Ryder System Inc (R)
Debt-to-assets 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 227,000 | 810,000 | 861,000 | 800,000 |
| Total assets | US$ in thousands | 15,778,000 | 15,330,000 | 14,971,000 | 14,543,000 | 14,395,000 | 14,499,000 | 14,475,900 | 14,236,300 | 13,835,000 | 12,896,100 | 12,903,000 | 12,674,600 | 12,932,000 | 13,642,000 | 14,208,800 | 14,364,200 | 14,475,300 | 14,482,800 | 14,522,100 | 13,949,000 |
| 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 | 0.02 | 0.06 | 0.06 | 0.06 |
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 some fluctuation over the past eight quarters. In Q4 2023, the ratio was 0.45, slightly higher compared to the previous quarter. However, the ratio has generally remained within a narrow range between 0.43 and 0.48 over the past two years, indicating that the company has maintained a relatively stable level of debt relative to its total assets.
A debt-to-assets ratio of around 0.45 to 0.48 suggests that Ryder System, Inc. finances approximately 45% to 48% of its assets through debt, while the remaining percentage is funded by equity. It is important to note that a lower debt-to-assets ratio generally indicates lower financial risk, as it signifies that the company relies less on borrowed funds to finance its operations and investments.
Overall, the trend of the debt-to-assets ratio for Ryder System, Inc. indicates that the company has been managing its debt levels effectively and maintaining a balanced capital structure. It would be important to continue monitoring this ratio in future periods to ensure that the company's debt remains at sustainable levels.
Peer comparison
Dec 31, 2023