What are Etsy's profit margins?

Etsy (ETSY) runs a 72.0% gross margin and a 14.3% operating margin, with a 9.9% 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.

Etsy ETSY Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	72%-0.8pp	72.1%-0.3pp	72.5%+1.6pp	72.7%+2.1pp	72.8%+2.6pp
Operating margin	14.3%+3.2pp	10%-3.5pp	11%-1.1pp	11.2%-1.1pp	11.1%+1.3pp
Net margin	9.9%+3.2pp	5.7%-5.1pp	6.5%-2.7pp	5.9%-4.5pp	6.8%-4.0pp
EBITDA margin	17.8%+3.1pp	13.6%-3.8pp	14.7%-1.2pp	15.1%-0.9pp	14.7%+1.4pp
Free cash flow margin	24.8%-1.0pp	23.8%-2.5pp	23.9%-1.7pp	24%-1.9pp	25.9%+0.2pp
Returns
Return on assets	11.9%+3.7pp	6.2%-5.7pp	7.2%-3.3pp	6.6%-4.9pp	8.1%-3.7pp
Return on invested capital	29%+7.3pp	17.8%-12.6pp	24.3%-10.3pp	22.4%-10.6pp	21.7%-4.3pp
Efficiency
Asset turnover	1.2×0.0×	1.1×0.0×	1.1×0.0×	1.1×0.0×	1.2×+0.1×
Liquidity
Current ratio	1.7×-0.4×	1.4×-0.6×	3.2×+0.8×	3.4×+1.0×	2.1×-0.3×
Quick ratio	1.7×-0.4×	1.4×-0.6×	3.2×+0.8×	3.4×+1.0×	2.1×-0.3×
Cash ratio	1×-0.3×	1×-0.2×	2.2×+0.7×	2.4×+1.1×	1.3×-0.1×
Leverage
Debt-to-assets	1.4×+0.3×	1.3×+0.3×	1.2×+0.2×	1.2×+0.2×	1.1×+0.2×
Net debt / EBITDA	4.9×+0.7×	6.2×+2.9×	4.4×+0.9×	4.5×+0.8×	4.3×-0.1×
Per Share
Book value per share	-$9.39-10.5%	-$8.85-53.6%	-$8.90-86.5%	-$9.25-94.0%	-$8.50-97.1%
Valuation
Market capitalization	$4.81B-4.8%	$5.47B-8.0%	$6.58B+3.3%	$5.57B-19.3%	$5.05B-38.0%
Enterprise value	$7.32B+7.8%	$7.88B+4.1%	$8.4B+5.8%	$7.46B-12.5%	$6.79B-30.3%
Price / earnings	16.9×-10.0×	33.6×+14.0×	36.1×+11.3×	33.9×+9.9×	26.8×-0.7×
Price / sales	1.7×-0.1×	1.9×-0.2×	2.3×+0.1×	2×-0.5×	1.8×-1.1×
EV / EBITDA	14.4×-2.3×	20.4×+4.9×	20.3×+2.5×	17.7×-1.6×	16.7×-10.0×
EV / sales	2.6×+0.1×	2.8×+0.1×	3×+0.1×	2.7×-0.4×	2.4×-1.1×
Free cash flow yield	14.8%+0.6pp	12.4%0.0pp	10.2%-1.0pp	12.1%+1.6pp	14.2%+5.5pp
Earnings yield	5.9%+2.2pp	3%-2.1pp	2.8%-1.3pp	2.9%-1.2pp	3.7%+0.1pp
PEG ratio	0.3×—	——	——	——	——

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Questions, answered.

What are Etsy's profit margins?: Etsy (ETSY) runs a 72.0% gross margin and a 14.3% operating margin, with a 9.9% 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.