SkyWest Inc (SKYW)

Debt-to-capital 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	2,562,180	2,633,710	2,743,800	2,855,520	2,941,770	2,982,030	2,864,480	2,791,270	2,717,420	2,605,060	2,652,260	2,748,720	2,801,540	2,707,770	2,664,120	2,537,610	2,628,990	2,622,240	2,719,040	2,734,320
Total stockholders’ equity	US$ in thousands	2,113,500	2,136,700	2,157,240	2,232,060	2,347,630	2,395,950	2,345,030	2,289,720	2,267,510	2,261,810	2,248,900	2,181,520	2,139,540	2,185,100	2,142,960	2,163,440	2,175,010	2,116,260	2,052,240	2,000,570
Debt-to-capital ratio		0.55	0.55	0.56	0.56	0.56	0.55	0.55	0.55	0.55	0.54	0.54	0.56	0.57	0.55	0.55	0.54	0.55	0.55	0.57	0.58

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 remained relatively stable around the 0.59 to 0.60 range over the past eight quarters. This indicates that the company typically finances approximately 59% to 60% of its capital structure through debt. The consistency in this ratio suggests that Skywest Inc. has maintained a balanced approach in utilizing debt as a source of funding for its operations and investments. From a financial stability standpoint, a debt-to-capital ratio around 0.60 typically indicates that the company has a moderate level of leverage, which could be considered acceptable depending on industry norms and the company's specific circumstances. Overall, the trend in the debt-to-capital ratio for Skywest Inc. shows a steady and disciplined approach to managing its capital structure.