Stock Analysis on Net
Stock Analysis on Net

Abbott Laboratories (NYSE:ABT)

Analysis of Solvency Ratios
Quarterly Data

Beginner level

Solvency Ratios (Summary)

Abbott Laboratories, solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Debt Ratios
Debt to equity 0.55 0.57 0.59 0.64 0.60 0.58 0.60 0.61 0.62 0.64 0.77 0.68 0.70 0.90 0.75 0.76 0.76 1.07 0.41 0.43 0.41
Debt to capital 0.35 0.36 0.37 0.39 0.38 0.37 0.38 0.38 0.38 0.39 0.43 0.40 0.41 0.47 0.43 0.43 0.43 0.52 0.29 0.30 0.29
Debt to assets 0.25 0.26 0.27 0.29 0.27 0.27 0.28 0.28 0.28 0.29 0.33 0.30 0.31 0.37 0.33 0.34 0.34 0.42 0.22 0.22 0.22
Financial leverage 2.17 2.21 2.20 2.25 2.21 2.18 2.15 2.16 2.19 2.20 2.33 2.24 2.26 2.47 2.26 2.25 2.26 2.56 1.90 1.93 1.91
Coverage Ratios
Interest coverage 12.77 10.10 7.66 6.80 7.39 7.09 6.47 5.67 4.99 4.48 3.82 3.67 3.13 3.47 4.12 3.43 4.58 4.28

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-19), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Abbott Laboratories’s debt to equity ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Abbott Laboratories’s debt to capital ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Abbott Laboratories’s debt to assets ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Abbott Laboratories’s financial leverage ratio increased from Q3 2020 to Q4 2020 but then decreased significantly from Q4 2020 to Q1 2021.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Abbott Laboratories’s interest coverage ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Debt to Equity

Abbott Laboratories, debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings 199  213  208  205  204  201  204  204  201  200  211  341  230  206  211  218  207  1,322  2,531  2,892  2,610 
Current portion of long-term debt 756  1,290  1,264  1,277  1,254  4,063  506  507  508  504 
Long-term debt, excluding current portion 17,489  18,527  18,349  18,184  16,804  16,661  17,639  18,982  18,845  19,359  19,284  19,823  21,154  27,210  23,310  23,810  23,764  20,681  5,975  6,016  5,977 
Total debt 18,444  18,747  18,563  19,679  18,272  18,139  19,097  19,194  19,054  19,566  23,558  20,670  21,891  27,924  24,025  24,031  23,974  22,006  8,510  8,912  8,590 
 
Total Abbott shareholders’ investment 33,562  32,784  31,386  30,578  30,218  31,088  31,817  31,686  30,925  30,524  30,705  30,577  31,399  30,897  32,032  31,602  31,362  20,538  20,776  20,675  20,722 
Solvency Ratio
Debt to equity1 0.55 0.57 0.59 0.64 0.60 0.58 0.60 0.61 0.62 0.64 0.77 0.68 0.70 0.90 0.75 0.76 0.76 1.07 0.41 0.43 0.41
Benchmarks
Debt to Equity, Competitors2
AbbVie Inc. 6.24 6.58 5.70 5.94 10.49 7.33 5.65 6.20 7.39 7.95 5.77 6.71 6.87
Amgen Inc. 3.50 3.51 3.13 3.21 3.36 3.09 2.73 2.84 3.05 2.71 2.40 2.31 2.28 1.40 1.11 1.11 1.11 1.16 1.15 1.10 1.20
Bristol-Myers Squibb Co. 1.23 1.34 0.90 0.95 0.94 0.91 1.41 1.56 0.40 0.52 0.54 0.60 0.60 0.68 0.57 0.56 0.59 0.41 0.44 0.45 0.47
Eli Lilly & Co. 2.35 2.94 3.51 3.99 5.60 5.88 4.50 5.68 6.44 1.30 0.97 1.06 0.81 1.18 0.90 0.87 0.73 0.74 0.60 0.64 0.54
Gilead Sciences Inc. 1.59 1.73 1.68 1.34 1.09 1.09 1.19 1.15 1.21 1.28 1.19 1.34 1.41 1.64 1.18 1.16 1.29 1.39 1.60 1.42 1.70
Illumina Inc. 0.44 0.25 0.25 0.25 0.25 0.25 0.25 0.26 0.44 0.53 0.57 0.42 0.45 0.49 0.46 0.48 0.49 0.58 0.54 0.50 0.51
Johnson & Johnson 0.51 0.56 0.59 0.48 0.45 0.47 0.50 0.48 0.50 0.51 0.48 0.51 0.51 0.57 0.48 0.48 0.46 0.39 0.37 0.36 0.32
Merck & Co. Inc. 1.16 1.26 0.98 1.12 1.07 1.02 0.97 0.96 0.94 0.94 0.73 0.72 0.70 0.71 0.71 0.63 0.71 0.62 0.57 0.56 0.59
Pfizer Inc. 0.63 0.97 0.99 0.80 0.83 0.81 0.78 0.77 0.66 0.58 0.58 0.56 0.61 0.72 0.75 0.75 0.71 0.70 0.70 0.62
Regeneron Pharmaceuticals Inc. 0.23 0.24 0.27 0.24 0.06 0.06 0.07 0.07 0.08 0.08 0.09 0.10 0.11 0.11 0.12 0.13 0.15 0.11 0.09 0.09 0.10
Vertex Pharmaceuticals Inc. 0.06 0.06 0.07 0.07 0.08 0.09 0.10 0.11 0.12 0.13 0.20 0.22 0.24 0.29 0.32 0.33 0.35 0.71 0.79 0.82 0.84
Zoetis Inc. 1.76 1.91 2.14 2.58 2.35 2.38 2.41 2.67 2.78 2.95 3.04 2.52 2.53 2.80 2.87 2.66 2.78 3.00 2.82 3.29 3.84

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-19), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

1 Q1 2021 Calculation
Debt to equity = Total debt ÷ Total Abbott shareholders’ investment
= 18,444 ÷ 33,562 = 0.55

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’s debt to equity ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Debt to Capital

Abbott Laboratories, debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings 199  213  208  205  204  201  204  204  201  200  211  341  230  206  211  218  207  1,322  2,531  2,892  2,610 
Current portion of long-term debt 756  1,290  1,264  1,277  1,254  4,063  506  507  508  504 
Long-term debt, excluding current portion 17,489  18,527  18,349  18,184  16,804  16,661  17,639  18,982  18,845  19,359  19,284  19,823  21,154  27,210  23,310  23,810  23,764  20,681  5,975  6,016  5,977 
Total debt 18,444  18,747  18,563  19,679  18,272  18,139  19,097  19,194  19,054  19,566  23,558  20,670  21,891  27,924  24,025  24,031  23,974  22,006  8,510  8,912  8,590 
Total Abbott shareholders’ investment 33,562  32,784  31,386  30,578  30,218  31,088  31,817  31,686  30,925  30,524  30,705  30,577  31,399  30,897  32,032  31,602  31,362  20,538  20,776  20,675  20,722 
Total capital 52,006  51,531  49,949  50,257  48,490  49,227  50,914  50,880  49,979  50,090  54,263  51,247  53,290  58,821  56,057  55,633  55,336  42,544  29,286  29,587  29,312 
Solvency Ratio
Debt to capital1 0.35 0.36 0.37 0.39 0.38 0.37 0.38 0.38 0.38 0.39 0.43 0.40 0.41 0.47 0.43 0.43 0.43 0.52 0.29 0.30 0.29
Benchmarks
Debt to Capital, Competitors2
AbbVie Inc. 0.86 0.87 0.85 0.86 1.12 1.14 1.27 1.30 1.27 1.27 1.08 1.10 0.91 0.88 0.85 0.86 0.88 0.89 0.85 0.87 0.87
Amgen Inc. 0.78 0.78 0.76 0.76 0.77 0.76 0.73 0.74 0.75 0.73 0.71 0.70 0.69 0.58 0.53 0.53 0.53 0.54 0.53 0.52 0.54
Bristol-Myers Squibb Co. 0.55 0.57 0.47 0.49 0.48 0.48 0.59 0.61 0.28 0.34 0.35 0.37 0.38 0.40 0.36 0.36 0.37 0.29 0.30 0.31 0.32
Eli Lilly & Co. 0.70 0.75 0.78 0.80 0.85 0.85 0.82 0.85 0.87 0.57 0.49 0.51 0.45 0.54 0.47 0.47 0.42 0.42 0.37 0.39 0.35
Gilead Sciences Inc. 0.61 0.63 0.63 0.57 0.52 0.52 0.54 0.54 0.55 0.56 0.54 0.57 0.59 0.62 0.54 0.54 0.56 0.58 0.62 0.59 0.63
Illumina Inc. 0.30 0.20 0.20 0.20 0.20 0.20 0.20 0.21 0.30 0.35 0.36 0.30 0.31 0.33 0.31 0.32 0.33 0.37 0.35 0.33 0.34
Johnson & Johnson 0.34 0.36 0.37 0.33 0.31 0.32 0.33 0.33 0.33 0.34 0.33 0.34 0.34 0.37 0.32 0.32 0.32 0.28 0.27 0.27 0.24
Merck & Co. Inc. 0.54 0.56 0.50 0.53 0.52 0.50 0.49 0.49 0.48 0.48 0.42 0.42 0.41 0.42 0.41 0.39 0.42 0.38 0.36 0.36 0.37
Pfizer Inc. 0.39 0.49 0.50 0.45 0.45 0.45 0.44 0.43 0.40 0.37 0.37 0.36 0.38 0.42 0.43 0.43 0.41 0.41 0.41 0.38
Regeneron Pharmaceuticals Inc. 0.18 0.20 0.21 0.20 0.06 0.06 0.06 0.07 0.07 0.07 0.08 0.09 0.10 0.10 0.10 0.11 0.13 0.10 0.08 0.08 0.09
Vertex Pharmaceuticals Inc. 0.06 0.06 0.06 0.06 0.08 0.08 0.09 0.10 0.11 0.12 0.17 0.18 0.19 0.22 0.24 0.25 0.26 0.42 0.44 0.45 0.46
Zoetis Inc. 0.64 0.66 0.68 0.72 0.70 0.70 0.71 0.73 0.74 0.75 0.75 0.72 0.72 0.74 0.74 0.73 0.74 0.75 0.74 0.77 0.79

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-19), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

1 Q1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 18,444 ÷ 52,006 = 0.35

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’s debt to capital ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Debt to Assets

Abbott Laboratories, debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings 199  213  208  205  204  201  204  204  201  200  211  341  230  206  211  218  207  1,322  2,531  2,892  2,610 
Current portion of long-term debt 756  1,290  1,264  1,277  1,254  4,063  506  507  508  504 
Long-term debt, excluding current portion 17,489  18,527  18,349  18,184  16,804  16,661  17,639  18,982  18,845  19,359  19,284  19,823  21,154  27,210  23,310  23,810  23,764  20,681  5,975  6,016  5,977 
Total debt 18,444  18,747  18,563  19,679  18,272  18,139  19,097  19,194  19,054  19,566  23,558  20,670  21,891  27,924  24,025  24,031  23,974  22,006  8,510  8,912  8,590 
 
Total assets 72,785  72,548  69,043  68,776  66,777  67,887  68,539  68,427  67,610  67,173  71,637  68,415  70,908  76,250  72,248  71,151  70,887  52,666  39,497  39,831  39,637 
Solvency Ratio
Debt to assets1 0.25 0.26 0.27 0.29 0.27 0.27 0.28 0.28 0.28 0.29 0.33 0.30 0.31 0.37 0.33 0.34 0.34 0.42 0.22 0.22 0.22
Benchmarks
Debt to Assets, Competitors2
AbbVie Inc. 0.57 0.57 0.58 0.58 0.74 0.75 0.65 0.65 0.65 0.68 0.61 0.60 0.54 0.53 0.55 0.56 0.56 0.56 0.56 0.56 0.59
Amgen Inc. 0.52 0.52 0.53 0.53 0.52 0.50 0.50 0.52 0.52 0.51 0.51 0.51 0.50 0.44 0.45 0.44 0.44 0.45 0.45 0.44 0.46
Bristol-Myers Squibb Co. 0.41 0.43 0.36 0.36 0.36 0.36 0.43 0.45 0.17 0.21 0.22 0.23 0.23 0.24 0.25 0.25 0.26 0.20 0.20 0.21 0.21
Eli Lilly & Co. 0.35 0.36 0.39 0.39 0.42 0.39 0.40 0.41 0.42 0.29 0.28 0.29 0.26 0.30 0.31 0.30 0.27 0.27 0.25 0.26 0.23
Gilead Sciences Inc. 0.45 0.46 0.48 0.43 0.40 0.40 0.42 0.41 0.42 0.43 0.42 0.44 0.44 0.48 0.45 0.44 0.46 0.46 0.48 0.44 0.48
Illumina Inc. 0.25 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.24 0.29 0.29 0.23 0.24 0.25 0.26 0.27 0.27 0.30 0.29 0.26 0.27
Johnson & Johnson 0.19 0.20 0.22 0.19 0.18 0.18 0.19 0.19 0.20 0.20 0.20 0.21 0.21 0.22 0.23 0.23 0.22 0.19 0.19 0.19 0.17
Merck & Co. Inc. 0.34 0.35 0.32 0.34 0.33 0.31 0.31 0.32 0.31 0.30 0.28 0.27 0.27 0.28 0.29 0.27 0.29 0.26 0.26 0.25 0.26
Pfizer Inc. 0.26 0.35 0.36 0.31 0.31 0.31 0.30 0.29 0.26 0.24 0.25 0.25 0.25 0.26 0.26 0.26 0.25 0.25 0.26 0.24
Regeneron Pharmaceuticals Inc. 0.15 0.16 0.17 0.15 0.05 0.05 0.05 0.05 0.06 0.06 0.07 0.07 0.08 0.08 0.08 0.09 0.09 0.07 0.06 0.06 0.06
Vertex Pharmaceuticals Inc. 0.04 0.05 0.05 0.05 0.06 0.06 0.07 0.08 0.09 0.09 0.12 0.13 0.15 0.16 0.18 0.17 0.18 0.28 0.31 0.32 0.32
Zoetis Inc. 0.52 0.53 0.56 0.59 0.56 0.56 0.57 0.59 0.59 0.60 0.62 0.58 0.57 0.58 0.61 0.59 0.58 0.58 0.58 0.59 0.60

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-19), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

1 Q1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 18,444 ÷ 72,785 = 0.25

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’s debt to assets ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Financial Leverage

Abbott Laboratories, financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Total assets 72,785  72,548  69,043  68,776  66,777  67,887  68,539  68,427  67,610  67,173  71,637  68,415  70,908  76,250  72,248  71,151  70,887  52,666  39,497  39,831  39,637 
Total Abbott shareholders’ investment 33,562  32,784  31,386  30,578  30,218  31,088  31,817  31,686  30,925  30,524  30,705  30,577  31,399  30,897  32,032  31,602  31,362  20,538  20,776  20,675  20,722 
Solvency Ratio
Financial leverage1 2.17 2.21 2.20 2.25 2.21 2.18 2.15 2.16 2.19 2.20 2.33 2.24 2.26 2.47 2.26 2.25 2.26 2.56 1.90 1.93 1.91
Benchmarks
Financial Leverage, Competitors2
AbbVie Inc. 10.98 11.51 9.80 10.17 19.52 13.89 10.29 11.15 13.14 14.26 10.30 11.92 11.57
Amgen Inc. 6.70 6.69 5.90 6.10 6.50 6.17 5.45 5.50 5.91 5.31 4.69 4.54 4.56 3.17 2.49 2.51 2.54 2.60 2.54 2.50 2.62
Bristol-Myers Squibb Co. 2.99 3.13 2.50 2.61 2.59 2.52 3.25 3.44 2.29 2.49 2.47 2.65 2.59 2.86 2.30 2.27 2.28 2.08 2.16 2.20 2.22
Eli Lilly & Co. 6.79 8.27 9.10 10.25 13.35 15.07 11.20 13.91 15.32 4.47 3.41 3.67 3.05 3.88 2.89 2.90 2.68 2.77 2.41 2.49 2.31
Gilead Sciences Inc. 3.56 3.76 3.49 3.10 2.71 2.74 2.87 2.79 2.86 2.98 2.81 3.02 3.18 3.44 2.60 2.66 2.82 3.02 3.36 3.22 3.57
Illumina Inc. 1.78 1.62 1.58 1.59 1.57 1.59 1.60 1.61 1.85 1.85 1.93 1.80 1.84 1.91 1.77 1.79 1.80 1.95 1.89 1.94 1.91
Johnson & Johnson 2.62 2.76 2.65 2.51 2.53 2.65 2.67 2.55 2.54 2.56 2.41 2.47 2.48 2.61 2.10 2.12 2.06 2.01 1.93 1.93 1.88
Merck & Co. Inc. 3.37 3.62 3.08 3.28 3.24 3.26 3.10 3.04 2.99 3.09 2.63 2.61 2.56 2.56 2.40 2.35 2.42 2.38 2.25 2.23 2.25
Pfizer Inc. 2.44 2.74 2.77 2.56 2.65 2.62 2.62 2.64 2.51 2.35 2.36 2.25 2.41 2.83 2.89 2.89 2.88 2.82 2.72 2.58
Regeneron Pharmaceuticals Inc. 1.48 1.56 1.59 1.59 1.30 1.34 1.33 1.35 1.36 1.34 1.37 1.38 1.43 1.43 1.44 1.47 1.61 1.57 1.52 1.52 1.57
Vertex Pharmaceuticals Inc. 1.35 1.35 1.39 1.36 1.38 1.37 1.43 1.39 1.39 1.41 1.59 1.61 1.65 1.75 1.79 1.97 1.96 2.50 2.55 2.60 2.60
Zoetis Inc. 3.37 3.61 3.81 4.38 4.19 4.26 4.21 4.56 4.70 4.93 4.94 4.37 4.43 4.85 4.67 4.55 4.75 5.14 4.87 5.54 6.40

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-19), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

1 Q1 2021 Calculation
Financial leverage = Total assets ÷ Total Abbott shareholders’ investment
= 72,785 ÷ 33,562 = 2.17

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’s financial leverage ratio increased from Q3 2020 to Q4 2020 but then decreased significantly from Q4 2020 to Q1 2021.

Interest Coverage

Abbott Laboratories, interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Net earnings (loss) 1,793  2,162  1,232  537  564  1,049  960  1,006  672  654  563  733  418  (828) 603  283  419  798  (329) 615  316 
Less: Net earnings from discontinued operations, net of tax —  —  —  20  —  —  —  —  (1) 11  15  36  42  13  33  33  28  16  260 
Add: Income tax expense 250  230  189  (11) 89  191  143  96  (40) 292  166  59  22  1,438  65  25  350  110  178  116  (54)
Add: Interest expense 135  136  137  134  139  164  167  168  171  186  203  210  227  246  218  214  226  153  117  103  58 
Earnings before interest and tax (EBIT) 2,178  2,524  1,558  660  772  1,404  1,270  1,270  803  1,133  921  987  658  820  844  509  962  1,028  (62) 818  60 
Solvency Ratio
Interest coverage1 12.77 10.10 7.66 6.80 7.39 7.09 6.47 5.67 4.99 4.48 3.82 3.67 3.13 3.47 4.12 3.43 4.58 4.28
Benchmarks
Interest Coverage, Competitors2
Amgen Inc. 7.64 7.44 7.62 7.62 7.85 8.09 7.97 7.63 7.61 7.86 7.98 8.35 8.41 8.36 8.44 8.46 8.25 8.27
Gilead Sciences Inc. 2.93 2.70 2.83 0.41 5.90 6.19 5.24 9.25 8.80 8.24 8.98 9.67 11.41 13.10 15.11 16.36 17.29 18.74
Illumina Inc. 15.86 18.47 19.80 21.05 23.15 22.50 18.34 16.69 15.85 16.68 19.94 20.81 20.03 29.19 28.79 29.69 30.05 17.91
Johnson & Johnson 73.87 83.07 96.82 81.36 81.56 55.49 34.61 29.04 20.98 18.91 17.95 18.54 18.77 19.92 24.03 25.69 27.08 28.28
Regeneron Pharmaceuticals Inc. 68.20 67.97 72.22 108.12 90.22 81.43 72.82 69.19 86.34 91.55 91.46 93.35 93.76 83.75 85.15 103.77 119.78 185.82
Vertex Pharmaceuticals Inc. 55.95 54.60 52.77 40.26 30.99 24.84 12.91 13.16 11.02 9.28 11.26 3.07 0.05 0.73 -0.65 4.75 3.80 0.17
Zoetis Inc. 10.30 9.64 9.79 9.72 9.71 9.08 8.88 8.46 8.69 9.20 9.64 10.12 9.87 9.71 8.99 8.60 8.52 8.40

Based on: 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-02-19), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

1 Q1 2021 Calculation
Interest coverage = (EBITQ1 2021 + EBITQ4 2020 + EBITQ3 2020 + EBITQ2 2020) ÷ (Interest expenseQ1 2021 + Interest expenseQ4 2020 + Interest expenseQ3 2020 + Interest expenseQ2 2020)
= (2,178 + 2,524 + 1,558 + 660) ÷ (135 + 136 + 137 + 134) = 12.77

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’s interest coverage ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.