EBAY
eBay Inc.
EBAY has the edge over SPWH overall, supported by stronger fundamentals and lower modeled downside.
SPWH
Sportsman's Warehouse Holdings, Inc.
SPWH offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
EBAY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Stable |
EBAY's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
SPWH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Stable | |
| Weak |
SPWH's revenue and cash flow are currently stable, but its profitability and balance sheet are under pressure.
EBAY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.9x | $31.50 | -74% |
| Fair | 16x | $71.96 | -40% |
| Forward | 18x | $120 | — |
| Expensive | 22x | $99.04 | -18% |
| Current | 26x | $120 | — |
Historical ranges are pointers, not guarantees.
EBAY's PE is in its expensive range at 26x. If earnings grow as analysts expect, today's price would be 18x next year's earnings.
SPWH PE Valuation
SPWH has no meaningful PE right now: it lost money over the past year.
EBAY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for EBAY, with profitability holding steady.
SPWH Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect SPWH's losses to shrink, with revenue holding steady. However, they disagree widely on these estimates.
EBAY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.63 | +45% |
| Q3 2026 | $4.57 | +0.4% |
| Q2 2026 | $4.82 | +7.3% |
| Q1 2026 | $4.40 | +6% |
| Q4 2025 | $4.34 | +10% |
| Q3 2025 | $4.55 | +15% |
| Q2 2025 | $4.49 | -12% |
| Q1 2025 | $4.15 | -17% |
| Q4 2024 | $3.94 | -24% |
EBAY has the edge over SPWH on earnings quality, reporting a profit while its opponent remains loss making.
SPWH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.23 | -$0.26 |
| Q2 2026 | -$1.30 | -$0.35 |
| Q1 2026 | -$1.30 | -$0.43 |
| Q4 2025 | -$0.98 | -$0.13 |
| Q3 2025 | -$0.97 | -$0.07 |
| Q2 2025 | -$0.95 | -$0.12 |
| Q1 2025 | -$0.87 | -$0.10 |
| Q4 2024 | -$0.85 | -$0.57 |
SPWH lost $1.23 per share over the past year, a bigger loss than the year before.
EBAY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.2B | +14% |
| Q2 2026 | $3.1B | +15% |
| Q1 2026 | $3.1B | +19% |
| Q4 2025 | $3B | +15% |
| Q3 2025 | $2.8B | +9.5% |
| Q2 2025 | $2.7B | +6.1% |
| Q1 2025 | $2.6B | +1.1% |
| Q4 2024 | $2.6B | +0.7% |
EBAY has the edge over SPWH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | -1.2 points |
| Q2 2026 | 22% | +3.8 points |
| Q1 2026 | 20% | -4 points |
| Q4 2025 | 20% | -0.8 points |
| Q3 2025 | 20% | -2.7 points |
| Q2 2025 | 18% | -3.6 points |
| Q1 2025 | 24% | -0.9 points |
| Q4 2024 | 21% | +5.1 points |
EBAY has the edge over SPWH on profitability, with a higher operating margin.
SPWH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $295.6M | +0.6% |
| Q2 2026 | $256.1M | +2.8% |
| Q1 2026 | $334.9M | -1.6% |
| Q4 2025 | $331.3M | +2.2% |
| Q3 2025 | $293.9M | +1.8% |
| Q2 2025 | $249.1M | +2% |
| Q1 2025 | $340.4M | -8.1% |
| Q4 2024 | $324.3M | -4.8% |
SPWH's revenue fell from its 2021 peak and has held roughly level since: $296M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.4% | +0.7 points |
| Q2 2026 | -7.1% | +0.8 points |
| Q1 2026 | -5.6% | -6.7 points |
| Q4 2025 | 1.3% | +0.3 points |
| Q3 2025 | -1.1% | +0.4 points |
| Q2 2025 | -7.9% | +0.6 points |
| Q1 2025 | 1.1% | +3.2 points |
| Q4 2024 | 1% | +0.1 points |
SPWH's operating margin was −0.4% last quarter, up 0.7 points from the same quarter a year ago.
EBAY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $749M | -6.7% |
| Q2 2026 | $300M | +$741M |
| Q1 2026 | $897M | +39% |
| Q4 2025 | $466M | -17% |
| Q3 2025 | $803M | +24% |
| Q2 2025 | -$441M | -259% |
| Q1 2025 | $644M | +36% |
| Q4 2024 | $560M | +$564M |
EBAY has the edge over SPWH on cash flow, with more consistent year-over-year improvement.
SPWH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$15.5M | +$18.4M |
| Q2 2026 | -$59.6M | +$4.4M |
| Q1 2026 | $98.1M | +98% |
| Q4 2025 | $8.7M | +$14.9M |
| Q3 2025 | -$33.9M | -340% |
| Q2 2025 | -$64M | -$26.1M |
| Q1 2025 | $49.6M | -18% |
| Q4 2024 | -$6.2M | -127% |
SPWH's free cash flow has turned positive again: $32M over the past year, against −$55M the year before.
EBAY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -2M shares |
| 1 year | -3% | -14M shares |
| 3 years | -15% | -79M shares |
| 5 years | -31% | -205M shares |
| Available history | -44% | -359M shares |
EBAY has the edge over SPWH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $664M |
| Q2 2026 | $323M |
| Q1 2026 | $486M |
| Q4 2025 | $635M |
| Q3 2025 | $626M |
| Q2 2025 | $624M |
| Q1 2025 | $615M |
| Q4 2024 | $911M |
EBAY spent $2.1B buying back its own shares over the past year, down 24% from the year before.
SPWH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +280K shares |
| 1 year | +1.7% | +668K shares |
| 3 years | +4.1% | +1.5M shares |
| 5 years | -13% | -5.7M shares |
| Available history | -10% | -4.5M shares |
SPWH has 39M diluted shares, up 1.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | $2.1M |
| Q2 2023 | $696,000 |
| Q1 2023 | $2.3M |
| Q4 2022 | $10.4M |
EBAY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.8x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.9x | Healthy |
EBAY has the edge over SPWH on leverage, with a lower net debt burden relative to earnings.
SPWH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 15.1x | High |
| Q2 2026 | 20.9x | High |
| Q1 2026 | 24.4x | High |
| Q4 2025 | 1.7x | Healthy |
| Q3 2025 | 1.8x | Healthy |
| Q2 2025 | 0.9x | Very low |
| Q1 2025 | 1.0x | Very low |
| Q4 2024 | 1.9x | Healthy |
SPWH's net debt is about 15 years of its operating earnings (EBITDA), up from 1.8 years a year ago.
EBAY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.9 | Neutral |
| Stochastic | 80.0 | Overbought |
EBAY's weekly RSI is 62 (neutral) and its Stochastic is 80 (overbought).
SPWH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.2 | Neutral |
| Stochastic | 27.3 | Neutral |
SPWH's weekly RSI is 49 (neutral) and its Stochastic is 27 (neutral).
EBAY PE vs Consumer Cyclical Sector
| Metric | EBAY | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 18x | 46% above |
| PE % | 91 | 47 | 44 pts above |
EBAY is trading at 26x earnings, a 46% premium to the Consumer Cyclical sector's median of 18x.
SPWH PE vs Consumer Cyclical Sector
| Metric | SPWH | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 18x | — |
SPWH has no meaningful PE right now: it lost money over the past year.
EBAY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $116.5 | 3.1% above |
| 20 week MA | $112.4 | 6.9% above |
| 50 week MA | $102.6 | 17% above |
| 100 week MA | $89.8 | 34% above |
| 200 week MA | $69.5 | 73% above |
EBAY has the edge over SPWH on trend strength, trading above more of its moving averages.
SPWH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.11 | 9% above |
| 20 week MA | $1.16 | 4.3% above |
| 50 week MA | $1.29 | 6.2% below |
| 100 week MA | $1.85 | 35% below |
| 200 week MA | $3.18 | 62% below |
SPWH has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 62% below its 200-week average.
EBAY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $36.1 | $50.1 | +39% |
| 2021 | $50.1 | $64.9 | +29% |
| 2022 | $64.9 | $40.2 | -38% |
| 2023 | $40.2 | $43.6 | +8.6% |
| 2024 | $43.6 | $62.8 | +44% |
| 2025 | $62.8 | $85.2 | +36% |
| 2026 YTD | $85.2 | $120.1 | +41% |
EBAY has the edge over SPWH on returns for 2026, with the stronger performance.
SPWH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $8.04 | $17.9 | +123% |
| 2021 | $17.9 | $11.5 | -36% |
| 2022 | $11.5 | $9.13 | -21% |
| 2023 | $9.13 | $4.26 | -53% |
| 2024 | $4.26 | $2.65 | -38% |
| 2025 | $2.65 | $1.36 | -49% |
| 2026 YTD | $1.36 | $1.21 | -11% |
SPWH has finished five years in a row lower, and it's down 11% so far in 2026.