# ETSY, INC (ETSY) · Edgar & Edgarette company card

> Etsy (ETSY) grew revenue 2.7% in FY2025 to $2.9 billion, operating margin 9.2% against a 7.9% median for business services, equity -38.8% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1370637 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/ETSY) · [JSON](https://www.pops4.com/boards/company/ETSY.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $2.9B |
| Revenue growth, 1 year | 2.7% |
| Revenue growth per year | 5.5% |
| Operating margin | 9.2% (prior year 13.5%) |
| Net margin | 5.7% |
| Operating cash flow | $693M |
| Capital spending | $15M |
| Free cash flow | $678M |
| Cash | $1.4B |
| Long-term debt | $2.3B |
| Total assets | $2.8B |
| Total equity | −$1.1B |
| Equity ÷ assets | -38.8% |
| Return on equity | — |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -1.05 (distress zone)
- Piotroski F: 5 of 9 (middling)
- Health Harbor boat: Weathered boat · two warning signs · filed restructuring or exit costs in the last 12 months; liabilities exceed assets (often from years of share buybacks, not always distress)
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

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; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). 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%.

Range logged 2026-09-27, receipt c11af95b130c7c98, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 2.05 Restructuring or exit costs: 1, latest 2026-08-05 ([filing](https://www.sec.gov/Archives/edgar/data/1370637/000137063726000079/0001370637-26-000079-index.htm))
- Item 5.02 Director or officer change: 1, latest 2026-10-28 ([filing](https://www.sec.gov/Archives/edgar/data/1370637/000137063726000090/0001370637-26-000090-index.htm))

## Recent filings

- 10-Q · filed 2026-10-28 · [filing](https://www.sec.gov/Archives/edgar/data/1370637/000137063726000092/0001370637-26-000092-index.htm)
- 8-K · filed 2026-10-28 · 2.02 Results of Operations and Financial Condition; 5.02 Departure or Election of Directors; Appointment of Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1370637/000137063726000090/0001370637-26-000090-index.htm)
- 10-Q · filed 2026-08-05 · [filing](https://www.sec.gov/Archives/edgar/data/1370637/000137063726000080/0001370637-26-000080-index.htm)
- 8-K · filed 2026-08-05 · 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 · [filing](https://www.sec.gov/Archives/edgar/data/1370637/000137063726000079/0001370637-26-000079-index.htm)
- 8-K · filed 2026-07-30 · 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 · [filing](https://www.sec.gov/Archives/edgar/data/1370637/000137063726000071/0001370637-26-000071-index.htm)
- 8-K · filed 2026-07-16 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1370637/000137063726000066/0001370637-26-000066-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001370637.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1370637

## Cite

POPS4, Edgar & Edgarette: ETSY, INC (ETSY) company card, from the company's own SEC filings, accessed 2026-11-12, https://www.pops4.com/boards/company/ETSY. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

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.