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Walgreens Boots Alliance Inc. (WBA)
Analysis of Solvency Ratios
Beginner level
Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.
Solvency Ratios (Summary)
Walgreens Boots Alliance Inc., solvency ratios
Based on: 10-K (filing date: 2019-10-28), 10-K (filing date: 2018-10-11), 10-K (filing date: 2017-10-25), 10-K (filing date: 2016-10-20), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-20).
Solvency ratio | Description | The company |
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Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Walgreens Boots Alliance Inc.’s debt to equity ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Walgreens Boots Alliance Inc.’s debt to capital ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Walgreens Boots Alliance Inc.’s debt to assets ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Walgreens Boots Alliance Inc.’s financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019. |
Solvency ratio | Description | The company |
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Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Walgreens Boots Alliance Inc.’s interest coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Walgreens Boots Alliance Inc.’s fixed charge coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Debt to Equity
Walgreens Boots Alliance Inc., debt to equity calculation, comparison to benchmarks
Aug 31, 2019 | Aug 31, 2018 | Aug 31, 2017 | Aug 31, 2016 | Aug 31, 2015 | Aug 31, 2014 | ||
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Selected Financial Data (US$ in millions) | |||||||
Short-term debt | ![]() |
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Long-term debt | ![]() |
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Total debt | ![]() |
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Total Walgreens Boots Alliance, Inc. shareholders’ equity | ![]() |
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Solvency Ratio | |||||||
Debt to equity1 | ![]() |
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Benchmarks | |||||||
Debt to Equity, Competitors2 | |||||||
CVS Health Corp. | ![]() |
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Debt to Equity, Sector | |||||||
Food & Drug Retailers | ![]() |
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Debt to Equity, Industry | |||||||
Consumer Services | ![]() |
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Based on: 10-K (filing date: 2019-10-28), 10-K (filing date: 2018-10-11), 10-K (filing date: 2017-10-25), 10-K (filing date: 2016-10-20), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-20).
1 2019 Calculation
Debt to equity = Total debt ÷ Total Walgreens Boots Alliance, Inc. shareholders’ equity
= ÷
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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. | Walgreens Boots Alliance Inc.’s debt to equity ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Debt to Capital
Walgreens Boots Alliance Inc., debt to capital calculation, comparison to benchmarks
Aug 31, 2019 | Aug 31, 2018 | Aug 31, 2017 | Aug 31, 2016 | Aug 31, 2015 | Aug 31, 2014 | ||
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Selected Financial Data (US$ in millions) | |||||||
Short-term debt | ![]() |
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Long-term debt | ![]() |
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Total debt | ![]() |
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Total Walgreens Boots Alliance, Inc. shareholders’ equity | ![]() |
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Total capital | ![]() |
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Solvency Ratio | |||||||
Debt to capital1 | ![]() |
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Benchmarks | |||||||
Debt to Capital, Competitors2 | |||||||
CVS Health Corp. | ![]() |
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Debt to Capital, Sector | |||||||
Food & Drug Retailers | ![]() |
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Debt to Capital, Industry | |||||||
Consumer Services | ![]() |
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Based on: 10-K (filing date: 2019-10-28), 10-K (filing date: 2018-10-11), 10-K (filing date: 2017-10-25), 10-K (filing date: 2016-10-20), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-20).
1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
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2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
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Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Walgreens Boots Alliance Inc.’s debt to capital ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Debt to Assets
Walgreens Boots Alliance Inc., debt to assets calculation, comparison to benchmarks
Aug 31, 2019 | Aug 31, 2018 | Aug 31, 2017 | Aug 31, 2016 | Aug 31, 2015 | Aug 31, 2014 | ||
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Selected Financial Data (US$ in millions) | |||||||
Short-term debt | ![]() |
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Long-term debt | ![]() |
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Total debt | ![]() |
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Total assets | ![]() |
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Solvency Ratio | |||||||
Debt to assets1 | ![]() |
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Benchmarks | |||||||
Debt to Assets, Competitors2 | |||||||
CVS Health Corp. | ![]() |
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Debt to Assets, Sector | |||||||
Food & Drug Retailers | ![]() |
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Debt to Assets, Industry | |||||||
Consumer Services | ![]() |
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Based on: 10-K (filing date: 2019-10-28), 10-K (filing date: 2018-10-11), 10-K (filing date: 2017-10-25), 10-K (filing date: 2016-10-20), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-20).
1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
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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. | Walgreens Boots Alliance Inc.’s debt to assets ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Financial Leverage
Walgreens Boots Alliance Inc., financial leverage calculation, comparison to benchmarks
Aug 31, 2019 | Aug 31, 2018 | Aug 31, 2017 | Aug 31, 2016 | Aug 31, 2015 | Aug 31, 2014 | ||
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Selected Financial Data (US$ in millions) | |||||||
Total assets | ![]() |
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Total Walgreens Boots Alliance, Inc. shareholders’ equity | ![]() |
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Solvency Ratio | |||||||
Financial leverage1 | ![]() |
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Benchmarks | |||||||
Financial Leverage, Competitors2 | |||||||
CVS Health Corp. | ![]() |
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Financial Leverage, Sector | |||||||
Food & Drug Retailers | ![]() |
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Financial Leverage, Industry | |||||||
Consumer Services | ![]() |
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Based on: 10-K (filing date: 2019-10-28), 10-K (filing date: 2018-10-11), 10-K (filing date: 2017-10-25), 10-K (filing date: 2016-10-20), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-20).
1 2019 Calculation
Financial leverage = Total assets ÷ Total Walgreens Boots Alliance, Inc. shareholders’ equity
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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. | Walgreens Boots Alliance Inc.’s financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019. |
Interest Coverage
Walgreens Boots Alliance Inc., interest coverage calculation, comparison to benchmarks
Aug 31, 2019 | Aug 31, 2018 | Aug 31, 2017 | Aug 31, 2016 | Aug 31, 2015 | Aug 31, 2014 | ||
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Selected Financial Data (US$ in millions) | |||||||
Net earnings attributable to Walgreens Boots Alliance, Inc. | ![]() |
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Add: Net income attributable to noncontrolling interest | ![]() |
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Add: Income tax expense | ![]() |
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Add: Interest expense, net | ![]() |
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Earnings before interest and tax (EBIT) | ![]() |
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Solvency Ratio | |||||||
Interest coverage1 | ![]() |
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Benchmarks | |||||||
Interest Coverage, Competitors2 | |||||||
CVS Health Corp. | ![]() |
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Interest Coverage, Sector | |||||||
Food & Drug Retailers | ![]() |
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Interest Coverage, Industry | |||||||
Consumer Services | ![]() |
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Based on: 10-K (filing date: 2019-10-28), 10-K (filing date: 2018-10-11), 10-K (filing date: 2017-10-25), 10-K (filing date: 2016-10-20), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-20).
1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
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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. | Walgreens Boots Alliance Inc.’s interest coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Fixed Charge Coverage
Walgreens Boots Alliance Inc., fixed charge coverage calculation, comparison to benchmarks
Aug 31, 2019 | Aug 31, 2018 | Aug 31, 2017 | Aug 31, 2016 | Aug 31, 2015 | Aug 31, 2014 | ||
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Selected Financial Data (US$ in millions) | |||||||
Net earnings attributable to Walgreens Boots Alliance, Inc. | ![]() |
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Add: Net income attributable to noncontrolling interest | ![]() |
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Add: Income tax expense | ![]() |
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Add: Interest expense, net | ![]() |
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Earnings before interest and tax (EBIT) | ![]() |
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Add: Rental expense | ![]() |
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Earnings before fixed charges and tax | ![]() |
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Interest expense, net | ![]() |
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Rental expense | ![]() |
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Fixed charges | ![]() |
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Solvency Ratio | |||||||
Fixed charge coverage1 | ![]() |
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Benchmarks | |||||||
Fixed Charge Coverage, Competitors2 | |||||||
CVS Health Corp. | ![]() |
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Fixed Charge Coverage, Sector | |||||||
Food & Drug Retailers | ![]() |
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Fixed Charge Coverage, Industry | |||||||
Consumer Services | ![]() |
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Based on: 10-K (filing date: 2019-10-28), 10-K (filing date: 2018-10-11), 10-K (filing date: 2017-10-25), 10-K (filing date: 2016-10-20), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-20).
1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
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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. | Walgreens Boots Alliance Inc.’s fixed charge coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |