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Etsy Valuation Multiples

Discover revenue and EBITDA valuation multiples for Etsy and similar public comparables like Marti Technologies, Prosus, and Articore Group.

Etsy Overview

About Etsy

Etsy operates a top-10 e-commerce marketplace in the US and the UK, with sizable operations in Germany, France, Australia, and Canada. The firm dominates an interesting niche, connecting buyers and sellers through its online market to exchange vintage and craft goods. With $12.5 billion in 2024 consolidated gross merchandise volume, Etsy has cemented itself as one of the largest players in a quickly growing space, generating revenue from listing fees, commissions on sold items, advertising services, payment processing, and shipping labels. As of the end of 2024, the firm connected more than 95 million buyers and 8 million sellers on its marketplace properties: Etsy, Reverb (musical equipment), and Depop (clothing resale).


Founded

2006

HQ

United States of America
Employees

2.4K+

Website

etsy.com

Financials

LTM Revenue $2.8B

LTM EBITDA $774M

EV

$6.0B

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Etsy Financials

Etsy has a last 12-month revenue of $2.8B and a last 12-month EBITDA of $774M.

In the most recent fiscal year, Etsy achieved revenue of $2.8B and an EBITDA of $533M.

Etsy expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Etsy P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $2.7B $2.8B XXX XXX XXX
Gross Profit $1.8B $1.9B XXX XXX XXX
Gross Margin 66% 68% XXX XXX XXX
EBITDA $398M $533M XXX XXX XXX
EBITDA Margin 14% 19% XXX XXX XXX
Net Profit -$694M $308M XXX XXX XXX
Net Margin -25% 11% XXX XXX XXX
Net Debt $1.4B $1.4B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Etsy Stock Performance

As of April 15, 2025, Etsy's stock price is $44.

Etsy has current market cap of $4.7B, and EV of $6.0B.

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Etsy Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$6.0B $4.7B XXX XXX XXX XXX $2.40

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Etsy Valuation Multiples

As of April 15, 2025, Etsy has market cap of $4.7B and EV of $6.0B.

Etsy's trades at 2.1x LTM EV/Revenue multiple, and 7.8x LTM EBITDA.

Analysts estimate Etsy's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Etsy Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $6.0B XXX XXX XXX
EV/Revenue 2.1x XXX XXX XXX
EV/EBITDA 11.3x XXX XXX XXX
P/E 15.4x XXX XXX XXX
P/E/Growth 2.7x XXX XXX XXX
EV/FCF 8.5x XXX XXX XXX

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Etsy Valuation Multiples

Etsy's NTM/LTM revenue growth is 0%

Etsy's revenue per employee for the last fiscal year averaged $1.2M, while opex per employee averaged $0.7M for the same period.

Over next 12 months, Etsy's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Etsy's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Etsy Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 2% XXX XXX XXX XXX
EBITDA Margin 19% XXX XXX XXX XXX
EBITDA Growth 34% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 19% XXX XXX XXX XXX
Revenue per Employee $1.2M XXX XXX XXX XXX
Opex per Employee $0.7M XXX XXX XXX XXX
S&M Expenses to Revenue 31% XXX XXX XXX XXX
G&A Expenses to Revenue 13% XXX XXX XXX XXX
R&D Expenses to Revenue 16% XXX XXX XXX XXX
Opex to Revenue 59% XXX XXX XXX XXX

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Etsy Public Comps

See public comps and valuation multiples for Consumer Marketplaces and Vertical Marketplaces comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Prosus XXX XXX XXX XXX XXX XXX
Just Eat Takeaway.com XXX XXX XXX XXX XXX XXX
Marti Technologies XXX XXX XXX XXX XXX XXX
Airtasker XXX XXX XXX XXX XXX XXX
Articore Group XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Etsy M&A and Investment Activity

Etsy acquired  XXX companies to date.

Last acquisition by Etsy was  XXXXXXXX, XXXXX XXXXX XXXXXX . Etsy acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Etsy

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Etsy

When was Etsy founded? Etsy was founded in 2006.
Where is Etsy headquartered? Etsy is headquartered in United States of America.
How many employees does Etsy have? As of today, Etsy has 2.4K+ employees.
Who is the CEO of Etsy? Etsy's CEO is Mr. Josh Silverman.
Is Etsy publicy listed? Yes, Etsy is a public company listed on NAS.
What is the stock symbol of Etsy? Etsy trades under ETSY ticker.
When did Etsy go public? Etsy went public in 2015.
Who are competitors of Etsy? Similar companies to Etsy include e.g. Prosus, Just Eat Takeaway.com, Marti Technologies, Airtasker.
What is the current market cap of Etsy? Etsy's current market cap is $4.7B
What is the current revenue of Etsy? Etsy's last 12-month revenue is $2.8B.
What is the current EBITDA of Etsy? Etsy's last 12-month EBITDA is $774M.
What is the current EV/Revenue multiple of Etsy? Current revenue multiple of Etsy is 2.1x.
What is the current EV/EBITDA multiple of Etsy? Current EBITDA multiple of Etsy is 7.8x.
What is the current revenue growth of Etsy? Etsy revenue growth between 2023 and 2024 was 2%.
Is Etsy profitable? Yes, Etsy is EBITDA-positive (as of the last 12 months).

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