Shenandoah Telecommunications Co (SHEN)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	652,670	654,363	649,425	642,780	638,007	642,511	643,370	644,329	642,275	642,852	682,110	628,507	577,051	548,182	511,457	480,650	468,135	477,839	464,034	454,599
Debt-to-equity ratio		0.45	0.23	0.19	0.15	0.12	0.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.32	1.42	1.47	1.46	1.55	1.60

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $292,804K ÷ $652,670K
= 0.45

The debt-to-equity ratio of Shenandoah Telecommunications Co. has shown a consistent upward trend over the past eight quarters, increasing from 0.01 in Q1 2022 to 0.46 in Q4 2023. This indicates that the company's reliance on debt as a source of financing has been growing relative to equity.

The substantial increase in the debt-to-equity ratio suggests that the company may be taking on more debt to finance its operations or investments, which could lead to increased financial risk. It is important to note that higher debt levels can potentially put pressure on the company's profitability and cash flow, especially during challenging economic conditions.

Investors and stakeholders should closely monitor Shenandoah Telecommunications Co.'s debt levels and its ability to manage and service its debt obligations to ensure the company remains financially stable in the long term.