EtsyMEX:ETSY 72 Piotroski F-Score is 6 as of Jun. 27, 2026, which is at its 10-year median of 6.00. GuruFocus rates MEX:ETSY with a GF Score™ of 72/100 and a GF Value™ of MXN1,084.02 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,101 Retail - Cyclical companies, Etsy ranks better than 72.93% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Etsy has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Etsy's Piotroski F-Score or its related term are showing as below:
MEX:ETSY'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 7
Current: 6
During the past 13 years, the highest Piotroski F-Score of Etsy was 7. The lowest was 3. And the median was 6.
Etsy (MEX:ETSY) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Etsy Piotroski F-Score Related Terms
Etsy Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Etsy's Piotroski F-Score 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.
MEX:ETSY vs VIPS, GLBE, CHWY: Piotroski F-Score Comparison
For the Internet Retail subindustry, Etsy's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Etsy's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Etsy's Piotroski F-Score falls into.
* 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 543.034 + 1385.042 + 1993.861 + 1256.519 = MXN5,178 Mil. Cash Flow from Operations was 2036.133 + 4016.829 + 5710.04 + 1455.996 = MXN13,219 Mil. Revenue was 12665.706 + 12437.845 + 15874.473 + 11383.629 = MXN52,362 Mil. Gross Profit was 9021.352 + 8867.238 + 11597.291 + 8215.662 = MXN37,702 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(43387.792 + 48149.07 + 48663.696 + 50906.687 + 48346.624) / 5 = MXN47890.7738 Mil. Total Assets at the begining of this year (Mar25) was MXN43,388 Mil. Long-Term Debt & Capital Lease Obligation was MXN43,756 Mil. Total Current Assets was MXN38,100 Mil. Total Current Liabilities was MXN22,551 Mil.
Net Income was 971.057 + 1129.554 + 2709.281 + -1065.79 = MXN3,744 Mil.
Revenue was 11867.873 + 13043.052 + 17772.435 + 13321.889 = MXN56,005 Mil. Gross Profit was 8495.325 + 9387.744 + 13232.337 + 9392.666 = MXN40,508 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(41451.985 + 44849.224 + 48087.769 + 50424.536 + 43387.792) / 5 = MXN45640.2612 Mil. Total Assets at the begining of last year (Mar24) was MXN41,452 Mil. Long-Term Debt & Capital Lease Obligation was MXN48,712 Mil. Total Current Assets was MXN22,708 Mil. Total Current Liabilities was MXN10,621 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Etsy's current Net Income (TTM) was 5,178.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Etsy's current ratio of this year was 1.68949978. Etsy's current ratio of last year was 2.13812704.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Etsy's number of shares in issue this year was 121.029. Etsy's number of shares in issue last year was 107.084.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Etsy's gross margin of this year was 0.72002202. Etsy's gross margin of last year was 0.72329063.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Etsy's asset turnover of this year was 1.20682917. Etsy's asset turnover of last year was 1.35108726.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Etsy has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Etsy (MEX:ETSY) has a Piotroski F-Score of 6 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Etsy and its competitors. This is near median its historical median of 6.00. Over the past decade, Etsy's Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Etsy ranks #298 out of 1101 companies in the Retail - Cyclical industry, placing it in the top 27.1%.
Is Etsy's Piotroski F-Score too high?
Etsy's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Retail - Cyclical industry median Piotroski F-Score is 5.00. Etsy's value of 6 is 20% above this industry median. Based on the distribution chart, Etsy ranks #298 out of 1101 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Etsy has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Etsy's Piotroski F-Score compare to VIPS and GLBE?
According to the Retail - Cyclical industry distribution chart, Etsy ranks #298 out of 1101 companies for Piotroski F-Score. This puts Etsy in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Etsy's value of 6 is 20% above this benchmark. Historically, Etsy's own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Etsy has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Retail - Cyclical company?
The median Piotroski F-Score among Retail - Cyclical companies is 5.00, based on 1,101 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Etsy's current Piotroski F-Score of 6 is 20% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Etsy and its competitors. For the Retail - Cyclical industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Etsy's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Etsy stock overvalued right now?
Based on GuruFocus' analysis, Etsy (MEX:ETSY) is currently considered Modestly Overvalued. The stock's GF Value™ is MXN1,084.02, compared to a current price of MXN1,358.55 — trading 25.3% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Retail - Cyclical industry median of 5.00. Etsy's overall GF Score™ is 72/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Etsy (MEX:ETSY), the current Piotroski F-Score is 6 as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Etsy (MEX:ETSY) Overvalued in 2026?
Based on GuruFocus' analysis, Etsy stock appears to be overvalued.
The current stock price of MXN1,358.55 is trading 25.3% above its estimated GF Value™ of MXN1,084.02.
GuruFocus considers Etsy to be Modestly Overvalued.
Key valuation signals for MEX:ETSY:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: MXN1,084.02 vs. price of MXN1,358.55 (25.3% above fair value)
Industry Position: 20% above the Retail - Cyclical median (#298 of 1101)
No single metric tells the full story. See the MEX:ETSY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 2005, Etsy operates a leading global marketplace, connecting roughly 87 million active buyers and 6 million sellers of unique, handmade, and vintage goods. In fiscal 2025, the firm generated $2.9 billion in revenue and almost $12 billion in gross merchandise sales. The firm monetizes its marketplace primarily through transaction fees and advertising, with core categories spanning homeware, jewelry, apparel, and craft supplies. The US drives 74% of sales, though its core geographic reach extends to the UK, Germany, Canada, and Australia.
72GF Score
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