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Held by 476 of 5,944 reporting institutions (97th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $72.34 today, the market must believe free cash flow compounds 1.0%/yr for a decade (off $703M normalized FCF).
The market's 1.0% is more conservative than its 9-yr track record.
2-stage DCF · 0.10B shares · net debt $1.6B
mean 98.8% · volatility σ 161% · implied rate exceeded in 6/9 yrs
Central path = implied 1.0%/yr growth; shaded band = ±1σ (161%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $777M buybacks = $777M returned on $678M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Modest payoff on reinvested capital. Current ROIC on all capital: 9%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~0.6% on $3.0B of debt.
Cash of $1.4B fully covers short-term debt of $649M.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.88B 100.0% | $2.81B 100.0% | $2.75B 100.0% | $2.57B 100.0% | $2.33B 100.0% | $1.73B 100.0% | $818.4M 100.0% | $603.7M 100.0% | $441.2M 100.0% | $365.0M 100.0% |
| Cost of Revenue | $817.8M 28.4% | $774.6M 27.6% | $828.7M 30.2% | $744.6M 29.0% | $654.5M 28.1% | $464.7M 26.9% | $271.0M 33.1% | $190.8M 31.6% | $151.0M 34.2% | $123.3M 33.8% |
| Gross Profit | $2.07B 71.6% | $2.03B 72.4% | $1.92B 69.8% | $1.82B 71.0% | $1.67B 71.9% | $1.26B 73.1% | $547.3M 66.9% | $412.9M 68.4% | $290.2M 65.8% | $241.6M 66.2% |
| Research & Development | $450.2M 15.6% | $443.1M 15.8% | $469.3M 17.1% | $412.4M 16.1% | $271.5M 11.7% | $180.1M 10.4% | $121.9M 14.9% | $97.2M 16.1% | $74.6M 16.9% | $55.1M 15.1% |
| Selling, General & Admin | $332.8M 11.5% | $353.9M 12.6% | $343.2M 12.5% | $312.3M 12.2% | $282.5M 12.1% | $156.0M 9.0% | $121.1M 14.8% | $82.9M 13.7% | $91.5M 20.7% | $86.2M 23.6% |
| Total Operating Expenses | $1.80B 62.4% | $1.65B 58.9% | $1.64B 59.7% | $2.48B 96.6% | $1.21B 51.9% | $836.9M 48.5% | $458.6M 56.0% | $338.1M 56.0% | $278.3M 63.1% | $224.1M 61.4% |
| Operating Income | $266.2M 9.2% | $380.2M 13.5% | $279.8M 10.2% | -$658.6M -25.7% | $465.7M 20.0% | $424.0M 24.6% | $88.8M 10.8% | $74.8M 12.4% | $11.9M 2.7% | $17.6M 4.8% |
| Interest Expense | $18.5M 0.6% | $13.8M 0.5% | $14.0M 0.5% | $14.2M 0.6% | $9.9M 0.4% | $42.0M 2.4% | $24.3M 3.0% | $22.2M 3.7% | $11.1M 2.5% | $7.2M 2.0% |
| Other Income (Expense), net | -$19.5M -0.7% | $30.6M 1.1% | $13.0M 0.5% | -$3.4M -0.1% | $5.9M 0.3% | -$58.3M -3.4% | -$8.1M -1.0% | -$19.7M -3.3% | $20.4M 4.6% | -$20.5M -5.6% |
| Pretax Income | $246.7M 8.6% | $410.8M 14.6% | $292.8M 10.7% | -$662.0M -25.8% | $471.7M 20.3% | $365.7M 21.2% | $80.6M 9.9% | $55.1M 9.1% | $32.3M 7.3% | -$2.9M -0.8% |
| Income Tax Expense | $83.7M 2.9% | $107.5M 3.8% | -$14.7M -0.5% | $32.3M 1.3% | -$21.9M -0.9% | $16.5M 1.0% | -$15.2M -1.9% | -$22.4M -3.7% | -$49.5M -11.2% | $27.0M 7.4% |
| Net Income | $163.0M 5.7% | $303.0M 10.8% | $308.0M 11.2% | -$694.0M -27.0% | $494.0M 21.2% | $349.2M 20.2% | $95.9M 11.7% | $77.5M 12.8% | $81.8M 18.5% | -$29.9M -8.2% |
| Per Share | ||||||||||
| EPS (Basic) | $1.59 | $2.64 | $2.51 | $-5.48 | $3.88 | $2.88 | $0.80 | $0.64 | $0.69 | $-0.26 |
| EPS (Diluted) | $1.39 | $2.35 | $2.24 | $-5.48 | $3.40 | $2.69 | $0.76 | $0.61 | $0.68 | $-0.26 |
| Weighted Avg Shares (Basic) | 102.4M | 114.9M | 122.5M | 126.8M | 127.2M | 121.3M | 119.7M | 120.1M | 118.5M | 113.6M |
| Weighted Avg Shares (Diluted) | 124.1M | 131.7M | 140.1M | 126.8M | 146.7M | 136.4M | 125.7M | 127.1M | 122.3M | 113.6M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-09-17
Nothing notable to watch.
Where each multiple sits in its own 11-yr range · 29th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 11-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 31.6 | 33.1 | 26.9 | 28.1 | 29.0 | 30.2 | 27.6 | 28.4 |
| Gross Profit | 68.4 | 66.9 | 73.1 | 71.9 | 71.0 | 69.8 | 72.4 | 71.6 |
| R&D | 16.1 | 14.9 | 10.4 | 11.7 | 16.1 | 17.1 | 15.8 | 15.6 |
| SG&A | 13.7 | 14.8 | 9.0 | 12.1 | 12.2 | 12.5 | 12.6 | 11.5 |
| Operating Income | 12.4 | 10.8 | 24.6 | 20.0 | -25.7 | 10.2 | 13.5 | 9.2 |
| Income Tax | -3.7 | -1.9 | 1.0 | -0.9 | 1.3 | -0.5 | 3.8 | 2.9 |
| Net Income | 12.8 | 11.7 | 20.2 | 21.2 | -27.0 | 11.2 | 10.8 | 5.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ETSY: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 490 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMZN | $2.70T | — | — | — | — | — | — | 20.5% | 16.2% | — | 5,764 |
| TSLA | $1.37T | 339.1× | 145.5× | 14.5× | -2.9% | 18.0% | 4.0% | 4.6% | 4.2% | 0.9× | 4,029 |
| TM | $614.2B | 60.0× | 24.8× | 2.6× | 3.8% | 18.4% | 4.4% | 7.9% | 5.9% | 1.7× | 665 |
| PDD | $442.6B | 32.9× | 31.9× | 7.2× | 14.5% | 56.3% | 22.7% | 23.7% | 23.7% | — | 548 |
| HD | $301.3B | 21.3× | 14.3× | 1.8× | 3.2% | 33.3% | 8.6% | 110% | 22.8% | 2.0× | 3,970 |
| BABA | $201.7B | 135.7× | — | 1.4× | 8.1% | 39.8% | 10.1% | 9.8% | 9.8% | — | 1,298 |
| TJX | $140.1B | 26.0× | — | 2.3× | 7.1% | 31.0% | 9.1% | 53.9% | 42.1% | — | 2,608 |
| HTHT | $132.7B | 187.9× | 114.3× | — | — | — | — | 39.7% | 27.3% | 0.7× | 258 |
| SBUX | $109.9B | 59.3× | 26.8× | 3.0× | 2.8% | — | 5.0% | -22.9% | 23.3% | 3.4× | 2,252 |
| LOW | $108.9B | 16.4× | 12.0× | 1.3× | 3.1% | 33.5% | 7.7% | -67.1% | 22.3% | 3.2× | 2,591 |
| ABNB | $101.7B | — | 37.9× | 8.3× | 10.3% | 83.0% | 20.5% | 30.6% | 24.6% | 0.8× | 1,246 |
| MELI | $92.5B | 46.3× | — | 3.2× | 39.1% | 44.5% | 6.9% | 29.6% | 12.5% | — | 1,380 |
| MAR | $88.8B | 35.1× | 20.6× | 3.4× | 4.3% | — | 9.9% | -69.0% | -69.4% | 0.0× | 1,559 |
| LKNCY | $86.3B | 168.2× | 90.8× | 12.3× | 48.9% | — | 7.3% | 23.0% | 23.0% | — | 9 |
| GM | $78.3B | 26.5× | 3.9× | 0.4× | -1.3% | — | 1.5% | 4.4% | 4.4% | — | 1,447 |
| ROST | $74.0B | 34.7× | 22.0× | 3.3× | 7.7% | 27.7% | 9.4% | 34.7% | 27.8% | 0.5× | 1,276 |
| ORLY | $71.5B | 28.6× | 19.5× | 4.0× | 6.4% | 51.6% | 14.3% | -333% | 48.3% | 1.5× | 1,569 |
| HLT | $69.7B | 49.4× | 24.0× | 5.8× | 7.7% | — | 12.1% | -27.0% | -27.0% | — | 1,126 |
| RCL | $67.7B | 16.0× | — | 3.8× | 8.8% | 49.4% | 23.8% | 42.5% | 32.3% | — | 1,114 |
| SE | $62.0B | 40.2× | 24.6× | 2.7× | 36.4% | 44.7% | 6.9% | 12.6% | 12.6% | — | 718 |
| F | $54.2B | — | 4.5× | 0.3× | 1.2% | 6.8% | -4.4% | -22.7% | -22.7% | — | — |
| NKE | $53.9B | 17.3× | — | 1.2× | 0.2% | 42.9% | 6.7% | 20.9% | 13.6% | — | 1,848 |
| EBAY | $50.7B | 26.0× | 18.4× | 4.6× | 7.9% | 71.5% | 18.3% | 45.3% | 38.8% | 0.3× | 1,182 |
| AZO | $47.8B | 19.6× | 13.3× | 2.5× | 2.4% | 52.6% | 13.2% | -73.2% | 46.4% | 2.1× | 1,245 |
| CMG | $44.8B | 29.4× | 19.4× | 3.8× | 5.4% | — | 12.9% | 54.3% | 54.3% | 0.0× | 1,203 |
| ETSY | $7.0B | 52.0× | 23.5× | 2.4× | 2.7% | 71.6% | 5.7% | -14.8% | 8.7% | 8.1× | 476 |
Peers = companies sharing ETSY's sector (Consumer Cyclical) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.