| Stage | V | % of rev | EBAY | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $12.1B | 100.00% | $3.2B | 100.00% | V ×3.79 |
| Gross profit | $10.3B | 84.59% | $2.3B | 72.33% | V +12.3pp |
| Operating income | $7.3B | 59.82% | $616M | 19.21% | V +40.6pp |
| Pre-tax income | $7.4B | 60.63% | $605M | 18.87% | V +41.8pp |
| Net income | $6.0B | 49.44% | $497M | 15.50% | V +33.9pp |
| Stage | V | EBAY | Gap · A − B |
|---|---|---|---|
| Revenue | $12.1B100.00% | $3.2B100.00% | V ×3.79 |
| Gross profit | 84.59%$10.3B | 72.33%$2.3B | V +12.3pp |
| Operating income | 59.82%$7.3B | 19.21%$616M | V +40.6pp |
| Pre-tax income | 60.63%$7.4B | 18.87%$605M | V +41.8pp |
| Net income |
| 49.44%$6.0B |
| 15.50%$497M |
| V +33.9pp |
V · ETSY 10-KFeb 19 '26
“Further, through our agreements and arrangements with our third-party payments service providers, we are subject to evolving rules and requirements, like the Visa and Mastercard network rules and Payment Card Industry Data Security Standard, rules governing electronic funds transfers, and various fee arrangements, all of which are subject to change in ways that may adversely affect our business.”
EBAY · ETSY 10-KFeb 19 '26
“On February 15, 2026 Etsy and eBay Inc. ("eBay") entered into a Sale and Purchase Agreement (the "Purchase Agreement") for eBay to purchase Depop, for $1.2 billion in cash, subject to certain adjustments as set forth in the Purchase Agreement.”