ETSY INC (ETSY) Fundamental Analysis & Valuation

NYSE:ETSY • US29786A1060

Current stock price

52.49 USD
-0.35 (-0.66%)
At close:
52.49 USD
0 (0%)
After Hours:

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

6

1. ETSY Profitability Analysis

1.1 Basic Checks

  • ETSY had positive earnings in the past year.
  • In the past year ETSY had a positive cash flow from operations.
  • Of the past 5 years ETSY 4 years were profitable.
  • Each year in the past 5 years ETSY had a positive operating cash flow.
ETSY Yearly Net Income VS EBIT VS OCF VS FCFETSY 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

  • ETSY has a Return On Assets of 5.76%. This is in the better half of the industry: ETSY outperforms 76.67% of its industry peers.
  • ETSY has a Return On Invested Capital of 12.18%. This is amongst the best in the industry. ETSY outperforms 83.33% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for ETSY is above the industry average of 8.76%.
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%
ETSY Yearly ROA, ROE, ROICETSY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 -50 100

1.3 Margins

  • Looking at the Profit Margin, with a value of 5.65%, ETSY is in line with its industry, outperforming 60.00% of the companies in the same industry.
  • ETSY's Profit Margin has declined in the last couple of years.
  • ETSY has a Operating Margin of 12.76%. This is amongst the best in the industry. ETSY outperforms 90.00% of its industry peers.
  • In the last couple of years the Operating Margin of ETSY has declined.
  • ETSY has a Gross Margin of 71.64%. This is amongst the best in the industry. ETSY outperforms 90.00% of its industry peers.
  • In the last couple of years the Gross Margin of ETSY has remained more or less at the same level.
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%
ETSY Yearly Profit, Operating, Gross MarginsETSY 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. ETSY Health Analysis

2.1 Basic Checks

  • ETSY has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • The number of shares outstanding for ETSY has been reduced compared to 1 year ago.
  • The number of shares outstanding for ETSY has been reduced compared to 5 years ago.
  • ETSY has a worse debt/assets ratio than last year.
ETSY Yearly Shares OutstandingETSY Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
ETSY Yearly Total Debt VS Total AssetsETSY 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 1.28, we must say that ETSY is in the distress zone and has some risk of bankruptcy.
  • ETSY has a Altman-Z score of 1.28. This is comparable to the rest of the industry: ETSY outperforms 43.33% of its industry peers.
  • ETSY has a debt to FCF ratio of 4.82. This is a neutral value as ETSY would need 4.82 years to pay back of all of its debts.
  • With a Debt to FCF ratio value of 4.82, ETSY perfoms like the industry average, outperforming 56.67% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 4.82
Altman-Z 1.28
ROIC/WACC1.67
WACC7.28%
ETSY Yearly LT Debt VS Equity VS FCFETSY 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

  • ETSY has a Current Ratio of 1.44. This is a normal value and indicates that ETSY is financially healthy and should not expect problems in meeting its short term obligations.
  • ETSY has a Current ratio of 1.44. This is comparable to the rest of the industry: ETSY outperforms 50.00% of its industry peers.
  • ETSY has a Quick Ratio of 1.44. This is a normal value and indicates that ETSY is financially healthy and should not expect problems in meeting its short term obligations.
  • With a Quick ratio value of 1.44, ETSY perfoms like the industry average, outperforming 60.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.44
Quick Ratio 1.44
ETSY Yearly Current Assets VS Current LiabilitesETSY 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. ETSY Growth Analysis

3.1 Past

  • The earnings per share for ETSY have decreased by -3.38% in the last year.
  • Measured over the past years, ETSY shows a decrease in Earnings Per Share. The EPS has been decreasing by -3.17% on average per year.
  • ETSY shows a small growth in Revenue. In the last year, the Revenue has grown by 2.68%.
  • Measured over the past years, ETSY shows a quite strong growth in Revenue. The Revenue has been growing by 10.81% on average per year.
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

  • Based on estimates for the next years, ETSY will show a very strong growth in Earnings Per Share. The EPS will grow by 33.98% on average per year.
  • The Revenue is expected to grow by 2.43% on average over the next years.
EPS Next Y39.37%
EPS Next 2Y25.48%
EPS Next 3Y21.86%
EPS Next 5Y33.98%
Revenue Next Year-5.2%
Revenue Next 2Y-0.99%
Revenue Next 3Y0.54%
Revenue Next 5Y2.43%

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.
ETSY Yearly Revenue VS EstimatesETSY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 1B 2B 3B 4B 5B
ETSY Yearly EPS VS EstimatesETSY 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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6

4. ETSY Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 22.92, ETSY is valued on the expensive side.
  • 63.33% of the companies in the same industry are more expensive than ETSY, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 25.54. ETSY is around the same levels.
  • A Price/Forward Earnings ratio of 16.45 indicates a correct valuation of ETSY.
  • The rest of the industry has a similar Price/Forward Earnings ratio as ETSY.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.70, ETSY is valued a bit cheaper.
Industry RankSector Rank
PE 22.92
Fwd PE 16.45
ETSY Price Earnings VS Forward Price EarningsETSY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, ETSY is valued a bit cheaper than 70.00% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, ETSY is valued a bit cheaper than 80.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 7.91
EV/EBITDA 12
ETSY Per share dataETSY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20

4.3 Compensation for Growth

  • ETSY's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of ETSY may justify a higher PE ratio.
  • ETSY's earnings are expected to grow with 21.86% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.58
PEG (5Y)N/A
EPS Next 2Y25.48%
EPS Next 3Y21.86%

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

0

5. ETSY Dividend Analysis

5.1 Amount

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

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ETSY Fundamentals: All Metrics, Ratios and Statistics

ETSY INC

NYSE:ETSY (3/23/2026, 8:04:00 PM)

After market: 52.49 0 (0%)

52.49

-0.35 (-0.66%)

Chartmill FA Rating
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustryBroadline Retail
Earnings (Last)02-19
Earnings (Next)04-28
Inst Owners120.78%
Inst Owner Change-9.52%
Ins Owners1.11%
Ins Owner Change0.23%
Market Cap5.05B
Revenue(TTM)2.88B
Net Income(TTM)162.98M
Analysts69.23
Price Target63.26 (20.52%)
Short Float %14.58%
Short Ratio3.59
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)-7.21%
PT rev (3m)-10.23%
EPS NQ rev (1m)37.89%
EPS NQ rev (3m)37.84%
EPS NY rev (1m)23.09%
EPS NY rev (3m)22.31%
Revenue NQ rev (1m)-6.55%
Revenue NQ rev (3m)-6.71%
Revenue NY rev (1m)-7.83%
Revenue NY rev (3m)-7.92%
Valuation
Industry RankSector Rank
PE 22.92
Fwd PE 16.45
P/S 1.75
P/FCF 7.91
P/OCF 7.29
P/B N/A
P/tB N/A
EV/EBITDA 12
EPS(TTM)2.29
EY4.36%
EPS(NY)3.19
Fwd EY6.08%
FCF(TTM)6.64
FCFY12.64%
OCF(TTM)7.2
OCFY13.73%
SpS29.96
BVpS-11.41
TBVpS-14.89
PEG (NY)0.58
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 1.28
F-Score5
WACC7.28%
ROIC/WACC1.67
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 Y39.37%
EPS Next 2Y25.48%
EPS Next 3Y21.86%
EPS Next 5Y33.98%
Revenue 1Y (TTM)2.68%
Revenue growth 3Y3.96%
Revenue growth 5Y10.81%
Sales Q2Q%3.46%
Revenue Next Year-5.2%
Revenue Next 2Y-0.99%
Revenue Next 3Y0.54%
Revenue Next 5Y2.43%
EBIT growth 1Y-3.23%
EBIT growth 3Y-1.63%
EBIT growth 5Y-2.8%
EBIT Next Year182.9%
EBIT Next 3Y45.79%
EBIT Next 5Y28.81%
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 / ETSY Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for ETSY INC?

ChartMill assigns a fundamental rating of 5 / 10 to ETSY.


Can you provide the valuation status for ETSY INC?

ChartMill assigns a valuation rating of 6 / 10 to ETSY INC (ETSY). This can be considered as Fairly Valued.


How profitable is ETSY INC (ETSY) stock?

ETSY INC (ETSY) has a profitability rating of 6 / 10.


Can you provide the financial health for ETSY stock?

The financial health rating of ETSY INC (ETSY) is 4 / 10.


Can you provide the expected EPS growth for ETSY stock?

The Earnings per Share (EPS) of ETSY INC (ETSY) is expected to grow by 39.37% in the next year.