Etsy Inc (ETSY)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	-543,715	-547,274	628,619	742,424	406,634
Debt-to-capital ratio		—	—	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $-543,715K)
= —

The debt-to-capital ratio of Etsy Inc has shown a fluctuating trend over the past five years. In 2023, the ratio stood at 1.29, slightly lower than the previous year's 1.30. This indicates that the company's level of debt relative to its total capital has remained relatively stable.

Looking back to 2021, there was a significant increase in the debt-to-capital ratio to 0.79, followed by a further rise in 2022 to 1.30. These spikes suggest that Etsy Inc took on more debt in those years compared to the previous and subsequent years.

In 2020 and 2019, the ratios were 0.60 and 0.68, respectively, showing a lower level of debt relative to capital compared to the more recent years.

Overall, the trend in Etsy Inc's debt-to-capital ratio indicates some variability in the company's capital structure and financing decisions over the years, with a recent increase in leverage that may warrant further analysis and monitoring.