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 3,747 3,214 2,948
Change - -12.8% -14.57% -13% -23.34% -2.09% -14.22% -8.28%
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 1 444 449 456 458 525 508 574.5 589.7
Change - 1.13% 1.56% 0.44% 14.63% -3.23% 13.08% 2.64%
Free Cash Flow (FCF) 1 2,213 2,178 1,975 1,956 1,484 3,049 3,287 3,748
Change - -1.58% -9.32% -0.96% -24.13% 105.44% 7.82% 14.04%
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% 30.66% 31.73% 32.89%
EBIT Margin (%) 33.39% 30.01% 27.41% 28.12% 27.79% 27.89% 28.46% 28.86%
EBT Margin (%) 3.82% -16.35% 36.66% 22.15% 20.78% 21.02% 22.58% 23.29%
Net margin (%) 2.42% -12.96% 27.36% 19.21% 18.3% 16.97% 17.94% 18.4%
FCF margin (%) 21.24% 22.24% 19.53% 19.02% 13.37% 25.11% 25.84% 28.33%
FCF / Net Income (%) 878.17% -171.63% 71.38% 99.04% 73.07% 147.94% 144.08% 154.02%

Profitability

        
ROA - -5.35% 13.03% 9.64% 10.99% 15.5% 15.76% -
ROE 39.9% 30.97% 47.92% 34.19% 41.56% 55.23% 53.37% 47.7%

Financial Health

        
Leverage (Debt/EBITDA) 1.93x 1.99x 1.81x 1.55x 1.1x 1.01x 0.8x 0.68x
Debt / Free cash flow 3.48x 3.08x 2.91x 2.55x 2.58x 1.23x 0.98x 0.79x

Capital Intensity

        
CAPEX / Current Assets (%) 4.26% 4.58% 4.51% 4.45% 4.73% 4.18% 4.52% 4.46%
CAPEX / EBITDA (%) 11.15% 13.28% 14.36% 14.24% 15.03% 13.65% 14.23% 13.55%
CAPEX / FCF (%) 20.06% 20.62% 23.09% 23.42% 35.38% 16.66% 17.48% 15.73%

Items per share

        
Cash flow per share 1 4.008 4.039 4.552 4.818 4.293 7.89 8.9 9.82
Change - 0.8% 12.68% 5.86% -10.91% 83.8% 12.8% 10.34%
Dividend per Share 1 0.72 0.88 1 1.08 1.16 1.238 1.296 1.378
Change - 22.22% 13.64% 8% 7.41% 6.76% 4.69% 6.26%
Book Value Per Share 1 16.46 9.56 12.37 10.95 10.28 11.95 12.28 10.5
Change - -41.92% 29.4% -11.48% -6.14% 16.27% 2.73% -14.47%
EPS 1 0.38 -2.27 5.19 3.94 4.34 4.549 5.195 5.726
Change - -697.37% 328.63% -24.08% 10.15% 4.81% 14.2% 10.22%
Nbr of stocks (in thousands) 626,004 542,659 519,000 479,000 452,000 444,000 444,000 444,000
Announcement Date 2/23/22 2/22/23 2/27/24 2/26/25 2/18/26 - - -
1USD
Estimates
2026 *2027 *
P/E 25.8x 22.6x
PBR 9.82x 9.56x
EV / Sales 4.6x 4.35x
Yield 1.06% 1.1%

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
HOLD
Number of Analysts
31
Last Close Price
117.33USD
Average target price
108.24USD
Spread / Average Target
-7.75%

Quarterly revenue - Rate of surprise