Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
Doing some research...
Over 2021–2024 ETSY’s total assets declined materially from $3,831.8M in 2021 to $2,417.8M in 2024 (≈‑36.9%). The drop occurred mostly between 2021 and 2022 (to $2,635.0M) with a small rebound in 2023 to $2,685.4M before another decline in 2024. Total liabilities were relatively stable across the period (≈$3,203M in 2021 → $3,176.6M in 2024), peaking modestly at $3,229.1M in 2023. The combination of falling assets and broadly steady liabilities produced a dramatic deterioration in stockholders’ equity: from a positive $628.6M in 2021 to negative equity of $‑758.9M in 2024 (a swing of about $1.39B). Notably the equity position flipped to negative in 2022 and remained negative thereafter, worsening again in 2024. That persistent negative equity is the most important signal here — liabilities exceed assets by roughly $759M at year‑end 2024, which raises solvency and covenant risk and could constrain access to credit or increase borrowing costs. In an e‑commerce/marketplace business like Etsy, declines in assets could reflect shrinking cash balances, inventory reductions, asset write‑downs or goodwill impairments, while steady liabilities suggest the company has not significantly delevered as assets fell. The 2025 row shows zeros for all fields and appears to be missing data, so no inference should be drawn for that year without corrected figures. Further analysis (income statement and cash flows, details of non‑current items and share repurchases/impairments) would clarify drivers of the equity deterioration and the near‑term financial flexibility.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.