Werner Enterprises Inc (WERN)

Debt-to-assets 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	646,250	686,250	636,250	686,250	687,500	568,750	440,000	421,250	422,500	343,750	295,000	175,000	175,000	175,000	175,000	175,000	225,000	275,000	390,000	50,000
Total assets	US$ in thousands	3,157,940	3,194,460	3,105,190	3,116,320	3,097,260	2,859,130	2,848,590	2,649,030	2,603,710	2,479,140	2,382,870	2,229,530	2,156,680	2,140,140	2,079,710	2,088,900	2,143,860	2,163,540	2,128,620	2,118,830
Debt-to-assets ratio		0.20	0.21	0.20	0.22	0.22	0.20	0.15	0.16	0.16	0.14	0.12	0.08	0.08	0.08	0.08	0.08	0.10	0.13	0.18	0.02

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 exhibited relatively stable levels over the past eight quarters. The ratio fluctuated between 0.16 and 0.22 during this period, with Q2 and Q3 of 2022 showing the lowest levels at 0.16 and Q3 of 2023 reaching the highest level at 0.22.

Overall, the company has maintained a conservative approach to financing its operations through debt, with a significant portion of its assets being financed by equity. This suggests that Werner Enterprises has a relatively lower level of financial risk as compared to companies with higher debt-to-assets ratios.

However, it's important for investors and stakeholders to continue monitoring the trend of this ratio to ensure the company's financial health and sustainability in the long term.