Shenandoah Telecommunications Co (SHEN)

Financial leverage 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
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
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
Financial leverage ratio		1.86	1.62	1.58	1.57	1.53	1.44	1.39	1.37	1.39	2.01	3.10	3.31	3.51	3.65	3.68	3.85	4.06	3.87	3.93	3.96

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,214,230K ÷ $652,670K
= 1.86

The financial leverage ratio of Shenandoah Telecommunications Co. has been gradually increasing over the past several quarters, indicating a higher level of leverage in the company's capital structure. The trend suggests that the company has been relying more on debt financing to support its operations and investments.

In Q4 2023, the financial leverage ratio reached 1.86, the highest level in the provided data. This increase from the previous quarter indicates that the company has taken on more debt relative to its equity, potentially increasing its financial risk.

Overall, the company's increasing financial leverage ratio could be a cause for concern as higher levels of debt can lead to increased interest expenses and financial vulnerability in times of economic uncertainty. It is essential for investors and stakeholders to closely monitor Shenandoah Telecommunications Co.'s debt levels and its ability to manage and service its debt obligations effectively.