Tegna Inc (TGNA)

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	7,000,060	7,195,050	7,115,270	7,394,040	7,328,900	7,124,130	6,965,480	6,853,740	6,917,650	6,930,650	6,843,100	6,857,810	6,848,700	6,945,000	6,928,420	6,894,100	6,953,980	6,902,240	5,412,690	5,323,750
Total stockholders’ equity	US$ in thousands	2,704,870	2,960,540	2,904,160	3,151,260	3,071,720	2,878,260	2,741,720	2,618,850	2,519,910	2,419,710	2,258,960	2,139,340	2,058,100	1,799,540	1,675,310	1,658,260	1,590,380	1,521,700	1,479,740	1,405,250
Financial leverage ratio		2.59	2.43	2.45	2.35	2.39	2.48	2.54	2.62	2.75	2.86	3.03	3.21	3.33	3.86	4.14	4.16	4.37	4.54	3.66	3.79

December 31, 2023 calculation

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

The financial leverage ratio measures the extent to which a company relies on debt financing. A higher ratio indicates higher financial leverage, meaning the company has more debt relative to its equity.

Looking at the financial leverage ratio data for TEGNA Inc over the past eight quarters, we observe fluctuations in the ratio. The ratio ranged from 2.35 to 2.62 during this period, with Q4 2023 showing the highest ratio of 2.59 and Q1 2023 the lowest ratio of 2.35.

The increase in the financial leverage ratio from Q1 2023 to Q4 2023 suggests that TEGNA Inc has potentially taken on more debt relative to equity, indicating a higher level of financial risk. Conversely, the decrease from Q4 2023 to Q2 2022 and subsequent fluctuations suggest some variability in the company's debt levels over time.

It is essential for investors and analysts to monitor changes in a company's financial leverage ratio as it can impact the company's ability to meet its financial obligations, its cost of capital, and overall financial stability. A rising trend in the financial leverage ratio may indicate increasing financial risk for the company.