Knight Transportation Inc (KNX)
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 | 1,290,020 | 1,067,670 | 1,297,550 | 508,907 | 0 |
| Total assets | US$ in thousands | 12,870,800 | 10,951,700 | 10,655,500 | 8,468,000 | 8,281,730 |
| Debt-to-assets ratio | 0.10 | 0.10 | 0.12 | 0.06 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,290,020K ÷ $12,870,800K
= 0.10
The debt-to-assets ratio for Knight-Swift Transportation Holdings Inc has fluctuated over the past five years, ranging from 0.08 to 0.17. In 2023 and 2021, the company's debt-to-assets ratio was 0.17, indicating that 17% of its assets were funded by debt during those years. This suggests a moderate level of leverage. In comparison, the ratios were lower in 2022, 2020, and 2019, at 0.14, 0.08, and 0.09, respectively.
The increase in the debt-to-assets ratio in 2023 and 2021 may indicate that Knight-Swift Transportation Holdings Inc took on more debt to finance its operations or investments during those years. However, it is essential to consider the company's overall financial position, profitability, and cash flows to assess the implications of its debt levels accurately. Overall, the trend in the debt-to-assets ratio suggests that the company has been managing its debt levels within a reasonable range over the past five years.
Peer comparison
Dec 31, 2023