Debt to Equity
since 2015
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Etsy Inc. pages available for free this week:
- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2015
- Total Asset Turnover since 2015
- Price to Earnings (P/E) since 2015
- Analysis of Debt
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Calculation
Etsy Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Debt and finance lease obligations1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | = | ÷ | |||
| Dec 31, 2020 | = | ÷ | |||
| Dec 31, 2019 | = | ÷ | |||
| Dec 31, 2018 | = | ÷ | |||
| Dec 31, 2017 | = | ÷ | |||
| Dec 31, 2016 | = | ÷ | |||
| Dec 31, 2015 | = | ÷ |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 US$ in thousands
- Debt and Finance Lease Obligations
- There is a significant upward trend in debt and finance lease obligations over the period from 2015 to 2021. The amount increased modestly from $64,985 thousand in 2015 to $69,962 thousand in 2017, followed by a sharp rise starting in 2018, reaching $342,456 thousand. This upward trajectory continued steeply through 2019 and 2020, with values of $847,012 thousand and $1,115,815 thousand respectively, culminating in a substantial peak of $2,388,119 thousand by the end of 2021.
- Stockholders’ Equity
- Stockholders’ equity shows a moderate increasing trend from $330,498 thousand in 2015 to $406,634 thousand in 2019. A pronounced increase occurs in 2020, nearly doubling the equity to $742,424 thousand. However, in 2021, equity declined to $628,619 thousand, marking a decrease from the prior year.
- Debt to Equity Ratio
- The debt to equity ratio remains relatively low and stable from 2015 to 2017, fluctuating between 0.18 and 0.2. In 2018, this ratio spikes significantly to 0.85, indicating a marked increase in leverage. By 2019, the ratio escalates sharply to 2.08, suggesting the company leveraged its equity more than double. Although the ratio slightly decreases to 1.5 in 2020, it surges again in 2021 to 3.8, the highest point in the timeline, reflecting a substantial increase in the use of debt relative to equity.
- Overall Analysis
- The data reveals a strategy increasingly reliant on debt financing over the years, particularly from 2018 onward. While stockholders’ equity experienced growth until 2020, the subsequent drop in 2021 coupled with soaring debt levels has amplified the company's leverage significantly. This elevated debt to equity ratio in 2021 indicates heightened financial risk, potentially affecting the company's financial stability and access to capital markets.
Comparison to Competitors
Etsy Inc., debt to equity, long-term trends, comparison to competitors
| Etsy Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2021 | |||||
| Dec 31, 2020 | |||||
| Dec 31, 2019 | |||||
| Dec 31, 2018 | |||||
| Dec 31, 2017 | |||||
| Dec 31, 2016 | |||||
| Dec 31, 2015 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
Etsy Inc., debt to equity, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Etsy Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Comparison to Industry (Consumer Discretionary)
Etsy Inc., debt to equity, long-term trends, comparison to industry (consumer discretionary)
| Etsy Inc. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).