Werner Enterprises Inc (WERN)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	1,528,340	1,443,640	1,327,550	1,195,040	1,111,010
Debt-to-equity ratio		0.42	0.48	0.32	0.15	0.20

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $646,250K ÷ $1,528,340K
= 0.42

Based on the data provided, Werner Enterprises, Inc.'s debt-to-equity ratio has shown variations over the past five years, indicating changes in the company's capital structure and financial leverage position.

- In 2023, the debt-to-equity ratio stands at 0.41, reflecting a moderate level of debt relative to equity. This suggests that the company has a balanced mix of debt and equity financing in its capital structure.

- Comparing this to the previous year, there has been a slight improvement from 0.47 in 2022, indicating a slight reduction in the company's reliance on debt financing.

- The ratio was at its highest in 2020 at 0.17, suggesting a significant increase in debt relative to equity. This could indicate a strategic decision to take on more debt for growth opportunities or other reasons.

- In 2019, the ratio was 0.27, indicating a moderate level of debt relative to equity, similar to the current ratio in 2023.

Overall, the trend in Werner Enterprises, Inc.'s debt-to-equity ratio over the past five years suggests that the company has actively managed its capital structure, navigating between different levels of debt and equity financing to optimize its financial position and leverage.