Etsy, Inc.

ETSY Consumer Cyclical Internet Retail

Revenue
+11.0%
EPS
+1,132.8%
Free cash flow
−26.1%
Total debt
+0.16%

Quarter to September 2026, against a year earlier

96.80 6.94 +7.72%
Market cap
$7.8B
P/E
8.4×
Fwd P/E
21.8×
Dividend yield
—
F-score
5/9
Altman Z
1.26
Beneish M
−3.45
Dividend safety
n/a

Etsy, Inc. (ETSY) Gross margin

Alert me on Gross margin

Etsy, Inc.'s gross margin over the twelve months to 30 September 2026 was 71.3%, down 0.4 percentage points from fiscal 2025 (71.6%). Over the past ten years it has ranged from 64.5% (fiscal 2015) to 73.1% (fiscal 2020); the current reading is higher than 73% of that period. That is above the Internet Retail industry median of 44.1% and above the Consumer Cyclical sector median of 35.1%.

Gross margin, annual

Embed this chart

Annual newest first

Period Gross margin Change (points)
FY2025 71.6% (0.78)
FY2024 72.4% 2.57
FY2023 69.9% (1.13)
FY2022 71.0% (0.92)
FY2021 71.9% (1.17)
FY2020 73.1% 6.19
FY2019 66.9% (1.52)
FY2018 68.4% 2.62
FY2017 65.8% (0.43)
FY2016 66.2% 1.67

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 72.7% 0.23
Jun 2026 72.4% 0.26
Mar 2026 72.2% 3.13
Dec 2025 69.0% (4.33)
43 more quarters

Against its own ten years

Low 64.5% High 73.1%
Ten-year median 69.9%
Current reading's percentile 79

Gross margin against peers

Company Gross margin
CART Maplebear Inc. compare 72.6%
ETSY Etsy, Inc. 71.3%
GLBE Global-e Online Ltd. compare 45.2%
PTRN Pattern Group Inc. compare 43.9%
W Wayfair Inc. compare 30.1%
CHWY Chewy compare 29.9%
CPNG Coupang, Inc. compare 27.4%
VIPS Vipshop Holdings Limited compare 23.4%
JD JD.com, Inc. compare 16.6%
Internet Retail industry median 44.1%
Consumer Cyclical sector median 35.1%
Market median 46.4%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

More on ETSY