eBay Inc.


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SKU: EBAY Category:


This is our first report on one of the most popular marketplace companies in the world – eBay. Despite having to deal with a difficult confluence of geopolitical and macroeconomic developments since the beginning of the year, eBay has performed well financially and has exceeded Wall Street expectations across all key metrics, including GMV, revenue, and earnings. The company’s Q1 results were driven by continued progress toward the strategic goals, including an increase in the scope and capabilities of its targeted categories and better technology for its sellers and buyers. In contrast to stimulus-driven results from the previous year, they maintained strong positive growth within their luxury categories in 2022 so far. In Q1, they acquired KnownOrigin to help people create, purchase, and resell authentic NFTs using blockchain-supported transactions. Overall, they increased their capabilities and coverage within targeted categories, bringing their community fresh new shopping experiences and fostering healthy underlying growth in their business. Also, initiatives in advertising and payments are outpacing volume growth, generating additional revenue with healthy margins, and assisting eBay sellers in expanding their operations. We initiate coverage on eBay with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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