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 3,816 3,270 2,894
Change - -12.8% -14.57% -13% -23.34% -0.29% -14.31% -11.5%
Announcement Date 2/23/22 A 2/22/23 A 2/27/24 A 2/26/25 A 2/18/26 A - - -
1USD in Million
Estimates

Cash Flow Forecast: eBay Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 444 449 456 458 525 549.7 585.5 591.1
Change - 1.13% 1.56% 0.44% 14.63% 4.7% 6.52% 0.95%
Free Cash Flow (FCF) 1 2,213 2,178 1,975 1,956 1,484 2,736 3,086 3,275
Change - -1.58% -9.32% -0.96% -24.13% 84.37% 12.78% 6.15%
Announcement Date 2/23/22 A 2/22/23 A 2/27/24 A 2/26/25 A 2/18/26 A - - -
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% 31.26% 31.99% 32.56%
EBIT Margin (%) 33.39% 30.01% 27.41% 28.12% 27.79% 27.72% 28.27% 28.61%
EBT Margin (%) 3.82% -16.35% 36.66% 22.15% 20.78% 21.48% 22% 22.84%
Net margin (%) 2.42% -12.96% 27.36% 19.21% 18.3% 17.19% 17.67% 18.42%
FCF margin (%) 21.24% 22.24% 19.53% 19.02% 13.37% 22.74% 24.44% 24.83%
FCF / Net Income (%) 878.17% -171.63% 71.38% 99.04% 73.07% 132.28% 138.29% 134.8%

Profitability

        
ROA - -5.35% 13.03% 9.64% 10.99% 12.46% 13.2% 12.4%
ROE 39.9% 30.97% 47.92% 34.19% 41.56% 58.23% 60.9% 71.49%

Financial Health

        
Leverage (Debt/EBITDA) 1.93x 1.99x 1.81x 1.55x 1.1x 1.01x 0.81x 0.67x
Debt / Free cash flow 3.48x 3.08x 2.91x 2.55x 2.58x 1.39x 1.06x 0.88x

Capital Intensity

        
CAPEX / Current Assets (%) 4.26% 4.58% 4.51% 4.45% 4.73% 4.57% 4.64% 4.48%
CAPEX / EBITDA (%) 11.15% 13.28% 14.36% 14.24% 15.03% 14.62% 14.5% 13.76%
CAPEX / FCF (%) 20.06% 20.62% 23.09% 23.42% 35.38% 20.09% 18.98% 18.05%

Items per share

        
Cash flow per share 1 4.008 4.039 4.552 4.818 4.293 7.723 8.238 9.61
Change - 0.8% 12.68% 5.86% -10.91% 79.92% 6.66% 16.66%
Dividend per Share 1 0.72 0.88 1 1.08 - 1.252 1.297 1.5
Change - 22.22% 13.64% 8% - - 3.66% 15.62%
Book Value Per Share 1 16.46 9.56 12.37 10.95 - 10.96 12.08 10.68
Change - -41.92% 29.4% -11.48% - - 10.21% -11.65%
EPS 1 0.38 -2.27 5.19 3.94 4.34 4.57 5.15 5.637
Change - -697.37% 328.63% -24.08% 10.15% 5.3% 12.7% 9.46%
Nbr of stocks (in thousands) 626,004 542,659 519,000 479,000 452,000 448,000 448,000 448,000
Announcement Date 2/23/22 A 2/22/23 A 2/27/24 A 2/26/25 A 2/18/26 A - - -
1USD
Estimates
2026 *2027 *
P/E ratio 19.9x 17.6x
PBR 8.29x 7.52x
EV / Sales 3.7x 3.48x
Yield 1.38% 1.43%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
34
Last Close Price
90.86USD
Average target price
99.13USD
Spread / Average Target
+9.11%

Quarterly revenue - Rate of surprise

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