vs
ETSY INC（ETSY）与盖茨工业（GTES）财务数据对比。点击上方公司名可切换其他公司
ETSY INC的季度营收约是盖茨工业的1.0倍（$881.6M vs $856.2M），ETSY INC净利率更高（12.6% vs 6.0%，领先6.6%），ETSY INC同比增速更快（3.5% vs 3.2%），ETSY INC自由现金流更多（$315.9M vs $251.0M），过去两年ETSY INC的营收复合增速更高（16.8% vs -0.4%）
Etsy是美国电商企业，主打手工制品、复古商品及手工耗材交易，平台品类覆盖珠宝首饰、服饰、家居装饰、家具、玩具、艺术品等。平台规定复古商品需至少有20年历史，卖家可开设独立店铺，每件上架商品收取0.2美元挂牌费，2013年起平台也允许量产商品入驻销售。
盖茨工业总部位于美国科罗拉多州丹佛市，是动力传动带及流体动力产品的专业制造商，产品广泛应用于各类工业和汽车领域。公司员工规模超1.5万人，在美洲、欧洲、亚洲、澳洲及中东均设有销售和生产基地。
ETSY vs GTES — 直观对比
营收规模更大
ETSY
是对方的1.0倍
$856.2M
营收增速更快
ETSY
高出0.2%
3.2%
净利率更高
ETSY
高出6.6%
6.0%
自由现金流更多
ETSY
多$64.9M
$251.0M
两年增速更快
ETSY
近两年复合增速
-0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $881.6M | $856.2M |
| 净利润 | $110.7M | $51.3M |
| 毛利率 | 73.1% | 38.0% |
| 营业利润率 | 14.7% | 12.8% |
| 净利率 | 12.6% | 6.0% |
| 营收同比 | 3.5% | 3.2% |
| 净利润同比 | -14.8% | 40.2% |
| 每股收益（稀释后） | $1.00 | $0.19 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ETSYGTES
| Q4 25 | $881.6M | $856.2M | ||
| Q3 25 | $678.0M | $855.7M | ||
| Q2 25 | $672.7M | $883.7M | ||
| Q1 25 | $651.2M | $847.6M | ||
| Q4 24 | $852.2M | $829.4M | ||
| Q3 24 | $662.4M | $830.7M | ||
| Q2 24 | $647.8M | $885.5M | ||
| Q1 24 | $646.0M | $862.6M |
净利润ETSYGTES
| Q4 25 | $110.7M | $51.3M | ||
| Q3 25 | $75.5M | $81.6M | ||
| Q2 25 | $28.8M | $56.5M | ||
| Q1 25 | $-52.1M | $62.0M | ||
| Q4 24 | $129.9M | $36.6M | ||
| Q3 24 | $57.4M | $47.6M | ||
| Q2 24 | $53.0M | $70.7M | ||
| Q1 24 | $63.0M | $40.0M |
毛利率ETSYGTES
| Q4 25 | 73.1% | 38.0% | ||
| Q3 25 | 71.3% | 39.9% | ||
| Q2 25 | 71.2% | 40.8% | ||
| Q1 25 | 70.5% | 40.7% | ||
| Q4 24 | 74.5% | 40.4% | ||
| Q3 24 | 72.0% | 40.4% | ||
| Q2 24 | 71.6% | 40.4% | ||
| Q1 24 | 71.0% | 38.3% |
营业利润率ETSYGTES
| Q4 25 | 14.7% | 12.8% | ||
| Q3 25 | 12.2% | 13.5% | ||
| Q2 25 | 11.4% | 13.1% | ||
| Q1 25 | -3.4% | 14.7% | ||
| Q4 24 | 18.2% | 13.6% | ||
| Q3 24 | 13.1% | 13.6% | ||
| Q2 24 | 10.8% | 15.4% | ||
| Q1 24 | 10.5% | 13.5% |
净利率ETSYGTES
| Q4 25 | 12.6% | 6.0% | ||
| Q3 25 | 11.1% | 9.5% | ||
| Q2 25 | 4.3% | 6.4% | ||
| Q1 25 | -8.0% | 7.3% | ||
| Q4 24 | 15.2% | 4.4% | ||
| Q3 24 | 8.7% | 5.7% | ||
| Q2 24 | 8.2% | 8.0% | ||
| Q1 24 | 9.8% | 4.6% |
每股收益（稀释后）ETSYGTES
| Q4 25 | $1.00 | $0.19 | ||
| Q3 25 | $0.63 | $0.31 | ||
| Q2 25 | $0.25 | $0.22 | ||
| Q1 25 | $-0.49 | $0.24 | ||
| Q4 24 | $1.01 | $0.15 | ||
| Q3 24 | $0.45 | $0.18 | ||
| Q2 24 | $0.41 | $0.26 | ||
| Q1 24 | $0.48 | $0.15 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.4B | $812.1M |
| 总债务越低越好 | $2.3B | $2.2B |
| 股东权益账面价值 | $-1.1B | $3.3B |
| 总资产 | $2.8B | $7.2B |
| 负债/权益比越低杠杆越低 | — | 0.67× |
8季度趋势，按日历期对齐
现金及短期投资ETSYGTES
| Q4 25 | $1.4B | $812.1M | ||
| Q3 25 | $1.2B | $689.4M | ||
| Q2 25 | $1.2B | $719.7M | ||
| Q1 25 | $649.2M | $640.2M | ||
| Q4 24 | $811.2M | $682.0M | ||
| Q3 24 | $818.9M | $574.4M | ||
| Q2 24 | $759.2M | $579.7M | ||
| Q1 24 | $788.8M | $522.2M |
总债务ETSYGTES
| Q4 25 | $2.3B | $2.2B | ||
| Q3 25 | $3.0B | $2.2B | ||
| Q2 25 | $3.0B | $2.3B | ||
| Q1 25 | $2.3B | $2.3B | ||
| Q4 24 | $2.3B | $2.4B | ||
| Q3 24 | $2.3B | $2.4B | ||
| Q2 24 | $2.3B | $2.3B | ||
| Q1 24 | $2.3B | $2.3B |
股东权益ETSYGTES
| Q4 25 | $-1.1B | $3.3B | ||
| Q3 25 | $-1.1B | $3.4B | ||
| Q2 25 | $-1.1B | $3.3B | ||
| Q1 25 | $-910.3M | $3.1B | ||
| Q4 24 | $-758.9M | $3.0B | ||
| Q3 24 | $-624.3M | $3.1B | ||
| Q2 24 | $-635.0M | $3.2B | ||
| Q1 24 | $-583.8M | $3.2B |
总资产ETSYGTES
| Q4 25 | $2.8B | $7.2B | ||
| Q3 25 | $2.7B | $7.1B | ||
| Q2 25 | $2.6B | $7.2B | ||
| Q1 25 | $2.1B | $6.9B | ||
| Q4 24 | $2.4B | $6.8B | ||
| Q3 24 | $2.4B | $7.1B | ||
| Q2 24 | $2.4B | $7.0B | ||
| Q1 24 | $2.5B | $7.0B |
负债/权益比ETSYGTES
| Q4 25 | — | 0.67× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 0.78× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | — | 0.73× | ||
| Q1 24 | — | 0.74× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $317.1M | $269.8M |
| 自由现金流经营现金流 - 资本支出 | $315.9M | $251.0M |
| 自由现金流率自由现金流/营收 | 35.8% | 29.3% |
| 资本支出强度资本支出/营收 | 0.1% | 2.2% |
| 现金转化率经营现金流/净利润 | 2.86× | 5.26× |
| 过去12个月自由现金流最近4个季度 | $678.0M | $404.9M |
8季度趋势，按日历期对齐
经营现金流ETSYGTES
| Q4 25 | $317.1M | $269.8M | ||
| Q3 25 | $219.0M | $98.0M | ||
| Q2 25 | $108.1M | $103.0M | ||
| Q1 25 | $49.2M | $7.3M | ||
| Q4 24 | $315.0M | $190.9M | ||
| Q3 24 | $217.4M | $115.9M | ||
| Q2 24 | $151.1M | $93.8M | ||
| Q1 24 | $69.0M | $-21.0M |
自由现金流ETSYGTES
| Q4 25 | $315.9M | $251.0M | ||
| Q3 25 | $215.0M | $80.5M | ||
| Q2 25 | $101.3M | $83.6M | ||
| Q1 25 | $45.9M | $-10.2M | ||
| Q4 24 | $310.9M | $167.6M | ||
| Q3 24 | $213.2M | $94.0M | ||
| Q2 24 | $147.4M | $71.9M | ||
| Q1 24 | $66.8M | $-37.0M |
自由现金流率ETSYGTES
| Q4 25 | 35.8% | 29.3% | ||
| Q3 25 | 31.7% | 9.4% | ||
| Q2 25 | 15.1% | 9.5% | ||
| Q1 25 | 7.1% | -1.2% | ||
| Q4 24 | 36.5% | 20.2% | ||
| Q3 24 | 32.2% | 11.3% | ||
| Q2 24 | 22.8% | 8.1% | ||
| Q1 24 | 10.3% | -4.3% |
资本支出强度ETSYGTES
| Q4 25 | 0.1% | 2.2% | ||
| Q3 25 | 0.6% | 2.0% | ||
| Q2 25 | 1.0% | 2.2% | ||
| Q1 25 | 0.5% | 2.1% | ||
| Q4 24 | 0.5% | 2.8% | ||
| Q3 24 | 0.6% | 2.6% | ||
| Q2 24 | 0.6% | 2.5% | ||
| Q1 24 | 0.3% | 1.9% |
现金转化率ETSYGTES
| Q4 25 | 2.86× | 5.26× | ||
| Q3 25 | 2.90× | 1.20× | ||
| Q2 25 | 3.75× | 1.82× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | 2.42× | 5.22× | ||
| Q3 24 | 3.79× | 2.43× | ||
| Q2 24 | 2.85× | 1.33× | ||
| Q1 24 | 1.10× | -0.53× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ETSY
| Marketplace Revenue | $612.4M | 69% |
| Services Revenue | $269.2M | 31% |
GTES
| Power Transmission Segment | $536.5M | 63% |
| Fluid Power Segment | $319.7M | 37% |
