Ryder System Inc (R)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | 227,000 |
| Total assets | US$ in thousands | 15,778,000 | 14,395,000 | 13,835,000 | 12,932,000 | 14,475,300 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $15,778,000K
= 0.00
The debt-to-assets ratio of Ryder System, Inc. has shown a decreasing trend from 0.55 in 2019 to 0.45 in 2023. This indicates that the company has been effectively managing its debt levels in relation to its total assets over the years. A lower debt-to-assets ratio generally signifies a lower financial risk for the company, as it indicates a smaller proportion of debt relative to its total assets.
The decreasing trend in the debt-to-assets ratio could be a positive signal for stakeholders as it suggests that the company may be reducing its reliance on debt financing or improving its asset base. A lower debt-to-assets ratio may also imply better financial health and stability for the company, as it may have more assets to cover its debts.
Overall, based on the data provided, the decreasing debt-to-assets ratio of Ryder System, Inc. reflects a potentially improving financial position and a more conservative capital structure strategy over the years.
Peer comparison
Dec 31, 2023