Sun Country Airlines Holdings Inc (SNCY)

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
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 stockholders’ equity	US$ in thousands	514,403	519,361	540,765	521,007	492,712	508,005	495,888	497,069	490,589	487,142	469,019	414,322
Debt-to-capital ratio		0.39	0.40	0.40	0.40	0.37	0.39	0.39	0.33	0.34	0.35	0.36	0.40

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $327,468K ÷ ($327,468K + $514,403K)
= 0.39

The debt-to-capital ratio of Sun Country Airlines Holdings Inc has been relatively stable over the past eight quarters, ranging from 0.53 to 0.57. This indicates that the company's proportion of debt to total capital has been consistent, with debt accounting for approximately 53% to 57% of its capital structure. A ratio in this range suggests that Sun Country Airlines has a moderate level of financial leverage, with a balance between debt and equity in funding its operations and investments. This consistency in the debt-to-capital ratio may imply that the company has been maintaining a prudent approach to managing its debt levels and capital structure over the analyzed period.