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StubHub Holdings

STUB
38
Internet Content & Information · Communication Services
Price
$6.68
-0.15 (-2.20%)
Market Cap
$2.34B
Winston Score
38
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Mixed
Cash Flow
Mixed
Stability
Mixed
Valuation
Data not available

Share count rising — dilution

+5.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 329.1M (2021) → 346.1M (2025)

Winston Score History

The full picture

StubHub is an online marketplace where people buy and sell tickets to live events like concerts, sports games, and theater shows. It connects fans who want tickets with sellers who already have them, acting as a middleman for the secondary ticket market. StubHub is one of the largest ticket resale platforms in the world and competes directly with Ticketmaster's resale business and smaller rivals like SeatGeek.

The company makes money by charging fees to both buyers and sellers on each ticket transaction, keeping a percentage of every sale. StubHub operates primarily in the United States but also has a presence in international markets across Europe and beyond. Its brand recognition and large inventory of listings give it a network effect — more sellers attract more buyers, and vice versa — but the company is currently spending heavily and losing money at the operating level, meaning its biggest challenge is reaching profitability while fending off well-funded competitors.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+33.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+136.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

27.8%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$1.7B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

StubHub Holdings grew revenue 33% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
80.0%
Premium pricing power — 80.0% gross margin
Profit after running costs
Operating Margin
7.3%
Modest — 7.3% operating margin
Return on the money invested
ROCE
-36.5%
Weak — -36.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+7.9%
Steady sales growth (+7.9% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
32.7%
Converts sales into free cash efficiently (32.7%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.67
Moderate — manageable debt (0.67)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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