CSX Corporation (CSX)
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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 12,133,000 | 11,954,000 | 12,274,000 | 12,334,000 | 12,625,000 | 12,883,000 | 13,141,000 | 13,195,000 | 13,500,000 | 13,172,000 | 13,434,000 | 13,160,000 | 13,110,000 | 12,727,000 | 12,163,000 | 11,888,000 | 11,863,000 | 11,879,000 | 12,290,000 | 12,445,000 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $12,133,000K
= 0.00
The debt-to-equity ratio of CSX Corp. has been varying over the past eight quarters, ranging from 1.23 to 1.54. Generally, a higher debt-to-equity ratio indicates higher financial leverage and potential higher financial risk.
In Q4 2023, the debt-to-equity ratio increased slightly to 1.53 compared to the previous quarter. Although the ratio remains above 1, suggesting that the company has more debt than equity, the increase may indicate a recent increase in debt relative to equity.
It is notable that the debt-to-equity ratio has been consistently above 1 in all quarters, indicating that CSX Corp. relies more on debt financing than equity financing, which can potentially amplify returns but also increase financial risk.
Further analysis of the trend in the debt-to-equity ratio over time and in comparison with industry peers would provide a deeper understanding of CSX Corp.'s capital structure and financial health.
Peer comparison
Dec 31, 2023