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易贝（EBAY）与GigaCloud Technology Inc（GCT）财务数据对比。点击上方公司名可切换其他公司
易贝的季度营收约是GigaCloud Technology Inc的8.9倍（$3.0B vs $332.6M），易贝净利率更高（17.8% vs 11.2%，领先6.6%），易贝同比增速更快（15.0% vs 9.7%），易贝自由现金流更多（$478.0M vs $77.1M），过去两年GigaCloud Technology Inc的营收复合增速更高（36.6% vs 7.7%）
eBay是总部位于美国加利福尼亚州圣何塞的跨国电商企业，1995年9月由皮埃尔·奥米迪亚创立。其业务覆盖全球190个市场，旗下线上平台支持拍卖及“立即购买”两种销售模式，消费者可便捷选购各类商品，平台会在卖家完成交易后收取相应佣金。
GigaCloud Technology Inc是一家美国电商企业，主打家具、家电、健身器材等体积较大、规格不统一商品的B2B交易，旗下拥有线上B2B交易平台，业务覆盖撮合交易、全程物流直至终端配送环节。公司总部位于加利福尼亚州埃尔蒙特，自2022年8月起在纳斯达克挂牌上市。
EBAY vs GCT — 直观对比
营收规模更大
EBAY
是对方的8.9倍
$332.6M
营收增速更快
EBAY
高出5.3%
9.7%
净利率更高
EBAY
高出6.6%
11.2%
自由现金流更多
EBAY
多$400.9M
$77.1M
两年增速更快
GCT
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $332.6M |
| 净利润 | $528.0M | $37.2M |
| 毛利率 | 71.4% | 23.2% |
| 营业利润率 | 20.3% | 12.2% |
| 净利率 | 17.8% | 11.2% |
| 营收同比 | 15.0% | 9.7% |
| 净利润同比 | -22.2% | -8.6% |
| 每股收益（稀释后） | $1.14 | $0.99 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收EBAYGCT
| Q4 25 | $3.0B | — | ||
| Q3 25 | $2.8B | $332.6M | ||
| Q2 25 | $2.7B | $322.6M | ||
| Q1 25 | $2.6B | $271.9M | ||
| Q4 24 | $2.6B | $295.8M | ||
| Q3 24 | $2.6B | $303.3M | ||
| Q2 24 | $2.6B | $310.9M | ||
| Q1 24 | $2.6B | $251.1M |
净利润EBAYGCT
| Q4 25 | $528.0M | — | ||
| Q3 25 | $632.0M | $37.2M | ||
| Q2 25 | $368.0M | $34.6M | ||
| Q1 25 | $503.0M | $27.1M | ||
| Q4 24 | $679.0M | $31.0M | ||
| Q3 24 | $634.0M | $40.7M | ||
| Q2 24 | $224.0M | $27.0M | ||
| Q1 24 | $438.0M | $27.2M |
毛利率EBAYGCT
| Q4 25 | 71.4% | — | ||
| Q3 25 | 70.9% | 23.2% | ||
| Q2 25 | 71.6% | 23.9% | ||
| Q1 25 | 72.0% | 23.4% | ||
| Q4 24 | 72.2% | 22.0% | ||
| Q3 24 | 71.8% | 25.5% | ||
| Q2 24 | 71.4% | 24.6% | ||
| Q1 24 | 72.6% | 26.5% |
营业利润率EBAYGCT
| Q4 25 | 20.3% | — | ||
| Q3 25 | 20.4% | 12.2% | ||
| Q2 25 | 17.7% | 11.1% | ||
| Q1 25 | 23.8% | 10.4% | ||
| Q4 24 | 21.1% | 9.3% | ||
| Q3 24 | 23.1% | 13.4% | ||
| Q2 24 | 21.3% | 8.8% | ||
| Q1 24 | 24.7% | 13.9% |
净利率EBAYGCT
| Q4 25 | 17.8% | — | ||
| Q3 25 | 22.4% | 11.2% | ||
| Q2 25 | 13.5% | 10.7% | ||
| Q1 25 | 19.5% | 10.0% | ||
| Q4 24 | 26.3% | 10.5% | ||
| Q3 24 | 24.6% | 13.4% | ||
| Q2 24 | 8.7% | 8.7% | ||
| Q1 24 | 17.1% | 10.8% |
每股收益（稀释后）EBAYGCT
| Q4 25 | $1.14 | — | ||
| Q3 25 | $1.35 | $0.99 | ||
| Q2 25 | $0.79 | $0.91 | ||
| Q1 25 | $1.06 | $0.68 | ||
| Q4 24 | $1.35 | $0.76 | ||
| Q3 24 | $1.29 | $0.98 | ||
| Q2 24 | $0.45 | $0.65 | ||
| Q1 24 | $0.85 | $0.66 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.9B | $365.9M |
| 总债务越低越好 | $6.0B | — |
| 股东权益账面价值 | $4.6B | $457.3M |
| 总资产 | $17.6B | $1.1B |
| 负债/权益比越低杠杆越低 | 1.30× | — |
8季度趋势，按日历期对齐
现金及短期投资EBAYGCT
| Q4 25 | $1.9B | — | ||
| Q3 25 | $2.4B | $365.9M | ||
| Q2 25 | $2.1B | $303.0M | ||
| Q1 25 | $3.1B | $286.8M | ||
| Q4 24 | $2.4B | $302.4M | ||
| Q3 24 | $1.6B | $259.8M | ||
| Q2 24 | $2.0B | $207.8M | ||
| Q1 24 | $2.1B | $195.3M |
总债务EBAYGCT
| Q4 25 | $6.0B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $5.8B | — | ||
| Q4 24 | $5.8B | — | ||
| Q3 24 | $6.2B | — | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.2B | — |
股东权益EBAYGCT
| Q4 25 | $4.6B | — | ||
| Q3 25 | $4.7B | $457.3M | ||
| Q2 25 | $4.7B | $431.4M | ||
| Q1 25 | $5.0B | $412.9M | ||
| Q4 24 | $5.2B | $405.2M | ||
| Q3 24 | $5.4B | $400.4M | ||
| Q2 24 | $5.5B | $358.4M | ||
| Q1 24 | $6.3B | $317.8M |
总资产EBAYGCT
| Q4 25 | $17.6B | — | ||
| Q3 25 | $17.8B | $1.1B | ||
| Q2 25 | $18.0B | $1.1B | ||
| Q1 25 | $19.0B | $1.1B | ||
| Q4 24 | $19.4B | $1.1B | ||
| Q3 24 | $19.9B | $1.1B | ||
| Q2 24 | $20.4B | $1.1B | ||
| Q1 24 | $21.4B | $977.6M |
负债/权益比EBAYGCT
| Q4 25 | 1.30× | — | ||
| Q3 25 | 1.06× | — | ||
| Q2 25 | 1.05× | — | ||
| Q1 25 | 1.16× | — | ||
| Q4 24 | 1.12× | — | ||
| Q3 24 | 1.14× | — | ||
| Q2 24 | 1.12× | — | ||
| Q1 24 | 0.98× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $595.0M | $78.3M |
| 自由现金流经营现金流 - 资本支出 | $478.0M | $77.1M |
| 自由现金流率自由现金流/营收 | 16.1% | 23.2% |
| 资本支出强度资本支出/营收 | 3.9% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.13× | 2.10× |
| 过去12个月自由现金流最近4个季度 | $1.5B | $188.1M |
8季度趋势，按日历期对齐
经营现金流EBAYGCT
| Q4 25 | $595.0M | — | ||
| Q3 25 | $934.0M | $78.3M | ||
| Q2 25 | $-307.0M | $38.6M | ||
| Q1 25 | $787.0M | $9.4M | ||
| Q4 24 | $677.0M | $68.4M | ||
| Q3 24 | $755.0M | $55.2M | ||
| Q2 24 | $367.0M | $19.1M | ||
| Q1 24 | $615.0M | $15.3M |
自由现金流EBAYGCT
| Q4 25 | $478.0M | — | ||
| Q3 25 | $803.0M | $77.1M | ||
| Q2 25 | $-441.0M | $37.0M | ||
| Q1 25 | $644.0M | $7.0M | ||
| Q4 24 | $560.0M | $66.9M | ||
| Q3 24 | $646.0M | $51.4M | ||
| Q2 24 | $278.0M | $12.9M | ||
| Q1 24 | $472.0M | $11.3M |
自由现金流率EBAYGCT
| Q4 25 | 16.1% | — | ||
| Q3 25 | 28.5% | 23.2% | ||
| Q2 25 | -16.2% | 11.5% | ||
| Q1 25 | 24.9% | 2.6% | ||
| Q4 24 | 21.7% | 22.6% | ||
| Q3 24 | 25.1% | 16.9% | ||
| Q2 24 | 10.8% | 4.2% | ||
| Q1 24 | 18.5% | 4.5% |
资本支出强度EBAYGCT
| Q4 25 | 3.9% | — | ||
| Q3 25 | 4.6% | 0.4% | ||
| Q2 25 | 4.9% | 0.5% | ||
| Q1 25 | 5.5% | 0.9% | ||
| Q4 24 | 4.5% | 0.5% | ||
| Q3 24 | 4.2% | 1.3% | ||
| Q2 24 | 3.5% | 2.0% | ||
| Q1 24 | 5.6% | 1.6% |
现金转化率EBAYGCT
| Q4 25 | 1.13× | — | ||
| Q3 25 | 1.48× | 2.10× | ||
| Q2 25 | -0.83× | 1.12× | ||
| Q1 25 | 1.56× | 0.35× | ||
| Q4 24 | 1.00× | 2.21× | ||
| Q3 24 | 1.19× | 1.36× | ||
| Q2 24 | 1.64× | 0.71× | ||
| Q1 24 | 1.40× | 0.56× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
EBAY
| Marketplace Revenues | $2.4B | 82% |
| Advertising Revenues | $544.0M | 18% |
GCT
| Services | $108.4M | 33% |
| Transferred Over Time | $89.8M | 27% |
| Product Sales To B | $50.1M | 15% |
| Last Mile Delivery Service | $49.2M | 15% |
| Warehousing Service | $14.2M | 4% |
| Ocean Transportation Service | $9.0M | 3% |
| Platform Commission | $4.9M | 1% |
| Drayage Service | $3.2M | 1% |
