What is Ebay Inc worth?
With the base-case assumptions below, a discounted cash flow model on Ebay Inc's reported free cash flow gives $44.93 per share. The share price was $107.90 on September 25, 2026, 140% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -0.5% | 10.0% | $24.19 | -78% |
| Base | 4.5% | 9.0% | $44.93 | -58% |
| Bull | 9.5% | 8.0% | $85.32 | -21% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $59.70 | $64.19 | $69.67 | $76.52 | $85.33 |
| 8.0% | $48.70 | $51.61 | $55.04 | $59.17 | $64.21 |
| 9.0% | $40.65 | $42.64 | $44.93 | $47.61 | $50.77 |
| 10.0% | $34.51 | $35.92 | $37.52 | $39.35 | $41.47 |
| 11.0% | $29.67 | $30.71 | $31.87 | $33.17 | $34.65 |
Where the presets come from
Base: years 1 to 5 grow at Ebay Inc's revenue growth rate over the last 5 fiscal years (4.5% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions