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eBay EBAY Operating margin

Operating margin at other companies

Walmart
 logo
Walmart WMT
4.2%-0.2pp
Amazon logo
AmazonAMZN
11.5%+0.5pp
Shopify logo
ShopifySHOP
13.3%+0.6pp
Mercado Libre logo
Mercado LibreMELI
9.6%-3.2pp
PayPal Holdings, Inc. logo
PayPal Holdings, Inc.PYPL
17.9%0.0pp
Booking Holdings Inc. logo
Booking Holdings Inc.BKNG
32.6%+0.1pp

Other financials

Income statement

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Revenue$3.1B+19.5%
Gross profit$2.3B+21.1%
Operating income$611.0M0.0%
Net income$512.0M+2.6%
EPS (diluted)$1.12+6.7%

Balance sheet

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Cash & equivalents$4.2B+1.9%
Total debt$8.0B+4.6%
Total equity$4.4B-8.6%
Total assets$17.9B-5.6%

Cash flow

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Operating cash flow$969.0M+28.3%
CapEx$72.0M-35.1%
Free cash flow$897.0M+39.3%

Valuation

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Market cap$47.9B+29.2%
Enterprise value$51.62B+27.1%
P/E23.5×+5.3×
P/S4.1×+0.5×

Profitability

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Gross margin72%-0.1pp
Net margin17.6%-2.2pp

Returns & leverage

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Return on equity44.2%+7.5pp
Debt / equity1.8×+0.2×
Current ratio1.2×+0.1×

Where this comes from

Calculated from eBay’s reported figures.

Based on trailing twelve months.

The official record: eBay’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is eBay's operating margin?
eBay (EBAY) reported operating margin of 19.6% in Q1 2026.
How has eBay's operating margin changed year-over-year?
eBay's operating margin decreased by 12.1% year-over-year, from 22.3% to 19.6%.
What is the long-term trend for eBay's operating margin?
Over 4 years (2021 to 2025), eBay's operating margin has grown at a -7.4% compound annual growth rate (CAGR), from 115.2% to 84.7%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.