# eBay Inc (EBAY) — Stock CV

eBay Inc is a $49.9B technology company. Revenue grew 14.7% over the last year, it keeps 19¢ of every dollar of sales as profit, and its net debt equals ~2.0 years of free cash flow. It trades at 22.5× earnings — in the most expensive third of its own history.

> Founded in 1995, eBay operates one of the world's largest online marketplaces, connecting buyers and sellers across more than 190 markets.

## Identity

- **Ticker**: EBAY
- **Sector**: Technology
- **Industry**: Services-Business Services, Nec
- **Headquarters**: SAN JOSE, CA
- **Employees**: 12 300
- **Website**: https://www.ebay.com
- **Market cap**: $49.9B
- **Last price**: $112.19
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $12.0B
- **Net income**: $2.22B
- **Free cash flow**: $2.43B
- **Net debt**: $4.88B
- **P/E**: 22.5
- **Revenue growth (YoY)**: 14.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 49 |
| Growth | 31 |
| Profitability | 85 |
| Health | 49 |
| Quality | 90 |
| Moat | 75 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +14.7% YoY
- [x] Profitable — $2.22B TTM
- [ ] Profit growing — -11.3% YoY
- [x] Generates cash — $2.43B TTM
- [x] Debt under control — ~2.0y of cash flow to repay
- [x] Established company — $49.9B market cap
- [x] Not printing shares — -34.8% shares over ~5y
- [x] Proven track record — 8/10 profitable years
- [ ] Financially stable — health score 37/100
- [x] Pays a dividend — yield 1.08%
- [x] Valuation not extreme — P/E 22.5

## Experience (career milestones)

- **2022** — EBay acquired a stake in Funko and became the preferred secondary marketplace for Funko
- **FY2021** — Best year on record: $13.6B net income
- **2020** — EBay also launched its Up & Running Grants program in 2020
- **FY2018** — Revenue crossed $10B: $10.7B for the year
- **FY2016** — First recorded profitable year: $7.27B net income
- **FY2016** — Revenue already above $1B: $8.98B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2012** — EBay launched an international shipping partnership with Pitney Bowes whereby a seller of an item…
- **2011** — Microsoft acquired the entire company for $8.5 billion in May 2011
- **2005** — ProStores , formerly known as Kurant StoreSense, was acquired and renamed by eBay Inc
- **Oct 3, 2002** — EBay turned over its operations in Taiwan to a joint venture partner
- **1998** — During the dot-com bubble, eBay became a public company via an initial public offering led by CFO…
- **1998** — EBay acquired Jump, the developer and operator of Up4Sale, an advertising-supported auction website…
- **1996** — The company launched online auctions for airline seats, hotel rooms, cruise berths and other…
- **Sep 3, 1995** — EBay was founded as AuctionWeb in California on September 3, 1995, by French-born Iranian-American computer…

## Strengths

- High gross margin (72.5%)
- Revenue growing 14.7% year over year
- Strong cash conversion — FCF is 20.2% of revenue
- Interest covered 58.0× by operating earnings
- High returns on invested capital (ROIC 21.4%)

## Watch-outs

- Loss-making in 2 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $10.4B | $13.6B | $2.21B |
| FY2022 | $9.79B | -$1.27B | $1.80B |
| FY2023 | $10.1B | $2.77B | $1.97B |
| FY2024 | $10.3B | $1.98B | $1.96B |
| FY2025 | $11.1B | $2.03B | $1.43B |

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Source: https://stockcv.com/EBAY — derived from company filings; may be delayed or incomplete. Information, not investment advice.