CSX Corporation (CSX)
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 | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 12,133,000 | 12,625,000 | 13,500,000 | 13,110,000 | 11,863,000 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $12,133,000K)
= 0.00
The debt-to-capital ratio of CSX Corp has been fluctuating over the past five years, ranging from 0.55 to 0.60. The ratio indicates the proportion of the company's capital that is financed through debt. A higher debt-to-capital ratio suggests that the company relies more on debt to finance its operations and investments, which can increase financial risk.
From 2019 to 2021, there was a decreasing trend in the debt-to-capital ratio, indicating a reduction in the company's reliance on debt for financing. However, in 2023, the ratio increased slightly to 0.60, suggesting that the company may have taken on more debt relative to its capital.
Overall, a debt-to-capital ratio of around 0.60 suggests that CSX Corp has a moderate level of debt in its capital structure, which may be manageable depending on the company's ability to generate sufficient cash flows to service its debt obligations. Investors and analysts should monitor changes in this ratio over time to assess the company's financial health and risk profile.
Peer comparison
Dec 31, 2023