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易贝（EBAY）与高德纳（IT）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高德纳的1.7倍（$3.0B vs $1.8B），易贝净利率更高（17.8% vs 13.8%，领先4.0%），易贝同比增速更快（15.0% vs 2.2%），易贝自由现金流更多（$478.0M vs $270.7M），过去两年高德纳的营收复合增速更高（9.1% 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。
高德纳是美国专注于商业与科技领域的研究咨询机构，服务客户覆盖大型企业、政府机构、科技公司、投资机构等群体，通过输出研究报告、举办行业峰会、提供定制咨询等形式，为客户决策提供权威专业的洞见支撑。
EBAY vs IT — 直观对比
营收规模更大
EBAY
是对方的1.7倍
$1.8B
营收增速更快
EBAY
高出12.8%
2.2%
净利率更高
EBAY
高出4.0%
13.8%
自由现金流更多
EBAY
多$207.3M
$270.7M
两年增速更快
IT
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $1.8B |
| 净利润 | $528.0M | $242.2M |
| 毛利率 | 71.4% | 67.8% |
| 营业利润率 | 20.3% | 19.1% |
| 净利率 | 17.8% | 13.8% |
| 营收同比 | 15.0% | 2.2% |
| 净利润同比 | -22.2% | -39.2% |
| 每股收益（稀释后） | $1.14 | $3.36 |
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EBAYIT
| Q4 25 | $3.0B | $1.8B | ||
| Q3 25 | $2.8B | $1.5B | ||
| Q2 25 | $2.7B | $1.7B | ||
| Q1 25 | $2.6B | $1.5B | ||
| Q4 24 | $2.6B | $1.7B | ||
| Q3 24 | $2.6B | $1.5B | ||
| Q2 24 | $2.6B | $1.6B | ||
| Q1 24 | $2.6B | $1.5B |
净利润EBAYIT
| Q4 25 | $528.0M | $242.2M | ||
| Q3 25 | $632.0M | $35.4M | ||
| Q2 25 | $368.0M | $240.8M | ||
| Q1 25 | $503.0M | $210.9M | ||
| Q4 24 | $679.0M | $398.6M | ||
| Q3 24 | $634.0M | $415.0M | ||
| Q2 24 | $224.0M | $229.5M | ||
| Q1 24 | $438.0M | $210.5M |
毛利率EBAYIT
| Q4 25 | 71.4% | 67.8% | ||
| Q3 25 | 70.9% | 69.3% | ||
| Q2 25 | 71.6% | 68.6% | ||
| Q1 25 | 72.0% | 69.4% | ||
| Q4 24 | 72.2% | 66.8% | ||
| Q3 24 | 71.8% | 68.4% | ||
| Q2 24 | 71.4% | 68.6% | ||
| Q1 24 | 72.6% | 69.4% |
营业利润率EBAYIT
| Q4 25 | 20.3% | 19.1% | ||
| Q3 25 | 20.4% | 5.7% | ||
| Q2 25 | 17.7% | 19.4% | ||
| Q1 25 | 23.8% | 18.1% | ||
| Q4 24 | 21.1% | 18.5% | ||
| Q3 24 | 23.1% | 16.6% | ||
| Q2 24 | 21.3% | 20.0% | ||
| Q1 24 | 24.7% | 18.6% |
净利率EBAYIT
| Q4 25 | 17.8% | 13.8% | ||
| Q3 25 | 22.4% | 2.3% | ||
| Q2 25 | 13.5% | 14.3% | ||
| Q1 25 | 19.5% | 13.7% | ||
| Q4 24 | 26.3% | 23.2% | ||
| Q3 24 | 24.6% | 28.0% | ||
| Q2 24 | 8.7% | 14.4% | ||
| Q1 24 | 17.1% | 14.3% |
每股收益（稀释后）EBAYIT
| Q4 25 | $1.14 | $3.36 | ||
| Q3 25 | $1.35 | $0.47 | ||
| Q2 25 | $0.79 | $3.11 | ||
| Q1 25 | $1.06 | $2.71 | ||
| Q4 24 | $1.35 | $5.08 | ||
| Q3 24 | $1.29 | $5.32 | ||
| Q2 24 | $0.45 | $2.93 | ||
| Q1 24 | $0.85 | $2.67 |
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 | $1.7B |
| 总债务越低越好 | $6.0B | — |
| 股东权益账面价值 | $4.6B | $319.9M |
| 总资产 | $17.6B | $8.1B |
| 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EBAYIT
| Q4 25 | $1.9B | $1.7B | ||
| Q3 25 | $2.4B | $1.4B | ||
| Q2 25 | $2.1B | $2.2B | ||
| Q1 25 | $3.1B | $2.1B | ||
| Q4 24 | $2.4B | $1.9B | ||
| Q3 24 | $1.6B | $1.8B | ||
| Q2 24 | $2.0B | $1.2B | ||
| Q1 24 | $2.1B | $1.2B |
总债务EBAYIT
| 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EBAYIT
| Q4 25 | $4.6B | $319.9M | ||
| Q3 25 | $4.7B | $556.6M | ||
| Q2 25 | $4.7B | $1.5B | ||
| Q1 25 | $5.0B | $1.5B | ||
| Q4 24 | $5.2B | $1.4B | ||
| Q3 24 | $5.4B | $1.1B | ||
| Q2 24 | $5.5B | $646.7M | ||
| Q1 24 | $6.3B | $718.2M |
总资产EBAYIT
| Q4 25 | $17.6B | $8.1B | ||
| Q3 25 | $17.8B | $7.2B | ||
| Q2 25 | $18.0B | $8.3B | ||
| Q1 25 | $19.0B | $8.5B | ||
| Q4 24 | $19.4B | $8.5B | ||
| Q3 24 | $19.9B | $7.8B | ||
| Q2 24 | $20.4B | $7.4B | ||
| Q1 24 | $21.4B | $7.7B |
负债/权益比EBAYIT
| 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 | $294.5M |
| 自由现金流经营现金流 - 资本支出 | $478.0M | $270.7M |
| 自由现金流率自由现金流/营收 | 16.1% | 15.4% |
| 资本支出强度资本支出/营收 | 3.9% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.13× | 1.22× |
| 过去12个月自由现金流最近4个季度 | $1.5B | $1.2B |
8季度趋势，按日历期对齐
经营现金流EBAYIT
| Q4 25 | $595.0M | $294.5M | ||
| Q3 25 | $934.0M | $298.7M | ||
| Q2 25 | $-307.0M | $383.6M | ||
| Q1 25 | $787.0M | $313.5M | ||
| Q4 24 | $677.0M | $335.4M | ||
| Q3 24 | $755.0M | $590.8M | ||
| Q2 24 | $367.0M | $370.0M | ||
| Q1 24 | $615.0M | $188.8M |
自由现金流EBAYIT
| Q4 25 | $478.0M | $270.7M | ||
| Q3 25 | $803.0M | $269.3M | ||
| Q2 25 | $-441.0M | $347.3M | ||
| Q1 25 | $644.0M | $287.9M | ||
| Q4 24 | $560.0M | $311.4M | ||
| Q3 24 | $646.0M | $565.0M | ||
| Q2 24 | $278.0M | $340.6M | ||
| Q1 24 | $472.0M | $166.2M |
自由现金流率EBAYIT
| Q4 25 | 16.1% | 15.4% | ||
| Q3 25 | 28.5% | 17.7% | ||
| Q2 25 | -16.2% | 20.6% | ||
| Q1 25 | 24.9% | 18.8% | ||
| Q4 24 | 21.7% | 18.2% | ||
| Q3 24 | 25.1% | 38.1% | ||
| Q2 24 | 10.8% | 21.4% | ||
| Q1 24 | 18.5% | 11.3% |
资本支出强度EBAYIT
| Q4 25 | 3.9% | 1.4% | ||
| Q3 25 | 4.6% | 1.9% | ||
| Q2 25 | 4.9% | 2.1% | ||
| Q1 25 | 5.5% | 1.7% | ||
| Q4 24 | 4.5% | 1.4% | ||
| Q3 24 | 4.2% | 1.7% | ||
| Q2 24 | 3.5% | 1.8% | ||
| Q1 24 | 5.6% | 1.5% |
现金转化率EBAYIT
| Q4 25 | 1.13× | 1.22× | ||
| Q3 25 | 1.48× | 8.45× | ||
| Q2 25 | -0.83× | 1.59× | ||
| Q1 25 | 1.56× | 1.49× | ||
| Q4 24 | 1.00× | 0.84× | ||
| Q3 24 | 1.19× | 1.42× | ||
| Q2 24 | 1.64× | 1.61× | ||
| Q1 24 | 1.40× | 0.90× |
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% |
IT
| Transferred Over Time | $1.3B | 73% |
| Conferences | $286.2M | 16% |
| Consulting | $133.6M | 8% |
| Other | $52.3M | 3% |
