Hub Group Inc (HUBG)

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	245,574	240,724	177,479	176,797	186,934
Total assets	US$ in thousands	2,936,050	2,810,080	2,437,290	2,105,400	1,991,570
Debt-to-assets ratio		0.08	0.09	0.07	0.08	0.09

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $245,574K ÷ $2,936,050K
= 0.08

The debt-to-assets ratio of Hub Group, Inc. has remained relatively stable over the past five years, with values ranging from 0.11 to 0.14. This ratio indicates that, on average, the company's debt represents about 11% to 14% of its total assets during this period. In 2021 and 2022, the ratio was consistently at 0.11 and 0.12, respectively, suggesting a prudent level of debt management. In 2020, the ratio increased slightly to 0.13, indicating a temporary increase in debt relative to assets. However, this was followed by a decrease in 2023 back to 0.12, bringing the ratio closer to its historical levels. The consistent maintenance of a relatively low debt-to-assets ratio signifies that Hub Group, Inc. has a conservative approach to financing its operations and investments, which can provide stability and financial flexibility to the company.