eBay (EBAY)


Market Price (11/3/2026): $118.79 | Market Cap: $52.1 BilInvestor Relations Sector: Consumer Discretionary | Industry: Broadline Retail

eBay (EBAY)


Market Price (11/3/2026): $118.79
Market Cap: $52.1 Bil
Sector: Consumer Discretionary
Industry: Broadline Retail

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

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 16%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%, CFO LTM is 3.0 Bil, FCF LTM is 2.4 Bil

Stock buyback support
Stock Buyback 3Y Total is 7.4 Bil

Low stock price volatility
Vol 12M is 32%

Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Fintech & Digital Payments, and Sustainable Consumption. Themes include Online Marketplaces, Show more.

Trading close to highs
Dist 52W High is -1.6%, Dist 3Y High is -1.6%

Expensive valuation multiples
P/SPrice/Sales ratio is 4.3x

Key risks
EBAY key risks include [1] maintaining user trust by combating the fraud and counterfeit products inherent to its open marketplace model.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 16%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%, CFO LTM is 3.0 Bil, FCF LTM is 2.4 Bil
3 Stock buyback support
Stock Buyback 3Y Total is 7.4 Bil
4 Low stock price volatility
Vol 12M is 32%
5 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Fintech & Digital Payments, and Sustainable Consumption. Themes include Online Marketplaces, Show more.
6 Trading close to highs
Dist 52W High is -1.6%, Dist 3Y High is -1.6%
7 Expensive valuation multiples
P/SPrice/Sales ratio is 4.3x
8 Key risks
EBAY key risks include [1] maintaining user trust by combating the fraud and counterfeit products inherent to its open marketplace model.

EBAY in ETFs

Weight = EBAY's share of each fund

SPY0.07%
VOO0.06%
IVV0.07%
VTI0.06%
ITOT0.07%
IWB0.07%
RSP0.23%
VTV0.16%
+32 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/1/2026

eBay (EBAY) stock has gained about 5% since 7/31/2026 because of the following key factors:

1. Robust Q3 2026 Earnings Surpass Expectations and Uplifted Outlook. eBay reported strong financial results for fiscal Q3 2026, which ended September 30, 2026, exceeding analyst consensus on both the top and bottom lines. Non-GAAP earnings per diluted share reached $1.51, beating estimates of $1.41 by $0.10, while revenue climbed 13.7% year-over-year to $3.21 billion, surpassing the $3.12 billion estimate. This strong performance was complemented by management raising its full-year 2026 adjusted EPS guidance to a range of $6.25-$6.30, exceeding the prior consensus estimate of $5.89. Additionally, the company projected fiscal Q4 2026 EPS of $1.48-$1.53, above expectations of $1.42.

2. Significant Growth in Gross Merchandise Volume (GMV) Driven by Strategic Focus. The company demonstrated strong Gross Merchandise Volume (GMV) of $23.2 billion in fiscal Q3 2026, marking a 15% increase on an as-reported basis and 16% on an FX-Neutral basis, outperforming analyst estimates. This growth was fueled by the strong performance in "Focus Categories," which saw a 24% increase in GMV, and the Consumer-to-Consumer (C2C) marketplace and recommerce segments, both growing over 20% and collectively representing 72% of total GMV (excluding Depop). The acquisition of Depop, completed on July 30, 2026, also played a crucial role, contributing significantly to a 10% year-over-year increase in active buyers to 147 million.

Show more
Updated on 11/1/2026

eBay (EBAY) stock has gained about 5% since 7/31/2026 because of the following key factors:

1. Robust Q3 2026 Earnings Surpass Expectations and Uplifted Outlook. eBay reported strong financial results for fiscal Q3 2026, which ended September 30, 2026, exceeding analyst consensus on both the top and bottom lines. Non-GAAP earnings per diluted share reached $1.51, beating estimates of $1.41 by $0.10, while revenue climbed 13.7% year-over-year to $3.21 billion, surpassing the $3.12 billion estimate. This strong performance was complemented by management raising its full-year 2026 adjusted EPS guidance to a range of $6.25-$6.30, exceeding the prior consensus estimate of $5.89. Additionally, the company projected fiscal Q4 2026 EPS of $1.48-$1.53, above expectations of $1.42.

2. Significant Growth in Gross Merchandise Volume (GMV) Driven by Strategic Focus. The company demonstrated strong Gross Merchandise Volume (GMV) of $23.2 billion in fiscal Q3 2026, marking a 15% increase on an as-reported basis and 16% on an FX-Neutral basis, outperforming analyst estimates. This growth was fueled by the strong performance in "Focus Categories," which saw a 24% increase in GMV, and the Consumer-to-Consumer (C2C) marketplace and recommerce segments, both growing over 20% and collectively representing 72% of total GMV (excluding Depop). The acquisition of Depop, completed on July 30, 2026, also played a crucial role, contributing significantly to a 10% year-over-year increase in active buyers to 147 million.

3. Strategic Workforce Reduction to Enhance Operational Efficiency and Reinvest in Growth. eBay announced a reduction of approximately 9% of its global workforce (around 1,000 employees) on October 21, 2026. This move was communicated as an effort to simplify operations, sharpen priorities, and redirect resources toward its fastest-growing businesses and strategic initiatives, such as authenticated luxury goods, collectibles, and refurbished products. The company expects to incur $130 million to $150 million in costs primarily during fiscal Q4 2026 for this restructuring, which is aimed at driving long-term sustainable growth.

4. Positive Analyst Sentiment and Upgraded Price Targets. Following the strong fiscal Q3 2026 results and strategic announcements, several analyst firms reiterated positive ratings and raised their price targets for eBay. Needham, for instance, reiterated a Buy rating and a $140 price target on November 3, 2026, citing confidence in the company's growth trajectory, particularly in eBay Live and Depop. Similarly, Piper Sandler increased its price target to $140 from $133 while maintaining an Overweight rating on October 29, 2026, based on the strong Q3 performance and positive fiscal Q4 guidance. The consensus analyst rating for eBay is a "Moderate Buy" with an average 12-month price target of $132.75.

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Stock Movement Drivers

Fundamental Drivers

The 6.4% change in EBAY stock from 7/31/2026 to 11/2/2026 was primarily driven by a 6.8% change in the company's Total Revenues ($ Mil).
(LTM values as of)731202611022026Change
Stock Price ($)113.66120.936.4%
Change Contribution By: 
Total Revenues ($ Mil)11,60412,3946.8%
Net Income Margin (%)17.6%16.9%-3.9%
P/E Multiple24.925.62.7%
Shares Outstanding (Mil)4484440.9%
Cumulative Contribution6.4%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/2/2026
ReturnCorrelation
EBAY6.4% 
Market (SPY)0.7%-5.7%
Sector (XLY)1.8%17.5%

Fundamental Drivers

The 17.5% change in EBAY stock from 4/30/2026 to 11/2/2026 was primarily driven by a 13.4% change in the company's P/E Multiple.
(LTM values as of)430202611022026Change
Stock Price ($)102.88120.9317.5%
Change Contribution By: 
Total Revenues ($ Mil)11,60412,3946.8%
Net Income Margin (%)17.6%16.9%-3.9%
P/E Multiple22.525.613.4%
Shares Outstanding (Mil)4484440.9%
Cumulative Contribution17.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/2/2026
ReturnCorrelation
EBAY17.5% 
Market (SPY)4.9%5.3%
Sector (XLY)0.0%20.4%

Fundamental Drivers

The 50.6% change in EBAY stock from 10/31/2025 to 11/2/2026 was primarily driven by a 51.6% change in the company's P/E Multiple.
(LTM values as of)1031202511022026Change
Stock Price ($)80.29120.9350.6%
Change Contribution By: 
Total Revenues ($ Mil)10,71412,39415.7%
Net Income Margin (%)20.3%16.9%-16.4%
P/E Multiple16.925.651.6%
Shares Outstanding (Mil)4564442.7%
Cumulative Contribution50.6%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/2/2026
ReturnCorrelation
EBAY50.6% 
Market (SPY)11.2%22.7%
Sector (XLY)-0.9%30.0%

Fundamental Drivers

The 224.0% change in EBAY stock from 10/31/2023 to 11/2/2026 was primarily driven by a 72.1% change in the company's P/E Multiple.
(LTM values as of)1031202311022026Change
Stock Price ($)37.33120.93224.0%
Change Contribution By: 
Total Revenues ($ Mil)9,94012,39424.7%
Net Income Margin (%)13.5%16.9%25.5%
P/E Multiple14.925.672.1%
Shares Outstanding (Mil)53444420.3%
Cumulative Contribution224.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/2/2026
ReturnCorrelation
EBAY224.0% 
Market (SPY)86.0%26.9%
Sector (XLY)58.9%27.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
EBAY Return34%-36%8%45%43%40%165%
Peers Return8%-33%29%18%6%28%48%
S&P 500 Return27%-19%24%23%16%10%101%

Monthly Win Rates [3]
EBAY Win Rate58%33%50%58%75%73% 
Peers Win Rate55%37%58%55%48%56% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
EBAY Max Drawdown-21%-44%-25%-14%-20%-17% 
Peers Max Drawdown-26%-49%-30%-24%-30%-24% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[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 11/2/2026 (YTD)

How Low Can It Go

EventEBAYS&P 500
2025 US Tariff Shock
  % Loss-13.7%-18.8%
  % Gain to Breakeven15.9%23.1%
  Time to Breakeven27 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-20.9%-9.5%
  % Gain to Breakeven26.5%10.5%
  Time to Breakeven124 days24 days
2023 SVB Regional Banking Crisis
  % Loss-16.1%-6.7%
  % Gain to Breakeven19.2%7.1%
  Time to Breakeven126 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-44.1%-24.5%
  % Gain to Breakeven79.0%32.4%
  Time to Breakeven713 days427 days
2020 COVID-19 Crash
  % Loss-29.5%-33.7%
  % Gain to Breakeven41.8%50.9%
  Time to Breakeven25 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-20.2%-19.2%
  % Gain to Breakeven25.3%23.8%
  Time to Breakeven29 days105 days

Compare to AMZN, WMT, MELI, ETSY, TGT

In The Past

eBay's stock fell -13.7% during the 2025 US Tariff Shock. Such a loss loss requires a 15.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventEBAYS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-20.9%-9.5%
  % Gain to Breakeven26.5%10.5%
  Time to Breakeven124 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-44.1%-24.5%
  % Gain to Breakeven79.0%32.4%
  Time to Breakeven713 days427 days
2020 COVID-19 Crash
  % Loss-29.5%-33.7%
  % Gain to Breakeven41.8%50.9%
  Time to Breakeven25 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-20.2%-19.2%
  % Gain to Breakeven25.3%23.8%
  Time to Breakeven29 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-22.2%-12.2%
  % Gain to Breakeven28.5%13.9%
  Time to Breakeven163 days62 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-21.6%-15.4%
  % Gain to Breakeven27.5%18.2%
  Time to Breakeven68 days125 days
2008-2009 Global Financial Crisis
  % Loss-70.2%-53.4%
  % Gain to Breakeven235.8%114.4%
  Time to Breakeven703 days1085 days

Compare to AMZN, WMT, MELI, ETSY, TGT

In The Past

eBay's stock fell -13.7% during the 2025 US Tariff Shock. Such a loss loss requires a 15.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About eBay (EBAY)

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eBay Inc. operates as a prominent global e-commerce company, providing extensive online marketplace platforms that connect millions of buyers and sellers across the United States and internationally. At the core of its business is its flagship online marketplace, ebay.com, complemented by a suite of mobile applications, which together form a comprehensive ecosystem for digital commerce.

The company's primary service involves facilitating the listing, buying, selling, and payment for a vast array of items through its digital channels. eBay serves a diverse customer base that includes individual consumers engaged in peer-to-peer transactions, as well as various businesses such as retailers, distributors, liquidators, and import/export companies, all leveraging the platform to reach broader markets and conduct transactions efficiently.

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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

```html
  • 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.

AI Analysis | Feedback

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

AI Analysis | Feedback

Here is the management team for eBay:

Jamie Iannone, President and Chief Executive Officer

Jamie Iannone was appointed CEO of eBay in April 2020. He has over 20 years of experience in digital and omnichannel platforms. Prior to rejoining eBay, he served as COO of Walmart eCommerce and CEO of SamsClub.com, where he led digital transformation initiatives and operational oversight. He also held the position of Executive Vice President of Digital Products at Barnes & Noble, Inc. Iannone had an earlier tenure at eBay from 2001 to 2009, holding various leadership roles in areas such as global search and buyer experience. He holds a Bachelor of Science from Princeton University and an MBA from the Stanford Graduate School of Business.

Peggy Alford, Chief Financial Officer

Peggy Alford assumed the role of eBay's Chief Financial Officer effective May 12, 2025. She brings over 20 years of experience leading finance, operations, and global teams in the technology sector. Previously, Alford served as Executive Vice President, Global Sales of PayPal Holdings, Inc. from March 2020 to January 2024. She also held roles as Senior Vice President, Core Markets at PayPal and Chief Financial Officer and Head of Operations at the Chan Zuckerberg Initiative. Earlier in her career, Alford held various finance and business leadership positions at both PayPal and eBay. She is a CPA and began her career in auditing and consulting. Alford currently serves on the board of directors of Meta Platforms, Inc.

Jordan Sweetnam, Chief Commercial Officer

Jordan Sweetnam leads eBay's newly combined Global Markets and Product organization as Chief Commercial Officer, a role he assumed as part of executive leadership changes announced in April 2025.

Mazen Rawashdeh, Chief Technology Officer

Mazen Rawashdeh leads eBay's unified engineering organization as Chief Technology Officer, a position he took on following executive leadership changes announced in April 2025.

Stefanie Jay, Chief Business and Strategy Officer

Stefanie Jay was appointed as eBay's Chief Business and Strategy Officer in May 2021. In this role, she leads an organization that integrates Strategy, Business Operations, Analytics, and Communications.

AI Analysis | Feedback

Here are the key risks to eBay's business:

  1. Intense Competition

    eBay operates in a highly competitive e-commerce market, facing significant challenges from larger, diversified platforms like Amazon, which offers extensive product selections, faster shipping, and comprehensive fulfillment services, often overshadowing eBay's market share. The competitive landscape also includes specialized marketplaces (e.g., StockX, Poshmark for specific categories) and traditional retailers that have expanded their online presence. This intense competition is exacerbated by low barriers to entry in certain e-commerce segments and evolving consumer preferences, such as a decreasing brand loyalty where price, convenience, and quality often dictate purchasing decisions over platform allegiance.

  2. Regulatory and Compliance Challenges

    eBay faces increasing regulatory scrutiny and compliance obligations, particularly in international markets. As a "very large online platform" under the EU's Digital Services Act (DSA), eBay has explicit statutory duties to implement risk-mitigation measures for illicit products. Recent enforcement actions by French authorities (DGCCRF) have cited eBay for the availability of prohibited items, setting a precedent for potential significant financial penalties, which could amount to up to 10% of global revenue for serious violations. Furthermore, the General Product Safety Regulation (GPSR) in the EU and Northern Ireland, effective December 2024, places primary liability on marketplaces like eBay to ensure product compliance, introducing further financial and operational risks related to non-compliance.

  3. Fraud, Counterfeit Goods, and Cybersecurity Risks

    Maintaining a secure and trustworthy environment is critical for eBay's marketplace model. The platform is continuously exposed to various forms of fraudulent activities, including the sale of stolen or counterfeit items, payment fraud, bid manipulation, phishing scams, and feedback extortion. These issues can significantly damage eBay's brand reputation, erode consumer and seller confidence, and increase operational costs and loss rates. Additionally, as a prominent online platform, eBay remains a target for cyberattacks and security breaches. Such incidents can lead to the compromise of sensitive user data, disruption of operations, and a substantial loss of user trust, as demonstrated by a past data breach in 2014 that resulted in a revenue decline.

AI Analysis | Feedback

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.

AI Analysis | Feedback

eBay Inc. operates marketplace platforms that connect buyers and sellers globally. The addressable markets for its main products and services, primarily its online marketplace, can be identified within the broader e-commerce market and specifically the online marketplace segment.

The global e-commerce market was estimated at USD 25.93 trillion in 2023 and is projected to reach USD 83.26 trillion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 18.9% from 2024 to 2030.

More specifically, the Top 100 global online marketplaces are projected to reach a Gross Merchandise Value (GMV) of USD 3.832 trillion by the end of 2024.

In the U.S. region, total e-commerce sales reached a record high of USD 1.1 trillion in 2023 and are forecast to rise to USD 1.7 trillion by 2028.

AI Analysis | Feedback

Here are the expected drivers of future revenue growth for eBay (EBAY) over the next 2-3 years:

1. Growth in Strategic Focus Categories, Consumer-to-Consumer (C2C), and Recommerce Initiatives: eBay continues to prioritize and invest in specific categories, its consumer-to-consumer marketplace, and the recommerce segment (pre-owned and refurbished goods). These areas have been significant drivers of Gross Merchandise Volume (GMV) growth in 2025 and are expected to sustain this momentum into 2026.

2. Expansion of Advertising Revenue: The company has demonstrated effective monetization strategies, with its first-party advertising products showing strong growth. Advertising revenue has been a notable contributor to overall revenue, with significant year-over-year increases in late 2025.

3. Development of New Growth Vectors: Emerging areas such as "eBay Live," the interactive live-stream shopping experience, and the vehicles category are showing promising results and are expected to contribute to strategic priorities in 2026. eBay Live, for example, has experienced substantial year-over-year growth and expanded into new markets.

4. Integration of AI Technologies: eBay is leveraging AI to enhance the user experience and operational efficiency through innovations like AI-powered card scanning and agentic search. These technological advancements are aimed at improving customer satisfaction and engagement, which can indirectly drive revenue growth.

5. Strategic Acquisitions, such as Depop: The acquisition of Depop for approximately $1.2 billion is a strategic move to strengthen eBay's C2C offerings and expand its presence in the circular fashion segment, particularly targeting a younger demographic. This acquisition is anticipated to contribute to total FX-neutral GMV growth.

AI Analysis | Feedback

Share Repurchases

  • eBay completed a multi-year $8.20 billion buyback program in February 2026.
  • In Q4 2025, eBay repurchased $625 million of its common stock.
  • In December 2024, eBay's Board of Directors authorized an additional $3.0 billion under its stock repurchase program. In February 2026, an incremental $2.0 billion was authorized under the stock repurchase program.

Outbound Investments

  • eBay completed the acquisition of Caramel, an end-to-end online automotive transaction solution provider, in February 2025, after signing a definitive agreement in January 2025.
  • eBay announced the acquisition of Depop, a leading C2C fashion marketplace, for approximately $1.2 billion in cash, expected to close in Q2 2026.
  • eBay Ventures, established in 2022, invests in disruptive companies revolutionizing the commerce landscape, with a focus on early-stage investments in areas such as marketplaces, e-commerce enablers, and the future of commerce, including AI.

Capital Expenditures

  • eBay's capital expenditures averaged $454 million for the fiscal years ending December 2020 to 2024.
  • Capital expenditures for fiscal year 2025 were $525 million.
  • Expected capital expenditures are $549.9 million for 2026 and $558.8 million for 2027.

Better Bets vs. eBay (EBAY)

Peer Outperformance in Broadline Retail

EBAY has outperformed 100% of its 11 Broadline Retail peers over 5Y. Broadline Retail ranks 17th of 22 industries in Consumer Discretionary by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Broadline Retail constituents that EBAY has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
92%
of 13 industry peers · 50.6% return
3Y
100%
of 12 industry peers · 213.5% return
5Y
100%
of 11 industry peers · 76.3% return
No Broadline Retail peer with a comparable growth profile has beaten EBAY by more than 20pp over 5Y.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Broadline Retail is EBAY's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Education Services 14 -3.2%35.5%76.9% CVSA 255% · GHC 117% · LRN 109%
Homebuilding 17 3.8%32.7%38.5% PHM 188% · CVCO 174% · TOL 169%
Hotels, Resorts & Cruise Lines 21 24.4%60.9%20.3% RCL 278% · MAR 171% · HLT 162%
Automotive Retail 17 -0.6%15.0%11.8% MUSA 220% · PAG 125% · ORLY 119%
Home Furnishings 3 2.7%74.8%3.9% SGI 58% · MHK -15%
Home Improvement Retail 5 -7.6%18.9%3.4% HD 5% · LOW 3% · FND -65%
Footwear 9 86.5%82.4%-8.5% DECK 29% · SHOO 9% · CROX -9%
Specialized Consumer Services 10 -5.3%38.1%-13.8% HRB 171% · FTDR 126% · ADT 29%
Restaurants 36 3.1%-5.5%-14.6% EAT 407% · CAKE 209% · TXRH 133%
Distributors 4 -8.1%-15.2%-23.8% ARMK 113% · GPC 8% · POOL -55%
Leisure Products 14 -11.3%-11.9%-33.0% GOLF 82% · HAS 54% · BC -9%
Household Appliances 18 20.9%18.8%-33.8% WHR -81%
Apparel, Accessories & Luxury Goods 29 11.4%30.3%-38.6% RL 274% · TPR 246% · KTB 68%
Leisure Facilities 12 -4.0%3.1%-40.5% OSW 186% · LTH 149% · PLNT -33%
Apparel Retail 27 1.0%5.7%-41.2% ANF 287% · TJX 125% · ROST 113%
Computer & Electronics Retail 3 23.3%65.6%-41.7% BBY -2% · GME -53%
Broadline Retail ← 12 -3.1%20.8%-44.1% EBAY 76% · AMZN 48% · OLLI 25%
Automotive Parts & Equipment 39 -10.5%-10.6%-45.9% MOD 1011% · GTX 190% · PATK 73%
Casinos & Gaming 21 -24.9%-19.9%-50.2% MCRI 82% · BYD 24% · RRR 21%
Other Specialty Retail 24 -9.6%-14.2%-60.7% ULTA 71% · ASO 47% · DKS 29%
Automobile Manufacturers 8 -11.6%-44.2%-69.3% GM 69% · TSLA 3% · F -5%
Consumer Electronics 11 -35.8%-39.8%-80.5% GRMN 111%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

EBAYAMZNWMTMELIETSYTGTMedian
NameeBay Amazon.c.Walmart MercadoL.Etsy Target  
Mkt Price120.73248.33126.701,671.9791.39157.25141.97
Mkt Cap53.62,681.21,007.884.88.371.578.1
Rev LTM12,394797,455735,84035,1823,010107,70571,444
Op Inc LTM2,519104,36632,2802,9074226,0234,465
FCF LTM2,412-46,89213,50912,4095604,4563,434
FCF 3Y Avg1,7772,20713,0828,4736294,2233,215
CFO LTM3,049168,30042,92313,9055988,72311,314
CFO 3Y Avg2,287137,23238,4149,5476747,8908,718

Growth & Margins

EBAYAMZNWMTMELIETSYTGTMedian
NameeBay Amazon.c.Walmart MercadoL.Etsy Target  
Rev Chg LTM15.7%15.4%6.2%46.0%10.8%2.0%13.1%
Rev Chg 3Y Avg7.4%12.9%5.3%40.5%3.7%-0.1%6.3%
Rev Chg Q13.7%12.1%5.9%49.8%10.9%5.3%11.5%
QoQ Delta Rev Chg LTM3.2%2.8%1.5%10.6%2.3%1.2%2.6%
Op Inc Chg LTM14.3%37.0%11.4%-2.0%-8.0%11.0%11.2%
Op Inc Chg 3Y Avg6.5%64.1%14.5%19.1%6.0%9.9%12.2%
Op Mgn LTM20.3%13.1%4.4%8.3%14.0%5.6%10.7%
Op Mgn 3Y Avg20.7%11.3%4.3%11.3%14.3%5.5%11.3%
QoQ Delta Op Mgn LTM-0.3%1.0%0.2%-1.3%-0.3%1.1%-0.0%
CFO/Rev LTM24.6%21.1%5.8%39.5%19.9%8.1%20.5%
CFO/Rev 3Y Avg20.3%19.4%5.5%36.7%23.8%7.4%19.9%
FCF/Rev LTM19.5%-5.9%1.8%35.3%18.6%4.1%11.4%
FCF/Rev 3Y Avg15.8%0.9%1.9%32.5%22.2%3.9%9.9%

Valuation

EBAYAMZNWMTMELIETSYTGTMedian
NameeBay Amazon.c.Walmart MercadoL.Etsy Target  
Mkt Cap53.62,681.21,007.884.88.371.578.1
P/S4.33.41.42.42.80.72.6
P/Op Inc21.325.731.229.219.811.923.5
P/EBIT19.315.031.830.117.611.718.5
P/E25.519.945.745.58.416.322.7
P/CFO17.615.923.56.113.98.214.9
Total Yield4.9%5.1%2.9%2.2%11.7%9.0%5.0%
Dividend Yield1.0%0.0%0.8%0.0%0.0%2.9%0.4%
FCF Yield 3Y Avg4.4%0.3%1.8%8.9%9.7%7.3%5.8%
D/E0.10.10.10.20.40.30.1
Net D/E0.10.10.10.10.10.20.1

Returns

EBAYAMZNWMTMELIETSYTGTMedian
NameeBay Amazon.c.Walmart MercadoL.Etsy Target  
1M Rtn13.5%-1.3%21.5%-1.4%25.6%0.8%7.1%
3M Rtn13.0%-12.6%14.7%-11.9%9.9%6.1%8.0%
6M Rtn11.1%-8.7%-2.4%-7.8%42.7%25.2%4.4%
12M Rtn50.4%1.7%26.3%-28.2%47.4%76.5%36.8%
3Y Rtn213.0%79.2%138.2%20.5%40.1%55.5%67.3%
1M Excs Rtn15.8%1.1%23.9%0.9%27.9%3.1%9.5%
3M Excs Rtn13.0%-7.9%16.4%-9.0%8.2%9.5%8.9%
6M Excs Rtn6.3%-13.5%-7.1%-12.5%38.0%20.5%-0.4%
12M Excs Rtn35.5%0.8%14.5%-39.7%37.2%65.6%25.0%
3Y Excs Rtn148.6%24.5%60.8%-39.7%-34.8%-23.4%0.6%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment11,10010,28310,1129,795 
Marketplace    10,420
Total11,10010,28310,1129,79510,420


Operating Income by Segment
$ Mil20192014201320122011
Marketplace2,814    
Classifieds420    
StubHub139    
Corporate and other-1,052-1,731-1,659-1,542-1,318
Enterprise 8391  
Marketplaces 3,3273,3512,9432,631
Payments 1,8351,5881,359978
GSI   12883
Total2,3213,5143,3712,8882,373


Assets by Segment
$ Mil20032002200120001999
U.S.2,7691,858   
Payments1,7711,683   
International1,280583   
Offline  90 97
Online  1,589 867
offline   97 
online   1,085 
Total5,8204,1241,6791,182964


Price Behavior

Price Behavior
Market Price$120.93 
Market Cap ($ Bil)53.7 
First Trading Date09/24/1998 
Distance from 52W High-1.6% 
   50 Days200 Days
DMA Price$111.14$103.70
DMA Trendupup
Distance from DMA8.8%16.6%
 3M1YR
Volatility29.2%32.1%
Downside Capture-27.0243.90
Upside Capture36.8984.25
Correlation (S&P 500)0.1%22.4%
EBAY Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta0.120.08-0.180.130.560.56
Up Beta-3.94-1.81-0.590.390.400.44
Down Beta1.690.56-0.03-0.000.540.69
Up Capture93%78%4%25%75%48%
Bmk +ve Days12182862130427
Stock +ve Days15263568142410
Down Capture-130%-60%-40%-15%50%68%
Bmk -ve Days10253664121325
Stock -ve Days7172958108340

[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
EBAY46.5%32.1%1.21-
Sector ETF (XLY)1.7%19.3%-0.0528.3%
Equity (SPY)11.6%12.8%0.5722.3%
Gold (GLD)-2.3%28.6%-0.0910.2%
Commodities (DBC)43.1%20.9%1.60-4.0%
Real Estate (VNQ)11.0%13.7%0.5016.1%
Bitcoin (BTCUSD)-28.8%43.6%-0.6610.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EBAY
EBAY10.4%32.7%0.35-
Sector ETF (XLY)4.5%24.1%0.1446.3%
Equity (SPY)12.0%17.1%0.5245.8%
Gold (GLD)16.5%19.0%0.699.9%
Commodities (DBC)8.4%19.6%0.315.2%
Real Estate (VNQ)1.1%18.9%-0.0539.7%
Bitcoin (BTCUSD)4.1%51.6%0.2620.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EBAY
EBAY16.8%31.0%0.56-
Sector ETF (XLY)12.6%22.2%0.5247.2%
Equity (SPY)15.2%17.9%0.7247.3%
Gold (GLD)11.6%16.5%0.578.9%
Commodities (DBC)7.8%18.1%0.3411.4%
Real Estate (VNQ)5.4%20.7%0.2234.3%
Bitcoin (BTCUSD)61.7%66.3%1.0111.6%

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

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity15.4 Mil
Short Interest: % Change Since 9302026-12.0%
Average Daily Volume3.5 Mil
Days-to-Cover Short Interest4.4 days
Basic Shares Quantity444.0 Mil
Short % of Basic Shares3.5%

Earnings Returns History

Updated 11/1/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/20262.7%  
8/5/2026-0.9%-8.0%-4.5%
4/29/2026-0.3%4.2%5.6%
2/18/20263.1%3.8%10.8%
10/29/2025-15.9%-18.6%-16.6%
7/30/202518.3%19.3%19.6%
4/30/2025-0.7%2.3%7.8%
2/26/2025-8.2%-3.7%-2.9%
...
SUMMARY STATS   
# Positive101013
# Negative141310
Median Positive2.9%5.4%6.7%
Median Negative-6.0%-3.9%-8.9%
Max Positive18.3%19.3%19.6%
Max Negative-15.9%-18.6%-16.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/20262.7%  
8/5/2026-0.9%-8.0%-4.5%
4/29/2026-0.3%4.2%5.6%
2/18/20263.1%3.8%10.8%
10/29/2025-15.9%-18.6%-16.6%
7/30/202518.3%19.3%19.6%
4/30/2025-0.7%2.3%7.8%
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%
2/27/20247.9%12.8%17.6%
11/7/2023-2.0%-1.1%2.4%
7/26/2023-10.5%-10.3%-11.6%
4/26/20235.1%3.3%0.6%
2/22/2023-5.2%-4.4%-10.8%
11/2/20222.0%6.6%19.4%
8/3/2022-5.2%-3.9%-10.9%
5/4/2022-11.7%-14.4%-13.1%
2/23/20221.6%0.9%5.3%
10/27/2021-6.8%-2.8%-6.7%
8/11/20211.3%7.1%6.9%
4/28/2021-10.0%-6.5%-4.5%
2/3/20215.3%7.4%-7.1%
SUMMARY STATS   
# Positive101013
# Negative141310
Median Positive2.9%5.4%6.7%
Median Negative-6.0%-3.9%-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
09/30/202610/29/202610-Q
06/30/202608/06/202610-Q
03/31/202604/29/202610-Q
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
Collapse to Preview
Report DateFiling DateFiling
09/30/202610/29/202610-Q
06/30/202608/06/202610-Q
03/31/202604/29/202610-Q
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
12/31/202102/24/202210-K
09/30/202110/28/202110-Q
06/30/202108/12/202110-Q
03/31/202104/29/202110-Q
12/31/202002/04/202110-K
09/30/202010/29/202010-Q
06/30/202007/29/202010-Q
03/31/202004/30/202010-Q
12/31/201901/31/202010-K

Recent Forward Guidance

Updated 10/29/2026

Latest: Q3 2026 Earnings Reported 10/28/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 Organic FX-Neutral Y/Y GrowthReported8.0%9.5%11.0%   
Q4 2026 Dividends per ShareReported 0.16    
Q4 2026 Net RevenueReported2.64 Bil2.67 Bil2.71 Bil-13.6% Lower NewGuidance: 3.10 Bil for Q3 2026
Q4 2026 Diluted GAAP EPSReported0.580.610.64-36.8% Lower NewGuidance: 0.97 for Q3 2026
Q4 2026 Diluted Non-GAAP EPSReported0.780.810.84-41.7% Lower NewGuidance: 1.39 for Q3 2026
2026 Organic FX-Neutral Y/Y GrowthReported19.0%19.5%20.0%   
2026 Net RevenueReported10.04 Bil10.07 Bil10.11 Bil   
2026 Diluted GAAP EPSReported33.033.06   
2026 Diluted Non-GAAP EPSReported3.343.373.4   


Prior: Q1 2026 Earnings Reported 4/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 FX-Neutral Y/Y GrowthReported8.0%9.0%10.0% -5.0%LoweredGuidance: 14.0% for Q1 2026
Q2 2026 Gross Merchandise VolumeReported21.30 Bil21.50 Bil21.70 Bil-0.9% LoweredGuidance: 21.70 Bil for Q1 2026
Q2 2026 RevenueReported2.97 Bil3.00 Bil3.03 Bil-0.8% LoweredGuidance: 3.02 Bil for Q1 2026
Q2 2026 Diluted GAAP EPSReported1.091.121.14-4.7% LoweredGuidance: 1.17 for Q1 2026
Q2 2026 Diluted Non-GAAP EPSReported1.461.491.51-4.8% LoweredGuidance: 1.56 for Q1 2026

Q4 2025 Earnings Reported 2/18/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 FX-Neutral Y/Y GrowthReported10.0%11.0%12.0% 2.0%Higher NewActual: 9.0% for Q4 2025
Q1 2026 Gross Merchandise VolumeReported21.50 Bil21.70 Bil21.90 Bil4.8% Higher NewActual: 20.70 Bil for Q4 2025
Q1 2026 RevenueReported3.00 Bil3.02 Bil3.05 Bil5.8% Higher NewActual: 2.86 Bil for Q4 2025
Q1 2026 Diluted GAAP EPSReported1.141.171.218.8% Higher NewActual: 0.99 for Q4 2025
Q1 2026 Diluted Non-GAAP EPSReported1.531.561.5916.9% Higher NewActual: 1.34 for Q4 2025

Insider Activity

Updated 11/3/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Spencer, RebeccaVP, Chief Accounting OfficerDirectSell11032026121.862,366288,3211,167,541Form
2Iannone, JamiePresident and CEODirectSell10072026106.3211,1101,181,26422,876,644Form
3Iannone, JamiePresident and CEODirectSell10072026107.0811,1101,189,68424,229,402Form
4Iannone, JamiePresident and CEODirectSell9102026103.9911,1101,155,38022,866,427Form
5Iannone, JamiePresident and CEODirectSell9102026102.3511,1101,137,06023,640,924Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Spencer, RebeccaVP, Chief Accounting OfficerDirectSell11032026121.862,366288,3211,167,541Form
2Iannone, JamiePresident and CEODirectSell10072026106.3211,1101,181,26422,876,644Form
3Iannone, JamiePresident and CEODirectSell10072026107.0811,1101,189,68424,229,402Form
4Iannone, JamiePresident and CEODirectSell9102026103.9911,1101,155,38022,866,427Form
5Iannone, JamiePresident and CEODirectSell9102026102.3511,1101,137,06023,640,924Form
6Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell8202026101.391,014102,8093,604,009Form
7Spencer, RebeccaVP, Chief Accounting OfficerDirectSell8112026107.795,190559,4311,049,338Form
8Iannone, JamiePresident and CEODirectSell8072026109.5011,1101,216,50826,509,244Form
9Iannone, JamiePresident and CEODirectSell8072026108.5511,1101,206,03127,486,973Form
10Iannone, JamiePresident and CEODirectSell7082026114.5311,1101,272,47230,273,712Form
11Iannone, JamiePresident and CEODirectSell7082026113.3311,1101,259,10931,214,902Form
12Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell6182026109.1786394,2143,769,968Form
13Rawashdeh, MazenSVP, Chief Technology OfficerDirectSell6182026108.511,919208,2313,485,775Form
14Iannone, JamiePresident and CEODirectSell6082026109.7311,1101,219,14929,528,866Form
15Boone, CorneliusSVP, Chief People OfficerDirectSell6082026109.6931,1003,411,3596,985,169Form
16Iannone, JamiePresident and CEODirectSell6082026109.5911,1101,217,56630,708,078Form
17Rawashdeh, MazenSVP, Chief Technology OfficerDirectSell5272026117.0450,0005,852,0723,419,600Form
18Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell5192026115.611,010116,7663,716,399Form
19Iannone, JamiePresident and CEODirectSell5052026109.5419,6412,151,51031,911,049Form
20Iannone, JamiePresident and CEODirectSell5052026103.2621,0002,168,54032,110,398Form
21Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell5052026103.2533,4413,452,7723,214,885Form
22Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell4172026100.3612,1131,215,6813,094,652Form
23Iannone, JamiePresident and CEODirectSell408202696.8521,0002,033,83832,120,403Form
24Iannone, JamiePresident and CEODirectSell408202697.3721,0002,044,79934,338,305Form
25Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell319202692.4412,9781,199,6843,970,105Form
26Boone, CorneliusSVP, Chief People OfficerDirectSell319202692.4416,6851,542,3348,733,483Form
27Rawashdeh, MazenSVP, Chief Technology OfficerDirectSell319202693.5923,1672,168,2002,706,155Form
28Loeger, Julie ASVP, Chief Growth OfficerDirectSell313202690.8815,0001,363,2004,253,184Form
29Iannone, JamiePresident and CEODirectSell304202688.6012,2171,082,39117,643,935Form
30Iannone, JamiePresident and CEODirectSell304202689.3711,8221,056,55418,890,090Form
31Boone, CorneliusSVP, Chief People OfficerDirectSell226202685.2634,1002,907,3664,929,818Form
32Spencer, RebeccaVP, Chief Accounting OfficerDirectSell224202687.401,869163,351831,261Form
33Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell220202679.871,00980,589458,693Form
34Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell203202691.9933,4413,076,279435,395Form
35Iannone, JamiePresident and CEODirectSell106202687.518,884777,45819,531,577Form
36Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell1219202582.6786571,510391,277Form
37Boone, CorneliusSVP, Chief People OfficerDirectSell1219202583.944,462374,5557,716,159Form
38Rawashdeh, MazenSVP, Chief Technology OfficerDirectSell1219202581.901,920157,248470,597Form
39Loeger, Julie ASVP, Chief Growth OfficerDirectSell1215202582.442,896238,7464,615,816Form
40Iannone, JamiePresident and CEODirectSell1204202582.687,221597,00517,702,465Form
41Iannone, JamiePresident and CEODirectSell1204202582.607,221596,48218,283,447Form
42Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell1120202582.041,00682,532317,331Form
43Iannone, JamiePresident and CEODirectSell1107202581.067,221585,31118,526,348Form
44Iannone, JamiePresident and CEODirectSell1107202581.087,221585,44619,116,069Form
45Sweetnam, Jordan Douglas BradleySVP, Chief Commercial OfficerDirectSell1106202581.5435,3052,878,777233,368Form

Investor Activity (13F)

Updated Nov 3, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Comprehensive Financial Management LLC$913.3 Mil30.3%38Hold13F
Lindsell Train Ltd$175.4 Mil5.6%27TRIM -7.3%13F
Lyrical Asset Management LP$317.9 Mil4.8%39TRIM -5.1%13F
Independent Franchise Partners LLP$616.4 Mil4.3%26TRIM -12.6%13F
Triodos Investment Management BV$49.0 Mil3.7%49Hold13F
Mirova US LLC$312.4 Mil3.5%42Hold13F
Smead Capital Management, Inc.$161.2 Mil3.5%32TRIM -12.9%13F
Lone Peak Global Investors LLC$12.7 Mil2.1%42Hold13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Kiltearn Partners LLP$10.5 Mil2.3%28ExitedDec 31, 202513F
Smead Capital Management, Inc.$161.2 Mil3.5%32TRIM -12.9%Mar 31, 202613F
Independent Franchise Partners LLP$616.4 Mil4.3%26TRIM -12.6%Mar 31, 202613F
Lindsell Train Ltd$175.4 Mil5.6%27TRIM -7.3%Mar 31, 202613F
Lyrical Asset Management LP$317.9 Mil4.8%39TRIM -5.1%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Comprehensive Financial Management LLC$913.3 Mil30.3%38Hold13F
Independent Franchise Partners LLP$616.4 Mil4.3%26TRIM -12.6%13F
Lyrical Asset Management LP$317.9 Mil4.8%39TRIM -5.1%13F
Mirova US LLC$312.4 Mil3.5%42Hold13F
Lindsell Train Ltd$175.4 Mil5.6%27TRIM -7.3%13F
Smead Capital Management, Inc.$161.2 Mil3.5%32TRIM -12.9%13F
Triodos Investment Management BV$49.0 Mil3.7%49Hold13F
Lone Peak Global Investors LLC$12.7 Mil2.1%42Hold13F
Core Cache Last Updated: 11/2/2026