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Netflix Inc. (NFLX)
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)
Netflix Inc., debt and solvency ratios
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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Based on: 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28), 10-K (filing date: 2015-01-29).
| Ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Netflix Inc.’s debt to equity ratio deteriorated from 2016 to 2017 and from 2017 to 2018. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Netflix Inc.’s debt to capital ratio deteriorated from 2016 to 2017 and from 2017 to 2018. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Netflix Inc.’s debt to assets ratio deteriorated from 2016 to 2017 and from 2017 to 2018. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Netflix Inc.’s financial leverage ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
| Ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Netflix Inc.’s interest coverage ratio improved from 2016 to 2017 and from 2017 to 2018. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Netflix Inc.’s fixed charge coverage ratio improved from 2016 to 2017 and from 2017 to 2018. |
Debt to Equity
Netflix Inc., debt to equity calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28), 10-K (filing date: 2015-01-29).
2018 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. | Netflix Inc.’s debt to equity ratio deteriorated from 2016 to 2017 and from 2017 to 2018. |
Debt to Capital
Netflix Inc., debt to capital calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28), 10-K (filing date: 2015-01-29).
2018 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. | Netflix Inc.’s debt to capital ratio deteriorated from 2016 to 2017 and from 2017 to 2018. |
Debt to Assets
Netflix Inc., debt to assets calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28), 10-K (filing date: 2015-01-29).
2018 Calculations
1 Debt to assets = Total debt ÷ Total assets
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Netflix Inc.’s debt to assets ratio deteriorated from 2016 to 2017 and from 2017 to 2018. |
Financial Leverage
Netflix Inc., financial leverage calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28), 10-K (filing date: 2015-01-29).
2018 Calculations
1 Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Netflix Inc.’s financial leverage ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
Interest Coverage
Netflix Inc., interest coverage calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28), 10-K (filing date: 2015-01-29).
2018 Calculations
1 Interest coverage = EBIT ÷ Interest expense
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Netflix Inc.’s interest coverage ratio improved from 2016 to 2017 and from 2017 to 2018. |
Fixed Charge Coverage
Netflix Inc., fixed charge coverage calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28), 10-K (filing date: 2015-01-29).
2018 Calculations
1 Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Netflix Inc.’s fixed charge coverage ratio improved from 2016 to 2017 and from 2017 to 2018. |