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Etsy (ETSY) Financials

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$57.88 -0.53 (-0.91%)
Closing price 05/15/2026 03:59 PM Eastern
Extended Trading
$57.54 -0.34 (-0.59%)
As of 05/15/2026 07:51 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Etsy

Annual Income Statements for Etsy

This table shows Etsy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -54 -30 82 77 96 349 494 -694 308 303 163
Consolidated Net Income / (Loss)		 -54 -30 82 77 96 349 494 -694 308 303 163
Net Income / (Loss) Continuing Operations		 -54 -30 82 77 96 349 494 -694 308 303 163
Total Pre-Tax Income 		-28 -2.88 32 55 81 366 472 -662 293 411 247
Total Operating Income		 -1.88 18 12 75 89 424 466 -659 280 380 266
Total Gross Profit		 177 242 290 413 547 1,261 1,675 1,822 1,920 2,034 2,066
Total Revenue		 273 365 441 604 818 1,726 2,329 2,566 2,748 2,808 2,884
Operating Revenue		 273 365 441 604 818 1,726 2,329 2,566 2,748 2,808 2,884
Total Cost of Revenue		 97 123 151 191 271 465 655 745 829 775 818
Operating Cost of Revenue		 97 123 151 191 271 465 655 745 829 775 818
Total Operating Expenses		 178 224 278 338 459 837 1,209 2,480 1,640 1,654 1,799
Selling, General & Admin Expense		 69 86 91 83 121 156 283 312 343 354 333
Marketing Expense		 67 82 109 158 216 501 655 710 759 857 915
Research & Development Expense		 43 55 75 97 122 180 272 412 469 443 450
Impairment Charge		 0.00 0.55 3.16 - - 0.00 0.00 1,045 68 0.00 102
Total Other Income / (Expense), net		 -26 -20 20 -20 -8.12 -58 5.92 -3.42 13 31 -20
Interest Expense		 1.53 7.20 11 22 24 59 9.89 14 14 14 19
Interest & Investment Income		 0.32 1.70 2.39 8.96 13 7.10 2.14 11 36 31 44
Other Income / (Expense), net		 -25 -15 29 -6.49 3.01 -6.52 14 -0.21 -8.98 13 -46
Income Tax Expense		 26 27 -50 -22 -15 16 -22 32 -15 107 84
Basic Earnings per Share		 ($0.59) ($0.26) $0.69 $0.64 $0.80 $2.88 $3.88 ($5.48) $2.51 $2.64 $1.59
Weighted Average Basic Shares Outstanding		 91.12M 113.56M 118.54M 120.15M 119.67M 121.25M 127.22M 126.78M 122.50M 114.94M 102.36M
Diluted Earnings per Share		 ($0.59) ($0.26) $0.68 $0.61 $0.76 $2.69 $3.40 ($5.48) $2.24 $2.35 $1.39
Weighted Average Diluted Shares Outstanding		 91.12M 113.56M 122.27M 127.08M 125.72M 136.41M 146.68M 126.78M 140.15M 131.72M 124.11M
Weighted Average Basic & Diluted Shares Outstanding		 91.12M 115M 118.60M 119.57M 117.95M 126.05M 127.03M 124.65M 118.49M 107.07M 96.25M

Quarterly Income Statements for Etsy

This table shows Etsy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 88 83 63 53 57 130 -52 29 76 111 70
Consolidated Net Income / (Loss)		 88 83 63 53 57 130 -52 29 76 111 70
Net Income / (Loss) Continuing Operations		 88 83 63 53 57 130 -35 29 76 111 105
Total Pre-Tax Income 		97 109 80 79 74 178 -15 51 92 137 129
Total Operating Income		 89 115 68 70 87 155 -3.87 76 83 129 120
Total Gross Profit		 447 587 459 464 477 634 444 479 483 644 456
Total Revenue		 636 842 646 648 662 852 612 673 678 882 631
Operating Revenue		 636 842 646 648 662 852 612 673 678 882 631
Total Cost of Revenue		 189 256 187 184 186 218 168 194 195 238 176
Operating Cost of Revenue		 189 256 187 184 186 218 168 194 195 238 176
Total Operating Expenses		 359 471 391 394 390 479 448 403 401 515 336
Selling, General & Admin Expense		 84 93 89 96 86 83 74 79 79 94 62
Marketing Expense		 161 261 192 183 197 285 172 212 208 306 174
Research & Development Expense		 114 117 110 114 107 111 101 112 113 114 99
Impairment Charge		 0.00 - 0.00 0.00 0.00 - 102 0.00 0.00 - 0.00
Total Other Income / (Expense), net		 8.41 -6.29 12 8.81 -13 23 -11 -25 9.37 7.36 9.41
Other Income / (Expense), net		 - - - 4.86 -17 - -11 -31 0.78 - 9.41
Income Tax Expense		 9.12 26 17 26 16 48 21 22 17 26 25
Net Income / (Loss) Discontinued Operations		 - - - - - - -17 - - - -35
Basic Earnings per Share		 $0.72 $0.69 $0.53 $0.46 $0.50 $1.15 ($0.49) $0.28 $0.76 $1.04 $0.72
Weighted Average Basic Shares Outstanding		 121.81M 122.50M 118.44M 116.43M 114.18M 114.94M 107.08M 103.21M 99.33M 102.36M 96.24M
Diluted Earnings per Share		 $0.64 $0.62 $0.48 $0.41 $0.45 $1.01 ($0.49) $0.25 $0.63 $1.00 $0.60
Weighted Average Diluted Shares Outstanding		 138.89M 140.15M 135.34M 133.12M 130.75M 131.72M 107.08M 121.51M 124.96M 124.11M 121.03M
Weighted Average Basic & Diluted Shares Outstanding		 119.75M 118.49M 116.93M 114.75M 112.49M 107.07M 104.28M 99.11M 98.71M 96.25M 94.90M

Annual Cash Flow Statements for Etsy

This table details how cash moves in and out of Etsy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 202 -90 134 52 76 801 -464 141 -12 -103 593
Net Cash From Operating Activities		 33 48 69 199 207 679 652 684 706 752 693
Net Cash From Continuing Operating Activities		 33 48 69 199 207 679 652 684 706 752 693
Net Income / (Loss) Continuing Operations		 -54 -30 82 77 96 349 494 -694 308 303 163
Consolidated Net Income / (Loss)		 -54 -30 82 77 96 349 494 -694 308 303 163
Depreciation Expense		 19 23 27 27 48 58 74 97 91 108 102
Non-Cash Adjustments To Reconcile Net Income		 42 39 8.86 57 66 142 149 1,296 380 276 429
Changes in Operating Assets and Liabilities, net		 9.32 -0.51 -49 37 -5.25 126 -65 -15 -74 65 -0.69
Net Cash From Investing Activities		 -23 -135 62 -285 -488 -11 -1,558 -30 -73 -53 32
Net Cash From Continuing Investing Activities		 -23 -135 62 -285 -486 -11 -1,558 -30 -73 -53 32
Purchase of Property, Plant & Equipment		 -21 -48 -13 -21 -15 -7.11 -28 -31 -40 -43 -55
Purchase of Investments		 -26 -161 -62 -514 -662 -499 -419 -270 -343 -331 -327
Divestitures		 - - - - - - - - 0.00 0.00 100
Sale and/or Maturity of Investments		 24 81 137 285 461 496 591 278 309 321 313
Net Cash From Financing Activities		 196 -0.52 6.56 144 360 119 453 -506 -657 -787 -170
Net Cash From Continuing Financing Activities		 196 -0.52 6.56 144 360 119 453 -506 -657 -787 -170
Repayment of Debt		 -3.38 -9.19 -7.80 -16 -3.64 -156 -55 -10 -4.07 0.50 -29
Repurchase of Common Equity		 -4.05 0.00 -10 -135 -177 -269 -303 -426 -577 -724 -777
Issuance of Debt		 - 0.00 3.12 345 650 650 1,000 - 0.00 0.00 700
Other Financing Activities, net		 3.63 8.66 22 -50 -110 -106 -189 -70 -75 -64 -64
Effect of Exchange Rate Changes		 -3.95 -1.66 - -6.00 - 14 -10 -6.02 12 -15 38
Cash Interest Paid		 1.35 2.00 7.56 10 3.21 3.41 6.05 9.53 9.32 9.05 12

Quarterly Cash Flow Statements for Etsy

This table details how cash moves in and out of Etsy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -105 172 -125 -30 60 -7.76 -162 534 68 153 -101
Net Cash From Operating Activities		 219 295 69 151 217 315 49 108 219 317 81
Net Cash From Continuing Operating Activities		 219 295 69 151 217 315 50 108 219 317 103
Net Income / (Loss) Continuing Operations		 88 83 63 53 57 130 -35 29 76 111 105
Consolidated Net Income / (Loss)		 88 83 63 53 57 130 -52 29 76 111 70
Net Income / (Loss) Discontinued Operations		 - - - - - - -17 - - - -35
Depreciation Expense		 22 23 27 27 28 26 17 25 24 25 15
Non-Cash Adjustments To Reconcile Net Income		 72 83 122 122 167 -83 175 71 25 103 52
Changes in Operating Assets and Liabilities, net		 36 106 -143 -51 -35 241 -107 -17 94 79 -69
Net Cash From Discontinued Operating Activities		 - - - - - - -0.63 - - - -22
Net Cash From Investing Activities		 -11 -19 -25 -2.64 -9.02 -16 -21 76 -24 0.55 -17
Net Cash From Continuing Investing Activities		 -11 -19 -25 -2.64 -9.02 -16 -19 76 -24 0.55 -13
Purchase of Property, Plant & Equipment		 -11 -13 -9.71 -10 -13 -10 -12 -18 -14 -9.24 -9.86
Purchase of Investments		 -91 -55 -142 -51 -74 -64 -117 -81 -54 -75 -84
Sale and/or Maturity of Investments		 90 48 127 58 78 58 110 74 43 85 81
Net Cash From Discontinued Investing Activities		 - - - - - - -1.71 - - - -3.20
Net Cash From Financing Activities		 -305 -116 -163 -175 -167 -282 -205 327 -127 -165 -158
Net Cash From Continuing Financing Activities		 -305 -116 -163 -175 -167 -282 -205 327 -127 -165 -158
Repayment of Debt		 -0.01 -1.51 0.56 3.26 -1.40 -1.92 -8.87 -1.63 -19 -0.14 0.10
Repurchase of Common Equity		 -297 -93 -158 -150 -156 -260 -189 -335 -120 -133 -145
Other Financing Activities, net		 -7.63 -21 -5.23 -28 -9.54 -21 -6.74 -20 -5.44 -32 -13
Effect of Exchange Rate Changes		 -7.54 12 -6.40 -2.80 18 -24 14 - - 1.08 -6.63

Annual Balance Sheets for Etsy

This table presents Etsy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 553 581 606 902 1,542 2,404 3,832 2,635 2,685 2,418 2,827
Total Current Assets		 359 371 439 680 921 1,895 1,342 1,514 1,570 1,328 1,961
Cash & Equivalents		 271 182 315 367 443 1,244 780 921 914 811 1,355
Restricted Cash		 - - - - - - - - - 0.00 8.52
Short-Term Investments		 22 100 25 257 374 425 204 250 236 228 224
Accounts Receivable		 40 56 78 33 65 169 247 262 290 198 214
Prepaid Expenses		 9.52 16 20 23 39 56 109 80 130 90 114
Other Current Nonoperating Assets		 - - - - - - - - - - 54
Plant, Property, & Equipment, net		 105 126 118 120 145 112 275 250 250 237 206
Plant, Property & Equipment, gross		 105 126 118 120 145 112 275 250 250 237 206
Total Noncurrent Assets		 89 84 49 101 476 397 2,215 871 865 853 652
Long-Term Investments		 - - - 0.00 89 39 85 29 87 112 134
Goodwill		 28 36 39 37 139 141 1,371 138 138 137 38
Intangible Assets		 2.87 7.51 4.10 35 199 187 607 535 457 414 15
Noncurrent Deferred & Refundable Income Taxes		 - - 0.16 23 14 0.12 96 122 138 146 119
Other Noncurrent Operating Assets		 53 41 5.90 5.85 35 30 56 48 45 45 39
Other Noncurrent Nonoperating Assets		 5.34 - - - - - - - - - 307
Total Liabilities & Shareholders' Equity		 553 581 606 902 1,542 2,404 3,832 2,635 2,685 2,418 2,827
Total Liabilities		 223 236 209 501 1,136 1,662 3,203 3,182 3,229 3,177 3,925
Total Current Liabilities		 80 84 102 112 189 455 616 632 711 665 1,364
Short-Term Debt		 5.61 6.83 5.80 3.88 - - - - - 0.00 649
Accounts Payable		 14 11 14 27 26 41 28 29 30 26 28
Accrued Expenses		 31 24 29 49 88 232 328 331 354 375 342
Current Deferred Revenue		 4.71 5.65 6.26 7.48 7.62 11 12 14 15 19 27
Other Current Liabilities		 24 36 48 25 66 170 247 258 313 245 265
Other Current Nonoperating Liabilities		 - - - - - - - - - - 52
Total Noncurrent Liabilities		 142 152 106 389 947 1,207 2,588 2,550 2,518 2,512 2,562
Long-Term Debt		 - - 0.00 276 785 1,062 2,275 2,280 2,284 2,288 2,333
Noncurrent Deferred & Payable Income Tax Liabilities		 61 65 24 30 64 58 79 45 13 7.96 8.81
Other Noncurrent Operating Liabilities		 73 82 78 80 98 87 233 226 221 215 219
Other Noncurrent Nonoperating Liabilities		 - - - - - - - - - - 1.11
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 330 345 397 401 407 742 629 -547 -544 -759 -1,098
Total Preferred & Common Equity		 330 345 397 401 407 742 629 -547 -544 -759 -1,098
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 330 345 397 401 407 742 629 -547 -544 -759 -1,098
Common Stock		 406 443 500 562 643 883 632 815 1,081 1,323 1,532
Retained Earnings		 -86 -116 -96 -153 -227 -147 72 -1,048 -1,357 -1,784 -2,404
Accumulated Other Comprehensive Income / (Loss)		 11 18 -6.38 -7.81 -8.70 5.95 -75 -314 -267 -298 -226

Quarterly Balance Sheets for Etsy

This table presents Etsy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 2,569 2,449 2,685 2,498 2,448 2,442 2,418 2,121 2,557 2,653 2,681
Total Current Assets		 1,414 1,344 1,570 1,404 1,359 1,321 1,328 1,110 1,648 1,794 2,113
Cash & Equivalents		 842 742 914 789 759 819 811 649 1,183 1,249 1,214
Restricted Cash		 - - - - - - - - - 1.96 7.59
Short-Term Investments		 235 235 236 255 241 226 228 219 229 259 211
Accounts Receivable		 244 241 290 256 250 181 198 171 147 176 195
Prepaid Expenses		 93 126 130 105 109 95 90 71 89 110 99
Other Current Nonoperating Assets		 - - - - - - - - - - 394
Plant, Property, & Equipment, net		 243 246 250 242 239 243 237 238 230 232 202
Plant, Property & Equipment, gross		 243 246 250 242 239 243 237 238 230 232 202
Total Noncurrent Assets		 912 860 865 851 850 879 853 773 679 625 358
Long-Term Investments		 74 77 87 84 94 107 112 129 127 108 151
Goodwill		 138 137 138 138 138 139 137 36 38 38 38
Intangible Assets		 474 453 457 445 436 444 414 414 317 304 13
Noncurrent Deferred & Refundable Income Taxes		 170 146 138 141 138 144 146 149 156 134 115
Other Noncurrent Operating Assets		 55 46 45 43 46 45 45 45 41 41 42
Other Noncurrent Nonoperating Assets		 - - - - - - - - - - 0.00
Total Liabilities & Shareholders' Equity		 2,569 2,449 2,685 2,498 2,448 2,442 2,418 2,121 2,557 2,653 2,681
Total Liabilities		 3,033 3,072 3,229 3,081 3,083 3,067 3,177 3,031 3,682 3,765 3,818
Total Current Liabilities		 503 549 711 565 564 553 665 519 486 565 1,251
Short-Term Debt		 - - - - - - - - - - 649
Accounts Payable		 15 14 30 10 13 20 26 17 15 9.22 15
Accrued Expenses		 232 272 354 263 257 299 375 264 254 309 261
Current Deferred Revenue		 14 15 15 14 16 17 19 22 24 26 30
Other Current Liabilities		 242 248 313 279 279 217 245 215 193 221 243
Other Current Nonoperating Liabilities		 - - - - - - - - - - 52
Total Noncurrent Liabilities		 2,530 2,523 2,518 2,516 2,519 2,514 2,512 2,512 3,195 3,200 2,567
Long-Term Debt		 2,282 2,283 2,284 2,285 2,286 2,287 2,288 2,289 2,979 2,981 2,335
Noncurrent Deferred & Payable Income Tax Liabilities		 29 25 13 11 8.79 7.10 7.96 7.41 5.43 5.35 9.78
Other Noncurrent Operating Liabilities		 219 215 221 220 224 219 215 215 211 214 223
Other Noncurrent Nonoperating Liabilities		 - - - - - - - - - - 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -464 -623 -544 -584 -635 -624 -759 -910 -1,125 -1,113 -1,137
Total Preferred & Common Equity		 -464 -623 -544 -584 -635 -624 -759 -910 -1,125 -1,113 -1,137
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -464 -623 -544 -584 -635 -624 -759 -910 -1,125 -1,113 -1,137
Common Stock		 958 1,028 1,081 1,152 1,203 1,270 1,323 1,385 1,431 1,494 1,584
Retained Earnings		 -1,135 -1,347 -1,357 -1,454 -1,553 -1,652 -1,784 -2,027 -2,336 -2,381 -2,481
Accumulated Other Comprehensive Income / (Loss)		 -287 -304 -267 -282 -286 -242 -298 -268 -220 -226 -240

Annual Metrics And Ratios for Etsy

This table displays calculated financial ratios and metrics derived from Etsy's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 39.83% 33.44% 20.90% 36.82% 35.56% 110.86% 34.97% 10.18% 7.10% 2.18% 2.68%
EBITDA Growth		 19.49% 368.89% 61.68% 40.16% 47.36% 237.37% 15.73% -201.52% 164.44% 38.51% -35.71%
EBIT Growth		 -175.89% 109.80% 1,461.35% 66.58% 34.36% 354.94% 14.83% -237.41% 141.12% 45.31% -43.93%
NOPAT Growth		 69.86% 1,032.96% 145.12% 248.88% 0.31% 283.65% 20.35% -194.60% 163.76% -4.50% -37.34%
Net Income Growth		 -254.67% 44.69% 373.57% -5.27% 23.75% 264.20% 41.31% -240.68% 144.30% -1.39% -46.26%
EPS Growth		 -55.26% 55.93% 361.54% -10.29% 24.59% 253.95% 26.39% -261.18% 140.88% 4.91% -40.85%
Operating Cash Flow Growth		 174.30% 44.67% 44.07% 187.88% 4.02% 228.12% -4.04% 4.92% 3.20% 6.66% -7.85%
Free Cash Flow Firm Growth		 117.99% -251.59% 327.40% 190.45% -207.25% 592.49% -310.67% 167.31% -61.69% 25.80% 6.62%
Invested Capital Growth		 -21.62% 64.48% -11.42% -10.84% 382.71% -66.19% 1,802.68% -71.02% -5.37% -24.85% -67.90%
Revenue Q/Q Growth		 9.17% 6.51% 6.28% 11.81% 9.35% 25.20% 4.48% 3.64% 1.29% 0.35% 1.03%
EBITDA Q/Q Growth		 221.06% -21.57% 77.74% 8.79% 9.92% 39.54% -0.02% -0.95% -8.26% 12.68% -18.41%
EBIT Q/Q Growth		 14.11% -86.58% 584.72% 8.81% 3.55% 47.79% -2.44% -0.47% -10.82% 15.58% -24.41%
NOPAT Q/Q Growth		 81.39% 167.76% 1,564.47% 3.11% -13.60% 42.65% 0.54% -0.44% -9.69% 9.73% -4.66%
Net Income Q/Q Growth		 2.04% -134.52% 422.12% -4.32% -9.41% 50.54% 2.71% -8.10% -7.87% 18.17% -10.52%
EPS Q/Q Growth		 46.85% -183.87% 466.67% -6.15% -8.43% 48.62% -1.16% -1.29% -15.47% 19.90% -0.71%
Operating Cash Flow Q/Q Growth		 73.51% 9.01% 37.01% 48.83% -10.19% 32.13% 7.74% 0.19% 0.48% 2.71% 0.31%
Free Cash Flow Firm Q/Q Growth		 0.00% 70.24% 11.56% 102.22% -25.34% 37.26% 0.43% -0.11% 1.48% 15.30% -2.93%
Invested Capital Q/Q Growth		 9.29% -7.24% 50.97% -34.61% -7.62% -39.76% -3.49% -11.27% -17.10% -25.99% -51.39%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 64.54% 66.21% 65.78% 68.40% 66.88% 73.07% 71.90% 70.98% 69.85% 72.42% 71.64%
EBITDA Margin		 3.31% 11.64% 15.56% 15.94% 17.33% 27.72% 23.77% -21.90% 13.18% 17.86% 11.19%
Operating Margin		 -0.69% 4.82% 2.70% 12.39% 10.85% 24.57% 20.00% -25.66% 10.18% 13.54% 9.23%
EBIT Margin		 -9.80% 0.72% 9.29% 11.31% 11.21% 24.19% 20.58% -25.67% 9.86% 14.02% 7.65%
Profit (Net Income) Margin		 -19.77% -8.19% 18.54% 12.84% 11.72% 20.24% 21.19% -27.06% 11.19% 10.80% 5.65%
Tax Burden Percent		 193.12% 1,039.67% 253.53% 140.69% 118.91% 95.50% 104.63% 104.88% 105.04% 73.83% 66.07%
Interest Burden Percent		 104.49% -109.52% 78.69% 80.64% 87.88% 87.60% 98.38% 100.49% 108.11% 104.36% 111.77%
Effective Tax Rate		 0.00% 0.00% -153.53% -40.69% -18.91% 4.50% -4.63% 0.00% -5.04% 26.17% 33.93%
Return on Invested Capital (ROIC)		 -2.55% 20.46% 42.76% 167.90% 61.32% 212.24% 50.48% -38.97% 56.83% 63.73% 70.46%
ROIC Less NNEP Spread (ROIC-NNEP)		 25.63% 35.67% 25.57% 176.15% 65.49% 226.75% 52.69% -59.39% 58.11% 65.79% 69.36%
Return on Net Nonoperating Assets (RNNOA)		 -20.08% -29.32% -20.70% -148.48% -37.57% -151.45% 21.51% -1,668.05% -113.21% -110.29% -88.01%
Return on Equity (ROE)		 -22.63% -8.86% 22.06% 19.43% 23.75% 60.79% 71.99% -1,707.02% -56.38% -46.57% -17.55%
Cash Return on Invested Capital (CROIC)		 21.69% -28.30% 54.87% 179.36% -70.04% 311.17% -129.55% 71.17% 62.35% 92.10% 173.27%
Operating Return on Assets (OROA)		 -6.70% 0.46% 6.91% 9.06% 7.51% 21.16% 15.37% -20.37% 10.18% 15.43% 8.42%
Return on Assets (ROA)		 -13.53% -5.27% 13.79% 10.28% 7.85% 17.70% 15.83% -21.47% 11.56% 11.89% 6.21%
Return on Common Equity (ROCE)		 -18.83% -8.86% 22.06% 19.43% 23.75% 60.79% 71.99% -1,707.02% -56.38% -46.57% -17.55%
Return on Equity Simple (ROE_SIMPLE)		 -16.36% -8.67% 20.61% 19.33% 23.58% 47.04% 78.51% 126.86% -56.57% -39.97% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.32 12 30 105 106 405 487 -461 294 281 176
NOPAT Margin		 -0.48% 3.37% 6.84% 17.43% 12.90% 23.47% 20.92% -17.96% 10.69% 10.00% 6.10%
Net Nonoperating Expense Percent (NNEP)		 -28.18% -15.21% 17.20% -8.25% -4.17% -14.51% -2.21% 20.42% -1.28% -2.07% 1.10%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -26.61% 16.89% 18.36% 9.34%
Cost of Revenue to Revenue		 35.46% 33.79% 34.22% 31.60% 33.12% 26.93% 28.10% 29.02% 30.15% 27.58% 28.36%
SG&A Expenses to Revenue		 25.21% 23.61% 20.73% 13.73% 14.80% 9.04% 12.13% 12.17% 12.49% 12.60% 11.54%
R&D to Revenue		 15.61% 15.09% 16.91% 16.11% 14.89% 10.44% 11.66% 16.07% 17.08% 15.78% 15.61%
Operating Expenses to Revenue		 65.23% 61.39% 63.08% 56.01% 56.04% 48.50% 51.90% 96.65% 59.67% 58.88% 62.41%
Earnings before Interest and Taxes (EBIT)		 -27 2.63 41 68 92 417 479 -659 271 394 221
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 9.06 42 69 96 142 478 554 -562 362 502 323
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.80 3.95 6.27 14.29 12.91 30.22 44.16 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 3.09 4.51 7.03 17.43 76.44 54.16 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 3.39 3.73 5.64 9.49 6.41 13.00 11.92 5.87 3.53 2.12 1.90
Price to Earnings (P/E)		 0.00 0.00 30.43 73.95 54.74 64.23 56.25 0.00 31.56 19.62 33.58
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 3.29% 1.35% 1.83% 1.56% 1.78% 0.00% 3.17% 5.10% 2.98%
Enterprise Value to Invested Capital (EV/IC)		 14.21 14.59 32.58 91.21 17.98 225.98 15.79 30.35 21.38 18.75 55.16
Enterprise Value to Revenue (EV/Rev)		 2.36 2.99 4.89 8.93 6.27 12.63 12.44 6.29 3.91 2.52 2.32
Enterprise Value to EBITDA (EV/EBITDA)		 71.36 25.70 31.44 55.99 36.16 45.54 52.31 0.00 29.69 14.13 20.75
Enterprise Value to EBIT (EV/EBIT)		 0.00 415.63 52.64 78.90 55.88 52.19 60.42 0.00 39.70 18.00 30.32
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 88.71 71.57 51.21 48.58 53.81 59.43 0.00 36.58 25.25 38.04
Enterprise Value to Operating Cash Flow (EV/OCF)		 19.49 22.76 31.24 27.09 24.78 32.09 44.45 23.60 15.24 9.42 9.65
Enterprise Value to Free Cash Flow (EV/FCFF)		 57.57 0.00 55.78 47.94 0.00 36.70 0.00 19.16 33.34 17.47 15.47
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.04 0.04 0.03 0.70 1.93 1.43 3.62 -4.17 -4.20 -3.02 -2.72
Long-Term Debt to Equity		 0.02 0.02 0.01 0.69 1.93 1.43 3.62 -4.17 -4.20 -3.02 -2.12
Financial Leverage		 -0.78 -0.82 -0.81 -0.84 -0.57 -0.67 0.41 28.09 -1.95 -1.68 -1.27
Leverage Ratio		 1.67 1.68 1.60 1.89 3.03 3.43 4.55 79.50 -4.88 -3.92 -2.82
Compound Leverage Factor		 1.75 -1.84 1.26 1.52 2.66 3.01 4.48 79.89 -5.27 -4.09 -3.16
Debt to Total Capital		 3.84% 3.40% 2.44% 41.33% 65.88% 58.86% 78.35% 131.59% 131.25% 149.62% 158.28%
Short-Term Debt to Total Capital		 1.63% 1.91% 1.43% 0.57% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 34.45%
Long-Term Debt to Total Capital		 2.20% 1.48% 1.01% 40.77% 65.88% 58.86% 78.35% 131.59% 131.25% 149.62% 123.84%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 96.16% 96.60% 97.56% 58.67% 34.12% 41.14% 21.65% -31.59% -31.25% -49.62% -58.28%
Debt to EBITDA		 1.46 0.29 0.14 2.94 5.54 2.22 4.11 -4.06 6.31 4.56 9.25
Net Debt to EBITDA		 -30.88 -6.36 -4.82 -3.55 -0.86 -1.35 2.18 -1.92 2.89 2.27 3.78
Long-Term Debt to EBITDA		 0.84 0.12 0.06 2.89 5.54 2.22 4.11 -4.06 6.31 4.56 7.23
Debt to NOPAT		 -9.99 0.99 0.33 2.68 7.44 2.62 4.67 -4.95 7.77 8.15 16.95
Net Debt to NOPAT		 212.07 -21.94 -10.96 -3.25 -1.15 -1.60 2.47 -2.34 3.56 4.05 6.93
Long-Term Debt to NOPAT		 -5.74 0.43 0.14 2.65 7.44 2.62 4.67 -4.95 7.77 8.15 13.26
Altman Z-Score		 3.22 4.41 8.55 8.30 3.86 10.02 6.47 2.83 2.84 2.12 1.18
Noncontrolling Interest Sharing Ratio		 16.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.48 4.42 4.29 6.07 4.89 4.17 2.18 2.40 2.21 2.00 1.44
Quick Ratio		 4.15 4.03 4.09 5.87 4.68 4.04 2.00 2.27 2.03 1.86 1.34
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 11 -17 39 112 -121 594 -1,251 842 322 406 433
Operating Cash Flow to CapEx		 159.13% 100.45% 525.24% 967.72% 1,354.37% 9,549.31% 2,312.93% 2,223.63% 1,768.38% 1,729.89% 1,268.50%
Free Cash Flow to Firm to Interest Expense		 7.36 -2.36 3.48 5.07 -4.96 10.08 -126.52 59.42 22.97 29.39 23.37
Operating Cash Flow to Interest Expense		 21.73 6.66 6.21 8.97 8.51 11.53 65.91 48.25 50.24 54.50 37.46
Operating Cash Flow Less CapEx to Interest Expense		 8.07 0.03 5.03 8.04 7.88 11.41 63.06 46.08 47.40 51.35 34.51
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.68 0.64 0.74 0.80 0.67 0.87 0.75 0.79 1.03 1.10 1.10
Accounts Receivable Turnover		 8.35 7.62 6.56 10.81 16.62 14.71 11.17 10.08 9.96 11.50 14.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 3.03 3.15 3.62 5.08 6.18 13.41 12.02 9.78 11.00 11.55 12.38
Accounts Payable Turnover		 8.58 9.73 12.28 9.50 10.25 13.83 19.00 26.23 28.25 27.71 29.85
Days Sales Outstanding (DSO)		 43.72 47.89 55.66 33.75 21.96 24.81 32.67 36.22 36.65 31.74 26.07
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 42.55 37.53 29.73 38.43 35.60 26.39 19.21 13.91 12.92 13.17 12.23
Cash Conversion Cycle (CCC)		 1.16 10.37 25.93 -4.67 -13.64 -1.58 13.46 22.31 23.73 18.57 13.85
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 45 75 66 59 285 96 1,834 532 503 378 121
Invested Capital Turnover		 5.29 6.07 6.26 9.63 4.75 9.04 2.41 2.17 5.31 6.38 11.55
Increase / (Decrease) in Invested Capital		 -13 29 -8.54 -7.18 226 -189 1,738 -1,303 -29 -125 -257
Enterprise Value (EV)		 646 1,091 2,158 5,388 5,128 21,787 28,963 16,134 10,752 7,087 6,692
Market Capitalization		 926 1,361 2,489 5,730 5,249 22,433 27,757 15,055 9,705 5,950 5,472
Book Value per Share		 $2.95 $2.98 $3.26 $3.33 $3.43 $5.89 $4.96 ($4.35) ($4.54) ($6.75) ($11.12)
Tangible Book Value per Share		 $2.68 $2.61 $2.91 $2.73 $0.58 $3.28 ($10.65) ($9.71) ($9.51) ($11.64) ($14.52)
Total Capital		 344 357 407 683 1,192 1,805 2,904 1,732 1,740 1,529 1,884
Total Debt		 13 12 9.91 282 785 1,062 2,275 2,280 2,284 2,288 2,982
Total Long-Term Debt		 7.57 5.30 4.12 279 785 1,062 2,275 2,280 2,284 2,288 2,333
Net Debt		 -280 -270 -331 -342 -121 -646 1,206 1,079 1,047 1,137 1,219
Capital Expenditures (CapEx)		 21 48 13 21 15 7.11 28 31 40 43 55
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -8.32 12 2.04 -52 -85 -229 -259 -290 -291 -377 -382
Debt-free Net Working Capital (DFNWC)		 285 294 343 572 733 1,440 726 882 860 663 1,246
Net Working Capital (NWC)		 279 287 337 568 733 1,440 726 882 860 663 597
Net Nonoperating Expense (NNE)		 53 42 -52 28 9.65 56 -6.20 233 -14 -23 13
Net Nonoperating Obligations (NNO)		 -285 -270 -331 -342 -121 -646 1,206 1,079 1,047 1,137 1,219
Total Depreciation and Amortization (D&A)		 36 40 28 28 50 61 74 97 91 108 102
Debt-free, Cash-free Net Working Capital to Revenue		 -3.04% 3.22% 0.46% -8.64% -10.35% -13.28% -11.11% -11.29% -10.58% -13.42% -13.25%
Debt-free Net Working Capital to Revenue		 104.04% 80.52% 77.64% 94.77% 89.51% 83.45% 31.17% 34.37% 31.28% 23.59% 43.22%
Net Working Capital to Revenue		 101.99% 78.64% 76.33% 94.13% 89.51% 83.45% 31.17% 34.37% 31.28% 23.59% 20.72%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.59) ($0.26) $0.69 $0.64 $0.80 $2.88 $3.88 ($5.48) $2.51 $2.64 $1.59
Adjusted Weighted Average Basic Shares Outstanding		 112.70M 116.13M 118.54M 120.15M 119.67M 121.25M 127.22M 126.78M 122.50M 114.94M 102.36M
Adjusted Diluted Earnings per Share		 ($0.59) ($0.26) $0.68 $0.61 $0.76 $2.69 $3.40 ($5.48) $2.24 $2.35 $1.39
Adjusted Weighted Average Diluted Shares Outstanding		 112.70M 116.13M 122.27M 127.08M 125.72M 136.41M 146.68M 126.78M 140.15M 131.72M 124.11M
Adjusted Basic & Diluted Earnings per Share		 ($0.59) ($0.26) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 91.12M 113.56M 121.50M 119.57M 117.95M 126.05M 127.03M 124.65M 118.49M 107.07M 96.25M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.32 13 11 52 62 405 326 271 244 281 243
Normalized NOPAT Margin		 -0.48% 3.48% 2.39% 8.67% 7.59% 23.47% 14.00% 10.54% 8.86% 10.00% 8.43%
Pre Tax Income Margin		 -10.24% -0.79% 7.31% 9.12% 9.85% 21.19% 20.25% -25.80% 10.65% 14.63% 8.55%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -17.56 0.36 3.68 3.08 3.77 7.09 48.50 -46.50 19.29 28.51 11.92
NOPAT to Interest Expense		 -0.86 1.71 2.71 4.74 4.34 6.88 49.30 -32.54 20.93 20.33 9.50
EBIT Less CapEx to Interest Expense		 -31.21 -6.26 2.50 2.15 3.15 6.97 45.65 -48.67 16.45 25.36 8.97
NOPAT Less CapEx to Interest Expense		 -14.52 -4.92 1.53 3.82 3.71 6.76 46.45 -34.71 18.09 17.18 6.55
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -7.50% 0.00% 12.59% 173.76% 184.56% 76.92% 61.35% -61.32% 187.59% 238.69% 476.68%

Quarterly Metrics And Ratios for Etsy

This table displays calculated financial ratios and metrics derived from Etsy's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 96,247,180.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 96,247,180.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.72
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 7.04% 4.35% 0.79% 3.01% 4.10% 1.17% 0.81% 3.84% 2.36% 3.46% 3.12%
EBITDA Growth		 111.90% -14.58% -6.35% 372.71% 3.46% 31.08% -94.77% -30.19% 10.24% -15.01% 5,456.30%
EBIT Growth		 109.28% -17.14% -12.93% 3,058.22% -1.96% 34.36% -132.79% -38.84% 19.27% -16.59% 986.13%
NOPAT Growth		 112.00% -26.22% -24.91% 273.61% -15.90% 28.32% -129.02% -8.49% 0.51% -7.28% 3,679.34%
Net Income Growth		 109.12% -23.99% -15.47% -14.39% -34.70% 56.01% -182.69% -45.59% 31.62% -14.76% 233.75%
EPS Growth		 108.40% -39.81% -9.43% -8.89% -29.69% 62.90% -202.08% -39.02% 40.00% -0.99% 222.45%
Operating Cash Flow Growth		 5.78% 1.15% 24.09% 10.85% -0.50% 6.73% -28.75% -28.42% 0.71% 0.69% 64.17%
Free Cash Flow Firm Growth		 -88.55% -91.80% -90.66% -85.93% 125.38% 104.09% 40.71% 82.46% 101.20% 51.87% 195.68%
Invested Capital Growth		 1.28% -5.37% -11.02% -16.38% -15.83% -24.85% -33.39% -43.43% -51.13% -67.90% -120.68%
Revenue Q/Q Growth		 1.18% 32.38% -23.31% 0.29% 2.25% 28.65% -23.59% 3.30% 0.80% 30.03% -28.40%
EBITDA Q/Q Growth		 438.19% 25.07% -31.45% 2.44% 17.79% 58.47% -97.27% 1,336.35% 51.15% 43.19% -6.30%
EBIT Q/Q Growth		 3,833.39% 30.38% -41.03% 3.05% 23.73% 78.69% -114.39% 305.53% 81.94% 54.99% -0.11%
NOPAT Q/Q Growth		 395.76% 9.76% -38.84% -12.56% 43.28% 67.48% -113.83% 375.75% 57.36% 54.50% -7.39%
Net Income Q/Q Growth		 41.89% -5.22% -24.33% -15.87% 8.23% 126.45% -140.10% 155.36% 161.80% 46.66% -37.08%
EPS Q/Q Growth		 42.22% -3.13% -22.58% -14.58% 9.76% 124.44% -148.51% 151.02% 152.00% 58.73% -40.00%
Operating Cash Flow Q/Q Growth		 60.35% 35.06% -76.61% 118.82% 43.93% 44.86% -84.38% 119.87% 102.49% 44.83% -74.54%
Free Cash Flow Firm Q/Q Growth		 -93.47% 60.75% 7.07% 25.19% 4.60% 45.56% -26.18% 62.34% 15.34% 9.88% 54.28%
Invested Capital Q/Q Growth		 -9.00% -17.10% 13.92% -2.70% -8.40% -25.99% 0.97% -17.36% -20.88% -51.39% -165.07%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 70.32% 69.64% 71.03% 71.58% 71.98% 74.45% 70.51% 71.23% 71.29% 73.06% 72.17%
EBITDA Margin		 17.40% 16.44% 14.70% 15.01% 17.29% 21.30% 0.76% 10.60% 15.89% 17.50% 22.90%
Operating Margin		 13.92% 13.71% 10.54% 10.83% 13.11% 18.20% -3.43% 11.36% 12.20% 14.68% 18.98%
EBIT Margin		 13.92% 13.71% 10.54% 10.83% 13.11% 18.20% -3.43% 6.82% 12.31% 14.68% 20.48%
Profit (Net Income) Margin		 13.81% 9.89% 9.75% 8.18% 8.66% 15.24% -8.00% 4.29% 11.14% 12.56% 11.04%
Tax Burden Percent		 90.60% 76.27% 79.10% 67.11% 77.72% 72.84% 156.36% 56.39% 81.99% 80.97% 53.91%
Interest Burden Percent		 109.50% 94.55% 116.98% 112.55% 85.02% 114.96% 149.23% 111.46% 110.30% 105.68% 100.00%
Effective Tax Rate		 9.40% 23.73% 20.90% 32.89% 22.28% 27.16% 0.00% 43.61% 18.01% 19.03% 19.03%
Return on Invested Capital (ROIC)		 56.75% 55.55% 37.73% 32.92% 51.02% 84.55% -14.15% 41.66% 75.10% 137.27% 294.77%
ROIC Less NNEP Spread (ROIC-NNEP)		 57.37% 55.10% 38.51% 33.43% 50.17% 86.09% -17.13% 40.58% 75.71% 137.77% 292.44%
Return on Net Nonoperating Assets (RNNOA)		 -113.67% -107.35% -80.21% -70.67% -95.13% -144.32% 28.07% -60.71% -108.85% -174.82% -335.68%
Return on Equity (ROE)		 -56.92% -51.80% -42.48% -37.75% -44.10% -59.78% 13.92% -19.05% -33.76% -37.55% -40.92%
Cash Return on Invested Capital (CROIC)		 52.71% 62.35% 56.73% 61.85% 62.98% 92.10% 78.44% 96.68% 117.23% 173.27% 0.00%
Operating Return on Assets (OROA)		 15.41% 14.16% 11.61% 11.97% 15.00% 20.04% -4.18% 7.74% 13.80% 16.14% 24.75%
Return on Assets (ROA)		 15.29% 10.21% 10.75% 9.04% 9.91% 16.78% -9.75% 4.86% 12.48% 13.81% 13.34%
Return on Common Equity (ROCE)		 -56.92% -51.80% -42.48% -37.75% -44.10% -59.78% 13.92% -19.05% -33.76% -37.55% -40.92%
Return on Equity Simple (ROE_SIMPLE)		 -53.63% 0.00% -50.71% -45.22% -41.11% 0.00% -20.67% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 80 88 54 47 67 113 -16 43 68 105 97
NOPAT Margin		 12.61% 10.45% 8.34% 7.27% 10.19% 13.26% -2.40% 6.41% 10.00% 11.88% 15.37%
Net Nonoperating Expense Percent (NNEP)		 -0.63% 0.45% -0.78% -0.51% 0.86% -1.55% 2.98% 1.08% -0.62% -0.51% 2.33%
Return On Investment Capital (ROIC_SIMPLE)		 - 5.06% - - - 7.39% -1.13% 2.32% 3.63% 5.56% 5.25%
Cost of Revenue to Revenue		 29.68% 30.36% 28.97% 28.42% 28.02% 25.55% 29.49% 28.77% 28.71% 26.94% 27.83%
SG&A Expenses to Revenue		 13.21% 10.99% 13.79% 14.82% 13.01% 9.71% 12.32% 11.70% 11.72% 10.70% 9.89%
R&D to Revenue		 17.91% 13.95% 17.01% 17.67% 16.19% 13.08% 16.97% 16.63% 16.72% 12.98% 15.69%
Operating Expenses to Revenue		 56.41% 55.93% 60.49% 60.75% 58.87% 56.25% 73.93% 59.86% 59.09% 58.38% 53.19%
Earnings before Interest and Taxes (EBIT)		 89 115 68 70 87 155 -22 46 83 129 129
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 111 138 95 97 115 182 4.96 71 108 154 145
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.93 3.53 2.99 2.49 2.28 2.12 1.80 1.84 2.31 1.90 1.66
Price to Earnings (P/E)		 23.80 31.56 27.80 24.02 24.83 19.62 26.84 31.89 36.12 33.58 16.89
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 4.20% 3.17% 3.60% 4.16% 4.03% 5.10% 3.73% 3.14% 2.77% 2.98% 5.92%
Enterprise Value to Invested Capital (EV/IC)		 15.12 21.38 16.38 14.51 14.70 18.75 16.62 21.15 31.82 55.16 0.00
Enterprise Value to Revenue (EV/Rev)		 3.38 3.91 3.41 2.92 2.68 2.52 2.25 2.35 2.78 2.32 2.14
Enterprise Value to EBITDA (EV/EBITDA)		 23.24 29.69 25.73 18.33 16.86 14.13 15.93 16.56 20.09 20.75 13.37
Enterprise Value to EBIT (EV/EBIT)		 30.20 39.70 34.80 23.63 22.05 18.00 21.89 22.53 27.20 30.32 17.04
Enterprise Value to NOPAT (EV/NOPAT)		 28.18 36.58 34.23 30.02 29.34 25.25 34.64 37.09 43.05 38.04 20.55
Enterprise Value to Operating Cash Flow (EV/OCF)		 13.06 15.24 13.06 11.03 10.25 9.42 8.66 9.67 11.49 9.65 8.57
Enterprise Value to Free Cash Flow (EV/FCFF)		 28.87 33.34 27.19 21.36 21.34 17.47 16.94 15.81 17.82 15.47 8.14
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -3.67 -4.20 -3.91 -3.60 -3.66 -3.02 -2.51 -2.65 -2.68 -2.72 -2.62
Long-Term Debt to Equity		 -3.67 -4.20 -3.91 -3.60 -3.66 -3.02 -2.51 -2.65 -2.68 -2.12 -2.05
Financial Leverage		 -1.98 -1.95 -2.08 -2.11 -1.90 -1.68 -1.64 -1.50 -1.44 -1.27 -1.15
Leverage Ratio		 -3.99 -4.88 -4.45 -4.56 -3.92 -3.92 -3.09 -2.84 -2.93 -2.82 -2.35
Compound Leverage Factor		 -4.37 -4.61 -5.20 -5.14 -3.34 -4.50 -4.61 -3.17 -3.24 -2.99 -2.35
Debt to Total Capital		 137.50% 131.25% 134.32% 138.46% 137.55% 149.62% 166.02% 160.64% 159.56% 158.28% 161.55%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 34.45% 35.15%
Long-Term Debt to Total Capital		 137.50% 131.25% 134.32% 138.46% 137.55% 149.62% 166.02% 160.64% 159.56% 123.84% 126.40%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -37.50% -31.25% -34.32% -38.46% -37.55% -49.62% -66.02% -60.64% -59.56% -58.28% -61.55%
Debt to EBITDA		 5.78 6.31 6.26 5.18 5.14 4.56 5.75 7.39 7.54 9.25 6.42
Net Debt to EBITDA		 3.11 2.89 3.17 2.70 2.55 2.27 3.24 3.57 3.45 3.78 3.01
Long-Term Debt to EBITDA		 5.78 6.31 6.26 5.18 5.14 4.56 5.75 7.39 7.54 7.23 5.03
Debt to NOPAT		 7.01 7.77 8.33 8.48 8.94 8.15 12.50 16.56 16.16 16.95 9.87
Net Debt to NOPAT		 3.78 3.56 4.22 4.43 4.44 4.05 7.06 8.01 7.38 6.93 4.63
Long-Term Debt to NOPAT		 7.01 7.77 8.33 8.48 8.94 8.15 12.50 16.56 16.16 13.26 7.72
Altman Z-Score		 2.40 2.65 2.38 2.07 1.94 1.79 1.29 1.29 1.53 1.07 1.09
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.45 2.21 2.49 2.41 2.39 2.00 2.14 3.39 3.17 1.44 1.69
Quick Ratio		 2.22 2.03 2.30 2.21 2.22 1.86 2.00 3.21 2.98 1.34 1.30
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 73 117 125 156 164 238 176 285 329 361 558
Operating Cash Flow to CapEx		 2,006.30% 2,351.43% 710.73% 1,468.32% 1,668.20% 3,009.93% 353.58% 612.12% 1,580.78% 3,433.56% 818.72%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 75.59 57.87 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 28.66 38.52 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 23.98 36.08 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.11 1.03 1.10 1.11 1.14 1.10 1.22 1.13 1.12 1.10 1.21
Accounts Receivable Turnover		 11.83 9.96 11.36 11.23 13.25 11.50 13.18 14.30 16.00 14.00 15.88
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 10.95 11.00 11.23 11.51 11.45 11.55 11.73 12.10 12.02 12.38 13.19
Accounts Payable Turnover		 51.54 28.25 54.63 58.13 48.17 27.71 56.63 55.88 55.41 29.85 50.28
Days Sales Outstanding (DSO)		 30.85 36.65 32.13 32.49 27.56 31.74 27.70 25.52 22.82 26.07 22.99
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 7.08 12.92 6.68 6.28 7.58 13.17 6.45 6.53 6.59 12.23 7.26
Cash Conversion Cycle (CCC)		 23.77 23.73 25.45 26.21 19.98 18.57 21.26 18.99 16.23 13.85 15.73
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 607 503 573 558 511 378 382 315 250 121 -79
Invested Capital Turnover		 4.50 5.31 4.53 4.53 5.01 6.38 5.89 6.50 7.51 11.55 19.18
Increase / (Decrease) in Invested Capital		 7.69 -29 -71 -109 -96 -125 -191 -242 -261 -257 -461
Enterprise Value (EV)		 9,173 10,752 9,386 8,089 7,507 7,087 6,344 6,671 7,942 6,692 6,210
Market Capitalization		 7,944 9,705 8,229 6,897 6,372 5,950 5,052 5,231 6,580 5,472 4,810
Book Value per Share		 ($5.06) ($4.54) ($4.93) ($5.43) ($5.44) ($6.75) ($8.50) ($10.78) ($11.23) ($11.12) ($11.81)
Tangible Book Value per Share		 ($9.86) ($9.51) ($9.85) ($10.33) ($10.52) ($11.64) ($12.71) ($14.19) ($14.68) ($14.52) ($12.34)
Total Capital		 1,660 1,740 1,701 1,651 1,663 1,529 1,379 1,854 1,868 1,884 1,847
Total Debt		 2,283 2,284 2,285 2,286 2,287 2,288 2,289 2,979 2,981 2,982 2,984
Total Long-Term Debt		 2,283 2,284 2,285 2,286 2,287 2,288 2,289 2,979 2,981 2,333 2,335
Net Debt		 1,229 1,047 1,157 1,193 1,135 1,137 1,292 1,440 1,362 1,219 1,400
Capital Expenditures (CapEx)		 11 13 9.71 10 13 10 14 18 14 9.24 9.86
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -182 -291 -204 -205 -277 -377 -277 -251 -282 -382 78
Debt-free Net Working Capital (DFNWC)		 795 860 839 795 768 663 591 1,162 1,229 1,246 1,512
Net Working Capital (NWC)		 795 860 839 795 768 663 591 1,162 1,229 597 862
Net Nonoperating Expense (NNE)		 -7.62 4.80 -9.15 -5.91 10 -17 36 14 -7.69 -5.96 27
Net Nonoperating Obligations (NNO)		 1,229 1,047 1,157 1,193 1,135 1,137 1,292 1,440 1,362 1,219 1,058
Total Depreciation and Amortization (D&A)		 22 23 27 27 28 26 27 25 24 25 15
Debt-free, Cash-free Net Working Capital to Revenue		 -6.70% -10.58% -7.42% -7.41% -9.91% -13.42% -9.84% -8.83% -9.87% -13.25% 2.69%
Debt-free Net Working Capital to Revenue		 29.30% 31.28% 30.48% 28.66% 27.43% 23.59% 21.00% 40.93% 43.05% 43.22% 52.08%
Net Working Capital to Revenue		 29.30% 31.28% 30.48% 28.66% 27.43% 23.59% 21.00% 40.93% 43.05% 20.72% 29.71%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.72 $0.69 $0.53 $0.46 $0.50 $1.15 ($0.49) $0.28 $0.76 $1.04 $0.72
Adjusted Weighted Average Basic Shares Outstanding		 121.81M 122.50M 118.44M 116.43M 114.18M 114.94M 107.08M 103.21M 99.33M 102.36M 96.24M
Adjusted Diluted Earnings per Share		 $0.64 $0.62 $0.48 $0.41 $0.45 $1.01 ($0.49) $0.25 $0.63 $1.00 $0.60
Adjusted Weighted Average Diluted Shares Outstanding		 138.89M 140.15M 135.34M 133.12M 130.75M 131.72M 107.08M 121.51M 124.96M 124.11M 121.03M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 119.75M 118.49M 116.93M 114.75M 112.49M 107.07M 104.28M 99.11M 98.71M 96.25M 94.90M
Normalized Net Operating Profit after Tax (NOPAT)		 80 88 54 47 67 113 56 43 68 105 97
Normalized NOPAT Margin		 12.61% 10.45% 8.34% 7.27% 10.19% 13.26% 8.53% 6.41% 10.00% 11.88% 15.37%
Pre Tax Income Margin		 15.24% 12.96% 12.33% 12.19% 11.14% 20.93% -5.12% 7.60% 13.58% 15.51% 20.48%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12.16 14.69 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11.42 11.93 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.48 12.25 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.74 9.49 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 190.03% 187.59% 198.33% 243.33% 217.15% 238.69% 401.07% 572.52% 495.88% 476.68% 257.39%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Etsy (ETSY) quarterly results across the last four years of data provided. The points highlight trends in revenue, profitability, cash flow, and balance sheet liquidity that retail investors may find useful.

  • Revenue momentum: Q4 2025 operating revenue reached about $881.6 million, up from Q4 2024’s $852.2 million (roughly +3.5%).
  • Gross margin stability: Q4 2025 gross profit was about $644.1 million on $881.6 million in revenue, implying a gross margin near 73%.
  • Robust quarterly cash flow: Q4 2025 shows strong operating cash flow, with net cash from continuing operating activities around $317.1 million, reflecting solid cash generation in the period.
  • Liquidity expansion: Cash & equivalents rose to about $1.25 billion by Q3 2025, while total assets grew to roughly $2.65 billion, signaling improved liquidity and asset base.
  • Leverage trend: Long-term debt stood around $2.98 billion by Q3 2025, indicating higher leverage but offset by strong cash flow generation in the near term.
  • Earnings pressure vs. prior year: Q4 2025 net income attributable to common shareholders was about $110.7 million, down from Q4 2024’s $129.9 million (EPS declined from about $1.15 to $1.04 per share).
  • Share buybacks impacting near-term liquidity: In 2025, Etsy deployed substantial cash for equity repurchases—Q4 around $133.2 million, Q3 around $119.8 million, Q2 around $334.7 million, and Q1 around $189.2 million—which weighs on cash despite stronger operating cash flow.
05/16/26 02:43 AM ETAI Generated. May Contain Errors.

Etsy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Etsy's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Etsy's net income appears to be on an upward trend, with a most recent value of $162.98 million in 2025, falling from -$54.06 million in 2015. The previous period was $303.28 million in 2024. See Etsy's forecast for analyst expectations on what's next for the company.

Etsy's total operating income in 2025 was $266.21 million, based on the following breakdown:
  • Total Gross Profit: $2.07 billion
  • Total Operating Expenses: $1.80 billion

Over the last 10 years, Etsy's total revenue changed from $273.50 million in 2015 to $2.88 billion in 2025, a change of 954.3%.

Etsy's total liabilities were at $3.93 billion at the end of 2025, a 23.6% increase from 2024, and a 1,663.7% increase since 2015.

In the past 10 years, Etsy's cash and equivalents has ranged from $181.59 million in 2016 to $1.36 billion in 2025, and is currently $1.36 billion as of their latest financial filing in 2025.

Over the last 10 years, Etsy's book value per share changed from 2.95 in 2015 to -11.12 in 2025, a change of -477.3%.


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Financial statements for NYSE:ETSY last updated on 5/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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