Valuation of Etsy, Inc. (ETSY): 2027 est. P/E 20.0×, P/B -13.15, EV/EBITDA 15.1, dividend yield 0.00%. The price range it would trade at on its usual multiples and on its sector's, with its peers' multiples and a comparison against other Consumer Cyclical companies.
Etsy, Inc. oversees online retail platforms designed to link independent merchants with a global customer base. Its primary marketplace is dedicated to unique and handcrafted items, while its Depop division focuses on the resale of apparel.
Where would it trade at its usual multiples?
No valuation verdict: its twelve-month earnings are above what analysts expect, so today's P/E looks lower than it will be.
Note: earnings per share over the last twelve months ($8.51) are far from the consensus for 2027 ($4.82); that is why this range uses expected earnings.
Analysis Summary
Etsy, Inc. reported revenue of $2.88B in the most recent fiscal year, growing at a 5-year CAGR of 10.8%. Net income reached $163.0M, with a -14.1% 5-year CAGR.
Trailing-twelve-month margins: gross margin 72.6%, operating margin 16.9%, net margin 34.4%.
At $96.24 (closing price, November 4, 2026), ETSY trades at a P/E of 11.31 and an ROE of -91.69%. Market capitalisation stands at $8.3B.
Balance sheet quality for ETSY: debt-to-equity ratio of -4.54, current ratio of 1.36 over the last 12 months. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Valuation Ratios
| P/E Ratio | 11.31 |
| Price / Book | -13.15 |
| EV / EBITDA | 15.1 |
| Dividend Yield | 0.00% |
Peer Comparison
| Symbol | Company | Market Cap | P/E | P/B | ROE |
|---|---|---|---|---|---|
| ETSY | Etsy, Inc. | $8.3B | 11.31 | -91.7% | |
| PDD | PDD Holdings Inc. | $116.9B | 8.23 | 1.72 | 22.0% |
| MELI | MercadoLibre, Inc. | $88.2B | 47.34 | 11.26 | 26.5% |
| EBAY | eBay Inc. | $54.9B | 27.33 | 12.66 | 46.1% |
| JD | JD.com, Inc. | $37.4B | 16.80 | 1.11 | 6.6% |
| SE | Sea Limited | $48.3B | 30.96 | 3.84 | 13.5% |
| W | Wayfair Inc. | $16.9B | 5.7% | ||
| VIPS | Vipshop Holdings Limited | $6.5B | 4.33 | 0.98 | 24.6% |
Price
| Price | $96.24 (closing price, November 4, 2026) |
| Market Cap | $8.3B |
| Exchange | NYSE |
| Country | US |
Profitability
| Return on Equity | -91.69% |
| Return on Invested Capital | 15.95% |
| Return on Assets | 31.17% |
| Gross Margin | 72.62% |
| Operating Margin | 16.91% |
| Net Margin | 34.36% |
Related companies: PDD · MELI · EBAY · JD · SE · W · VIPS
Explore sector: Consumer Cyclical · Specialty Retail
More sections of ETSY: Overview · Financials · Estimates · Technical · Ownership
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