How Etsy (ETSY) Makes Money: A Visual Guide
Etsy (ETSY) generated $2.86B in revenue, earning $284.76M in net profit (9.9% margin). Its largest revenue source is Marketplace Revenue (69.2% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.
In TTM through Q1 2026, Etsy (ETSY) generated revenue across 2 reportable product segments; the largest contributor was Marketplace Revenue at 69.2%, followed by Services Revenue (30.8%). Geographically, UNITED STATES accounted for 50% of revenue, followed by Non-US (39.8%) and UNITED KINGDOM (10.2%).
Etsy (ETSY) Income Statement Flow — TTM through Q1 2026
Calculated from the four most recent reported quarters, ending (reported ).
Etsy (ETSY) Revenue by Product Segment — TTM through Q1 2026
Revenue contribution by product segment for Etsy (ETSY) in TTM through Q1 2026.
Marketplace Revenue
- Revenue
- $1.98B
- % of total
- 69.2%
Services Revenue
- Revenue
- $882.16M
- % of total
- 30.8%
Total
- Revenue
- $2.86B
- % of total
- 100%
| Segment | Revenue | % of total |
|---|---|---|
| Marketplace Revenue | $1.98B | 69.2% |
| Services Revenue | $882.16M | 30.8% |
| Total | $2.86B | 100% |
Etsy (ETSY) Revenue by Geography — TTM through Q1 2026
Aggregated across the four most recent quarters, matching the TTM through Q1 2026 income statement above. Region totals sum quarterly disclosures; minor differences vs the company's annual filing can occur if reported regions changed mid-year.
Revenue contribution by geographic region for Etsy (ETSY), TTM through Q1 2026.
UNITED STATES
- Revenue
- $1.43B
- % of total
- 50%
Non-US
- Revenue
- $1.14B
- % of total
- 39.8%
UNITED KINGDOM
- Revenue
- $293.09M
- % of total
- 10.2%
Total
- Revenue
- $2.86B
- % of total
- 100%
| Region | Revenue | % of total |
|---|---|---|
| UNITED STATES | $1.43B | 50% |
| Non-US | $1.14B | 39.8% |
| UNITED KINGDOM | $293.09M | 10.2% |
| Total | $2.86B | 100% |
Frequently asked questions
How does Etsy (ETSY) make money?
Etsy (ETSY) primarily makes money through Marketplace Revenue, which accounts for 69.2% of total revenue. For TTM through Q1 2026, Etsy generated $2.86B in total revenue with a net profit margin of 9.9%.
What is Etsy (ETSY) gross profit margin?
Etsy (ETSY) reported a gross profit margin of 72% for TTM through Q1 2026, equivalent to $2.06B in gross profit. This means Etsy retains 72% of each revenue unit after direct costs of production.
What is Etsy (ETSY) operating profit margin?
Etsy (ETSY) reported an operating profit margin of 14.3% for TTM through Q1 2026, equivalent to $408.38M in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Etsy (ETSY) net profit margin?
Etsy (ETSY) reported a net profit margin of 9.9% for TTM through Q1 2026, equivalent to $284.76M in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Etsy (ETSY) invest in R&D?
Etsy (ETSY) invested $438.73M in research and development in TTM through Q1 2026 (15.3% of total revenue). R&D spending reflects investment in future products, services, and technologies.
How much does Etsy (ETSY) spend on capital expenditures?
Etsy (ETSY) spent $52.33M on capital expenditures in TTM through Q1 2026 (1.8% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Etsy (ETSY) free cash flow?
Etsy (ETSY) generated $672.64M in free cash flow for TTM through Q1 2026 (23.5% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is Etsy (ETSY) effective tax rate?
Etsy (ETSY) had an effective tax rate of 21.9% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.
What are Etsy (ETSY) main revenue segments?
Etsy (ETSY) reports revenue across 2 reportable product segments, led by Marketplace Revenue at 69.2% of total revenue in TTM through Q1 2026. The full segment-by-segment breakdown is shown in the revenue-by-segment table on this page.
Where does Etsy (ETSY) generate most of its revenue?
Geographically, 50% of Etsy (ETSY) revenue came from UNITED STATES in the most recent annual filing. The full regional split is shown in the revenue-by-geography table on this page.
Data & methodology
What is a Sankey diagram?
A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?
We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
Where do segment and geographic numbers come from?
Product-segment shares come from the same TTM income statement that powers the Sankey chart. Geographic splits are first rebuilt from the four most recent quarterly geographic-segmentation filings so they align with the same TTM window; if quarterly geo data is missing, we fall back to the latest annual disclosure (the table heading shows which one is in use).
When was this data last updated?
Based on company filings through TTM through Q1 2026.
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