Stock ETSY ETSY, INC.
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Financials Etsy, Inc.

Equities

ETSY

US29786A1060

Department Stores

Real-time Estimate Cboe BZX
Other stock markets
 16:03:31 02/05/2024 BST 		5-day change 1st Jan Change
58.98 USD -15.42% Intraday chart for Etsy, Inc. -13.91% -28.62%
04:44pm Goldman Sachs Adjusts Price Target on Etsy to $70 From $80 MT
04:42pm Citigroup Adjusts Price Target on Etsy to $62 From $72 MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,249 22,433 27,757 15,055 9,705 8,180 - -
Enterprise Value (EV) 1 5,217 21,879 29,161 16,269 10,945 9,388 8,926 8,699
P/E ratio 58.3 x 66.1 x 64.4 x -21.9 x 36.2 x 27.7 x 23.2 x 18.9 x
Yield - - - - - - - -
Capitalization / Revenue 6.41 x 13 x 11.9 x 5.87 x 3.53 x 2.93 x 2.7 x 2.47 x
EV / Revenue 6.37 x 12.7 x 12.5 x 6.34 x 3.98 x 3.37 x 2.95 x 2.63 x
EV / EBITDA 28 x 39.8 x 40.7 x 22.7 x 14.5 x 12.3 x 10.6 x 9.37 x
EV / FCF 27.2 x 32.6 x 46.8 x 24.9 x 16.4 x 13.7 x 12.2 x 9.78 x
FCF Yield 3.67% 3.07% 2.14% 4.01% 6.08% 7.29% 8.19% 10.2%
Price to Book 12.9 x 30.2 x 44.2 x -27.7 x -17.7 x -14.5 x -22.2 x 13.8 x
Nbr of stocks (in thousands) 118,489 126,091 126,781 125,688 119,746 117,291 - -
Reference price 2 44.30 177.9 218.9 119.8 81.05 69.74 69.74 69.74
Announcement Date 26/02/20 25/02/21 24/02/22 22/02/23 21/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 818.4 1,726 2,329 2,566 2,748 2,790 3,027 3,307
EBITDA 1 186.3 549.1 716.6 716.9 754.3 762.8 843.4 928.2
EBIT 1 88.76 424 465.7 386.5 279.8 368.9 457.4 549.1
Operating Margin 10.85% 24.57% 20% 15.06% 10.18% 13.22% 15.11% 16.6%
Earnings before Tax (EBT) 1 80.65 365.7 471.7 -662 292.8 401.5 465.6 554.7
Net income 1 95.89 349.2 493.5 -694.3 307.6 348.2 402.9 482.4
Net margin 11.72% 20.24% 21.19% -27.06% 11.19% 12.48% 13.31% 14.59%
EPS 2 0.7600 2.690 3.400 -5.480 2.240 2.521 3.006 3.692
Free Cash Flow 1 191.6 671.8 623.4 652.9 665.6 684.7 730.7 889.4
FCF margin 23.42% 38.93% 26.76% 25.44% 24.22% 24.54% 24.14% 26.89%
FCF Conversion (EBITDA) 102.89% 122.35% 86.99% 91.07% 88.24% 89.76% 86.64% 95.81%
FCF Conversion (Net income) 199.85% 192.37% 126.32% - 216.41% 196.62% 181.35% 184.37%
Dividend per Share 2 - - - - - - - -
Announcement Date 26/02/20 25/02/21 24/02/22 22/02/23 21/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 532.4 717.1 579.3 585.1 594.5 807.2 640.9 628.9 636.3 842.3 646 632.5 647.5 866.9 688.8
EBITDA 1 174.2 218.8 159.2 162.7 167.8 227.2 170.3 166.2 182.2 235.5 167.9 165.4 184.6 241.5 181.7
EBIT 1 83.74 142.2 84.32 72.56 90.24 139.3 78.2 -2.372 88.56 115.5 68.09 70.56 92.59 144.5 87.41
Operating Margin 15.73% 19.84% 14.56% 12.4% 15.18% 17.26% 12.2% -0.38% 13.92% 13.71% 10.54% 11.16% 14.3% 16.67% 12.69%
Earnings before Tax (EBT) 1 83.8 144.4 85.99 73.16 -949 127.9 81.27 5.414 96.97 109.2 79.66 75.46 97.29 147.7 93.48
Net income 1 89.93 161.6 86.11 73.12 -963.1 109.5 74.54 61.92 87.85 83.27 63 65.96 81.69 129.9 79.41
Net margin 16.89% 22.53% 14.87% 12.5% -162% 13.57% 11.63% 9.85% 13.81% 9.89% 9.75% 10.43% 12.62% 14.99% 11.53%
EPS 2 0.6200 1.110 0.6000 0.5100 -7.620 0.7700 0.5300 0.4500 0.6400 0.6200 0.4800 0.4790 0.6039 0.9510 0.5852
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 03/11/21 24/02/22 04/05/22 27/07/22 02/11/22 22/02/23 03/05/23 02/08/23 01/11/23 21/02/24 01/05/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 1,404 1,214 1,239 1,208 746 519
Net Cash position 1 32.1 553 - - - - - -
Leverage (Debt/EBITDA) - - 1.959 x 1.693 x 1.643 x 1.584 x 0.8844 x 0.5593 x
Free Cash Flow 1 192 672 623 653 666 685 731 889
ROE (net income / shareholders' equity) 23.7% 60.8% 72% -1,707% - 95.9% 28.9% 336%
ROA (Net income/ Total Assets) 7.85% 17.7% 15.8% -21.5% 11.6% 13.5% 15.2% 28.2%
Assets 1 1,222 1,973 3,118 3,233 2,660 2,579 2,643 1,711
Book Value Per Share 2 3.440 5.900 4.950 -4.320 -4.570 -4.820 -3.150 5.060
Cash Flow per Share 2 1.650 4.980 - 5.390 5.030 4.800 5.680 -
Capex 1 15.3 7.11 28.2 30.7 39.9 43.3 49.7 54
Capex / Sales 1.87% 0.41% 1.21% 1.2% 1.45% 1.55% 1.64% 1.63%
Announcement Date 26/02/20 25/02/21 24/02/22 22/02/23 21/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Etsy, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
32
Last Close Price
69.74 USD
Average target price
77.81 USD
Spread / Average Target
+11.57%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Internet & Mail Order Department Stores

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Internet & Mail Order Department Stores
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