ETSY FINANCIAL STATEMENTS

Etsy, Inc. — balance sheet, income statement and cash flow trends

ETSYEtsy, Inc.

🇺🇸 USA · NYSE · Consumer Cyclical · Internet Retail

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue2.9 B $+3.2%

Gross Profit2.1 B $+2.1%

Operating Income408.4 M $-0.4%

EBITDA524.3 M $+19.3%

Net Income284.8 M $+51.3%

Peer Comparison· Internet Retail

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ETSY	3.2%	72.0%	18.3%	9.9%
PAH3	—	82.5%	92.2%	96.8%
TLC	-3.3%	74.6%	19.8%	9.7%
RNO	3.0%	19.1%	-10.1%	-18.9%
CCL-B	4.3%	29.9%	21.2%	10.4%
CTC-A	1.7%	32.9%	12.4%	3.6%
Industry median	11.8%	50.7%	11.9%	6.3%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ETSY	3.2%	72.0%	18.3%	9.9%
CHWY	5.4%	29.7%	2.9%	1.6%
CART	11.8%	73.0%	18.3%	12.6%
W	6.8%	30.1%	1.0%	-2.4%
CPNG	13.1%	28.8%	2.1%	-0.5%
EBAY	12.5%	72.0%	24.6%	17.6%
Industry median	11.8%	50.7%	11.9%	6.3%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Current Liabilities1.3 B $33%
Long-term Liabilities2.6 B $67%

Key Figures

YoY change

Total Assets2.7 B $+26.4%

Total Liabilities3.8 B $+26.0%

Total Equity-1.1 B $—

Cash & ST Investments1.4 B $+64.3%

Total Debt3.1 B $+28.8%

Net Debt1.9 B $+7.1%

Peer Comparison· Internet Retail

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ETSY	1.69	-270.5%	3.15	-42.4%
PAH3	15.30	—	—	84.2%
TLC	0.67	761.1%	2.69	7.6%
RNO	1.03	331.6%	-8.52	17.2%
CCL-B	1.39	42.3%	0.84	54.0%
CTC-A	1.74	133.6%	3.57	26.7%
Industry median	1.43	32.5%	-0.26	34.5%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ETSY	1.69	-270.5%	3.15	-42.4%
CHWY	0.78	114.1%	-0.10	12.8%
CART	2.36	1.3%	-1.08	73.4%
W	0.76	-127.9%	20.10	-99.0%
CPNG	0.97	123.1%	-1.98	22.6%
EBAY	1.22	163.2%	1.17	24.7%
Industry median	1.43	32.5%	-0.26	34.5%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow725 M $-1.0%

Capital Expenditures52.3 M $+13.8%

Free Cash Flow672.6 M $-2.0%

Dividends Paid——

Peer Comparison· Internet Retail

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ETSY	25.3%	23.5%	1.8%	254.6%
PAH3	24.4%	17.9%	6.4%	25.2%
TLC	16.4%	14.0%	2.4%	170.0%
RNO	4.0%	-1.2%	5.3%	-21.4%
CCL-B	16.7%	11.2%	5.5%	161.0%
CTC-A	7.9%	4.4%	3.5%	215.5%
Industry median	16.4%	8.2%	1.8%	105.0%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ETSY	25.3%	23.5%	1.8%	254.6%
CHWY	5.6%	4.6%	1.0%	357.6%
CART	24.4%	22.8%	1.5%	194.0%
W	4.6%	3.6%	1.0%	-189.5%
CPNG	4.6%	0.9%	3.7%	-981.0%
EBAY	18.5%	14.5%	3.9%	105.0%
Industry median	16.4%	8.2%	1.8%	105.0%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.