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Long-term Debt and Solvency Analysis

Difficulty: Beginner


Ratios (Summary)

3M Co., debt and solvency ratios

 
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Debt to equity
Debt to capital
Interest coverage

Source: Based on data from 3M Co. Annual Reports

Ratio Description The company
Debt-to-equity ratio A solvency ratio calculated as total debt divided by total shareholders' equity. 3M Co.'s debt-to-equity ratio deteriorated from 2015 to 2016 and from 2016 to 2017.
Debt-to-capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders' equity. 3M Co.'s debt-to-capital ratio deteriorated from 2015 to 2016 and from 2016 to 2017.
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. 3M Co.'s interest coverage ratio deteriorated from 2015 to 2016 and from 2016 to 2017.

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Debt to Equity

3M 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 (USD $ in millions)
Short-term borrowings and current portion of long-term debt
Long-term debt, excluding current portion
Capital lease obligations
Total debt
Total 3M Company shareholders' equity
Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors
Danaher Corp.
General Electric Co.
Honeywell International Inc.
Debt to Equity, Sector
General Industrials
Debt to Equity, Industry
Industrials

Source: Based on data from 3M Co. Annual Reports

2017 Calculations

1 Debt to equity = Total debt ÷ Total 3M Company shareholders' equity
= ÷ =

Ratio Description The company
Debt-to-equity ratio A solvency ratio calculated as total debt divided by total shareholders' equity. 3M Co.'s debt-to-equity ratio deteriorated from 2015 to 2016 and from 2016 to 2017.

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Debt to Capital

3M 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 (USD $ in millions)
Short-term borrowings and current portion of long-term debt
Long-term debt, excluding current portion
Capital lease obligations
Total debt
Total 3M Company shareholders' equity
Total capital
Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors
Danaher Corp.
General Electric Co.
Honeywell International Inc.
Debt to Capital, Sector
General Industrials
Debt to Capital, Industry
Industrials

Source: Based on data from 3M Co. Annual Reports

2017 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. 3M Co.'s debt-to-capital ratio deteriorated from 2015 to 2016 and from 2016 to 2017.

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Interest Coverage

3M 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 (USD $ in millions)
Net income attributable to 3M
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors
Danaher Corp.
General Electric Co.
Honeywell International Inc.
Interest Coverage, Sector
General Industrials
Interest Coverage, Industry
Industrials

Source: Based on data from 3M Co. Annual Reports

2017 Calculations

1 Interest coverage = EBIT ÷ Interest expense
= ÷ =

Ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. 3M Co.'s interest coverage ratio deteriorated from 2015 to 2016 and from 2016 to 2017.

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