Etsy
ETSY · Broadline Retail
$86.93
4.3%Kohl's
KSS · Broadline Retail
$24.58
0.8%The short version
- Kohl's is the larger business, with $15.5B of revenue in fiscal 2025 against $2.9B for Etsy, about 5.4 times as much.
- Etsy grew revenue faster (2.7%, against −4.3%).
- Etsy kept more of each dollar of sales as operating profit (9.2% operating margin, against 4.0% operating margin).
- Etsy turned more of its sales into free cash flow (23.5% FCF margin, against 6.5% FCF margin).
- Etsy earned a higher return on the capital invested in it (37.2%, against 7.2%).
- Investors pay more for each dollar of Etsy’s earnings: a P/E of 48.6x against 10.7x for Kohl's.
| Latest fiscal year | ETSY · FY25 | KSS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.4B | $2.9B |
| Revenue | $2.9B | $15.5B |
| Free cash flow | $678M | $1.0B |
| Net income | $163M | $272M |
| Growth | ||
| Revenue growth | 2.7% | −4.3% |
| 5-year growth | 10.8% | −0.5% |
| Share count change | −5.8% | 1.8% |
| Profitability | ||
| Gross margin | 71.6% | 40.6% |
| Operating margin | 9.2% | 4.0% |
| Net margin | 5.7% | 1.8% |
| FCF margin | 23.5% | 6.5% |
| Return on capital | 37.2% | 7.2% |
| Return on equity | — | 6.9% |
| Balance sheet | ||
| Net debt | $1.5B | $2.8B |
| Net debt / EBITDA | 4.0x | 2.1x |
| Dividends and buybacks | $777M | $56.0M |
| Valuation & quality | ||
| P/E | 48.6x | 10.7x |
| Piotroski F-score | 5 | 7 |
FY16
ETSY $365M
KSS $19.7B
FY17
ETSY $441M
KSS $20.1B
FY18
ETSY $604M
KSS $20.2B
FY19
ETSY $818M
KSS $20.0B
FY20
ETSY $1.7B
KSS $16.0B
FY21
ETSY $2.3B
KSS $19.4B
FY22
ETSY $2.6B
KSS $18.1B
FY23
ETSY $2.7B
KSS $17.5B
FY24
ETSY $2.8B
KSS $16.2B
FY25
ETSY $2.9B
KSS $15.5B
ETSY
KSS
FY16
ETSY 4.8%
KSS 6.0%
FY17
ETSY 2.7%
KSS 7.1%
FY18
ETSY 12.4%
KSS 6.7%
FY19
ETSY 10.9%
KSS 5.5%
FY20
ETSY 24.6%
KSS −1.6%
FY21
ETSY 20.0%
KSS 8.7%
FY22
ETSY −25.7%
KSS 1.4%
FY23
ETSY 10.2%
KSS 4.1%
FY24
ETSY 13.5%
KSS 2.7%
FY25
ETSY 9.2%
KSS 4.0%
ETSY
KSS
FY16
ETSY $12.0M
KSS $1.4B
FY17
ETSY $65.2M
KSS $1.0B
FY18
ETSY $198M
KSS $1.5B
FY19
ETSY $199M
KSS $802M
FY20
ETSY $678M
KSS $1.0B
FY21
ETSY $640M
KSS $1.7B
FY22
ETSY $673M
KSS −$544M
FY23
ETSY $693M
KSS $591M
FY24
ETSY $738M
KSS $182M
FY25
ETSY $678M
KSS $1.0B
ETSY
KSS
FY16
ETSY —
KSS 10.2%
FY17
ETSY —
KSS 15.5%
FY18
ETSY —
KSS 15.4%
FY19
ETSY 36.3%
KSS 11.9%
FY20
ETSY 129.5%
KSS −3.0%
FY21
ETSY 41.9%
KSS 19.7%
FY22
ETSY −38.5%
KSS 2.6%
FY23
ETSY 41.0%
KSS —
FY24
ETSY 43.7%
KSS —
FY25
ETSY 37.2%
KSS 7.2%
ETSY
KSS
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.