Company / Operating Margin
Etsy Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
9.2%
FY2025
5-year range
-25.7% / 20.0%
FY2021-FY2025
Trend
-31.8%
vs FY2024
Sector context
#90 of 195
Consumer Discretionary
What the data says
At 9.2%, Etsy's operating margin ranks #90 of 195 in the Consumer Discretionary sector. Operating Margin has fluctuated over the past 10 years, ranging from -25.7% in FY2022 to 24.6% in FY2020.
Based on SEC 10-K filings.
9.2% in FY2025 with a 5-year CAGR of -15.3%.
Declined from 10.2% to 9.2% over the past 2 years.
Consumer Discretionary sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +34.9pp
- 5-Year Change
- -15.3pp
- 10-Year Change
- -
Sector benchmark
#90 of 195 in Consumer DiscretionaryTop 46% of 195This company 9.2% Sector average 3.6%
▼
+157.4% above sector average
Key checks
Key Insights
- In FY2025, operating margin decreased 31.8% year-over-year.
- Currently 5.6pp above the Consumer Discretionary sector average.
- Peak operating margin was recorded in FY2020.
- Lowest operating margin in the period was in FY2022.
Company context
Key Data Points
- Altman Z-Score 0.62 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 9.2% | -31.8% |
| FY2024 | 13.5% | +33.0% |
| FY2023 | 10.2% | +139.7% |
| FY2022 | -25.7% | -228.3% |
| FY2021 | 20.0% | -18.6% |
| FY2020 | 24.6% | +126.5% |
| FY2019 | 10.8% | -12.4% |
| FY2018 | 12.4% | +358.9% |
| FY2017 | 2.7% | +184.4% |
| FY2016 | -3.2% | -642.4% |
As of FY2025 · SEC 10-K · Updated Jul 2, 2026