Sun Country Airlines Holdings Inc (SNCY)

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
Long-term debt	US$ in thousands	327,468	351,766	365,211	346,065	294,687	324,662	319,733	242,544	248,014	266,985	267,684	274,109
Total assets	US$ in thousands	1,623,630	1,601,070	1,634,620	1,581,730	1,524,410	1,521,440	1,506,740	1,419,590	1,380,420	1,342,310	1,309,960	1,244,200
Debt-to-assets ratio		0.20	0.22	0.22	0.22	0.19	0.21	0.21	0.17	0.18	0.20	0.20	0.22

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $327,468K ÷ $1,623,630K
= 0.20

The debt-to-assets ratio of Sun Country Airlines Holdings Inc has shown relatively stability over the past eight quarters, ranging between 0.39 and 0.44. This ratio indicates the proportion of the company's total debt to its total assets.

With an average debt-to-assets ratio of approximately 0.42 over this period, it suggests that around 42% of Sun Country Airlines Holdings Inc's total assets are financed by debt. This indicates a moderate level of leverage, with a slightly increasing trend in the most recent quarters.

It is important to note that a higher debt-to-assets ratio typically indicates a higher financial risk as the company is relying more on debt to finance its assets. However, in the case of Sun Country Airlines Holdings Inc, the ratio has remained relatively steady around 0.42, suggesting a stable balance between debt and assets.

Overall, the debt-to-assets ratio for Sun Country Airlines Holdings Inc indicates a moderate level of indebtedness and financial risk, which is important for investors and creditors to consider when analyzing the company's financial position.