# StubHub Holdings, Inc. (STUB)

> Source: Nexqual · https://nexqual.com/STUB · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, StubHub Holdings, Inc. (STUB), nexqual.com/STUB" · informational, not investment advice.

**Price:** USD 6.1 (+3.21% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 5.91 · day 5.89–6.17 · 52w 5.22–21.49 · market cap $2.33B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.94B, net income -$1.77B (-91.3% margin), free cash flow $634M (SEC filings).
- 1 of 80 tracked superinvestors hold STUB (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Analysts: Hold (mean 2.57 on a 1–5 scale) (14 analysts), mean target USD 10.54 (range 7–15).
- Total return with dividends: 1Y -68.2% vs S&P 500 +14.9%; 5Y -67.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-10, EPS estimate USD 0.14, revenue estimate $515M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|
| Revenue | $1.37B | $1.77B | $1.75B | $1.94B |
| Operating income | $253M | $138M | -$1.34B | -$1.35B |
| Net income | $405M | -$2.8M | -$1.91B | -$1.77B |
| EPS (diluted) | $1.14 | -$0.18 | -$6.27 | — |
| Free cash flow | $306M | $260M | $191M | $634M |
| Operating margin | 18.5% | 7.8% | -77.0% | -69.7% |
| Net margin | 29.6% | -0.2% | -109.2% | -91.3% |
| Revenue growth | — | +29.5% | -1.4% | — |
| Cash + short-term investments | $776M | $1.00B | $1.24B | — |
| Total debt | — | $2.33B | $1.51B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.2x · EV/Sales 1.1x · P/FCF 3.7x · P/B 1.4x · FCF yield 27.20% · Earnings yield -75.82% · Buyback yield (TTM) 0.00% · Net cash $297M · EV $2.03B

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold STUB. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Einhorn | Greenlight Capital | 1.39% | $54.5M | Unchanged |

## Analysts
Consensus Hold (mean 2.57 on a 1–5 scale), 14 analysts; mean target USD 10.54 (low 7, high 15).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | Guggenheim | Target lowered | Buy | $11 → $9 |
| 2026-09-18 | Citigroup | Upgrade | Neutral → Buy | $9 → $7 |
| 2026-08-21 | TD Cowen | Target lowered | Buy | $16 → $12 |
| 2026-08-13 | Oppenheimer | Target lowered | Outperform | $12 → $11 |
| 2026-08-13 | Guggenheim | Target lowered | Buy | $12.5 → $11 |
| 2026-08-13 | Evercore ISI Group | Target lowered | Outperform | $15 → $14 |
| 2026-08-13 | B of A Securities | Downgrade | Neutral → Underperform | $11 → $7.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2025-09-15) |
|---|---|---|
| Total return | -68.2% | -67.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -68.3% | -63.4% |
| Volatility (annualized) | 75.2% | 82.3% |
| Max drawdown | -73.7% (Oct 2025→Sep 2026) | -73.1% (Oct 2025→Sep 2026) |

## Peers (Internet Content & Information)
ATHM (Autohome Inc.) USD 20.4 +2.26% · RUM (RUM Group Inc.) USD 5.54 -4.81% · CARG (CarGurus, Inc.) USD 32.73 +4.94% · PPLI (People Incorporated) USD 39.58 +1.70% · DJT (Trump Media & Technology Group ) USD 6.61 -0.75% · GENI (Genius Sports Limited) USD 6.54 +1.71%

## More
Full page: https://nexqual.com/STUB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in STUB's own 10-K filed 2026-03-05 (https://www.sec.gov/Archives/edgar/data/1337634/000162828026014844/stub-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Amazon (AMZN) | "We rely on the third-party cloud infrastructure services providers, such as Amazon Web Services ("AWS") and Microsoft Azure ("Azure"), to deliver our platform to our buyers and sellers, and any disruption of, or interfer…" |
| Supplier | Microsoft (MSFT) | "We rely on the third-party cloud infrastructure services providers, such as Amazon Web Services ("AWS") and Microsoft Azure ("Azure"), to deliver our platform to our buyers and sellers, and any disruption of, or interfer…" |
| Supplier | Apple (AAPL) | "We rely on third-party application platforms, such as the Apple App Store and Google Play Store, to enable downloads of our applications and these platforms are an important distribution channel for our applications." |
| Supplier | Alphabet (Google) (GOOGL) | "We rely on third-party application platforms, such as the Apple App Store and Google Play Store, to enable downloads of our applications and these platforms are an important distribution channel for our applications." |
| Partner | Madrone Partners | "We are party to a side letter regarding governance with Madrone Partners, L.P. ("Madrone") and Bessemer Venture Partners ("Bessemer"), each a holder of more than 5% of our capital stock, and Eric Baker, our Founder and C…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Transaction fees | $562.1M | 98.1% | +34.4% |
| Other revenue | $10.9M | 1.9% | -8.7% |
| Total revenue | $573.1M | 100% | — |

## Company outlook (8-K filed 2026-08-12)

- "StubHub is increasing its GMS outlook and reiterating its adjusted EBITDA outlook for full year 2026: • GMS of $10.1 billion to $10.3 billion • Adjusted EBITDA 2 of $400 million to $420 million These guidance ranges constitute forward-looking statements and reflect information available to the company as of the date hereof."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.14 | $0.15 | -9.6% | $514.6M | 4 |
| Next quarter (ends 2026-12-31) | $0.13 | $0.09 | +45.6% | $488.6M | 3 |
| Current fiscal year (ends 2026-12-31) | $0.54 | $0.67 | -19.0% | $2.02B | 2 |
| Next fiscal year (ends 2027-12-31) | $0.61 | $0.76 | -19.4% | $2.22B | 3 |