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StubHub Holdings, Inc.

STUB NYSE Services-Miscellaneous Amusement & Recreation Financials FY2023–FY2025

Revenue Total sales reported in the income statement.
$1.7B
1.4% vs prior year
Operating margin Operating income as a share of revenue.
−77.0%
84.8 pts
Net income Profit after all expenses, interest and tax.
−$1.9B
Free cash flow Cash from operations minus capital spending.
$191M
26.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−73.3%
77.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
—
P/E Last close divided by diluted earnings per share over the last four quarters.
—
On −$5.84 EPS (TTM)

What StubHub Holdings, Inc. does

No business description yet.

Legal name
StubHub Holdings, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Mar 5, 2026
Accession · CIK
0001628280-26-014844
0001337634

Revenue and margins

StubHub Holdings, Inc. had $1.7B of revenue in fiscal 2025, down 1.4% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $191M in fiscal 2025, 11.0% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

StubHub Holdings, Inc. returned $1.0M to shareholders in fiscal 2025, 1% of free cash flow. The diluted share count rose 4.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably StubHub Holdings, Inc. can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY23FY24FY25
Cash and short-term investments $776M$1.0B$1.2B
Debt incl. finance leases —$2.3B$1.5B
Net debt / EBITDA —8.2x—
Debt / equity —2.6x1.3x
Interest coverage 1.6x0.8x−9.6x
Current ratio —0.9x1.0x
Quick ratio —0.9x1.0x
Total assets —$5.1B$5.1B
Total liabilities —$3.7B$3.1B
Shareholders' equity $890M$881M$1.2B
Net debt (− = net cash) —$1.3B$265M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✕ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose — — ✕
Cash from operations exceeds net income ✕ ✓ ✓
Debt fell relative to assets — — ✓
Current ratio rose — — ✓
Share count didn't rise — ✓ ✕
Gross margin rose — — —
Revenue rose relative to assets — — ✕
F-score — / 3— / 44 / 8
Accruals ratio —−5.2%−41.4%
Altman Z'' —−0.61−3.53

3 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY23FY24FY25
Income statement
Revenue $1.4B $1.8B $1.7B
Operating income $253M $138M −$1.3B
Interest expense $156M $180M $140M
Pretax income $85.6M $37.3M −$1.5B
Income tax −$320M $40.1M $361M
Net income $405M −$2.8M −$1.9B
Net income to common $352M −$55.1M −$2.0B
Diluted EPS $1.14 −$0.18 −$6.27
Diluted shares 0.31B 0.30B 0.32B
Cash flow
Cash from operations $307M $261M $193M
Capital expenditure $1.7M $1.7M $1.4M
Free cash flow $306M $260M $191M
Depreciation and amortization $22.8M $24.5M $25.6M
Stock-based compensation $34.9M $7.7M $1.4B
Share buybacks $1.1M $0.0M $1.0M
Dividends and buybacks $1.1M $0.0M $1.0M
Balance sheet
Cash and short-term investments $776M $1.0B $1.2B
Total debt — $2.3B $1.5B
Current assets — $1.1B $1.3B
Current liabilities — $1.1B $1.3B
Inventory — $16.1M $9.2M
Property and equipment, net — $6.5M $73.3M
Goodwill — $2.7B $2.7B
Intangible assets — $925M $903M
Total assets — $5.1B $5.1B
Total liabilities — $3.7B $3.1B
Shareholders' equity $890M $881M $1.2B
Margins
Operating margin 18.5% 7.8% −77.0%
EBITDA margin 20.2% 9.2% −75.5%
Net margin 29.6% −0.2% −109.2%
FCF margin 22.3% 14.7% 11.0%
Returns
Return on capital — 4.1% −73.3%
Return on capital employed — 3.5% −35.3%
Return on equity 45.5% −0.3% −184.7%
Return on assets — −0.1% −37.6%
Return on tangible equity 39.5% — —
Growth
Revenue growth — 29.5% −1.4%
Net income growth — −100.7% —
EPS growth — −115.8% —
FCF growth — −15.0% −26.4%
Share count change — −1.1% 4.9%
Financial health
Net debt / EBITDA — 8.2x —
Debt / equity — 2.6x 1.3x
Interest coverage 1.6x 0.8x −9.6x
Current ratio — 0.9x 1.0x
Quick ratio — 0.9x 1.0x
Capital allocation
Capex / revenue 0.1% 0.1% 0.1%
Stock comp / revenue 2.6% 0.4% 83.0%
Payouts / FCF 0.4% 0.0% 0.5%
Quality scores
Piotroski F-score — — 4.0
Altman Z'' — −0.6 −3.5
Accruals ratio — −5.2% −41.4%

Source: SEC EDGAR XBRL filings (CIK 0001337634). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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