Allegiant Travel Company (ALGT)

Debt-to-equity ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	1,611,740	1,767,250	1,733,250	1,789,580	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
Total stockholders’ equity	US$ in thousands	1,089,390	1,299,900	1,333,040	1,322,160	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
Debt-to-equity ratio		1.48	1.36	1.30	1.35	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

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,611,740K ÷ $1,089,390K
= 1.48

The debt-to-equity ratio of Allegiant Travel Company has shown fluctuations over the past few years. Starting at 1.56 on March 31, 2020, the ratio increased steadily to reach its peak at 2.06 on both December 31, 2020, and March 31, 2021. Subsequently, there was a notable decline in the ratio to 1.20 on September 30, 2021. This decline was followed by a gradual increase to 1.59 by December 31, 2022.

During the next few quarters, the ratio fluctuated within a range, showing slight variations but generally staying between 1.30 and 1.50. The ratio stood at 1.48 by the end of December 31, 2024, suggesting that Allegiant Travel Company maintained a moderate level of debt in relation to equity at that time. Overall, the trend in the debt-to-equity ratio indicates some level of leverage in the company's capital structure but also reflects some stability in managing its debt obligations.