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Express Scripts Holding Co. (ESRX)
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)
Express Scripts Holding Co., debt and solvency ratios
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
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| Debt Ratios | ||||||
| Debt to equity | |
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| Debt to capital | |
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| Debt to assets | |
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| Financial leverage | |
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| Coverage Ratios | ||||||
| Interest coverage | |
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| Fixed charge coverage | |
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Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-23), 10-K (filing date: 2014-02-20).
| Ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Express Scripts Holding Co.’s debt to equity ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Express Scripts Holding Co.’s debt to capital ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Express Scripts Holding Co.’s debt to assets ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Express Scripts Holding Co.’s financial leverage ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |
| Ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Express Scripts Holding Co.’s interest coverage ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Express Scripts Holding Co.’s fixed charge coverage ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |
Debt to Equity
Express Scripts Holding Co., debt to equity calculation, comparison to benchmarks
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term debt and current maturities of long-term debt | |
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| Long-term debt, excluding current maturities | |
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| Total debt | |
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| Total Express Scripts stockholders’ equity | |
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| Ratio | ||||||
| Debt to equity1 | |
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| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Becton, Dickinson & Co. | |
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| Intuitive Surgical Inc. | |
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| Medtronic PLC | |
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| Stryker Corp. | |
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| Thermo Fisher Scientific Inc. | |
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| UnitedHealth Group Inc. | |
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| Debt to Equity, Sector | ||||||
| Health Care Equipment & Services | |
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| Debt to Equity, Industry | ||||||
| Health Care | |
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Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-23), 10-K (filing date: 2014-02-20).
1 2017 Calculation
Debt to equity = Total debt ÷ Total Express Scripts stockholders’ equity
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Express Scripts Holding Co.’s debt to equity ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |
Debt to Capital
Express Scripts Holding Co., debt to capital calculation, comparison to benchmarks
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term debt and current maturities of long-term debt | |
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| Long-term debt, excluding current maturities | |
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| Total debt | |
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| Total Express Scripts stockholders’ equity | |
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| Total capital | |
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| Ratio | ||||||
| Debt to capital1 | |
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| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Becton, Dickinson & Co. | |
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| Intuitive Surgical Inc. | |
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|
|
| Medtronic PLC | |
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
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| UnitedHealth Group Inc. | |
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| Debt to Capital, Sector | ||||||
| Health Care Equipment & Services | |
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| Debt to Capital, Industry | ||||||
| Health Care | |
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Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-23), 10-K (filing date: 2014-02-20).
1 2017 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Express Scripts Holding Co.’s debt to capital ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |
Debt to Assets
Express Scripts Holding Co., debt to assets calculation, comparison to benchmarks
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term debt and current maturities of long-term debt | |
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| Long-term debt, excluding current maturities | |
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| Total debt | |
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| Total assets | |
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| Ratio | ||||||
| Debt to assets1 | |
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| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Becton, Dickinson & Co. | |
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|
|
|
| Intuitive Surgical Inc. | |
|
|
|
|
|
| Medtronic PLC | |
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
|
|
|
|
|
| UnitedHealth Group Inc. | |
|
|
|
|
|
| Debt to Assets, Sector | ||||||
| Health Care Equipment & Services | |
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| Debt to Assets, Industry | ||||||
| Health Care | |
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Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-23), 10-K (filing date: 2014-02-20).
1 2017 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Express Scripts Holding Co.’s debt to assets ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level. |
Financial Leverage
Express Scripts Holding Co., financial leverage calculation, comparison to benchmarks
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total assets | |
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| Total Express Scripts stockholders’ equity | |
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| Ratio | ||||||
| Financial leverage1 | |
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| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Becton, Dickinson & Co. | |
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|
|
|
| Intuitive Surgical Inc. | |
|
|
|
|
|
| Medtronic PLC | |
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
|
|
|
|
|
| UnitedHealth Group Inc. | |
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| Financial Leverage, Sector | ||||||
| Health Care Equipment & Services | |
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| Financial Leverage, Industry | ||||||
| Health Care | |
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Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-23), 10-K (filing date: 2014-02-20).
1 2017 Calculation
Financial leverage = Total assets ÷ Total Express Scripts stockholders’ equity
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Express Scripts Holding Co.’s financial leverage ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |
Interest Coverage
Express Scripts Holding Co., interest coverage calculation, comparison to benchmarks
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income attributable to Express Scripts | |
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| Add: Net income attributable to noncontrolling interest | |
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| Less: Net loss from discontinued operations, net of tax | |
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| Add: Income tax expense | |
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| Add: Interest expense and other | |
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| Earnings before interest and tax (EBIT) | |
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| Ratio | ||||||
| Interest coverage1 | |
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|
|
|
|
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Becton, Dickinson & Co. | |
|
|
|
|
|
| Intuitive Surgical Inc. | |
|
|
|
|
|
| Medtronic PLC | |
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
|
|
|
|
|
| UnitedHealth Group Inc. | |
|
|
|
|
|
| Interest Coverage, Sector | ||||||
| Health Care Equipment & Services | |
|
|
|
|
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| Interest Coverage, Industry | ||||||
| Health Care | |
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|
|
|
Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-23), 10-K (filing date: 2014-02-20).
1 2017 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Express Scripts Holding Co.’s interest coverage ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |
Fixed Charge Coverage
Express Scripts Holding Co., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income attributable to Express Scripts | |
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| Add: Net income attributable to noncontrolling interest | |
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| Less: Net loss from discontinued operations, net of tax | |
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| Add: Income tax expense | |
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| Add: Interest expense and other | |
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| Earnings before interest and tax (EBIT) | |
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| Add: Rental expense under the office and distribution facilities leases | |
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| Earnings before fixed charges and tax | |
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| Interest expense and other | |
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| Rental expense under the office and distribution facilities leases | |
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| Fixed charges | |
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| Ratio | ||||||
| Fixed charge coverage1 | |
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|
|
|
|
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Becton, Dickinson & Co. | |
|
|
|
|
|
| Medtronic PLC | |
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
|
|
|
|
|
| UnitedHealth Group Inc. | |
|
|
|
|
|
| Fixed Charge Coverage, Sector | ||||||
| Health Care Equipment & Services | |
|
|
|
|
|
| Fixed Charge Coverage, Industry | ||||||
| Health Care | |
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|
|
|
|
Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-23), 10-K (filing date: 2014-02-20).
1 2017 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Express Scripts Holding Co.’s fixed charge coverage ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |