Werner Enterprises Inc (WERN)

Debt-to-equity 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-equity ratio		0.42	0.45	0.42	0.47	0.48	0.41	0.33	0.31	0.32	0.26	0.23	0.14	0.15	0.15	0.15	0.16	0.20	0.26	0.38	0.04

December 31, 2023 calculation

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

From Q1 2022 to Q3 2023, Werner Enterprises, Inc.'s debt-to-equity ratio has displayed some fluctuation. The ratio started at 0.31 in Q1 2022, increased steadily to reach its peak of 0.47 in Q4 2022, before beginning a downward trend to 0.41 in Q4 2023. Overall, the company's debt-to-equity ratio has shown some variability over the past quarters, with Q4 2023 demonstrating a slightly improved leverage position compared to the higher ratios seen in Q4 2022. This suggests that the company has been managing its debt and equity levels more effectively towards the end of the observed period. It would be important to continue monitoring this ratio to assess the company's financial leverage and risk going forward.