Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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Etsy Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2015
- Price to Earnings (P/E) since 2015
- Price to Operating Profit (P/OP) since 2015
- Analysis of Revenues
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Etsy Inc., consolidated statement of comprehensive income
US$ in thousands
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).
The financial data displays several significant trends over the five-year period ending in 2021. Net income shows a consistent upward trajectory with a notable acceleration in 2020 and 2021. Specifically, net income increased from 81,800 thousand US dollars in 2017 to 493,507 thousand US dollars in 2021, reflecting substantial growth and improved profitability.
The cumulative translation adjustment fluctuated during the first four years, starting with a negative value of -24,898 thousand US dollars in 2017, but turning positive to 14,468 thousand US dollars by 2020. However, in 2021 this figure declined sharply to -80,203 thousand US dollars, indicating significant foreign currency translation losses impacting comprehensive income in that year.
Unrealized gains and losses on marketable securities remained relatively small in magnitude compared to other components, with minor positive and negative fluctuations. After small positive values in 2017 and 2019-2020, this component turned negative in 2021, showing an unrealized loss of 762 thousand US dollars.
Other comprehensive income (loss) closely mirrors the pattern of the cumulative translation adjustment given that it encompasses this item along with unrealized gains or losses. It moves from a negative position in the initial years, reaching -24,851 thousand US dollars in 2017, to a positive 14,650 thousand US dollars in 2020 before declining sharply to -80,965 thousand US dollars in 2021. This pattern emphasizes the impact of translation adjustments on the overall comprehensive income.
Comprehensive income shows an overall increasing trend, moving from 56,949 thousand US dollars in 2017, rising substantially to 363,896 thousand US dollars in 2020, but then decreasing in 2021 to 412,542 thousand US dollars. Despite the drop from the previous year’s peak, comprehensive income in 2021 remains considerably higher than the levels observed in the earlier years.
- Net income
- Demonstrates strong growth, especially in 2020 and 2021, indicating improved profitability.
- Cumulative translation adjustment
- Shows volatility with a major negative impact in 2017 and 2021, suggesting currency exchange fluctuations affect financial results.
- Unrealized gains (losses) on marketable securities
- Relatively minor fluctuations, with a small unrealized loss noted in 2021.
- Other comprehensive income (loss)
- Reflects trends similar to cumulative translation adjustment, indicating the significance of foreign currency effects on total comprehensive income.
- Comprehensive income
- Overall increases notably over the period with a peak in 2020 followed by a slight decline in 2021, but maintaining a high level compared to earlier years.