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Etsy ETSY Ratios & Valuation

Q2 '26Q1 '26Q4 '25Q3 '25Q2 '25
Profitability
Gross margin72.3%-0.9pp72.5%-0.3pp72.6%+0.1pp73%+2.0pp73.2%+2.6pp
Operating margin16%+3.9pp15.1%+4.0pp10.8%-2.7pp11.8%-0.3pp12.1%-0.3pp
Net margin7.3%+1.4pp10.1%+3.3pp5.8%-5.0pp6.6%-2.6pp6%-4.4pp
Returns
Return on invested capital34.2%+9.9pp30.5%+8.8pp19.3%-11.1pp26.3%-8.2pp24.3%-8.7pp
Efficiency
Asset turnover1.1×0.0×1.2×0.0×1.1×0.0×1.1×-0.1×1.1×0.0×
Liquidity
Current ratio1.5×-1.9×1.7×-0.4×1.4×-0.6×3.2×+0.8×3.4×+1.0×
Leverage
Net debt / EBITDA5.1×+0.5×4.8×+0.5×+2.6×4.2×+0.7×4.5×+0.8×
Per Share
Book value per share-$11.63-25.7%-$9.39-10.5%-$8.85-53.6%-$8.90-86.5%-$9.25-94.0%
Valuation
Market capitalization$8.15B+46.3%$4.81B-4.8%$5.47B-8.0%$6.58B+3.3%$5.57B-19.3%
Price / earnings38.9×+5.0×16.9×-10.0×33.6×+14.0×36.1×+11.3×33.9×+9.9×
Price / sales2.9×+0.8×1.7×-0.1×-0.2×2.4×+0.1×-0.5×
EV / EBITDA19.7×+1.8×13.9×-2.8×19.5×+4.0×19.5×+1.6×17.8×-1.5×

FAQ

What are Etsy's profit margins?
Etsy (ETSY) runs a 72.3% gross margin and a 16.0% operating margin, with a 7.3% net margin.
Where do Etsy's ratios come from?
Every ratio is computed from Etsy's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.