Is eBay, Inc. overvalued or undervalued?

As of 17 October 2025, eBay, Inc. has moved from a very expensive to a fair valuation grade. The company appears to be fairly valued at this time. Key valuation ratios include a P/E ratio of 56, a Price to Book Value of 24.49, and an EV to EBITDA ratio of 42.85. In comparison, peer Lululemon Athletica, Inc. has a more attractive P/E of 11.49 and an EV to EBITDA of 6.69, highlighting eBay's relative valuation challenges.
Despite these ratios, eBay has demonstrated strong performance, with a year-to-date return of 48.52%, significantly outperforming the S&P 500's return of 13.30% over the same period. This robust performance may suggest that the market has begun to recognize its fair valuation amidst a competitive landscape.