ETSY Financials Etsy Inc

13 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 31, 2026, 11:17 UTC Overview →

Growth & profitability

Revenue has grown 10.8% per year over the past 5 years.
Net income has grown slower than revenue (-14.1% vs 10.8% per year).
Operating margin has contracted, at 9.2% in the latest year.
Free cash flow has grown 0.0% per year over the past 5 years.

Financial health

Total debt ($3.0B) exceeds cash ($1.4B); net debt is $1.6B.
Total debt has grown faster than revenue (22.9% vs 10.8% per year).
Operating income covered interest expense 14× in the latest year.
Total debt is 8.1× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$2.9B	$163M	71.6%	9.2%	-14.8%	5.8%	$678M	$3.0B	$1.4B
2024	$2.8B	$303M	72.4%	13.5%	-39.9%	12.5%	$738M	$2.3B	$811M
2023	$2.7B	$308M	69.8%	10.2%	-56.6%	11.5%	$693M	$2.3B	$914M
2022	$2.6B	-$694M	71.0%	-25.7%	126.8%	-26.3%	$673M	$2.3B	$921M
2021	$2.3B	$494M	71.9%	20.0%	78.6%	12.9%	$640M	$2.3B	$780M
2020	$1.7B	$349M	73.1%	24.6%	47.0%	14.5%	$678M	$1.1B	$1.2B
2019	$818M	$96M	66.9%	10.8%	23.6%	6.2%	$199M	$785M	$443M
2018	$604M	$77M	68.4%	12.4%	19.3%	8.6%	$198M	$276M	$367M
2017	$441M	$82M	65.8%	2.7%	20.6%	13.5%	$65M	$0	$315M
2016	$365M	-$30M	66.2%	4.8%	-8.7%	-5.1%	$12M	—	$182M
2015	—	-$54M	—	—	-16.4%	-9.8%	$22M	—	$271M
2014	—	-$15M	—	—	-22.7%	-6.2%	$11M	—	$70M
2013	—	-$796000	—	—	-19.9%	—	$9M	—	$37M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$692M	$854M	72.7%	16.1%	-125.9%	26.9%	$158M	$3.0B	$2.1B
Jun '26	$668M	-$47M	72.4%	18.7%	3.3%	-1.9%	$39M	$3.0B	$901M
Mar '26	$631M	$70M	72.2%	19.0%	-6.1%	2.6%	$79M	$3.0B	$1.2B
Dec '25	$882M	$111M	73.1%	14.7%	-10.1%	3.9%	$316M	$3.0B	$1.4B
Sep '25	$624M	$76M	73.4%	17.8%	-6.8%	2.8%	$215M	$3.0B	$1.2B
Jun '25	$629M	$29M	73.2%	15.0%	-2.6%	1.1%	$101M	$3.0B	$1.2B
Mar '25	$612M	-$52M	72.6%	-0.6%	5.7%	-2.5%	$46M	$2.3B	$618M
Dec '24	$852M	$130M	74.5%	18.2%	-17.1%	5.4%	$311M	$2.3B	$811M
Sep '24	$662M	$57M	72.0%	13.1%	-9.2%	2.3%	$213M	$2.3B	$819M
Jun '24	$648M	$53M	71.6%	10.8%	-8.3%	2.2%	$147M	$2.3B	$759M
Mar '24	$646M	$63M	71.0%	10.5%	-10.8%	2.5%	$67M	$2.3B	$789M
Dec '23	$842M	$83M	69.6%	13.7%	-15.3%	3.1%	$290M	$2.3B	$914M
Sep '23	$636M	$88M	70.3%	13.9%	-14.1%	3.6%	$215M	$2.3B	$742M
Jun '23	$629M	$62M	70.0%	-0.4%	-13.3%	2.4%	$135M	$2.3B	$842M
Mar '23	$641M	$75M	69.5%	12.2%	-13.8%	3.0%	$53M	$2.3B	$787M
Dec '22	$807M	$110M	72.0%	17.3%	-20.0%	4.2%	$290M	$2.3B	$921M
Sep '22	$594M	-$963M	70.7%	-160.6%	158.9%	-39.3%	$204M	$2.3B	$790M
Jun '22	$585M	$73M	70.7%	12.4%	12.6%	2.0%	$123M	$2.3B	$759M
Mar '22	$579M	$86M	70.1%	14.6%	12.7%	2.3%	$56M	$2.3B	$756M
Dec '21	$717M	$162M	70.9%	19.8%	25.7%	4.2%	$285M	$2.3B	$780M

Valuation over time

How the market has priced ETSY against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 18.6× (Jan '24) to 47.6× (Nov '26).
The price-to-sales ratio has fallen from 3.7× (Mar '23) to 2.7× (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is ETSY growing its revenue and profit?

Over the past 5 years, Etsy Inc's revenue has grown 10.8% per year, and net income declined 14.1% per year. These are computed facts, not advice.

How much debt does ETSY have?

As of FY2025, Etsy Inc reported $3.0B of total debt against $1.4B of cash; operating income covered interest expense 14×.

What is ETSY's profit margin?

In FY2025, gross margin was 71.6%, operating margin 9.2%, and net margin 5.7%.

What is ETSY's P/E ratio?

Etsy Inc's P/E (TTM) is 7.85 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the ETSY stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 47.6× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.