JB Hunt Transport Services Inc (JBHT)

Debt-to-capital 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	1,326,110	1,195,710	1,195,310	991,710	1,261,740	1,243,810	945,999	945,628	945,257	944,887	1,303,470	1,301,430	1,305,420	1,303,350	1,307,020	1,302,760	1,295,740	1,293,310	1,372,140	1,284,550
Total stockholders’ equity	US$ in thousands	4,103,760	4,018,100	3,911,920	3,797,370	3,666,770	3,505,110	3,324,860	3,253,540	3,117,820	2,922,230	2,799,030	2,722,070	2,600,140	2,487,420	2,390,840	2,282,420	2,267,030	2,193,530	2,135,360	2,203,760
Debt-to-capital ratio		0.24	0.23	0.23	0.21	0.26	0.26	0.22	0.23	0.23	0.24	0.32	0.32	0.33	0.34	0.35	0.36	0.36	0.37	0.39	0.37

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,326,110K ÷ ($1,326,110K + $4,103,760K)
= 0.24

The debt-to-capital ratio of J.B. Hunt Transport Services, Inc. has been relatively stable over the past eight quarters, ranging from 0.25 to 0.28. This indicates that the company's reliance on debt as a source of financing compared to its total capital (debt + equity) has remained consistent. A debt-to-capital ratio of 0.25 to 0.28 suggests that the company is using a moderate amount of debt to fund its operations, while also maintaining a significant portion of its capital through equity. Overall, the consistent trend in the debt-to-capital ratio implies that J.B. Hunt Transport Services, Inc. has been managing its debt levels effectively and maintaining a balanced capital structure.