Name: Etsy Inc. (NASDAQ:ETSY) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Etsy Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	780,196)	1,244,099)	443,293)	366,985)	315,442)
Short-term investments	204,416)	425,119)	373,959)	257,302)	25,108)
Accounts receivable, net	27,266)	22,605)	15,386)	12,244)	33,677)
Prepaid and other current assets	109,417)	56,152)	38,614)	22,686)	20,379)
Funds receivable and seller accounts	220,206)	146,806)	49,786)	21,072)	44,658)
Current assets	1,341,501)	1,894,781)	921,038)	680,289)	439,264)
Restricted cash	5,341)	5,341)	5,341)	5,341)	5,341)
Property and equipment, net	275,062)	112,495)	144,864)	120,179)	117,617)
Goodwill	1,371,064)	140,810)	138,731)	37,482)	38,541)
Intangible assets, net	607,170)	187,449)	199,236)	34,589)	4,100)
Deferred tax assets	95,863)	115)	14,257)	23,464)	159)
Long-term investments	85,034)	39,094)	89,343)	—)	—)
Other assets	50,774)	24,404)	29,542)	507)	561)
Non-current assets	2,490,308)	509,708)	621,314)	221,562)	166,319)
Total assets	3,831,809)	2,404,489)	1,542,352)	901,851)	605,583)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Total assets exhibited consistent and accelerated growth from 2017 to 2021, increasing from 605.6 million USD to 3.83 billion USD. This expansion reflects a significant transformation in the balance sheet composition, transitioning from a primarily liquid-asset base to one heavily weighted toward non-current assets by the end of the period.

Liquidity and Current Asset Trends: Current assets grew steadily from 2017, peaking in 2020 at 1.89 billion USD before contracting to 1.34 billion USD in 2021. This peak was primarily driven by a surge in cash and cash equivalents, which rose from 315.4 million USD in 2017 to a high of 1.24 billion USD in 2020. However, a notable reduction in both cash and short-term investments occurred in 2021, suggesting a strategic reallocation of liquid capital toward long-term investments or acquisitions.
Strategic Asset Acquisition and Intangibles: A profound shift in the asset structure is observed in 2021, characterized by a massive increase in non-current assets, which rose from 509.7 million USD in 2020 to 2.49 billion USD in 2021. This growth is almost entirely attributable to a surge in goodwill and intangible assets. Goodwill increased from 140.8 million USD in 2020 to 1.37 billion USD in 2021, while net intangible assets rose from 187.4 million USD to 607.2 million USD over the same period. These patterns are indicative of significant acquisition activity during the 2021 fiscal year.
Operational Asset Growth: Funds receivable and seller accounts demonstrated a strong upward trajectory, increasing from 44.7 million USD in 2017 to 220.2 million USD in 2021. This growth suggests an expansion in transaction volume and a larger seller ecosystem. Additionally, net property and equipment saw a substantial increase in 2021, rising to 275.1 million USD from 112.5 million USD in the previous year, indicating increased investment in physical or technological infrastructure.
Deferred Tax and Other Assets: Deferred tax assets showed volatility throughout the period, peaking in 2021 at 95.9 million USD after having fallen to a negligible 115 thousand USD in 2020. Other assets and long-term investments also trended generally upward, though they remained minor contributors to the overall asset base compared to the dominant growth in goodwill and cash equivalents.

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