eBay (EBAY)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $48.1B, eBay's free cash flow of $1.4B (fiscal 2025) would need to grow about 12% a year for the stock to be worth today's price. That is faster than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from eBay's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from EBAY's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from eBay's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $10.4B | $9.8B | $10.1B | $10.3B | $11.1B |
| Net income | $13.6B | -$1.3B | $2.8B | $2.0B | $2.0B |
| Free cash flow | $2.2B | $1.8B | $2.0B | $2.0B | $1.4B |
| EPS (diluted) | $20.54 | -$2.27 | $5.19 | $3.94 | $4.34 |
| Operating margin | 28.1% | 24.0% | 19.2% | 22.5% | 20.5% |
Where the revenue comes from
Revenue by products, fiscal 2025.
Superinvestors who own EBAY
From each investor's latest 13F filing (what a 13F shows). 7 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Andrew Wellington Lyrical Asset Management |
Trimmed | $380M | 4.8% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Trimmed | $209M | 0.12% | Q2 2026 |
| Donald Yacktman Yacktman Asset Management |
Trimmed | $141M | 1.7% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $123M | 0.04% | Q2 2026 |
| Bill Smead Smead Capital Management |
Trimmed | $91M | 2.0% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $42M | 0.10% | Q2 2026 |
| Murray Stahl Horizon Kinetics LLC |
Trimmed | $424,985 | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by eBay's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Feb 24, 2026 | Ro Khanna |
0 | $85.30 | — |
| Feb 24, 2026 | Ro Khanna |
0 | $85.30 | — |
| Nov 3, 2025 | Ro Khanna |
0 | $82.77 | — |
| Nov 3, 2025 | Ro Khanna |
0 | $82.77 | — |
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In the full deep dive
Questions
What growth does eBay's stock price imply?
At a market value of $48.1B, eBay would need its free cash flow to grow about 12% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew -5% a year.
Are eBay insiders buying the stock?
4 open-market insider purchases of EBAY in the last 12 months, from SEC Form 4 filings.
Which superinvestors own eBay?
7 of the superinvestors Investingly tracks hold EBAY in their latest 13F, including Andrew Wellington, PRIMECAP Management, Donald Yacktman.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.