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Long-term Debt and Solvency Analysis

Difficulty: Beginner

Solvency ratios also known as long-term debt ratios measure a company's ability to meet long-term obligations.


Ratios (Summary)

Altria Group Inc., 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 Altria Group Inc. Annual Reports

Ratio Description The company
Debt-to-equity ratio A solvency ratio calculated as total debt divided by total shareholders' equity. Altria Group Inc.'s debt-to-equity ratio improved 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. Altria Group Inc.'s debt-to-capital ratio improved from 2015 to 2016 and from 2016 to 2017.
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Altria Group Inc.'s interest coverage ratio improved from 2015 to 2016 but then slightly deteriorated from 2016 to 2017 not reaching 2015 level.

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Debt to Equity

Altria Group Inc., 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)
Current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Stockholders’ equity attributable to Altria Group, Inc.
Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors
Philip Morris International Inc.
Debt to Equity, Sector
Tobacco
Debt to Equity, Industry
Consumer Goods

Source: Based on data from Altria Group Inc. Annual Reports

2017 Calculations

1 Debt to equity = Total debt ÷ Stockholders’ equity attributable to Altria Group, Inc.
= ÷ =

Ratio Description The company
Debt-to-equity ratio A solvency ratio calculated as total debt divided by total shareholders' equity. Altria Group Inc.'s debt-to-equity ratio improved from 2015 to 2016 and from 2016 to 2017.

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Debt to Capital

Altria Group Inc., 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)
Current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Stockholders’ equity attributable to Altria Group, Inc.
Total capital
Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors
Philip Morris International Inc.
Debt to Capital, Sector
Tobacco
Debt to Capital, Industry
Consumer Goods

Source: Based on data from Altria Group Inc. 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. Altria Group Inc.'s debt-to-capital ratio improved from 2015 to 2016 and from 2016 to 2017.

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Interest Coverage

Altria Group Inc., 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 earnings attributable to Altria Group, Inc.
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
Philip Morris International Inc.
Interest Coverage, Sector
Tobacco
Interest Coverage, Industry
Consumer Goods

Source: Based on data from Altria Group Inc. 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. Altria Group Inc.'s interest coverage ratio improved from 2015 to 2016 but then slightly deteriorated from 2016 to 2017 not reaching 2015 level.

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