Etsy, Inc.

WBAG:ETSY Stock Report

Market Cap: €5.6b

Etsy Valuation

Is ETSY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ETSY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ETSY (€53.58) is trading below our estimate of fair value (€164.97)

Significantly Below Fair Value: ETSY is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ETSY?

Key metric: As ETSY is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ETSY. This is calculated by dividing ETSY's market cap by their current earnings.
What is ETSY's PE Ratio?
PE Ratio22.9x
EarningsUS$256.64m
Market CapUS$5.88b

Price to Earnings Ratio vs Peers

How does ETSY's PE Ratio compare to its peers?

The above table shows the PE ratio for ETSY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21x
OLLI Ollie's Bargain Outlet Holdings
28.5x8.3%US$5.8b
CRC Central Retail Corporation
23.2x11.1%฿211.1b
CTC.A Canadian Tire Corporation
12.9x3.8%CA$8.6b
7453 Ryohin Keikaku
19.3x3.8%JP¥803.7b
ETSY Etsy
22.9x11.6%€5.9b

Price-To-Earnings vs Peers: ETSY is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the peer average (21x).

Price to Earnings Ratio vs Industry

How does ETSY's PE Ratio compare vs other companies in the Global Multiline Retail Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ETSY 22.9xIndustry Avg. 19.8xNo. of Companies19PE01632486480+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ETSY is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the Global Multiline Retail industry average (19.8x).

Price to Earnings Ratio vs Fair Ratio

What is ETSY's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ETSY PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ETSY's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ETSY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€53.58
€59.68
+11.4%
25.9%€100.83€42.25n/a27
Nov ’25€48.34
€57.34
+18.6%
26.3%€96.54€40.45n/a27
Oct ’25€48.05
€61.10
+27.2%
22.9%€94.75€40.61n/a27
Sep ’25€49.73
€61.11
+22.9%
22.6%€93.88€40.23n/a26
Aug ’25€55.74
€65.07
+16.7%
22.0%€97.30€41.70n/a26
Jul ’25€53.55
€65.85
+23.0%
21.4%€98.02€42.01n/a27
Jun ’25€57.13
€66.00
+15.5%
20.6%€97.62€41.84n/a28
May ’25€64.57
€75.22
+16.5%
24.2%€130.94€46.77n/a29
Apr ’25€64.14
€76.50
+19.3%
22.6%€128.81€46.01n/a30
Mar ’25€65.52
€77.32
+18.0%
22.4%€129.19€46.14n/a31
Feb ’25€66.18
€77.68
+17.4%
25.0%€133.78€43.36n/a30
Jan ’25€74.01
€76.37
+3.2%
25.8%€132.10€42.82n/a30
Dec ’24€72.16
€70.53
-2.3%
26.9%€133.23€43.18n/a30
Nov ’24€57.82
€87.31
+51.0%
33.7%€158.98€43.53€48.3430
Oct ’24€61.99
€102.40
+65.2%
28.3%€161.82€43.79€48.0528
Sep ’24€69.51
€102.52
+47.5%
26.0%€156.49€42.34€49.7327
Aug ’24€91.33
€105.44
+15.5%
27.3%€168.72€41.73€55.7427
Jul ’24€78.14
€109.14
+39.7%
26.6%€170.45€42.15€53.5527
Jun ’24€75.44
€115.36
+52.9%
25.2%€173.39€42.88€57.1326
May ’24€90.55
€119.63
+32.1%
24.0%€169.54€41.93€64.5726
Apr ’24€102.14
€128.41
+25.7%
22.3%€172.87€43.68€64.1425
Mar ’24€109.34
€133.92
+22.5%
20.5%€176.31€44.55€65.5225
Feb ’24€123.80
€120.63
-2.6%
23.0%€169.32€42.78€66.1825
Jan ’24€113.94
€117.57
+3.2%
24.7%€175.23€44.28€74.0124
Dec ’23€130.70
€113.34
-13.3%
24.1%€176.70€44.65€72.1623
Nov ’23€93.49
€121.86
+30.3%
25.7%€188.27€51.62€57.8223

Analyst Forecast: Target price is less than 20% higher than the current share price.

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