Stock Analysis on Net

CSX Corp. (NASDAQ:CSX)

$19.99

Analysis of Solvency Ratios

Microsoft Excel LibreOffice Calc

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Solvency Ratios (Summary)

CSX Corp., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. CSX Corp. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. CSX Corp. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. CSX Corp. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.
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. CSX Corp. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. CSX Corp. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. CSX Corp. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. CSX Corp. financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. CSX Corp. interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. CSX Corp. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Debt to Equity

CSX Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, excluding current portion
Total debt
 
Shareholders’ equity, attributable to CSX
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
American Airlines Group Inc.
Delta Air Lines Inc.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Debt to Equity, Sector
Transportation
Debt to Equity, Industry
Industrials

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity, attributable to CSX
= ÷ =

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. CSX Corp. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Equity (including Operating Lease Liability)

CSX Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, excluding current portion
Total debt
Current operating lease liabilities (recorded in Other current liabilities)
Long-term operating lease liability
Total debt (including operating lease liability)
 
Shareholders’ equity, attributable to CSX
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
American Airlines Group Inc.
Delta Air Lines Inc.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Debt to Equity (including Operating Lease Liability), Sector
Transportation
Debt to Equity (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity, attributable to CSX
= ÷ =

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. CSX Corp. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Debt to Capital

CSX Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, excluding current portion
Total debt
Shareholders’ equity, attributable to CSX
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
American Airlines Group Inc.
Delta Air Lines Inc.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Debt to Capital, Sector
Transportation
Debt to Capital, Industry
Industrials

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

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. CSX Corp. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Capital (including Operating Lease Liability)

CSX Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, excluding current portion
Total debt
Current operating lease liabilities (recorded in Other current liabilities)
Long-term operating lease liability
Total debt (including operating lease liability)
Shareholders’ equity, attributable to CSX
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
American Airlines Group Inc.
Delta Air Lines Inc.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Debt to Capital (including Operating Lease Liability), Sector
Transportation
Debt to Capital (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

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. CSX Corp. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Debt to Assets

CSX Corp., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, excluding current portion
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
American Airlines Group Inc.
Delta Air Lines Inc.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Debt to Assets, Sector
Transportation
Debt to Assets, Industry
Industrials

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

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. CSX Corp. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Assets (including Operating Lease Liability)

CSX Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, excluding current portion
Total debt
Current operating lease liabilities (recorded in Other current liabilities)
Long-term operating lease liability
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
American Airlines Group Inc.
Delta Air Lines Inc.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Debt to Assets (including Operating Lease Liability), Sector
Transportation
Debt to Assets (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

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. CSX Corp. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Financial Leverage

CSX Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Total assets
Shareholders’ equity, attributable to CSX
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
American Airlines Group Inc.
Delta Air Lines Inc.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Financial Leverage, Sector
Transportation
Financial Leverage, Industry
Industrials

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity, attributable to CSX
= ÷ =

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. CSX Corp. financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Interest Coverage

CSX Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net earnings
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
American Airlines Group Inc.
Delta Air Lines Inc.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Interest Coverage, Sector
Transportation
Interest Coverage, Industry
Industrials

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

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. CSX Corp. interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Fixed Charge Coverage

CSX Corp., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net earnings
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Rent expense on operating leases
Earnings before fixed charges and tax
 
Interest expense
Rent expense on operating leases
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
American Airlines Group Inc.
Delta Air Lines Inc.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service Inc.
Fixed Charge Coverage, Sector
Transportation
Fixed Charge Coverage, Industry
Industrials

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

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. CSX Corp. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.