Ryder System Inc (R)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 3,069,000 | 2,937,000 | 2,798,000 | 2,256,000 | 2,476,000 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.08 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $3,069,000K)
= 0.00
The debt-to-capital ratio of Ryder System, Inc. has exhibited fluctuations over the past five years. The ratio was 0.76 in 2019, decreased to 0.75 in 2020, and subsequently decreased further to 0.70 in 2021. However, there was a slight increase to 0.68 in 2022, followed by another increase to 0.70 in 2023.
Overall, the trend suggests that Ryder System, Inc. has been actively managing its capital structure and debt levels over the years. The decrease in the ratio from 2019 to 2021 indicates a reduction in the proportion of debt in the company's capital structure. However, the subsequent increases in 2022 and 2023 suggest a slight uptick in the relative debt levels.
An increasing debt-to-capital ratio may indicate higher financial risk and leverage for the company, while a decreasing ratio may suggest a stronger financial position with a lower reliance on debt financing. It is important for investors and stakeholders to continue monitoring the debt-to-capital ratio and assess Ryder System, Inc.'s overall financial health and risk management strategies.
Peer comparison
Dec 31, 2023