It has to be a source of frustration to some investors that Amazon (Nasdaq:AMZN) can basically ignore margins and cash flow and get away with it, while eBay (Nasdaq:EBAY) delivers double-digit returns on invested capital and ample free cash flow and doesn't seem to get the same love. Given that the company is likely looking at years of ongoing investments to grow its payments business, that may not change right away. Even so, eBay looks like an underrated cash flow generator, with ample balance sheet flexibility to make additional strategic moves and/or return cash to shareholders.
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http://www.investopedia.com/stock-analysis/071813/ebay-seems-undervalued-wall-street-will-need-convincing-ebay-amzn-pay-intu-aapl.aspx
Investopedia: eBay Seems Undervalued, But Wall Street Will Need Convincing
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