Hub Group Inc (HUBG)

Financial leverage 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
Total assets	US$ in thousands	2,936,050	2,918,130	2,800,040	2,887,980	2,810,080	2,752,660	2,679,240	2,547,130	2,437,290	2,291,480	2,186,220	2,154,770	2,105,400	2,064,970	1,999,180	2,094,610	1,991,570	1,910,680	1,930,120	1,931,310
Total stockholders’ equity	US$ in thousands	1,634,640	1,629,070	1,610,740	1,659,050	1,599,600	1,517,380	1,535,190	1,426,970	1,340,310	1,255,120	1,207,080	1,176,500	1,157,920	1,135,010	1,105,840	1,088,710	1,075,280	1,044,560	1,032,580	1,007,060
Financial leverage ratio		1.80	1.79	1.74	1.74	1.76	1.81	1.75	1.78	1.82	1.83	1.81	1.83	1.82	1.82	1.81	1.92	1.85	1.83	1.87	1.92

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,936,050K ÷ $1,634,640K
= 1.80

The financial leverage ratio of Hub Group, Inc. has shown some variability over the past eight quarters. The ratio has ranged from a low of 1.74 in Q2 and Q1 of 2023 to a high of 1.81 in Q3 of 2022. In general, the ratio has been relatively stable, fluctuating within a narrow range of 1.74 to 1.81. A financial leverage ratio of 1.80 in Q4 of 2023 indicates that the company is utilizing a higher level of debt to finance its assets compared to the industry average. This suggests that Hub Group, Inc. may have a higher level of financial risk due to its increased reliance on debt financing. It would be advisable for the company to monitor its financial leverage ratio closely and ensure that it maintains a healthy balance between debt and equity to support its long-term financial sustainability.