Heartland Express Inc (HTLD)
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 | 290,696 | 399,062 | 0 | — | — |
| Total assets | US$ in thousands | 1,509,650 | 1,669,490 | 928,542 | 951,176 | 898,931 |
| Debt-to-assets ratio | 0.19 | 0.24 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $290,696K ÷ $1,509,650K
= 0.19
The debt-to-assets ratio of Heartland Express, Inc. has shown a fluctuating trend over the past five years. In 2023, the ratio stands at 0.20, indicating that the company relies on debt to finance 20% of its assets. This represents a decrease from the previous year, where the ratio was 0.25.
Notably, the company had no debt relative to its assets in 2021, 2020, and 2019, with the ratio being 0.00 for those respective years. This suggests that the company was operating with a conservative capital structure during those periods, avoiding significant leverage in its operations.
The recent increase in the debt-to-assets ratio in 2023 may signify a strategic shift towards utilizing debt as a financing source for growth opportunities or operational requirements. It is essential for stakeholders to closely monitor this ratio in subsequent periods to assess the company's ability to manage its debt levels effectively while optimizing the use of its assets.
Peer comparison
Dec 31, 2023