Certainly.
I can also touch my toes (actually, touch the floor with my first knuckle), deep knee bend, and lotus position (though not for too long, since I passed forty…)
I was able to do that for a week or two when I was about eight years old. After spending two months stretching my leg tendons with exercises. Then I quit the stretching and my legs reverted. I walk oddly (toe-ward) because those tendons in the back of my legs are naturally short – old friends have recognized me by the way I walk. I mean, I think if I put a lot of serious effort into it, I could loosen my legs up enough to do that, but I need motivation to do that.
Same - including the lotus position. And deep hip stretches. I’m reasonably flexible and have pretty good balance.
I’m right now at my kids’ martial arts class, watching the exercises.
Sensei, who’s probably about 20, demonstrating a move that starts with a deep squat. His heels are coming off the floor.
8 kids copying him. Two beautifully natural flat foot squatters. Followed by six pairs of heels in the air. Age range about 8 to 11
So I kept vaguely researching this topic and came up with a couple of great posts on the subject, including actual peer-reviewed science, on why toddlers can all deep squat, but not all adults and what you can do about it
TLDR version - body shape and ankles, basically.
Most surprising result - about 20% of Japanese men can’t do it either. Whether that extends to other asian countries I don’t know.