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NASDAQ NMS - GLOBAL MARKET · Retail · CIK 0001065088
$121.19
+0.60% · delayed ~15 min
Last price from Oct 20, 2026
$54.41B market value
From EBAY INC's FY2025 10-K, filed Feb 19, 2026 · read the filing
EBAY provides business support services. It took in $11.10B last year, which makes it a large company. Of every dollar it sells, about 18 cents is left as profit.
The financial picture is led by profitability and debt, with growth and accounting worth watching.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Strong finances across the board.
From EBAY INC's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Free cash flow
$1.96B → $1.43B
Cash
$2.43B → $1.87B
Revenue
$10.28B → $11.10B
Gross profit
$7.40B → $7.93B
Measured against FY2024, from the 10-K filed Feb 19, 2026
Deteriorated: -26.7%
$1.96B to $1.43BSignificant
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
How the latest move compares (quote delayed ~15 min), and what was published around it
EBAY rose 0.60% on the latest quote. The S&P 500 moved −1.04%. That is 1.6 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 15% a year for the next 10 years. Over the last 10 years it shrank by about 8% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 18 cents of every dollar of sales as profit, earning $2.03B last year.
Slowly. Sales grew 7.9% last year.
No. At its current cash flow it could clear its debt in about 2.5 years. For every $1 it owes, it owns $1.36 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 26 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 27% of the cash its operations generated. It has paid in each of the last 7 years.
GoodFigures from the FY2025 annual filing
Last year it earned $2.03B and generated $1.96B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 19, 2026Filing for FY2025 | FY202410-K · Feb 27, 2025Filing for FY2024 | FY202310-K · Feb 28, 2024Filing for FY2023 | FY202210-K · Feb 23, 2023Filing for FY2022 | FY202110-K · Feb 24, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $11.10B | $10.28B | $10.11B | $9.79B | $10.42B | +7.9% |
| Cost of revenue | $3.17B | $2.88B | $2.83B | $2.68B | $2.65B | +10.0% |
| Gross profit | $7.93B | $7.40B | $7.28B | $7.12B | $7.77B | +7.1% |
| Gross marginGross profit ÷ revenueWhat is this? | 71.5% | 72.0% | 72.0% | 72.6% | 74.6% | −0.5 pts |
| Selling, general and administrative | $1.20B | $914.0M | $1.20B | $963.0M | $921.0M | +31.1% |
| Operating income | $2.28B | $2.32B | $1.94B | $2.35B | $2.92B | −1.8% |
| Operating marginOperating income ÷ revenueWhat is this? | 20.5% | 22.5% | 19.2% | 24.0% | 28.1% | −2.0 pts |
| Interest expense | $246.0M | $259.0M | $263.0M | $235.0M | $269.0M | −5.0% |
| Income before tax | $2.31B | $2.28B | $3.71B | -$1.60B | $398.0M | +1.3% |
| Net income | $2.03B | $1.98B | $2.77B | -$1.27B | $13.61B | +2.8% |
| Net marginNet income ÷ revenueWhat is this? | 18.3% | 19.2% | 27.4% | -13.0% | 130.6% | −0.9 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $4.52 | $4.19 | $5.35 | $-2.35 | $22.91 | +7.9% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Sold on the open market — 1,145 shares at $106.58 ($122.0K)
Holds 236,234 shares after this filing.
Sold on the open market
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Quarterly report for Q2 FY2026
Revenue +14.8% · Operating margin +4.0 pts · Operating income +41.1% — against Q2 FY2025
Read the filingPublished results
Read the filingWrite down why you are following EBAY INC, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 8 subsidiaries named in its 10-K, incorporated across 5 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Source: of the 10-K filed 2026-02-19. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from EBAY's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 19, 2026), reported under the US GAAP taxonomy. View the source filing.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 8.0 | 5/9 | 10-K, filed Feb 19, 2026 |
| FY2024 | 9.0 | 7/9 | 10-K, filed Feb 27, 2025 |
| FY2023 | 9.0 | 6/9 | 10-K, filed Feb 28, 2024 |
| FY2022 | 6.0 | 5/9 | 10-K, filed Feb 23, 2023 |
| FY2021 | 8.0 | 6/9 | 10-K, filed Feb 24, 2022 |
| FY2020 | 9.0 | 7/9 | 10-K, filed Feb 4, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
5 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
8.71
In the safe zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-2.21
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: -23.3%
$2.43B to $1.87BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +7.9%
$10.28B to $11.10BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +7.1%
$7.40B to $7.93BNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: −2.0 pts
22.5% to 20.5%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +7.9%
$4.19 to $4.52Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -4.7%
471.0M to 449.0MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Changed: +14.6%
$458.0M to $525.0MNotable
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 6, 2026 — read it.
Improved: +41.1%
$479.0M to $676.0MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +51.1%
$364.0M to $550.0MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +55.9%
$0.79 to $1.24Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +16.3%
$1.98B to $2.30BSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +4.0 pts
17.5% to 21.6%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +4.2 pts
13.3% to 17.5%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +14.8%
$2.73B to $3.13BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +11.6%
$2.07B to $2.31BNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: -3.1%
459.0M to 445.0MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 6, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Deteriorated: -20.2%
$2.89B to $2.31BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +10.6%
$611.0M to $676.0MNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +7.4%
$512.0M to $550.0MNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +1.8 pts
19.8% to 21.6%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +7.7%
$1.15 to $1.24Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -14.2%
$5.99B to $5.14BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
6 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 13% and 18%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 3.9% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 26.4x — investors pay $26.4 for each $1 of trailing profit.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
Holds 226,269 shares after this filing.
Sold on the open market — 1,439 shares at $105.28 ($151.5K)
Holds 224,830 shares after this filing.
Sold on the open market — 6,830 shares at $106.28 ($725.9K)
Holds 218,000 shares after this filing.
Sold on the open market — 2,841 shares at $106.96 ($303.9K)
Holds 215,159 shares after this filing.
Exercised stock options — 3,166 shares
Holds 35,290 shares after this filing.
Exercised stock options — 2,444 shares
Holds 37,734 shares after this filing.
Exercised stock options — 2,500 shares
Holds 40,234 shares after this filing.
Exercised stock options — 2,124 shares
Holds 42,358 shares after this filing.
Had shares withheld to cover taxes — 1,649 shares at $108.03 ($178.1K)
Holds 40,709 shares after this filing.
Had shares withheld to cover taxes — 1,295 shares at $108.03 ($139.9K)
Holds 39,414 shares after this filing.
Had shares withheld to cover taxes — 1,313 shares at $108.03 ($141.8K)
Holds 38,101 shares after this filing.
Had shares withheld to cover taxes — 1,137 shares at $108.03 ($122.8K)
Holds 36,964 shares after this filing.
Exercised stock options — 555 shares
Holds 10,290 shares after this filing.
Exercised stock options — 188 shares
Holds 10,478 shares after this filing.
Exercised stock options — 373 shares
Holds 10,851 shares after this filing.
Exercised stock options — 752 shares
Holds 11,603 shares after this filing.
Exercised stock options — 919 shares
Holds 12,522 shares after this filing.
Exercised stock options — 205 shares
Holds 12,727 shares after this filing.
Exercised stock options — 582 shares
Holds 13,309 shares after this filing.
Had shares withheld to cover taxes — 207 shares at $108.03 ($22.4K)
Holds 13,102 shares after this filing.
Had shares withheld to cover taxes — 73 shares at $108.03 ($7.9K)
Holds 13,029 shares after this filing.
Had shares withheld to cover taxes — 139 shares at $108.03 ($15.0K)
Holds 12,890 shares after this filing.
Had shares withheld to cover taxes — 289 shares at $108.03 ($31.2K)
Holds 12,601 shares after this filing.
Had shares withheld to cover taxes — 347 shares at $108.03 ($37.5K)
Holds 12,254 shares after this filing.
Had shares withheld to cover taxes — 80 shares at $108.03 ($8.6K)
Holds 12,174 shares after this filing.
Had shares withheld to cover taxes — 227 shares at $108.03 ($24.5K)
Holds 11,947 shares after this filing.
Exercised stock options — 3,611 shares
Holds 39,157 shares after this filing.
Exercised stock options — 3,289 shares
Holds 42,446 shares after this filing.
Had shares withheld to cover taxes — 1,881 shares at $108.03 ($203.2K)
Holds 40,565 shares after this filing.
Had shares withheld to cover taxes — 1,760 shares at $108.03 ($190.1K)
Holds 38,805 shares after this filing.
Exercised stock options — 3,472 shares
Holds 112,196 shares after this filing.
Exercised stock options — 3,799 shares
Holds 115,995 shares after this filing.
Exercised stock options — 2,914 shares
Holds 118,909 shares after this filing.
Exercised stock options — 2,125 shares
Holds 121,034 shares after this filing.
Had shares withheld to cover taxes — 1,475 shares at $109.18 ($161.0K)
Holds 119,559 shares after this filing.
Had shares withheld to cover taxes — 1,633 shares at $109.18 ($178.3K)
Holds 117,926 shares after this filing.
Had shares withheld to cover taxes — 1,269 shares at $109.18 ($138.5K)
Holds 116,657 shares after this filing.
Had shares withheld to cover taxes — 939 shares at $109.18 ($102.5K)
Holds 115,718 shares after this filing.
Exercised stock options — 3,472 shares
Holds 119,190 shares after this filing.
Exercised stock options — 3,799 shares
Holds 122,989 shares after this filing.
Exercised stock options — 2,914 shares
Holds 125,903 shares after this filing.
Exercised stock options — 2,124 shares
Holds 128,027 shares after this filing.
Had shares withheld to cover taxes — 1,468 shares at $108.03 ($158.6K)
Holds 126,559 shares after this filing.
Had shares withheld to cover taxes — 1,627 shares at $108.03 ($175.8K)
Holds 124,932 shares after this filing.
Had shares withheld to cover taxes — 1,264 shares at $108.03 ($136.5K)
Holds 123,668 shares after this filing.
Had shares withheld to cover taxes — 935 shares at $108.03 ($101.0K)
Holds 122,733 shares after this filing.
Exercised stock options — 2,778 shares
Holds 71,962 shares after this filing.
Exercised stock options — 2,206 shares
Holds 74,168 shares after this filing.
Exercised stock options — 2,200 shares
Holds 76,368 shares after this filing.
Exercised stock options — 1,713 shares
Holds 78,081 shares after this filing.
Had shares withheld to cover taxes — 1,033 shares at $108.03 ($111.6K)
Holds 77,048 shares after this filing.
Had shares withheld to cover taxes — 833 shares at $108.03 ($90.0K)
Holds 76,215 shares after this filing.
Had shares withheld to cover taxes — 844 shares at $108.03 ($91.2K)
Holds 75,371 shares after this filing.
Had shares withheld to cover taxes — 669 shares at $108.03 ($72.3K)
Holds 74,702 shares after this filing.
Exercised stock options — 1,880 shares
Holds 18,028 shares after this filing.
Exercised stock options — 1,507 shares
Holds 19,535 shares after this filing.
Had shares withheld to cover taxes — 997 shares at $108.03 ($107.7K)
Holds 18,538 shares after this filing.
Had shares withheld to cover taxes — 807 shares at $108.03 ($87.2K)
Holds 17,731 shares after this filing.
Exercised stock options — 11,666 shares
Holds 231,547 shares after this filing.
Exercised stock options — 9,264 shares
Holds 240,811 shares after this filing.
Exercised stock options — 8,648 shares
Holds 249,459 shares after this filing.
Exercised stock options — 7,401 shares
Holds 256,860 shares after this filing.
Had shares withheld to cover taxes — 6,075 shares at $108.03 ($656.3K)
Holds 250,785 shares after this filing.
Had shares withheld to cover taxes — 4,865 shares at $108.03 ($525.6K)
Holds 245,920 shares after this filing.
Had shares withheld to cover taxes — 4,582 shares at $108.03 ($495.0K)
Holds 241,338 shares after this filing.
Had shares withheld to cover taxes — 3,959 shares at $108.03 ($427.7K)
Holds 237,379 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 22,220 shares ($2.4M) on or after .
Shares originally obtained via Acquired as compensation -- Restricted Stock Units.
Filed notice to sell 22,220 shares ($2.3M) on or after .
Shares originally obtained via Acquired as compensation -- Performance Awards.
Filed notice to sell 1,014 shares ($102.4K) on or after .
Shares originally obtained via Restricted Stock Units.
Filed notice to sell 22,220 shares ($2.5M) on or after .
Shares originally obtained via Acquired as compensation -- Performance Awards.
Filed notice to sell 22,220 shares ($2.5M) on or after .
Shares originally obtained via Acquired as compensation -- Restricted Stock Units.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Held a shareholder vote
Made a Regulation FD disclosure · Reported another event
Read the filingMade a Regulation FD disclosure
Read the filingProxy statement for a shareholder meeting
Read the filingQuarterly report for Q1 FY2026
Revenue +19.5% · Operating margin −3.9 pts · Gross profit +21.1% — against Q1 FY2025
Read the filingPublished results
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingAnnual report for FY2025
Revenue +7.9% · Operating margin −2.0 pts · Free cash flow -26.7% — against FY2024
Read the filingPublished results
Read the filingReported another event
Read the filingMade a Regulation FD disclosure
Read the filingQuarterly report for Q3 FY2025
Revenue +9.5% · Operating margin −2.7 pts · Cash +52.5% — against Q3 FY2024
Read the filingPublished results
Read the filingQuarterly report for Q2 FY2025
Revenue +6.1% · Operating margin −3.8 pts · Profit +62.5% — against Q2 FY2024
Read the filingPublished results
Read the filingHad a director or senior officer leave or join · Held a shareholder vote
Read the filingAnnual report for FY2024
Operating margin +3.4 pts · Profit margin −8.2 pts · Operating income +19.4% — against FY2023
Read the filingQuarterly report for Q1 FY2025
Operating margin −1.1 pts · Cash +42.3% · Free cash flow +36.4% — against Q1 FY2024
Read the filingCoverage from the last 30 days
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