ETSY INC (3E2.DE) Fundamental Analysis & Valuation

FRA:3E2 • US29786A1060

47.69 EUR
+2.51 (+5.56%)
Last: Mar 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This 3E2.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Taking everything into account, 3E2 scores 4 out of 10 in our fundamental rating. 3E2 was compared to 12 industry peers in the Broadline Retail industry. 3E2 has only an average score on both its financial health and profitability. 3E2 has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

5

1. 3E2.DE Profitability Analysis

1.1 Basic Checks

  • In the past year 3E2 was profitable.
  • 3E2 had a positive operating cash flow in the past year.
  • Of the past 5 years 3E2 4 years were profitable.
  • 3E2 had a positive operating cash flow in each of the past 5 years.
3E2.DE Yearly Net Income VS EBIT VS OCF VS FCF3E2.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 5.76%, 3E2 is doing worse than 66.67% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 12.18%, 3E2 is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for 3E2 is above the industry average of 8.94%.
Industry RankSector Rank
ROA 5.76%
ROE N/A
ROIC 12.18%
ROA(3y)9.92%
ROA(5y)3.26%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)13.54%
ROIC(5y)12.85%
3E2.DE Yearly ROA, ROE, ROIC3E2.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 -50 100

1.3 Margins

  • The Profit Margin of 3E2 (5.65%) is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of 3E2 has declined.
  • 3E2 has a better Operating Margin (12.76%) than 91.67% of its industry peers.
  • 3E2's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 71.64%, 3E2 belongs to the top of the industry, outperforming 91.67% of the companies in the same industry.
  • 3E2's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 12.76%
PM (TTM) 5.65%
GM 71.64%
OM growth 3Y-5.38%
OM growth 5Y-12.28%
PM growth 3YN/A
PM growth 5Y-22.52%
GM growth 3Y0.31%
GM growth 5Y-0.39%
3E2.DE Yearly Profit, Operating, Gross Margins3E2.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 60

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4

2. 3E2.DE Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so 3E2 is creating value.
  • 3E2 has less shares outstanding than it did 1 year ago.
  • 3E2 has less shares outstanding than it did 5 years ago.
  • 3E2 has a worse debt/assets ratio than last year.
3E2.DE Yearly Shares Outstanding3E2.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
3E2.DE Yearly Total Debt VS Total Assets3E2.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

2.2 Solvency

  • Based on the Altman-Z score of 1.30, we must say that 3E2 is in the distress zone and has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 1.30, 3E2 is doing worse than 75.00% of the companies in the same industry.
  • The Debt to FCF ratio of 3E2 is 4.82, which is a neutral value as it means it would take 3E2, 4.82 years of fcf income to pay off all of its debts.
  • 3E2 has a better Debt to FCF ratio (4.82) than 75.00% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 4.82
Altman-Z 1.3
ROIC/WACC1.69
WACC7.19%
3E2.DE Yearly LT Debt VS Equity VS FCF3E2.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B

2.3 Liquidity

  • A Current Ratio of 1.44 indicates that 3E2 should not have too much problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 1.44, 3E2 is in line with its industry, outperforming 58.33% of the companies in the same industry.
  • A Quick Ratio of 1.44 indicates that 3E2 should not have too much problems paying its short term obligations.
  • With a Quick ratio value of 1.44, 3E2 perfoms like the industry average, outperforming 58.33% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.44
Quick Ratio 1.44
3E2.DE Yearly Current Assets VS Current Liabilites3E2.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. 3E2.DE Growth Analysis

3.1 Past

  • 3E2 shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -3.38%.
  • Measured over the past years, 3E2 shows a decrease in Earnings Per Share. The EPS has been decreasing by -3.17% on average per year.
  • The Revenue has been growing slightly by 2.68% in the past year.
  • 3E2 shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.81% yearly.
EPS 1Y (TTM)-3.38%
EPS 3YN/A
EPS 5Y-3.17%
EPS Q2Q%-10.68%
Revenue 1Y (TTM)2.68%
Revenue growth 3Y3.96%
Revenue growth 5Y10.81%
Sales Q2Q%3.46%

3.2 Future

  • The Earnings Per Share is expected to grow by 29.65% on average over the next years. This is a very strong growth
  • 3E2 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.95% yearly.
EPS Next Y13.22%
EPS Next 2Y15.81%
EPS Next 3Y41.42%
EPS Next 5Y29.65%
Revenue Next Year2.89%
Revenue Next 2Y4.37%
Revenue Next 3Y5.17%
Revenue Next 5Y4.95%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
3E2.DE Yearly Revenue VS Estimates3E2.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 1B 2B 3B 4B 5B
3E2.DE Yearly EPS VS Estimates3E2.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 5 -5

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4

4. 3E2.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • 3E2 is valuated rather expensively with a Price/Earnings ratio of 24.21.
  • 3E2's Price/Earnings ratio is in line with the industry average.
  • When comparing the Price/Earnings ratio of 3E2 to the average of the S&P500 Index (26.29), we can say 3E2 is valued inline with the index average.
  • A Price/Forward Earnings ratio of 21.37 indicates a rather expensive valuation of 3E2.
  • The rest of the industry has a similar Price/Forward Earnings ratio as 3E2.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.57, 3E2 is valued at the same level.
Industry RankSector Rank
PE 24.21
Fwd PE 21.37
3E2.DE Price Earnings VS Forward Price Earnings3E2.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of 3E2 indicates a somewhat cheap valuation: 3E2 is cheaper than 66.67% of the companies listed in the same industry.
  • 100.00% of the companies in the same industry are more expensive than 3E2, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 8.56
EV/EBITDA 12.27
3E2.DE Per share data3E2.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • 3E2's earnings are expected to grow with 41.42% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.83
PEG (5Y)N/A
EPS Next 2Y15.81%
EPS Next 3Y41.42%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. 3E2.DE Dividend Analysis

5.1 Amount

  • 3E2 does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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3E2.DE Fundamentals: All Metrics, Ratios and Statistics

ETSY INC

FRA:3E2 (3/6/2026, 7:00:00 PM)

47.69

+2.51 (+5.56%)

Chartmill FA Rating
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustryBroadline Retail
Earnings (Last)02-19
Earnings (Next)04-28
Inst Owners127.45%
Inst Owner ChangeN/A
Ins Owners1.06%
Ins Owner ChangeN/A
Market Cap4.71B
Revenue(TTM)2.88B
Net Income(TTM)162.98M
Analysts68
Price Target57.32 (20.19%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.31%
Min EPS beat(2)7.17%
Max EPS beat(2)17.46%
EPS beat(4)2
Avg EPS beat(4)-6.51%
Min EPS beat(4)-42.84%
Max EPS beat(4)17.46%
EPS beat(8)3
Avg EPS beat(8)-5.99%
EPS beat(12)5
Avg EPS beat(12)-3.62%
EPS beat(16)6
Avg EPS beat(16)-133.74%
Revenue beat(2)1
Avg Revenue beat(2)-0.44%
Min Revenue beat(2)-2.32%
Max Revenue beat(2)1.44%
Revenue beat(4)2
Avg Revenue beat(4)0.09%
Min Revenue beat(4)-2.32%
Max Revenue beat(4)1.89%
Revenue beat(8)3
Avg Revenue beat(8)-0.55%
Revenue beat(12)4
Avg Revenue beat(12)-0.56%
Revenue beat(16)7
Avg Revenue beat(16)0.23%
PT rev (1m)-3.16%
PT rev (3m)-1.91%
EPS NQ rev (1m)42.5%
EPS NQ rev (3m)42.45%
EPS NY rev (1m)-0.28%
EPS NY rev (3m)-7.93%
Revenue NQ rev (1m)-6.18%
Revenue NQ rev (3m)-6.31%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)0.5%
Valuation
Industry RankSector Rank
PE 24.21
Fwd PE 21.37
P/S 1.9
P/FCF 8.56
P/OCF 7.89
P/B N/A
P/tB N/A
EV/EBITDA 12.27
EPS(TTM)1.97
EY4.13%
EPS(NY)2.23
Fwd EY4.68%
FCF(TTM)5.57
FCFY11.68%
OCF(TTM)6.05
OCFY12.68%
SpS25.14
BVpS-9.58
TBVpS-12.5
PEG (NY)1.83
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 5.76%
ROE N/A
ROCE 25.14%
ROIC 12.18%
ROICexc 52.23%
ROICexgc 163.61%
OM 12.76%
PM (TTM) 5.65%
GM 71.64%
FCFM 22.15%
ROA(3y)9.92%
ROA(5y)3.26%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)13.54%
ROIC(5y)12.85%
ROICexc(3y)40.44%
ROICexc(5y)33.69%
ROICexgc(3y)147.39%
ROICexgc(5y)148.29%
ROCE(3y)21.93%
ROCE(5y)19.91%
ROICexgc growth 3Y-1.4%
ROICexgc growth 5YN/A
ROICexc growth 3Y17.12%
ROICexc growth 5Y-13.15%
OM growth 3Y-5.38%
OM growth 5Y-12.28%
PM growth 3YN/A
PM growth 5Y-22.52%
GM growth 3Y0.31%
GM growth 5Y-0.39%
F-Score5
Asset Turnover1.02
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 4.82
Debt/EBITDA 6.55
Cap/Depr 53.67%
Cap/Sales 1.9%
Interest Coverage 30.07
Cash Conversion 147.61%
Profit Quality 391.91%
Current Ratio 1.44
Quick Ratio 1.44
Altman-Z 1.3
F-Score5
WACC7.19%
ROIC/WACC1.69
Cap/Depr(3y)45.87%
Cap/Depr(5y)43.33%
Cap/Sales(3y)1.63%
Cap/Sales(5y)1.53%
Profit Quality(3y)280.7%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-3.38%
EPS 3YN/A
EPS 5Y-3.17%
EPS Q2Q%-10.68%
EPS Next Y13.22%
EPS Next 2Y15.81%
EPS Next 3Y41.42%
EPS Next 5Y29.65%
Revenue 1Y (TTM)2.68%
Revenue growth 3Y3.96%
Revenue growth 5Y10.81%
Sales Q2Q%3.46%
Revenue Next Year2.89%
Revenue Next 2Y4.37%
Revenue Next 3Y5.17%
Revenue Next 5Y4.95%
EBIT growth 1Y-3.23%
EBIT growth 3Y-1.63%
EBIT growth 5Y-2.8%
EBIT Next Year176.88%
EBIT Next 3Y45.71%
EBIT Next 5Y28.93%
FCF growth 1Y-9.9%
FCF growth 3Y-0.4%
FCF growth 5Y-0.98%
OCF growth 1Y-7.85%
OCF growth 3Y0.48%
OCF growth 5Y0.42%

ETSY INC / 3E2.DE FAQ

What is the fundamental rating for 3E2 stock?

ChartMill assigns a fundamental rating of 4 / 10 to 3E2.DE.


What is the valuation status of ETSY INC (3E2.DE) stock?

ChartMill assigns a valuation rating of 4 / 10 to ETSY INC (3E2.DE). This can be considered as Fairly Valued.


What is the profitability of 3E2 stock?

ETSY INC (3E2.DE) has a profitability rating of 5 / 10.


What are the PE and PB ratios of ETSY INC (3E2.DE) stock?

The Price/Earnings (PE) ratio for ETSY INC (3E2.DE) is 24.21 and the Price/Book (PB) ratio is -4.98.