CH Robinson Worldwide Inc (CHRW)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	1,420,490	920,049	1,393,650	1,093,300	1,092,450
Total stockholders’ equity	US$ in thousands	1,418,700	1,353,420	2,021,930	1,879,930	1,670,730
Debt-to-capital ratio		0.50	0.40	0.41	0.37	0.40

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,420,490K ÷ ($1,420,490K + $1,418,700K)
= 0.50

The debt-to-capital ratio of C.H. Robinson Worldwide, Inc. has shown variability over the past five years. The ratio decreased from 0.43 in 2019 to 0.37 in 2020, indicating a lower reliance on debt to finance its operations relative to its capital structure. Subsequently, there was a notable increase in the ratio to 0.49 in 2021, suggesting an uptick in the proportion of debt used in the capital structure. In 2022, the ratio further increased to 0.59, indicating a higher level of debt compared to capital. However, in 2023, there was a decrease in the ratio to 0.53, although it remained higher than in 2020.

Overall, the trend in the debt-to-capital ratio for C.H. Robinson Worldwide, Inc. suggests fluctuations in the company's capital structure and debt management practices over the years. It is important for investors and stakeholders to monitor changes in this ratio to assess the company's financial leverage and risk profile.