Etsy Inc (ETSY)

Receivables 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
Receivables	US$ in thousands	24,734	19,410	22,594	26,274	27,888	21,765	20,133	20,645	27,266	23,884	20,283	22,991	22,605	16,311	16,527	11,712	15,386	12,494	10,585	10,789
Receivables turnover		111.12	139.79	118.24	100.01	92.01	113.76	119.90	114.20	85.42	93.34	105.92	89.09	76.34	84.50	68.05	74.89	53.19	59.90	66.21	60.44

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,748,377K ÷ $24,734K
= 111.12

Based on the data provided, Etsy Inc's receivables turnover ratio has shown some fluctuations over the past eight quarters. The receivables turnover ratio measures how efficiently a company is able to collect on its credit sales during a specific period.

In Q4 2023, the receivables turnover ratio was 111.12, indicating that Etsy Inc collected its accounts receivable approximately 111 times during that quarter. This represents a decrease from the previous quarter's figure of 139.79. The downward trend in Q4 2023 could suggest that the company took longer to collect on its credit sales compared to the prior quarter.

Looking at the year-on-year comparison, Q4 2023's receivables turnover ratio of 111.12 is higher than Q4 2022's ratio of 92.01, which indicates an improvement in the company's ability to collect on its receivables compared to the same quarter in the previous year.

Overall, while there has been some quarterly variation in Etsy Inc's receivables turnover ratio, the company has generally maintained a relatively high turnover rate, which is a favorable sign of efficient accounts receivable management. However, it is important for investors to monitor any significant changes in this ratio to assess the company's liquidity and credit management practices effectively.