Etsy, Inc. (ETSY) Financial Ratios
14 years of historical data (2012–2025) · Consumer Cyclical · Specialty Retail
EV/EBITDA
↓
13.55
↓-58% vs avg
5yr avg: 31.93
30Y Low13.2·High62.4
P/FCF
↓
10.99
↓-51% vs avg
5yr avg: 22.56
30Y Low9.8·High61.1
P/B Ratio
N/A
—
5yr avg: 51.09
30Y Low2.3·High51.1
ROE
↓
N/A
—
5yr avg: -817.5%
30Y Low-23%·High72%
Debt/EBITDA
↓
1.58
↓-64% vs avg
5yr avg: 4.33
30Y Low0.1·High6.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ETSY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Etsy, Inc. trades at 53.2x earnings, 31% above its 5-year average of 40.7x, sitting at the 50th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 21.2x, the stock trades at a premium of 152%. On a free-cash-flow basis, the stock trades at 11.0x P/FCF, 51% below the 5-year average of 22.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $7.0B | $6.8B | $7.0B | $11.4B | $15.2B | $32.1B | $24.3B | $5.6B | $6.0B | $2.5B | $1.3B |
| Enterprise Value | $6.4B | $6.2B | $8.5B | $12.8B | $16.7B | $33.7B | $24.1B | $6.0B | $6.0B | $2.3B | $1.2B |
| P/E Ratio → | 53.20 | 39.88 | 22.51 | 36.18 | — | 64.39 | 66.14 | 58.29 | 77.98 | 30.07 | — |
| P/S Ratio | 2.43 | 2.38 | 2.48 | 4.13 | 5.92 | 13.79 | 14.06 | 6.81 | 10.01 | 5.67 | 3.67 |
| P/B Ratio | — | — | — | — | — | 51.09 | 32.69 | 13.70 | 15.08 | 6.30 | 3.88 |
| P/FCF | 10.99 | 10.72 | 9.83 | 17.07 | 23.49 | 51.68 | 36.12 | 29.06 | 33.89 | 44.69 | 6251.26 |
| P/OCF | 10.12 | 9.88 | 9.26 | 16.10 | 22.21 | 49.29 | 35.75 | 26.92 | 30.39 | 36.18 | 27.89 |
P/E links to full P/E history page with 30-year chart
ETSY EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Etsy, Inc.'s enterprise value stands at 13.5x EBITDA, 58% below its 5-year average of 31.9x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 11% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.15 | 3.04 | 4.67 | 6.49 | 14.48 | 13.99 | 7.30 | 9.97 | 5.11 | 3.36 |
| EV / EBITDA | 13.55 | 13.19 | 17.50 | 34.58 | — | 62.45 | 50.06 | 43.67 | 59.30 | 57.68 | 30.56 |
| EV / EBIT | 17.30 | 23.36 | 20.12 | 41.82 | — | 70.03 | 59.21 | 56.91 | 77.93 | 51.96 | 283.19 |
| EV / FCF | — | 9.70 | 12.05 | 19.28 | 25.76 | 54.27 | 35.93 | 31.17 | 33.76 | 40.31 | 5727.39 |
ETSY Profitability
Margins and return-on-capital ratios measuring operating efficiency
Etsy, Inc. earns an operating margin of 12.8%, above the Consumer Cyclical sector average of 2.0%. Operating margins have expanded from 10.2% to 12.8% over the past 3 years, signaling improving operational efficiency.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.6% | 71.6% | 72.4% | 69.8% | 71.0% | 71.9% | 73.1% | 66.9% | 68.4% | 65.8% | 66.2% |
| Operating Margin | 12.8% | 12.8% | 13.5% | 10.2% | -25.7% | 20.0% | 24.6% | 10.8% | 12.4% | 2.7% | 4.8% |
| Net Profit Margin | 5.7% | 5.7% | 10.8% | 11.2% | -27.1% | 21.2% | 20.2% | 11.7% | 12.8% | 18.5% | -8.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -1707.0% | 72.0% | 60.8% | 23.7% | 19.4% | 22.1% | -8.9% |
| ROA | 6.2% | 6.2% | 11.9% | 11.6% | -21.5% | 15.8% | 17.7% | 7.8% | 10.3% | 13.8% | -5.3% |
| ROIC | — | — | 32.6% | 22.7% | -31.3% | 24.5% | 44.6% | 11.2% | 21.3% | 4.6% | 7.4% |
| ROCE | 22.9% | 22.9% | 20.4% | 14.1% | -25.2% | 18.0% | 25.7% | 8.3% | 11.6% | 2.4% | 3.6% |
ETSY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Etsy, Inc. carries a Debt/EBITDA ratio of 1.6x, which is manageable (67% below the sector average of 4.8x). The company holds a net cash position — cash of $1.4B exceeds total debt of $742M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 14.3x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | 3.80 | 1.50 | 2.08 | 0.85 | 0.18 | 0.20 |
| Debt / EBITDA | 1.58 | 1.58 | 4.89 | 6.44 | — | 4.42 | 2.31 | 6.19 | 3.37 | 1.79 | 1.73 |
| Net Debt / Equity | — | — | — | — | — | 2.56 | -0.17 | 0.99 | -0.06 | -0.62 | -0.33 |
| Net Debt / EBITDA | -1.39 | -1.39 | 3.23 | 3.97 | — | 2.98 | -0.27 | 2.95 | -0.24 | -6.28 | -2.80 |
| Debt / FCF | — | -1.02 | 2.22 | 2.22 | 2.27 | 2.59 | -0.19 | 2.11 | -0.14 | -4.39 | -523.86 |
| Interest Coverage | 14.33 | 14.33 | 30.75 | 21.85 | -45.72 | 48.71 | 9.70 | 4.32 | 3.48 | 3.90 | 0.60 |
Net cash position: cash ($1.4B) exceeds total debt ($742M)
ETSY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.44x means Etsy, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 2.21x to 1.44x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.44 | 1.44 | 2.00 | 2.21 | 2.40 | 2.18 | 4.17 | 4.89 | 6.07 | 4.29 | 4.42 |
| Quick Ratio | 1.44 | 1.44 | 2.00 | 2.21 | 2.40 | 2.18 | 4.17 | 4.89 | 6.07 | 4.29 | 4.42 |
| Cash Ratio | 1.19 | 1.19 | 1.56 | 1.62 | 1.85 | 1.60 | 3.67 | 4.33 | 5.57 | 3.32 | 3.36 |
| Asset Turnover | — | 1.02 | 1.16 | 1.02 | 0.97 | 0.61 | 0.72 | 0.53 | 0.67 | 0.73 | 0.63 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 27.05 | 25.77 | 38.53 | 37.24 | 38.78 | 35.83 | 29.07 | 20.14 | 64.80 | 56.25 |
ETSY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Etsy, Inc. returns 11.1% to shareholders annually primarily through share buybacks. The earnings yield of 1.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.9% | 2.5% | 4.4% | 2.8% | — | 1.6% | 1.5% | 1.7% | 1.3% | 3.3% | — |
| FCF Yield | 9.1% | 9.3% | 10.2% | 5.9% | 4.3% | 1.9% | 2.8% | 3.4% | 3.0% | 2.2% | 0.0% |
| Buyback Yield | 11.1% | 11.3% | 10.4% | 5.1% | 2.8% | 0.9% | 1.1% | 3.2% | 2.2% | 0.4% | 0.0% |
| Total Shareholder Yield | 11.1% | 11.3% | 10.4% | 5.1% | 2.8% | 0.9% | 1.1% | 3.2% | 2.2% | 0.4% | 0.0% |
| Shares Outstanding | — | $124M | $132M | $140M | $127M | $147M | $136M | $126M | $127M | $122M | $114M |
Peer Comparison
Compare ETSY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ETSYYou | $7B | 53.2 | 13.5 | 11.0 | 71.6% | 12.8% | — | — | 1.6 |
 EBAY | $49B | 24.9 | 21.3 | 29.8 | 71.5% | 20.5% | 41.6% | 16.8% | 2.9 |
 REAL | $4B | -18.3 | 432.1 | 196.4 | 69.8% | -3.5% | — | — | 51.1 |
 AMZN | $2.6T | 34.1 | 18.5 | 341.6 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 SHOP | $141B | 115.8 | 93.3 | 70.4 | 48.1% | 12.7% | 9.8% | 9.4% | 0.1 |
 WIX | $2B | 48.3 | 108.8 | 4.1 | 68.1% | 0.1% | — | 0.2% | 47.8 |
 PINS | $13B | 33.3 | 37.0 | 10.8 | 80.1% | 7.6% | 8.8% | 6.1% | 0.8 |
 PYPL | $37B | 7.9 | 5.6 | 6.7 | 46.6% | 18.3% | 25.7% | 15.0% | 1.4 |
 UPS | $89B | 16.0 | 9.5 | 18.7 | 18.5% | 9.6% | 33.8% | 16.1% | 2.6 |
 SHIP | $309M | 14.5 | 6.9 | 18.1 | 39.6% | 26.0% | 7.7% | 6.1% | 3.8 |
 META | $1.5T | 24.6 | 14.8 | 31.7 | 82.0% | 41.4% | 30.2% | 27.6% | 0.8 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 14 years · Updated daily
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ETSY — Frequently Asked Questions
Quick answers to the most common questions about buying ETSY stock.
What is Etsy, Inc.'s P/E ratio?
Etsy, Inc.'s current P/E ratio is 53.2x. The historical average is 49.4x. This places it at the 50th percentile of its historical range.
What is Etsy, Inc.'s EV/EBITDA?
Etsy, Inc.'s current EV/EBITDA is 13.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 40.2x.
Is ETSY stock overvalued?
Based on historical data, Etsy, Inc. is trading at a P/E of 53.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Etsy, Inc.'s profit margins?
Etsy, Inc. has 71.6% gross margin and 12.8% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Etsy, Inc. have?
Etsy, Inc.'s Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.