ETSY Etsy margins

Relative Growth: Rel. Growth: 32

Relative Strength: Rel. Strength: 68

Relative Valuation: Rel. Valuation: 49

Relative Profitability: Rel. Profitability: 54

Gross margin

72.3%

Operating margin

16%

EBITDA margin

13.8%

Net margin

7.3%

Currently, Etsy has a gross margin of 72.3%, an operating margin of 16%, an EBITDA margin of 13.8%, and a net margin of 7.3%. The largest positive change was in operating margin, up 3.9 percentage points. The largest negative change was in gross margin, down 0.9 percentage points.

ETSY margin history

Gross, operating, EBITDA and net margin trends

Etsy's margins averaged 71.76% gross, 12.12% operating, 15.2% EBITDA, and 8.63% net during the last 3 years. Etsy's current metrics show that gross and operating margins are above their three-year averages and EBITDA and net margins are below their three-year averages.

ETSY margin expansion

Year-over-year margin changes in percentage points

The strongest improvement was in operating margin, which increased by 3.9 percentage points, and EBITDA margin also expanded by 0.4 percentage points and net margin also expanded by 1.3 percentage points, whereas gross margin contracted by 0.9 percentage points.

Gross margin expansion

-0.9pp

Operating margin expansion

3.9pp

EBITDA margin expansion

0.4pp

Net margin expansion

1.3pp

ETSY Gross margin

Etsy's gross margin averaged 71.76% across the past 3 years. The current gross margin stands at 72.3%, 0.5 percentage points above its three-year average. Over the last 3 years, Etsy's gross margin peaked at 73.2% in Jun 2025 and reached a low of 69.8% in Dec 2023.

ETSY Operating margin

Across the last 3 years, Etsy had an average operating margin of 12.12%. Etsy's current operating margin is 16% and is 3.9 percentage points above its three-year average. Looking back over the last 3 years, Etsy's operating margin reached 16% at its highest point in Jun 2026 and 9.2% at its lowest in Dec 2025.

ETSY EBITDA margin

Across the last 3 years, Etsy's EBITDA margin stood at 15.2%. Against its three-year average, Etsy's EBITDA margin is currently 13.8%, 1.4 percentage points below its three-year average. EBITDA margin was highest at 19% in Dec 2024 and lowest at 12.7% in Dec 2025.

ETSY Net margin

Across the last 3 years, Etsy's net margin stood at 8.63%. The current net margin stands at 7.3%, 1.3 percentage points below its three-year average. Net margin was highest at 11.2% in Dec 2023 and lowest at 5.7% in Dec 2025.

ETSY margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 72.3%, ETSY stands above the Consumer Cyclical sector, the industry and its peers average. Looking at its Consumer Cyclical sector average of 36.3%, Etsy's gross margin is 99% higher.

ETSY margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Etsy's gross margin?

For the period ending Jun 30, 2026, ETSY recorded a gross margin of 72.3%.

What is Etsy's operating margin?

As of Jun 30, 2026, ETSY has an operating margin of 16%.

What is Etsy's EBITDA margin?

As of Jun 30, 2026, ETSY has an EBITDA margin of 13.8%.

What is Etsy's net margin?

The current net margin for ETSY is 7.3% as of Jun 30, 2026.

What are the average margins of ETSY?

The three-year average margins for ETSY were 71.8% gross, 12.1% operating, 15.2% EBITDA, and 8.6% net.

What are the highest historical margins of ETSY?

Over this 5-year history, ETSY peaked at 73.2% gross in Jun 2025, 20% operating in Dec 2021, 23.9% EBITDA in Dec 2021, and 21.2% net in Dec 2021.

What are the lowest historical margins of ETSY?

Within the 5-year period, ETSY recorded its lowest margins at 69.8% gross in Dec 2023, -27.7% operating in Jun 2023, -23.5% EBITDA in Jun 2023, and -27.1% net in Dec 2022.