Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.
Solvency Ratios (Summary)
Illumina Inc., solvency ratios
Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Illumina Inc.’s debt to equity ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Illumina Inc.’s debt to equity ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Illumina Inc.’s debt to capital ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
| 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. | Illumina Inc.’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Illumina Inc.’s debt to assets ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Illumina Inc.’s debt to assets ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Illumina Inc.’s financial leverage ratio decreased from 2018 to 2019 but then slightly increased from 2019 to 2020. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Illumina Inc.’s interest coverage ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Illumina Inc.’s fixed charge coverage ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |
Debt to Equity
Illumina Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | — | — | — | 144 | 223 | |
| Long-term debt, current portion | 511 | — | 1,107 | 10 | 1 | |
| Long-term debt, excluding current portion | 673 | 1,141 | 890 | 1,182 | 1,048 | |
| Total debt | 1,184 | 1,141 | 1,997 | 1,336 | 1,272 | |
| Total Illumina stockholders’ equity | 4,694 | 4,613 | 3,758 | 2,749 | 2,197 | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.25 | 0.25 | 0.53 | 0.49 | 0.58 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| AbbVie Inc. | 6.58 | — | — | 7.33 | 7.95 | |
| Amgen Inc. | 3.51 | 3.09 | 2.71 | 1.40 | 1.16 | |
| Eli Lilly & Co. | 2.94 | 5.88 | 1.30 | 1.18 | 0.74 | |
| Gilead Sciences Inc. | 1.73 | 1.09 | 1.28 | 1.64 | 1.39 | |
| Johnson & Johnson | 0.56 | 0.47 | 0.51 | 0.57 | 0.39 | |
| Merck & Co. Inc. | 1.26 | 1.02 | 0.94 | 0.71 | 0.62 | |
| Moderna Inc. | 0.05 | 0.03 | 0.03 | — | — | |
| Pfizer Inc. | 0.63 | 0.83 | 0.66 | 0.61 | 0.71 | |
| Regeneron Pharmaceuticals Inc. | 0.24 | 0.06 | 0.08 | 0.11 | 0.11 | |
| Thermo Fisher Scientific Inc. | 0.63 | 0.60 | 0.69 | 0.83 | 0.77 | |
| Zoetis Inc. | 1.91 | 2.38 | 2.95 | 2.80 | 3.00 | |
| Debt to Equity, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 1.20 | 1.20 | 1.05 | 0.95 | 0.84 | |
| Debt to Equity, Industry | ||||||
| Health Care | 0.97 | 0.98 | 0.94 | 0.90 | 0.85 | |
Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).
1 2020 Calculation
Debt to equity = Total debt ÷ Total Illumina stockholders’ equity
= 1,184 ÷ 4,694 = 0.25
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. | Illumina Inc.’s debt to equity ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
Debt to Equity (including Operating Lease Liability)
Illumina Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | — | — | — | 144 | 223 | |
| Long-term debt, current portion | 511 | — | 1,107 | 10 | 1 | |
| Long-term debt, excluding current portion | 673 | 1,141 | 890 | 1,182 | 1,048 | |
| Total debt | 1,184 | 1,141 | 1,997 | 1,336 | 1,272 | |
| Operating lease liabilities, current portion | 51 | 45 | — | — | — | |
| Operating lease liabilities, excluding current portion | 671 | 695 | — | — | — | |
| Total debt (including operating lease liability) | 1,906 | 1,881 | 1,997 | 1,336 | 1,272 | |
| Total Illumina stockholders’ equity | 4,694 | 4,613 | 3,758 | 2,749 | 2,197 | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.41 | 0.41 | 0.53 | 0.49 | 0.58 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| AbbVie Inc. | 6.66 | — | — | 7.33 | 7.95 | |
| Amgen Inc. | 3.55 | 3.15 | 2.71 | 1.40 | 1.16 | |
| Eli Lilly & Co. | 3.06 | 6.11 | 1.30 | 1.18 | 0.74 | |
| Gilead Sciences Inc. | 1.76 | 1.12 | 1.28 | 1.64 | 1.39 | |
| Johnson & Johnson | 0.57 | 0.48 | 0.51 | 0.57 | 0.39 | |
| Merck & Co. Inc. | 1.32 | 1.06 | 0.94 | 0.71 | 0.62 | |
| Moderna Inc. | 0.09 | 0.12 | 0.03 | — | — | |
| Pfizer Inc. | 0.65 | 0.85 | 0.66 | 0.61 | 0.71 | |
| Regeneron Pharmaceuticals Inc. | 0.25 | 0.07 | 0.08 | 0.11 | 0.11 | |
| Thermo Fisher Scientific Inc. | 0.65 | 0.62 | 0.69 | 0.83 | 0.77 | |
| Zoetis Inc. | 1.96 | 2.45 | 2.95 | 2.80 | 3.00 | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 1.24 | 1.23 | 1.05 | 0.95 | 0.84 | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Health Care | 1.03 | 1.05 | 0.94 | 0.90 | 0.85 | |
Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).
1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Illumina stockholders’ equity
= 1,906 ÷ 4,694 = 0.41
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. | Illumina Inc.’s debt to equity ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
Debt to Capital
Illumina Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | — | — | — | 144 | 223 | |
| Long-term debt, current portion | 511 | — | 1,107 | 10 | 1 | |
| Long-term debt, excluding current portion | 673 | 1,141 | 890 | 1,182 | 1,048 | |
| Total debt | 1,184 | 1,141 | 1,997 | 1,336 | 1,272 | |
| Total Illumina stockholders’ equity | 4,694 | 4,613 | 3,758 | 2,749 | 2,197 | |
| Total capital | 5,878 | 5,754 | 5,755 | 4,085 | 3,469 | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.20 | 0.20 | 0.35 | 0.33 | 0.37 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| AbbVie Inc. | 0.87 | 1.14 | 1.27 | 0.88 | 0.89 | |
| Amgen Inc. | 0.78 | 0.76 | 0.73 | 0.58 | 0.54 | |
| Eli Lilly & Co. | 0.75 | 0.85 | 0.57 | 0.54 | 0.42 | |
| Gilead Sciences Inc. | 0.63 | 0.52 | 0.56 | 0.62 | 0.58 | |
| Johnson & Johnson | 0.36 | 0.32 | 0.34 | 0.37 | 0.28 | |
| Merck & Co. Inc. | 0.56 | 0.50 | 0.48 | 0.42 | 0.38 | |
| Moderna Inc. | 0.05 | 0.03 | 0.03 | — | — | |
| Pfizer Inc. | 0.39 | 0.45 | 0.40 | 0.38 | 0.41 | |
| Regeneron Pharmaceuticals Inc. | 0.20 | 0.06 | 0.07 | 0.10 | 0.10 | |
| Thermo Fisher Scientific Inc. | 0.39 | 0.37 | 0.41 | 0.45 | 0.44 | |
| Zoetis Inc. | 0.66 | 0.70 | 0.75 | 0.74 | 0.75 | |
| Debt to Capital, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.55 | 0.55 | 0.51 | 0.49 | 0.46 | |
| Debt to Capital, Industry | ||||||
| Health Care | 0.49 | 0.50 | 0.48 | 0.47 | 0.46 | |
Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).
1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 1,184 ÷ 5,878 = 0.20
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. | Illumina Inc.’s debt to capital ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
Debt to Capital (including Operating Lease Liability)
Illumina Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | — | — | — | 144 | 223 | |
| Long-term debt, current portion | 511 | — | 1,107 | 10 | 1 | |
| Long-term debt, excluding current portion | 673 | 1,141 | 890 | 1,182 | 1,048 | |
| Total debt | 1,184 | 1,141 | 1,997 | 1,336 | 1,272 | |
| Operating lease liabilities, current portion | 51 | 45 | — | — | — | |
| Operating lease liabilities, excluding current portion | 671 | 695 | — | — | — | |
| Total debt (including operating lease liability) | 1,906 | 1,881 | 1,997 | 1,336 | 1,272 | |
| Total Illumina stockholders’ equity | 4,694 | 4,613 | 3,758 | 2,749 | 2,197 | |
| Total capital (including operating lease liability) | 6,600 | 6,494 | 5,755 | 4,085 | 3,469 | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.29 | 0.29 | 0.35 | 0.33 | 0.37 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| AbbVie Inc. | 0.87 | 1.14 | 1.27 | 0.88 | 0.89 | |
| Amgen Inc. | 0.78 | 0.76 | 0.73 | 0.58 | 0.54 | |
| Eli Lilly & Co. | 0.75 | 0.86 | 0.57 | 0.54 | 0.42 | |
| Gilead Sciences Inc. | 0.64 | 0.53 | 0.56 | 0.62 | 0.58 | |
| Johnson & Johnson | 0.36 | 0.33 | 0.34 | 0.37 | 0.28 | |
| Merck & Co. Inc. | 0.57 | 0.51 | 0.48 | 0.42 | 0.38 | |
| Moderna Inc. | 0.08 | 0.10 | 0.03 | — | — | |
| Pfizer Inc. | 0.39 | 0.46 | 0.40 | 0.38 | 0.41 | |
| Regeneron Pharmaceuticals Inc. | 0.20 | 0.06 | 0.07 | 0.10 | 0.10 | |
| Thermo Fisher Scientific Inc. | 0.40 | 0.38 | 0.41 | 0.45 | 0.44 | |
| Zoetis Inc. | 0.66 | 0.71 | 0.75 | 0.74 | 0.75 | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.55 | 0.55 | 0.51 | 0.49 | 0.46 | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.51 | 0.51 | 0.48 | 0.47 | 0.46 | |
Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).
1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 1,906 ÷ 6,600 = 0.29
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. | Illumina Inc.’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
Debt to Assets
Illumina Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | — | — | — | 144 | 223 | |
| Long-term debt, current portion | 511 | — | 1,107 | 10 | 1 | |
| Long-term debt, excluding current portion | 673 | 1,141 | 890 | 1,182 | 1,048 | |
| Total debt | 1,184 | 1,141 | 1,997 | 1,336 | 1,272 | |
| Total assets | 7,585 | 7,316 | 6,959 | 5,257 | 4,281 | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.16 | 0.16 | 0.29 | 0.25 | 0.30 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| AbbVie Inc. | 0.57 | 0.75 | 0.68 | 0.53 | 0.56 | |
| Amgen Inc. | 0.52 | 0.50 | 0.51 | 0.44 | 0.45 | |
| Eli Lilly & Co. | 0.36 | 0.39 | 0.29 | 0.30 | 0.27 | |
| Gilead Sciences Inc. | 0.46 | 0.40 | 0.43 | 0.48 | 0.46 | |
| Johnson & Johnson | 0.20 | 0.18 | 0.20 | 0.22 | 0.19 | |
| Merck & Co. Inc. | 0.35 | 0.31 | 0.30 | 0.28 | 0.26 | |
| Moderna Inc. | 0.02 | 0.02 | 0.02 | — | — | |
| Pfizer Inc. | 0.26 | 0.31 | 0.26 | 0.25 | 0.25 | |
| Regeneron Pharmaceuticals Inc. | 0.16 | 0.05 | 0.06 | 0.08 | 0.07 | |
| Thermo Fisher Scientific Inc. | 0.31 | 0.30 | 0.34 | 0.37 | 0.36 | |
| Zoetis Inc. | 0.53 | 0.56 | 0.60 | 0.58 | 0.58 | |
| Debt to Assets, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.36 | 0.36 | 0.33 | 0.33 | 0.32 | |
| Debt to Assets, Industry | ||||||
| Health Care | 0.32 | 0.33 | 0.33 | 0.33 | 0.32 | |
Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).
1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 1,184 ÷ 7,585 = 0.16
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. | Illumina Inc.’s debt to assets ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
Debt to Assets (including Operating Lease Liability)
Illumina Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | — | — | — | 144 | 223 | |
| Long-term debt, current portion | 511 | — | 1,107 | 10 | 1 | |
| Long-term debt, excluding current portion | 673 | 1,141 | 890 | 1,182 | 1,048 | |
| Total debt | 1,184 | 1,141 | 1,997 | 1,336 | 1,272 | |
| Operating lease liabilities, current portion | 51 | 45 | — | — | — | |
| Operating lease liabilities, excluding current portion | 671 | 695 | — | — | — | |
| Total debt (including operating lease liability) | 1,906 | 1,881 | 1,997 | 1,336 | 1,272 | |
| Total assets | 7,585 | 7,316 | 6,959 | 5,257 | 4,281 | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.25 | 0.26 | 0.29 | 0.25 | 0.30 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| AbbVie Inc. | 0.58 | 0.75 | 0.68 | 0.53 | 0.56 | |
| Amgen Inc. | 0.53 | 0.51 | 0.51 | 0.44 | 0.45 | |
| Eli Lilly & Co. | 0.37 | 0.41 | 0.29 | 0.30 | 0.27 | |
| Gilead Sciences Inc. | 0.47 | 0.41 | 0.43 | 0.48 | 0.46 | |
| Johnson & Johnson | 0.21 | 0.18 | 0.20 | 0.22 | 0.19 | |
| Merck & Co. Inc. | 0.37 | 0.32 | 0.30 | 0.28 | 0.26 | |
| Moderna Inc. | 0.03 | 0.09 | 0.02 | — | — | |
| Pfizer Inc. | 0.27 | 0.32 | 0.26 | 0.25 | 0.25 | |
| Regeneron Pharmaceuticals Inc. | 0.16 | 0.05 | 0.06 | 0.08 | 0.07 | |
| Thermo Fisher Scientific Inc. | 0.33 | 0.32 | 0.34 | 0.37 | 0.36 | |
| Zoetis Inc. | 0.54 | 0.58 | 0.60 | 0.58 | 0.58 | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.37 | 0.37 | 0.33 | 0.33 | 0.32 | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.35 | 0.36 | 0.33 | 0.33 | 0.32 | |
Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).
1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 1,906 ÷ 7,585 = 0.25
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. | Illumina Inc.’s debt to assets ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
Financial Leverage
Illumina Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Total assets | 7,585 | 7,316 | 6,959 | 5,257 | 4,281 | |
| Total Illumina stockholders’ equity | 4,694 | 4,613 | 3,758 | 2,749 | 2,197 | |
| Solvency Ratio | ||||||
| Financial leverage1 | 1.62 | 1.59 | 1.85 | 1.91 | 1.95 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| AbbVie Inc. | 11.51 | — | — | 13.89 | 14.26 | |
| Amgen Inc. | 6.69 | 6.17 | 5.31 | 3.17 | 2.60 | |
| Eli Lilly & Co. | 8.27 | 15.07 | 4.47 | 3.88 | 2.77 | |
| Gilead Sciences Inc. | 3.76 | 2.74 | 2.98 | 3.44 | 3.02 | |
| Johnson & Johnson | 2.76 | 2.65 | 2.56 | 2.61 | 2.01 | |
| Merck & Co. Inc. | 3.62 | 3.26 | 3.09 | 2.56 | 2.38 | |
| Moderna Inc. | 2.86 | 1.35 | 1.28 | — | — | |
| Pfizer Inc. | 2.44 | 2.65 | 2.51 | 2.41 | 2.88 | |
| Regeneron Pharmaceuticals Inc. | 1.56 | 1.34 | 1.34 | 1.43 | 1.57 | |
| Thermo Fisher Scientific Inc. | 2.00 | 1.97 | 2.04 | 2.23 | 2.13 | |
| Zoetis Inc. | 3.61 | 4.26 | 4.93 | 4.85 | 5.14 | |
| Financial Leverage, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 3.39 | 3.36 | 3.13 | 2.88 | 2.67 | |
| Financial Leverage, Industry | ||||||
| Health Care | 2.97 | 2.94 | 2.86 | 2.76 | 2.65 | |
Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).
1 2020 Calculation
Financial leverage = Total assets ÷ Total Illumina stockholders’ equity
= 7,585 ÷ 4,694 = 1.62
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. | Illumina Inc.’s financial leverage ratio decreased from 2018 to 2019 but then slightly increased from 2019 to 2020. |
Interest Coverage
Illumina Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to Illumina stockholders | 656 | 1,002 | 826 | 726 | 463 | |
| Add: Net income attributable to noncontrolling interest | — | (12) | (44) | (48) | (35) | |
| Add: Income tax expense | 200 | 128 | 112 | 365 | 133 | |
| Add: Interest expense | 49 | 52 | 57 | 37 | 33 | |
| Earnings before interest and tax (EBIT) | 905 | 1,170 | 951 | 1,080 | 594 | |
| Solvency Ratio | ||||||
| Interest coverage1 | 18.47 | 22.50 | 16.68 | 29.19 | 17.91 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| AbbVie Inc. | 2.38 | 5.72 | 4.86 | 7.72 | 8.53 | |
| Amgen Inc. | 7.44 | 8.09 | 7.86 | 8.36 | 8.27 | |
| Eli Lilly & Co. | 21.11 | 14.15 | 14.95 | 10.77 | 19.22 | |
| Gilead Sciences Inc. | 2.70 | 6.19 | 8.24 | 13.10 | 18.74 | |
| Johnson & Johnson | 83.07 | 55.49 | 18.91 | 19.92 | 28.28 | |
| Merck & Co. Inc. | 11.58 | 13.84 | 12.27 | 9.65 | 7.72 | |
| Moderna Inc. | -74.31 | -76.85 | -123.16 | — | — | |
| Pfizer Inc. | 6.17 | 12.23 | 10.03 | 10.69 | 8.04 | |
| Regeneron Pharmaceuticals Inc. | 67.97 | 81.43 | 91.55 | 83.75 | 185.82 | |
| Thermo Fisher Scientific Inc. | 14.07 | 7.02 | 5.89 | 5.10 | 5.31 | |
| Zoetis Inc. | 9.64 | 9.08 | 9.20 | 9.71 | 8.40 | |
| Interest Coverage, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 8.86 | 11.12 | 9.96 | 11.10 | 12.20 | |
| Interest Coverage, Industry | ||||||
| Health Care | 7.14 | 8.51 | 7.90 | 9.26 | 9.81 | |
Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).
1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= 905 ÷ 49 = 18.47
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. | Illumina Inc.’s interest coverage ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level. |
Fixed Charge Coverage
Illumina Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to Illumina stockholders | 656 | 1,002 | 826 | 726 | 463 | |
| Add: Net income attributable to noncontrolling interest | — | (12) | (44) | (48) | (35) | |
| Add: Income tax expense | 200 | 128 | 112 | 365 | 133 | |
| Add: Interest expense | 49 | 52 | 57 | 37 | 33 | |
| Earnings before interest and tax (EBIT) | 905 | 1,170 | 951 | 1,080 | 594 | |
| Add: Operating lease costs | 84 | 84 | 55 | 46 | 46 | |
| Earnings before fixed charges and tax | 989 | 1,254 | 1,006 | 1,126 | 640 | |
| Interest expense | 49 | 52 | 57 | 37 | 33 | |
| Operating lease costs | 84 | 84 | 55 | 46 | 46 | |
| Fixed charges | 133 | 136 | 112 | 83 | 79 | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 7.44 | 9.22 | 8.98 | 13.57 | 8.11 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| AbbVie Inc. | 2.28 | 5.42 | 4.44 | 6.86 | 7.54 | |
| Amgen Inc. | 6.48 | 7.12 | 7.13 | 7.56 | 7.57 | |
| Eli Lilly & Co. | 15.06 | 10.18 | 8.66 | 5.89 | 9.31 | |
| Gilead Sciences Inc. | 2.45 | 5.46 | 7.58 | 12.26 | 17.36 | |
| Johnson & Johnson | 33.93 | 28.72 | 14.46 | 14.53 | 19.75 | |
| Merck & Co. Inc. | 8.47 | 10.31 | 8.95 | 7.03 | 5.73 | |
| Moderna Inc. | -26.75 | -20.79 | -8.26 | — | — | |
| Pfizer Inc. | 4.98 | 9.88 | 8.34 | 8.76 | 6.64 | |
| Thermo Fisher Scientific Inc. | 10.30 | 5.60 | 4.72 | 4.07 | 4.11 | |
| Zoetis Inc. | 8.21 | 7.85 | 7.73 | 8.55 | 7.43 | |
| Fixed Charge Coverage, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 7.24 | 9.08 | 8.21 | 9.06 | 9.88 | |
| Fixed Charge Coverage, Industry | ||||||
| Health Care | 5.26 | 6.30 | 6.02 | 6.86 | 7.22 | |
Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).
1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 989 ÷ 133 = 7.44
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. | Illumina Inc.’s fixed charge coverage ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |