Company file · EBAY
eBay
EBay's revenue rose 7.9% in FY2025, to $11.1B, and net income rose 2.8% to $2.0B
Revenue rose 7.9% to $11.1B in FY2025, from $10.3B in FY2024. Net income rose 2.8% to $2.0B. Marketplace Revenues was the largest product or service, at 82% of revenue.
Key facts
In fiscal 2025, which ended Dec 31, 2025, eBay (Nasdaq: EBAY) took in $11.1B of revenue (up 7.9% on fiscal 2024); net income was $2.0B (up 2.8%). The most recent quarter, ended Sep 30, 2026, brought revenue of $3.2B, up 13.7% year over year, with net income of $497M. Marketplace Revenues was the biggest single line by product or service: 82% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 19, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 29, 2026).
Source: 10-K FY2025, filed Feb 19, 2026
Source: 10-Q filed Apr 29, 2026 · 10-Q filed Aug 6, 2026 · 10-Q filed Oct 29, 2026
How it makes money
By product or service, FY2025
Source: 10-K FY2025, XBRL breakdown
By product or service in FY2025: Marketplace Revenues (82%) and Advertising Revenues (18%), as shares of total revenue. Total revenue was $11.1B.
Source: 10-K FY2025
By region, FY2025
Share is of the FY2025 total; the last column is the change from FY2024.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
Source: eBay 10-Q for the quarter ended Sep 30, 2026, filed Oct 29, 2026
By product or service
Source: eBay 10-Q for the quarter ended Sep 30, 2026, filed Oct 29, 2026
The bull case and the bear case
The bull case
- Revenue rose 7.9% in FY2025 to $11.1B, from $10.3B a year earlier. 10-K, FY2025
- Net income rose 2.8% in FY2025 to $2.0B, from $2.0B. 10-K, FY2025
- Diluted shares fell 6.6% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
- Total debt fell 9.1% in FY2025 to $6.7B. 10-K, FY2025
The bear case
- Operating cash flow fell 18.8% in FY2025 to $2.0B. 10-K, FY2025
- Net income in the quarter ended Sep 30, 2026 was $497M, down 20.9% on a year earlier. 10-Q, quarter ended Sep 30, 2026
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include consumer spending; competition; costs. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
eBay is in the broadline retail industry, part of the consumer discretionary sector. The SEC files it under Services-Business Services, Nec.
The full description of eBay's business is in Item 1 of its 10-K, linked below. This page shows its revenue by product or service and region.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the broadline retail industry. They are not a summary of eBay’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Consumer spendingShoppers cut back on non-essentials when budgets are tight.
- CompetitionRivals, online sellers and changing tastes pressure prices and traffic.
- CostsWages, freight and product costs can squeeze margins.
- Supply chain and tariffsImported goods make it sensitive to trade policy and shipping disruptions.
- Brand and reputationProduct problems or public criticism can hurt demand.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $10.1B | $10.3B | $11.1B |
| Net income | $2.8B | $2.0B | $2.0B |
| Operating cash flow | $2.4B | $2.4B | $2.0B |
| Cash & equivalents (year end) | $2.0B | $2.4B | $1.9B |
| Total debt (year end) | $7.7B | $7.4B | $6.7B |
| Diluted shares | 533M | 501M | 468M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Debt due within one year plus long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Net debt and net cash
- Debt-to-equity ratio
- The cash flow statement
- Risk factors (Item 1A)
- Market cap and enterprise value
- Extended-hours trading
- Constant currency
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Oct 29, 2026 | Sep 30, 2026 |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 |
| DEF 14A | Apr 30, 2026 | Jun 17, 2026 |
| 10-Q | Apr 29, 2026 | Mar 31, 2026 |
| 10-K | Feb 19, 2026 | Dec 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about eBay
How does eBay make money?
In fiscal 2025, revenue totaled $11.1B. By product or service in FY2025: Marketplace Revenues (82%) and Advertising Revenues (18%), as shares of total revenue. Total revenue was $11.1B. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
What was eBay's revenue in fiscal 2025?
Revenue came to $11.1B in the year ended Dec 31, 2025. Going back two years, it was $10.1B in fiscal 2023 and $10.3B in fiscal 2024, so the latest year was up 7.9%. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
Is eBay profitable?
Yes, by US accounting rules (GAAP): net income was $2.0B in fiscal 2025, up 2.8% from $2.0B a year earlier. For the quarter ended Sep 30, 2026, net income was $497M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
What did eBay report in its latest quarterly filing?
The 10-Q for the quarter ended Sep 30, 2026 shows revenue of $3.2B, against $2.8B in the same quarter a year before (up 13.7%), and net income of $497M, against $628M (down 20.9%). Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 29, 2026.
How much cash and debt does eBay have?
On Sep 30, 2026, cash and cash equivalents stood at $1.2B and total debt at $6.7B. Total debt here is debt due within one year plus long-term debt, at carrying value. Source: 10-Q filed Oct 29, 2026.
What are the main risks eBay faces?
eBay's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 19, 2026. Risks that are common among companies in the broadline retail industry include Consumer spending; competition; costs; supply chain and tariffs; brand and reputation. The first: Shoppers cut back on non-essentials when budgets are tight. Source: 10-K, Item 1A Risk Factors.
Where do these eBay numbers come from?
Two filings eBay made with the SEC: its fiscal 2025 10-K, filed Feb 19, 2026, and its 10-Q for the quarter ended Sep 30, 2026, filed Oct 29, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning eBay
- Citadel Advisors: 1,021,738 shares, reported value $114.2M at Jun 30, 2026 (−58.1% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Lindsell Train: 1,052,401 shares, reported value $111.6M at Sep 30, 2026 (−5.7% in shares since the filing for Jun 30, 2026). Form 13F filed Nov 2, 2026.
- Millennium Management: 600,989 shares, reported value $67.2M at Jun 30, 2026 (−20.5% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Two Sigma Investments: 31,222 shares, reported value $3.5M at Jun 30, 2026 (+293.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Bridgewater Associates: 14,786 shares, reported value $1.7M at Jun 30, 2026 (+268.6% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Point72 Asset Management: 4,500 shares, reported value $0.5M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in EBAY
- The editor holds no position in eBay (EBAY). As of Nov 11, 2026. The editor holds shares of Tesla (TSLA) and SpaceX in a long-term retirement account.
- Trading rule
- The editor does not buy or sell EBAY from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 4, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold EBAY, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| eBay | FY2025 | $11.1B | +7.9% | $2.0B |
| AmazonAMZN | FY2025 | $716.9B | +12.4% | $77.7B |
| TeslaTSLA | FY2025 | $94.8B | −2.9% | $3.8B |
| Home DepotHD | FY2025 | $164.7B | +3.2% | $14.2B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.