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Long-term Debt and Solvency Analysis

Difficulty: Beginner

Solvency ratios also known as long-term debt ratios measure a company's ability to meet long-term obligations.


Ratios (Summary)

Automatic Data Processing Inc., debt and solvency ratios

 
Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013 Jun 30, 2012
Debt to equity
Debt to capital
Interest coverage

Source: Based on data from Automatic Data Processing Inc. Annual Reports

Ratio Description The company
Debt-to-equity ratio A solvency ratio calculated as total debt divided by total shareholders' equity. Automatic Data Processing Inc.'s debt-to-equity ratio deteriorated from 2015 to 2016 and from 2016 to 2017.
Debt-to-capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders' equity. Automatic Data Processing Inc.'s debt-to-capital ratio deteriorated from 2015 to 2016 and from 2016 to 2017.
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Automatic Data Processing Inc.'s interest coverage ratio deteriorated from 2015 to 2016 and from 2016 to 2017.

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Debt to Equity

Automatic Data Processing Inc., debt to equity calculation, comparison to benchmarks

 
Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013 Jun 30, 2012
Selected Financial Data (USD $ in thousands)
Obligations under reverse repurchase agreements
Obligations under commercial paper borrowings
Long-term debt
Total debt
Stockholders' equity
Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors
Accenture PLC
Debt to Equity, Sector
Support Services
Debt to Equity, Industry
Industrials

Source: Based on data from Automatic Data Processing Inc. Annual Reports

2017 Calculations

1 Debt to equity = Total debt ÷ Stockholders' equity
= ÷ =

Ratio Description The company
Debt-to-equity ratio A solvency ratio calculated as total debt divided by total shareholders' equity. Automatic Data Processing Inc.'s debt-to-equity ratio deteriorated from 2015 to 2016 and from 2016 to 2017.

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Debt to Capital

Automatic Data Processing Inc., debt to capital calculation, comparison to benchmarks

 
Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013 Jun 30, 2012
Selected Financial Data (USD $ in thousands)
Obligations under reverse repurchase agreements
Obligations under commercial paper borrowings
Long-term debt
Total debt
Stockholders' equity
Total capital
Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors
Accenture PLC
Debt to Capital, Sector
Support Services
Debt to Capital, Industry
Industrials

Source: Based on data from Automatic Data Processing Inc. Annual Reports

2017 Calculations

1 Debt to capital = Total debt ÷ Total capital
= ÷ =

Ratio Description The company
Debt-to-capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders' equity. Automatic Data Processing Inc.'s debt-to-capital ratio deteriorated from 2015 to 2016 and from 2016 to 2017.

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Interest Coverage

Automatic Data Processing Inc., interest coverage calculation, comparison to benchmarks

 
Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013 Jun 30, 2012
Selected Financial Data (USD $ in thousands)
Net earnings
Less: Net earnings (loss) from discontinued operations
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors
Accenture PLC
Interest Coverage, Sector
Support Services
Interest Coverage, Industry
Industrials

Source: Based on data from Automatic Data Processing Inc. Annual Reports

2017 Calculations

1 Interest coverage = EBIT ÷ Interest expense
= ÷ =

Ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Automatic Data Processing Inc.'s interest coverage ratio deteriorated from 2015 to 2016 and from 2016 to 2017.

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