$Etsy Inc (ETSY.US)$In the inventory of March 2022, it was e...

Listed in 2015, mainly engaged in online handicraft sales business, with 55.7% of the market in the USA, current price is 76.57.

Revenue has been growing continuously for 5 years, with an average growth rate of 42%. In 2022, the growth rate decreased to 10.2%, operating profit in 2022 plummeted by 17%, and net income incurred a loss in 2022. Such a significant change in performance should be related to the substantial acquisition in 2021, as the main reason for the net loss in 2022 was a write-down of 1.045 billion.

Revenue increased by 8.4% in the first three quarters of 2023, operating profit shrank by 5.9%. Without any impairment in the first three quarters, the pre-tax net income surged to 0.184 billion, but still significantly lower than the pre-tax net income of 0.327 billion in the first three quarters of 2021.

Currently, the P/E ratio TTM is 31, even based on the high point net income of 0.494 billion in 2021, the P/E ratio still reaches 18.6, which seems too high at the moment.