Knight Transportation Inc (KNX)

Debt-to-assets 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	1,290,020	1,561,710	1,475,200	1,016,260	1,067,670	1,174,010	1,157,620	1,194,160	1,297,550	1,538,020	354,219	414,063	508,907	170,000	365,000	365,000	0	364,766	364,707	364,649
Total assets	US$ in thousands	12,870,800	12,840,300	11,437,900	10,943,000	10,951,700	10,747,400	10,714,900	10,695,800	10,655,500	10,355,000	8,682,460	8,519,480	8,468,000	8,501,360	8,279,030	8,288,320	8,281,730	8,322,220	8,213,580	8,081,140
Debt-to-assets ratio		0.10	0.12	0.13	0.09	0.10	0.11	0.11	0.11	0.12	0.15	0.04	0.05	0.06	0.02	0.04	0.04	0.00	0.04	0.04	0.05

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 shown some fluctuations over the past eight quarters. The ratio has ranged from 0.13 to 0.18 during this period, indicating the proportion of the company's assets that are financed through debt.

In general, a lower debt-to-assets ratio suggests that the company has less reliance on debt financing to fund its operations and investments, which can be seen as a positive sign of financial stability and lower financial risk. On the other hand, a higher ratio may indicate a greater level of financial leverage and potential risk, as a higher percentage of the company's assets are financed through debt.

Overall, the trend for Knight-Swift Transportation Holdings Inc's debt-to-assets ratio has been relatively stable, with only modest fluctuations within a narrow range. This suggests that the company has been managing its debt levels effectively and maintaining a balanced capital structure over the past eight quarters.