CSX Corporation (CSX)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 42,408,000 | 41,912,000 | 40,531,000 | 39,793,000 | 38,257,000 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $42,408,000K
= 0.00
The debt-to-assets ratio of CSX Corp. has shown a slight upward trend over the past five years, increasing from 0.42 in 2019 to 0.44 in 2023, indicating that the company's proportion of debt in relation to its total assets has been gradually rising. Although the ratio fluctuated between 0.40 and 0.43 from 2020 to 2022, the increase in 2023 suggests a higher dependency on debt to finance its operations or investments.
A debt-to-assets ratio of 0.44 implies that approximately 44% of CSX Corp.'s total assets are financed through debt, while the remaining 56% is covered by equity. This moderate level of leverage indicates a balanced capital structure, where the company relies on a mix of debt and equity to fund its operations and growth initiatives.
It is important to note that debt-to-assets ratio should be analyzed in conjunction with other financial metrics and industry benchmarks to assess CSX Corp.'s overall financial health and risk profile. Furthermore, monitoring changes in this ratio over time can provide insights into the company's capital management strategies and potential organizational shifts in its financing decisions.
Peer comparison
Dec 31, 2023