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ZYBERNO

Stock Report

Updated Jun 4, 2026

EVENTBRITE, INC. (EB)

Technology • NYSE

$4.51

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

19.0/100

POOR BUSINESS

EVENTBRITE, INC. (EB) scores 19/100 — concerning metrics indicating significant structural or financial risks.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full EB quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

-100.0%

Overvalued

Growth gap unavailable — insufficient data for reverse DCF calculation.

🎯 Expected Annual Return →

-18.3%

5-year annualised assuming price converges to intrinsic value

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full EB valuation analysis · → View full EB Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (-5.9%)

Debt-to-Equity (Solvency Risk):AVERAGE (0.82x)

Operating Margin (Operational Efficiency):CRITICAL (-8.9%)

Return on Capital (Capital Efficiency):CRITICAL (-82.8%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

EVENTBRITE, INC. (EB) stock report — Zyberno Score 19/100 (POOR BUSINESS), Margin of Safety -100.0%, -18% expected annual return. Full financial analysis on Zyberno.

According to Zyberno's DCF model, EVENTBRITE, INC. (EB) trades at $4.51 against an estimated intrinsic value per share of $1.81 — a -100.0% Margin of Safety based on Owner Earnings of $17.63M TTM, projected at -2.0% growth for 10 years with a 2.5% terminal growth rate. Zyberno's model translates this into a 5-year expected return of -18.3% annually.

Over the trailing twelve months, EB generated $17.63M in Owner Earnings. Capital was deployed as follows: $95.00K invested in capital expenditures. Reinvestment rate: 70.6%. Owner Earnings have declined at 2.0% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:4.51

Market Cap:$435.58M

Valuation Multiples (3)

P/B Ratio:2.43x

P/S Ratio:1.49x

Peg Ratio:-999.00x

Enterprise Metrics (2)

Enterprise Value:$280.06M

Pfcf Ratio:24.71x

B. Profitability Assessment

Return Metrics (5)

ROE:

-5.9%

📊 Click to view full EB ROE analysis →

ROA:-1.4%

Roic:

-82.8%

📊 Click to view full EB ROIC analysis →

Reinvestment Rate:70.6%

Fundamental Growth Rate (g):-58.5%

Margin Analysis (3)

Operating Margin Ttm:-8.9%

Net Margin Ttm:-3.6%

Ebitda Margin:-5.3%

TTM Performance (3)

Gross Margin Ttm:67.6%

Operating Margin Ttm:-8.9%

Net Margin Ttm:-3.6%

Yield Metrics (3)

Earnings Yield:-$2.44

Owner Earnings Yield:$4.05

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

-0.37

📊 Click to view full EB Earnings Surprise analysis →

EPS Surprise vs Expected:-1,322.2%

Latest Earnings Filed:2026-03-12

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):-1.7%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):-2.0%

Operating Cash Flow Growth Rate (Linear):-2.3%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:1.12x

Quick Ratio:1.12x

Cash Ratio:0.73x

Leverage Analysis (3)

Debt To Equity Ttm:0.82x

Debt-to-Equity Ratio:0.82x

Debt To Ebitda:-999.00x

Coverage Ratios (2)

Interest Coverage Ratio:-4.74x

Times Interest Earned:-4.74

Capital Structure (4)

Working Capital:47,471,000.00

Cash And Cash Equivalents:299,921,000.00

Long Term Debt:$53.90M

Net Debt:-$155.51M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $291.84M

Linear Growth: -1.7%

📊 Click to view full EB Revenue analysis & methodology →

Cost Of Revenue Ttm:$94.54M

Profitability Breakdown (2)

Gross profit TTM: $197.30M

Linear Growth: 5.1%

📊 Click to view full EB Gross Profit analysis & methodology →

-$26.09M

Bottom Line Performance (3)

-$10.52M

Income Before Tax:-$9.05M

Ebitda Ttm:-15,535,000.00

Operating Expenses (5)

Operating Expenses:223,393,000.00

R And D Expense:72,577,000.00

Sga Expense:69,644,000.00

Income Tax Expense:$3.08M

Interest Expense:5,508,000.00

Expense Ratios (3)

R And D To Revenue Percentage:98.7%

Sga To Revenue Percentage:94.7%

Ebitda Margin:-5.3%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$647.22M

Current Assets:$457.21M

Ppe Net:79,266,000.00

Goodwill:174,388,000.00

Intangible Assets:$0.00

Liability Structure (4)

Total Liabilities:468,079,000.00

Current Liabilities:409,738,000.00

Long Term Debt:$53.90M

Short Term Debt:$90.52M

Equity & Capital (3)

Equity:$179.14M

Retained Earnings:-$841.52M

Common Stock:1,100,000,000.00

Working Capital Items (3)

Accounts Receivable:596,000.00

Inventory:0.00

Accounts Payable:0.00

Special Items (2)

Contract Liabilities:0.00

Stock Based Compensation:8,909,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $17.73M

Linear Growth: -2.3%

Free cash flow TTM: $17.63M

Linear Growth: -2.0%

📊 Click to view full EB Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$999.00K

Capital Expenditures Ttm:95,000.00

Financing Activities (3)

Financing Cash Flow:-$41.62M

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:291,000.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$143.25M

Non-Cash Items (1)

Depreciation Amortization Ttm:10,559,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-0.11

-$0.11

Earnings Per Share Ttm:-$0.11

Revenue & Cash Per Share (3)

Sales Per Share Ttm:3.02

Operating Cash Flow Per Share:$0.18

Fcf Per Share Ttm:0.18

Book Value & Capital (2)

Book Value Per Share:$1.85

Cash Per Share:3.11

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.39x

Working Capital Turnover Ttm:6.15x

Receivables Management (2)

Receivables Turnover Ttm:489.67x

Days Sales Outstanding Ttm:0.75

Inventory Management (2)

Inventory Turnover Ttm:-999.00x

Days Inventory Outstanding Ttm:-999.00

Payables & Cash Cycle (2)

Days Payable Outstanding:-999.00

Cash Conversion Cycle:0.75

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:60.00

Quality Score:40.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $17.63M

Linear Growth: -2.0%

📊 Click to view full EB Owner Earnings analysis & methodology →

Owner Earnings Per Share:$0.18

Owner Earnings Yield:$4.05

Growth Assessment (1)

Owner Earnings Growth Rate:-$1.95

Damodaran Growth Analysis (2)

Reinvestment Rate:70.6%

Fundamental Growth Rate (g):-58.5%

Intrinsic Value Models (1)

Intrinsic Value:

$175.12M

📊 Click to view full EB DCF valuation →

Margin of Safety (1)

Margin Of Safety:

-100.0%

📊 Click to view full EB valuation analysis →

Return Scenarios (1)

Theoretical 5-Year Return:

-18.3%

📊 Click to view full EB expected return analysis →

Investment Assessment (1)

Buffett Assessment:Overvalued

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (1)

Revenue Growth Rate (Linear):-1.7%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):-2.0%

Operating Cash Flow Growth Rate (Linear):-2.3%

Other Growth Rates (3)

Gross Profit Growth Rate (Linear):5.1%

Book Value Growth Rate (Linear):2.3%

Owner Earnings Growth Rate:-$1.95

C. Company Profile & Context

Corporate Information (6)

Symbol:EB

Company Name:EVENTBRITE, INC.

Sector:Technology

Industry:Software Development

Exchange:NYSE

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:low

Volume Category:N/A

Share Structure (3)

Shares Outstanding:96.58M

Shares Outstanding Basic:96.58M

Shares Outstanding Diluted:96.58M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-06-04 16:22:28 UTC

Data Timestamp:2026-06-04T16:22:28.066699