Knight Transportation Inc (KNX)

Financial leverage 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
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
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
Financial leverage ratio		1.82	1.81	1.62	1.56	1.58	1.58	1.62	1.63	1.63	1.65	1.43	1.44	1.44	1.45	1.44	1.46	1.46	1.49	1.49	1.46

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $12,870,800K ÷ $7,087,390K
= 1.82

The financial leverage ratio of Knight-Swift Transportation Holdings Inc has shown some fluctuations over the past eight quarters, ranging from 1.56 to 1.82. The ratio peaked at 1.82 in Q4 2023, indicating that the company has $1.82 in debt for every $1 of equity. This suggests that Knight-Swift relies more on debt financing to fund its operations and investments.

Overall, the company's financial leverage ratio has generally been above 1.5, demonstrating a moderate to high level of financial leverage. Investors and stakeholders should closely monitor changes in this ratio as it can impact the company's risk profile and financial health.