Ryder System Inc (R)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Total stockholders’ equity | US$ in thousands | 3,069,000 | 3,097,000 | 3,096,000 | 3,005,000 | 2,937,000 | 3,011,000 | 2,833,000 | 2,649,000 | 2,798,000 | 2,513,650 | 2,418,210 | 2,279,690 | 2,256,000 | 2,150,560 | 2,159,090 | 2,242,740 | 2,476,000 | 2,476,990 | 2,607,710 | 2,566,800 |
| Financial leverage ratio | 5.14 | 4.95 | 4.84 | 4.84 | 4.90 | 4.82 | 5.11 | 5.37 | 4.94 | 5.13 | 5.34 | 5.56 | 5.73 | 6.34 | 6.58 | 6.40 | 5.85 | 5.85 | 5.57 | 5.43 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $15,778,000K ÷ $3,069,000K
= 5.14
The financial leverage ratio of Ryder System, Inc. has shown fluctuations over the past eight quarters, ranging from 4.82 to 5.38. This ratio measures the level of debt financing used by the company to support its operations and indicates the proportion of the company's assets that are financed by debt.
The trend indicates that there was an increase in leverage in Q2 2023, which persisted in Q3 2023, but slightly decreased in Q4 2023. Overall, the company has maintained a relatively high level of leverage compared to previous periods.
A higher financial leverage ratio suggests that the company relies more on debt to finance its operations, which can amplify the company's returns when profits are high but also poses higher financial risk in times of economic downturns or fluctuations in interest rates.
Investors and stakeholders should closely monitor this ratio to assess the company's ability to meet its debt obligations and manage financial risk effectively in the long term.
Peer comparison
Dec 31, 2023