Etsy Inc (ETSY)

Debt-to-capital ratio

		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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	-543,715	-622,528	-464,175	-540,188	-547,274	-606,242	581,295	676,867	628,619	533,622	530,753	683,774	742,424	666,667	524,175	406,847	406,634	389,262	442,301	420,013
Debt-to-capital ratio		—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	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 fluctuated over the past eight quarters, ranging from 0.78 to 1.35. In Q4 2023, the ratio stood at 1.29, indicating that debt represented 129% of the company's total capital. This was slightly lower than the previous quarter's ratio of 1.35, suggesting a slight improvement in the company's debt position.

It is notable that the company experienced a significant increase in its debt-to-capital ratio in the first half of 2022, with ratios of 1.34 and 1.30 in Q3 and Q4 2022, respectively. However, in Q2 2022, there was a notable decline to 0.80, indicating a temporary decrease in debt relative to capital. This was followed by another low ratio of 0.78 in Q1 2022, signaling a relatively strong capital position with minimal debt.

Overall, while there have been fluctuations in the debt-to-capital ratio of Etsy Inc, the company has generally maintained a ratio above 1, indicating that its debt levels have consistently exceeded its capital. Investors and stakeholders may need to monitor these trends closely to assess the company's leverage and financial health.