vs
易贝（EBAY）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是易贝的1.5倍（$4.4B vs $3.0B），标普全球净利率更高（26.8% vs 17.8%，领先9.0%），标普全球同比增速更快（191.7% vs 15.0%），易贝自由现金流更多（$478.0M vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
EBAY vs VG — 直观对比
营收规模更大
VG
是对方的1.5倍
$3.0B
营收增速更快
VG
高出176.7%
15.0%
净利率更高
VG
高出9.0%
17.8%
自由现金流更多
EBAY
多$2.0B
$-1.5B
两年增速更快
VG
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $4.4B |
| 净利润 | $528.0M | $1.2B |
| 毛利率 | 71.4% | — |
| 营业利润率 | 20.3% | 38.7% |
| 净利率 | 17.8% | 26.8% |
| 营收同比 | 15.0% | 191.7% |
| 净利润同比 | -22.2% | 20.3% |
| 每股收益（稀释后） | $1.14 | $0.41 |
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EBAYVG
| Q4 25 | $3.0B | $4.4B | ||
| Q3 25 | $2.8B | $3.3B | ||
| Q2 25 | $2.7B | $3.1B | ||
| Q1 25 | $2.6B | $2.9B | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.6B | $926.0M | ||
| Q2 24 | $2.6B | $1.1B | ||
| Q1 24 | $2.6B | $1.4B |
净利润EBAYVG
| Q4 25 | $528.0M | $1.2B | ||
| Q3 25 | $632.0M | $550.0M | ||
| Q2 25 | $368.0M | $475.0M | ||
| Q1 25 | $503.0M | $517.0M | ||
| Q4 24 | $679.0M | $990.0M | ||
| Q3 24 | $634.0M | $-294.0M | ||
| Q2 24 | $224.0M | $352.0M | ||
| Q1 24 | $438.0M | $698.0M |
毛利率EBAYVG
| Q4 25 | 71.4% | — | ||
| Q3 25 | 70.9% | — | ||
| Q2 25 | 71.6% | — | ||
| Q1 25 | 72.0% | — | ||
| Q4 24 | 72.2% | — | ||
| Q3 24 | 71.8% | — | ||
| Q2 24 | 71.4% | — | ||
| Q1 24 | 72.6% | — |
营业利润率EBAYVG
| Q4 25 | 20.3% | 38.7% | ||
| Q3 25 | 20.4% | 39.7% | ||
| Q2 25 | 17.7% | 33.5% | ||
| Q1 25 | 23.8% | 37.3% | ||
| Q4 24 | 21.1% | 39.0% | ||
| Q3 24 | 23.1% | 20.4% | ||
| Q2 24 | 21.3% | 32.8% | ||
| Q1 24 | 24.7% | 43.6% |
净利率EBAYVG
| Q4 25 | 17.8% | 26.8% | ||
| Q3 25 | 22.4% | 16.5% | ||
| Q2 25 | 13.5% | 15.3% | ||
| Q1 25 | 19.5% | 17.9% | ||
| Q4 24 | 26.3% | 65.0% | ||
| Q3 24 | 24.6% | -31.7% | ||
| Q2 24 | 8.7% | 31.8% | ||
| Q1 24 | 17.1% | 49.4% |
每股收益（稀释后）EBAYVG
| Q4 25 | $1.14 | $0.41 | ||
| Q3 25 | $1.35 | $0.16 | ||
| Q2 25 | $0.79 | $0.14 | ||
| Q1 25 | $1.06 | $0.15 | ||
| Q4 24 | $1.35 | $0.35 | ||
| Q3 24 | $1.29 | $-0.15 | ||
| Q2 24 | $0.45 | $0.12 | ||
| Q1 24 | $0.85 | $0.25 |
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 | $2.4B |
| 总债务越低越好 | $6.0B | $34.2B |
| 股东权益账面价值 | $4.6B | $6.7B |
| 总资产 | $17.6B | $53.4B |
| 负债/权益比越低杠杆越低 | 1.30× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资EBAYVG
| Q4 25 | $1.9B | $2.4B | ||
| Q3 25 | $2.4B | $1.9B | ||
| Q2 25 | $2.1B | $2.2B | ||
| Q1 25 | $3.1B | $3.6B | ||
| Q4 24 | $2.4B | $3.6B | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.1B | — |
总债务EBAYVG
| Q4 25 | $6.0B | $34.2B | ||
| Q3 25 | $5.0B | $32.6B | ||
| Q2 25 | $5.0B | $30.0B | ||
| Q1 25 | $5.8B | $29.3B | ||
| Q4 24 | $5.8B | $29.3B | ||
| Q3 24 | $6.2B | — | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.2B | — |
股东权益EBAYVG
| Q4 25 | $4.6B | $6.7B | ||
| Q3 25 | $4.7B | $5.7B | ||
| Q2 25 | $4.7B | $5.3B | ||
| Q1 25 | $5.0B | $4.9B | ||
| Q4 24 | $5.2B | $2.9B | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $5.5B | — | ||
| Q1 24 | $6.3B | — |
总资产EBAYVG
| Q4 25 | $17.6B | $53.4B | ||
| Q3 25 | $17.8B | $50.1B | ||
| Q2 25 | $18.0B | $46.5B | ||
| Q1 25 | $19.0B | $45.1B | ||
| Q4 24 | $19.4B | $43.5B | ||
| Q3 24 | $19.9B | — | ||
| Q2 24 | $20.4B | — | ||
| Q1 24 | $21.4B | — |
负债/权益比EBAYVG
| Q4 25 | 1.30× | 5.07× | ||
| Q3 25 | 1.06× | 5.73× | ||
| Q2 25 | 1.05× | 5.69× | ||
| Q1 25 | 1.16× | 6.01× | ||
| Q4 24 | 1.12× | 10.11× | ||
| 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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $478.0M | $-1.5B |
| 自由现金流率自由现金流/营收 | 16.1% | -34.1% |
| 资本支出强度资本支出/营收 | 3.9% | 81.6% |
| 现金转化率经营现金流/净利润 | 1.13× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $1.5B | $-6.8B |
8季度趋势，按日历期对齐
经营现金流EBAYVG
| Q4 25 | $595.0M | $2.1B | ||
| Q3 25 | $934.0M | $1.9B | ||
| Q2 25 | $-307.0M | $1.5B | ||
| Q1 25 | $787.0M | $1.1B | ||
| Q4 24 | $677.0M | — | ||
| Q3 24 | $755.0M | — | ||
| Q2 24 | $367.0M | — | ||
| Q1 24 | $615.0M | $638.0M |
自由现金流EBAYVG
| Q4 25 | $478.0M | $-1.5B | ||
| Q3 25 | $803.0M | $-1.4B | ||
| Q2 25 | $-441.0M | $-1.5B | ||
| Q1 25 | $644.0M | $-2.4B | ||
| Q4 24 | $560.0M | — | ||
| Q3 24 | $646.0M | — | ||
| Q2 24 | $278.0M | — | ||
| Q1 24 | $472.0M | $-2.4B |
自由现金流率EBAYVG
| Q4 25 | 16.1% | -34.1% | ||
| Q3 25 | 28.5% | -42.4% | ||
| Q2 25 | -16.2% | -49.1% | ||
| Q1 25 | 24.9% | -81.3% | ||
| Q4 24 | 21.7% | — | ||
| Q3 24 | 25.1% | — | ||
| Q2 24 | 10.8% | — | ||
| Q1 24 | 18.5% | -167.3% |
资本支出强度EBAYVG
| Q4 25 | 3.9% | 81.6% | ||
| Q3 25 | 4.6% | 98.9% | ||
| Q2 25 | 4.9% | 96.1% | ||
| Q1 25 | 5.5% | 119.8% | ||
| Q4 24 | 4.5% | — | ||
| Q3 24 | 4.2% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 5.6% | 212.4% |
现金转化率EBAYVG
| Q4 25 | 1.13× | 1.77× | ||
| Q3 25 | 1.48× | 3.42× | ||
| Q2 25 | -0.83× | 3.07× | ||
| Q1 25 | 1.56× | 2.15× | ||
| Q4 24 | 1.00× | — | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | 1.64× | — | ||
| Q1 24 | 1.40× | 0.91× |
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% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
