Werner Enterprises Inc (WERN)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	1,528,340	1,512,220	1,497,070	1,470,540	1,443,640	1,386,560	1,343,870	1,341,460	1,327,550	1,306,560	1,296,580	1,227,730	1,195,040	1,180,140	1,136,390	1,102,040	1,111,010	1,064,800	1,032,340	1,275,390
Debt-to-capital ratio		0.30	0.31	0.30	0.32	0.32	0.29	0.25	0.24	0.24	0.21	0.19	0.12	0.13	0.13	0.13	0.14	0.17	0.21	0.27	0.04

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $646,250K ÷ ($646,250K + $1,528,340K)
= 0.30

The debt-to-capital ratio of Werner Enterprises, Inc. has shown some fluctuations over the past eight quarters. It ranged from 0.24 to 0.32 during this period. The ratio was relatively stable between Q1 2022 and Q2 2023, hovering around 0.29 to 0.31. However, there was a noticeable increase in Q4 2022 when the ratio peaked at 0.32.

Overall, the company's debt-to-capital ratio indicates that it has been maintaining a moderate level of financial leverage, with debt representing approximately 25% to 32% of the total capital structure. It is important for investors and stakeholders to monitor this ratio to assess the company's ability to meet its financial obligations and manage its capital structure effectively over time. Further analysis and comparison with industry benchmarks may provide additional insights into Werner Enterprises, Inc.'s financial health and leverage position.