Tag Archives: ETSY

Etsy, Inc. (ETSY), mcap=$13.2bn, price $104 vs 103

A high-quality business with high margins, strong cash flow, and potential for future margin expansion as the business grows.
Unlike other covid beneficiaries, ETSY is likely to keep the gains it experienced during the pandemic.
Strong network effects.
Set to benefit from continued commerce shift online.
Currently trades at only 20x FCF.
With mid-single-digit growth, a slight increase in the take rate, and some incremental margin leverage the stock is expected to compound at double-digit rates moving forward.