Etsy Inc (ETSY)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,919,700 | 1,821,520 | 1,674,600 | 1,260,880 | 547,343 |
| Revenue | US$ in thousands | 2,748,380 | 2,566,110 | 2,329,110 | 1,725,620 | 818,379 |
| Gross profit margin | 69.85% | 70.98% | 71.90% | 73.07% | 66.88% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,919,700K ÷ $2,748,380K
= 69.85%
Etsy Inc's gross profit margin has exhibited a generally declining trend over the past five years, decreasing from 66.88% in 2019 to 69.85% in 2023. This indicates that the company's cost of goods sold as a percentage of revenue has been gradually increasing. Although the margins have fluctuated slightly year over year, it is noteworthy that the gross profit margin reached its peak at 73.07% in 2020 before declining in subsequent years. This trend suggests potential challenges in managing production and operating costs efficiently. Further analysis is recommended to identify the specific factors driving the changes in Etsy Inc's gross profit margin and to assess its implications for the company's overall financial performance and competitiveness.
Peer comparison
Dec 31, 2023