Allegiant Travel Company (ALGT)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	1,819,720	2,020,020	1,887,780	1,816,150	1,944,080	1,840,000	1,803,530	1,634,540	1,612,490	1,434,610	1,441,080	1,459,570	1,441,780	1,316,170	1,273,440	1,264,390	1,248,580	1,213,300	1,338,730	1,203,710
Total assets	US$ in thousands	4,869,410	4,912,340	4,829,550	4,680,420	4,511,300	4,410,960	4,410,960	4,437,870	3,991,070	3,766,750	3,874,710	3,345,200	3,258,920	3,223,090	3,272,970	3,191,910	3,010,800	2,834,480	2,982,200	2,750,480
Debt-to-assets ratio		0.37	0.41	0.39	0.39	0.43	0.42	0.41	0.37	0.40	0.38	0.37	0.44	0.44	0.41	0.39	0.40	0.41	0.43	0.45	0.44

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,819,720K ÷ $4,869,410K
= 0.37

Allegiant Travel's debt-to-assets ratio has shown relatively stable values over the past eight quarters, ranging from 0.42 to 0.47. This ratio measures the proportion of the company's assets that are financed by debt.

The trend indicates that around 42% to 47% of Allegiant Travel's assets are funded by debt. A higher debt-to-assets ratio suggests higher financial risk, as the company relies more on borrowed funds to finance its operations.

The slight fluctuations in the ratio over time may be attributed to changes in the company's debt levels or asset composition. A ratio of around 0.45 suggests that Allegiant Travel maintains a moderate level of debt relative to its total assets, which may indicate a balanced approach to capital structure.

Overall, the stability of the debt-to-assets ratio within a narrow range implies that Allegiant Travel has been consistent in managing its debt levels in relation to its asset base over the past two years.