Knight Transportation Inc (KNX)
Solvency ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.79 | 1.82 | 1.78 | 1.79 | 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 |
Knight Transportation Inc has consistently shown very low levels of leverage and debt in its capital structure, as evidenced by its solvency ratios. The Debt-to-Assets ratio, the Debt-to-Capital ratio, and the Debt-to-Equity ratio have all been at 0.00 throughout the period of analysis, indicating that the company has not relied on significant debt to finance its operations and investments.
Furthermore, the Financial Leverage ratio has also remained relatively stable, with values ranging from 1.43 to 1.82 during the period. This indicates that Knight Transportation has maintained a conservative approach to financing, with a low level of financial leverage relative to its equity.
Overall, Knight Transportation Inc's solvency ratios suggest a strong financial position with minimal financial risk, as the company's capital structure is characterized by a low level of debt relative to its assets and equity.
Coverage ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 1.25 | 1.08 | 1.17 | 1.61 | 2.89 | 5.41 | 9.18 | 14.08 | 21.09 | 31.54 | 39.31 | 45.26 | 45.83 | 46.68 | 52.39 | 42.53 | 33.11 | 23.76 | 16.42 | 15.23 |
Knight Transportation Inc's interest coverage ratio has shown a steady and strong improvement over the last few years. Starting from a robust level of 15.23 in March 2020, the company's interest coverage ratio increased consistently, reaching a peak of 52.39 in June 2021. This indicates the company's ability to comfortably meet its interest obligations with its earnings.
However, the interest coverage ratio started declining from the peak in September 2021, possibly indicating changes in the company's financial structure or profitability. Despite the decrease, the ratio remained relatively healthy, staying above 20 until December 2022. The interest coverage ratio then showed a more significant decline, dropping below 10 in March 2023, which could suggest potential challenges in covering interest expenses with operating income.
As of December 31, 2024, Knight Transportation Inc's interest coverage ratio stands at 1.25, reflecting a significant decline compared to the peak levels observed earlier. This low ratio may raise concerns about the company's ability to cover its interest payments adequately with its operating earnings. Further analysis is needed to understand the reasons behind this downward trend and assess the company's overall financial health.