Debt to Equity
since 2005
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AmerisourceBergen Corp. pages available for free this week:
- Cash Flow Statement
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
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Calculation
AmerisourceBergen Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total AmerisourceBergen Corporation stockholders’ equity (deficit)1 | |
|---|---|---|---|---|---|
| Sep 30, 2022 | = | ÷ | |||
| Sep 30, 2021 | = | ÷ | |||
| Sep 30, 2020 | = | ÷ | |||
| Sep 30, 2019 | = | ÷ | |||
| Sep 30, 2018 | = | ÷ | |||
| Sep 30, 2017 | = | ÷ | |||
| Sep 30, 2016 | = | ÷ | |||
| Sep 30, 2015 | = | ÷ | |||
| Sep 30, 2014 | = | ÷ | |||
| Sep 30, 2013 | = | ÷ | |||
| Sep 30, 2012 | = | ÷ | |||
| Sep 30, 2011 | = | ÷ | |||
| Sep 30, 2010 | = | ÷ | |||
| Sep 30, 2009 | = | ÷ | |||
| Sep 30, 2008 | = | ÷ | |||
| Sep 30, 2007 | = | ÷ | |||
| Sep 30, 2006 | = | ÷ | |||
| Sep 30, 2005 | = | ÷ |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$ in thousands
The financial data reveals several notable trends regarding debt levels, equity, and leverage ratios over the analyzed period.
- Total Debt
- Total debt exhibited a generally increasing trend from 2005 through 2021, rising from approximately 953 million to over 6.6 billion in 2021. The amount increased steadily with occasional moderate dips, such as between 2011 and 2013. A significant surge occurred between 2014 and 2016, where debt jumped from around 2.0 billion to over 4.2 billion, before stabilizing somewhat. The latest data points for 2022 show a reduction to approximately 5.7 billion, indicating some deleveraging.
- Total Stockholders’ Equity
- Stockholders’ equity displayed a declining trend from 2005 to 2015, falling sharply from approximately 4.3 billion to about 634 million. Notably, between 2010 and 2015, equity dropped significantly. Afterwards, equity values showed signs of recovery, rising again to about 2.9 billion by 2018 and 2019. However, a drastic drop occurred by 2020, with equity turning negative at approximately -1.0 billion, and remaining near zero or negative through 2022, indicating reduced net asset values or accumulated losses toward the end of the period.
- Debt to Equity Ratio
- The debt to equity ratio started fairly low at 0.22 in 2005 and gradually increased over the years, reflecting rising leverage. By 2013, the ratio reached around 1.0, indicating that debt levels were roughly equal to equity. The ratio spiked dramatically by 2015 to 5.51, implying that debt vastly exceeded equity, likely due to the sharp decline in equity around that time. Subsequently, the ratio decreased to values close to and below 2.0 in the following years, suggesting some improvement. The unusually high ratio of 29.93 shown in 2021 likely results from near-zero or negative equity values. The data for 2022 does not report a ratio, possibly due to negative equity or data limitations.
Overall, the analysis reveals increasing reliance on debt financing over time, accompanied by a significant deterioration in equity between 2010 and 2015. The leverage ratios reached very elevated levels in the mid-2010s, albeit with some subsequent partial restoration. The negative equity values recorded in recent years denote financial challenges, potentially reflecting accumulated losses or other impairments to net assets. The company's balance sheet structure shows heightened financial risk in the latter part of the period analyzed.
Comparison to Competitors
AmerisourceBergen Corp., debt to equity, long-term trends, comparison to competitors
| AmerisourceBergen Corp. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
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Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Sector (Health Care Equipment & Services)
AmerisourceBergen Corp., debt to equity, long-term trends, comparison to sector (health care equipment & services)
| AmerisourceBergen Corp. | Health Care Equipment & Services | |
|---|---|---|
| Sep 30, 2022 | ||
| Sep 30, 2021 | ||
| Sep 30, 2020 | ||
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| Sep 30, 2005 |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Industry (Health Care)
AmerisourceBergen Corp., debt to equity, long-term trends, comparison to industry (health care)
| AmerisourceBergen Corp. | Health Care | |
|---|---|---|
| Sep 30, 2022 | ||
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| Sep 30, 2005 |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).