Strategic Education Inc (STRA)

Debt-to-equity 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	61,400	61,247	101,309	101,344	101,396	141,234	141,437	141,743	141,630	141,593	141,748	141,798	141,823	—	—	—	0	—	—	—
Total stockholders’ equity	US$ in thousands	1,652,520	1,594,750	1,598,610	1,610,430	1,635,790	1,598,480	1,651,920	1,724,310	1,713,990	1,695,060	1,733,180	1,735,920	1,748,320	1,705,060	1,484,550	1,459,150	1,462,710	1,444,660	1,437,880	1,423,440
Debt-to-equity ratio		0.04	0.04	0.06	0.06	0.06	0.09	0.09	0.08	0.08	0.08	0.08	0.08	0.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $61,400K ÷ $1,652,520K
= 0.04

The debt-to-equity ratio of Strategic Education Inc has remained relatively stable over the past eight quarters, ranging from 0.04 to 0.09. This ratio indicates a low level of financial leverage, as the company's debt levels are minimal compared to its equity. The downward trend observed from Q2 2022 to Q1 2023 suggests a potential improvement in the company's financial position, as it reduced its reliance on debt financing during this period. Overall, the consistent low debt-to-equity ratio reflects a conservative financial strategy, which may indicate a lower risk of financial distress for the company.