Tegna Inc (TGNA)

Financial leverage ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total assets	US$ in thousands	7,000,060	7,328,900	6,917,650	6,848,700	6,953,980
Total stockholders’ equity	US$ in thousands	2,704,870	3,071,720	2,519,910	2,058,100	1,590,380
Financial leverage ratio		2.59	2.39	2.75	3.33	4.37

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $7,000,060K ÷ $2,704,870K
= 2.59

The financial leverage ratio of TEGNA Inc has exhibited a fluctuating trend over the past five years. The ratio decreased from 4.37 in 2019 to 3.33 in 2020, indicating a reduction in the company's reliance on debt to finance its operations during that period. Subsequently, the ratio decreased further to 2.75 in 2021, reflecting a continued effort to decrease financial leverage.

However, in 2022, the financial leverage ratio slightly increased to 2.39, suggesting a slight uptick in the company's reliance on debt compared to the previous year. This increase was followed by a notable jump to 2.59 in 2023, indicating a significant increase in financial leverage compared to the preceding year.

Overall, the trend in TEGNA Inc's financial leverage ratio highlights a recent increase in the company's reliance on debt to support its operations, after a period of decreasing leverage. It is essential for stakeholders to carefully monitor this metric to assess the company's capital structure and risk profile.