Werner Enterprises Inc (WERN)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	646,250	687,500	422,500	175,000	225,000
Total assets	US$ in thousands	3,157,940	3,097,260	2,603,710	2,156,680	2,143,860
Debt-to-assets ratio		0.20	0.22	0.16	0.08	0.10

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $646,250K ÷ $3,157,940K
= 0.20

The debt-to-assets ratio of Werner Enterprises, Inc. has fluctuated over the past five years. In 2023, the ratio stands at 0.21, which indicates that 21% of the company's total assets are financed through debt. Compared to the previous year, there was a slight decrease from 0.22 in 2022.

Looking further back, the ratio was higher in 2021 at 0.16, indicating more reliance on debt for financing assets. The ratio was significantly lower in 2020 at 0.09, showcasing a conservative approach to debt utilization. In 2019, the ratio increased to 0.14, indicating a mild uptick in debt dependence compared to 2020.

Overall, the trend in Werner Enterprises' debt-to-assets ratio suggests varying levels of leverage over the years, with the company experiencing both increases and decreases in debt financing relative to its asset base. It is essential to monitor this ratio going forward to assess the company's financial risk and stability.