Stock Analysis on Net

Abbott Laboratories (NYSE:ABT)

Analysis of Solvency Ratios 
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

Abbott Laboratories, solvency ratios (quarterly data)

Microsoft Excel
Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Debt Ratios
Debt to equity 0.38 0.38 0.38 0.41 0.45 0.46 0.46 0.46 0.46 0.48 0.50 0.53 0.55 0.55 0.57 0.59 0.64 0.60 0.58 0.60 0.61 0.62
Debt to capital 0.27 0.27 0.28 0.29 0.31 0.31 0.31 0.32 0.31 0.33 0.34 0.35 0.35 0.35 0.36 0.37 0.39 0.38 0.37 0.38 0.38 0.38
Debt to assets 0.20 0.20 0.20 0.22 0.23 0.23 0.23 0.23 0.23 0.23 0.24 0.25 0.25 0.25 0.26 0.27 0.29 0.27 0.27 0.28 0.28 0.28
Financial leverage 1.86 1.87 1.90 1.92 1.97 1.99 2.03 2.04 2.03 2.09 2.10 2.14 2.17 2.17 2.21 2.20 2.25 2.21 2.18 2.15 2.16 2.19
Coverage Ratios
Interest coverage 11.74 11.46 11.46 10.79 11.34 13.06 15.89 18.41 20.07 18.10 16.41 16.38 14.28 12.77 10.10 7.66 6.80 7.39 7.09

Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Abbott Laboratories debt to equity ratio improved from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Abbott Laboratories debt to capital ratio improved from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Abbott Laboratories debt to assets ratio deteriorated from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Abbott Laboratories financial leverage ratio decreased from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Abbott Laboratories interest coverage ratio deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level.

Debt to Equity

Abbott Laboratories, debt to equity calculation (quarterly data)

Microsoft Excel
Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings 197 199 199 213 208 205 204 201 204 204 201
Current portion of long-term debt 1,615 2,010 1,080 1,051 2,284 2,285 2,251 1,117 5 4 754 754 755 756 7 6 1,290 1,264 1,277 1,254 8 8
Long-term debt, excluding current portion 13,139 12,576 13,599 14,477 14,562 14,615 14,522 15,297 16,755 17,086 17,296 17,446 17,547 17,489 18,527 18,349 18,184 16,804 16,661 17,639 18,982 18,845
Total debt 14,754 14,586 14,679 15,528 16,846 16,900 16,773 16,414 16,760 17,090 18,050 18,397 18,501 18,444 18,747 18,563 19,679 18,272 18,139 19,097 19,194 19,054
 
Total Abbott shareholders’ investment 39,318 38,810 38,603 37,481 37,174 37,010 36,686 35,675 36,490 35,399 35,802 34,422 33,800 33,562 32,784 31,386 30,578 30,218 31,088 31,817 31,686 30,925
Solvency Ratio
Debt to equity1 0.38 0.38 0.38 0.41 0.45 0.46 0.46 0.46 0.46 0.48 0.50 0.53 0.55 0.55 0.57 0.59 0.64 0.60 0.58 0.60 0.61 0.62
Benchmarks
Debt to Equity, Competitors2
Cigna Group 0.77 0.80 0.67 0.68 0.72 0.73 0.69 0.70 0.73 0.72 0.71 0.72 0.68 0.66 0.65 0.75 0.77 0.81 0.83 0.87 0.89 0.95
CVS Health Corp. 0.89 0.87 0.81 0.83 0.88 0.82 0.74 0.74 0.73 0.76 0.75 0.79 0.81 0.87 0.93 0.97 1.05 1.10 1.07 1.10 1.16 1.25
Elevance Health Inc. 0.66 0.65 0.64 0.65 0.66 0.68 0.66 0.66 0.66 0.65 0.64 0.64 0.66 0.69 0.60 0.61 0.62 0.68 0.63 0.65 0.63 0.64
Humana Inc. 0.79 0.84 0.74 0.71 0.72 0.72 0.75 0.67 0.85 0.87 0.80 0.77 0.50 0.54 0.51 0.51 0.56 0.66 0.49 0.55 0.50 0.58
Intuitive Surgical Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Medtronic PLC 0.49 0.49 0.47 0.55 0.51 0.44 0.46 0.48 0.49 0.50 0.51 0.60 0.60 0.57 0.49 0.49 0.51 0.52 0.51 0.50 0.50 0.50
UnitedHealth Group Inc. 0.84 0.85 0.70 0.75 0.80 0.87 0.74 0.65 0.71 0.65 0.64 0.67 0.70 0.70 0.66 0.67 0.72 0.91 0.71 0.82 0.80 0.74

Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q2 2024 Calculation
Debt to equity = Total debt ÷ Total Abbott shareholders’ investment
= 14,754 ÷ 39,318 = 0.38

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. Abbott Laboratories debt to equity ratio improved from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.

Debt to Capital

Abbott Laboratories, debt to capital calculation (quarterly data)

Microsoft Excel
Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings 197 199 199 213 208 205 204 201 204 204 201
Current portion of long-term debt 1,615 2,010 1,080 1,051 2,284 2,285 2,251 1,117 5 4 754 754 755 756 7 6 1,290 1,264 1,277 1,254 8 8
Long-term debt, excluding current portion 13,139 12,576 13,599 14,477 14,562 14,615 14,522 15,297 16,755 17,086 17,296 17,446 17,547 17,489 18,527 18,349 18,184 16,804 16,661 17,639 18,982 18,845
Total debt 14,754 14,586 14,679 15,528 16,846 16,900 16,773 16,414 16,760 17,090 18,050 18,397 18,501 18,444 18,747 18,563 19,679 18,272 18,139 19,097 19,194 19,054
Total Abbott shareholders’ investment 39,318 38,810 38,603 37,481 37,174 37,010 36,686 35,675 36,490 35,399 35,802 34,422 33,800 33,562 32,784 31,386 30,578 30,218 31,088 31,817 31,686 30,925
Total capital 54,072 53,396 53,282 53,009 54,020 53,910 53,459 52,089 53,250 52,489 53,852 52,819 52,301 52,006 51,531 49,949 50,257 48,490 49,227 50,914 50,880 49,979
Solvency Ratio
Debt to capital1 0.27 0.27 0.28 0.29 0.31 0.31 0.31 0.32 0.31 0.33 0.34 0.35 0.35 0.35 0.36 0.37 0.39 0.38 0.37 0.38 0.38 0.38
Benchmarks
Debt to Capital, Competitors2
Cigna Group 0.44 0.44 0.40 0.41 0.42 0.42 0.41 0.41 0.42 0.42 0.42 0.42 0.40 0.40 0.40 0.43 0.44 0.45 0.45 0.46 0.47 0.49
CVS Health Corp. 0.47 0.46 0.45 0.45 0.47 0.45 0.42 0.42 0.42 0.43 0.43 0.44 0.45 0.47 0.48 0.49 0.51 0.52 0.52 0.52 0.54 0.56
Elevance Health Inc. 0.40 0.39 0.39 0.39 0.40 0.41 0.40 0.40 0.40 0.39 0.39 0.39 0.40 0.41 0.38 0.38 0.38 0.41 0.39 0.39 0.39 0.39
Humana Inc. 0.44 0.46 0.42 0.41 0.42 0.42 0.43 0.40 0.46 0.46 0.44 0.43 0.33 0.35 0.34 0.34 0.36 0.40 0.33 0.35 0.33 0.37
Intuitive Surgical Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Medtronic PLC 0.33 0.33 0.32 0.35 0.34 0.31 0.31 0.32 0.33 0.34 0.34 0.37 0.37 0.36 0.33 0.33 0.34 0.34 0.34 0.33 0.34 0.33
UnitedHealth Group Inc. 0.46 0.46 0.41 0.43 0.44 0.46 0.43 0.39 0.41 0.39 0.39 0.40 0.41 0.41 0.40 0.40 0.42 0.48 0.41 0.45 0.44 0.43

Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q2 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 14,754 ÷ 54,072 = 0.27

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. Abbott Laboratories debt to capital ratio improved from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.

Debt to Assets

Abbott Laboratories, debt to assets calculation (quarterly data)

Microsoft Excel
Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings 197 199 199 213 208 205 204 201 204 204 201
Current portion of long-term debt 1,615 2,010 1,080 1,051 2,284 2,285 2,251 1,117 5 4 754 754 755 756 7 6 1,290 1,264 1,277 1,254 8 8
Long-term debt, excluding current portion 13,139 12,576 13,599 14,477 14,562 14,615 14,522 15,297 16,755 17,086 17,296 17,446 17,547 17,489 18,527 18,349 18,184 16,804 16,661 17,639 18,982 18,845
Total debt 14,754 14,586 14,679 15,528 16,846 16,900 16,773 16,414 16,760 17,090 18,050 18,397 18,501 18,444 18,747 18,563 19,679 18,272 18,139 19,097 19,194 19,054
 
Total assets 73,017 72,467 73,214 72,090 73,354 73,794 74,438 72,801 74,202 74,007 75,196 73,795 73,269 72,785 72,548 69,043 68,776 66,777 67,887 68,539 68,427 67,610
Solvency Ratio
Debt to assets1 0.20 0.20 0.20 0.22 0.23 0.23 0.23 0.23 0.23 0.23 0.24 0.25 0.25 0.25 0.26 0.27 0.29 0.27 0.27 0.28 0.28 0.28
Benchmarks
Debt to Assets, Competitors2
Cigna Group 0.21 0.21 0.20 0.21 0.22 0.22 0.22 0.22 0.22 0.22 0.22 0.22 0.21 0.21 0.21 0.22 0.23 0.24 0.24 0.25 0.25 0.26
CVS Health Corp. 0.26 0.26 0.25 0.25 0.26 0.24 0.23 0.23 0.24 0.24 0.24 0.25 0.26 0.27 0.28 0.29 0.30 0.31 0.31 0.31 0.33 0.34
Elevance Health Inc. 0.25 0.24 0.23 0.22 0.23 0.23 0.23 0.23 0.23 0.23 0.24 0.23 0.24 0.24 0.23 0.24 0.24 0.26 0.26 0.26 0.25 0.26
Humana Inc. 0.26 0.27 0.26 0.21 0.22 0.22 0.27 0.21 0.28 0.29 0.29 0.28 0.19 0.20 0.20 0.21 0.21 0.23 0.20 0.22 0.21 0.22
Intuitive Surgical Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Medtronic PLC 0.28 0.28 0.27 0.30 0.29 0.26 0.27 0.27 0.28 0.28 0.28 0.31 0.31 0.31 0.27 0.28 0.28 0.29 0.28 0.28 0.28 0.28
UnitedHealth Group Inc. 0.26 0.26 0.23 0.22 0.23 0.25 0.23 0.20 0.22 0.21 0.22 0.22 0.23 0.23 0.22 0.23 0.24 0.27 0.23 0.26 0.25 0.24

Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q2 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 14,754 ÷ 73,017 = 0.20

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. Abbott Laboratories debt to assets ratio deteriorated from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.

Financial Leverage

Abbott Laboratories, financial leverage calculation (quarterly data)

Microsoft Excel
Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Total assets 73,017 72,467 73,214 72,090 73,354 73,794 74,438 72,801 74,202 74,007 75,196 73,795 73,269 72,785 72,548 69,043 68,776 66,777 67,887 68,539 68,427 67,610
Total Abbott shareholders’ investment 39,318 38,810 38,603 37,481 37,174 37,010 36,686 35,675 36,490 35,399 35,802 34,422 33,800 33,562 32,784 31,386 30,578 30,218 31,088 31,817 31,686 30,925
Solvency Ratio
Financial leverage1 1.86 1.87 1.90 1.92 1.97 1.99 2.03 2.04 2.03 2.09 2.10 2.14 2.17 2.17 2.21 2.20 2.25 2.21 2.18 2.15 2.16 2.19
Benchmarks
Financial Leverage, Competitors2
Cigna Group 3.76 3.72 3.30 3.28 3.30 3.33 3.21 3.20 3.33 3.31 3.29 3.25 3.17 3.16 3.09 3.33 3.37 3.43 3.44 3.46 3.52 3.64
CVS Health Corp. 3.37 3.38 3.27 3.38 3.44 3.35 3.21 3.27 3.06 3.15 3.10 3.16 3.16 3.24 3.32 3.38 3.46 3.54 3.48 3.52 3.57 3.68
Elevance Health Inc. 2.68 2.76 2.77 2.88 2.86 2.92 2.83 2.86 2.82 2.79 2.70 2.74 2.75 2.83 2.61 2.55 2.55 2.60 2.44 2.48 2.46 2.48
Humana Inc. 3.00 3.11 2.89 3.30 3.35 3.30 2.81 3.12 3.02 3.02 2.76 2.79 2.56 2.64 2.55 2.44 2.67 2.80 2.42 2.52 2.44 2.61
Intuitive Surgical Inc. 1.13 1.13 1.16 1.17 1.17 1.16 1.17 1.15 1.14 1.13 1.14 1.13 1.13 1.14 1.15 1.15 1.16 1.16 1.18 1.18 1.17 1.17
Medtronic PLC 1.75 1.77 1.77 1.83 1.80 1.71 1.73 1.75 1.76 1.78 1.81 1.92 1.91 1.87 1.79 1.79 1.80 1.81 1.79 1.78 1.78 1.79
UnitedHealth Group Inc. 3.20 3.28 3.08 3.34 3.40 3.49 3.16 3.26 3.16 3.04 2.96 3.03 3.05 3.09 3.01 2.93 3.03 3.32 3.02 3.16 3.15 3.12

Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q2 2024 Calculation
Financial leverage = Total assets ÷ Total Abbott shareholders’ investment
= 73,017 ÷ 39,318 = 1.86

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. Abbott Laboratories financial leverage ratio decreased from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.

Interest Coverage

Abbott Laboratories, interest coverage calculation (quarterly data)

Microsoft Excel
Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net earnings 1,302 1,225 1,594 1,436 1,375 1,318 1,033 1,435 2,018 2,447 1,989 2,100 1,189 1,793 2,162 1,232 537 564 1,049 960 1,006 672
Less: Net earnings from discontinued operations, net of tax 4 20
Add: Income tax expense 305 211 201 235 261 244 287 323 334 429 338 393 159 250 230 189 (11) 89 191 143 96 (40)
Add: Interest expense 140 141 159 166 159 153 154 141 132 131 131 133 134 135 136 137 134 139 164 167 168 171
Earnings before interest and tax (EBIT) 1,747 1,577 1,954 1,837 1,795 1,715 1,474 1,899 2,484 3,007 2,458 2,626 1,482 2,178 2,524 1,558 660 772 1,404 1,270 1,270 803
Solvency Ratio
Interest coverage1 11.74 11.46 11.46 10.79 11.34 13.06 15.89 18.41 20.07 18.10 16.41 16.38 14.28 12.77 10.10 7.66 6.80 7.39 7.09
Benchmarks
Interest Coverage, Competitors2
CVS Health Corp. 4.41 4.55 5.20 5.59 2.71 3.43 3.46 2.75 5.49 5.27 5.16 4.92 4.60 4.52 4.36 4.67 4.76 4.29 3.96
Elevance Health Inc. 9.07 8.70 8.49 8.87 9.76 9.95 10.13 10.75 10.71 11.01 10.93 10.04 8.03 9.09 8.96 9.59 11.16 9.14 9.02
Humana Inc. 5.02 6.03 7.73 9.48 10.19 10.30 9.89 10.31 11.61 11.27 11.49 10.87 11.78 18.22 17.52 22.25 19.81 15.36 15.34
Medtronic PLC 8.97 9.90 9.43 10.15 11.02 10.88 10.98 10.95 10.18 5.65 5.21 3.68 4.02 6.60 4.71 4.12 3.84 3.76 4.60
UnitedHealth Group Inc. 6.79 7.53 9.97 10.21 10.99 12.25 13.59 14.66 14.45 14.26 14.44 13.46 13.03 14.88 13.47 14.12 13.89 11.40 11.55

Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q2 2024 Calculation
Interest coverage = (EBITQ2 2024 + EBITQ1 2024 + EBITQ4 2023 + EBITQ3 2023) ÷ (Interest expenseQ2 2024 + Interest expenseQ1 2024 + Interest expenseQ4 2023 + Interest expenseQ3 2023)
= (1,747 + 1,577 + 1,954 + 1,837) ÷ (140 + 141 + 159 + 166) = 11.74

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. Abbott Laboratories interest coverage ratio deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level.