Etsy, Inc.

XTRA:3E2 Stock Report

Market Cap: €6.0b

Etsy Valuation

Is 3E2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 3E2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3E2 (€53.66) is trading below our estimate of fair value (€159.09)

Significantly Below Fair Value: 3E2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3E2?

Key metric: As 3E2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3E2. This is calculated by dividing 3E2's market cap by their current earnings.
What is 3E2's PE Ratio?
PE Ratio24.2x
EarningsUS$256.64m
Market CapUS$6.20b

Price to Earnings Ratio vs Peers

How does 3E2's PE Ratio compare to its peers?

The above table shows the PE ratio for 3E2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average48.2x
ECK LUDWIG BECK am Rathauseck - Textilhaus Feldmeier
100.9xn/a€53.6m
ZAL Zalando
41.3x21.8%€8.4b
FIE Fielmann Group
24.4x18.9%€3.4b
HBM HORNBACH Baumarkt
26xn/a€1.9b
3E2 Etsy
24.2x11.5%€6.2b

Price-To-Earnings vs Peers: 3E2 is good value based on its Price-To-Earnings Ratio (24.2x) compared to the peer average (48.2x).

Price to Earnings Ratio vs Industry

How does 3E2's PE Ratio compare vs other companies in the Global Multiline Retail Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
3E2 24.2xIndustry Avg. 22.1xNo. of Companies23PE01632486480+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 3E2 is expensive based on its Price-To-Earnings Ratio (24.2x) compared to the Global Multiline Retail industry average (22.1x).

Price to Earnings Ratio vs Fair Ratio

What is 3E2'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.

3E2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.2x
Fair PE Ratio15x

Price-To-Earnings vs Fair Ratio: 3E2 is expensive based on its Price-To-Earnings Ratio (24.2x) compared to the estimated Fair Price-To-Earnings Ratio (15x).

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 3E2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€53.66
€59.90
+11.6%
25.8%€100.89€42.28n/a27
Dec ’25€52.08
€59.68
+14.6%
25.9%€100.83€42.25n/a27
Nov ’25€48.46
€57.34
+18.3%
26.3%€96.54€40.45n/a27
Oct ’25€48.10
€61.10
+27.0%
22.9%€94.75€40.61n/a27
Sep ’25€49.76
€61.11
+22.8%
22.6%€93.88€40.23n/a26
Aug ’25€59.40
€65.07
+9.5%
22.0%€97.30€41.70n/a26
Jul ’25€53.56
€65.85
+22.9%
21.4%€98.02€42.01n/a27
Jun ’25€57.28
€66.00
+15.2%
20.6%€97.62€41.84n/a28
May ’25€64.80
€75.22
+16.1%
24.2%€130.94€46.77n/a29
Apr ’25€64.03
€76.50
+19.5%
22.6%€128.81€46.01n/a30
Mar ’25€65.32
€77.32
+18.4%
22.4%€129.19€46.14n/a31
Feb ’25€62.98
€77.68
+23.3%
25.0%€133.78€43.36n/a30
Jan ’25€73.96
€76.37
+3.3%
25.8%€132.10€42.82n/a30
Dec ’24€72.36
€70.53
-2.5%
26.9%€133.23€43.18€52.0830
Nov ’24€57.68
€87.31
+51.4%
33.7%€158.98€43.53€48.4630
Oct ’24€60.15
€102.40
+70.2%
28.3%€161.82€43.79€48.1028
Sep ’24€69.72
€102.52
+47.0%
26.0%€156.49€42.34€49.7627
Aug ’24€91.59
€105.44
+15.1%
27.3%€168.72€41.73€59.4027
Jul ’24€78.06
€109.14
+39.8%
26.6%€170.45€42.15€53.5627
Jun ’24€75.43
€115.36
+52.9%
25.2%€173.39€42.88€57.2826
May ’24€90.47
€119.63
+32.2%
24.0%€169.54€41.93€64.8026
Apr ’24€102.46
€128.41
+25.3%
22.3%€172.87€43.68€64.0325
Mar ’24€109.08
€133.92
+22.8%
20.5%€176.31€44.55€65.3225
Feb ’24€123.78
€120.63
-2.5%
23.0%€169.32€42.78€62.9825
Jan ’24€113.52
€117.57
+3.6%
24.7%€175.23€44.28€73.9624
Dec ’23€130.98
€113.34
-13.5%
24.1%€176.70€44.65€72.3623

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 Analysis2024/12/26 00:29
End of Day Share Price 2024/12/23 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

Etsy, Inc. is covered by 58 analysts. 31 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Richard KramerArete Research Services LLP
Sanaya KnowleArete Research Services LLP
Rocco StraussArete Research Services LLP