Strategic Education Inc (STRA)

Financial leverage 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
Total assets	US$ in thousands	2,125,210	2,114,100	2,142,110	2,165,770	2,161,750	2,215,250	2,260,260	2,367,880	2,305,880	2,316,120	2,363,310	2,369,440	2,295,810	2,047,320	1,791,560	1,783,820	1,789,410	1,781,200	1,784,570	1,775,390
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
Financial leverage ratio		1.29	1.33	1.34	1.34	1.32	1.39	1.37	1.37	1.35	1.37	1.36	1.36	1.31	1.20	1.21	1.22	1.22	1.23	1.24	1.25

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,125,210K ÷ $1,652,520K
= 1.29

The financial leverage ratio of Strategic Education Inc has been relatively stable over the past eight quarters, fluctuating between 1.29 and 1.39. This ratio indicates the company's level of debt relative to its equity, with a higher ratio suggesting higher financial leverage and potential risk.

The slight fluctuations seen in the ratio over the quarters may indicate changes in the company's capital structure and borrowing levels. A decreasing trend from Q3 2022 to Q1 2023 followed by a slight increase suggests a potential deleveraging or reduction in the company's debt levels followed by a stabilization or a possible shift back towards higher leverage.

Overall, with a range of 1.29 to 1.39, Strategic Education Inc appears to maintain a moderate level of financial leverage, balancing debt and equity in its capital structure. Investors and stakeholders may monitor this ratio over time to assess the company's leverage position and financial risk.