StubHub (STUB) financial statements
StubHub reported revenue of $1.7B in fiscal 2025, up 13.0% a year over 2 years.
Net income was -$1.9B and the operating margin -77.0%, against 18.5% in 2023.
Free cash flow was $160M, and the company returned $1M in net buybacks.
The diluted share count rose 4% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from StubHub's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $1.4B | $1.8B | $1.7B |
| Cost of revenue | $232M | $334M | $314M |
| Gross profit | $1.1B | $1.4B | $1.4B |
| Selling, general and admin | $793M | $1.2B | $2.7B |
| Operating income | $253M | $138M | -$1.3B |
| Interest expense | $156M | $180M | $140M |
| Pre-tax income | $86M | $37M | -$1.5B |
| Income tax | -$320M | $40M | $361M |
| Net income | $405M | -$3M | -$1.9B |
| EPS (diluted) | $1.14 | -$0.18 | -$6.27 |
| Diluted shares | 308M | 304M | 319M |
| Gross margin | 83.0% | 81.1% | 82.0% |
| Operating margin | 18.5% | 7.8% | -77.0% |
| Net margin | 29.6% | -0.2% | -109.2% |
Balance sheet
Fiscal years, from StubHub's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash and short-term investments | $776M | $1.0B | $1.2B |
| Receivables | — | $5M | $7M |
| Inventory | — | $16M | $9M |
| Total current assets | — | $1.1B | $1.3B |
| Property, plant and equipment | — | $7M | $73M |
| Goodwill | — | $2.7B | $2.7B |
| Total assets | — | $5.1B | $5.1B |
| Total current liabilities | — | $1.1B | $1.3B |
| Long-term debt | — | $2.3B | $1.5B |
| Total liabilities | — | $3.7B | $3.1B |
| Shareholders' equity | $890M | $881M | $1.2B |
| Net debt | -$776M | $1.3B | $265M |
Cash flow
Fiscal years, from StubHub's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating cash flow | $307M | $261M | $193M |
| Capital spending | $4M | $4M | $33M |
| Free cash flow | $304M | $257M | $160M |
| Stock-based compensation | $35M | $8M | $1.4B |
| Share buybacks (net) | -$1M | $0 | -$1M |
| Free cash flow margin | 22.2% | 14.5% | 9.1% |
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Open STUB in InvestinglyQuestions
What was StubHub's revenue in 2025?
$1.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does StubHub generate?
$160M in fiscal 2025 (operating cash flow minus capital spending).
From StubHub's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.