SkyWest Inc (SKYW)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	2,562,180	2,941,770	2,717,420	2,801,540	2,628,990
Total stockholders’ equity	US$ in thousands	2,113,500	2,347,630	2,267,510	2,139,540	2,175,010
Debt-to-capital ratio		0.55	0.56	0.55	0.57	0.55

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,562,180K ÷ ($2,562,180K + $2,113,500K)
= 0.55

The debt-to-capital ratio of Skywest Inc. has been relatively stable over the past five years, ranging from 0.58 to 0.60. This ratio indicates the proportion of the company's capital that is financed by debt, with values above 0.50 suggesting a higher reliance on debt. The consistent ratio indicates that Skywest has maintained a balance between debt and equity in its capital structure. This stability can be seen as a positive sign of financial discipline and risk management by the company, as it has not significantly increased its debt levels relative to its capital over the years. However, it is important for investors and stakeholders to monitor this ratio in conjunction with other financial metrics to assess the overall financial health and leverage position of Skywest Inc.