Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Air Products & Chemicals Inc. (NYSE:APD)

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Analysis of Solvency Ratios

Beginner level


Solvency Ratios (Summary)

Air Products & Chemicals Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015 Sep 30, 2014
Debt Ratios
Debt to equity
Debt to capital
Debt to assets
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24), 10-K (filing date: 2014-11-24).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Air Products & Chemicals Inc.’s debt to equity ratio improved 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. Air Products & Chemicals Inc.’s debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Air Products & Chemicals Inc.’s debt to assets ratio improved from 2017 to 2018 and from 2018 to 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Air Products & Chemicals Inc.’s financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Air Products & Chemicals Inc.’s interest coverage ratio improved from 2017 to 2018 and from 2018 to 2019.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Air Products & Chemicals Inc.’s fixed charge coverage ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Equity

Air Products & Chemicals Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015 Sep 30, 2014
Selected Financial Data (US$ in thousands)
Short-term borrowings
Current portion of long-term debt
Long-term debt, excluding current portion
Long-term debt, related party
Total debt
 
Total Air Products shareholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Ecolab Inc.
Linde plc
Debt to Equity, Sector
Chemicals
Debt to Equity, Industry
Basic Materials

Based on: 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24), 10-K (filing date: 2014-11-24).

1 2019 Calculation
Debt to equity = Total debt ÷ Total Air Products shareholders’ equity
= ÷ =

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. Air Products & Chemicals Inc.’s debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Capital

Air Products & Chemicals Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015 Sep 30, 2014
Selected Financial Data (US$ in thousands)
Short-term borrowings
Current portion of long-term debt
Long-term debt, excluding current portion
Long-term debt, related party
Total debt
Total Air Products shareholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Ecolab Inc.
Linde plc
Debt to Capital, Sector
Chemicals
Debt to Capital, Industry
Basic Materials

Based on: 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24), 10-K (filing date: 2014-11-24).

1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

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. Air Products & Chemicals Inc.’s debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Assets

Air Products & Chemicals Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015 Sep 30, 2014
Selected Financial Data (US$ in thousands)
Short-term borrowings
Current portion of long-term debt
Long-term debt, excluding current portion
Long-term debt, related party
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Ecolab Inc.
Linde plc
Debt to Assets, Sector
Chemicals
Debt to Assets, Industry
Basic Materials

Based on: 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24), 10-K (filing date: 2014-11-24).

1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

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. Air Products & Chemicals Inc.’s debt to assets ratio improved from 2017 to 2018 and from 2018 to 2019.

Financial Leverage

Air Products & Chemicals Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015 Sep 30, 2014
Selected Financial Data (US$ in thousands)
Total assets
Total Air Products shareholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Ecolab Inc.
Linde plc
Financial Leverage, Sector
Chemicals
Financial Leverage, Industry
Basic Materials

Based on: 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24), 10-K (filing date: 2014-11-24).

1 2019 Calculation
Financial leverage = Total assets ÷ Total Air Products shareholders’ equity
= ÷ =

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. Air Products & Chemicals Inc.’s financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019.

Interest Coverage

Air Products & Chemicals Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015 Sep 30, 2014
Selected Financial Data (US$ in thousands)
Net income attributable to Air Products
Add: Net income attributable to noncontrolling interest
Less: Income (loss) from discontinued operations, net of tax
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Ecolab Inc.
Linde plc
Interest Coverage, Sector
Chemicals
Interest Coverage, Industry
Basic Materials

Based on: 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24), 10-K (filing date: 2014-11-24).

1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

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. Air Products & Chemicals Inc.’s interest coverage ratio improved from 2017 to 2018 and from 2018 to 2019.

Fixed Charge Coverage

Air Products & Chemicals Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015 Sep 30, 2014
Selected Financial Data (US$ in thousands)
Net income attributable to Air Products
Add: Net income attributable to noncontrolling interest
Less: Income (loss) from discontinued operations, net of tax
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Rent expense under operating leases
Earnings before fixed charges and tax
 
Interest expense
Rent expense under operating leases
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
Ecolab Inc.
Linde plc
Fixed Charge Coverage, Sector
Chemicals
Fixed Charge Coverage, Industry
Basic Materials

Based on: 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24), 10-K (filing date: 2014-11-24).

1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

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. Air Products & Chemicals Inc.’s fixed charge coverage ratio improved from 2017 to 2018 and from 2018 to 2019.