Marten Transport Ltd (MRTN)

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	757,386	749,357	740,020	721,511	703,919	682,437	660,157	648,762	651,677	630,087	653,641	634,978	620,333	644,708	629,398	609,380	597,589	582,857	602,390	587,737
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

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $757,386K)
= 0.00

Based on the data provided for Marten Transport, Ltd., the debt-to-capital ratio has consistently been reported as 0.00 across all quarters from Q1 2022 to Q4 2023. A debt-to-capital ratio of 0.00 indicates that the company has not utilized any debt in its capital structure during this period. This suggests that Marten Transport, Ltd. has been financing its operations and growth primarily through equity rather than debt. It implies that the company may have a strong financial position with minimal financial leverage and lower financial risk associated with debt obligations. However, it is essential to consider other financial metrics and qualitative factors to gain a comprehensive understanding of the company's overall financial health and performance.