Etsy, Inc. Financial Statements — ETSY Stock

Income Statement	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Sales/Revenue/Turnover	75	125	196	273	365	441	604	818	1,726	2,329	2,566	2,748	2,808
- Cost of Revenue	24	48	74	97	123	151	191	271	465	655	745	829	775
+ Cost of Goods & Services	24	48	74	97	123	151	191	271	465	655	745	829	775
+ Sales & Services Revenue	75	125	196	273	365	441	604	818	1,726	2,329	2,566	2,748	2,808
Gross Profit	50	77	122	177	242	290	413	547	1,261	1,675	1,822	1,920	2,034
- Operating Expenses	51	77	128	178	224	275	338	459	837	1,209	1,435	1,572	1,654
+ Research & Development	19	28	37	43	55	75	97	122	180	272	412	469	443
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Selling, General & Admin	33	49	92	136	168	201	241	337	657	937	1,023	1,102	1,211
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	-1	1	-6	-2	18	15	75	89	424	466	386	348	380
- Non-Operating (Income) Loss	1	1	4	26	21	-17	20	8	58	-6	1,048	55	-31
+ Interest Expense, Net	- -	- -	1	1	6	9	13	11	35	8	3	-22	-17
+ Interest Expense	- -	- -	1	2	7	11	22	24	42	10	14	14	14
- Interest Income	- -	- -	- -	- -	2	2	9	13	7	2	11	36	31
+ Other Non-Op (Income) Loss	1	- -	3	25	16	-26	6	-3	23	-14	1,045	77	-13
Pretax Income	-3	- -	-10	-28	-3	32	55	81	366	472	-662	293	411
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Income Tax Expense (Benefit)	- -	1	5	26	27	-50	-22	-15	16	-22	32	-15	107
Income (Loss) from Cont Ops	-2	-1	-15	-54	-30	82	77	96	349	494	-694	308	303
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-2	-1	-15	-54	-30	82	77	96	349	494	-694	308	303
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-2	-1	-15	-54	-30	82	77	96	349	494	-694	308	303
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-2	-1	-15	-54	-30	82	77	96	349	494	-694	308	303
Basic Weighted Avg Shares	94	94	111	91	114	119	120	120	121	127	127	123	- -
Basic EPS, GAAP	-0.03	-0.01	-0.14	-0.59	-0.26	0.69	0.64	0.8	2.88	3.88	-5.48	2.51	- -
Basic EPS from Cont Ops	-0.03	-0.01	-0.14	-0.59	-0.26	0.69	0.64	0.8	2.88	3.88	-5.48	2.51	- -
Diluted Weighted Avg Shares	94	94	111	91	114	122	127	126	136	147	127	140	- -
Diluted EPS, GAAP	-0.03	-0.01	-0.14	-0.59	-0.26	0.67	0.61	0.76	2.56	3.36	-5.48	2.19	- -
Diluted EPS from Cont Ops	-0.03	-0.01	-0.14	-0.59	-0.26	0.67	0.61	0.76	2.56	3.36	-5.48	2.19	- -
EBITDA	7	13	11	17	41	42	102	137	482	540	483	439	488
EBITDA Margin (%)	8.81	10.49	5.61	6.09	11.14	9.58	16.82	16.71	27.94	23.18	18.83	15.98	17.39
EBITA	-1	1	-6	-2	18	15	75	89	424	466	386	348	380
EBIT	-1	1	-6	-2	18	15	75	89	424	466	386	348	380
Gross Margin (%)	67.17	61.78	62.35	64.54	66.21	65.78	68.4	66.88	73.07	71.9	70.98	69.85	72.42
Operating Margin (%)	-1.82	0.59	-3.2	-0.69	4.97	3.41	12.39	10.85	24.57	20	15.06	12.66	13.54
Profit Margin (%)	-3.2	-0.64	-7.79	-19.77	-8.19	18.54	12.84	11.72	20.24	21.19	-27.06	11.19	10.8
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	8	12	17	19	23	27	27	48	58	74	97	91	108

Balance Sheet	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Total Current Assets	- -	77	127	359	371	439	680	921	1,895	1,342	1,514	1,570	1,328
+ Accounts & Notes Receiv	- -	16	26	40	56	78	33	65	169	247	262	290	198
+ Accounts Receivable, Net	- -	16	26	40	56	78	33	65	169	247	262	290	198
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash, Cash Equivalents & STI	- -	55	89	293	282	341	624	817	1,669	985	1,172	1,150	1,040
+ Cash & Cash Equivalents	- -	37	70	271	182	315	367	443	1,244	780	921	914	811
+ ST Investments	- -	18	19	22	100	25	257	374	425	204	250	236	228
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	- -	6	12	27	33	20	23	39	56	109	80	130	90
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	29	119	194	210	166	222	621	510	2,490	1,121	1,115	1,090
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	89	39	85	29	87	112
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	89	39	85	29	87	112
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip, Net	- -	23	76	105	126	118	120	145	112	275	250	250	237
- Accumulated Depreciation	- -	21	31	38	46	66	85	120	159	157	204	244	303
+ Property, Plant & Equip	- -	44	106	143	173	184	206	265	271	432	454	494	539
+ Other LT Assets	- -	6	44	89	84	49	101	387	358	2,130	842	778	742
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Intangible Assets	- -	6	36	31	43	43	72	338	328	1,978	673	596	551
+ Goodwill	- -	5	31	28	36	39	37	139	141	1,371	138	138	137
+ Other Intangible Assets	- -	- -	5	3	8	4	35	199	187	607	535	457	414
+ Misc LT Assets	- -	- -	7	58	41	6	29	49	30	152	169	183	191
Total Assets	- -	106	246	553	581	606	902	1,542	2,404	3,832	2,635	2,685	2,418
+ Payables & Accruals	- -	16	32	65	65	87	97	141	376	510	530	553	515
+ Other Payables & Accruals	- -	5	13	31	24	25	37	26	73	116	128	121	149
+ Accounts Payable	- -	11	19	34	41	58	48	76	188	248	263	295	216
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accrued Taxes	- -	- -	- -	- -	- -	4	12	39	115	146	140	137	151
+ ST Debt	- -	1	2	6	7	6	4	8	9	2	5	6	6
+ ST Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	1	2	6	7	6	4	8	9	2	5	6	6
+ Other ST Liabilities	- -	3	8	10	12	10	11	39	70	103	97	152	144
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	5	5	7	3	4	32	59	91	83	137	125
+ Deferred Revenue	- -	3	3	5	6	6	7	8	11	12	14	15	19
Total Current Liabilities	- -	19	41	80	84	102	112	189	455	616	632	711	665
+ LT Debt	- -	- -	53	59	63	64	339	839	1,107	2,386	2,385	2,383	2,382
+ LT Borrowings	- -	- -	- -	- -	- -	- -	276	785	1,062	2,275	2,280	2,284	2,288
+ LT Finance Leases	- -	- -	53	59	63	64	62	54	45	110	106	100	93
+ Other LT Liabilities	- -	83	84	83	90	42	50	108	100	202	165	135	130
+ Accrued Liabilities	- -	1	- -	61	65	24	30	64	58	79	45	13	8
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	82	84	22	25	18	20	44	42	122	120	122	122
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Liabilities	- -	83	138	142	152	106	389	947	1,207	2,588	2,550	2,518	2,512
Total Liabilities	- -	102	179	223	236	209	501	1,136	1,662	3,203	3,182	3,229	3,177
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	- -	21	103	406	443	500	562	643	883	632	815	1,081	1,323
+ Additional Paid in Capital	- -	21	103	406	443	499	562	643	883	632	815	1,081	1,323
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	- -	-17	-32	-86	-116	-96	-153	-227	-147	72	-1,048	-1,357	-1,784
+ Other Equity	- -	- -	-4	11	18	-6	-8	-9	6	-75	-314	-267	-298
Equity Before Minority Interest	- -	4	67	330	345	397	401	407	742	629	-547	-544	-759
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	- -	4	67	330	345	397	401	407	742	629	-547	-544	-759
Total Liabilities & Equity	- -	106	246	553	581	606	902	1,542	2,404	3,832	2,635	2,685	2,418
Shares Outstanding	- -	111	111	113	116	122	120	118	126	127	125	119	109
Capital Leases - Total	- -	1	55	65	69	70	66	62	54	113	110	106	100
Net Debt	- -	-37	-70	-271	-182	-315	-90	342	-182	1,495	1,358	1,369	1,477
Net Debt to Equity	- -	-919.19	-103.83	-82.07	-52.67	-79.48	-22.57	84.06	-24.49	237.86	-248.21	-251.88	-194.62
Tangible Common Equity Ratio	- -	-1.83	14.69	57.4	56.06	62.93	39.63	5.7	19.95	-72.81	-62.21	-54.51	-70.17
Current Ratio	- -	4	3.07	4.48	4.42	4.29	6.07	4.89	4.17	2.18	2.4	2.21	2
Cash Conversion Cycle	- -	-16.7	-33.43	-54.98	-62.26	-64.09	-67.56	-61.35	-78.78	-88.88	-89.01	-86.24	-88.63
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
+ Net Income	-2	-1	-15	-54	-30	82	77	96	349	494	-694	308	303
+ Depreciation & Amortization	8	12	17	19	23	27	27	48	58	74	97	91	108
+ Non-Cash Items	6	6	11	55	66	-40	35	53	147	60	1,241	330	261
+ Asset Impairment Charge	1	1	2	2	2	6	4	11	- -	- -	1,045	68	- -
+ Deferred Income Taxes	-1	- -	- -	13	27	-50	-22	-15	2	-89	-55	-50	-14
+ Other Non-Cash Adj	1	1	-1	30	20	-23	15	13	80	9	20	28	-7
+ Stock-Based Compensation	4	4	10	11	16	27	38	44	65	140	231	285	283
+ Chg in Non-Cash Work Cap	-1	-1	-1	13	-10	- -	59	10	124	24	40	-24	80
+ (Inc) Dec in Accts Receiv	-6	-8	-10	-16	-19	-22	41	-36	-113	-103	-35	-45	73
+ Inc (Dec) in Accts Payable	5	7	16	28	8	14	13	60	251	155	28	66	-38
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	-2	-6	- -	-1	3	-5	-14	-17	-44	24	-47	39
+ Inc (Dec) in Other	- -	2	-1	1	2	6	10	- -	3	17	24	3	6
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	10	17	12	33	48	69	199	207	679	652	684	706	752
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-14	-26	-10	-21	-48	-13	-56	-17	-8	-30	-37	-40	-43
+ Acq of Intangible Assets	- -	-9	- -	- -	- -	- -	-35	-2	-1	-2	-27	-27	-29
+ Acq of Fixed Prod Assets	-14	-17	-10	-21	-48	-13	-21	-15	-7	-28	-10	-13	-14
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	-15	3	-1	-2	-80	75	-229	-201	-3	172	7	-33	-10
+ Dec in LT Investment	1	3	21	24	81	137	285	461	496	591	278	309	321
+ Inc in LT Investment	-16	- -	-22	-26	-161	-62	-514	-662	-499	-419	-270	-343	-331
+ Net Cash From Acq & Div	- -	-1	-5	- -	-8	- -	- -	-270	- -	-1,700	- -	- -	- -
+ Cash for Acq of Subs	- -	-1	-5	- -	-8	- -	- -	-270	- -	-1,700	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	9	-5	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-29	-15	-21	-23	-135	62	-285	-488	-11	-1,558	-30	-73	-53
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	-1	-1	-1	-3	-6	-14	329	639	504	947	-6	-6	-6
+ Cash From Debt	- -	- -	- -	- -	- -	- -	345	650	650	1,000	- -	- -	- -
+ Repayments of Debt	-1	-1	-1	-3	-6	-14	-16	-11	-146	-53	-6	-6	-6
+ Cash (Repurchase) of Equity	- -	- -	35	199	- -	-10	-135	-177	-269	-303	-426	-577	-724
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	-10	-135	-177	-269	-303	-426	-577	-724
+ Increase in Capital Stock	- -	- -	35	199	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Financing Activities	44	1	12	- -	6	31	-50	-103	-116	-192	-74	-73	-57
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	43	- -	45	196	-1	7	144	360	119	453	-506	-657	-787
Effect of Foreign Exchange Rates	- -	- -	-4	-4	-2	-4	-6	-2	14	-10	-6	12	-15
Net Changes in Cash	24	1	37	206	-88	137	58	78	787	-454	147	-24	-88
Capital Expenditures	-14	-26	-10	-21	-48	-13	-56	-17	-8	-30	-37	-40	-43
EBITDA	7	13	11	17	41	42	102	137	482	540	483	439	488
EBITDA Margin (%)	8.81	10.49	5.61	6.09	11.14	9.58	16.82	16.71	27.94	23.18	18.83	15.98	17.39
Net Cash Paid for Acquisitions	- -	1	5	- -	8	- -	- -	270	- -	1,700	- -	- -	- -
Free Cash Flow	-4	-10	3	12	- -	56	143	190	671	621	646	666	709
Free Cash Flow to Firm	- -	-14	- -	- -	- -	- -	- -	- -	711	- -	- -	- -	719
Free Cash Flow to Equity	- -	-2	1	9	-6	42	507	831	1,175	1,571	667	686	732
Free Cash Flow per Basic Share	-0.05	-0.11	0.02	0.14	- -	0.47	1.19	1.59	5.53	4.88	5.1	5.43	- -
Price/Free Cash Flow	- -	- -	- -	13.94	13.98	30.4	23.71	24.85	35.33	47.11	21.07	15.24	- -
Cash Flow to Net Income	-4.06	-20.78	-0.79	-0.61	-1.6	0.84	2.57	2.16	1.94	1.32	-0.98	2.29	2.48

Etsy, Inc.

Income Statement

Balance Sheet

Cash Flow Statement