EtsyETSYRevenue: is the business selling more than it used to?
$2.9B+3% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $2.9B in 2025, compounding +4% a year since 2022 though the pace has cooled. The trailing twelve months are already running at $2.9B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYNet income: how much of that revenue becomes profit?
$163M−46% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $163M in 2025, against $303M the year before. Earnings per share moved +28% over the last twelve months. Trailing twelve-month profit stands at $209M.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYHow fast is it growing, year by year?
+2.7%revenue growth, FY 2025
Off the axis: 2020 earnings +264.2% · 2022 earnings -240.5% - rebounds off a collapsed prior year.
→Revenue grew +3% in 2025 against a five-year average of +11%. Earnings went the other way (-46%) even as sales grew, so margins compressed: costs rose faster than revenue. 2020's +264% earnings rebound off a collapsed base and 2022's swing into loss (-240%) sits off the axis.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYRevenue per share: is your slice growing as fast as the company?
$23.23revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $23.23 in 2025, compounding +5% a year - in line with ETSY's own +4%, so the share count is not distorting your slice. Free cash flow per share stands at $5.46.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYFree cash flow: what is left in real cash after everything?
$678M−8% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $678M in 2025, compounding +0% a year since 2022. The trailing twelve months stand at $649M.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYWhere does each dollar of revenue actually go?
→Of $2.9B in 2025 sales, $163M reaches net profit - 6 cents on the dollar. The largest single deduction is running the company ($1.8B).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→24 cents of every sales dollar became free cash in 2025, down 3 points since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is research and development, at 16% of revenue (stock compensation 8%, capital spending 1%).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYWhen sales grow, do profits grow faster?
→Operating profit outgrew revenue in only 2 of the last 5 years. Costs are growing roughly in step with the business, so scale isn't yet paying for itself.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Operating margin widened 35 points to 9% since 2022. After everything, 6 cents of each sales dollar reaches net profit.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Return on capital needs both a profit and an equity base; one of them isn't available here.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYWhat has the market paid for ETSY over time?
45.4xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 45.4x earnings, the market is paying about what it has typically paid ETSY's own 8-year median of 42.3x. Neither a bargain nor a stretch by its own standard.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYWhat cash return does the business throw off per dollar of market value?
9.2%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 9.2% of annual free cash flow, more than its 11-year median of 4.2% - the cash is cheaper than usual.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYCould it handle its debt if things went wrong?
→Debt of $3.0B sits against $901M of cash. Earnings cover the interest bill 19 times over, so the debt is comfortably serviced.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYIs the company's own capital growing?
→Shareholders' equity is negative at $-1.4B: liabilities exceed assets. Usually the mark of heavy buybacks or accumulated losses, and always worth understanding which.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYHow much goes back, and how much leaks out as stock comp?
→Shareholders received $777M in buybacks in 2025. Stock compensation issued $245M of new shares in the same year, offsetting 32% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYHow fast is your ownership being diluted - or concentrated?
→The share count shrank 5.8% in 2025, averaging 0.4% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYDoes ETSY earn more on its capital than that capital costs?
→ETSY earns 18.2% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYETSY has issued or retired shares - did shareholders end up better off?
→ETSY issued +36% more shares from 2015 to 2025, but revenue per share still rose +674%. The dilution bought more growth than it cost existing holders.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
EtsyETSYAre the people running it buying or selling?
→Insiders sold $51M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 20 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30