ETSY Etsy margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 74

Gross margin

72.6%

Operating margin

16.9%

EBITDA margin

40.4%

Net margin

34.4%

Currently, Etsy has a gross margin of 72.6%, an operating margin of 16.9%, an EBITDA margin of 40.4%, and a net margin of 34.4%. The largest positive change was in net margin, up 27.7 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 71.96% gross, 12.84% operating, 17.27% EBITDA, and 10.82% net during the last 3 years. Currently all four current margins are above their three-year averages.

ETSY margin expansion

Year-over-year margin changes in percentage points

The strongest improvement was in net margin, which increased by 27.7 percentage points, and operating margin also expanded by 3.8 percentage points and EBITDA margin also expanded by 26.6 percentage points, whereas gross margin contracted by 0.9 percentage points.

Gross margin expansion

-0.9pp

Operating margin expansion

3.8pp

EBITDA margin expansion

26.6pp

Net margin expansion

27.7pp

ETSY Gross margin

Etsy's gross margin averaged 71.96% across the past 3 years. The current gross margin stands at 72.6%, 0.6 percentage points above its three-year average. Over the last 3 years, Etsy's gross margin peaked at 73.5% in Sep 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 12.84%. Etsy's current operating margin is 16.9% and is 4.1 percentage points above its three-year average. Looking back over the last 3 years, Etsy's operating margin reached 17.3% 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 17.27%. Against its three-year average, Etsy's EBITDA margin is currently 40.4%, 23.1 percentage points above its three-year average. EBITDA margin was highest at 40.4% in Sep 2026 and lowest at 12.7% in Dec 2025.

ETSY Net margin

Across the last 3 years, Etsy's net margin stood at 10.82%. The current net margin stands at 34.4%, 23.6 percentage points above its three-year average. Net margin was highest at 34.4% in Sep 2026 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 72.6%, 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 100% higher.

ETSY margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Etsy's gross margin?

For the period ending Sep 30, 2026, ETSY recorded a gross margin of 72.6%.

What is Etsy's operating margin?

As of Sep 30, 2026, ETSY has an operating margin of 16.9%.

What is Etsy's EBITDA margin?

As of Sep 30, 2026, ETSY has an EBITDA margin of 40.4%.

What is Etsy's net margin?

The current net margin for ETSY is 34.4% as of Sep 30, 2026.

What are the average margins of ETSY?

The three-year average margins for ETSY were 72.0% gross, 12.8% operating, 17.3% EBITDA, and 10.8% net.

What are the highest historical margins of ETSY?

Over this 5-year history, ETSY peaked at 73.5% gross in Sep 2025, 20% operating in Dec 2021, 40.4% EBITDA in Sep 2026, and 34.4% net in Sep 2026.

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.