Saia Inc (SAIA)
Solvency ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.01 | 0.01 | 0.03 | 0.05 |
| Debt-to-capital ratio | 0.00 | 0.01 | 0.02 | 0.04 | 0.07 |
| Debt-to-equity ratio | 0.00 | 0.01 | 0.02 | 0.04 | 0.07 |
| Financial leverage ratio | 1.37 | 1.33 | 1.38 | 1.51 | 1.61 |
Saia Inc's solvency ratios demonstrate a consistently strong financial position over the years. The Debt-to-assets ratio has declined steadily from 0.05 in 2020 to 0.00 in 2024, indicating a lower level of debt relative to total assets. Similarly, the Debt-to-capital ratio and Debt-to-equity ratio show a decreasing trend from 0.07 and 0.07 respectively in 2020 to 0.00 for both ratios in 2024, reflecting an improved ability to cover debt obligations with capital and equity.
Furthermore, the Financial leverage ratio has also decreased from 1.61 in 2020 to 1.37 in 2024, suggesting a reduction in the company's reliance on debt financing. Overall, these solvency ratios depict a solid financial footing for Saia Inc, with decreasing debt levels and improving leverage metrics over the years.
Coverage ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Interest coverage | 54.30 | 184.92 | 180.26 | 104.60 | 35.05 |
The interest coverage ratio of Saia Inc has shown a strong upward trend over the past five years. In December 2020, the ratio stood at 35.05, indicating that the company was able to cover its interest expenses 35 times over with its earnings before interest and taxes (EBIT).
By December 2021, the interest coverage ratio had significantly improved to 104.60, highlighting the company's enhanced ability to meet its interest obligations comfortably. This trend continued into December 2022 and December 2023, with ratios of 180.26 and 184.92, respectively, depicting a substantial increase in the company's financial stability and solvency.
However, there was a slight decline in the interest coverage ratio by December 2024, which dropped to 54.30. Although this ratio is still above 1, indicating that the company is generating enough earnings to cover its interest expenses, the decrease from the previous year warrants further analysis to understand the factors influencing this change.
Overall, Saia Inc's interest coverage ratio has shown a positive trajectory, reflecting the company's improving ability to meet its interest obligations and suggesting a stronger financial position relative to its debt obligations.