Etsy, Inc. (ETSY) Stock Analysis
Consumer Cyclical · Internet Retail · NYSE
Etsy, Inc. (ETSY) posted $2.88B in revenue for fiscal 2025 (up 2.7% year over year), at a 5.7% net margin, and has compounded revenue about 10.8%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Etsy, Inc.
Etsy, Inc. has grown revenue from $364.97M to $2.88B over the last 10 fiscal years, compounding about 10.8% a year. The most recent year was up 2.7%, so growth has cooled from its longer-run pace.
Net margin sits at 5.7%, down 5.1 points year over year on a 71.6% gross margin. It carries about $2.98B of total debt.
At today's valuation the market is pricing in roughly -2.4% annual free-cash-flow growth — versus the 0% it actually delivered over the last five years, broadly in line with what it has delivered.
Synthesised from Etsy, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Etsy, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $364.97M | $441.23M | $603.69M | $818.38M | $1.73B | $2.33B | $2.57B | $2.75B | $2.81B | $2.88B |
| Gross profit | $241.64M | $290.25M | $412.93M | $547.34M | $1.26B | $1.67B | $1.82B | $1.92B | $2.03B | $2.07B |
| Net income | $-29.90M | $81.80M | $77.49M | $95.89M | $349.25M | $493.51M | $-694.29M | $307.57M | $303.28M | $162.98M |
| Net margin | -8.2% | 18.5% | 12.8% | 11.7% | 20.2% | 21.2% | -27.1% | 11.2% | 10.8% | 5.7% |
Source: Etsy, Inc. SEC filings (10-K). 13 years of history available in the interactive view.
Etsy, Inc.: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into ETSY stock?
At today's market cap of $6.53B, Etsy, Inc. is priced for free-cash-flow growth of about -2.4% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $678.03M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 0%/yr over the last five fiscal years and revenue 10.8%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 13 years of Etsy, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
Open the interactive view — freeOr start a 7-day free trial to track ETSY in your portfolio →
Etsy, Inc. financial history by metric
Compare Etsy, Inc. with peers
About Etsy, Inc.
Etsy, Inc., together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, and internationally. It operates through Etsy and Depop segments. The company operates Etsy marketplace that connects artisans with various consumers; and Depop, a fashion resale marketplace. It also provides marketplace activities, including transaction offsite advertising, payments processing, and listing fees, as well as from optional seller services, which include on-site advertising and shipping labels. The company was formerly known as Indieco, Inc changed its name to Etsy, Inc. in June 2006. Etsy, Inc. was founded in 2005 and is headquartered in Brooklyn, New York.
Etsy, Inc. — frequently asked questions
What is Etsy, Inc.'s revenue?
Etsy, Inc. (ETSY) reported revenue of $2.88B for fiscal year 2025, up 2.7% from the prior year, according to its SEC filings.
Is Etsy, Inc. profitable?
Yes. ETSY earned net income of $162.98M in fiscal 2025, a net margin of 5.7%.
What is ETSY's P/E ratio?
Etsy, Inc. trades at a price-to-earnings ratio of about 26.4 based on the latest data in our nightly-refreshed cache.
How fast is Etsy, Inc. growing?
ETSY's revenue grew at roughly 10.8% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Etsy, Inc. have?
As of fiscal year 2025, ETSY carried roughly $2.98B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Etsy, Inc.'s gross margin?
ETSY's gross margin was 71.6% in fiscal 2025 — gross profit of $2.07B on revenue of $2.88B.
What is Etsy, Inc.'s market cap?
Etsy, Inc. (ETSY) has a market capitalization of about $6.53B, based on the latest data in our nightly-refreshed cache.
When does Etsy, Inc.'s fiscal year end?
ETSY's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into ETSY stock?
At today's market cap of $6.53B, Etsy, Inc. is priced for free-cash-flow growth of about -2.4% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $678.03M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 0%/yr over the last five fiscal years and revenue 10.8%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Etsy, Inc.'s official SEC filings (10-K and 10-Q), covering 13 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.