KAR Auction Services Inc (KAR)

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	202,400	201,400	201,000	206,000	205,300	194,700	190,700	939,800	1,849,700	1,850,700	1,851,800	1,852,800	1,853,800	1,854,800	1,856,900	1,860,100	1,861,300	1,863,000	1,390,800	2,650,900
Total stockholders’ equity	US$ in thousands	1,327,000	1,305,600	1,334,400	1,525,900	1,518,300	1,534,400	1,628,900	1,515,900	1,513,000	1,482,700	1,501,300	1,587,500	1,615,800	1,607,000	1,554,500	1,571,800	1,650,200	1,635,800	1,752,600	1,502,500
Debt-to-equity ratio		0.15	0.15	0.15	0.14	0.14	0.13	0.12	0.62	1.22	1.25	1.23	1.17	1.15	1.15	1.19	1.18	1.13	1.14	0.79	1.76

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $202,400K ÷ $1,327,000K
= 0.15

The debt-to-equity ratio of Openlane Inc. has shown fluctuations over the past eight quarters. In Q4 2023, the ratio stood at 1.03, indicating that the company had slightly more debt relative to equity. This ratio was relatively stable compared to the previous quarter but slightly higher than the levels seen in Q1 and Q4 2022.

Overall, the trend in the debt-to-equity ratio suggests that Openlane Inc. has been relying more on debt financing in recent quarters. It is important to note that a ratio above 1 signifies that the company has more debt than equity, which could indicate higher financial risk.

Further analysis and monitoring of this ratio over subsequent quarters will be important to assess the company's financial leverage and management of debt levels, as well as its overall financial health and risk profile.