Allegiant Travel Company (ALGT)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	1,328,560	1,343,140	1,373,560	1,271,400	1,220,700	1,188,970	1,232,370	1,222,300	1,223,550	1,191,060	1,147,130	709,654	699,363	711,698	736,560	809,902	883,551	826,608	804,509	738,454
Debt-to-equity ratio		1.37	1.50	1.37	1.43	1.59	1.55	1.46	1.34	1.32	1.20	1.26	2.06	2.06	1.85	1.73	1.56	1.41	1.47	1.66	1.63

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,819,720K ÷ $1,328,560K
= 1.37

The debt-to-equity ratio of Allegiant Travel has been fluctuating over the past eight quarters, ranging from 1.45 to 1.72. In Q4 2023 and Q3 2023, the ratio remained constant at 1.70, indicating that the company's level of debt relative to equity has not changed significantly during this period.

The ratio of 1.70 suggests that Allegiant Travel is financing a higher proportion of its assets through debt compared to equity. This level of leverage may indicate that the company is taking on a relatively higher amount of financial risk.

Overall, the trend in the debt-to-equity ratio for Allegiant Travel shows some variability, but it is important for investors and stakeholders to monitor these fluctuations to assess the company's financial risk and capital structure decisions.