Knight Transportation Inc (KNX)

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	1,290,020	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 stockholders’ equity	US$ in thousands	7,087,390	7,113,500	7,070,280	7,024,910	6,945,000	6,806,420	6,621,060	6,570,690	6,533,150	6,292,660	6,085,260	5,936,840	5,869,850	5,879,020	5,763,460	5,688,060	5,666,220	5,603,120	5,530,070	5,542,760
Debt-to-capital ratio		0.15	0.18	0.17	0.13	0.13	0.15	0.15	0.15	0.17	0.20	0.06	0.07	0.08	0.03	0.06	0.06	0.00	0.06	0.06	0.06

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,290,020K ÷ ($1,290,020K + $7,087,390K)
= 0.15

The debt-to-capital ratio of Knight-Swift Transportation Holdings Inc has exhibited some fluctuations over the past eight quarters. The ratio ranged from 0.17 to 0.25 during this period.

In Q1 2023, the ratio was at its lowest point of 0.17, indicating that the company had a relatively lower level of debt compared to its total capital. This suggests a stronger financial position in terms of leverage.

However, the ratio increased to 0.25 in Q3 2023, which was the highest level observed in the period. This implies that the company had a higher proportion of debt relative to its total capital in that particular quarter.

Overall, the debt-to-capital ratio of Knight-Swift Transportation Holdings Inc has shown some variability, but it has generally remained within a relatively stable range between 0.17 and 0.25 over the past eight quarters. It is important for stakeholders to monitor this ratio to assess the company's leverage and financial risk.