Stock Analysis on Net
Stock Analysis on Net

Etsy Inc. (NASDAQ:ETSY)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 3, 2022.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Etsy Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Accounts payable
Accrued expenses
Finance lease obligations, current
Funds payable and amounts due to sellers
Deferred revenue
Other current liabilities
Current liabilities
Finance lease obligations, net of current portion
Deferred tax liabilities
Facility financing obligation
Long-term debt, net
Other liabilities
Non-current liabilities
Total liabilities
Common stock, $0.001 par value
Preferred stock, $0.001 par value
Additional paid-in capital
Retained earnings (accumulated deficit)
Accumulated other comprehensive income (loss)
Stockholders’ equity (deficit)
Total liabilities and stockholders’ equity (deficit)

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Current Liabilities
The current liabilities as a percentage of total liabilities and stockholders’ equity fluctuated over the observed periods, starting at 15.29% in March 2017, dipping to a low near 10.32% in September 2019, and subsequently rising sharply to 20.29% by September 2022. This volatility was reflected in components such as accrued expenses, which increased notably from 4.27% in March 2017 to a peak of 10.2% by September 2022, and funds payable and amounts due to sellers which showed irregular movements but had a significant rise reaching 7.98% in the last period.
Finance Lease Obligations
The current portion of finance lease obligations displayed a consistent decline from 1.27% in March 2017 to a mere 0.06% in December 2021, with a slight uptick to 0.2% in September 2022. The non-current finance lease obligations experienced a reduction from 0.87% to as low as 0.23% in December 2018 but then surged dramatically to 6.08% in March 2019, before settling around 4.34% in September 2022.
Deferred Items
Deferred revenue slightly decreased overall, with minor fluctuations around 1% initially and settling below 0.5% toward the end of the series. Deferred tax liabilities experienced a steep decline from 12.25% in March 2017 down to nearly 0% by mid-2021, before slightly rising again to 2.54% in September 2022.
Long-Term Debt and Other Non-Current Liabilities
Long-term debt emerged in the dataset starting from March 2018, showing an upward trend from about 30.5% to a striking 92.99% by September 2022, indicating a substantial increase in leverage over time. Other non-current liabilities demonstrated a general decline from 4.77% to below 2% by mid-2020, before modestly increasing again to 4.58% by the latest period. Overall, non-current liabilities as a whole increased significantly from 29.12% in early 2017 to 104.45% in September 2022.
Total Liabilities
Total liabilities as a share of total liabilities and stockholders’ equity rose from 44.41% in March 2017 to an all-time high of 124.74% in September 2022. This steady increase points to a growing reliance on liabilities for financing, surpassing the total equity base in later periods.
Stockholders’ Equity Components
Additional paid-in capital declined considerably, from above 84% in early 2017 to a trough below 17% between 2020 and 2021, before a mild rebound to 31.58% by September 2022. Retained earnings, initially negative at -31.69%, showed improvement and even positive values during early 2021, but ended with a significant deficit of -41.11% in September 2022. Accumulated other comprehensive income (loss) fluctuated from positive values to steadily increasing losses, reaching -15.22% in the final period. Overall stockholders’ equity decreased from about 55.59% in 2017 to a negative level of -24.74% by September 2022.
Summary Insights
The data reveals a marked increase in leverage and a deterioration of equity values over the observed time frame. Long-term debt and overall liabilities expanded substantially, overwhelming equity which turned negative in the latest period. This signifies increasing financial risk and possible strain on the capital structure. Variations in accrued expenses and funds payable highlight changing operational obligations, while reduced deferred tax liabilities could indicate strategic tax position changes. The negative retained earnings and comprehensive losses suggest ongoing cumulative deficits impacting total equity sustainability.