Schneider National Inc (SNDR)

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	190,000	135,000	—	—	304,600
Total stockholders’ equity	US$ in thousands	2,956,800	2,837,200	2,423,800	2,055,500	2,236,400
Debt-to-capital ratio		0.06	0.05	0.00	0.00	0.12

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $190,000K ÷ ($190,000K + $2,956,800K)
= 0.06

The debt-to-capital ratio of Schneider National Inc has shown fluctuations over the past five years. In 2019, the ratio was at its highest at 0.12, indicating a higher reliance on debt to finance the company's operations relative to its capital. In the subsequent two years, the ratio decreased significantly to 0.00, suggesting a shift towards a debt-free capital structure.

However, in 2022 and 2023, the debt-to-capital ratio slightly increased to 0.05 and 0.06, respectively. This uptrend indicates a moderate increase in the company's utilization of debt compared to capital for funding its operations. Overall, Schneider National Inc's debt-to-capital ratio has demonstrated variability in recent years, highlighting the company's changing approach to debt management and capital structure. It is essential for stakeholders to monitor these trends closely to assess the company's financial health and risk profile.