Covenant Logistics Group (Covenant Logistics Group) Debt-to-Equity : 0.73 (As of Dec. 2023)

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What is Covenant Logistics Group Debt-to-Equity?

Covenant Logistics Group's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $60 Mil. Covenant Logistics Group's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $233 Mil. Covenant Logistics Group's Total Stockholders Equity for the quarter that ended in Dec. 2023 was $403 Mil. Covenant Logistics Group's debt to equity for the quarter that ended in Dec. 2023 was 0.73.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Covenant Logistics Group's Debt-to-Equity or its related term are showing as below:

CVLG' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.21 Med: 0.73 Max: 1.26
Current: 0.73

During the past 13 years, the highest Debt-to-Equity Ratio of Covenant Logistics Group was 1.26. The lowest was 0.21. And the median was 0.73.

CVLG's Debt-to-Equity is ranked worse than
58.87% of 885 companies
in the Transportation industry
Industry Median: 0.55 vs CVLG: 0.73

Covenant Logistics Group Debt-to-Equity Historical Data

The historical data trend for Covenant Logistics Group's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Covenant Logistics Group Debt-to-Equity Chart

Covenant Logistics Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-Equity

Get a 7-Day Free Trial

1.00

0.38

0.21

0.48

0.73

Covenant Logistics Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Debt-to-Equity	Get a 7-Day Free Trial															0.47	0.66	0.61	0.73	N/A

Competitive Comparison of Covenant Logistics Group's Debt-to-Equity

For the Trucking subindustry, Covenant Logistics Group's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Covenant Logistics Group's Debt-to-Equity Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Covenant Logistics Group's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Covenant Logistics Group's Debt-to-Equity falls into.

Covenant Logistics Group Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Covenant Logistics Group's Debt to Equity Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(60.382	+	233.082)	/	403.42
	=	0.73

Covenant Logistics Group's Debt to Equity Ratio for the quarter that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(60.382	+	233.082)	/	403.42
	=	0.73

Covenant Logistics Group (NAS:CVLG) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Covenant Logistics Group Debt-to-Equity Related Terms

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Covenant Logistics Group (Covenant Logistics Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Covenant Logistics Group Inc (NAS:CVLG) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

CV5:Germany

Address

400 Birmingham Highway, Chattanooga, TN, USA, 37419

Website

https://www.covenantlogistics.com

Covenant Logistics Group Inc together with its wholly-owned subsidiaries offers truckload transportation and freight brokerage services to customers throughout the continental United States. The company's reportable segments include Expedited, Dedicated Services, Managed Freight and Warehousing. Expedited segment provides truckload services to customers with high service freight and delivery standards. Dedicated segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length. Managed Freight segment includes brokerage services and TMS. Warehousing segment provides day-to-day warehouse management services to customers who have chosen to outsource this function. Majority of revenue is generated from expedited segment.

Executives

Joey B Hogan	officer: Exec Vice President and CFO	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Wesley Miller Welborn	director	6401 LEE HIGHWAY, STE B, CHATTANOOGA TN 37421
Benjamin Sr Carson	director	PO BOX 3599, BATTLE CREEK MI 49016-3599
Samuel F Hough	officer: EVP - Expedited	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Lynn Doster	officer: EVP - Dedicated & Warehousing	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Paul Bunn	officer: President, COO, and Secretary	COVENANT TRANSPORTATION GROUP, INC., 400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Rachel Parker-hatchett	director	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Herbert J Schmidt	director	1950 LAKE RIDGE DRIVE, THE VILLAGES FL 32162
Grant James S Iii	officer: EVP and CFO	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Joey Ballard	officer: EVP, People and Safety	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
D Michael Kramer	director	P O BOX 868, EVANSVILLE IN 47705-0868
George S. Yates	officer: SVP - Brokerage	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Tracy L. Rosser	director	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Bradley A Moline	director	610 BROADWAY, IMPERIAL NE 69033
Robert E Bosworth	director	LIVINGSTON COMPANY & SOUTHPORT CAPITAL, ONE UNION SQUARE, SUITE 300, CHATTANOOGA TN 37402