Saia Inc (SAIA)

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	16,100	18,500	21,500	26,700	31,200	34,800	39,300	44,800	50,800	55,400	61,300	66,200	71,200	121,100	161,100	236,000	136,500	165,500	179,700	148,300
Total assets	US$ in thousands	2,583,560	2,485,320	2,337,110	2,242,800	2,174,710	2,140,320	2,047,860	1,932,350	1,845,250	1,789,260	1,647,400	1,610,580	1,548,770	1,565,680	1,538,200	1,577,260	1,415,690	1,422,270	1,352,120	1,246,860
Debt-to-assets ratio		0.01	0.01	0.01	0.01	0.01	0.02	0.02	0.02	0.03	0.03	0.04	0.04	0.05	0.08	0.10	0.15	0.10	0.12	0.13	0.12

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $16,100K ÷ $2,583,560K
= 0.01

Saia Inc.'s debt-to-assets ratio has remained relatively stable at 0.01 for the most recent four quarters, indicating that the company maintains a low level of debt compared to its total assets. This suggests that Saia Inc. is financially stable and has a strong asset base to support its operations.

Comparing to the previous year, there was a slight increase in the debt-to-assets ratio from 0.01 in Q4 2022 to 0.02 in Q3 2022, which was maintained throughout the following quarters of 2022 but then improved back to 0.01 in 2023. This temporary increase could indicate a shift in the company's capital structure during Q3 2022, but the subsequent return to the lower ratio suggests that the company may have taken steps to reduce its debt levels or increase its asset base.

Overall, Saia Inc.'s consistent low debt-to-assets ratio indicates a conservative approach to financing and a strong financial position, which could enhance investor confidence and reduce financial risk for the company.