Saia Inc (SAIA)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	1,941,490	1,849,460	1,746,220	1,650,940	1,579,340	1,506,480	1,403,760	1,291,490	1,220,330	1,144,730	1,063,160	997,618	961,288	918,466	875,090	843,387	815,226	792,371	757,502	717,650
Debt-to-capital ratio		0.01	0.01	0.01	0.02	0.02	0.02	0.03	0.03	0.04	0.05	0.05	0.06	0.07	0.12	0.16	0.22	0.14	0.17	0.19	0.17

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 remained relatively stable over the past eight quarters. The ratio has consistently been in the range of 0.01 to 0.03, indicating that the company maintains a low level of debt in comparison to its total capital. This suggests that Saia Inc. has a conservative approach to financing its operations, relying more on equity than debt to fund its activities. Overall, the consistent low debt-to-capital ratio indicates a healthy financial position and a lower risk of financial distress for Saia Inc.