ETSY INC ETSY

Industrials SIC 7389 - Services-Business Services, NEC NAICS Administrative and Support and Waste Management and Remediation Services › Administrative and Support Services derived NYSE

"Keep Commerce Human" reflects our belief that creativity and connection set us apart in an increasingly automated world. We see lasting value in businesses that balance people, planet, and profit, and we strive to align our growth strategy with this principle—using our platform to foster entrepreneurship and sustainable economic impact. You can read more about Etsy's Impact strategy beginning on page 9.

Etsy operates two-sided online marketplaces that connect millions of creative entrepreneurs with buyers around the world.

The Etsy marketplace is the global destination for unique, creative goods from independent sellers, connecting artisans with thoughtful consumers seeking items that reflect their tastes and values. We also operate Depop Limited ("Depop"), a leading fashion resale marketplace acquired in 2021. Total consolidated Gross Merchandise Sales ("GMS") in 2025 was $11,916.9 million. Of this, Etsy marketplace GMS was $10,460.7 million or 87.8% of the total and Depop generated $1,074.9 million (or 9.0% of the total) of GMS.

Last close 86.93 2026-10-23
Market cap $7.98B 2026-06-30 share count
52-week range 44.00 - 91.12

Valuation FY2025 figures against the last close

P/S2.8x
P/E62.5x
P/FCF11.8x
EV/EBITDA25.4x
Dividend yield—
Diluted EPS1.39

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • All Other
  • United Kingdom
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 1.5B (50.8%) 51% United States All Other, FY2025: 1.1B (38.9%) 39% All Other United Kingdom, FY2025: 296.2M (10.3%) 10% United Kingdom FY2024 United States, FY2024: 1.5B (52.3%) 52% All Other, FY2024: 1B (36.3%) 36% United Kingdom, FY2024: 320.9M (11.4%) 11% FY2023 United States, FY2023: 1.5B (53.6%) 54% All Other, FY2023: 927.8M (33.8%) 34% United Kingdom, FY2023: 347.9M (12.7%) 13%
Region FY2025FY2024FY2023
United States $1.47B $1.47B $1.47B
All Other $1.12B $1.02B $927.8M
United Kingdom $296.2M $320.9M $347.9M

As the company reported it, from the “Segment and Geographic Information - Schedule of Revenue by Geographic Area (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.88B$2.81B$2.75B$2.57B$2.33B$1.73B$818.4M$603.7M$441.2M$365.0M
Cost of revenue $817.8M$774.6M$828.7M$744.6M$654.5M$464.7M$271.0M$190.8M$151.0M$123.3M
Gross profit $2.07B$2.03B$1.92B$1.82B$1.67B$1.26B$547.3M$412.9M$290.2M$241.6M
R&D $450.2M$443.1M$469.3M$412.4M$271.5M$180.1M$121.9M$97.2M$74.6M$55.1M
SG&A $332.8M$353.9M$343.2M$312.3M$282.5M$156.0M$121.1M$82.9M$91.5M$86.2M
Total operating expenses $1.80B$1.65B$1.64B$2.48B$1.21B$836.9M$458.6M$338.1M$278.3M$224.1M
Operating income $266.2M$380.2M$279.8M-$658.6M$465.7M$424.0M$88.8M$74.8M$11.9M$17.6M
Interest expense $18.5M$13.8M$14.0M$14.2M$9.9M$42.0M$24.3M$22.2M$11.1M$7.2M
Pre-tax income $246.7M$410.8M$292.8M-$662.0M$471.7M$365.7M$80.6M$55.1M$32.3M-$2.9M
Income tax $83.7M$107.5M$14.7M$32.3M$21.9M$16.5M$15.2M$22.4M$49.5M$27.0M
Net income $163.0M$303.0M$308.0M-$694.0M$494.0M$349.2M$95.9M$77.5M$81.8M-$29.9M
EPS, basic 1.592.642.51-5.483.882.880.800.640.69-0.26
EPS, diluted 1.392.352.24-5.483.402.690.760.610.68-0.26
Shares, diluted (wtd. avg.) 124.1M131.7M140.1M126.8M146.7M136.4M125.7M127.1M122.3M113.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.40B$811.2M$914.3M$926.6M$785.5M$1.24B$443.3M$367.0M$315.4M$181.6M
Short-term investments $224.1M$228.3M$236.1M$250.4M$204.4M$425.1M$374.0M$257.3M$25.1M$100.5M
Receivables $8.7M$8.7M$24.7M$27.9M$27.3M$22.6M$15.4M$12.2M$33.7M$26.4M
Total current assets $1.96B$1.33B$1.57B$1.51B$1.34B$1.89B$921.0M$680.3M$439.3M$371.0M
Property, plant and equipment ———————$120.2M$117.6M$126.4M
Goodwill $38.1M$137.1M$138.4M$137.7M$1.37B$140.8M$138.7M$37.5M$38.5M$35.7M
Other intangibles $297.4M$413.9M$457.1M$535.4M$607.2M$187.4M$199.2M$34.6M$4.1M$7.5M
Total assets $2.83B$2.42B$2.69B$2.63B$3.83B$2.40B$1.54B$901.9M$605.6M$581.2M
Accounts payable $28.8M$26.0M$29.9M$28.8M$28.0M$40.9M$26.3M$26.5M$13.6M$11.0M
Short-term debt $649.0M$0————————
Total current liabilities $1.36B$665.1M$710.8M$631.8M$615.6M$454.7M$188.5M$112.1M$102.5M$84.0M
Long-term debt $2.33B$2.29B$2.28B$2.28B$2.28B$1.06B$785.1M$276.5M$0—
Total liabilities $3.93B$3.18B$3.23B$3.18B$3.20B$1.66B$1.14B$501.0M$208.7M$236.4M
Retained earnings -$2.40B-$1.78B-$1.36B-$1.05B$71.7M-$146.8M-$227.4M-$153.4M-$96.3M-$116.3M
Total equity -$1.10B-$758.9M-$543.7M-$547.3M$628.6M$742.4M$406.6M$400.9M$396.9M$344.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $693.4M$752.5M$705.5M$683.6M$651.6M$679.0M$206.9M$198.9M$69.1M$48.0M
Depreciation and amortisation $101.8M$108.1M$91.3M$96.7M$74.3M$58.2M$48.0M$26.7M$27.2M$22.5M
Stock-based compensation $244.7M$282.8M$284.6M$230.9M$139.9M$65.1M$44.4M$38.2M$26.6M—
Capital expenditure $15.4M$14.2M$12.9M$10.2M$11.2M$1.4M$7.5M$1.0M$3.9M$36.0M
Investing cash flow $32.1M-$53.1M-$73.3M-$30.0M-$1.56B-$11.4M-$488.4M-$285.4M$61.8M-$135.4M
Financing cash flow -$169.9M-$787.2M-$656.5M-$506.5M$452.7M$119.3M$359.6M$144.0M$6.6M-$524.0K
Buybacks $776.9M$723.9M$577.0M$425.7M$302.8M$268.7M$177.0M$134.6M$10.3M$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001370637-26-000026.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2016: 365M Gross profit, FY2016: 241.6M Net income, FY2016: -29.9M Revenue, FY2017: 441.2M Gross profit, FY2017: 290.2M Net income, FY2017: 81.8M Revenue, FY2018: 603.7M Gross profit, FY2018: 412.9M Net income, FY2018: 77.5M Revenue, FY2019: 818.4M Gross profit, FY2019: 547.3M Net income, FY2019: 95.9M Revenue, FY2020: 1.7B Gross profit, FY2020: 1.3B Net income, FY2020: 349.2M Revenue, FY2021: 2.3B Gross profit, FY2021: 1.7B Net income, FY2021: 494M Revenue, FY2022: 2.6B Gross profit, FY2022: 1.8B Net income, FY2022: -694M Revenue, FY2023: 2.7B Gross profit, FY2023: 1.9B Net income, FY2023: 308M Revenue, FY2024: 2.8B Gross profit, FY2024: 2B Net income, FY2024: 303M Revenue, FY2025: 2.9B Gross profit, FY2025: 2.1B Net income, FY2025: 163M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $365.0M $441.2M $603.7M $818.4M $1.73B $2.33B $2.57B $2.75B $2.81B $2.88B
Gross profit $241.6M $290.2M $412.9M $547.3M $1.26B $1.67B $1.82B $1.92B $2.03B $2.07B
Net income -$29.9M $81.8M $77.5M $95.9M $349.2M $494.0M -$694.0M $308.0M $303.0M $163.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Regulation FD disclosure Item 7.01
  • Material agreement signed Item 1.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed Item 1.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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