Reading the tape
NASDAQ: EBAY
eBay Inc.
Consumer Cyclical · Specialty Retail
Market Cap
$47.81B
52w High
$111.38
52w Low
$67.87
P/E
23.65
Volume
4.87M
Outstanding Shares
444.00M
Price vs Fundamentals
Why The Stock Is Moving
Momentum disconnected from fundamentalsModerate confidence
1Y Price: 52.62%Revenue (TTM): 12.53%FCF (TTM): -20.68%P/FCF: 100th pct
What changed
The stock rose 52.62% over the last year. Revenue grew 12.53% over the trailing twelve months. Operating margin moved from 22.33% to 19.58%. Free cash flow declined 20.68% over the trailing twelve months.
What the market seems to be pricing
The stock is rising despite deteriorating fundamentals and now sits at the 100th percentile of its historical P/FCF range. This is a momentum-driven move — the market may be front-running a recovery that has not yet appeared in reported numbers.
What would invalidate this read
Operating margin (currently 19.58%) would need to stabilize or improve to justify the move. This read is wrong if the next period shows operating metrics turning the corner. At that point the price would be anticipating real improvement rather than running ahead of it.
Company profile
eBay Inc. operates marketplace platforms that connect buyers and sellers in the United States and internationally.
CEOJamie J. Iannone
SectorConsumer Cyclical
IndustrySpecialty Retail
Employees11,500
IPO dateSep 24, 1998
Valuation
Forward P/E—
EV/EBITDA15.71
Enterprise value$44.79B
Stock splits
Jul 20, 2015↑ Forward
Every 125 shares became 297
Feb 17, 2005↑ Forward
Every 1 shares became 2
Aug 29, 2003↑ Forward
Every 1 shares became 2
May 25, 2000↑ Forward
Every 1 shares became 2
Mar 2, 1999↑ Forward
Every 1 shares became 3
Profitability & growth
Revenue growth19.5%
Gross margin72.01%▼0.75%vs FY2024
Operating margin19.58%▼9.00%vs FY2024
ROE44.01%▲14.94%vs FY2024
Analyst consensus
RatingHold
Target price$109.87▲2.02%
32
Buy
35
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 29, 2026
Q3 FY26 · EPS est $1.51 · Revenue est $3.01B
View
Dividends
$1.20/shareQuarterly6yr growth streakEx-div May 29, 2026 · in 19dSafeEBAY pays a dividend with a 1.11% declared yield, 6 consecutive years of growth, growing at 12.03% annually, covered 3.1× by free cash flow.
Declared Yield
1.11%
Annual Div / Share
$1.20
5yr CAGR
+12.03%
Doubles every ~6.1yr
Payout Ratio
26.27%
Safe
Dividend Growth Rate
3yr CAGR
+8.48%
5yr CAGR
+12.03%
Dividend Safety
10/10Safe
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$1.20+7.1%
2025$1.12+7.7%
2024$1.04+10.6%
2023$0.94+17.5%
2022$0.80+17.6%
2021$0.68+13.3%
2020$0.60—
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$11/yr
$1/mo
In 5 yrs
$20/yr+76%
$2/mo
In 10 yrs
$35/yr+211%
$3/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$11/yr $1/mo | $20/yr+76% $2/mo | $35/yr+211% $3/mo |
Long-range projections use a capped 12% annual growth assumption.
Yield-on-cost grows from 1.11% → 3.46% over 10yr
Analysis
Dividend Strengths
Well-covered by free cash flow
The dividend is covered 3.1× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 12.03% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.