Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Danaher Corp., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Danaher Corp. debt to equity ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Danaher Corp. debt to capital ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Danaher Corp. debt to assets ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Danaher Corp. financial leverage ratio decreased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Danaher Corp. interest coverage ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Equity
Danaher Corp., debt to equity calculation (quarterly data)
| Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Notes payable and current portion of long-term debt | 1,746) | 1,695) | 2,547) | 1,590) | 1,571) | 591) | 705) | 10) | 10) | 8) | 7) | 23) | 10) | 11) | 20) | 17) | 3,234) | 212) | 1,069) | 154) | 37) | |||||||
| Long-term debt, excluding current portion | 16,417) | 16,707) | 19,513) | 18,285) | 18,261) | 19,086) | 18,542) | 20,052) | 21,768) | 22,168) | 23,591) | 20,400) | 20,267) | 21,193) | 21,806) | 22,370) | 22,737) | 21,517) | 16,536) | 10,144) | 9,458) | |||||||
| Total debt | 18,163) | 18,402) | 22,060) | 19,875) | 19,832) | 19,677) | 19,247) | 20,062) | 21,778) | 22,176) | 23,598) | 20,423) | 20,277) | 21,204) | 21,826) | 22,387) | 25,972) | 21,729) | 17,605) | 10,298) | 9,495) | |||||||
| Total Danaher stockholders’ equity | 53,442) | 53,486) | 52,407) | 51,716) | 51,478) | 50,082) | 46,985) | 46,594) | 46,356) | 45,167) | 43,451) | 42,756) | 40,419) | 39,766) | 37,961) | 36,262) | 31,055) | 30,271) | 32,502) | 32,201) | 31,557) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to equity1 | 0.34 | 0.34 | 0.42 | 0.38 | 0.39 | 0.39 | 0.41 | 0.43 | 0.47 | 0.49 | 0.54 | 0.48 | 0.50 | 0.53 | 0.57 | 0.62 | 0.84 | 0.72 | 0.54 | 0.32 | 0.30 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||
| AbbVie Inc. | — | 5.73 | 5.02 | 4.74 | 4.68 | 3.67 | 4.35 | 4.98 | 4.51 | 4.98 | 5.96 | 6.53 | 6.24 | 6.58 | 5.70 | 5.94 | — | — | — | — | — | |||||||
| Amgen Inc. | — | 10.37 | 7.90 | 9.08 | 11.52 | 10.64 | 10.60 | 15.10 | 40.23 | 4.97 | 4.57 | 3.98 | 3.50 | 3.51 | 3.13 | 3.21 | 3.36 | 3.09 | 2.73 | 2.84 | 3.05 | |||||||
| Bristol-Myers Squibb Co. | 3.38 | 1.35 | 1.30 | 1.18 | 1.19 | 1.27 | 1.20 | 1.29 | 1.42 | 1.24 | 1.20 | 1.23 | 1.23 | 1.34 | 0.90 | 0.95 | 0.94 | 0.91 | 1.41 | 1.56 | 0.40 | |||||||
| Eli Lilly & Co. | 2.05 | 2.34 | 1.80 | 1.70 | 1.69 | 1.52 | 1.58 | 1.97 | 1.77 | 1.88 | 2.20 | 2.56 | 2.35 | 2.94 | 3.51 | 3.99 | 5.60 | 5.88 | 4.50 | 5.68 | 6.44 | |||||||
| Gilead Sciences Inc. | — | 1.09 | 1.12 | 1.19 | 1.20 | 1.19 | 1.20 | 1.30 | 1.32 | 1.27 | 1.29 | 1.53 | 1.59 | 1.73 | 1.68 | 1.34 | 1.09 | 1.09 | 1.19 | 1.15 | 1.21 | |||||||
| Johnson & Johnson | 0.48 | 0.43 | 0.42 | 0.61 | 0.75 | 0.52 | 0.43 | 0.43 | 0.44 | 0.46 | 0.48 | 0.48 | 0.51 | 0.56 | 0.59 | 0.48 | 0.45 | 0.47 | 0.50 | 0.48 | 0.50 | |||||||
| Merck & Co. Inc. | — | 0.93 | 0.85 | 0.95 | 0.66 | 0.67 | 0.68 | 0.73 | 0.78 | 0.87 | 0.74 | 0.80 | 1.16 | 1.26 | 0.98 | 1.12 | 1.07 | 1.02 | 0.97 | 0.96 | 0.94 | |||||||
| Pfizer Inc. | — | 0.81 | 0.66 | 0.66 | 0.36 | 0.37 | 0.40 | 0.46 | 0.44 | 0.50 | 0.53 | 0.56 | 0.58 | 0.63 | 0.97 | 0.99 | 0.80 | 0.83 | 0.81 | 0.78 | 0.77 | |||||||
| Regeneron Pharmaceuticals Inc. | — | 0.10 | 0.11 | 0.11 | 0.11 | 0.12 | 0.13 | 0.13 | 0.14 | 0.14 | 0.16 | 0.18 | 0.23 | 0.24 | 0.27 | 0.24 | 0.06 | 0.06 | 0.07 | 0.07 | 0.08 | |||||||
| Thermo Fisher Scientific Inc. | — | 0.75 | 0.78 | 0.78 | 0.83 | 0.78 | 0.67 | 0.72 | 0.81 | 0.85 | 0.56 | 0.51 | 0.53 | 0.63 | 0.66 | 0.71 | 0.70 | 0.60 | 0.58 | 0.66 | 0.66 | |||||||
| Zoetis Inc. | — | 1.31 | 1.29 | 1.42 | 1.46 | 1.79 | 1.41 | 1.44 | 1.41 | 1.45 | 1.41 | 1.65 | 1.76 | 1.91 | 2.14 | 2.58 | 2.35 | 2.38 | 2.41 | 2.67 | 2.78 | |||||||
Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q1 2024 Calculation
Debt to equity = Total debt ÷ Total Danaher stockholders’ equity
= 18,163 ÷ 53,442 = 0.34
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Danaher Corp. debt to equity ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Capital
Danaher Corp., debt to capital calculation (quarterly data)
| Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Notes payable and current portion of long-term debt | 1,746) | 1,695) | 2,547) | 1,590) | 1,571) | 591) | 705) | 10) | 10) | 8) | 7) | 23) | 10) | 11) | 20) | 17) | 3,234) | 212) | 1,069) | 154) | 37) | |||||||
| Long-term debt, excluding current portion | 16,417) | 16,707) | 19,513) | 18,285) | 18,261) | 19,086) | 18,542) | 20,052) | 21,768) | 22,168) | 23,591) | 20,400) | 20,267) | 21,193) | 21,806) | 22,370) | 22,737) | 21,517) | 16,536) | 10,144) | 9,458) | |||||||
| Total debt | 18,163) | 18,402) | 22,060) | 19,875) | 19,832) | 19,677) | 19,247) | 20,062) | 21,778) | 22,176) | 23,598) | 20,423) | 20,277) | 21,204) | 21,826) | 22,387) | 25,972) | 21,729) | 17,605) | 10,298) | 9,495) | |||||||
| Total Danaher stockholders’ equity | 53,442) | 53,486) | 52,407) | 51,716) | 51,478) | 50,082) | 46,985) | 46,594) | 46,356) | 45,167) | 43,451) | 42,756) | 40,419) | 39,766) | 37,961) | 36,262) | 31,055) | 30,271) | 32,502) | 32,201) | 31,557) | |||||||
| Total capital | 71,605) | 71,888) | 74,467) | 71,591) | 71,310) | 69,759) | 66,232) | 66,656) | 68,134) | 67,343) | 67,049) | 63,179) | 60,696) | 60,970) | 59,787) | 58,649) | 57,027) | 52,000) | 50,107) | 42,499) | 41,051) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to capital1 | 0.25 | 0.26 | 0.30 | 0.28 | 0.28 | 0.28 | 0.29 | 0.30 | 0.32 | 0.33 | 0.35 | 0.32 | 0.33 | 0.35 | 0.37 | 0.38 | 0.46 | 0.42 | 0.35 | 0.24 | 0.23 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||
| AbbVie Inc. | — | 0.85 | 0.83 | 0.83 | 0.82 | 0.79 | 0.81 | 0.83 | 0.82 | 0.83 | 0.86 | 0.87 | 0.86 | 0.87 | 0.85 | 0.86 | 1.12 | 1.14 | 1.27 | 1.30 | 1.27 | |||||||
| Amgen Inc. | — | 0.91 | 0.89 | 0.90 | 0.92 | 0.91 | 0.91 | 0.94 | 0.98 | 0.83 | 0.82 | 0.80 | 0.78 | 0.78 | 0.76 | 0.76 | 0.77 | 0.76 | 0.73 | 0.74 | 0.75 | |||||||
| Bristol-Myers Squibb Co. | 0.77 | 0.57 | 0.56 | 0.54 | 0.54 | 0.56 | 0.54 | 0.56 | 0.59 | 0.55 | 0.55 | 0.55 | 0.55 | 0.57 | 0.47 | 0.49 | 0.48 | 0.48 | 0.59 | 0.61 | 0.28 | |||||||
| Eli Lilly & Co. | 0.67 | 0.70 | 0.64 | 0.63 | 0.63 | 0.60 | 0.61 | 0.66 | 0.64 | 0.65 | 0.69 | 0.72 | 0.70 | 0.75 | 0.78 | 0.80 | 0.85 | 0.85 | 0.82 | 0.85 | 0.87 | |||||||
| Gilead Sciences Inc. | — | 0.52 | 0.53 | 0.54 | 0.55 | 0.54 | 0.54 | 0.56 | 0.57 | 0.56 | 0.56 | 0.60 | 0.61 | 0.63 | 0.63 | 0.57 | 0.52 | 0.52 | 0.54 | 0.54 | 0.55 | |||||||
| Johnson & Johnson | 0.32 | 0.30 | 0.30 | 0.38 | 0.43 | 0.34 | 0.30 | 0.30 | 0.31 | 0.31 | 0.33 | 0.32 | 0.34 | 0.36 | 0.37 | 0.33 | 0.31 | 0.32 | 0.33 | 0.33 | 0.33 | |||||||
| Merck & Co. Inc. | — | 0.48 | 0.46 | 0.49 | 0.40 | 0.40 | 0.41 | 0.42 | 0.44 | 0.46 | 0.42 | 0.44 | 0.54 | 0.56 | 0.50 | 0.53 | 0.52 | 0.50 | 0.49 | 0.49 | 0.48 | |||||||
| Pfizer Inc. | — | 0.45 | 0.40 | 0.40 | 0.26 | 0.27 | 0.28 | 0.32 | 0.31 | 0.33 | 0.35 | 0.36 | 0.37 | 0.39 | 0.49 | 0.50 | 0.45 | 0.45 | 0.45 | 0.44 | 0.43 | |||||||
| Regeneron Pharmaceuticals Inc. | — | 0.09 | 0.10 | 0.10 | 0.10 | 0.11 | 0.11 | 0.12 | 0.12 | 0.13 | 0.14 | 0.15 | 0.18 | 0.20 | 0.21 | 0.20 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | |||||||
| Thermo Fisher Scientific Inc. | — | 0.43 | 0.44 | 0.44 | 0.45 | 0.44 | 0.40 | 0.42 | 0.45 | 0.46 | 0.36 | 0.34 | 0.35 | 0.39 | 0.40 | 0.42 | 0.41 | 0.37 | 0.37 | 0.40 | 0.40 | |||||||
| Zoetis Inc. | — | 0.57 | 0.56 | 0.59 | 0.59 | 0.64 | 0.58 | 0.59 | 0.59 | 0.59 | 0.58 | 0.62 | 0.64 | 0.66 | 0.68 | 0.72 | 0.70 | 0.70 | 0.71 | 0.73 | 0.74 | |||||||
Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 18,163 ÷ 71,605 = 0.25
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Danaher Corp. debt to capital ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Assets
Danaher Corp., debt to assets calculation (quarterly data)
| Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Notes payable and current portion of long-term debt | 1,746) | 1,695) | 2,547) | 1,590) | 1,571) | 591) | 705) | 10) | 10) | 8) | 7) | 23) | 10) | 11) | 20) | 17) | 3,234) | 212) | 1,069) | 154) | 37) | |||||||
| Long-term debt, excluding current portion | 16,417) | 16,707) | 19,513) | 18,285) | 18,261) | 19,086) | 18,542) | 20,052) | 21,768) | 22,168) | 23,591) | 20,400) | 20,267) | 21,193) | 21,806) | 22,370) | 22,737) | 21,517) | 16,536) | 10,144) | 9,458) | |||||||
| Total debt | 18,163) | 18,402) | 22,060) | 19,875) | 19,832) | 19,677) | 19,247) | 20,062) | 21,778) | 22,176) | 23,598) | 20,423) | 20,277) | 21,204) | 21,826) | 22,387) | 25,972) | 21,729) | 17,605) | 10,298) | 9,495) | |||||||
| Total assets | 83,402) | 84,488) | 87,734) | 84,902) | 85,040) | 84,350) | 81,030) | 81,806) | 83,392) | 83,184) | 82,498) | 78,027) | 75,426) | 76,161) | 72,891) | 71,268) | 68,930) | 62,082) | 61,531) | 53,322) | 51,774) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to assets1 | 0.22 | 0.22 | 0.25 | 0.23 | 0.23 | 0.23 | 0.24 | 0.25 | 0.26 | 0.27 | 0.29 | 0.26 | 0.27 | 0.28 | 0.30 | 0.31 | 0.38 | 0.35 | 0.29 | 0.19 | 0.18 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||
| AbbVie Inc. | — | 0.44 | 0.45 | 0.45 | 0.46 | 0.46 | 0.49 | 0.51 | 0.51 | 0.52 | 0.54 | 0.56 | 0.57 | 0.57 | 0.58 | 0.58 | 0.74 | 0.75 | 0.65 | 0.65 | 0.65 | |||||||
| Amgen Inc. | — | 0.67 | 0.67 | 0.68 | 0.69 | 0.60 | 0.61 | 0.62 | 0.62 | 0.54 | 0.58 | 0.55 | 0.52 | 0.52 | 0.53 | 0.53 | 0.52 | 0.50 | 0.50 | 0.52 | 0.52 | |||||||
| Bristol-Myers Squibb Co. | 0.56 | 0.42 | 0.41 | 0.40 | 0.40 | 0.41 | 0.40 | 0.42 | 0.44 | 0.41 | 0.40 | 0.41 | 0.41 | 0.43 | 0.36 | 0.36 | 0.36 | 0.36 | 0.43 | 0.45 | 0.17 | |||||||
| Eli Lilly & Co. | 0.41 | 0.39 | 0.35 | 0.34 | 0.36 | 0.33 | 0.33 | 0.36 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.36 | 0.39 | 0.39 | 0.42 | 0.39 | 0.40 | 0.41 | 0.42 | |||||||
| Gilead Sciences Inc. | — | 0.40 | 0.40 | 0.40 | 0.41 | 0.40 | 0.40 | 0.42 | 0.42 | 0.39 | 0.41 | 0.44 | 0.45 | 0.46 | 0.48 | 0.43 | 0.40 | 0.40 | 0.42 | 0.41 | 0.42 | |||||||
| Johnson & Johnson | 0.20 | 0.18 | 0.18 | 0.24 | 0.27 | 0.21 | 0.18 | 0.18 | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | 0.20 | 0.22 | 0.19 | 0.18 | 0.18 | 0.19 | 0.19 | 0.20 | |||||||
| Merck & Co. Inc. | — | 0.33 | 0.33 | 0.35 | 0.29 | 0.28 | 0.28 | 0.30 | 0.30 | 0.31 | 0.28 | 0.29 | 0.34 | 0.35 | 0.32 | 0.34 | 0.33 | 0.31 | 0.31 | 0.32 | 0.31 | |||||||
| Pfizer Inc. | — | 0.32 | 0.30 | 0.30 | 0.18 | 0.18 | 0.19 | 0.21 | 0.20 | 0.21 | 0.22 | 0.23 | 0.25 | 0.26 | 0.35 | 0.36 | 0.31 | 0.31 | 0.31 | 0.30 | 0.29 | |||||||
| Regeneron Pharmaceuticals Inc. | — | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | 0.11 | 0.11 | 0.13 | 0.15 | 0.16 | 0.17 | 0.15 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | |||||||
| Thermo Fisher Scientific Inc. | — | 0.35 | 0.36 | 0.36 | 0.37 | 0.35 | 0.32 | 0.33 | 0.36 | 0.37 | 0.29 | 0.28 | 0.28 | 0.31 | 0.33 | 0.35 | 0.34 | 0.30 | 0.30 | 0.33 | 0.33 | |||||||
| Zoetis Inc. | — | 0.46 | 0.46 | 0.48 | 0.48 | 0.53 | 0.48 | 0.48 | 0.47 | 0.47 | 0.48 | 0.51 | 0.52 | 0.53 | 0.56 | 0.59 | 0.56 | 0.56 | 0.57 | 0.59 | 0.59 | |||||||
Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 18,163 ÷ 83,402 = 0.22
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Danaher Corp. debt to assets ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Financial Leverage
Danaher Corp., financial leverage calculation (quarterly data)
| Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Total assets | 83,402) | 84,488) | 87,734) | 84,902) | 85,040) | 84,350) | 81,030) | 81,806) | 83,392) | 83,184) | 82,498) | 78,027) | 75,426) | 76,161) | 72,891) | 71,268) | 68,930) | 62,082) | 61,531) | 53,322) | 51,774) | |||||||
| Total Danaher stockholders’ equity | 53,442) | 53,486) | 52,407) | 51,716) | 51,478) | 50,082) | 46,985) | 46,594) | 46,356) | 45,167) | 43,451) | 42,756) | 40,419) | 39,766) | 37,961) | 36,262) | 31,055) | 30,271) | 32,502) | 32,201) | 31,557) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Financial leverage1 | 1.56 | 1.58 | 1.67 | 1.64 | 1.65 | 1.68 | 1.72 | 1.76 | 1.80 | 1.84 | 1.90 | 1.82 | 1.87 | 1.92 | 1.92 | 1.97 | 2.22 | 2.05 | 1.89 | 1.66 | 1.64 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||
| AbbVie Inc. | — | 13.00 | 11.26 | 10.52 | 10.14 | 8.04 | 8.84 | 9.77 | 8.80 | 9.51 | 10.99 | 11.77 | 10.98 | 11.51 | 9.80 | 10.17 | — | — | — | — | — | |||||||
| Amgen Inc. | — | 15.59 | 11.83 | 13.31 | 16.59 | 17.79 | 17.44 | 24.51 | 64.62 | 9.13 | 7.91 | 7.25 | 6.70 | 6.69 | 5.90 | 6.10 | 6.50 | 6.17 | 5.45 | 5.50 | 5.91 | |||||||
| Bristol-Myers Squibb Co. | 6.01 | 3.23 | 3.15 | 2.92 | 2.96 | 3.12 | 3.01 | 3.08 | 3.26 | 3.04 | 2.98 | 3.01 | 2.99 | 3.13 | 2.50 | 2.61 | 2.59 | 2.52 | 3.25 | 3.44 | 2.29 | |||||||
| Eli Lilly & Co. | 4.99 | 5.94 | 5.16 | 4.95 | 4.75 | 4.65 | 4.71 | 5.51 | 5.03 | 5.44 | 6.21 | 7.42 | 6.79 | 8.27 | 9.10 | 10.25 | 13.35 | 15.07 | 11.20 | 13.91 | 15.32 | |||||||
| Gilead Sciences Inc. | — | 2.72 | 2.80 | 2.95 | 2.95 | 2.97 | 2.97 | 3.11 | 3.17 | 3.23 | 3.13 | 3.45 | 3.56 | 3.76 | 3.49 | 3.10 | 2.71 | 2.74 | 2.87 | 2.79 | 2.86 | |||||||
| Johnson & Johnson | 2.46 | 2.44 | 2.33 | 2.55 | 2.77 | 2.44 | 2.35 | 2.33 | 2.39 | 2.46 | 2.55 | 2.54 | 2.62 | 2.76 | 2.65 | 2.51 | 2.53 | 2.65 | 2.67 | 2.55 | 2.54 | |||||||
| Merck & Co. Inc. | — | 2.84 | 2.59 | 2.70 | 2.30 | 2.37 | 2.41 | 2.48 | 2.61 | 2.77 | 2.61 | 2.72 | 3.37 | 3.62 | 3.08 | 3.28 | 3.24 | 3.26 | 3.10 | 3.04 | 2.99 | |||||||
| Pfizer Inc. | — | 2.54 | 2.22 | 2.22 | 1.94 | 2.06 | 2.10 | 2.24 | 2.23 | 2.35 | 2.37 | 2.43 | 2.31 | 2.44 | 2.74 | 2.77 | 2.56 | 2.65 | 2.62 | 2.62 | 2.64 | |||||||
| Regeneron Pharmaceuticals Inc. | — | 1.27 | 1.29 | 1.28 | 1.28 | 1.29 | 1.29 | 1.32 | 1.32 | 1.36 | 1.37 | 1.42 | 1.48 | 1.56 | 1.59 | 1.59 | 1.30 | 1.34 | 1.33 | 1.35 | 1.36 | |||||||
| Thermo Fisher Scientific Inc. | — | 2.11 | 2.14 | 2.15 | 2.24 | 2.21 | 2.08 | 2.14 | 2.26 | 2.33 | 1.90 | 1.84 | 1.88 | 2.00 | 2.01 | 2.06 | 2.05 | 1.97 | 1.93 | 2.02 | 2.01 | |||||||
| Zoetis Inc. | — | 2.86 | 2.78 | 2.97 | 3.06 | 3.39 | 2.93 | 3.01 | 2.98 | 3.06 | 2.93 | 3.23 | 3.37 | 3.61 | 3.81 | 4.38 | 4.19 | 4.26 | 4.21 | 4.56 | 4.70 | |||||||
Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q1 2024 Calculation
Financial leverage = Total assets ÷ Total Danaher stockholders’ equity
= 83,402 ÷ 53,442 = 1.56
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Danaher Corp. financial leverage ratio decreased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Interest Coverage
Danaher Corp., interest coverage calculation (quarterly data)
| Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net earnings | 1,088) | 1,079) | 1,129) | 1,106) | 1,450) | 2,232) | 1,572) | 1,680) | 1,725) | 1,788) | 1,158) | 1,785) | 1,702) | 1,240) | 884) | 927) | 595) | 1,275) | 668) | 731) | 334) | |||||||
| Less: Earnings from discontinued operations, net of income taxes | —) | 333) | —) | —) | 210) | —) | —) | —) | —) | —) | —) | 86) | —) | —) | —) | —) | —) | 482) | 37) | 55) | 2) | |||||||
| Add: Income tax expense | 183) | (14) | 268) | 286) | 283) | (39) | 359) | 389) | 374) | 297) | 229) | 344) | 381) | 301) | 138) | 294) | 116) | 183) | 156) | 147) | 388) | |||||||
| Add: Interest expense | 65) | 80) | 73) | 67) | 66) | 64) | 42) | 51) | 54) | 56) | 62) | 62) | 58) | 72) | 77) | 79) | 47) | 44) | 24) | 20) | 21) | |||||||
| Earnings before interest and tax (EBIT) | 1,336) | 812) | 1,470) | 1,459) | 1,589) | 2,257) | 1,973) | 2,120) | 2,153) | 2,141) | 1,449) | 2,105) | 2,141) | 1,614) | 1,098) | 1,300) | 759) | 1,020) | 811) | 843) | 741) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Interest coverage1 | 17.81 | 18.64 | 25.09 | 30.45 | 35.60 | 40.30 | 41.32 | 35.26 | 33.54 | 32.92 | 28.74 | 25.87 | 21.54 | 17.35 | 16.90 | 20.00 | 25.33 | 31.44 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||||
| Amgen Inc. | — | 3.73 | 4.54 | 5.43 | 6.51 | 6.22 | 6.83 | 6.97 | 6.40 | 6.60 | 6.46 | 6.48 | 7.64 | 7.44 | 7.62 | 7.62 | 7.85 | 8.09 | — | — | — | |||||||
| Gilead Sciences Inc. | — | 8.27 | 8.88 | 9.03 | 8.84 | 7.22 | 5.80 | 6.73 | 6.97 | 9.27 | 10.06 | 7.61 | 2.93 | 2.70 | 2.83 | 0.41 | 5.90 | 6.19 | — | — | — | |||||||
| Johnson & Johnson | 29.06 | 20.51 | 17.07 | 20.72 | 31.49 | 79.71 | 141.63 | 160.27 | 164.15 | 125.46 | 94.27 | 87.06 | 73.87 | 83.07 | 96.82 | 81.36 | 81.56 | 55.49 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | — | 58.52 | 61.70 | 69.61 | 73.97 | 82.80 | 108.62 | 116.35 | 163.24 | 163.75 | 139.74 | 104.12 | 68.20 | 67.97 | 72.22 | 108.12 | 90.22 | 81.43 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | — | 5.54 | 5.98 | 6.64 | 8.28 | 11.56 | 13.59 | 15.70 | 16.73 | 17.49 | 19.94 | 19.52 | 17.58 | 14.07 | 10.78 | 7.93 | 7.66 | 7.02 | — | — | — | |||||||
| Zoetis Inc. | — | 13.28 | 12.89 | 12.98 | 12.37 | 13.02 | 13.07 | 12.86 | 12.49 | 12.11 | 11.54 | 11.00 | 10.30 | 9.64 | 9.79 | 9.72 | 9.71 | 9.08 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q1 2024 Calculation
Interest coverage
= (EBITQ1 2024
+ EBITQ4 2023
+ EBITQ3 2023
+ EBITQ2 2023)
÷ (Interest expenseQ1 2024
+ Interest expenseQ4 2023
+ Interest expenseQ3 2023
+ Interest expenseQ2 2023)
= (1,336 + 812 + 1,470 + 1,459)
÷ (65 + 80 + 73 + 67)
= 17.81
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Danaher Corp. interest coverage ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |