Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $365M | $441M | $604M | $818M | $1.73B | $2.33B | $2.57B | $2.75B | $2.81B | $2.88B |
| Revenue growth | — | 20.9% | 36.8% | 35.6% | 110.9% | 35.0% | 10.2% | 7.1% | 2.2% | 2.7% |
| Gross profit | $242M | $290M | $413M | $547M | $1.26B | $1.67B | $1.82B | $1.92B | $2.03B | $2.07B |
| Gross margin | 66.2% | 65.8% | 68.4% | 66.9% | 73.1% | 71.9% | 71.0% | 69.8% | 72.4% | 71.6% |
| Operating income | $17.6M | $11.9M | $74.8M | $88.8M | $424M | $466M | -$659M | $280M | $380M | $266M |
| Operating margin | 4.8% | 2.7% | 12.4% | 10.8% | 24.6% | 20.0% | -25.7% | 10.2% | 13.5% | 9.2% |
| Net income | -$29.9M | $81.8M | $77.5M | $95.9M | $349M | $494M | -$694M | $308M | $303M | $163M |
| Net margin | -8.2% | 18.5% | 12.8% | 11.7% | 20.2% | 21.2% | -27.1% | 11.2% | 10.8% | 5.7% |
| EPS (diluted) | -$0.26 | $0.68 | $0.61 | $0.76 | $2.69 | $3.40 | -$5.48 | $2.24 | $2.35 | $1.39 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $48.0M | $69.1M | $199M | $207M | $679M | $652M | $684M | $706M | $752M | $693M |
| Capital expenditures | $36.0M | $3.95M | $1.02M | $7.53M | $1.45M | $11.2M | $10.2M | $12.9M | $14.2M | $15.4M |
| Free cash flow | $12.0M | $65.2M | $198M | $199M | $678M | $640M | $673M | $693M | $738M | $678M |
| Share buybacks | $0.00 | $10.3M | $135M | $177M | $269M | $303M | $426M | $577M | $724M | $777M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $182M | $315M | $367M | $443M | $1.24B | $780M | $921M | $914M | $811M | $1.40B |
| Total assets | $581M | $606M | $902M | $1.54B | $2.40B | $3.83B | $2.63B | $2.69B | $2.42B | $2.83B |
| Total liabilities | $236M | $209M | $501M | $1.14B | $1.66B | $3.20B | $3.18B | $3.23B | $3.18B | $3.93B |
| Long-term debt | — | $0.00 | $276M | $785M | $1.06B | $2.28B | $2.28B | $2.28B | $2.29B | $2.33B |
| Shareholders' equity | $345M | $397M | $401M | $407M | $742M | $629M | -$547M | -$544M | -$759M | -$1.10B |
| Retained earnings | -$116M | -$96.3M | -$153M | -$227M | -$147M | $71.7M | -$1.05B | -$1.36B | -$1.78B | -$2.40B |
| Shares (wtd avg diluted) | 114M | 122M | 127M | 126M | 136M | 147M | 127M | 140M | 132M | 124M |
Every figure is extracted from ETSY INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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