Understand The Balance Sheet

Total assets rose 46% last year, while total liabilities went up 66% (still growing book value at 19.1%).

Total liabilities went up so much due to 'Payables to users' and 'Securities Loaned' rising, so this isn't a large concern.

They still have a nice debt ratio of almost 2:1.

They have no longterm debt, and only ~$7b in shorterm debt