Microsoft Excel LibreOffice Calc

Kraft Heinz Co. (NASDAQ:KHC)

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Analysis of Solvency Ratios

Beginner level


Solvency Ratios (Summary)

Kraft Heinz Co., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
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 (filing date: 2020-02-14), 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Kraft Heinz Co.’s debt to equity ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Kraft Heinz Co.’s debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Kraft Heinz Co.’s debt to capital ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
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. Kraft Heinz Co.’s debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Kraft Heinz Co.’s debt to assets ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Kraft Heinz Co.’s debt to assets ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Kraft Heinz Co.’s financial leverage ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Kraft Heinz Co.’s interest coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Kraft Heinz Co.’s fixed charge coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.

Debt to Equity

Kraft Heinz Co., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Commercial paper and other short-term debt
Current portion of long-term debt
Long-term debt, excluding current portion
Total debt
 
Shareholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Mondelēz International Inc.
Debt to Equity, Sector
Food Producers
Debt to Equity, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

1 2019 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= ÷ =

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. Kraft Heinz Co.’s debt to equity ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Debt to Equity (including Operating Lease Liability)

Kraft Heinz Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Commercial paper and other short-term debt
Current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Lease liabilities, operating leases, current
Lease liabilities, operating leases, non-current
Total debt (including operating lease liability)
 
Shareholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Mondelēz International Inc.
Debt to Equity (including Operating Lease Liability), Sector
Food Producers
Debt to Equity (including Operating Lease Liability), Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

1 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= ÷ =

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. Kraft Heinz Co.’s debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Debt to Capital

Kraft Heinz Co., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Commercial paper and other short-term debt
Current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Shareholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Mondelēz International Inc.
Debt to Capital, Sector
Food Producers
Debt to Capital, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

1 2019 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. Kraft Heinz Co.’s debt to capital ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Debt to Capital (including Operating Lease Liability)

Kraft Heinz Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Commercial paper and other short-term debt
Current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Lease liabilities, operating leases, current
Lease liabilities, operating leases, non-current
Total debt (including operating lease liability)
Shareholders’ equity
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
Mondelēz International Inc.
Debt to Capital (including Operating Lease Liability), Sector
Food Producers
Debt to Capital (including Operating Lease Liability), Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

1 2019 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. Kraft Heinz Co.’s debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Debt to Assets

Kraft Heinz Co., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Commercial paper and other short-term debt
Current portion of long-term debt
Long-term debt, excluding current portion
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Mondelēz International Inc.
Debt to Assets, Sector
Food Producers
Debt to Assets, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

1 2019 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. Kraft Heinz Co.’s debt to assets ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Debt to Assets (including Operating Lease Liability)

Kraft Heinz Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Commercial paper and other short-term debt
Current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Lease liabilities, operating leases, current
Lease liabilities, operating leases, non-current
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
Mondelēz International Inc.
Debt to Assets (including Operating Lease Liability), Sector
Food Producers
Debt to Assets (including Operating Lease Liability), Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

1 2019 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. Kraft Heinz Co.’s debt to assets ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Financial Leverage

Kraft Heinz Co., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Total assets
Shareholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Mondelēz International Inc.
Financial Leverage, Sector
Food Producers
Financial Leverage, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

1 2019 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= ÷ =

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. Kraft Heinz Co.’s financial leverage ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.

Interest Coverage

Kraft Heinz Co., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Kraft Heinz
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Mondelēz International Inc.
Interest Coverage, Sector
Food Producers
Interest Coverage, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

1 2019 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. Kraft Heinz Co.’s interest coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.

Fixed Charge Coverage

Kraft Heinz Co., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
U.S. federal statutory tax rate
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Kraft Heinz
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Operating lease costs
Earnings before fixed charges and tax
 
Interest expense
Operating lease costs
Preferred dividends
Preferred dividends, tax adjustment1
Preferred dividends, after tax adjustment
Fixed charges
Solvency Ratio
Fixed charge coverage2
Benchmarks
Fixed Charge Coverage, Competitors3
Mondelēz International Inc.
Fixed Charge Coverage, Sector
Food Producers
Fixed Charge Coverage, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

1 2019 Calculation
Preferred dividends, tax adjustment = (Preferred dividends × U.S. federal statutory tax rate) ÷ (1 − U.S. federal statutory tax rate)
= ( × ) ÷ (1 − ) =

2 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

3 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. Kraft Heinz Co.’s fixed charge coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.