Etsy (ETSY) Operating Margin (2014 - 2026)
Etsy's (ETSY) quarterly Operating Margin came in at 18.98% in Q1 2026, up 1962.0% YoY from 0.92% in Q1 2025, and up 29.35% on a QoQ basis from 14.68% in Q4 2025.
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Etsy (ETSY) Operating Margin (2014 - 2026) Analysis & Trends
Etsy (ETSY) has 13 years of Operating Margin data on file, last reported at 18.98% in Q1 2026.
- Quarterly Operating Margin rose 1962.0% year-over-year to 18.98% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 14.26% (up 315.0% YoY) and the FY2025 annual result came in at 9.23%, down 431.0% from the prior year.
- Operating Margin improved to 18.98% in Q1 2026, from 14.68% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 18.98% in Q1 2026 to a low of 160.61% in Q3 2022.
- A 5-year average of 1.9% and a median of 12.4% in 2022 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin tumbled 37034 bps — and 2023, when it jumped 17453 bps.
- Tracing ETSY's Operating Margin over 5 years: stood at 17.26% in 2022, then fell by 21 bps to 13.71% in 2023, then surged by 33 bps to 18.2% in 2024, then dropped by 19 bps to 14.68% in 2025, then climbed by 29 bps to 18.98% in 2026.
- The last three Operating Margin figures came in at 18.98% (Q1 2026), 14.68% (Q4 2025), and 12.2% (Q3 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,735.27 Bn | 2,612.28 Bn | 198.88 Bn | 13.43% |
| 2 | PDD Holdings | 116.19 Bn | -48,010.22 Bn | 9.45 Bn | 24.71% |
| 3 | DoorDash | 98.67 Bn | 93.32 Bn | 2.35 Bn | 3.50% |
| 4 | Mercadolibre | 98.66 Bn | 83.46 Bn | 4.16 Bn | 6.72% |
| 5 | Sea | 67.43 Bn | 59.03 Bn | 3.55 Bn | 82.81% |
| 6 | Ebay | 46.79 Bn | 43.48 Bn | 2.30 Bn | 21.57% |
| 7 | JD.com | 39.63 Bn | 7.08 Bn | 16.50 Bn | 1.26% |
| 8 | Coupang | 28.43 Bn | 22.32 Bn | 2.49 Bn | -6.28% |
| 9 | Wayfair | 12.38 Bn | 11.24 Bn | 1.05 Bn | 2.96% |
| 10 | Etsy | 7.73 Bn | 6.61 Bn | 484.05 Mn | 18.74% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 18.74% |
| Mar 31, 2026 | 18.98% |
| Dec 31, 2025 | 14.68% |
| Sep 30, 2025 | 12.20% |
| Jun 30, 2025 | 14.96% |
| Mar 31, 2025 | -0.63% |
| Dec 31, 2024 | 18.20% |
| Sep 30, 2024 | 13.11% |
| Jun 30, 2024 | 10.83% |
| Mar 31, 2024 | 10.54% |
| Dec 31, 2023 | 13.71% |
| Sep 30, 2023 | 13.92% |
| Jun 30, 2023 | -0.38% |
| Mar 31, 2023 | 12.20% |
| Dec 31, 2022 | 17.26% |
| Sep 30, 2022 | -160.61% |
| Jun 30, 2022 | 12.40% |
| Mar 31, 2022 | 14.56% |
| Dec 31, 2021 | 387.60% |
| Sep 30, 2021 | 15.73% |