Etsy Inc (ETSY)

Fixed asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	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
Revenue (ttm)	US$ in thousands	2,748,377	2,713,296	2,671,463	2,627,722	2,566,111	2,476,009	2,413,969	2,357,734	2,329,114	2,229,330	2,148,379	2,048,216	1,725,625	1,378,268	1,124,737	877,095	818,379	748,409	700,828	652,120
Property, plant and equipment	US$ in thousands	154,413	245,806	243,129	248,352	147,575	249,905	261,697	271,333	165,931	198,902	105,814	107,960	62,234	270,476	267,494	-131,114	205,252	153,262	128,409	131,650
Fixed asset turnover		17.80	11.04	10.99	10.58	17.39	9.91	9.22	8.69	14.04	11.21	20.30	18.97	27.73	5.10	4.20	—	3.99	4.88	5.46	4.95

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,748,377K ÷ $154,413K
= 17.80

Etsy Inc's fixed asset turnover has shown a generally positive trend over the past eight quarters, indicating an efficient utilization of fixed assets to generate revenue. The consistent increase in the fixed asset turnover ratio from Q1 2022 (8.69) to Q4 2023 (11.00) suggests improvement in the company's ability to generate sales from its investment in fixed assets. This demonstrates management's effectiveness in generating revenue with the resources invested in property, plant, and equipment. Overall, the increasing trend in fixed asset turnover reflects positively on Etsy Inc's operational efficiency and asset utilization.