Etsy (ETSY) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Etsy

NYSE•Consumer Cyclical•Internet Retail

$73.46-0.54(-0.01%)Pre-market

Market Cap

$6.83B

P/E

32.6x

P/S

2.4x

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.

How this company scores

WeakMetricSide Score: 66/100

Grade capped at D — Negative equity — the balance sheet is insolvent. Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (8/25).

Profitability14/25

Growth19/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsRising earningsCash-backed earnings

Grade capped at D

Negative equity — the balance sheet is insolvent.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 32.6x5y range 16.1x – 58.1x

Currently near its 16-quarter median.

P/S · 2.4x5y range 1.6x – 12.3x

Currently near its 20-quarter median.

P/B · 16.4x5y range 16.4x – 48.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Price & Volume

Market Cap $6.83B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $2.86B
Q. Revenue: $668.31M
TTM EBITDA: $536.92M
TTM Op. Income: $457.22M
Q. Op. Income: $125.27M
TTM Net Income: $209.27M
Q. Net Income: $-46.65M
EPS: $-0.49
Shares Out.: $94.36M

$2.86B in TTM revenue grew 0.7% YoY, reaching $668.31M last quarter. TTM EBITDA of $536.92M and TTM operating income of $457.22M show growth is flowing through to the bottom line. TTM net income of $209.27M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 2 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 72.4%
EBITDA Margin: 21.0%
Op. Margin: 18.7%
Net Margin: -7.0%

Op. margin of 18.7% is up 7.4% YoY — cost efficiency is improving. Net margin at -7.0% and gross margin of 72.4% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 65% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 32.6x
P/S Ratio: 2.4x
P/B Ratio: N/A

At 32.6x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.4x and P/B of 0.0x provide additional context. P/E sits above typical market levels while revenue growth is below 5%. Over the past year, P/E is up 3% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.44B
Cash: $901.28M
Long-Term Debt: $2.34B
Book Value: $-1.40B
D/E Ratio: N/A
Debt/EBITDA: 16.6

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $165.91M
TTM Free Cash Flow: $796.54M
FCF Margin: 27.9%
FCF / Net Income: 3.8

TTM FCF of $796.54M on $165.91M in operating cash flow. The FCF / Net Income ratio of 3.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.