Saia Inc (SAIA)

Debt-to-equity 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-equity ratio		0.01	0.02	0.04	0.07	0.17

December 31, 2023 calculation

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

The debt-to-equity ratio of Saia Inc. has shown a decreasing trend over the past five years. The ratio has declined from 0.17 in 2019 to 0.01 in 2023, indicating that the company's reliance on debt as a source of financing has substantially decreased. This downward trend suggests that Saia Inc. has been reducing its debt levels relative to its equity, which can be viewed as a positive sign of financial health and stability. The decreasing debt-to-equity ratio implies that the company is becoming less leveraged and may be better positioned to withstand economic downturns or financial challenges. Overall, the trend in the debt-to-equity ratio for Saia Inc. reflects a conservative approach to financing and indicates a strengthening financial position over the past five years.