Tearsheet

eBay (EBAY)


Market Price (3/14/2026): $91.99 | Market Cap: $41.7 Bil
Sector: Consumer Discretionary | Industry: Broadline Retail

eBay (EBAY)


Market Price (3/14/2026): $91.99
Market Cap: $41.7 Bil
Sector: Consumer Discretionary
Industry: Broadline Retail

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%
Expensive valuation multiples
P/SPrice/Sales ratio is 3.7x
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21%
 
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%
 
3 Low stock price volatility
Vol 12M is 37%
 
4 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Fintech & Digital Payments, and Sustainable Consumption. Themes include Online Marketplaces, Show more.
 
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%
3 Low stock price volatility
Vol 12M is 37%
4 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Fintech & Digital Payments, and Sustainable Consumption. Themes include Online Marketplaces, Show more.
5 Expensive valuation multiples
P/SPrice/Sales ratio is 3.7x

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

eBay (EBAY) stock has gained about 10% since 11/30/2025 because of the following key factors:

1. Exceeding Q4 2025 Earnings and Revenue Expectations.

eBay reported robust fourth-quarter 2025 financial results on February 18, 2026, with non-GAAP earnings per share (EPS) of $1.41, surpassing analysts' consensus estimates of $1.35 by $0.06. Quarterly revenue reached $2.97 billion, exceeding analyst estimates of $2.87 billion, and marked a 15% year-over-year increase. Gross Merchandise Volume (GMV) also saw a significant 10% year-over-year increase, totaling $21.2 billion.

2. Issuing Strong Q1 2026 Financial Guidance.

Following the strong Q4 performance, eBay provided optimistic guidance for the first quarter of 2026, projecting adjusted EPS between $1.53 and $1.59, which exceeded the consensus estimate of $1.48. The company also forecasted Q1 revenue in the range of $3.00 billion to $3.05 billion, surpassing the analyst consensus estimate of $2.79 billion.

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Stock Movement Drivers

Fundamental Drivers

The 10.7% change in EBAY stock from 11/30/2025 to 3/13/2026 was primarily driven by a 18.1% change in the company's P/E Multiple.
(LTM values as of)113020253132026Change
Stock Price ($)82.5191.3410.7%
Change Contribution By: 
Total Revenues ($ Mil)10,71411,1003.6%
Net Income Margin (%)20.4%18.3%-10.2%
P/E Multiple17.220.418.1%
Shares Outstanding (Mil)4564530.7%
Cumulative Contribution10.7%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/13/2026
ReturnCorrelation
EBAY10.7% 
Market (SPY)-3.1%30.0%
Sector (XLY)-6.2%33.9%

Fundamental Drivers

The 1.5% change in EBAY stock from 8/31/2025 to 3/13/2026 was primarily driven by a 7.3% change in the company's P/E Multiple.
(LTM values as of)83120253132026Change
Stock Price ($)89.9991.341.5%
Change Contribution By: 
Total Revenues ($ Mil)10,47011,1006.0%
Net Income Margin (%)20.9%18.3%-12.3%
P/E Multiple19.020.47.3%
Shares Outstanding (Mil)4614531.8%
Cumulative Contribution1.5%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/13/2026
ReturnCorrelation
EBAY1.5% 
Market (SPY)3.0%34.3%
Sector (XLY)-4.2%33.4%

Fundamental Drivers

The 43.7% change in EBAY stock from 2/28/2025 to 3/13/2026 was primarily driven by a 32.5% change in the company's P/E Multiple.
(LTM values as of)22820253132026Change
Stock Price ($)63.5591.3443.7%
Change Contribution By: 
Total Revenues ($ Mil)10,28311,1007.9%
Net Income Margin (%)19.2%18.3%-4.7%
P/E Multiple15.420.432.5%
Shares Outstanding (Mil)4784535.5%
Cumulative Contribution43.7%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/13/2026
ReturnCorrelation
EBAY43.7% 
Market (SPY)12.4%28.9%
Sector (XLY)3.4%27.2%

Fundamental Drivers

The 111.5% change in EBAY stock from 2/28/2023 to 3/13/2026 was primarily driven by a 55.7% change in the company's P/S Multiple.
(LTM values as of)22820233132026Change
Stock Price ($)43.1991.34111.5%
Change Contribution By: 
Total Revenues ($ Mil)9,79511,10013.3%
P/S Multiple2.43.755.7%
Shares Outstanding (Mil)54345319.9%
Cumulative Contribution111.5%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/13/2026
ReturnCorrelation
EBAY111.5% 
Market (SPY)73.4%34.2%
Sector (XLY)56.0%32.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
EBAY Return34%-36%8%45%43%6%100%
Peers Return8%-33%29%18%6%2%18%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
EBAY Win Rate58%33%50%58%75%67% 
Peers Win Rate55%37%58%55%48%67% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
EBAY Max Drawdown0%-44%-7%-7%-3%-9% 
Peers Max Drawdown-15%-46%-17%-15%-18%-10% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AMZN, WMT, MELI, ETSY, TGT. See EBAY Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique KeyEventEBAYS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-54.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven118.9%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven1,026 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-31.6%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven46.1%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven32 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-43.4%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven76.7%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven527 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-74.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven295.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,137 days1,480 days

Compare to AMZN, WMT, MELI, ETSY, TGT

In The Past

eBay's stock fell -54.3% during the 2022 Inflation Shock from a high on 10/22/2021. A -54.3% loss requires a 118.9% gain to breakeven.

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Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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About eBay (EBAY)

eBay Inc. operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks. The company was founded in 1995 and is headquartered in San Jose, California.

AI Analysis | Feedback

  • Airbnb for physical goods, connecting individual buyers and sellers globally.
  • Amazon's marketplace, but specializing in used items, collectibles, and auctions.
  • A global, structured Craigslist, complete with integrated payments and shipping.

AI Analysis | Feedback

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  • Online Marketplace Platform: eBay provides a global digital platform, including its website and mobile apps, that connects buyers and sellers to list, discover, and purchase a wide variety of goods.
  • Payment Facilitation Services: The company offers integrated services that enable users to securely process payments for transactions conducted on its marketplace platform.
```

AI Analysis | Feedback

eBay (EBAY) operates a marketplace platform that connects buyers and sellers. Its primary customers, from whom it generates revenue, are the sellers who utilize its platform to list and sell items. Given the nature of a broad, open marketplace, eBay does not have a few specific "major customer companies" in the traditional B2B sense. Instead, its customer base is highly fragmented and consists of millions of sellers, ranging from individuals to large enterprises.

Therefore, eBay primarily serves a wide array of individuals and businesses as sellers. The categories of customers that eBay serves, based on their selling activity and scale, include:

  1. Individual/Casual Sellers: These are individuals who use eBay to sell personal items, collectibles, used goods, or items they no longer need, often on an irregular basis or as a hobby.
  2. Small to Medium-sized Business (SMB) Sellers: This category includes entrepreneurs, small businesses, and professional merchants who leverage eBay as a significant sales channel. They often operate dedicated eBay Stores, selling new or specialized products to a wider audience.
  3. Larger Merchant/Liquidator Sellers: These are larger enterprises, distributors, or liquidators who utilize eBay for specific sales strategies, such as inventory clearance, selling overstock items, or reaching niche markets, often in high volumes.

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  • Alphabet Inc. (GOOG)
  • Adyen N.V. (ADYEN.AS)

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The following clear emerging threats have been identified for eBay:

  • The rise of social commerce platforms: Platforms such as TikTok Shop and Instagram Shopping are increasingly integrating direct product sales into their social media experiences. These platforms leverage short-form video, live streaming, and influencer marketing to create an entertainment-driven and highly engaging shopping journey. This model presents a fundamental shift in how consumers discover and purchase items, challenging eBay's traditional search-and-browse, destination-site marketplace approach by capturing consumer attention and e-commerce spending through a different paradigm of product discovery and transaction.
  • The proliferation of specialized, authenticated marketplaces: For high-value and niche categories (e.g., luxury goods, collectible sneakers, trading cards, vintage items), there is a growing trend towards highly specialized online marketplaces. Platforms like StockX, GOAT, and The RealReal offer enhanced authentication services, tailored user experiences, and specific escrow or verification processes. These specialized platforms address key trust and authenticity concerns for specific product types, potentially drawing away significant transaction volume and sellers from eBay's broader, generalist marketplace, particularly in categories where eBay has historically been strong.

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Better Bets vs. eBay (EBAY)

Trade Ideas

Select ideas related to EBAY.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MBLY_2272026_Dip_Buyer_HighCashEquity_ExInd02272026MBLYMobileye GlobalDip BuyDB | Cash/EquityDip Buyer with High Net Cash % Equity
Buying dips for companies with significant net cash as a % of market cap along with meaningful cash flow generation
0.0%0.0%0.0%
SAH_2202026_Insider_Buying_GTE_1Mil_EBITp+DE_V202202026SAHSonic AutomotiveInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
-5.9%-5.9%-6.1%
MAT_2132026_Insider_Buying_GTE_1Mil_EBITp+DE_V202132026MATMattelInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
2.9%2.9%0.0%
SONO_2132026_Insider_Buying_GTE_1Mil_EBITp+DE_V202132026SONOSonosInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
-0.7%-0.7%-4.6%
DECK_2062026_Dip_Buyer_ValueBuy02062026DECKDeckers OutdoorDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
1.6%1.6%-0.8%
EBAY_10102025_Quality_Momentum_RoomToRun_10%10102025EBAYeBayQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
3.0%3.0%-10.0%
EBAY_6302022_Dip_Buyer_FCFYield06302022EBAYeBayDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
1.4%9.6%-11.2%
EBAY_10312018_Dip_Buyer_FCFYield10312018EBAYeBayDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
30.7%22.8%-10.0%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

EBAYAMZNWMTMELIETSYTGTMedian
NameeBay Amazon.c.Walmart MercadoL.Etsy Target  
Mkt Price91.34207.67126.521,670.0052.02117.34121.93
Mkt Cap41.42,224.11,008.984.75.153.269.0
Rev LTM11,100716,924703,06128,8932,884105,24267,068
Op Inc LTM2,27779,97528,9763,2013685,2044,202
FCF LTM1,4347,69515,26310,7736393,0095,352
FCF 3Y Avg1,78724,26314,9847,4876713,7325,610
CFO LTM1,959139,51440,97712,1166936,7749,445
CFO 3Y Avg2,266113,44637,5888,3917177,6468,019

Growth & Margins

EBAYAMZNWMTMELIETSYTGTMedian
NameeBay Amazon.c.Walmart MercadoL.Etsy Target  
Rev Chg LTM7.9%12.4%4.3%39.1%2.7%-2.2%6.1%
Rev Chg 3Y Avg4.3%11.7%5.4%38.9%4.0%-1.1%4.9%
Rev Chg Q15.0%13.6%5.8%44.6%3.5%-1.6%9.7%
QoQ Delta Rev Chg LTM3.6%3.7%1.4%10.3%1.0%-0.4%2.5%
Op Mgn LTM20.5%11.2%4.1%11.1%12.8%4.9%11.1%
Op Mgn 3Y Avg20.8%9.4%4.1%12.8%13.0%5.1%11.1%
QoQ Delta Op Mgn LTM-0.2%0.1%-0.1%-0.9%-1.0%-0.2%-0.2%
CFO/Rev LTM17.6%19.5%5.8%41.9%24.0%6.4%18.6%
CFO/Rev 3Y Avg21.7%17.5%5.6%38.0%25.5%7.2%19.6%
FCF/Rev LTM12.9%1.1%2.2%37.3%22.2%2.9%7.9%
FCF/Rev 3Y Avg17.1%3.9%2.2%34.0%23.9%3.5%10.5%

Valuation

EBAYAMZNWMTMELIETSYTGTMedian
NameeBay Amazon.c.Walmart MercadoL.Etsy Target  
Mkt Cap41.42,224.11,008.984.75.153.269.0
P/S3.73.11.42.91.80.52.4
P/EBIT16.222.330.328.213.710.019.3
P/E20.428.644.042.431.414.130.0
P/CFO21.115.924.67.07.47.911.9
Total Yield6.2%3.5%3.0%2.4%3.2%10.9%3.3%
Dividend Yield1.3%0.0%0.7%0.0%0.0%3.9%0.4%
FCF Yield 3Y Avg6.3%1.3%2.3%8.2%10.2%6.5%6.4%
D/E0.20.10.10.10.60.40.2
Net D/E0.10.00.10.10.30.30.1

Returns

EBAYAMZNWMTMELIETSYTGTMedian
NameeBay Amazon.c.Walmart MercadoL.Etsy Target  
1M Rtn10.6%1.8%-1.7%-17.3%9.6%2.4%2.1%
3M Rtn7.4%-8.2%8.4%-17.2%-3.4%22.1%2.0%
6M Rtn1.3%-9.0%22.5%-28.6%-11.7%33.4%-3.8%
12M Rtn44.8%7.1%51.2%-16.1%17.2%17.4%17.3%
3Y Rtn134.5%118.9%185.1%37.5%-49.4%-17.4%78.2%
1M Excs Rtn13.0%4.1%0.6%-14.9%12.0%4.8%4.5%
3M Excs Rtn12.5%-8.8%13.4%-13.6%-3.3%26.9%4.6%
6M Excs Rtn-3.4%-12.5%20.6%-31.4%-15.6%28.3%-8.0%
12M Excs Rtn21.9%-16.6%28.9%-37.7%-5.2%-6.6%-5.9%
3Y Excs Rtn49.6%51.4%115.3%-36.4%-123.8%-89.8%6.6%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment10,28310,112   
Marketplace  9,79510,4208,894
Total10,28310,1129,79510,4208,894


Price Behavior

Price Behavior
Market Price$91.34 
Market Cap ($ Bil)41.4 
First Trading Date09/24/1998 
Distance from 52W High-8.4% 
   50 Days200 Days
DMA Price$89.49$86.20
DMA Trendupup
Distance from DMA2.1%6.0%
 3M1YR
Volatility36.8%37.5%
Downside Capture114.1458.03
Upside Capture181.9884.39
Correlation (SPY)33.0%29.3%
EBAY Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta1.421.511.111.220.580.71
Up Beta-0.610.060.220.620.370.52
Down Beta0.840.960.651.430.670.71
Up Capture214%258%200%125%83%74%
Bmk +ve Days9203170142431
Stock +ve Days13253970139402
Down Capture221%191%127%134%71%92%
Bmk -ve Days12213054109320
Stock -ve Days8152153111347

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EBAY
EBAY43.1%37.5%1.03-
Sector ETF (XLY)13.0%23.7%0.4627.8%
Equity (SPY)19.6%18.9%0.8129.1%
Gold (GLD)71.9%26.3%2.0510.1%
Commodities (DBC)19.3%17.3%0.8913.4%
Real Estate (VNQ)6.2%16.3%0.1920.1%
Bitcoin (BTCUSD)-15.0%44.2%-0.2418.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EBAY
EBAY13.3%32.9%0.44-
Sector ETF (XLY)8.0%23.7%0.3047.7%
Equity (SPY)13.1%17.0%0.6148.1%
Gold (GLD)24.1%17.3%1.1412.7%
Commodities (DBC)11.2%19.0%0.478.7%
Real Estate (VNQ)4.8%18.8%0.1640.1%
Bitcoin (BTCUSD)6.4%56.7%0.3320.3%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EBAY
EBAY15.5%30.9%0.53-
Sector ETF (XLY)12.4%21.9%0.5248.3%
Equity (SPY)14.5%17.9%0.7048.7%
Gold (GLD)14.4%15.6%0.777.4%
Commodities (DBC)8.6%17.6%0.4013.5%
Real Estate (VNQ)5.6%20.7%0.2334.4%
Bitcoin (BTCUSD)67.5%66.8%1.0711.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity13.2 Mil
Short Interest: % Change Since 21520265.1%
Average Daily Volume7.4 Mil
Days-to-Cover Short Interest1.8 days
Basic Shares Quantity453.0 Mil
Short % of Basic Shares2.9%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/18/20263.1%3.8% 
10/29/2025-15.9%-18.6%-16.6%
7/30/202518.3%19.3%19.6%
2/26/2025-8.2%-3.7%-2.9%
10/30/2024-8.2%-2.5%1.5%
7/31/20241.1%-0.9%5.4%
5/1/2024-3.3%-2.7%6.7%
1/24/20241.3%-1.3%5.8%
...
SUMMARY STATS   
# Positive9711
# Negative131510
Median Positive2.0%6.6%5.8%
Median Negative-7.5%-3.7%-8.9%
Max Positive18.3%19.3%19.6%
Max Negative-15.9%-18.6%-16.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/19/202610-K
09/30/202510/30/202510-Q
06/30/202507/31/202510-Q
03/31/202505/01/202510-Q
12/31/202402/27/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/28/202410-K
09/30/202311/08/202310-Q
06/30/202307/27/202310-Q
03/31/202304/27/202310-Q
12/31/202202/23/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Iannone, JamiePresident and CEODirectSell106202687.518,884777,45819,531,577Form
2Rawashdeh, MazenSVP, Chief Technology OfficerDirectSell1219202581.901,920157,248470,597Form
3Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell1219202582.6786571,510391,277Form
4Boone, CorneliusSVP, Chief People OfficerDirectSell1219202583.944,462374,5557,716,159Form
5Loeger, Julie ASVP, Chief Growth OfficerDirectSell1215202582.442,896238,7464,615,816Form