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 3,853 3,308 2,894
Change - -12.8% -14.57% -13% -23.34% 0.68% -14.14% -12.52%
Announcement Date 23/02/22 22/02/23 27/02/24 26/02/25 18/02/26 - - -
1USD in Million
Estimates

Cash Flow Forecast: eBay Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 444 449 456 458 525 549.7 585.5 591.1
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 23/02/22 22/02/23 27/02/24 26/02/25 18/02/26 - - -
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% 31.29% 32.08% 32.91%
EBIT Margin (%) 33.39% 30.01% 27.41% 28.12% 27.79% 27.71% 28.18% 28.6%
EBT Margin (%) 3.82% -16.35% 36.66% 22.15% 20.78% 21.49% 22.06% 23.1%
Net margin (%) 2.42% -12.96% 27.36% 19.21% 18.3% 17.22% 17.74% 18.66%
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% 137.72% 133.07%

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% 58.99% 63.06% 71.49%

Financial Health

        
Leverage (Debt/EBITDA) 1.93x 1.99x 1.81x 1.55x 1.1x 1.02x 0.82x 0.67x
Debt / Free cash flow 3.48x 3.08x 2.91x 2.55x 2.58x 1.41x 1.07x 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% 14.6% 14.45% 13.62%
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 1.473
Change - 22.22% 13.64% 8% - - 3.66% 13.56%
Book Value Per Share 1 16.46 9.56 12.37 10.95 - 10.73 11.54 10.68
Change - -41.92% 29.4% -11.48% - - 7.59% -7.53%
EPS 1 0.38 -2.27 5.19 3.94 4.34 4.58 5.092 5.724
Change - -697.37% 328.63% -24.08% 10.15% 5.54% 11.16% 12.42%
Nbr of stocks (in thousands) 626,004 542,659 519,000 479,000 452,000 448,000 448,000 448,000
Announcement Date 23/02/22 22/02/23 27/02/24 26/02/25 18/02/26 - - -
1USD
Estimates
2026 *2027 *
P/E ratio 22.8x 20.6x
PBR 9.75x 9.06x
EV / Sales 4.22x 3.98x
Yield 1.2% 1.24%

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
34
Last Close Price
104.65USD
Average target price
99.30USD
Spread / Average Target
-5.11%

Quarterly revenue - Rate of surprise