Enterprise Value to EBITDA (EV/EBITDA)
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- Income Statement
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
eBay Inc., EBITDA calculation
US$ in millions
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).
- Net income (loss)
- The net income exhibits significant volatility over the presented periods. Starting from a modest gain of 46 million USD in 2014, it surged substantially to 1,725 million USD in 2015 and further peaked at 7,266 million USD in 2016. However, in 2017 there was a stark reversal resulting in a net loss of 1,016 million USD, followed by a recovery to a positive net income of 2,530 million USD in 2018.
- Earnings before tax (EBT)
- EBT shows a somewhat fluctuating trend but remains positive throughout the periods. It peaked at 3,651 million USD in 2016 after a decline from 3,531 million USD in 2014 to 2,406 million USD in 2015. The figure then decreased to its lowest point in 2017 at 2,276 million USD before rising again to 2,718 million USD in 2018.
- Earnings before interest and tax (EBIT)
- The EBIT figures mirror the EBT pattern closely with values starting at 3,654 million USD in 2014, decreasing to 2,550 million USD in 2015, and then increasing to 3,876 million USD in 2016. It then experienced a decline in 2017 to 2,568 million USD, followed by a recovery to 3,044 million USD in 2018.
- Earnings before interest, tax, depreciation and amortization (EBITDA)
- EBITDA fluctuates across the periods as well but at higher absolute levels compared to EBIT and EBT. Beginning at 5,144 million USD in 2014, it fell significantly to 3,237 million USD in 2015, then rebounded to 4,558 million USD in 2016. A decline to 3,244 million USD was observed in 2017, with a subsequent increase to 3,740 million USD in 2018.
Enterprise Value to EBITDA Ratio, Current
eBay Inc., current EV/EBITDA calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | |
| Earnings before interest, tax, depreciation and amortization (EBITDA) | |
| Valuation Ratio | |
| EV/EBITDA | |
| Benchmarks | |
| EV/EBITDA, Competitors1 | |
| Amazon.com Inc. | |
| Home Depot Inc. | |
| Lowe’s Cos. Inc. | |
| TJX Cos. Inc. | |
Based on: 10-K (reporting date: 2018-12-31).
1 Click competitor name to see calculations.
If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
eBay Inc., historical EV/EBITDA calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | ||||||
| Earnings before interest, tax, depreciation and amortization (EBITDA)2 | ||||||
| Valuation Ratio | ||||||
| EV/EBITDA3 | ||||||
| Benchmarks | ||||||
| EV/EBITDA, Competitors4 | ||||||
| Amazon.com Inc. | ||||||
| Home Depot Inc. | ||||||
| Lowe’s Cos. Inc. | ||||||
| TJX Cos. Inc. | ||||||
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).
3 2018 Calculation
EV/EBITDA = EV ÷ EBITDA
= ÷ =
4 Click competitor name to see calculations.
- Enterprise Value (EV)
- The enterprise value demonstrates a fluctuating trend over the observed period. It starts at a high of US$63,477 million at the end of 2014, then sharply decreases to US$28,866 million by the end of 2015. Subsequently, the value rises to US$36,629 million in 2016 and further increases to US$47,034 million in 2017. However, in 2018, there is another decline to US$35,495 million. This pattern indicates significant volatility in the valuation of the enterprise over the years, with notable peaks and troughs.
- Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA)
- EBITDA exhibits variability but within a narrower range compared to enterprise value. Starting at US$5,144 million in 2014, it reduces to US$3,237 million in 2015. An increase to US$4,558 million is observed in 2016, followed by a decline to US$3,244 million in 2017. The figure then rises again to US$3,740 million in 2018. This trend shows a recurring pattern of decrease and recovery, suggesting fluctuating operational profitability.
- EV/EBITDA Ratio
- The EV/EBITDA multiple fluctuates considerably from year to year. Beginning at 12.34 in 2014, the ratio decreases to 8.92 in 2015 and further to 8.04 in 2016, reflecting a period of relatively lower valuation multiples. A substantial peak occurs in 2017 at 14.5, the highest ratio in the time series, indicating a temporarily elevated valuation relative to earnings. The ratio then declines to 9.49 in 2018, suggesting a reversion to lower valuation levels. These changes may reflect market sentiment shifts, valuation adjustments, or changes in earnings performance.