Filing Flows › Etsy (ETSY) › Operating margin
Etsy (ETSY) operating margin by quarter
Etsy's operating margin was 16.1% in Q3 2026 (third quarter 2026), -2.9 pts from Q1 2026. Over the last 5 quarters it ranged from 11.4% (Q2 2025) to 19.0% (Q1 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 16.1% | -2.9 pts | +3.9 pts |
| Q1 2026 | 19.0% | +4.3 pts | — |
| Q4 2025 | 14.7% | +2.5 pts | — |
| Q3 2025 | 12.2% | +0.8 pts | — |
| Q2 2025 | 11.4% | — | — |
Q3 2026 at a glance
Etsy, Q3 2026: revenue $692M (+11% year over year), operating margin 16.1%, net earnings $854M, operating cash flow $160M. The chart follows the revenue to costs, profit and cash.
Questions
What is Etsy's operating margin?
Etsy's operating margin was 16.1% in Q3 2026 (third quarter 2026), -2.9 pts from Q1 2026.
How has Etsy's operating margin changed?
Over the last 5 quarters it ranged from 11.4% (Q2 2025) to 19.0% (Q1 2026).