Etsy, Inc.

WBAG:ETSY Stock Report

Market Cap: €4.1b

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.

Discounted Cash Flow
Simply Wall St
€137.66
Fair Value
70.6% undervalued intrinsic discount
29
Number of Analysts

Below Fair Value: ETSY (€40.46) is trading below our estimate of fair value (€137.66)

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 Ratio25x
EarningsUS$188.18m
Market CapUS$4.62b

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 Average12.8x
BME B&M European Value Retail
10.4x5.3%UK£3.4b
3099 Isetan Mitsukoshi Holdings
9.5x-2.1%JP¥675.8b
CRC Central Retail Corporation
16x11.0%฿130.3b
HVN Harvey Norman Holdings
15.3x3.7%AU$6.6b
ETSY Etsy
25x20.5%€4.6b

Price-To-Earnings vs Peers: ETSY is expensive based on its Price-To-Earnings Ratio (25x) compared to the peer average (13.1x).

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 25.0xIndustry Avg. 19.5xNo. of Companies26PE01632486480+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ETSY is expensive based on its Price-To-Earnings Ratio (25x) compared to the Global Multiline Retail industry average (19.4x).

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 Ratio25x
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€40.46
€45.70
+13.0%
29.3%€81.88€27.46n/a29
Apr ’26€44.53
€54.03
+21.3%
24.1%€85.69€37.08n/a29
Mar ’26€48.94
€56.65
+15.8%
23.8%€88.82€38.57n/a28
Feb ’26€54.03
€60.37
+11.7%
27.0%€100.84€42.26n/a28
Jan ’26€50.14
€60.02
+19.7%
25.3%€100.89€42.28n/a28
Dec ’25€52.23
€59.81
+14.5%
25.4%€100.83€42.25n/a28
Nov ’25€48.34
€57.46
+18.9%
25.8%€96.54€40.45n/a28
Oct ’25€48.05
€60.75
+26.4%
22.5%€94.30€40.41n/a28
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€46.77€37.7629
Apr ’25€64.14
€76.50
+19.3%
22.6%€128.81€46.01€44.5330
Mar ’25€65.52
€77.32
+18.0%
22.4%€129.19€46.14€48.9431
Feb ’25€66.18
€77.46
+17.1%
25.0%€133.40€43.24€54.0330
Jan ’25€74.01
€76.37
+3.2%
25.8%€132.10€42.82€50.1430
Dec ’24€72.16
€70.53
-2.3%
26.9%€133.23€43.18€52.2330
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
AnalystConsensusTarget
Consensus Narrative from 29 Analysts
€46.31
Fair Value
12.6% undervalued intrinsic discount
29
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/05 15:48
End of Day Share Price 2025/05/05 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Etsy, Inc. is covered by 57 analysts. 32 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Oliver LesterArete Research Services LLP
Richard KramerArete Research Services LLP
Ishan MajumdarBaptista Research