	169.42%	3,419.10%	79.26%	74.64%	86.70%
Interest Burden Percent	101.58%	109.51%	157.03%	100.49%	128.37%	93.33%	126.90%	13.62%	111.49%	190.98%	101.61%
Effective Tax Rate	134.39%	19.08%	-99.53%	144.53%	5.38%	13.26%	25.65%	36.68%	0.00%	25.14%	13.04%
Return on Invested Capital (ROIC)	-9.93%	49.54%	76.15%	-14.15%	26.13%	24.27%	34.47%	40.64%	39.51%	33.20%	48.86%
ROIC Less NNEP Spread (ROIC-NNEP)	-16.73%	50.09%	-30.39%	-13.74%	-80.18%	38.58%	184.52%	-515.13%	127.76%	-60.83%	51.33%
Return on Net Nonoperating Assets (RNNOA)	10.14%	-36.52%	8.76%	3.21%	9.18%	14.77%	141.77%	163.39%	-56.51%	14.72%	-14.67%
Return on Equity (ROE)	0.21%	13.03%	84.91%	-10.94%	35.31%	39.03%	176.24%	204.03%	-17.00%	47.92%	34.19%
Cash Return on Invested Capital (CROIC)	111.36%	37.59%	1.00%	21.09%	11.17%	39.82%	39.71%	83.81%	11.05%	50.51%	42.65%
Operating Return on Assets (OROA)	5.72%	6.99%	11.18%	9.09%	7.18%	8.64%	14.06%	12.73%	-6.05%	9.14%	10.94%
Return on Assets (ROA)	0.11%	5.49%	34.93%	-4.08%	10.37%	8.71%	30.24%	59.25%	-5.35%	13.03%	9.64%
Return on Common Equity (ROCE)	0.21%	13.03%	84.91%	-10.94%	35.31%	39.03%	176.24%	204.03%	-17.00%	47.92%	34.19%
Return on Equity Simple (ROE_SIMPLE)	0.23%	26.23%	68.94%	-12.64%	40.28%	62.23%	159.14%	139.17%	-24.63%	43.26%	38.29%
Net Operating Profit after Tax (NOPAT)	-852	1,778	4,639	-1,008	1,658	1,535	1,960	1,851	1,645	1,453	2,016
NOPAT Margin	-9.69%	20.69%	49.89%	-10.16%	19.16%	20.67%	22.04%	17.76%	16.79%	14.37%	19.60%
Net Nonoperating Expense Percent (NNEP)	6.80%	-0.55%	106.54%	-0.41%	106.31%	-14.31%	-150.06%	555.77%	-88.25%	94.03%	-2.47%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	11.73%	10.29%	16.02%
Cost of Revenue to Revenue	18.92%	20.61%	21.55%	25.11%	23.39%	21.34%	20.20%	25.43%	27.36%	28.02%	28.01%
SG&A Expenses to Revenue	10.11%	13.06%	9.67%	10.38%	11.32%	13.30%	11.07%	8.84%	9.83%	11.83%	8.89%
R&D to Revenue	11.18%	10.74%	11.98%	12.33%	12.15%	12.52%	11.56%	12.72%	13.58%	15.27%	14.38%
Operating Expenses to Revenue	52.91%	53.82%	53.44%	52.08%	56.36%	54.84%	50.16%	46.52%	48.65%	52.79%	49.45%
Earnings before Interest and Taxes (EBIT)	2,476	2,197	2,325	2,264	1,752	1,770	2,636	2,923	-1,436	1,941	2,242
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,158	2,884	3,007	2,940	2,387	2,370	3,219	3,425	-994	2,344	2,566
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.19	4.57	2.87	4.46	3.92	9.47	9.13	4.04	4.19	3.47	5.75
Price to Tangible Book Value (P/TBV)	4.21	14.78	5.10	11.21	23.94	0.00	0.00	7.06	24.21	10.43	33.38
Price to Revenue (P/Rev)	7.23	3.50	3.25	3.62	2.85	3.66	3.66	3.79	2.20	2.20	2.89
Price to Earnings (P/E)	1,381.67	17.44	4.16	0.00	9.74	15.22	5.74	2.90	0.00	8.03	15.02
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	1.68%	1.36%	1.14%	2.21%	2.34%	1.74%
Earnings Yield	0.07%	5.74%	24.01%	0.00%	10.27%	6.57%	17.43%	34.44%	0.00%	12.46%	6.66%
Enterprise Value to Invested Capital (EV/IC)	17.08	7.18	3.35	5.75	3.69	5.30	6.49	9.33	4.45	4.95	6.76
Enterprise Value to Revenue (EV/Rev)	6.55	3.18	3.02	3.40	2.91	4.16	4.04	3.20	2.16	1.96	2.80
Enterprise Value to EBITDA (EV/EBITDA)	18.24	9.47	9.34	11.48	10.55	13.04	11.16	9.72	0.00	8.45	11.21
Enterprise Value to EBIT (EV/EBIT)	23.27	12.43	12.09	14.91	14.37	17.47	13.63	11.39	0.00	10.21	12.83
Enterprise Value to NOPAT (EV/NOPAT)	0.00	15.36	6.06	0.00	15.19	20.14	18.34	17.99	12.87	13.63	14.27
Enterprise Value to Operating Cash Flow (EV/OCF)	10.15	6.77	9.94	10.73	9.47	9.93	14.85	12.53	9.39	8.17	11.92
Enterprise Value to Free Cash Flow (EV/FCFF)	6.03	20.24	459.32	22.46	35.52	12.27	15.92	8.73	46.03	8.96	16.35
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.38	1.03	0.85	1.24	1.47	2.70	2.18	0.93	1.72	1.21	1.44
Long-Term Debt to Equity	0.34	1.03	0.71	1.15	1.22	2.35	2.17	0.79	1.50	1.09	1.12
Financial Leverage	-0.61	-0.73	-0.29	-0.23	-0.11	0.38	0.77	-0.32	-0.44	-0.24	-0.29
Leverage Ratio	1.99	2.37	2.43	2.68	3.41	4.48	5.83	3.44	3.18	3.68	3.55
Compound Leverage Factor	2.02	2.60	3.82	2.69	4.37	4.18	7.40	0.47	3.55	7.02	3.60
Debt to Total Capital	27.70%	50.65%	45.95%	55.44%	59.51%	73.00%	68.51%	48.15%	63.26%	54.70%	59.01%
Short-Term Debt to Total Capital	3.09%	0.00%	7.44%	4.32%	9.97%	9.60%	0.05%	7.18%	8.20%	5.31%	13.30%
Long-Term Debt to Total Capital	24.61%	50.65%	38.51%	51.12%	49.54%	63.40%	68.45%	40.97%	55.06%	49.39%	45.71%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	72.30%	49.35%	54.05%	44.56%	40.49%	27.00%	31.49%	51.85%	36.74%	45.30%	40.99%
Debt to EBITDA	2.42	2.34	2.98	3.41	3.87	3.27	2.41	2.65	-8.92	3.29	2.89
Net Debt to EBITDA	-1.88	-0.96	-0.72	-0.74	0.23	1.57	1.06	-1.81	0.40	-1.02	-0.35
Long-Term Debt to EBITDA	2.15	2.34	2.50	3.14	3.22	2.84	2.40	2.26	-7.77	2.97	2.24
Debt to NOPAT	-8.96	3.80	1.93	-9.93	5.57	5.05	3.95	4.91	5.39	5.32	3.68
Net Debt to NOPAT	6.98	-1.56	-0.47	2.16	0.32	2.43	1.75	-3.35	-0.24	-1.65	-0.45
Long-Term Debt to NOPAT	-7.96	3.80	1.62	-9.16	4.64	4.39	3.95	4.18	4.69	4.80	2.85
Altman Z-Score	2.71	3.50	3.21	2.82	2.68	3.21	4.01	4.26	3.66	4.37	5.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.51	3.49	2.31	2.18	1.60	1.16	1.80	1.97	2.18	2.44	1.24
Quick Ratio	0.48	2.98	2.01	1.84	1.26	0.81	1.04	1.73	1.93	2.21	1.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	9,548	1,349	61	1,503	709	2,519	2,258	3,817	460	2,211	1,760
Operating Cash Flow to CapEx	912.70%	603.74%	451.44%	472.37%	426.65%	612.99%	522.46%	598.42%	502.00%	532.02%	527.07%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	10.04	7.58	23.85	2.79	33.50	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	12.41	8.12	16.61	13.66	36.76	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	10.38	6.56	13.83	10.94	29.85	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.20	0.27	0.45	0.40	0.35	0.36	0.47	0.45	0.41	0.48	0.50
Accounts Receivable Turnover	1.63	14.10	15.36	15.41	12.29	11.73	14.74	15.63	13.57	11.39	10.41
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	4.14	5.65	6.06	6.38	5.42	4.86	6.46	8.24	7.92	8.15	8.21
Accounts Payable Turnover	8.00	7.77	6.34	8.13	6.57	6.16	4.06	3.26	4.36	10.73	3.74
Days Sales Outstanding (DSO)	223.38	25.89	23.77	23.68	29.71	31.13	24.77	23.35	26.90	32.05	35.05
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	45.65	46.99	57.55	44.87	55.57	59.30	89.98	111.98	83.76	34.01	97.71
Cash Conversion Cycle (CCC)	177.73	-21.10	-33.79	-21.20	-25.86	-28.17	-65.21	-88.63	-56.85	-1.96	-62.66
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,374	3,803	8,381	5,870	6,819	5,835	5,537	3,571	4,756	3,998	4,254
Invested Capital Turnover	1.03	2.39	1.53	1.39	1.36	1.17	1.56	2.29	2.35	2.31	2.49
Increase / (Decrease) in Invested Capital	-10,400	429	4,578	-2,511	949	-984	-298	-1,966	1,185	-758	256
Enterprise Value (EV)	57,613	27,304	28,098	33,757	25,175	30,915	35,934	33,303	21,173	19,810	28,770
Market Capitalization	63,557	30,077	30,256	35,936	24,637	27,183	32,514	39,510	21,570	22,208	29,674
Book Value per Share	$16.02	$5.48	$9.43	$7.71	$6.52	$3.53	$5.17	$15.62	$9.50	$12.32	$10.77
Tangible Book Value per Share	$12.16	$1.69	$5.31	$3.07	$1.07	($2.09)	($1.07)	$8.95	$1.64	$4.10	$1.86
Total Capital	27,533	13,325	19,499	18,064	15,512	10,628	11,307	18,860	14,024	14,119	12,583
Total Debt	7,627	6,749	8,960	10,015	9,231	7,758	7,746	9,082	8,871	7,723	7,425
Total Long-Term Debt	6,777	6,749	7,509	9,234	7,685	6,738	7,740	7,727	7,721	6,973	5,752
Net Debt	-5,944	-2,773	-2,158	-2,179	538	3,732	3,420	-6,207	-397	-2,398	-904
Capital Expenditures (CapEx)	622	668	626	666	623	508	463	444	449	456	458
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,015	-490	-670	-897	-697	-1,091	-299	-1,479	-1,302	-1,746	-2,748
Debt-free Net Working Capital (DFNWC)	9,850	5,641	6,479	4,966	4,218	1,660	3,194	5,844	6,169	7,246	3,142
Net Working Capital (NWC)	9,000	5,641	5,028	4,185	2,672	640	3,188	4,489	5,019	6,496	1,469
Net Nonoperating Expense (NNE)	-898	53	-2,627	8.90	-872	-251	-3,707	-11,757	2,914	-1,314	41
Net Nonoperating Obligations (NNO)	-16,532	-2,773	-2,158	-2,179	538	2,965	1,976	-6,207	-397	-2,398	-904
Total Depreciation and Amortization (D&A)	682	687	682	676	635	600	583	502	442	403	324
Debt-free, Cash-free Net Working Capital to Revenue	22.92%	-5.70%	-7.21%	-9.04%	-8.06%	-14.69%	-3.36%	-14.19%	-13.29%	-17.27%	-26.72%
Debt-free Net Working Capital to Revenue	112.06%	65.65%	69.68%	50.03%	48.76%	22.34%	35.91%	56.08%	62.98%	71.66%	30.56%
Net Working Capital to Revenue	102.39%	65.65%	54.08%	42.16%	30.89%	8.61%	35.84%	43.08%	51.24%	64.24%	14.29%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.01	$1.43	$6.41	($0.95)	$2.58	$2.10	$7.98	$20.87	($2.27)	$5.22	$3.99
Adjusted Weighted Average Basic Shares Outstanding	3.34B	1.21B	1.13B	1.06B	980M	849M	710M	652M	558M	530M	496M
Adjusted Diluted Earnings per Share	$0.01	$1.42	$6.35	($0.95)	$2.55	$2.09	$7.89	$20.54	($2.27)	$5.19	$3.94
Adjusted Weighted Average Diluted Shares Outstanding	3.37B	1.22B	1.14B	1.06B	991M	856M	718M	663M	558M	533M	501M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	3.23B	1.18B	1.09B	1.01B	914.88M	796.08M	680.45M	587.53M	536.88M	518M	466M
Normalized Net Operating Profit after Tax (NOPAT)	1,733	1,778	1,628	1,585	1,658	1,535	1,960	1,851	1,645	1,453	2,016
Normalized NOPAT Margin	19.72%	20.69%	17.50%	15.96%	19.16%	20.67%	22.04%	17.76%	16.79%	14.37%	19.60%
Pre Tax Income Margin	28.61%	28.00%	39.27%	22.92%	26.00%	22.24%	37.61%	3.82%	-16.35%	36.66%	22.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	7.05	8.85	18.27	-8.70	29.41	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	6.12	6.58	11.57	9.97	22.02	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	5.03	7.29	15.49	-11.42	22.50	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	4.09	5.02	8.79	7.25	15.11	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	26.48%	7.89%	3.42%	-38.53%	19.08%	26.99%
Augmented Payout Ratio	10,126.09%	124.58%	40.50%	-270.01%	177.94%	304.93%	98.54%	55.27%	-286.21%	69.71%	186.43%

This table displays calculated financial ratios and metrics derived from eBay's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.94%	1.09%	4.87%	5.04%	2.07%	1.83%	1.26%	3.04%	0.66%	1.13%	6.14%
EBITDA Growth	-17.04%	6.54%	169.47%	598.73%	-24.40%	-29.32%	-0.25%	24.46%	22.44%	-1.98%	45.30%
EBIT Growth	-17.88%	9.25%	143.68%	1,920.00%	-27.43%	-29.37%	7.57%	30.77%	32.44%	-2.69%	46.79%
NOPAT Growth	-5.04%	-10.21%	-14.93%	-10.02%	-36.69%	18.82%	21.00%	32.72%	106.71%	-5.06%	-1.02%
Net Income Growth	-65.87%	142.28%	132.20%	1,991.30%	7.74%	-22.75%	30.99%	-51.42%	-6.22%	14.84%	64.29%
EPS Growth	-69.21%	146.05%	133.68%	1,992.31%	24.77%	-19.05%	40.63%	-47.56%	-0.74%	24.71%	75.56%
Operating Cash Flow Growth	133.45%	37.19%	163.60%	18.24%	-82.16%	-26.87%	-38.94%	-12.41%	454.92%	27.97%	-183.65%
Free Cash Flow Firm Growth	-129.73%	337.30%	182.75%	238.75%	243.95%	-78.06%	-92.00%	-160.82%	-67.31%	-32.57%	-240.91%
Invested Capital Growth	33.18%	-39.76%	-42.66%	-50.08%	-15.94%	-5.28%	2.16%	80.50%	6.40%	-0.48%	17.41%
Revenue Q/Q Growth	5.46%	0.00%	1.20%	-1.57%	2.48%	-0.23%	0.63%	0.16%	0.12%	0.23%	5.61%
EBITDA Q/Q Growth	750.63%	28.42%	-53.07%	36.30%	-7.97%	20.08%	-33.77%	70.05%	-9.46%	11.41%	-15.30%
EBIT Q/Q Growth	2,360.00%	33.81%	-59.79%	49.67%	-9.89%	30.24%	-38.76%	81.96%	-8.74%	13.08%	-21.82%
NOPAT Q/Q Growth	15.02%	-4.89%	-28.12%	14.44%	-19.08%	78.51%	-26.81%	25.52%	26.04%	-18.01%	-23.69%
Net Income Q/Q Growth	1,073.91%	-15.63%	-69.84%	663.16%	-44.52%	-39.50%	-48.86%	183.04%	7.10%	-25.92%	-26.84%
EPS Q/Q Growth	938.46%	-3.67%	-69.52%	668.75%	-44.72%	-37.50%	-47.06%	186.67%	4.65%	-21.48%	-25.47%
Operating Cash Flow Q/Q Growth	-6.17%	22.95%	-28.54%	43.43%	-85.85%	404.10%	-40.33%	105.72%	-10.33%	16.25%	-139.01%
Free Cash Flow Firm Q/Q Growth	74.25%	575.33%	2.77%	10.33%	-73.29%	-27.56%	-62.54%	-939.05%	114.36%	49.41%	-178.29%
Invested Capital Q/Q Growth	-33.17%	-3.68%	-4.87%	-18.47%	12.52%	8.53%	2.60%	44.05%	-33.67%	1.50%	21.05%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	72.87%	72.11%	71.73%	71.80%	72.29%	72.61%	71.42%	71.78%	72.16%	72.03%	71.58%
EBITDA Margin	26.77%	34.38%	15.94%	22.08%	19.83%	23.87%	15.71%	26.67%	24.12%	26.81%	21.50%
Operating Margin	22.51%	22.23%	20.39%	18.20%	16.00%	24.69%	21.35%	23.10%	21.05%	23.83%	17.73%
EBIT Margin	22.51%	30.12%	11.97%	18.20%	16.00%	20.89%	12.71%	23.10%	21.05%	23.75%	17.58%
Profit (Net Income) Margin	26.77%	22.59%	6.73%	52.20%	28.26%	17.14%	8.71%	24.61%	26.33%	19.46%	13.48%
Tax Burden Percent	81.06%	77.67%	60.00%	78.57%	70.22%	81.72%	68.29%	79.55%	110.05%	79.34%	77.15%
Interest Burden Percent	146.73%	96.56%	93.75%	365.05%	251.46%	100.37%	100.31%	133.95%	113.63%	103.26%	99.38%
Effective Tax Rate	19.06%	22.05%	39.65%	21.37%	29.39%	18.10%	31.10%	20.20%	-10.21%	20.35%	22.64%
Return on Invested Capital (ROIC)	42.86%	27.93%	20.46%	26.98%	26.11%	46.05%	34.02%	37.97%	57.83%	45.22%	29.67%
ROIC Less NNEP Spread (ROIC-NNEP)	36.36%	-75.65%	0.89%	-2,283.37%	-4.99%	51.80%	49.58%	14.44%	52.95%	44.26%	31.83%
Return on Net Nonoperating Assets (RNNOA)	-16.08%	1.55%	0.12%	17.41%	1.21%	-12.17%	-9.11%	-1.73%	-15.13%	-10.12%	-1.84%
Return on Equity (ROE)	26.78%	29.48%	20.58%	44.40%	27.31%	33.88%	24.91%	36.25%	42.70%	35.10%	27.83%
Cash Return on Invested Capital (CROIC)	11.05%	79.27%	81.92%	97.27%	50.51%	39.43%	33.10%	-24.35%	42.65%	46.32%	24.10%
Operating Return on Assets (OROA)	9.29%	13.76%	6.01%	9.09%	7.62%	10.25%	6.42%	11.54%	10.57%	12.13%	9.60%
Return on Assets (ROA)	11.05%	10.32%	3.38%	26.07%	13.46%	8.40%	4.40%	12.30%	13.21%	9.94%	7.36%
Return on Common Equity (ROCE)	26.78%	29.48%	20.58%	44.40%	27.31%	33.88%	24.91%	36.25%	42.70%	35.10%	27.83%
Return on Equity Simple (ROE_SIMPLE)	0.00%	11.86%	25.46%	46.02%	0.00%	42.05%	48.71%	37.27%	0.00%	41.21%	0.00%
Net Operating Profit after Tax (NOPAT)	457	435	313	358	290	517	378	475	598	491	374
NOPAT Margin	18.22%	17.33%	12.31%	14.31%	11.30%	20.22%	14.71%	18.43%	23.20%	18.98%	13.71%
Net Nonoperating Expense Percent (NNEP)	6.50%	103.58%	19.57%	2,310.36%	31.09%	-5.75%	-15.56%	23.53%	4.88%	0.96%	-2.16%
Return On Investment Capital (ROIC_SIMPLE)	3.26%	-	-	-	2.05%	-	-	-	4.76%	4.20%	3.26%
Cost of Revenue to Revenue	27.13%	27.89%	28.27%	28.20%	27.71%	27.39%	28.58%	28.22%	27.84%	27.97%	28.42%
SG&A Expenses to Revenue	11.47%	11.83%	9.88%	11.32%	14.25%	9.31%	9.37%	7.53%	9.34%	10.10%	13.59%
R&D to Revenue	13.55%	14.02%	15.43%	16.04%	15.57%	13.73%	14.74%	14.52%	14.54%	14.00%	15.42%
Operating Expenses to Revenue	50.36%	49.88%	51.34%	53.60%	56.28%	47.93%	50.08%	48.68%	51.11%	48.20%	53.85%
Earnings before Interest and Taxes (EBIT)	565	756	304	455	410	534	327	595	543	614	480
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	672	863	405	552	508	610	404	687	622	693	587
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.19	4.30	4.43	3.89	3.47	4.34	4.92	5.87	5.75	6.38	7.23
Price to Tangible Book Value (P/TBV)	24.21	21.06	22.82	13.83	10.43	13.35	21.92	28.97	33.38	53.22	94.56
Price to Revenue (P/Rev)	2.20	2.36	2.35	2.28	2.20	2.68	2.67	3.10	2.89	3.06	3.28
Price to Earnings (P/E)	0.00	36.25	17.42	8.46	8.03	10.31	10.10	15.76	15.02	15.47	15.72
Dividend Yield	2.21%	2.11%	2.15%	2.25%	2.34%	1.94%	1.94%	1.63%	1.74%	1.62%	1.50%
Earnings Yield	0.00%	2.76%	5.74%	11.82%	12.46%	9.70%	9.90%	6.34%	6.66%	6.46%	6.36%
Enterprise Value to Invested Capital (EV/IC)	4.45	4.88	5.15	5.80	4.95	5.82	5.86	5.12	6.76	7.16	6.66
Enterprise Value to Revenue (EV/Rev)	2.16	2.28	2.26	2.05	1.96	2.49	2.56	3.20	2.80	3.00	3.32
Enterprise Value to EBITDA (EV/EBITDA)	0.00	8.45	8.54	8.22	8.45	10.59	10.91	12.99	11.21	11.76	12.29
Enterprise Value to EBIT (EV/EBIT)	0.00	10.09	10.16	9.84	10.21	12.55	12.77	15.03	12.83	13.43	14.06
Enterprise Value to NOPAT (EV/NOPAT)	12.87	12.38	13.56	12.69	13.63	16.66	16.82	19.94	14.27	15.59	17.93
Enterprise Value to Operating Cash Flow (EV/OCF)	9.39	9.01	7.86	6.90	8.17	11.49	13.28	17.66	11.92	11.96	18.20
Enterprise Value to Free Cash Flow (EV/FCFF)	46.03	4.63	4.58	3.97	8.96	14.37	17.91	0.00	16.35	15.43	29.85
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.72	1.43	1.47	1.31	1.21	1.23	1.40	1.37	1.44	1.36	1.42
Long-Term Debt to Equity	1.50	1.43	1.47	1.18	1.09	0.98	1.12	1.14	1.12	1.16	1.05
Financial Leverage	-0.44	-0.02	0.14	-0.01	-0.24	-0.24	-0.18	-0.12	-0.29	-0.23	-0.06
Leverage Ratio	3.18	3.46	3.77	3.75	3.68	3.55	3.74	3.63	3.55	3.60	3.73
Compound Leverage Factor	4.67	3.34	3.53	13.68	9.25	3.57	3.75	4.86	4.03	3.71	3.71
Debt to Total Capital	63.26%	58.90%	59.44%	56.70%	54.70%	55.19%	58.30%	57.78%	59.01%	57.67%	58.69%
Short-Term Debt to Total Capital	8.20%	0.00%	0.00%	5.51%	5.31%	11.08%	11.71%	9.68%	13.30%	8.50%	15.19%
Long-Term Debt to Total Capital	55.06%	58.90%	59.44%	51.19%	49.39%	44.11%	46.60%	48.10%	45.71%	49.17%	43.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	36.74%	41.10%	40.56%	43.30%	45.30%	44.81%	41.70%	42.22%	40.99%	42.33%	41.31%
Debt to EBITDA	-8.92	2.92	2.94	3.08	3.29	3.24	3.23	2.93	2.89	2.56	2.38
Net Debt to EBITDA	0.40	-0.30	-0.35	-0.94	-1.02	-0.81	-0.45	0.39	-0.35	-0.24	0.17
Long-Term Debt to EBITDA	-7.77	2.92	2.94	2.78	2.97	2.59	2.58	2.44	2.24	2.19	1.77
Debt to NOPAT	5.39	4.28	4.66	4.75	5.32	5.09	4.98	4.50	3.68	3.40	3.48
Net Debt to NOPAT	-0.24	-0.45	-0.55	-1.44	-1.65	-1.28	-0.69	0.60	-0.45	-0.32	0.25
Long-Term Debt to NOPAT	4.69	4.28	4.66	4.29	4.80	4.07	3.98	3.75	2.85	2.90	2.58
Altman Z-Score	3.98	4.32	4.25	4.14	4.13	4.33	4.27	4.65	4.71	4.90	5.23
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.18	2.68	2.45	2.16	2.44	1.99	1.25	1.25	1.24	1.17	1.00
Quick Ratio	1.93	2.39	2.23	2.01	2.21	1.76	1.08	1.04	1.12	1.03	0.86
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-728	3,459	3,555	3,922	1,048	759	284	-2,385	342	512	-401
Operating Cash Flow to CapEx	447.06%	637.12%	531.86%	1,014.12%	96.83%	430.07%	412.36%	692.66%	578.63%	550.35%	-229.10%
Free Cash Flow to Firm to Interest Expense	-13.23	133.04	187.09	653.63	69.83	0.00	0.00	0.00	0.00	0.00	-133.53
Operating Cash Flow to Interest Expense	12.44	32.35	31.63	143.67	8.13	0.00	0.00	0.00	0.00	0.00	-102.33
Operating Cash Flow Less CapEx to Interest Expense	9.65	27.27	25.68	129.50	-0.27	0.00	0.00	0.00	0.00	0.00	-147.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.46	0.50	0.50	0.48	0.49	0.51	0.50	0.50	0.51	0.55
Accounts Receivable Turnover	13.57	13.98	14.26	13.06	11.39	10.77	10.96	10.85	10.41	8.61	8.57
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	7.92	8.09	8.28	8.40	8.15	8.07	8.11	8.30	8.21	8.01	8.00
Accounts Payable Turnover	4.36	2.73	2.77	2.59	10.73	2.25	2.23	2.19	3.74	1.88	1.83
Days Sales Outstanding (DSO)	26.90	26.11	25.59	27.96	32.05	33.90	33.31	33.63	35.05	42.39	42.57
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	83.76	133.53	131.59	140.72	34.01	162.14	163.87	166.49	97.71	194.26	199.18
Cash Conversion Cycle (CCC)	-56.85	-107.43	-106.00	-112.76	-1.96	-128.24	-130.55	-132.85	-62.66	-151.87	-156.61
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,756	4,581	4,358	3,553	3,998	4,339	4,452	6,413	4,254	4,318	5,227
Invested Capital Turnover	2.35	1.61	1.66	1.89	2.31	2.28	2.31	2.06	2.49	2.38	2.16
Increase / (Decrease) in Invested Capital	1,185	-3,024	-3,242	-3,564	-758	-242	94	2,860	256	-21	775
Enterprise Value (EV)	21,173	22,359	22,453	20,625	19,810	25,268	26,109	32,832	28,770	30,930	34,804
Market Capitalization	21,570	23,165	23,363	22,971	22,208	27,202	27,182	31,839	29,674	31,562	34,326
Book Value per Share	$9.50	$10.03	$9.87	$11.09	$12.32	$12.11	$10.98	$11.08	$10.77	$10.62	$10.30
Tangible Book Value per Share	$1.64	$2.05	$1.92	$3.12	$4.10	$3.93	$2.47	$2.25	$1.86	$1.27	$0.79
Total Capital	14,024	13,108	12,989	13,622	14,119	13,998	13,250	12,838	12,583	11,695	11,497
Total Debt	8,871	7,721	7,721	7,723	7,723	7,725	7,725	7,418	7,425	6,745	6,748
Total Long-Term Debt	7,721	7,721	7,721	6,973	6,973	6,174	6,174	6,175	5,752	5,751	5,002
Net Debt	-397	-806	-910	-2,346	-2,398	-1,934	-1,073	993	-904	-632	478
Capital Expenditures (CapEx)	153	132	113	85	126	143	89	109	117	143	134
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,302	-1,478	-1,970	-2,435	-1,746	-1,389	-2,145	-2,226	-2,748	-2,805	-2,025
Debt-free Net Working Capital (DFNWC)	6,169	5,392	5,162	6,282	7,246	6,724	3,021	2,665	3,142	1,986	1,725
Net Working Capital (NWC)	5,019	5,392	5,162	5,532	6,496	5,173	1,470	1,422	1,469	992	-21
Net Nonoperating Expense (NNE)	-215	-132	142	-947	-434	79	154	-159	-81	-12	6.42
Net Nonoperating Obligations (NNO)	-397	-806	-910	-2,346	-2,398	-1,934	-1,073	993	-904	-632	478
Total Depreciation and Amortization (D&A)	107	107	101	97	98	76	77	92	79	79	107
Debt-free, Cash-free Net Working Capital to Revenue	-13.29%	-15.05%	-19.82%	-24.20%	-17.27%	-13.67%	-21.05%	-21.68%	-26.72%	-27.20%	-19.34%
Debt-free Net Working Capital to Revenue	62.98%	54.90%	51.93%	62.45%	71.66%	66.19%	29.65%	25.96%	30.56%	19.26%	16.48%
Net Working Capital to Revenue	51.24%	54.90%	51.93%	54.99%	64.24%	50.93%	14.43%	13.85%	14.29%	9.62%	-0.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.09	$1.06	$0.32	$2.47	$1.37	$0.85	$0.45	$1.31	$1.38	$1.08	$0.80
Adjusted Weighted Average Basic Shares Outstanding	558M	537M	534M	529M	530M	516M	503M	487M	496M	467M	461M
Adjusted Diluted Earnings per Share	$1.09	$1.05	$0.32	$2.46	$1.36	$0.85	$0.45	$1.29	$1.35	$1.06	$0.79
Adjusted Weighted Average Diluted Shares Outstanding	558M	541M	537M	532M	533M	519M	507M	494M	501M	475M	470M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	536.88M	534.50M	532.16M	519M	518M	506M	489M	479M	466M	461M	457M
Normalized Net Operating Profit after Tax (NOPAT)	457	435	313	358	290	517	378	475	380	491	374
Normalized NOPAT Margin	18.22%	17.33%	12.31%	14.31%	11.30%	20.22%	14.71%	18.43%	14.74%	18.98%	13.71%
Pre Tax Income Margin	33.03%	29.08%	11.22%	66.44%	40.24%	20.97%	12.75%	30.94%	23.92%	24.53%	17.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.27	29.08	16.00	75.83	27.33	0.00	0.00	0.00	0.00	0.00	160.00
NOPAT to Interest Expense	8.31	16.73	16.45	59.63	19.30	0.00	0.00	0.00	0.00	0.00	124.81
EBIT Less CapEx to Interest Expense	7.49	24.00	10.05	61.67	18.93	0.00	0.00	0.00	0.00	0.00	115.33
NOPAT Less CapEx to Interest Expense	5.53	11.65	10.51	45.46	10.90	0.00	0.00	0.00	0.00	0.00	80.14
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-38.53%	77.31%	37.73%	19.08%	19.08%	20.20%	19.88%	26.44%	26.99%	25.88%	24.13%
Augmented Payout Ratio	-286.21%	439.75%	119.24%	71.86%	69.71%	81.31%	108.77%	151.24%	186.43%	188.19%	157.14%

Key Financial Trends

Over the past four years, eBay Inc. (NASDAQ: EBAY) has demonstrated consistent revenue growth and solid operational performance, along with active capital management and investments. Here’s a detailed analysis of key financial trends and highlights based on the quarterly financial statements through Q2 2025:

Revenue Growth: Operating revenue rose steadily from approximately $2.38 billion in Q3 2022 to $2.73 billion by Q2 2025, showing a moderate upward trend and reflecting improved market demand and operational scale.
Gross Profit Expansion: Gross profit margins have remained stable at around $1.8 billion to $1.9 billion per quarter, indicating strong cost control on the cost of revenue despite increased sales.
Net Income Improvement: Consolidated net income improved from a loss of $69 million in Q3 2022 to positive net income of $368 million in Q2 2025, demonstrating a turnaround and enhanced profitability.
Earnings per Share Growth: Basic earnings per share increased from a loss of $0.13 in Q3 2022 to $0.80 in Q2 2025, supported by earnings growth and consistent share repurchases reducing shares outstanding.
Strong Operating Cash Flow in Recent Years: Net cash from continuing operating activities has generally been positive, peaking at $841 million in Q1 2024, although with some volatility such as a negative $307 million in Q2 2025.
Active Investment and Capital Expenditure: Significant investments in property, plant and equipment (over $110 million quarterly on average) alongside acquisitions and purchases of short & long-term investments indicate reinvestment for growth.
Share Repurchases: Consistent repurchase of common equity ranging from $250 million to $624 million per quarter has reduced the share count, positively impacting earnings per share.
Fluctuating Net Cash from Operating Activities: While positive in most quarters, Q2 2025 saw a negative operating cash flow (-$307 million), predominantly due to a large net increase in operating assets and liabilities, warranting monitoring for sustainability.
High Income Tax Payments: Income tax payments vary, with a notable $1.09 billion paid in Q2 2025, reflecting increased taxable income but impacting free cash flow in the short term.
Rising Debt Levels: Total long-term debt was $6.58 billion in Q3 2022 and increased to $5 billion by Q2 2025, with short-term debt fluctuating around $1.5 billion; the company also has significant liabilities which slightly erode net equity positioning.
Volatile Other Operating Expenses: Other operating expenses have fluctuated, with spikes up to $101 million in some quarters, which may pressure operating margins if not controlled.

Summary Analysis: eBay has steadily increased revenues and profitability over the last four years, with effective capital return policies through share repurchases. The company invests heavily in fixed assets and financial investments, indicating a strategic approach to growth. Operating cash flows have been mostly positive but showed a decline in the latest quarter analyzed, which could merit investor attention. The increase in debt and liabilities suggests cautious monitoring of financial leverage and balance sheet risk. Overall, eBay displays a solid financial footing with positive momentum but some areas require vigilance.

09/09/25 03:59 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About eBay's Financials

When does eBay's financial year end?

According to the most recent income statement we have on file, eBay's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has eBay's net income changed over the last 10 years?

eBay's net income appears to be on an upward trend, with a most recent value of $1.98 billion in 2024, rising from $46 million in 2014. The previous period was $2.77 billion in 2023. Find out what analysts predict for eBay in the coming months.

What is eBay's operating income?

eBay's total operating income in 2024 was $2.32 billion, based on the following breakdown:

Total Gross Profit: $7.40 billion
Total Operating Expenses: $5.09 billion

How has eBay's revenue changed over the last 10 years?

Over the last 10 years, eBay's total revenue changed from $8.79 billion in 2014 to $10.28 billion in 2024, a change of 17.0%.

How much debt does eBay have?

eBay's total liabilities were at $14.21 billion at the end of 2024, a 6.7% decrease from 2023, and a 43.7% decrease since 2014.

How much cash does eBay have?

In the past 10 years, eBay's cash and equivalents has ranged from $901 million in 2019 to $4.11 billion in 2014, and is currently $2.43 billion as of their latest financial filing in 2024.

How has eBay's book value per share changed over the last 10 years?

Over the last 10 years, eBay's book value per share changed from 16.02 in 2014 to 10.77 in 2024, a change of -32.8%.

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This page (NASDAQ:EBAY) was last updated on 9/9/2025 by MarketBeat.com Staff

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eBay (EBAY) Financials

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eBay (EBAY) Financials

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