Shenandoah Telecommunications Co (SHEN)

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	292,804	147,494	123,795	98,655	74,306	24,869	—	—	0	—	—	—	0	0	672,601	680,531	688,464	696,378	719,067	726,970
Total assets	US$ in thousands	1,214,230	1,058,710	1,027,460	1,006,640	977,719	922,458	891,417	883,251	890,733	1,293,090	2,115,230	2,082,310	2,024,400	2,001,300	1,880,580	1,850,780	1,898,900	1,850,870	1,822,040	1,799,710
Debt-to-assets ratio		0.24	0.14	0.12	0.10	0.08	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.36	0.37	0.36	0.38	0.39	0.40

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $292,804K ÷ $1,214,230K
= 0.24

The debt-to-assets ratio for Shenandoah Telecommunications Co. has been gradually increasing over the past eight quarters, indicating a higher proportion of debt relative to the company's total assets.

In Q4 2022, the ratio was at 0.03, which suggests that only 3% of the company's assets were financed by debt. However, this ratio has steadily climbed over the subsequent quarters, reaching 0.25 in Q4 2023, indicating that 25% of the company's assets are now financed by debt.

This upward trend in the debt-to-assets ratio may signal that Shenandoah Telecommunications Co. has been relying more on debt to fund its operations or expansion activities. While a higher debt-to-assets ratio can boost returns for shareholders during times of growth, it also implies an increased financial risk as the company has a higher debt burden to service.

It would be prudent for stakeholders and investors to closely monitor Shenandoah Telecommunications Co.'s debt levels and their ability to manage debt repayment obligations efficiently to ensure the company's long-term financial stability and health.