eBaySTU:EBA +0.65%82 Beneish M-Score is -2.38 as of Jun. 25, 2026. GuruFocus rates STU:EBA with a GF Score™ of 82/100 and a GF Value™ of €71.08 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,087 Retail - Cyclical companies, eBay ranks worse than 64.67% on this metric.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for eBay's Beneish M-Score or its related term are showing as below:
STU:EBA'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.55 Med: -2.35 Max: 0.33
Current: -2.38
During the past 13 years, the highest Beneish M-Score of eBay was 0.33. The lowest was -3.55. And the median was -2.35.
eBay Beneish M-Score Related Terms
eBay Beneish M-Score Historical Data
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The historical data trend for eBay's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
STU:EBA vs SE, JD, CPNG: Beneish M-Score Comparison
For the Internet Retail subindustry, eBay's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
eBay Beneish M-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, eBay's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where eBay's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of eBay for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 1.0898
+
0.528 * 1.0012
+
0.404 * 1.0205
+
0.892 * 1.0428
+
0.115 * 0.7007
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0598
+
4.679 * -0.008138
-
0.327 * 1.0173
=
-2.44
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(277.97 / (277.97 + 1583.6))
/
(385.145 / (385.145 + 1422.06))
=
0.14932
/
0.213116
=
0.7007
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(1751.312 - 16.231
-
1861.034)
/
15477.445
=
-0.008138
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
eBay has a M-score of -2.44 suggests that the company is unlikely to be a manipulator.
eBay (STU:EBA) has a Beneish M-Score of -2.38 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on eBay and its competitors. According to the industry distribution chart, eBay ranks #703 out of 1087 companies in the Retail - Cyclical industry, placing it in the top 64.7%.
Is eBay's Beneish M-Score too high?
eBay's current Beneish M-Score is -2.38. Based on the distribution chart, eBay ranks #703 out of 1087 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, eBay has a GF Score™ of 82/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does eBay's Beneish M-Score compare to SE and JD?
According to the Retail - Cyclical industry distribution chart, eBay ranks #703 out of 1087 companies for Beneish M-Score. This places eBay in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on eBay and its competitors. eBay's current Beneish M-Score is -2.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is eBay stock overvalued right now?
Based on GuruFocus' analysis, eBay (STU:EBA) is currently considered Significantly Overvalued. The stock's GF Value™ is €71.08, compared to a current price of €96.50 — trading 35.8% above its estimated fair value. The current Beneish M-Score is -2.38. eBay's overall GF Score™ is 82/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For eBay (STU:EBA), the current Beneish M-Score is -2.38 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is eBay (STU:EBA) Overvalued in 2026?
Based on GuruFocus' analysis, eBay stock appears to be overvalued.
The current stock price of €96.50 is trading 35.8% above its estimated GF Value™ of €71.08.
GuruFocus considers eBay to be Significantly Overvalued.
Key valuation signals for STU:EBA:
Beneish M-Score: -2.38
GF Value™: €71.08 vs. price of €96.50 (35.8% above fair value)
No single metric tells the full story. See the STU:EBA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 1995, eBay operates one of the world's largest online marketplaces, connecting buyers and sellers across more than 190 markets. In 2025, the firm generated $11.1 billion in revenue on nearly $80 billion of gross merchandise volume, serving 135 million active buyers and 18 million active sellers (users who closed at least one transaction in the past year). The firm monetizes its marketplace primarily through transaction fees and advertising, with 52% of revenue derived from the US and the remainder from international markets. In a bid to expand its reach among Generation Z and in the recommerce sector, eBay announced the $1.2 billion acquisition of fashion resale app Depop from Etsy in early 2026.
82GF Score
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