Stock Analysis on Net

Amgen Inc. (NASDAQ:AMGN)

Analysis of Solvency Ratios 

Microsoft Excel

Solvency Ratios (Summary)

Amgen Inc., solvency ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Debt Ratios
Debt to equity 10.37 10.64 4.97 3.51 3.09
Debt to equity (including operating lease liability) 10.50 10.83 5.07 3.55 3.15
Debt to capital 0.91 0.91 0.83 0.78 0.76
Debt to capital (including operating lease liability) 0.91 0.92 0.84 0.78 0.76
Debt to assets 0.67 0.60 0.54 0.52 0.50
Debt to assets (including operating lease liability) 0.67 0.61 0.56 0.53 0.51
Financial leverage 15.59 17.79 9.13 6.69 6.17
Coverage Ratios
Interest coverage 3.73 6.22 6.60 7.44 8.09
Fixed charge coverage 3.55 5.52 5.67 6.48 7.12

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Amgen Inc. debt to equity ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Amgen Inc. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Amgen Inc. debt to capital ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Amgen Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Amgen Inc. debt to assets ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Amgen Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Amgen Inc. financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Amgen Inc. interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Amgen Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Debt to Equity

Amgen Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,443 1,591 87 91 2,953
Long-term debt, excluding current portion 63,170 37,354 33,222 32,895 26,950
Total debt 64,613 38,945 33,309 32,986 29,903
 
Stockholders’ equity 6,232 3,661 6,700 9,409 9,673
Solvency Ratio
Debt to equity1 10.37 10.64 4.97 3.51 3.09
Benchmarks
Debt to Equity, Competitors2
AbbVie Inc. 5.73 3.67 4.98 6.58
Bristol-Myers Squibb Co. 1.35 1.27 1.24 1.34 0.91
Eli Lilly & Co. 2.34 1.52 1.88 2.94 5.88
Gilead Sciences Inc. 1.09 1.19 1.27 1.73 1.09
Johnson & Johnson 0.43 0.52 0.46 0.56 0.47
Merck & Co. Inc. 0.93 0.67 0.87 1.26 1.02
Pfizer Inc. 0.81 0.37 0.50 0.63 0.83
Regeneron Pharmaceuticals Inc. 0.10 0.12 0.14 0.24 0.06
Thermo Fisher Scientific Inc. 0.75 0.78 0.85 0.63 0.60
Vertex Pharmaceuticals Inc. 0.02 0.03 0.06 0.07 0.09
Debt to Equity, Sector
Pharmaceuticals, Biotechnology & Life Sciences 1.06 0.85 0.98 1.20 1.13
Debt to Equity, Industry
Health Care 0.81 0.72 0.79 0.89 0.90

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 64,613 ÷ 6,232 = 10.37

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. Amgen Inc. debt to equity ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Debt to Equity (including Operating Lease Liability)

Amgen Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,443 1,591 87 91 2,953
Long-term debt, excluding current portion 63,170 37,354 33,222 32,895 26,950
Total debt 64,613 38,945 33,309 32,986 29,903
Current operating lease liabilities (included in Accrued liabilities) 119 156 145 153 140
Noncurrent operating lease liabilities (included in Other noncurrent liabilities) 691 539 525 306 388
Total debt (including operating lease liability) 65,423 39,640 33,979 33,445 30,431
 
Stockholders’ equity 6,232 3,661 6,700 9,409 9,673
Solvency Ratio
Debt to equity (including operating lease liability)1 10.50 10.83 5.07 3.55 3.15
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
AbbVie Inc. 5.82 3.72 5.03 6.66
Bristol-Myers Squibb Co. 1.41 1.31 1.27 1.37 0.92
Eli Lilly & Co. 2.44 1.59 1.96 3.06 6.11
Gilead Sciences Inc. 1.12 1.22 1.30 1.76 1.12
Johnson & Johnson 0.44 0.53 0.47 0.57 0.48
Merck & Co. Inc. 0.97 0.70 0.91 1.32 1.06
Pfizer Inc. 0.84 0.41 0.54 0.65 0.85
Regeneron Pharmaceuticals Inc. 0.11 0.12 0.15 0.25 0.07
Thermo Fisher Scientific Inc. 0.78 0.82 0.89 0.65 0.62
Vertex Pharmaceuticals Inc. 0.05 0.06 0.10 0.11 0.11
Debt to Equity (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences 1.10 0.89 1.02 1.24 1.15
Debt to Equity (including Operating Lease Liability), Industry
Health Care 0.86 0.78 0.84 0.95 0.96

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 65,423 ÷ 6,232 = 10.50

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Amgen Inc. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Debt to Capital

Amgen Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,443 1,591 87 91 2,953
Long-term debt, excluding current portion 63,170 37,354 33,222 32,895 26,950
Total debt 64,613 38,945 33,309 32,986 29,903
Stockholders’ equity 6,232 3,661 6,700 9,409 9,673
Total capital 70,845 42,606 40,009 42,395 39,576
Solvency Ratio
Debt to capital1 0.91 0.91 0.83 0.78 0.76
Benchmarks
Debt to Capital, Competitors2
AbbVie Inc. 0.85 0.79 0.83 0.87 1.14
Bristol-Myers Squibb Co. 0.57 0.56 0.55 0.57 0.48
Eli Lilly & Co. 0.70 0.60 0.65 0.75 0.85
Gilead Sciences Inc. 0.52 0.54 0.56 0.63 0.52
Johnson & Johnson 0.30 0.34 0.31 0.36 0.32
Merck & Co. Inc. 0.48 0.40 0.46 0.56 0.50
Pfizer Inc. 0.45 0.27 0.33 0.39 0.45
Regeneron Pharmaceuticals Inc. 0.09 0.11 0.13 0.20 0.06
Thermo Fisher Scientific Inc. 0.43 0.44 0.46 0.39 0.37
Vertex Pharmaceuticals Inc. 0.02 0.03 0.05 0.06 0.09
Debt to Capital, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.52 0.46 0.50 0.55 0.53
Debt to Capital, Industry
Health Care 0.45 0.42 0.44 0.47 0.47

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 64,613 ÷ 70,845 = 0.91

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. Amgen Inc. debt to capital ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Debt to Capital (including Operating Lease Liability)

Amgen Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,443 1,591 87 91 2,953
Long-term debt, excluding current portion 63,170 37,354 33,222 32,895 26,950
Total debt 64,613 38,945 33,309 32,986 29,903
Current operating lease liabilities (included in Accrued liabilities) 119 156 145 153 140
Noncurrent operating lease liabilities (included in Other noncurrent liabilities) 691 539 525 306 388
Total debt (including operating lease liability) 65,423 39,640 33,979 33,445 30,431
Stockholders’ equity 6,232 3,661 6,700 9,409 9,673
Total capital (including operating lease liability) 71,655 43,301 40,679 42,854 40,104
Solvency Ratio
Debt to capital (including operating lease liability)1 0.91 0.92 0.84 0.78 0.76
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
AbbVie Inc. 0.85 0.79 0.83 0.87 1.14
Bristol-Myers Squibb Co. 0.58 0.57 0.56 0.58 0.48
Eli Lilly & Co. 0.71 0.61 0.66 0.75 0.86
Gilead Sciences Inc. 0.53 0.55 0.56 0.64 0.53
Johnson & Johnson 0.31 0.35 0.32 0.36 0.33
Merck & Co. Inc. 0.49 0.41 0.48 0.57 0.51
Pfizer Inc. 0.46 0.29 0.35 0.39 0.46
Regeneron Pharmaceuticals Inc. 0.10 0.11 0.13 0.20 0.07
Thermo Fisher Scientific Inc. 0.44 0.45 0.47 0.40 0.38
Vertex Pharmaceuticals Inc. 0.04 0.06 0.09 0.10 0.10
Debt to Capital (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.52 0.47 0.50 0.55 0.54
Debt to Capital (including Operating Lease Liability), Industry
Health Care 0.46 0.44 0.46 0.49 0.49

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 65,423 ÷ 71,655 = 0.91

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Amgen Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Debt to Assets

Amgen Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,443 1,591 87 91 2,953
Long-term debt, excluding current portion 63,170 37,354 33,222 32,895 26,950
Total debt 64,613 38,945 33,309 32,986 29,903
 
Total assets 97,154 65,121 61,165 62,948 59,707
Solvency Ratio
Debt to assets1 0.67 0.60 0.54 0.52 0.50
Benchmarks
Debt to Assets, Competitors2
AbbVie Inc. 0.44 0.46 0.52 0.57 0.75
Bristol-Myers Squibb Co. 0.42 0.41 0.41 0.43 0.36
Eli Lilly & Co. 0.39 0.33 0.35 0.36 0.39
Gilead Sciences Inc. 0.40 0.40 0.39 0.46 0.40
Johnson & Johnson 0.18 0.21 0.19 0.20 0.18
Merck & Co. Inc. 0.33 0.28 0.31 0.35 0.31
Pfizer Inc. 0.32 0.18 0.21 0.26 0.31
Regeneron Pharmaceuticals Inc. 0.08 0.09 0.11 0.16 0.05
Thermo Fisher Scientific Inc. 0.35 0.35 0.37 0.31 0.30
Vertex Pharmaceuticals Inc. 0.02 0.03 0.04 0.05 0.07
Debt to Assets, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.35 0.31 0.33 0.36 0.35
Debt to Assets, Industry
Health Care 0.29 0.27 0.28 0.30 0.31

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 64,613 ÷ 97,154 = 0.67

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. Amgen Inc. debt to assets ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Debt to Assets (including Operating Lease Liability)

Amgen Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,443 1,591 87 91 2,953
Long-term debt, excluding current portion 63,170 37,354 33,222 32,895 26,950
Total debt 64,613 38,945 33,309 32,986 29,903
Current operating lease liabilities (included in Accrued liabilities) 119 156 145 153 140
Noncurrent operating lease liabilities (included in Other noncurrent liabilities) 691 539 525 306 388
Total debt (including operating lease liability) 65,423 39,640 33,979 33,445 30,431
 
Total assets 97,154 65,121 61,165 62,948 59,707
Solvency Ratio
Debt to assets (including operating lease liability)1 0.67 0.61 0.56 0.53 0.51
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
AbbVie Inc. 0.45 0.46 0.53 0.58 0.75
Bristol-Myers Squibb Co. 0.44 0.42 0.42 0.44 0.37
Eli Lilly & Co. 0.41 0.34 0.36 0.37 0.41
Gilead Sciences Inc. 0.41 0.41 0.40 0.47 0.41
Johnson & Johnson 0.18 0.22 0.19 0.21 0.18
Merck & Co. Inc. 0.34 0.29 0.33 0.37 0.32
Pfizer Inc. 0.33 0.20 0.23 0.27 0.32
Regeneron Pharmaceuticals Inc. 0.08 0.09 0.11 0.16 0.05
Thermo Fisher Scientific Inc. 0.37 0.37 0.38 0.33 0.32
Vertex Pharmaceuticals Inc. 0.04 0.05 0.07 0.08 0.08
Debt to Assets (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.36 0.32 0.34 0.37 0.36
Debt to Assets (including Operating Lease Liability), Industry
Health Care 0.31 0.29 0.30 0.32 0.33

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 65,423 ÷ 97,154 = 0.67

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Amgen Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023.

Financial Leverage

Amgen Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Total assets 97,154 65,121 61,165 62,948 59,707
Stockholders’ equity 6,232 3,661 6,700 9,409 9,673
Solvency Ratio
Financial leverage1 15.59 17.79 9.13 6.69 6.17
Benchmarks
Financial Leverage, Competitors2
AbbVie Inc. 13.00 8.04 9.51 11.51
Bristol-Myers Squibb Co. 3.23 3.12 3.04 3.13 2.52
Eli Lilly & Co. 5.94 4.65 5.44 8.27 15.07
Gilead Sciences Inc. 2.72 2.97 3.23 3.76 2.74
Johnson & Johnson 2.44 2.44 2.46 2.76 2.65
Merck & Co. Inc. 2.84 2.37 2.77 3.62 3.26
Pfizer Inc. 2.54 2.06 2.35 2.44 2.65
Regeneron Pharmaceuticals Inc. 1.27 1.29 1.36 1.56 1.34
Thermo Fisher Scientific Inc. 2.11 2.21 2.33 2.00 1.97
Vertex Pharmaceuticals Inc. 1.29 1.30 1.33 1.35 1.37
Financial Leverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 3.03 2.75 2.99 3.33 3.18
Financial Leverage, Industry
Health Care 2.79 2.67 2.77 2.93 2.91

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 97,154 ÷ 6,232 = 15.59

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. Amgen Inc. financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Interest Coverage

Amgen Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income 6,717 6,552 5,893 7,264 7,842
Add: Income tax expense 1,138 794 808 869 1,296
Add: Interest expense, net 2,875 1,406 1,197 1,262 1,289
Earnings before interest and tax (EBIT) 10,730 8,752 7,898 9,395 10,427
Solvency Ratio
Interest coverage1 3.73 6.22 6.60 7.44 8.09
Benchmarks
Interest Coverage, Competitors2
AbbVie Inc. 3.81 7.04 6.36 2.38 5.72
Bristol-Myers Squibb Co. 8.24 7.26 7.07 -3.84 8.58
Eli Lilly & Co. 14.49 21.53 19.12 21.11 14.15
Gilead Sciences Inc. 8.27 7.22 9.27 2.70 6.19
Johnson & Johnson 20.51 79.71 125.46 83.07 55.49
Merck & Co. Inc. 2.65 18.09 18.22 11.58 13.84
Pfizer Inc. 1.48 29.05 19.83 6.17 12.23
Regeneron Pharmaceuticals Inc. 58.52 82.80 163.75 67.97 81.43
Thermo Fisher Scientific Inc. 5.54 11.56 17.49 14.07 7.02
Vertex Pharmaceuticals Inc. 100.32 78.23 45.40 54.60 24.84
Interest Coverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 6.17 14.84 14.44 7.28 11.07
Interest Coverage, Industry
Health Care 7.10 12.65 12.22 7.86 8.92

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 10,730 ÷ 2,875 = 3.73

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. Amgen Inc. interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Fixed Charge Coverage

Amgen Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income 6,717 6,552 5,893 7,264 7,842
Add: Income tax expense 1,138 794 808 869 1,296
Add: Interest expense, net 2,875 1,406 1,197 1,262 1,289
Earnings before interest and tax (EBIT) 10,730 8,752 7,898 9,395 10,427
Add: Operating lease costs 208 218 237 223 204
Earnings before fixed charges and tax 10,938 8,970 8,135 9,618 10,631
 
Interest expense, net 2,875 1,406 1,197 1,262 1,289
Operating lease costs 208 218 237 223 204
Fixed charges 3,083 1,624 1,434 1,485 1,493
Solvency Ratio
Fixed charge coverage1 3.55 5.52 5.67 6.48 7.12
Benchmarks
Fixed Charge Coverage, Competitors2
AbbVie Inc. 3.59 6.54 5.90 2.28 5.42
Bristol-Myers Squibb Co. 6.69 6.30 6.01 -3.08 7.10
Eli Lilly & Co. 10.98 15.17 13.33 15.06 10.18
Gilead Sciences Inc. 7.18 6.30 8.15 2.45 5.46
Johnson & Johnson 16.50 38.72 48.16 33.93 28.72
Merck & Co. Inc. 2.27 13.69 13.08 8.47 10.31
Pfizer Inc. 1.34 18.79 14.22 4.98 9.88
Regeneron Pharmaceuticals Inc. 46.55 68.67 138.96 57.70 60.98
Thermo Fisher Scientific Inc. 4.61 8.12 12.19 10.30 5.61
Vertex Pharmaceuticals Inc. 48.66 47.97 29.62 39.35 20.79
Fixed Charge Coverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 5.25 11.76 11.53 6.05 9.09
Fixed Charge Coverage, Industry
Health Care 5.54 8.98 8.66 5.80 6.65

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 10,938 ÷ 3,083 = 3.55

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Amgen Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.