Heartland Express Inc (HTLD)

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	290,696	334,796	336,177	352,645	399,062	447,374	8,623	—	0	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	865,260	861,130	872,937	866,619	855,477	840,889	817,902	742,528	727,102	708,816	741,766	722,417	724,334	721,709	702,615	684,688	684,659	673,135	653,329	631,827
Debt-to-equity ratio		0.34	0.39	0.39	0.41	0.47	0.53	0.01	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
= $290,696K ÷ $865,260K
= 0.34

The debt-to-equity ratio for Heartland Express, Inc. has displayed fluctuating trends over the past eight quarters. The ratio has ranged from a low of 0.00 in Q1 2022 to a high of 0.55 in Q3 2022, indicating varying levels of leverage during this period.

From Q1 2022 to Q4 2022, there was a significant increase in the debt-to-equity ratio, reaching its peak of 0.55 in Q3 2022. This suggests that the company may have taken on more debt relative to its equity during this period.

However, in the following quarters, there was a notable decline in the ratio, dropping to 0.35 in Q4 2023. This decrease could indicate a reduction in debt or an increase in equity, or a combination of both, resulting in a lower level of financial leverage.

Overall, the debt-to-equity ratio of Heartland Express, Inc. has shown variability, reflecting changes in the capital structure and financial risk profile of the company over the analyzed period. Investors and stakeholders may need to closely monitor future trends in this ratio to assess the company's sustainable growth and financial stability.