Etsy (ETSY) Operating Margin (2014 - 2026)
Etsy (ETSY) reported Operating Margin of 18.74% for Q2 2026, up 3.79 percentage points from 14.96% a year earlier but down 0.24 percentage points from the prior quarter.
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Analysis
Etsy (ETSY) Operating Margin (2014 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Etsy's Operating Margin came in at 15.99%, up 3.94 percentage points year-over-year; for FY2025, it came in at 9.23%, down 4.31 percentage points from FY2024.
- Operating Margin has a five-year change of -15.34 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at 13.54% in FY2024 (+3.36 pp), 10.18% in FY2023 (+35.85 pp), -25.66% in FY2022 (-45.66 pp) and 20.00% in FY2021 (-4.58 pp).
- Five-year quarterly Operating Margin spans a low of -160.61% in Q3 2022 and a high of 19.84% in Q4 2021.
- Year over year, Operating Margin gained in four of the last eight quarters, with an average year-over-year change of +1.95 percentage points.
- The high point for year-over-year Operating Margin in five years was Q3 2023 (a gain of 174.53 percentage points); the low point was Q3 2022 (a drop of 176.34 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 18.98% (Q1 2026), 14.68% (Q4 2025) and 12.20% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,122.58 Bn | 3,880.11 Bn | 73.85 Bn | 34.03% |
| 2 | Meta Platforms | 1,753.45 Bn | 1,455.97 Bn | 49.47 Bn | 30.88% |
| 3 | Netflix | 287.23 Bn | 247.43 Bn | 6.52 Bn | 33.38% |
| 4 | Alibaba Group Holding | 252.73 Bn | 66.51 Bn | 15.11 Bn | 5.64% |
| 5 | Shopify | 224.95 Bn | 202.14 Bn | 1.71 Bn | 13.62% |
| 6 | Uber Technologies | 140.36 Bn | 112.16 Bn | 6.38 Bn | 13.32% |
| 7 | Booking Holdings | 125.70 Bn | 58.75 Bn | - | 34.00% |
| 8 | PDD Holdings | 114.00 Bn | -129.78 Bn | 9.45 Bn | 24.71% |
| 9 | Spotify Technology | 107.93 Bn | 65.44 Bn | 1.86 Bn | 13.71% |
| 10 | Etsy | 8.22 Bn | 2.58 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 | 19.84% |
| Sep 30, 2021 | 15.73% |
API Access
Etsy Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=ETSY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "ETSY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=ETSY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();