Saia Inc (SAIA)

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	16,100	31,200	50,800	71,200	136,500
Total stockholders’ equity	US$ in thousands	1,941,490	1,579,340	1,220,330	961,288	815,226
Debt-to-capital ratio		0.01	0.02	0.04	0.07	0.14

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $16,100K ÷ ($16,100K + $1,941,490K)
= 0.01

The debt-to-capital ratio of Saia Inc. has shown a declining trend over the past five years, decreasing from 0.14 in 2019 to 0.01 in 2023. This indicates that the company has been successful in reducing its reliance on debt to finance its operations and investments relative to its capital base.

A lower debt-to-capital ratio suggests that Saia Inc. is less leveraged and has a stronger financial position, as a smaller portion of its capital structure is comprised of debt. This can be favorable in terms of financial stability and risk management, as the company is less vulnerable to fluctuations in interest rates or economic downturns that may impact its ability to service debt obligations.

Overall, the declining trend in the debt-to-capital ratio of Saia Inc. reflects prudent financial management and a conservative approach to capital structure, which may be viewed positively by investors and creditors alike.