Question 1

What is Etsy's P/B ratio?

Accepted Answer

Etsy (ETSY) P/B ratio is 21.9× as of November 2, 2022. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Etsy?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Etsy specifically, the relevant sector benchmark is the current sector median of 4.3×.

Question 5

Is Etsy's P/B ratio high or low?

Accepted Answer

Etsy's P/B ratio of 21.9× is below its own 5-year average of 37.5× and above the sector median of 4.3×. That places the current reading at the 18th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Etsy's historical P/B ratio range?

Accepted Answer

In the available daily series, Etsy (ETSY) P/B ratio has ranged from a low of 2.8× in 2015 to a high of 82.0× in 2021. The 5-year average is 37.5× and the 5-year median is 44.3×.

Question 7

What was Etsy's P/B ratio in 2021?

Accepted Answer

Etsy (ETSY) P/B ratio at the end of 2021 was 44.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Etsy's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$5.44B	-$1.1B	—	—	Dec 31, 2025
2024	$6.08B	-$759M	—	—	Dec 31, 2024
2023	$9.69B	-$544M	—	—	Dec 31, 2023
2022	$15.1B	-$547M	—	—	Dec 31, 2022
2021	$27.8B	$629M	44.3×	+14.1×	Dec 31, 2021
2020	$22.4B	$742M	30.2×	+17.3×	Dec 31, 2020
2019	$5.25B	$407M	12.9×	-1.4×	Dec 31, 2019
2018	$5.72B	$401M	14.3×	+8.0×	Dec 31, 2018
2017	$2.49B	$397M	6.3×	+2.3×	Dec 31, 2017
2016	$1.36B	$345M	3.9×	+1.1×	Dec 31, 2016
2015	$922M	$330M	2.8×	-16.0×	Dec 31, 2015
2014	$2.81B	$149M	18.8×	+7.3×	Dec 31, 2014
2013	$988M	$85.6M	11.5×	—	Dec 31, 2013


Aureus Greenway Holdings (PUSA)	3.6×
Genuine Parts (GPC)	3.6×
Norwegian Cruise Line (NCLH)	3.5×
V.F. (VFC)	3.5×
Lululemon Athletica (LULU)	3.1×
Carnival Corporation (CCL)	2.9×
Ball (BALL)	2.8×
PDD Holdings (PDD)	2.3×
GameStop (GME)	2.0×
XPeng (XPEV)	2.0×
D.R. Horton (DHI)	2.0×
Alibaba (BABA)	1.9×
Li Auto (LI)	1.8×
Amcor (AMCR)	1.7×
Toll Brothers (TOL)	1.6×
Lucid Group (LCID)	1.5×
Leggett & Platt (LEG)	1.3×
Weyco Group (WEYS)	1.2×
Ford Motor (F)	1.2×
LKQ (LKQ)	1.2×
General Motors (GM)	1.1×
Smurfit Westrock (SW)	1.1×
Lennar (LEN)	1.0×
KB Home (KBH)	0.8×
Mohawk Industries (MHK)	0.7×

P/B Ratio for Etsy (ETSY) 2013-2026

P/B Ratio daily chart for Etsy (ETSY)

Historical P/B Ratio for Etsy (ETSY) from 2013 to 2025

About P/B Ratio at Etsy (ETSY)

Etsy P/B Ratio by Year

Etsy P/B Ratio 2021: 44.3×

Etsy P/B Ratio 2020: 30.2×

Etsy P/B Ratio 2019: 12.9×

Etsy P/B Ratio 2018: 14.3×

Etsy P/B Ratio 2017: 6.3×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Etsy (ETSY) Key Financials