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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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.9B | $367M | $163M | $639M | -14.8% | 2.7% | -46.3% |
| 2024 | $2.8B | $533M | $303M | $709M | -40.0% | 2.2% | -1.4% |
| 2023 | $2.7B | $398M | $308M | $666M | -56.6% | 7.1% | -144.3% |
| 2022 | $2.6B | $-551M | $-694M | $646M | 126.9% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,566.11 | 2,748.38 | 2,808.33 | 2,883.50 |
| Cost Of Revenue | - | 744.59 | 828.68 | 774.55 | 817.80 |
| Gross Profit | - | 1,821.52 | 1,919.70 | 2,033.78 | 2,065.70 |
| Operating Expense | - | 1,435.06 | 1,571.77 | 1,653.57 | 1,697.79 |
| Operating Income | - | 386.46 | 347.93 | 380.21 | 367.91 |
| EBITDA | - | -551.11 | 398.18 | 532.66 | 367.02 |
| EBIT | - | -647.81 | 306.86 | 424.58 | 265.17 |
| Pretax Income | - | -661.98 | 292.82 | 410.78 | 246.66 |
| Tax Provision | - | 32.31 | -14.75 | 107.49 | 83.68 |
| Net Income | - | -694.29 | 307.57 | 303.28 | 162.98 |
| Net Income Common Stockholders | - | -694.29 | 307.57 | 303.28 | 162.98 |
| Total Expenses | - | 2,179.65 | 2,400.45 | 2,428.12 | 2,515.59 |
| Interest Expense | - | 14.17 | 14.04 | 13.81 | 18.51 |
| Interest Income | - | 10.96 | 36 | 30.98 | 44.49 |
| Research And Development | - | 412.40 | 469.33 | 443.06 | 450.19 |
| Selling General And Administration | - | 1,022.66 | 1,102.44 | 1,210.51 | 1,247.60 |
| Normalized EBITDA | - | 494.12 | 475.25 | 519.26 | 514.25 |
| Normalized Income | - | 131.44 | 368.45 | 293.39 | 260.30 |
| Market Cap | 5,972.01 | 5,972.01 | 5,972.01 | 5,972.01 | 5,972.01 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Etsy, Inc.this co. | ETSY | - | 36.64↑ premium | -5.44 | -14.8% | 20.85 |
| The Buckle, Inc. | BKE | $2.8B | 13.79 | 6.81 | 49.4% | 10.55 |
| Steven Madden, Ltd. | SHOO | $2.7B | 63.10 | 3.25 | 5.2% | 25.85 |
| OneSpaWorld Holdings Limited | OSW | $2.5B | 34.20 | 4.51 | 13.2% | 23.59 |
| Versigent PLC | VGNT | $2.5B | 5.04 | 1.50 |
| - |
| - |
| - |
| - |
| 29.8% |
| 2.76 |
| Sonic Automotive, Inc. | SAH | $2.4B | 20.32 | 2.26 | 11.1% | 12.63 |
| Mister Car Wash, Inc. | MCW | $2.3B | 22.53 | 2.05 | 9.1% | 14.11 |
| HNI Corporation | HNI | $1.8B | 50.08 | 1.48 | 3.0% | 17.55 |
| CarGurus, Inc. | CARG | $1.6B | 21.76 | 9.07 | 41.7% | 12.42 |
| Peer Median | - | 22.15 | 2.76 | 12.2% | 13.37 | |