ETSY INC

10-K & 10-Q Filings

Etsy is a mission-driven e-commerce company that operates two-sided online marketplaces, connecting millions of buyers and sellers around the world. Its primary marketplace, Etsy.com, is a global destination for unique and creative goods made by independent sellers. Etsy's strategy includes building a sustainable competitive advantage, growing the Etsy marketplace in six core geographies and globally, and leveraging its marketplace playbook across its "House of Brands," which includes Reverb, a marketplace for musical instruments, and Depop, a fashion resale marketplace. Etsy generates revenue primarily from marketplace activities, including transaction fees, payments processing, and listing fees, as well as from optional seller services. The company's business model is centered around connecting sellers and buyers, enabling their transactions, and reinvesting in customer experiences to grow the Etsy marketplace and its sellers' revenue. Etsy's website is etsy.com, and its ticker symbol is ETSY.

12 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$273.50
364.97
441.23
603.69
818.38
1725.63
2329.11
2566.11
2748.38
640.88
645.95
33.43%0.79%Cost of Revenue (-)
$96.98
123.33
150.99
190.76
271.04
464.75
654.51
744.59
828.67
195.45
187.13
30.76%-4.26%Gross Profit (+)
$176.52
241.64
290.25
412.93
547.34
1260.88
1674.60
1821.52
1919.70
445.42
458.82
34.76%3.01%Selling, General & Administrative (-)
$135.71
168.98
200.57
240.90
336.70
656.79
937.34
1022.66
1102.44
251.30
280.88
29.93%11.77%Marketing Expenses (-)
$66.77
82.80
109.08
Research & Development (-)
$42.69
55.08
74.62
97.25
121.88
180.08
271.54
412.40
469.33
115.92
109.85
34.94%-5.24%Non-recurring Operating Expenses (-)
$
3.16
1045.02
68.09
Operating Expenses (-)
$178.40
224.06
278.35
338.14
458.58
836.87
1208.87
2480.08
1639.86
367.23
390.73
31.95%6.40%Costs & Expenses (Total) (-)
$275.38
347.39
429.33
528.91
729.62
1301.62
1863.38
3224.67
2471.17
562.68
577.86
31.56%2.70%Operating Income/Loss (+)
$-1.88
17.58
11.90
74.79
88.76
424.01
465.73
-658.56
279.84
78.20
68.09
-12.93%Non-operating Income/Expense (+)
$-26.11
-20.45
20.37
-19.71
-8.12
-58.30
5.92
-3.42
12.98
3.07
11.56
276.46%Interest Expense (-)
$1.53
7.20
11.13
22.18
24.32
42.02
9.88
14.17
14.04
31.97%Earnings before Tax (+)
$-27.99
-2.88
32.27
55.08
80.65
365.71
471.65
-661.98
292.82
81.27
79.66
-1.99%Tax Expense (-)
$26.07
27.02
-49.53
-22.41
-15.25
16.46
-21.85
32.31
-14.75
6.73
16.65
147.27%Income/Loss (Continuing Operations) (+)
$-54.06
-29.90
81.80
77.49
95.89
349.25
493.51
-694.29
307.57
74.54
63.00
-15.47%Net Income/Loss (+)
$-54.06
-29.90
81.80
77.49
95.89
349.25
493.51
-694.29
307.57
74.54
63.00
-15.47%Net Income/Loss (Common) (+)
$-54.06
-29.90
81.80
77.49
95.89
349.25
493.51
-694.29
307.57
74.54
63.00
-15.47%EPS (Basic)
$-0.59
-0.26
0.69
0.64
0.80
2.88
3.88
-5.48
2.51
0.60
0.53
-11.67%EPS (Diluted)
$-0.59
-0.26
0.68
0.61
0.76
2.69
3.40
-5.48
2.24
0.53
0.48
-9.43%Weighted Avg Shares (Basic)
91.12
113.56
118.54
120.15
119.67
121.25
127.22
126.78
122.50
124.34
118.44
3.77%-4.74%Weighted Avg Shares (Diluted)
91.12
113.56
122.27
127.08
125.72
136.41
146.68
126.78
140.15
142.97
135.34
5.53%-5.34%Cash
$271.24
181.59
315.44
366.99
443.29
1244.10
780.20
921.28
914.32
786.80
788.84
16.40%0.26%Short-term Investments
$21.62
100.49
25.11
257.30
373.96
425.12
204.42
250.41
236.12
252.67
254.88
34.83%0.87%Receivables
$20.27
26.43
33.68
12.24
15.39
22.61
27.27
27.89
24.73
26.27
16.54
2.52%-37.04%Prepaid Expenses (Current)
$9.52
15.57
20.38
22.69
38.61
56.15
109.42
80.20
129.88
76.86
104.63
38.63%36.14%Other Assets (Current)
$36.39
46.95
44.66
21.07
49.79
146.81
220.21
233.96
265.39
202.35
239.53
28.19%18.37%Assets (Current)
$359.05
371.03
439.26
680.29
921.04
1894.78
1341.50
1513.74
1570.45
1344.95
1404.42
20.26%4.42%Securities & Long-term Investments
$5.34
5.34
5.34
5.34
94.68
44.44
90.38
34.48
86.68
62.37
84.42
41.67%35.36%Property, Plant & Equipment (Net)
$105.02
126.41
117.62
120.18
112.50
275.06
249.74
249.79
248.35
241.88
11.44%-2.61%Goodwill & Intangibles
$30.62
43.16
42.64
72.07
337.97
328.26
1978.23
673.13
595.52
672.53
582.72
44.91%-13.35%Other Assets
$53.02
35.28
0.72
23.97
188.66
24.52
146.64
163.87
182.97
172.35
184.23
16.75%6.89%Assets (Non-current)
$194.01
210.20
166.32
221.56
621.31
509.71
2490.31
1121.22
1114.95
1155.60
1093.25
24.43%-5.39%Assets (Total)
$553.06
581.19
605.58
901.85
1542.35
2404.49
3831.81
2634.96
2685.40
2500.54
2497.67
21.84%-0.11%Accounts Payable
$45.63
35.16
42.36
75.70
114.67
273.24
356.13
359.99
383.47
259.93
272.65
30.48%4.90%Debt (Current)
$5.61
6.83
5.80
3.88
8.28
8.54
2.42
4.73
6.08
4.71
6.04
1.01%28.26%Other Liabilities (Current)
$28.88
42.02
54.31
32.48
65.58
172.89
257.04
267.03
321.23
234.47
286.43
35.14%22.16%Liabilities (Current)
$80.12
84.01
102.48
112.06
188.53
454.66
615.59
631.75
710.78
499.11
565.12
31.37%13.23%Debt (Non-current)
$
5.30
4.12
278.58
838.74
1107.28
2385.70
2385.34
2383.44
2384.81
2382.99
-0.08%Other Liabilities
$142.44
147.13
102.10
110.31
108.45
100.12
201.90
165.14
134.90
156.81
133.32
-0.68%-14.98%Liabilities (Non-current)
$142.44
152.43
106.21
388.89
947.19
1207.40
2587.60
2550.48
2518.33
2541.62
2516.31
43.20%-1.00%Liabilities (Total)
$222.56
236.44
208.69
500.95
1135.72
1662.07
3203.19
3182.24
3229.11
3040.73
3081.43
39.70%1.34%Retained Earnings
$-86.44
-116.34
-96.29
-153.44
-227.41
-146.82
71.74
-1048.27
-1357.39
-1156.13
-1454.14
-25.78%AOCI
$10.80
18.47
-6.38
-7.81
-8.70
5.95
-75.01
-314.22
-267.47
-297.85
-281.59
5.46%Shareholder's Equity
$330.50
344.76
396.89
400.90
406.63
742.42
628.62
-547.27
-543.72
-540.19
-583.76
-8.07%Liabilities & Equity
$553.06
581.19
605.58
901.85
1542.35
2404.49
3831.81
2634.96
2685.40
2500.54
2497.67
21.84%-0.11%Net Income/Loss
$-54.06
-29.90
81.80
77.49
95.89
349.25
493.51
-694.29
307.57
74.54
63.00
-15.47%Depreciation & Amortization
$18.72
22.71
27.66
27.93
50.04
60.94
77.99
97.35
91.32
23.17
26.85
21.91%15.86%Increase/Decrease in Working Capital
$-9.32
0.51
49.22
-36.93
5.25
-126.40
65.07
14.84
73.79
119.24
90.51
-24.09%Share-based Compensation
$
44.40
65.11
139.91
230.89
284.56
68.68
70.68
2.91%Adjustments to Reconcile Net Income
$83.27
76.66
-14.38
121.43
111.03
329.71
158.04
1377.90
397.94
-18.91
6.03
21.59%131.89%Net Cash (Operating)
$29.21
46.76
67.42
198.93
206.92
678.96
651.55
683.61
705.51
55.63
69.03
48.89%24.09%Capital Expenditure
$20.84
55.63
13.16
56.05
287.65
7.99
1728.14
30.74
39.91
8.21
9.71
8.46%18.36%Net Cash (Investing)
$-23.28
-135.43
61.84
-285.39
-488.37
-11.38
-1557.97
-30.02
-73.31
-36.10
-25.11
30.45%Increase/Decrease in Debt
$-3.38
-6.09
-7.80
338.94
639.17
503.62
947.24
-6.35
-6.37
-1.62
-1.55
4.44%Increase/Decrease in Equity
$195.42
-1.26
17.12
-126.36
-179.10
-253.87
-293.37
-410.73
-564.95
-147.22
-156.09
-6.02%Interest Expenses
$
2.00
7.55
10.00
3.21
3.40
6.05
9.53
9.31
Net Cash (Financing)
$199.61
5.81
3.44
144.01
359.61
119.28
452.75
-506.48
-656.53
-158.55
-163.01
-2.82%Cash Taxes Paid
$7.60
10.56
1.00
0.97
2.08
8.54
94.16
41.68
42.68
24.06%Effect of Exchange Rate
$-3.95
-6.79
1.16
-6.00
-1.85
13.95
-10.23
-6.02
12.03
4.53
-6.40
-241.20%Increase/Decrease in Cash
$201.59
-89.65
133.85
51.54
76.31
800.81
-463.90
141.08
-12.30
-134.48
-125.49
6.69%Cash (Beginning)
$69.66
271.24
181.59
320.78
372.33
448.63
1249.44
785.54
926.62
926.62
914.32
38.19%-1.33%Cash (Ending)
$271.24
181.59
315.44
372.33
448.63
1249.44
785.54
926.62
914.32
792.14
788.84
16.40%-0.42%NOPAT
$-1.37
-46.96
30.16
105.22
105.54
414.11
487.31
-617.10
293.94
71.72
53.86
-24.91%Gross Margin %
64.54%
66.21%
65.78%
68.40%
66.88%
73.07%
71.90%
70.98%
69.85%
69.50%
71.03%
Operating Margin %
-0.69%
4.82%
2.70%
12.39%
10.85%
24.57%
20.00%
-25.66%
10.18%
12.20%
10.54%
NOPAT Margin %
-0.50%
-12.87%
6.84%
17.43%
12.90%
24.00%
20.92%
-24.05%
10.69%
11.19%
8.34%
Net Margin %
-19.77%
-8.19%
18.54%
12.84%
11.72%
20.24%
21.19%
-27.06%
11.19%
11.63%
9.75%
Tax Rate %
27.16%
367.14%
-153.53%
-40.69%
-18.91%
2.33%
-4.63%
6.30%
-5.04%
8.29%
20.90%
ROA
-0.25%
-8.08%
4.98%
11.67%
6.84%
17.22%
12.72%
-23.42%
10.95%
2.87%
2.16%
ROE
-0.42%
-13.62%
7.60%
26.25%
25.96%
55.78%
77.52%
112.76%
-54.06%
-13.28%
-9.23%
ROIC
-1.03%
-24.47%
15.96%
53.79%
32.34%
124.59%
22.79%
-77.71%
40.23%
10.09%
9.06%
Asset Turnover
0.49
0.63
0.73
0.67
0.53
0.72
0.61
0.97
1.02
0.26
0.26
Equity Multiplier
1.67
1.69
1.53
2.25
3.79
3.24
6.10
-4.81
-4.94
-4.63
-4.28
Current Ratio
4.48
4.42
4.29
6.07
4.89
4.17
2.18
2.40
2.21
2.69
2.49
Quick Ratio
3.91
3.67
3.65
5.68
4.42
3.72
1.64
1.90
1.65
2.14
1.88
Debt/Equity Ratio
0.02
0.04
0.02
0.70
2.08
1.50
3.80
-4.37
-4.39
-4.42
-4.09
Interest Coverage Ratio
8.79
1.57
7.48
27.69
124.53
76.93
-69.07
30.04
Working Capital/Sales
-0.01
0.06
0.06
0.01
-0.01
-0.06
-0.05
-0.05
-0.04
-0.33
-0.36
R&D/Sales
0.16
0.15
0.17
0.16
0.15
0.10
0.12
0.16
0.17
0.18
0.17
Total Payout
$-192.04
9.34
-1.77
-202.58
-456.86
-246.35
-647.81
426.61
580.64
148.84
157.64
5.91%Payout Ratio %
-13994.39%
19.90%
-5.86%
-192.54%
-432.87%
-59.49%
-132.94%
69.13%
197.54%
207.53%
292.70%