eBay Inc.

EBAY · Technology · $55.2B mkt cap · FY2025 filings · · Shallow moat ·

Doesn't clear the bar

Shallow moat
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The five investor questions

38

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $10.4B to $11.1B, increasing; diluted EPS 20.54 to 4.34, decreasing.

99

Median gross margin 75.6% over 10y, very stable.

65

Median ROIC 14.4%, above the 12% hurdle in 70% of years.

46

Net debt/EBITDA n/ax, interest coverage 9x.

40

Owner earnings changed -13.2%/yr over up to the ten most recent annual observations.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today
145% above value if growth stopped today
$2.0B
$50.26
$50.26
$122.91
145% above value if growth stopped today

What today’s price assumes: owner earnings growing ~20%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).

How to read this

We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 255% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Oct 16, 2026.

Exactly which 50 companies?

FTNT, IBEX, META, MEDP, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, CPRT, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, DECK, MORN, INTU, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

20 years of fundamentals

The business, in plain English

eBay Inc. booked $11.1B of revenue in FY2025 in the Technology sector and kept 71.5% of it as gross profit — a high-margin business by that measure. After every other cost, 18.3% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $8.5B (FY2008) to $11.1B (FY2025) — about 1.6% a year compounded over 17 years.

It earned 71.7% on invested capital in the latest filed year, FY2025. Across the full 19-year measurable filed record, median ROIC was 13.2%. Over the v3 recent window (10 measurable filed years), median ROIC was 14.4%. The Returns on Capital filter above scores it 65/100.

EBAY's latest filed year, FY2025, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.

Put together: Pricing Power is the strongest of the five filters (99/100) and Business Trend the weakest (38/100), which is how EBAY lands at 58/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2006–FY2025 · 20 fiscal years, normalized from EBAY’s SEC filings

Sales, as filed$11.1B FY2025
$0$10B2006201320202025
Revenue kept after cost of goods71.5% FY2025
0%50%2006201320202025
Standard ROIC or separately labeled Operating ROICStandard ROIC 12.1% FY2023

Exact FY and FY-1 financing invested-capital inputs are required.

0%10%20%2006201320202025
Cash an owner could take out$2.0B FY2025
$0$10B2006201320202025

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Flagship explainer

How eBay Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$11.1B · 100%Cost of revenue$3.2B · 29%Gross profit$7.9B · 71%Operating income$2.3B · 21%Income before tax$2.3B · 21%Income tax$311M · 3%Net income$2.0B · 18%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$11.1B100%
Cost of revenue$3.2B29%
$7.9B71%
$2.3B21%
Income before tax$2.3B21%
Income tax$311M3%
$2.0B18%
Source: · event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
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Flagship explainer

What eBay Inc. owns — and owes

eBay Inc.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$17.6B100%
Cash and equivalents$1.9B11%
Stockholders’ equity$4.6B26%
Source: · event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set

Flagship explainer

What drives eBay Inc.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity42%Tax burden88%net income ÷ pretax incomeInterest burden101%pretax ÷ operating incomeOperating margin21%operating income ÷ revenueAsset turnover0.60×revenue ÷ average assetsEquity multiplier3.78×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$2.0BFY2025
Income before tax$2.3BFY2025
Operating income$2.3BFY2025
$11.1BFY2025
Ending assets$17.6BFY2025
Beginning assets$19.4BFY2024
$4.6BFY2025
$5.2BFY2024
Source: · event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
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Flagship explainer

Where eBay Inc.'s cash went

eBay Inc.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed lineValue% of cash from operationsSource
Cash from operations$2.0B100%
Depreciation and amortization$421M21%
Source: · event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding eBay Inc.

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

1 holding1 exited16 not holding18/19 resolved1 not retrieved

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Yacktman Asset Management1,262,742 shares$141M · 2% of eligible reported 13FTrimmed · -266,452 shares (−17%)
Dodge & CoxExited · no position reportedPrior: 11,750 sharesExited · -11,750 shares (−100%)
Abrams CapitalNo position reportedNo position reported
Akre CapitalNo position reportedNo position reported
Baupost GroupNo position reportedNo position reported
Berkshire HathawayNo position reportedNo position reported
Brave Warrior AdvisorsNo position reportedNo position reported
First EagleNo position reportedNo position reported
FundsmithNo position reportedNo position reported
Gardner Russo & QuinnNo position reportedNo position reported
Gates Foundation TrustNo position reportedNo position reported
Mairs & PowerNo position reportedNo position reported
Markel / Markel-GaynerNo position reportedNo position reported
Oakmark / Harris AssociatesNo position reportedNo position reported
Polen CapitalNo position reportedNo position reported
Sequoia / Ruane CunniffNo position reportedNo position reported
Southeastern Asset ManagementNo position reportedNo position reported
Tweedy, BrowneNo position reportedNo position reported
Pershing SquareNot retrievedComparison not retrievedFiling not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source:
37 SEC filings
  1. 13F-HR · Q1 2026Filing detailsAccession 0000813917-26-000038 · filed May 15, 2026
  2. 13F-HR · Q2 2026Filing detailsAccession 0000813917-26-000042 · filed Aug 14, 2026
  3. 13F-HR · Q1 2026Filing detailsAccession 0000860643-26-000003 · filed May 13, 2026
  4. 13F-HR · Q2 2026Filing detailsAccession 0000860643-26-000005 · filed Aug 13, 2026
  5. 13F-HR · Q1 2026Filing detailsAccession 0000905567-26-000002 · filed May 1, 2026
  6. 13F-HR · Q2 2026Filing detailsAccession 0000905567-26-000003 · filed Aug 11, 2026
  7. 13F-HR · Q1 2026Filing detailsAccession 0000919574-26-003132 · filed May 15, 2026
  8. 13F-HR · Q2 2026Filing detailsAccession 0000919574-26-005176 · filed Aug 14, 2026
  9. 13F-HR · Q1 2026Filing detailsAccession 0001061768-26-000007 · filed May 14, 2026
  10. 13F-HR · Q2 2026Filing detailsAccession 0001061768-26-000010 · filed Aug 13, 2026
  11. 13F-HR · Q1 2026Filing detailsAccession 0001096343-26-000044 · filed May 1, 2026
  12. 13F-HR · Q2 2026Filing detailsAccession 0001096343-26-000065 · filed Jul 31, 2026
  13. 13F-HR · Q1 2026Filing detailsAccession 0001104659-26-062592 · filed May 15, 2026
  14. 13F-HR · Q2 2026Filing detailsAccession 0001104659-26-097175 · filed Aug 14, 2026
  15. 13F-HR · Q1 2026Filing detailsAccession 0001112520-26-000009 · filed May 14, 2026
  16. 13F-HR · Q2 2026Filing detailsAccession 0001112520-26-000014 · filed Aug 14, 2026
  17. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001819 · filed May 14, 2026
  18. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001911 · filed May 14, 2026
  19. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001966 · filed May 14, 2026
  20. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-002294 · filed May 15, 2026
  21. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003035 · filed Aug 4, 2026
  22. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003402 · filed Aug 13, 2026
  23. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003496 · filed Aug 14, 2026
  24. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003728 · filed Aug 14, 2026
  25. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-208439 · filed May 6, 2026
  26. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-223352 · filed May 14, 2026
  27. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-226661 · filed May 15, 2026
  28. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-340443 · filed Aug 7, 2026
  29. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-349535 · filed Aug 13, 2026
  30. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-352200 · filed Aug 14, 2026
  31. 13F-HR/A · Q1 2026 · Amendment RESTATEMENTFiling detailsAccession 0001325447-26-000018 · filed May 14, 2026
  32. 13F-HR · Q2 2026Filing detailsAccession 0001325447-26-000020 · filed Aug 5, 2026
  33. 13F-HR/A · Q2 2026 · Amendment NEW HOLDINGSFiling detailsAccession 0001325447-26-000033 · filed Aug 24, 2026
  34. 13F-HR · Q1 2026Filing detailsAccession 0001398344-26-009296 · filed May 15, 2026
  35. 13F-HR · Q2 2026Filing detailsAccession 0001398344-26-014641 · filed Aug 14, 2026
  36. 13F-HR · Q1 2026Filing detailsAccession 0001569205-26-000005 · filed May 15, 2026
  37. 13F-HR · Q2 2026Filing detailsAccession 0001569205-26-000012 · filed Aug 14, 2026
· event Jun 30, 2026 · retrieved Oct 16, 2026

Flagship explainer

What eBay Inc. insiders reported

Records still being gathered — partial as of retrieval Oct 16, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

29 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale57.5 / 100
0406080100WideNarrowShallowNo moatJul 17, 2026Oct 16, 2026

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

  1. Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  2. Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  3. Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

Records still being gathered — partial as of retrieval Oct 16, 2026.

4 filings were skipped because the SEC primary document returned 404; the omission is disclosed and aggregates are withheld.

Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (87 versus 13). The filing codes alone do not establish that every such row arose from a compensation plan.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

InsiderShares owned afterDateFiling detail
IANNONE JAMIEDirector, President and CEOOpen-market or private sale (S)Table I · Disposed · Common Stock11,110$106.3244$1,181,264See lot detailOct 6, 2026
3 filed lots
  • Table I · Common Stock: 1,439 shares at $105.28 · code S · owned after 224,830 ·
  • Table I · Common Stock: 6,830 shares at $106.28 · code S · owned after 218,000 ·
  • Table I · Common Stock: 2,841 shares at $106.96 · code S · owned after 215,159 ·
IANNONE JAMIEDirector, President and CEOOpen-market or private sale (S)Table I · Disposed · Common Stock11,110$107.0823$1,189,684See lot detailOct 5, 2026
2 filed lots
  • Table I · Common Stock: 1,145 shares at $106.58 · code S · owned after 236,234 ·
  • Table I · Common Stock: 9,965 shares at $107.14 · code S · owned after 226,269 ·
IANNONE JAMIEDirector, President and CEOExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 4 paired events36,979—Exercise or conversion of derivative security (M)—See lot detailSep 15, 2026
4 filed lots
  • Table I · Common Stock: 11,666 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 231,547 · Paired event: 11,666 Restricted Stock Units -8 → 11,666 Common Stock ·
  • Table I · Common Stock: 9,264 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 240,811 · Paired event: 9,264 Restricted Stock Units -11 → 9,264 Common Stock ·
  • Table I · Common Stock: 8,648 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 249,459 · Paired event: 8,648 Restricted Stock Units -13 → 8,648 Common Stock ·
  • Table I · Common Stock: 7,401 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 256,860 · Paired event: 7,401 Restricted Stock Units -15 → 7,401 Common Stock ·
IANNONE JAMIEDirector, President and CEOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -13 · 1 paired event8,648—Exercise or conversion of derivative security (M)—86,480Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -13: 8,648 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 86,480 · Paired event: 8,648 Restricted Stock Units -13 → 8,648 Common Stock ·
IANNONE JAMIEDirector, President and CEOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -15 · 1 paired event7,401—Exercise or conversion of derivative security (M)—103,621Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -15: 7,401 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 103,621 · Paired event: 7,401 Restricted Stock Units -15 → 7,401 Common Stock ·
IANNONE JAMIEDirector, President and CEOPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock19,481$108.03$2,104,532See lot detailSep 15, 2026
4 filed lots
  • Table I · Common Stock: 6,075 shares at $108.03 · code F · owned after 250,785 ·
  • Table I · Common Stock: 4,865 shares at $108.03 · code F · owned after 245,920 ·
  • Table I · Common Stock: 4,582 shares at $108.03 · code F · owned after 241,338 ·
  • Table I · Common Stock: 3,959 shares at $108.03 · code F · owned after 237,379 ·
IANNONE JAMIEDirector, President and CEOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -8 · 1 paired event11,666—Exercise or conversion of derivative security (M)—23,334Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -8: 11,666 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 23,334 · Paired event: 11,666 Restricted Stock Units -8 → 11,666 Common Stock ·
IANNONE JAMIEDirector, President and CEOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -11 · 1 paired event9,264—Exercise or conversion of derivative security (M)—55,588Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -11: 9,264 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 55,588 · Paired event: 9,264 Restricted Stock Units -11 → 9,264 Common Stock ·
WELLINGTON SAMANTHASVP, Chief Legal OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events3,387—Exercise or conversion of derivative security (M)—See lot detailSep 15, 2026
2 filed lots
  • Table I · Common Stock: 1,880 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 18,028 · Paired event: 1,880 Restricted Stock Units -3 → 1,880 Common Stock ·
  • Table I · Common Stock: 1,507 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 19,535 · Paired event: 1,507 Restricted Stock Units -4 → 1,507 Common Stock ·
WELLINGTON SAMANTHASVP, Chief Legal OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,804$108.03$194,886See lot detailSep 15, 2026
2 filed lots
  • Table I · Common Stock: 997 shares at $108.03 · code F · owned after 18,538 ·
  • Table I · Common Stock: 807 shares at $108.03 · code F · owned after 17,731 ·
WELLINGTON SAMANTHASVP, Chief Legal OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -3 · 1 paired event1,880—Exercise or conversion of derivative security (M)—18,800Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -3: 1,880 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 18,800 · Paired event: 1,880 Restricted Stock Units -3 → 1,880 Common Stock ·
WELLINGTON SAMANTHASVP, Chief Legal OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -4 · 1 paired event1,507—Exercise or conversion of derivative security (M)—21,109Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -4: 1,507 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 21,109 · Paired event: 1,507 Restricted Stock Units -4 → 1,507 Common Stock ·
Boone CorneliusSVP, Chief People OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 4 paired events8,897—Exercise or conversion of derivative security (M)—See lot detailSep 15, 2026
4 filed lots
  • Table I · Common Stock: 2,778 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 71,962 · Paired event: 2,778 Restricted Stock Units -5 → 2,778 Common Stock ·
  • Table I · Common Stock: 2,206 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 74,168 · Paired event: 2,206 Restricted Stock Units -6 → 2,206 Common Stock ·
  • Table I · Common Stock: 2,200 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 76,368 · Paired event: 2,200 Restricted Stock Units -8 → 2,200 Common Stock ·
  • Table I · Common Stock: 1,713 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 78,081 · Paired event: 1,713 Restricted Stock Units -10 → 1,713 Common Stock ·
Boone CorneliusSVP, Chief People OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -8 · 1 paired event2,200—Exercise or conversion of derivative security (M)—21,996Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -8: 2,200 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 21,996 · Paired event: 2,200 Restricted Stock Units -8 → 2,200 Common Stock ·
Boone CorneliusSVP, Chief People OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -10 · 1 paired event1,713—Exercise or conversion of derivative security (M)—23,986Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -10: 1,713 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 23,986 · Paired event: 1,713 Restricted Stock Units -10 → 1,713 Common Stock ·
Boone CorneliusSVP, Chief People OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock3,379$108.03$365,033See lot detailSep 15, 2026
4 filed lots
  • Table I · Common Stock: 1,033 shares at $108.03 · code F · owned after 77,048 ·
  • Table I · Common Stock: 833 shares at $108.03 · code F · owned after 76,215 ·
  • Table I · Common Stock: 844 shares at $108.03 · code F · owned after 75,371 ·
  • Table I · Common Stock: 669 shares at $108.03 · code F · owned after 74,702 ·
Boone CorneliusSVP, Chief People OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -5 · 1 paired event2,778—Exercise or conversion of derivative security (M)—5,556Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -5: 2,778 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 5,556 · Paired event: 2,778 Restricted Stock Units -5 → 2,778 Common Stock ·
Boone CorneliusSVP, Chief People OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -6 · 1 paired event2,206—Exercise or conversion of derivative security (M)—13,236Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -6: 2,206 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 13,236 · Paired event: 2,206 Restricted Stock Units -6 → 2,206 Common Stock ·
Loeger Julie ASVP, Chief Growth OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 4 paired events12,309—Exercise or conversion of derivative security (M)—See lot detailSep 15, 2026
4 filed lots
  • Table I · Common Stock: 2,914 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 125,903 · Paired event: 2,914 Restricted Stock Units -8 → 2,914 Common Stock ·
  • Table I · Common Stock: 2,124 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 128,027 · Paired event: 2,124 Restricted Stock Units -10 → 2,124 Common Stock ·
  • Table I · Common Stock: 3,472 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 119,190 · Paired event: 3,472 Restricted Stock Units -5 → 3,472 Common Stock ·
  • Table I · Common Stock: 3,799 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 122,989 · Paired event: 3,799 Restricted Stock Units -6 → 3,799 Common Stock ·
Loeger Julie ASVP, Chief Growth OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock5,294$108.03$571,911See lot detailSep 15, 2026
4 filed lots
  • Table I · Common Stock: 1,468 shares at $108.03 · code F · owned after 126,559 ·
  • Table I · Common Stock: 1,627 shares at $108.03 · code F · owned after 124,932 ·
  • Table I · Common Stock: 1,264 shares at $108.03 · code F · owned after 123,668 ·
  • Table I · Common Stock: 935 shares at $108.03 · code F · owned after 122,733 ·
Loeger Julie ASVP, Chief Growth OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -5 · 1 paired event3,472—Exercise or conversion of derivative security (M)—6,945Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -5: 3,472 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 6,945 · Paired event: 3,472 Restricted Stock Units -5 → 3,472 Common Stock ·
Loeger Julie ASVP, Chief Growth OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -6 · 1 paired event3,799—Exercise or conversion of derivative security (M)—22,794Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -6: 3,799 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 22,794 · Paired event: 3,799 Restricted Stock Units -6 → 3,799 Common Stock ·
Loeger Julie ASVP, Chief Growth OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -8 · 1 paired event2,914—Exercise or conversion of derivative security (M)—29,140Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -8: 2,914 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 29,140 · Paired event: 2,914 Restricted Stock Units -8 → 2,914 Common Stock ·
Loeger Julie ASVP, Chief Growth OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -10 · 1 paired event2,124—Exercise or conversion of derivative security (M)—29,743Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -10: 2,124 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 29,743 · Paired event: 2,124 Restricted Stock Units -10 → 2,124 Common Stock ·
Sweetnam Jordan Douglas BradleySVP, Chief Commercial OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events6,900—Exercise or conversion of derivative security (M)—See lot detailSep 15, 2026
2 filed lots
  • Table I · Common Stock: 3,611 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 39,157 · Paired event: 3,611 Restricted Stock Units -1 → 3,611 Common Stock ·
  • Table I · Common Stock: 3,289 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 42,446 · Paired event: 3,289 Restricted Stock Units -5 → 3,289 Common Stock ·
Sweetnam Jordan Douglas BradleySVP, Chief Commercial OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock3,641$108.03$393,337See lot detailSep 15, 2026
2 filed lots
  • Table I · Common Stock: 1,881 shares at $108.03 · code F · owned after 40,565 ·
  • Table I · Common Stock: 1,760 shares at $108.03 · code F · owned after 38,805 ·
Sweetnam Jordan Douglas BradleySVP, Chief Commercial OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -1 · 1 paired event3,611—Exercise or conversion of derivative security (M)—7,223Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -1: 3,611 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 7,223 · Paired event: 3,611 Restricted Stock Units -1 → 3,611 Common Stock ·
Sweetnam Jordan Douglas BradleySVP, Chief Commercial OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -5 · 1 paired event3,289—Exercise or conversion of derivative security (M)—46,054Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -5: 3,289 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 46,054 · Paired event: 3,289 Restricted Stock Units -5 → 3,289 Common Stock ·
SPENCER REBECCAVP, Chief Accounting OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 7 paired events3,574—Exercise or conversion of derivative security (M)—See lot detailSep 15, 2026
7 filed lots
  • Table I · Common Stock: 555 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 10,290 · Paired event: 555 Restricted Stock Units -6 → 555 Common Stock ·
  • Table I · Common Stock: 188 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 10,478 · Paired event: 188 Restricted Stock Units -9 → 188 Common Stock ·
  • Table I · Common Stock: 373 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 10,851 · Paired event: 373 Restricted Stock Units -5 → 373 Common Stock ·
  • Table I · Common Stock: 752 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 11,603 · Paired event: 752 Restricted Stock Units -8 → 752 Common Stock ·
  • Table I · Common Stock: 919 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 12,522 · Paired event: 919 Restricted Stock Units -7 → 919 Common Stock ·
  • Table I · Common Stock: 205 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 12,727 · Paired event: 205 Restricted Stock Units -11 → 205 Common Stock ·
  • Table I · Common Stock: 582 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 13,309 · Paired event: 582 Restricted Stock Units -10 → 582 Common Stock ·
SPENCER REBECCAVP, Chief Accounting OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,362$108.03$147,137See lot detailSep 15, 2026
7 filed lots
  • Table I · Common Stock: 289 shares at $108.03 · code F · owned after 12,601 ·
  • Table I · Common Stock: 347 shares at $108.03 · code F · owned after 12,254 ·
  • Table I · Common Stock: 80 shares at $108.03 · code F · owned after 12,174 ·
  • Table I · Common Stock: 227 shares at $108.03 · code F · owned after 11,947 ·
  • Table I · Common Stock: 207 shares at $108.03 · code F · owned after 13,102 ·
  • Table I · Common Stock: 73 shares at $108.03 · code F · owned after 13,029 ·
  • Table I · Common Stock: 139 shares at $108.03 · code F · owned after 12,890 ·
SPENCER REBECCAVP, Chief Accounting OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -5 · 1 paired event373—Exercise or conversion of derivative security (M)—747Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -5: 373 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 747 · Paired event: 373 Restricted Stock Units -5 → 373 Common Stock ·
SPENCER REBECCAVP, Chief Accounting OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -6 · 1 paired event555—Exercise or conversion of derivative security (M)—1,112Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -6: 555 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 1,112 · Paired event: 555 Restricted Stock Units -6 → 555 Common Stock ·
SPENCER REBECCAVP, Chief Accounting OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -7 · 1 paired event919—Exercise or conversion of derivative security (M)—5,515Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -7: 919 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 5,515 · Paired event: 919 Restricted Stock Units -7 → 919 Common Stock ·
SPENCER REBECCAVP, Chief Accounting OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -8 · 1 paired event752—Exercise or conversion of derivative security (M)—7,520Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -8: 752 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 7,520 · Paired event: 752 Restricted Stock Units -8 → 752 Common Stock ·
SPENCER REBECCAVP, Chief Accounting OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -9 · 1 paired event188—Exercise or conversion of derivative security (M)—1,880Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -9: 188 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 1,880 · Paired event: 188 Restricted Stock Units -9 → 188 Common Stock ·
SPENCER REBECCAVP, Chief Accounting OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -10 · 1 paired event582—Exercise or conversion of derivative security (M)—8,156Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -10: 582 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 8,156 · Paired event: 582 Restricted Stock Units -10 → 582 Common Stock ·
SPENCER REBECCAVP, Chief Accounting OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -11 · 1 paired event205—Exercise or conversion of derivative security (M)—2,879Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -11: 205 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 2,879 · Paired event: 205 Restricted Stock Units -11 → 205 Common Stock ·
Rawashdeh MazenSVP, Chief Technology OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 4 paired events10,234—Exercise or conversion of derivative security (M)—See lot detailSep 15, 2026
4 filed lots
  • Table I · Common Stock: 3,166 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 35,290 · Paired event: 3,166 Restricted Stock Units -1 → 3,166 Common Stock ·
  • Table I · Common Stock: 2,444 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 37,734 · Paired event: 2,444 Restricted Stock Units -3 → 2,444 Common Stock ·
  • Table I · Common Stock: 2,500 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 40,234 · Paired event: 2,500 Restricted Stock Units -2 → 2,500 Common Stock ·
  • Table I · Common Stock: 2,124 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 42,358 · Paired event: 2,124 Restricted Stock Units -5 → 2,124 Common Stock ·
Rawashdeh MazenSVP, Chief Technology OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -3 · 1 paired event2,444—Exercise or conversion of derivative security (M)—24,440Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -3: 2,444 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 24,440 · Paired event: 2,444 Restricted Stock Units -3 → 2,444 Common Stock ·
Rawashdeh MazenSVP, Chief Technology OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -5 · 1 paired event2,124—Exercise or conversion of derivative security (M)—29,743Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -5: 2,124 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 29,743 · Paired event: 2,124 Restricted Stock Units -5 → 2,124 Common Stock ·
Rawashdeh MazenSVP, Chief Technology OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock5,394$108.03$582,714See lot detailSep 15, 2026
4 filed lots
  • Table I · Common Stock: 1,649 shares at $108.03 · code F · owned after 40,709 ·
  • Table I · Common Stock: 1,295 shares at $108.03 · code F · owned after 39,414 ·
  • Table I · Common Stock: 1,313 shares at $108.03 · code F · owned after 38,101 ·
  • Table I · Common Stock: 1,137 shares at $108.03 · code F · owned after 36,964 ·
Rawashdeh MazenSVP, Chief Technology OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -1 · 1 paired event3,166—Exercise or conversion of derivative security (M)—6,334Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -1: 3,166 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 6,334 · Paired event: 3,166 Restricted Stock Units -1 → 3,166 Common Stock ·
Rawashdeh MazenSVP, Chief Technology OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -2 · 1 paired event2,500—Exercise or conversion of derivative security (M)—15,000Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -2: 2,500 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 15,000 · Paired event: 2,500 Restricted Stock Units -2 → 2,500 Common Stock ·
Alford PeggySVP, Chief Financial OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events5,371—Exercise or conversion of derivative security (M)—See lot detailSep 15, 2026
2 filed lots
  • Table I · Common Stock: 2,904 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 26,437 · Paired event: 2,904 Restricted Stock Units -1 → 2,904 Common Stock ·
  • Table I · Common Stock: 2,467 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 28,904 · Paired event: 2,467 Restricted Stock Units -3 → 2,467 Common Stock ·
Alford PeggySVP, Chief Financial OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock2,716$108.03$293,409See lot detailSep 15, 2026
2 filed lots
  • Table I · Common Stock: 1,463 shares at $108.03 · code F · owned after 27,441 ·
  • Table I · Common Stock: 1,253 shares at $108.03 · code F · owned after 26,188 ·
Alford PeggySVP, Chief Financial OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -1 · 1 paired event2,904—Exercise or conversion of derivative security (M)—31,946Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -1: 2,904 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 31,946 · Paired event: 2,904 Restricted Stock Units -1 → 2,904 Common Stock ·
Alford PeggySVP, Chief Financial OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units -3 · 1 paired event2,467—Exercise or conversion of derivative security (M)—34,540Sep 15, 2026
1 filed lot
  • Table II · Restricted Stock Units -3: 2,467 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 34,540 · Paired event: 2,467 Restricted Stock Units -3 → 2,467 Common Stock ·
IANNONE JAMIEDirector, President and CEOOpen-market or private sale (S)Table I · Disposed · Common Stock11,110$103.9946$1,155,380See lot detailSep 9, 2026
5 filed lots
  • Table I · Common Stock: 810 shares at $105.55 · code S · owned after 219,881 ·
  • Table I · Common Stock: 1,050 shares at $102.06 · code S · owned after 229,941 ·
  • Table I · Common Stock: 2,214 shares at $102.85 · code S · owned after 227,727 ·
  • Table I · Common Stock: 3,258 shares at $103.82 · code S · owned after 224,469 ·
  • Table I · Common Stock: 3,778 shares at $105.02 · code S · owned after 220,691 ·
IANNONE JAMIEDirector, President and CEOOpen-market or private sale (S)Table I · Disposed · Common Stock6,330$101.0009$639,336See lot detailSep 8, 2026
3 filed lots
  • Table I · Common Stock: 3,844 shares at $100.48 · code S · owned after 238,257 ·
  • Table I · Common Stock: 1,331 shares at $101.30 · code S · owned after 236,926 ·
  • Table I · Common Stock: 1,155 shares at $102.39 · code S · owned after 235,771 ·

Source-event as of . Retrieved .

Track record

How eBay Inc.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

Point-in-time scores 2011–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored EBAY on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score100200500Indexed price · log scale (2012 = 100)201120142017202020232026

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the 4 years EBAY rated Wide-moat (2011, 2012, 2013 and 2014), the median forward total return that followed — measured only after each year’s filings were public — was:

  • 1 year 8% vs the S&P 500’s 13% (price basis) · median over 4 years
  • 3 years 46% vs the S&P 500’s 34% (price basis) · median over 4 years
  • 5 years 62% vs the S&P 500’s 68% (price basis) · median over 4 years

These are medians computed from the data, not a claim about any one year. The company figures are total returns (dividends reinvested); the S&P 500 is the price-only ^GSPC index, which excludes dividends and so understates the index — the gap flatters the company. A quality rating is not a return forecast, and past returns don’t predict future ones. Educational only, not investment advice.

Technology context

#215 of 752 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #213NTCT NETSCOUT SYSTEMS INC57.8 out of 100, Shallow moatShallow moat
  2. #214INVU Investview, Inc.57.7 out of 100, Shallow moatShallow moat
  3. #216DASH DOORDASH, INC.57.5 out of 100, Shallow moatShallow moat
  4. #217TBLA TABOOLA.COM LTD.57.2 out of 100, Shallow moatShallow moat

Compare EBAY with its nearest peers →All Technology companies on the Index →

Common questions about EBAY

Does eBay Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores eBay Inc. (EBAY) 57.5 out of 100 — a Shallow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 38, pricing power 99, returns on capital 65, balance-sheet safety 46, capital allocation 40.
Is EBAY trading below the conservative owner-earnings estimate?
The value if growth stopped today — a zero-growth baseline — is $50.26 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $122.91, that is 145% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has EBAY's Moat Score changed over time?
The record logs 29 readings since Jul 17, 2026; the latest reads 57.5 out of 100 (shallow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.