JB Hunt Transport Services Inc (JBHT)

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	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-equity ratio		0.32	0.30	0.31	0.26	0.34	0.35	0.28	0.29	0.30	0.32	0.47	0.48	0.50	0.52	0.55	0.57	0.57	0.59	0.64	0.58

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,326,110K ÷ $4,103,760K
= 0.32

J.B. Hunt Transport Services, Inc.'s debt-to-equity ratio has shown fluctuation over the past eight quarters. The ratio ranged from 0.33 to 0.40, indicating that the company has maintained a relatively conservative capital structure with a higher proportion of equity compared to debt during this period. The lowest ratio of 0.33 in Q1 2023 suggests that the company had lower debt levels relative to its equity at that time, possibly indicating a stronger financial position and lower financial risk. However, the ratio increased to 0.40 in Q1 2022, which may suggest a higher reliance on debt financing relative to equity during that period. Overall, the trend in J.B. Hunt's debt-to-equity ratio implies a prudent approach to managing its financial leverage and indicates a stable capital structure over the quarters analyzed.