eBay Inc (EBAY)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover	—	—	—	—	—	—	—	—	—	1.59	1.63	1.75	1.64	1.26	—	—	—	—	—	—
Receivables turnover	107.57	135.95	129.09	122.78	108.83	117.83	122.18	117.99	106.33	110.59	73.30	27.91	21.95	17.29	9.56	12.46	11.61	12.55	11.95	13.95
Payables turnover	10.61	9.25	9.34	9.61	10.27	12.02	10.94	11.16	10.11	9.45	8.08	6.32	7.00	4.57	4.77	5.93	7.10	6.35	6.47	7.98
Working capital turnover	1.56	1.82	1.93	1.82	1.95	7.53	9.15	4.34	2.32	0.83	0.67	6.22	2.84	2.85	2.99	5.02	12.70	5.88	5.83	4.61

Inventory turnover data is not available for EBay Inc. for the specified periods.

Receivables turnover indicates how efficiently EBay Inc. collects its accounts receivable. The ratio has been fluctuating over the quarters, with Q3 and Q4 of 2023 showing notable decreases compared to the same periods in 2022.

Payables turnover measures how quickly EBay Inc. pays its suppliers. The company has maintained a relatively stable payables turnover ratio throughout the quarters, indicating consistent payment practices.

Working capital turnover reflects how effectively EBay Inc. utilizes its working capital to generate sales revenue. The ratio has shown significant variability, with a sharp decrease in Q1 2023 compared to Q4 2022 and a subsequent increase in Q2 and Q3 2023. Overall, there is a decreasing trend in working capital turnover from 2022 to 2023.

Average number of days

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Days of inventory on hand (DOH)	days	—	—	—	—	—	—	—	—	—	228.85	224.01	208.60	222.94	290.54	—	—	—	—	—	—
Days of sales outstanding (DSO)	days	3.39	2.68	2.83	2.97	3.35	3.10	2.99	3.09	3.43	3.30	4.98	13.08	16.63	21.11	38.20	29.29	31.44	29.09	30.54	26.16
Number of days of payables	days	34.40	39.44	39.08	37.98	35.55	30.36	33.36	32.72	36.09	38.63	45.15	57.72	52.17	79.93	76.56	61.52	51.37	57.44	56.45	45.74

Based on the activity ratios provided for eBay Inc., we can analyze the efficiency of the company's inventory management, accounts receivable collection, and accounts payable turnover.

1. Days of Inventory on Hand (DOH):
Unfortunately, specific data for Days of Inventory on Hand is not available for any period in the table. This ratio typically measures how many days it takes for a company to sell its inventory. Without this data, we are unable to assess eBay's efficiency in managing its inventory levels.

2. Days of Sales Outstanding (DSO):
In Q4 2023, eBay's Days of Sales Outstanding was calculated at 3.39 days, indicating that on average, it took the company approximately 3.39 days to collect payment from its customers. This metric improved from 3.35 days in Q4 2022, demonstrating a relatively efficient accounts receivable collection process.

3. Number of Days of Payables:
The Number of Days of Payables increased from 35.55 days in Q4 2022 to 34.40 days in Q4 2023. This illustrates that eBay is taking longer to pay its suppliers. A decrease in this ratio may suggest that the company is managing its payables more efficiently and conserving cash, though it can also signify strained relationships with suppliers.

In summary, eBay Inc. has shown relatively efficient accounts receivable collection practices based on the DSO ratio, but there is a slight increase in the Number of Days of Payables, indicating a potential slowdown in paying suppliers. Without data on Days of Inventory on Hand, a comprehensive analysis of the company's overall activity ratios is limited.

Long-term

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Fixed asset turnover	8.14	8.38	8.10	7.95	7.91	8.29	8.54	8.61	8.43	8.40	7.99	7.35	7.00	6.34	5.92	5.62	5.57	5.91	6.06	6.31
Total asset turnover	0.47	0.47	0.50	0.49	0.47	0.52	0.51	0.45	0.39	0.35	0.32	0.52	0.47	0.45	0.40	0.42	0.45	0.48	0.45	0.45

Based on the provided data for EBay Inc.'s long-term activity ratios, we can observe the following trend:

1. Fixed Asset Turnover: The fixed asset turnover ratio measures how efficiently a company is generating revenue from its fixed assets. EBay Inc. has shown relatively consistent performance in this ratio over the past eight quarters, with values ranging from 7.91 to 8.38. This indicates that the company is effectively utilizing its fixed assets to generate sales, with a higher ratio suggesting better efficiency in generating revenue.

2. Total Asset Turnover: The total asset turnover ratio reflects the efficiency of a company in generating sales from all its assets. EBay Inc.'s total asset turnover has also been relatively stable, fluctuating between 0.43 and 0.50 over the same period. A total asset turnover ratio of less than 1 indicates that the company generates less in sales relative to its total assets, whereas higher values suggest better efficiency in asset utilization.

Overall, the data suggests that EBay Inc. has maintained a consistent level of efficiency in utilizing both fixed and total assets to generate revenue over the past two years. The company's ability to sustain a relatively high fixed asset turnover and a stable total asset turnover indicates sound management of its asset base for driving sales and optimizing operational performance.