Ebay (EBAY) FY2020 results: revenue $8.9 billion, up 19.7% on the year
Ebay Inc. (EBAY) reported revenue of $8.9 billion for fiscal 2020, the year ended 31 December 2020, up 19.7% on the year before. Net income was $5.7 billion, up 217.3%, and diluted earnings per share $7.89. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2021.
Revenue
$8.9 billion
+19.7% on the year
FY2013FY2020
Operating margin
29.6%
23.8% a year earlier
FY2013FY2020
Net income
$5.7 billion
+217.3% on the year
FY2013FY2020
Diluted EPS
$7.89
+277.5% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
8,894
7,429
8,650
+19.7%
Cost of revenue
1,797
1,585
2,023
+13.4%
Gross profit
7,097
5,844
6,627
+21.4%
Gross margin
79.8%
78.7%
76.6%
Research and development
1,028
930
1,051
+10.5%
Operating income
2,636
1,770
1,752
+48.9%
Operating margin
29.6%
23.8%
20.3%
Interest expense
304
311
326
-2.3%
Pre-tax income
3,345
1,652
2,249
+102.5%
Income tax
858
219
121
+291.8%
Effective tax rate
25.7%
13.3%
5.4%
Net income
5,667
1,786
2,530
+217.3%
Net margin
63.7%
24.0%
29.2%
Diluted EPS
$7.89
$2.09
$2.55
+277.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,419
3,114
2,658
-22.3%
Capital expenditure
463
508
623
-8.9%
Free cash flow
1,956
2,606
2,035
-24.9%
Free cash flow margin
22.0%
35.1%
23.5%
Cash from investing
3,794
2,787
2,894
+36.1%
Cash from financing
-5,692
-7,091
-5,398
Depreciation and amortisation
560
572
591
-2.1%
Share-based compensation
417
415
465
+0.5%
Buybacks
5,137
4,973
4,502
+3.3%
Dividends paid
447
473
0.0
-5.5%
Diluted shares, weighted
718m
856m
991m
-16.1%
Shares outstanding at period end
684m
796m
915m
-14.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,561
2,870
6,281
+24.1%
Debt
7,746
7,760
9,231
-0.2%
Operating lease liabilities
316
461
n/a
-31.5%
Finance lease liabilities
5.0
16.0
n/a
-68.8%
Other liabilities
7,682
7,067
7,307
+8.7%
Total liabilities and equity
19,310
18,174
22,819
+6.3%
Fixed assets
1,292
1,460
1,597
-11.5%
Goodwill
4,285
4,533
5,160
-5.5%
Intangible assets
12.0
39.0
92.0
-69.2%
Investments
3,225
3,125
6,491
+3.2%
Cash and equivalents
1,101
901
2,202
+22.2%
Receivables
362
555
712
-34.8%
Other assets
9,033
7,561
6,565
+19.5%
Total assets
19,310
18,174
22,819
+6.3%
10-K for the year ended 31 December 2020, filed 4 February 2021: the filing.