{ "ok": true, "cik": "1370637", "ticker": "ETSY", "name": "ETSY, INC", "filings": [ { "form": "10-Q", "filed": "2026-08-05", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063726000080/0001370637-26-000080-index.htm" }, { "form": "8-K", "filed": "2026-08-05", "items": [ "2.02 Results of Operations and Financial Condition", "2.05 Costs Associated with Exit or Disposal Activities", "7.01 Regulation FD Disclosure", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063726000079/0001370637-26-000079-index.htm" }, { "form": "8-K", "filed": "2026-07-30", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.01 Completion of Acquisition or Disposition of Assets", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063726000071/0001370637-26-000071-index.htm" }, { "form": "8-K", "filed": "2026-07-16", "items": [ "1.01 Entry into a Material Definitive Agreement", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063726000066/0001370637-26-000066-index.htm" }, { "form": "8-K", "filed": "2026-06-12", "items": [ "5.07 Submission of Matters to a Vote of Security Holders", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063726000058/0001370637-26-000058-index.htm" }, { "form": "8-K", "filed": "2026-05-28", "items": [ "1.01 Entry into a Material Definitive Agreement", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063726000054/0001370637-26-000054-index.htm" } ], "events12m": 12, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "3.01", "label": "Exchange listing notice or transfer", "count": 1, "latest": { "filed": "2025-09-29", "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063725000077/0001370637-25-000077-index.htm" } }, { "code": "2.05", "label": "Restructuring or exit costs", "count": 1, "latest": { "filed": "2026-08-05", "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063726000079/0001370637-26-000079-index.htm" } }, { "code": "5.02", "label": "Director or officer change", "count": 1, "latest": { "filed": "2025-10-29", "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063725000097/0001370637-25-000097-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001370637.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1370637" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up ETSY, INC ($ETSY). Last filing: 10-Q, 2026-08-05. 12 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 2883501000, "revenueGrowth1y": 0.02676642220364256, "revenueGrowthPerYear": 0.054829677514894426, "yearsOfData": 5, "operatingMargin": 0.09232179909075808, "operatingMarginPrior": 0.13538570226027408, "netMargin": 0.05652226234705658, "operatingCashFlow": 693414000, "capitalSpending": 15386000, "freeCashFlow": 678028000, "researchAndDevelopment": 450192000, "researchShareOfRevenue": 0.15612687493432462, "cash": 1395836000, "longTermDebt": 2333230000, "longTermDebtChange": 0.019731364640181326, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 2329114000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 2566111000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 2748377000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 2808332000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 2883501000 } ], "totalEquity": -1098095000, "totalAssets": 2827254000, "equityRatio": -0.38839630256071794, "returnOnEquity": null, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 1.59, "sharesOutstanding": 124114000, "bookValuePerShare": -8.847470873551735, "revenuePerShare": 23.232681244662164, "range80": { "low": 2656055209.653246, "high": 3190128645.3222146, "baseline": 2979237575.7671466, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.03589289863411137, "classVolatility": 0.07701947805587882, "volatility": 0.06008452451488067 }, "ifPaceHeld": { "low": 2656055209.653246, "high": 3190128645.3222146 } }, "edgarette": "🔖 Exposure: revenue $2.9B (FY2025), total debt $2.3B. Experience: revenue up 2.7% on the year, up 5.5% a year over 4 years; operating margin 9.2%, down from 13.5%. Soundness: equity -38.8% of assets (liabilities exceed assets). Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $2.7B and $3.2B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $2.5B to $3.4B. A statistical range, not company guidance. Against peers (70 filers, $50M+ revenue, services-business services, nec): operating margin 9.2% against a 7.9% median; growth 2.7% against 10.2%.", "peers": { "sic": 7389, "sicDescription": "Services-Business Services, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7389", "growth": [ 0.1016, 72 ], "opMargin": [ 0.0788, 70 ], "equityRatio": [ 0.3958, 67 ], "returnOnEquity": [ 0.0932, 57 ], "payoutRatio": [ 0.2935, 14 ] }, "summary": "Etsy (ETSY) grew revenue 2.7% in FY2025 to $2.9 billion, operating margin 9.2% against a 7.9% median for services-business services, nec, equity -38.8% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
ETSY, INC against its own record and its peers
Operating marginPeer median 7.9%9.2%Revenue, on the yearPeer median 10.2%2.7%Equity of assetsPeer median 39.6%-38.8%Gold tick: the median of 67–67 peers with $50M+ revenue in services-business services, nec
", "chartHorizon": null, "backtest": { "tests": 9, "hits": 5, "rate": 0.5555555555555556, "method": "v4", "byYear": { "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 0, 1 ], "2022": [ 0, 1 ], "2023": [ 0, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T23:01:28.221Z", "hash": "c11af95b130c7c98", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Etsy (ETSY) grew revenue 2.7% in FY2025 to $2.9 billion, operating margin 9.2% against a 7.9% median for services-business services, nec, equity -38.8% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 2883501000, "totalDebt": 2333230000, "cash": 1395836000 }, "experience": { "revenueGrowth1y": 0.02676642220364256, "revenueGrowthPerYear": 0.054829677514894426, "operatingMargin": 0.09232179909075808, "operatingMarginPrior": 0.13538570226027408, "netMargin": 0.05652226234705658, "freeCashFlow": 678028000 }, "soundness": { "equityRatio": -0.38839630256071794, "returnOnEquity": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 7389, "sicDescription": "Services-Business Services, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7389", "growth": [ 0.1016, 72 ], "opMargin": [ 0.0788, 70 ], "equityRatio": [ 0.3958, 67 ], "returnOnEquity": [ 0.0932, 57 ], "payoutRatio": [ 0.2935, 14 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "3.01", "label": "Exchange listing notice or transfer", "count": 1, "latest": { "filed": "2025-09-29", "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063725000077/0001370637-25-000077-index.htm" } }, { "code": "2.05", "label": "Restructuring or exit costs", "count": 1, "latest": { "filed": "2026-08-05", "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063726000079/0001370637-26-000079-index.htm" } }, { "code": "5.02", "label": "Director or officer change", "count": 1, "latest": { "filed": "2025-10-29", "url": "https://www.sec.gov/Archives/edgar/data/1370637/000137063725000097/0001370637-25-000097-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 2656055209.653246, "high": 3190128645.3222146, "baseline": 2979237575.7671466, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.03589289863411137, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.06008452451488067, "k": 3 }, "stress": { "low": 2484145753.722055, "high": 3411114386.1381173, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 9, "hits": 5, "rate": 0.5555555555555556, "method": "v4", "byYear": { "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 0, 1 ], "2022": [ 0, 1 ], "2023": [ 0, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T23:01:28.221Z", "hash": "c11af95b130c7c98", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001370637.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1370637" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.2405, "growth3y": 0.0396, "volatility": 0.0359, "paysDividend": false, "raisedDividend": false, "equityRatio": -0.3884, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "between", "inside": "Turns 24.1% of revenue into operating cash; revenue growing 4.0% a year over three years; no common dividend; liabilities exceed assets.", "outside": "Among $1B-10B companies: 73rd percentile for cash, 46th for growth.", "emoji": "🌊", "label": "In between", "plain": "no clear cash pattern yet" }, "band": "$1B-10B", "cashPctInClass": 73, "growthPctInClass": 46, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "warning", "text": "filed restructuring or exit costs in the last 12 months" }, { "key": "balance", "text": "liabilities exceed assets (often from years of share buybacks, not always distress)" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 2, "name": "Weathered boat", "plain": "two warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 693414000, "investing": 32081000, "financing": -169875000, "capitalSpending": 15386000, "free": 678028000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 651551000, "free": 640303000 }, { "fiscalYearEnd": "2022-12-31", "operating": 683612000, "free": 673375000 }, { "fiscalYearEnd": "2023-12-31", "operating": 705513000, "free": 692563000 }, { "fiscalYearEnd": "2024-12-31", "operating": 752469000, "free": 738261000 }, { "fiscalYearEnd": "2025-12-31", "operating": 693414000, "free": 678028000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 1395836000, "shortTerm": 224088000, "longTerm": 134376000, "equityHoldings": null, "totalAssets": 2827254000, "ladder": null, "currentRatio": 1.44, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.2405, "growth3y": 0.0396, "volatility": 0.0359, "paysDividend": false, "raisedDividend": false, "equityRatio": -0.3884, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "between", "inside": "Turns 24.1% of revenue into operating cash; revenue growing 4.0% a year over three years; no common dividend; liabilities exceed assets.", "outside": "Among $1B-10B companies: 73rd percentile for cash, 46th for growth.", "emoji": "🌊", "label": "In between", "plain": "no clear cash pattern yet" }, "band": "$1B-10B", "cashPctInClass": 73, "growthPctInClass": 46, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "warning", "text": "filed restructuring or exit costs in the last 12 months" }, { "key": "balance", "text": "liabilities exceed assets (often from years of share buybacks, not always distress)" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 2, "name": "Weathered boat", "plain": "two warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 693414000, "investing": 32081000, "financing": -169875000, "capitalSpending": 15386000, "free": 678028000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 651551000, "free": 640303000 }, { "fiscalYearEnd": "2022-12-31", "operating": 683612000, "free": 673375000 }, { "fiscalYearEnd": "2023-12-31", "operating": 705513000, "free": 692563000 }, { "fiscalYearEnd": "2024-12-31", "operating": 752469000, "free": 738261000 }, { "fiscalYearEnd": "2025-12-31", "operating": 693414000, "free": 678028000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 1395836000, "shortTerm": 224088000, "longTerm": 134376000, "equityHoldings": null, "totalAssets": 2827254000, "ladder": null, "currentRatio": 1.44, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }