EBay Inc (EBAY) is overvalued and JD.com Inc ADR (JD) is slightly undervalued.
Against our estimates of intrinsic value, JD trades at the wider discount: a margin of safety of +15%, against -78% for EBAY.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.8% (average of 3 methods) values the shares at $61.38; the price of $109.28 is 78% above that value, and 70% of that value comes from beyond year five.
Leak Score 41/100 on 9 of 12 signals
Discounting its cash flows at 6.6% (average of 2 methods) values the shares at $32.24; the price of $27.38 is 15% below that value.
Leak Score 49/100 on 3 of 12 signals
| Metric | EBAY | JD |
|---|---|---|
| Verdict | Overvalued | Slightly undervalued |
| Price | $109.28 | $27.38 |
| Intrinsic value | $61.38 | $32.24 |
| Margin of safety | -78% | +15% |
| Leak Score | 41/100 (9/12) | 49/100 (3/12) |
| Market cap | $48.6B | $32.9B |
| Revenue growth, 5 years | 4.6% | 11.0% |
| Operating margin | 21.4% | 0.2% |
| Net margin | 18.4% | 1.1% |
| Return on equity | 46.4% | 6.7% |
| Debt to equity | 1.53 | 0.48 |
| P/E | 22.6x | 18.5x |
| Forward P/E | 16.2x | 6.5x |
| P/B | 10.4x | 1.2x |
| Dividend yield | 1.1% | 3.3% |