eBay Inc. (EBAY) FY2025 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-01-01 to 2025-12-31

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eBay Inc. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $1,959,000,000.00Net income → Operating adjustments reconciliation: $72,000,000.00Stock-based compensation → Operating adjustments reconciliation: $607,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $407,000,000.00Transaction losses → Operating adjustments reconciliation: $396,000,000.00Other non-current assets → Operating adjustments reconciliation: $48,000,000.00Deferred income taxes → Operating adjustments reconciliation: $44,000,000.00Change in fair value of warrants → Operating adjustments reconciliation: $5,000,000.00Operating adjustments reconciliation → Income taxes payable and other tax liabilities: $985,000,000.00Operating adjustments reconciliation → Accrued expenses and other liabilities: $335,000,000.00Operating adjustments reconciliation → Other current assets: $153,000,000.00Operating adjustments reconciliation → Net cash used in discontinued operating activities: $50,000,000.00Operating adjustments reconciliation → (Income) loss from discontinued operations, net of income taxes: $35,000,000.00Operating adjustments reconciliation → Loss (gain) on investments and other, net: $17,000,000.00Operating adjustments reconciliation → Accounts payable: $4,000,000.00Maturities and sales of investments → investing reconciliation: $8,661,000,000.00Shareholder distributions from equity investments → investing reconciliation: $227,000,000.00investing reconciliation → Net cash from investing activities: $1,420,000,000.00investing reconciliation → Purchases of investments: $6,735,000,000.00investing reconciliation → Purchases of property and equipment: $525,000,000.00investing reconciliation → Acquisitions and other: $208,000,000.00Net cash used in financing activities → financing reconciliation: $3,661,000,000.00Proceeds from issuance of commercial paper → financing reconciliation: $1,994,000,000.00Proceeds from issuance of senior notes, net → financing reconciliation: $994,000,000.00Net funds receivable and payable activity → financing reconciliation: $200,000,000.00Proceeds from issuance of common stock → financing reconciliation: $141,000,000.00financing reconciliation → Repurchases of common stock: $2,500,000,000.00financing reconciliation → Repayment of commercial paper: $2,435,000,000.00financing reconciliation → Repayment of senior notes: $1,225,000,000.00financing reconciliation → Payments for dividends: $531,000,000.00financing reconciliation → Payments for taxes related to net share settlements of restricted stock units and awards: $273,000,000.00financing reconciliation → Other: $26,000,000.00Exchange-rate effect → Cash sources and uses: $51,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations → Cash sources and uses: $3,286,000,000.00Net cash from operating activities → Cash sources and uses: $1,959,000,000.00Net cash from investing activities → Cash sources and uses: $1,420,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $3,055,000,000.00Cash sources and uses → Net cash used in financing activities: $3,661,000,000.00Net income: $2,031,000,000.00Net income+$2.03 B(Income) loss from discontinued operations, net of income taxes: -$35,000,000.00Discontinued operations, net−$35.00 MTransaction losses: $396,000,000.00Transaction losses+$396.00 MDepreciation and amortization: $407,000,000.00Depreciation & amortization+$407.00 MStock-based compensation: $607,000,000.00Stock-based compensation+$607.00 MLoss (gain) on investments and other, net: -$17,000,000.00Investment sale gain & loss−$17.00 MDeferred income taxes: $44,000,000.00Deferred income taxes+$44.00 MChange in fair value of warrants: $5,000,000.00Warrant fair value+$5.00 MChange in fair value of equity investment - Adevinta: $0.00Change in fair value of equity investment - Adyen: $0.00Change in fair value of equity investment - GMarket: $0.00Other current assets: -$153,000,000.00Other current assets−$153.00 MOther non-current assets: $48,000,000.00Other noncurrent assets+$48.00 MAccounts payable: -$4,000,000.00Accounts payable−$4.00 MAccrued expenses and other liabilities: -$335,000,000.00Accrued liabilities−$335.00 MIncome taxes payable and other tax liabilities: -$985,000,000.00Accrued taxes−$985.00 MNet cash used in discontinued operating activities: -$50,000,000.00Discontinued operations cash−$50.00 MNet cash from operating activities: $1,959,000,000.00Operating cash+$1.96 BOperating adjustments reconciliation: $1,579,000,000.00Proceeds from issuance of commercial paper: $1,994,000,000.00Commercial paper issued+$1.99 BNet funds receivable and payable activity: $200,000,000.00Funds receivable & payable, net+$200.00 MPayments for taxes related to net share settlements of restricted stock units and awards: -$273,000,000.00Stock-award tax withholding−$273.00 MProceeds from issuance of common stock: $141,000,000.00Common stock issued+$141.00 MRepurchases of common stock: -$2,500,000,000.00Common stock repurchases−$2.50 BOther: -$26,000,000.00Other financing, net−$26.00 MPayments for dividends: -$531,000,000.00Dividends paid−$531.00 MProceeds from issuance of senior notes, net: $994,000,000.00Senior debt issued+$994.00 MRepayment of senior notes: -$1,225,000,000.00Senior debt repaid−$1.23 BRepayment of commercial paper: -$2,435,000,000.00Commercial paper repaid−$2.44 BNet cash used in financing activities: -$3,661,000,000.00. Cash required to fund net payments.Financing cash−$3.66 Bfinancing reconciliation: $6,990,000,000.00Purchases of property and equipment: -$525,000,000.00PP&E purchases−$525.00 MPurchases of investments: -$6,735,000,000.00Investment purchases−$6.74 BMaturities and sales of investments: $8,661,000,000.00Other investment proceeds+$8.66 BExercise of options under warrant: $0.00Proceeds from sale of shares - Adevinta: $0.00Proceeds from sale of shares - Adyen: $0.00Proceeds from sale of shares - Aurelia: $0.00Proceeds from sale of shares - GMarket: $0.00Proceeds from sale of shares - Kakao Bank: $0.00Shareholder distributions from equity investments: $227,000,000.00Equity-method return of capital+$227.00 MAcquisitions and other: -$208,000,000.00Acquisitions, net of cash−$208.00 MNet cash from investing activities: $1,420,000,000.00Investing cash+$1.42 Binvesting reconciliation: $8,888,000,000.00Cash sources and uses: $6,716,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $3,286,000,000.00Beginning cash$3.29 BEnding cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $3,055,000,000.00Ending cash$3.06 BExchange-rate effect: $51,000,000.00FX effect+$51.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$1.43 BOperating cash − cash spent on PP&ECash flow / Net income0.96×Operating cash flow ÷ net incomeNet cash change−$231.00 MEnding cash − beginning cash
Chart details

eBay Inc. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025

Cash flows for Jan 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations. Beginning cash: Dec 31, 2024. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2024
3,286,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
Operating activities
1,959,000,000 US dollars. Net cash provided.
Net income
2,031,000,000 US dollars
(Income) loss from discontinued operations, net of income taxes
negative 35,000,000 US dollars
Transaction losses
396,000,000 US dollars
Depreciation and amortization
407,000,000 US dollars
Stock-based compensation
607,000,000 US dollars
Loss (gain) on investments and other, net
negative 17,000,000 US dollars
Deferred income taxes
44,000,000 US dollars
Change in fair value of warrants
5,000,000 US dollars
Change in fair value of equity investment - Adevinta
0 US dollars
Change in fair value of equity investment - Adyen
0 US dollars
Change in fair value of equity investment - GMarket
0 US dollars
Other current assets
negative 153,000,000 US dollars
Other non-current assets
48,000,000 US dollars
Accounts payable
negative 4,000,000 US dollars
Accrued expenses and other liabilities
negative 335,000,000 US dollars
Income taxes payable and other tax liabilities
negative 985,000,000 US dollars
Net cash used in discontinued operating activities
negative 50,000,000 US dollars
Investing activities
1,420,000,000 US dollars. Net cash provided.
Purchases of property and equipment
negative 525,000,000 US dollars
Purchases of investments
negative 6,735,000,000 US dollars
Maturities and sales of investments
8,661,000,000 US dollars
Exercise of options under warrant
0 US dollars
Proceeds from sale of shares - Adevinta
0 US dollars
Proceeds from sale of shares - Adyen
0 US dollars
Proceeds from sale of shares - Aurelia
0 US dollars
Proceeds from sale of shares - GMarket
0 US dollars
Proceeds from sale of shares - Kakao Bank
0 US dollars
Shareholder distributions from equity investments
227,000,000 US dollars
Acquisitions and other
negative 208,000,000 US dollars
Financing activities
negative 3,661,000,000 US dollars. Net cash used.
Proceeds from issuance of commercial paper
1,994,000,000 US dollars
Net funds receivable and payable activity
200,000,000 US dollars
Payments for taxes related to net share settlements of restricted stock units and awards
negative 273,000,000 US dollars
Proceeds from issuance of common stock
141,000,000 US dollars
Repurchases of common stock
negative 2,500,000,000 US dollars
Other
negative 26,000,000 US dollars
Payments for dividends
negative 531,000,000 US dollars
Proceeds from issuance of senior notes, net
994,000,000 US dollars
Repayment of senior notes
negative 1,225,000,000 US dollars
Repayment of commercial paper
negative 2,435,000,000 US dollars
Operating adjustment reconciliation
1,579,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
6,990,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
8,888,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
51,000,000 US dollars
Ending cash on Dec 31, 2025
3,055,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
Cash sources and uses
6,716,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 231,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.96×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
1,959,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
525,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
1,434,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income exceeds operating cash. The diagram allocates $1.96B of net income directly to operating cash and $72.00M to the adjustment junction, where it combines with other additions to reconcile deductions. This is an accounting presentation, not a tracing of cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 1,959,000,000 US dollars minus 525,000,000 US dollars equals 1,434,000,000 US dollars.
eBay Inc. (EBAY) FY2025 Annual Statement of Cash Flows Sankey chart
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