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Etsy (MIL:1ETSY) Cyclically Adjusted FCF per Share : €2.73 (As of Mar. 2025)


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What is Etsy Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

Etsy's adjusted free cash flow per share for the three months ended in Mar. 2025 was €0.305. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is €2.73 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Etsy's average Cyclically Adjusted FCF Growth Rate was 23.50% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

As of today (2025-05-28), Etsy's current stock price is €43.555. Etsy's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was €2.73. Etsy's Cyclically Adjusted Price-to-FCF of today is 15.95.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Etsy was 36.46. The lowest was 13.84. And the median was 21.98.


Etsy Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Etsy's Cyclically Adjusted FCF per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Etsy Cyclically Adjusted FCF per Share Chart

Etsy Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - 2.24 3.28

Etsy Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.38 2.57 2.62 3.28 2.73

Competitive Comparison of Etsy's Cyclically Adjusted FCF per Share

For the Internet Retail subindustry, Etsy's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Etsy's Cyclically Adjusted Price-to-FCF Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Etsy's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Etsy's Cyclically Adjusted Price-to-FCF falls into.


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Etsy Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Etsy's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=0.305/134.9266*134.9266
=0.305

Current CPI (Mar. 2025) = 134.9266.

Etsy Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 -0.006 100.684 -0.008
201509 -0.014 100.392 -0.019
201512 0.083 99.792 0.112
201603 -0.080 100.470 -0.107
201606 -0.016 101.688 -0.021
201609 -0.003 101.861 -0.004
201612 0.107 101.863 0.142
201703 -0.027 102.862 -0.035
201706 0.063 103.349 0.082
201709 0.103 104.136 0.133
201712 0.240 104.011 0.311
201803 0.148 105.290 0.190
201806 0.242 106.317 0.307
201809 0.162 106.507 0.205
201812 0.652 105.998 0.830
201903 0.186 107.251 0.234
201906 0.308 108.070 0.385
201909 0.312 108.329 0.389
201912 0.550 108.420 0.684
202003 0.205 108.902 0.254
202006 1.454 108.767 1.804
202009 1.132 109.815 1.391
202012 1.388 109.897 1.704
202103 0.840 111.754 1.014
202106 0.667 114.631 0.785
202109 0.466 115.734 0.543
202112 1.658 117.630 1.902
202203 0.312 121.301 0.347
202206 0.765 125.017 0.826
202209 1.536 125.227 1.655
202212 2.142 125.222 2.308
202303 0.310 127.348 0.328
202306 0.838 128.729 0.878
202309 1.401 129.860 1.456
202312 1.885 129.419 1.965
202403 0.403 131.776 0.413
202406 0.982 132.554 1.000
202409 1.408 133.029 1.428
202412 2.280 133.157 2.310
202503 0.305 134.927 0.305

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


Etsy  (MIL:1ETSY) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Etsy's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=43.555/2.73
=15.95

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Etsy was 36.46. The lowest was 13.84. And the median was 21.98.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Etsy Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of Etsy's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Etsy Business Description

Industry
Address
117 Adams Street, Brooklyn, NY, USA, 11201
Etsy operates a top-10 e-commerce marketplace in the US and the UK, with sizable operations in Germany, France, Australia, and Canada. The firm dominates an interesting niche, connecting buyers and sellers through its online market to exchange vintage and craft goods. With $12.5 billion in 2024 consolidated gross merchandise volume, Etsy has cemented itself as one of the largest players in a quickly growing space, generating revenue from listing fees, commissions on sold items, advertising services, payment processing, and shipping labels. As of the end of 2024, the firm connected more than 95 million buyers and 8 million sellers on its marketplace properties: Etsy, Reverb (musical equipment), and Depop (clothing resale).

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