| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 44 | 22.2x | 17.8x | Around median | |
Growth | 48 | 14.7% | 7.1% | Around median | |
Quality | 93 | 18.4% | 4.5% | Top tier | |
Safety | 71 | 1.7x | 2.6x | Top tier | |
Capital Return | 64 | 1.11% | 2.12% | Around median | |
Momentum | 71 | 15.8% | 2.9% | Top tier | |
Sentiment | 43 | 17 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
eBay operates a global online marketplace connecting buyers with sellers across 2.6 billion listings, with an increasing focus on collectibles, auto parts, fashion, refurbished goods, consumer-to-consumer C2C commerce, and recommerce. The company generates revenue primarily from fees tied to the value of merchandise traded, with a take rate of 14% in Q2 FY2026, in addition to advertising, shipping services, and financial services; advertising revenue reached $596 million, including $570 million from first-party advertising, while shipping program revenue grew at a double-digit rate.
In Q2 FY2026, gross merchandise volume increased 14% to $22.4 billion and revenue rose 14% to $3.13 billion. According to EDGAR filings, gross profit was $2.3 billion, net income was $550 million, and GAAP earnings per share were $1.21, while the company recorded a non-GAAP gross margin of 74.1% and non-GAAP operating income of $893 million.
The strategic priorities—focus categories, C2C, and recommerce—accounted for more than 70% of gross merchandise volume in Q2 FY2026, and each grew by more than 20%. Focus categories alone exceeded 40% of gross merchandise volume for the first time after growing 26%, supported broadly by collectibles, eBay Motors, fashion, and refurbished goods, while gross merchandise volume in the United States increased 24% versus international growth of 4%.
Analyst consensus is Neutral, and the average price target is $117.68, close to the upper end of the 52-week range of $119.31, while the target range extends from $92 to $145. This wide disparity reflects disagreement over the value of growth in focus categories and Depop versus the Q3 FY2026 slowdown and investment pressure on margins, while the possibility of withdrawing the $56 billion acquisition offer adds a non-operational element to the revaluation.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
Gross merchandise volume increased 14% to $22.4 billion and revenue rose 14% to $3.13 billion in Q2 FY2026. Focus categories grew 26% and exceeded 40% of gross merchandise volume for the first time, with contributions from collectibles, eBay Motors, fashion, and refurbished goods. C2C and recommerce activities also grew by more than 20%, and the combined strategic priorities came to represent more than 70% of gross merchandise volume.
eBay closed the acquisition of Depop on July 30, 2026, for $1.4 billion in cash, including a purchase price of $1.2 billion and about $200 million in purchase price adjustments. The company expects Depop to add about 1.5 percentage points to gross merchandise volume growth and about one percentage point to revenue growth in FY2026. In contrast, it expects a negative impact of about two percentage points on non-GAAP operating income growth and about 2.5 percentage points on earnings per share growth for FY2026, with Depop expected to become accretive to non-GAAP operating income in FY2028.
eBay uses the AI-powered Magical Listing experience to reduce listing creation time and improve pricing and package-size estimation, and it has been used across hundreds of millions of listings. The AI-powered trading card scanner has also surpassed 80 million cumulative scans, and the company is working to integrate natural language into search across 2.6 billion listings. In advertising, relevance and recommendation models supported 24% growth in first-party advertising to $570 million in Q2 FY2026.
Automated analysis for informational purposes only — not investment advice.
Gross merchandise volume through eBay Live grew about eightfold year over year in Q2 FY2026, and management said the service is gaining share in the seven markets where it operates. More than 90% of regular livestreaming sellers increase their gross merchandise volume on eBay, with their average growth increase reaching about three times that of comparable sellers who do not use Live. First-time Live buyers in collectibles also spend nearly 70% more than their peers, and about half of the additional spending occurs outside the livestreaming events themselves.
eBay expects gross merchandise volume of between $22 billion and $22.4 billion and revenue of between $3.07 billion and $3.12 billion for Q3 FY2026. It expects a non-GAAP operating margin of between 25.1% and 25.6% and non-GAAP earnings per share of between $1.36 and $1.42, with pressure from Depop investments. For FY2026, it targets gross merchandise volume growth of between 11.5% and 12.5%, revenue growth of between 11% and 12%, and non-GAAP operating income and earnings per share growth of between 10% and 12%.
Risks include expected organic growth slowing to 7%–9% in Q3 FY2026, compared with gross merchandise volume growth of 14% in Q2, in addition to Depop's pressure on operating income and earnings per share. The company faces strong competition in C2C and secondhand fashion, requiring marketing and shipping-cost support, while the economic environment and the redirection of investments could pressure activity in Germany. The possibility of withdrawing the $56 billion acquisition offer and the wide range of analyst targets between $92 and $145 also add volatility to the stock's valuation.
