Debt to Equity
since 2005
Calculation
eBay Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2018 | 1.47 | = | 9,231) | ÷ | 6,281) |
| Dec 31, 2017 | 1.24 | = | 10,015) | ÷ | 8,063) |
| Dec 31, 2016 | 0.85 | = | 8,960) | ÷ | 10,539) |
| Dec 31, 2015 | 1.03 | = | 6,779) | ÷ | 6,576) |
| Dec 31, 2014 | 0.38 | = | 7,627) | ÷ | 19,906) |
| Dec 31, 2013 | 0.17 | = | 4,123) | ÷ | 23,647) |
| Dec 31, 2012 | 0.22 | = | 4,519) | ÷ | 20,865) |
| Dec 31, 2011 | 0.12 | = | 2,090) | ÷ | 17,930) |
| Dec 31, 2010 | 0.12 | = | 1,794) | ÷ | 15,302) |
| Dec 31, 2009 | 0.00 | = | —) | ÷ | 13,788) |
| Dec 31, 2008 | 0.09 | = | 1,000) | ÷ | 11,084) |
| Dec 31, 2007 | 0.02 | = | 200) | ÷ | 11,705) |
| Dec 31, 2006 | 0.00 | = | —) | ÷ | 10,905) |
| Dec 31, 2005 | 0.00 | = | —) | ÷ | 10,048) |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The financial data reveals a fundamental shift in the capital structure between 2005 and 2018, transitioning from a conservative, equity-heavy position to a significantly more leveraged profile. This evolution is characterized by a consistent increase in total debt coupled with a substantial contraction in stockholders' equity during the latter half of the observed period.
- Total Debt Trends
- Debt levels remained minimal through 2007, after which a sustained upward trajectory is observed. From 2008 to 2017, total debt grew from 1,000 million US$ to a peak of 10,015 million US$, representing a substantial expansion of liabilities. A marginal reduction occurred in 2018, bringing the total to 9,231 million US$.
- Stockholders' Equity Fluctuations
- Equity demonstrated steady growth from 2005, reaching a peak of 23,647 million US$ in 2013. However, a sharp decline occurred thereafter, with equity falling to 6,576 million US$ by 2015. Despite a temporary recovery in 2016 to 10,539 million US$, the trend continued downward, ending at 6,281 million US$ in 2018. This represents a significant reduction in the equity base relative to the 2013 peak.
- Debt to Equity Ratio Progression
- The debt to equity ratio remained negligible from 2007 to 2011, staying at or below 0.12. A marked acceleration occurred starting in 2014, as the ratio climbed to 0.38 and then surged to 1.03 in 2015. By 2018, the ratio reached 1.47, indicating that total debt exceeded stockholders' equity. This progression signifies a shift toward a high-leverage financial strategy or a significant reduction in retained capital.
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Comparison to Competitors
eBay Inc., debt to equity, long-term trends, comparison to competitors
| eBay Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2018 | 1.47 | 0.54 | 18.59 | 2.89 | 0.43 |
| Dec 31, 2017 | 1.24 | 0.89 | 5.45 | 2.44 | 0.49 |
| Dec 31, 2016 | 0.85 | 0.40 | 3.37 | 1.65 | 0.38 |
| Dec 31, 2015 | 1.03 | 0.62 | 1.84 | 1.14 | 0.38 |
| Dec 31, 2014 | 0.38 | 0.77 | 1.18 | 0.89 | 0.30 |
| Dec 31, 2013 | 0.17 | 0.33 | 0.61 | 0.66 | 0.21 |
| Dec 31, 2012 | 0.22 | 0.38 | 0.60 | 0.46 | 0.25 |
| Dec 31, 2011 | 0.12 | 0.03 | 0.52 | 0.36 | 0.25 |
| Dec 31, 2010 | 0.12 | 0.03 | 0.50 | 0.27 | 0.27 |
| Dec 31, 2009 | 0.00 | 0.02 | 0.64 | 0.34 | 0.36 |
| Dec 31, 2008 | 0.09 | 0.15 | 0.76 | 0.41 | 0.40 |
| Dec 31, 2007 | 0.02 | 1.07 | 0.47 | 0.28 | 0.35 |
| Dec 31, 2006 | 0.00 | 2.89 | 0.15 | 0.25 | 0.43 |
| Dec 31, 2005 | 0.00 | 6.18 | 0.09 | 0.32 | 0.42 |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
eBay Inc., debt to equity, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| eBay Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Dec 31, 2018 | 1.47 | 1.24 |
| Dec 31, 2017 | 1.24 | 1.54 |
| Dec 31, 2016 | 0.85 | 1.15 |
| Dec 31, 2015 | 1.03 | 1.04 |
| Dec 31, 2014 | 0.38 | 0.88 |
| Dec 31, 2013 | 0.17 | 0.53 |
| Dec 31, 2012 | 0.22 | 0.49 |
| Dec 31, 2011 | 0.12 | 0.36 |
| Dec 31, 2010 | 0.12 | 0.33 |
| Dec 31, 2009 | 0.00 | 0.43 |
| Dec 31, 2008 | 0.09 | 0.55 |
| Dec 31, 2007 | 0.02 | 0.41 |
| Dec 31, 2006 | 0.00 | 0.22 |
| Dec 31, 2005 | 0.00 | 0.21 |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Discretionary)
eBay Inc., debt to equity, long-term trends, comparison to industry (consumer discretionary)
| eBay Inc. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2018 | 1.47 | 2.59 |
| Dec 31, 2017 | 1.24 | 2.55 |
| Dec 31, 2016 | 0.85 | 2.21 |
| Dec 31, 2015 | 1.03 | 1.88 |
| Dec 31, 2014 | 0.38 | 1.60 |
| Dec 31, 2013 | 0.17 | 1.25 |
| Dec 31, 2012 | 0.22 | 1.19 |
| Dec 31, 2011 | 0.12 | 1.09 |
| Dec 31, 2010 | 0.12 | 1.26 |
| Dec 31, 2009 | 0.00 | 2.58 |
| Dec 31, 2008 | 0.09 | 4.06 |
| Dec 31, 2007 | 0.02 | 2.62 |
| Dec 31, 2006 | 0.00 | 2.96 |
| Dec 31, 2005 | 0.00 | 2.35 |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).