Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Etsy Inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Etsy Inc. debt to equity ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Etsy Inc. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Etsy Inc. debt to capital ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Etsy Inc. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Etsy Inc. debt to assets ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Etsy Inc. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Etsy Inc. financial leverage ratio decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Etsy Inc. interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Etsy Inc. fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021. |
Debt to Equity
Etsy Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Finance lease obligations, current | 2,418) | 8,537) | 8,275) | 3,884) | 5,798) | |
| Finance lease obligations, net of current portion | 110,283) | 44,979) | 53,611) | 2,095) | 4,115) | |
| Facility financing obligation | —) | —) | —) | 59,991) | 60,049) | |
| Long-term debt, net | 2,275,418) | 1,062,299) | 785,126) | 276,486) | —) | |
| Total debt | 2,388,119) | 1,115,815) | 847,012) | 342,456) | 69,962) | |
| Stockholders’ equity | 628,619) | 742,424) | 406,634) | 400,898) | 396,894) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 3.80 | 1.50 | 2.08 | 0.85 | 0.18 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Amazon.com Inc. | 0.54 | 0.66 | 0.83 | — | — | |
| Home Depot Inc. | 11.29 | — | — | — | — | |
| Lowe’s Cos. Inc. | 15.16 | 9.79 | 4.45 | — | — | |
| TJX Cos. Inc. | 1.04 | 0.38 | 0.44 | — | — | |
| Debt to Equity, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 0.93 | 1.17 | 1.44 | — | — | |
| Debt to Equity, Industry | ||||||
| Consumer Discretionary | 1.57 | 2.27 | 2.45 | — | — | |
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).
1 2021 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 2,388,119 ÷ 628,619 = 3.80
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Etsy Inc. debt to equity ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Debt to Equity (including Operating Lease Liability)
Etsy Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Finance lease obligations, current | 2,418) | 8,537) | 8,275) | 3,884) | 5,798) | |
| Finance lease obligations, net of current portion | 110,283) | 44,979) | 53,611) | 2,095) | 4,115) | |
| Facility financing obligation | —) | —) | —) | 59,991) | 60,049) | |
| Long-term debt, net | 2,275,418) | 1,062,299) | 785,126) | 276,486) | —) | |
| Total debt | 2,388,119) | 1,115,815) | 847,012) | 342,456) | 69,962) | |
| Operating lease obligations, current (included in Other current liabilities) | 4,018) | 4,516) | 4,134) | —) | —) | |
| Operating lease obligations, net of current portion (included in Other liabilities) | 43,746) | 17,202) | 22,322) | —) | —) | |
| Total debt (including operating lease liability) | 2,435,883) | 1,137,533) | 873,468) | 342,456) | 69,962) | |
| Stockholders’ equity | 628,619) | 742,424) | 406,634) | 400,898) | 396,894) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 3.87 | 1.53 | 2.15 | 0.85 | 0.18 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Amazon.com Inc. | 0.96 | 1.08 | 1.25 | — | — | |
| Home Depot Inc. | 13.16 | — | — | — | — | |
| Lowe’s Cos. Inc. | 18.24 | 12.04 | 4.45 | — | — | |
| TJX Cos. Inc. | 2.66 | 1.93 | 0.44 | — | — | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Consumer Discretionary Distribution & Retail | 1.46 | 1.76 | 1.82 | — | — | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Consumer Discretionary | 1.93 | 2.70 | 2.71 | — | — | |
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).
1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 2,435,883 ÷ 628,619 = 3.87
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Etsy Inc. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Debt to Capital
Etsy Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Finance lease obligations, current | 2,418) | 8,537) | 8,275) | 3,884) | 5,798) | |
| Finance lease obligations, net of current portion | 110,283) | 44,979) | 53,611) | 2,095) | 4,115) | |
| Facility financing obligation | —) | —) | —) | 59,991) | 60,049) | |
| Long-term debt, net | 2,275,418) | 1,062,299) | 785,126) | 276,486) | —) | |
| Total debt | 2,388,119) | 1,115,815) | 847,012) | 342,456) | 69,962) | |
| Stockholders’ equity | 628,619) | 742,424) | 406,634) | 400,898) | 396,894) | |
| Total capital | 3,016,738) | 1,858,239) | 1,253,646) | 743,354) | 466,856) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.79 | 0.60 | 0.68 | 0.46 | 0.15 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Amazon.com Inc. | 0.35 | 0.40 | 0.45 | — | — | |
| Home Depot Inc. | 0.92 | 1.11 | 1.07 | — | — | |
| Lowe’s Cos. Inc. | 0.94 | 0.91 | 0.82 | — | — | |
| TJX Cos. Inc. | 0.51 | 0.27 | 0.31 | — | — | |
| Debt to Capital, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 0.48 | 0.54 | 0.59 | — | — | |
| Debt to Capital, Industry | ||||||
| Consumer Discretionary | 0.61 | 0.69 | 0.71 | — | — | |
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).
1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 2,388,119 ÷ 3,016,738 = 0.79
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Etsy Inc. debt to capital ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Debt to Capital (including Operating Lease Liability)
Etsy Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Finance lease obligations, current | 2,418) | 8,537) | 8,275) | 3,884) | 5,798) | |
| Finance lease obligations, net of current portion | 110,283) | 44,979) | 53,611) | 2,095) | 4,115) | |
| Facility financing obligation | —) | —) | —) | 59,991) | 60,049) | |
| Long-term debt, net | 2,275,418) | 1,062,299) | 785,126) | 276,486) | —) | |
| Total debt | 2,388,119) | 1,115,815) | 847,012) | 342,456) | 69,962) | |
| Operating lease obligations, current (included in Other current liabilities) | 4,018) | 4,516) | 4,134) | —) | —) | |
| Operating lease obligations, net of current portion (included in Other liabilities) | 43,746) | 17,202) | 22,322) | —) | —) | |
| Total debt (including operating lease liability) | 2,435,883) | 1,137,533) | 873,468) | 342,456) | 69,962) | |
| Stockholders’ equity | 628,619) | 742,424) | 406,634) | 400,898) | 396,894) | |
| Total capital (including operating lease liability) | 3,064,502) | 1,879,957) | 1,280,102) | 743,354) | 466,856) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.79 | 0.61 | 0.68 | 0.46 | 0.15 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Amazon.com Inc. | 0.49 | 0.52 | 0.56 | — | — | |
| Home Depot Inc. | 0.93 | 1.09 | 1.07 | — | — | |
| Lowe’s Cos. Inc. | 0.95 | 0.92 | 0.82 | — | — | |
| TJX Cos. Inc. | 0.73 | 0.66 | 0.31 | — | — | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Consumer Discretionary Distribution & Retail | 0.59 | 0.64 | 0.65 | — | — | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Consumer Discretionary | 0.66 | 0.73 | 0.73 | — | — | |
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).
1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 2,435,883 ÷ 3,064,502 = 0.79
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Etsy Inc. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Debt to Assets
Etsy Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Finance lease obligations, current | 2,418) | 8,537) | 8,275) | 3,884) | 5,798) | |
| Finance lease obligations, net of current portion | 110,283) | 44,979) | 53,611) | 2,095) | 4,115) | |
| Facility financing obligation | —) | —) | —) | 59,991) | 60,049) | |
| Long-term debt, net | 2,275,418) | 1,062,299) | 785,126) | 276,486) | —) | |
| Total debt | 2,388,119) | 1,115,815) | 847,012) | 342,456) | 69,962) | |
| Total assets | 3,831,809) | 2,404,489) | 1,542,352) | 901,851) | 605,583) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.62 | 0.46 | 0.55 | 0.38 | 0.12 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Amazon.com Inc. | 0.18 | 0.19 | 0.23 | — | — | |
| Home Depot Inc. | 0.53 | 0.61 | 0.66 | — | — | |
| Lowe’s Cos. Inc. | 0.47 | 0.49 | 0.47 | — | — | |
| TJX Cos. Inc. | 0.20 | 0.09 | 0.16 | — | — | |
| Debt to Assets, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 0.24 | 0.26 | 0.31 | — | — | |
| Debt to Assets, Industry | ||||||
| Consumer Discretionary | 0.37 | 0.42 | 0.44 | — | — | |
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).
1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 2,388,119 ÷ 3,831,809 = 0.62
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Etsy Inc. debt to assets ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Debt to Assets (including Operating Lease Liability)
Etsy Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Finance lease obligations, current | 2,418) | 8,537) | 8,275) | 3,884) | 5,798) | |
| Finance lease obligations, net of current portion | 110,283) | 44,979) | 53,611) | 2,095) | 4,115) | |
| Facility financing obligation | —) | —) | —) | 59,991) | 60,049) | |
| Long-term debt, net | 2,275,418) | 1,062,299) | 785,126) | 276,486) | —) | |
| Total debt | 2,388,119) | 1,115,815) | 847,012) | 342,456) | 69,962) | |
| Operating lease obligations, current (included in Other current liabilities) | 4,018) | 4,516) | 4,134) | —) | —) | |
| Operating lease obligations, net of current portion (included in Other liabilities) | 43,746) | 17,202) | 22,322) | —) | —) | |
| Total debt (including operating lease liability) | 2,435,883) | 1,137,533) | 873,468) | 342,456) | 69,962) | |
| Total assets | 3,831,809) | 2,404,489) | 1,542,352) | 901,851) | 605,583) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.64 | 0.47 | 0.57 | 0.38 | 0.12 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Amazon.com Inc. | 0.31 | 0.31 | 0.34 | — | — | |
| Home Depot Inc. | 0.62 | 0.73 | 0.66 | — | — | |
| Lowe’s Cos. Inc. | 0.56 | 0.60 | 0.47 | — | — | |
| TJX Cos. Inc. | 0.50 | 0.47 | 0.16 | — | — | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Consumer Discretionary Distribution & Retail | 0.38 | 0.40 | 0.39 | — | — | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Consumer Discretionary | 0.45 | 0.50 | 0.49 | — | — | |
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).
1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 2,435,883 ÷ 3,831,809 = 0.64
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Etsy Inc. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Financial Leverage
Etsy Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total assets | 3,831,809) | 2,404,489) | 1,542,352) | 901,851) | 605,583) | |
| Stockholders’ equity | 628,619) | 742,424) | 406,634) | 400,898) | 396,894) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 6.10 | 3.24 | 3.79 | 2.25 | 1.53 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Amazon.com Inc. | 3.04 | 3.44 | 3.63 | — | — | |
| Home Depot Inc. | 21.39 | — | — | — | — | |
| Lowe’s Cos. Inc. | 32.52 | 20.02 | 9.47 | — | — | |
| TJX Cos. Inc. | 5.28 | 4.06 | 2.84 | — | — | |
| Financial Leverage, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 3.82 | 4.44 | 4.62 | — | — | |
| Financial Leverage, Industry | ||||||
| Consumer Discretionary | 4.27 | 5.43 | 5.59 | — | — | |
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).
1 2021 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 3,831,809 ÷ 628,619 = 6.10
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Etsy Inc. financial leverage ratio decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level. |
Interest Coverage
Etsy Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income | 493,507) | 349,246) | 95,894) | 77,491) | 81,800) | |
| Add: Income tax expense | (21,853) | 16,463) | (15,248) | (22,413) | (49,535) | |
| Add: Interest expense | 9,885) | 42,025) | 24,320) | 22,178) | 11,130) | |
| Earnings before interest and tax (EBIT) | 481,539) | 407,734) | 104,966) | 77,256) | 43,395) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 48.71 | 9.70 | 4.32 | 3.48 | 3.90 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Amazon.com Inc. | 22.09 | 15.69 | 9.73 | — | — | |
| Home Depot Inc. | 13.60 | 13.25 | 14.85 | — | — | |
| Lowe’s Cos. Inc. | 9.88 | 8.83 | 6.21 | — | — | |
| TJX Cos. Inc. | 1.46 | 75.57 | 65.36 | — | — | |
| Interest Coverage, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 15.91 | 14.50 | 11.71 | — | — | |
| Interest Coverage, Industry | ||||||
| Consumer Discretionary | 10.79 | 6.23 | 9.81 | — | — | |
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).
1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= 481,539 ÷ 9,885 = 48.71
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Etsy Inc. interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021. |
Fixed Charge Coverage
Etsy Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income | 493,507) | 349,246) | 95,894) | 77,491) | 81,800) | |
| Add: Income tax expense | (21,853) | 16,463) | (15,248) | (22,413) | (49,535) | |
| Add: Interest expense | 9,885) | 42,025) | 24,320) | 22,178) | 11,130) | |
| Earnings before interest and tax (EBIT) | 481,539) | 407,734) | 104,966) | 77,256) | 43,395) | |
| Add: Operating lease cost | 6,320) | 5,847) | 5,405) | 3,800) | 4,100) | |
| Earnings before fixed charges and tax | 487,859) | 413,581) | 110,371) | 81,056) | 47,495) | |
| Interest expense | 9,885) | 42,025) | 24,320) | 22,178) | 11,130) | |
| Operating lease cost | 6,320) | 5,847) | 5,405) | 3,800) | 4,100) | |
| Fixed charges | 16,205) | 47,872) | 29,725) | 25,978) | 15,230) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 30.11 | 8.64 | 3.71 | 3.12 | 3.12 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Amazon.com Inc. | 5.24 | 4.63 | 3.65 | — | — | |
| Home Depot Inc. | 8.97 | 8.26 | 7.80 | — | — | |
| Lowe’s Cos. Inc. | 6.05 | 5.04 | 3.68 | — | — | |
| TJX Cos. Inc. | 1.04 | 3.43 | 3.39 | — | — | |
| Fixed Charge Coverage, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 5.29 | 5.11 | 4.46 | — | — | |
| Fixed Charge Coverage, Industry | ||||||
| Consumer Discretionary | 5.00 | 3.18 | 4.31 | — | — | |
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).
1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 487,859 ÷ 16,205 = 30.11
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Etsy Inc. fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021. |