Etsy Inc (ETSY)

Total 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
Total assets	US$ in thousands	2,685,400	2,449,200	2,568,750	2,500,540	2,634,960	2,450,310	3,607,100	3,745,180	3,831,810	3,502,140	3,290,420	2,497,410	2,404,490	2,214,500	1,762,030	1,517,640	1,542,350	1,499,200	1,021,780	981,168
Total asset turnover		1.02	1.11	1.04	1.05	0.97	1.01	0.67	0.63	0.61	0.64	0.65	0.82	0.72	0.62	0.64	0.58	0.53	0.50	0.69	0.66

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,748,377K ÷ $2,685,400K
= 1.02

Etsy Inc's total asset turnover ratio has shown fluctuations over the past eight quarters. The ratio indicates how efficiently the company is utilizing its assets to generate revenue. In Q4 2023, the total asset turnover was 1.02, slightly lower than the previous quarter's 1.11. This suggests that Etsy Inc generated $1.02 in revenue for every $1 of assets during that period, indicating a moderate efficiency in asset utilization.

Comparing the Q4 2023 ratio with the same quarter of the previous year (0.97), there has been an improvement in asset turnover, indicating enhanced efficiency in generating revenue from its assets. The trend shows that Etsy Inc's asset turnover has generally been above 1, except for Q2 and Q3 2022 when the ratios were notably lower at 0.67 and 0.63, respectively.

Overall, the company has demonstrated a satisfactory level of efficiency in utilizing its assets to generate revenue, with the most recent quarters showing relatively stable performance in this regard. Continuing to maintain or improve this ratio can contribute to Etsy Inc's overall financial health and profitability.