Projected Income Statement: eBay Inc.

Forecast Balance Sheet: eBay Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 7,703 6,717 5,738 4,992 3,827 4,835 4,543 4,227
Change - -12.8% -14.57% -13% -23.34% 26.34% -6.04% -6.96%
Announcement Date 2/23/22 2/22/23 2/27/24 2/26/25 2/18/26 - - -
1USD in Million
Estimates

Cash Flow Forecast: eBay Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 444 449 456 458 525 582.9 610.4 617.8
Change - 1.13% 1.56% 0.44% 14.63% 11.03% 4.71% 1.21%
Free Cash Flow (FCF) 1 2,213 2,178 1,975 1,956 1,484 2,741 2,931 3,271
Change - -1.58% -9.32% -0.96% -24.13% 84.71% 6.93% 11.61%
Announcement Date 2/23/22 2/22/23 2/27/24 2/26/25 2/18/26 - - -
1USD in Million
Estimates

Forecast Financial Ratios: eBay Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 38.21% 34.52% 31.4% 31.27% 31.46% 30.12% 30.36% 31.64%
EBIT Margin (%) 33.39% 30.01% 27.41% 28.12% 27.79% 27.24% 27.24% 28.21%
EBT Margin (%) 3.82% -16.35% 36.66% 22.15% 20.78% 19.78% 20.88% 22.04%
Net margin (%) 2.42% -12.96% 27.36% 19.21% 18.3% 16.06% 16.83% 17.92%
FCF margin (%) 21.24% 22.24% 19.53% 19.02% 13.37% 21.92% 22.01% 23.13%
FCF / Net Income (%) 878.17% -171.63% 71.38% 99.04% 73.07% 136.48% 130.75% 129.1%

Profitability

        
ROA - -5.35% 13.03% 9.64% 10.99% 13.38% 13.24% 14.73%
ROE 39.9% 30.97% 47.92% 34.19% 41.56% 55.6% 57.34% 58.58%

Financial Health

        
Leverage (Debt/EBITDA) 1.93x 1.99x 1.81x 1.55x 1.1x 1.28x 1.12x 0.94x
Debt / Free cash flow 3.48x 3.08x 2.91x 2.55x 2.58x 1.76x 1.55x 1.29x

Capital Intensity

        
CAPEX / Current Assets (%) 4.26% 4.58% 4.51% 4.45% 4.73% 4.66% 4.58% 4.37%
CAPEX / EBITDA (%) 11.15% 13.28% 14.36% 14.24% 15.03% 15.47% 15.09% 13.81%
CAPEX / FCF (%) 20.06% 20.62% 23.09% 23.42% 35.38% 21.27% 20.83% 18.89%

Items per share

        
Cash flow per share 1 4.008 4.039 4.552 4.818 4.293 7.691 8.758 9.87
Change - 0.8% 12.68% 5.86% -10.91% 79.17% 13.87% 12.7%
Dividend per Share 1 0.72 0.88 1 1.08 1.16 1.231 1.297 1.395
Change - 22.22% 13.64% 8% 7.41% 6.11% 5.39% 7.52%
Book Value Per Share 1 16.46 9.56 12.37 10.95 10.28 9.843 10.81 12.41
Change - -41.92% 29.4% -11.48% -6.14% -4.23% 9.8% 14.82%
EPS 1 0.38 -2.27 5.19 3.94 4.34 4.419 5.06 5.841
Change - -697.37% 328.63% -24.08% 10.15% 1.83% 14.51% 15.43%
Nbr of stocks (in thousands) 626,004 542,659 519,000 479,000 452,000 445,000 445,000 445,000
Announcement Date 2/23/22 2/22/23 2/27/24 2/26/25 2/18/26 - - -
1USD
Estimates
2026 *2027 *
P/E 22.8x 19.9x
PBR 10.3x 9.34x
EV / Sales 3.98x 3.71x
Yield 1.22% 1.29%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
31
Last Close Price
100.94USD
Average target price
115.92USD
Spread / Average Target
+14.84%

Quarterly revenue - Rate of surprise