Schneider National Inc (SNDR)

Debt-to-equity 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-equity ratio		0.06	0.05	0.00	0.00	0.14

December 31, 2023 calculation

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

The debt-to-equity ratio of Schneider National Inc has shown a fluctuating trend over the past five years. In 2019, the ratio was highest at 0.14, indicating a significant level of debt relative to equity. Subsequently, there was a considerable reduction in the ratio in 2020 and 2021, with both years showing a ratio of 0.00, which suggests a period of minimal debt in relation to equity.

However, starting in 2022, there was a slight increase in the debt-to-equity ratio to 0.05, indicating a small proportion of debt compared to equity. This trend continued into 2023, with the ratio further rising to 0.06. While the ratio remains relatively low, the increasing trend in the past two years suggests that the company may be taking on more debt compared to equity, which could indicate a shift in its financial leverage strategy.