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Analysis of Solvency Ratios
Beginner level
Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.
Solvency Ratios (Summary)
Becton, Dickinson & Co., solvency ratios
Based on: 10-K (filing date: 2019-11-27), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-26).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Becton, Dickinson & Co.’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. | Becton, Dickinson & Co.’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. | Becton, Dickinson & Co.’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. | Becton, Dickinson & Co.’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. | Becton, Dickinson & Co.’s interest coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Becton, Dickinson & Co.’s fixed charge coverage ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Debt to Equity
Becton, Dickinson & Co., debt to equity calculation, comparison to benchmarks
| Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2015 | Sep 30, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term debt | |||||||
| Long-term debt, excluding current portion | |||||||
| Total debt | |||||||
| Shareholders’ equity | |||||||
| Solvency Ratio | |||||||
| Debt to equity1 | |||||||
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Boston Scientific Corp. | |||||||
| Danaher Corp. | |||||||
| Intuitive Surgical Inc. | |||||||
| Medtronic PLC | |||||||
| Stryker Corp. | |||||||
| Thermo Fisher Scientific Inc. | |||||||
| UnitedHealth Group Inc. | |||||||
| Debt to Equity, Sector | |||||||
| Health Care Equipment & Services | |||||||
| Debt to Equity, Industry | |||||||
| Health Care | |||||||
Based on: 10-K (filing date: 2019-11-27), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-26).
1 2019 Calculation
Debt to equity = Total debt ÷ 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. | Becton, Dickinson & Co.’s debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019. |
Debt to Capital
Becton, Dickinson & Co., debt to capital calculation, comparison to benchmarks
| Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2015 | Sep 30, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term debt | |||||||
| Long-term debt, excluding current portion | |||||||
| Total debt | |||||||
| Shareholders’ equity | |||||||
| Total capital | |||||||
| Solvency Ratio | |||||||
| Debt to capital1 | |||||||
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Boston Scientific Corp. | |||||||
| Danaher Corp. | |||||||
| Intuitive Surgical Inc. | |||||||
| Medtronic PLC | |||||||
| Stryker Corp. | |||||||
| Thermo Fisher Scientific Inc. | |||||||
| UnitedHealth Group Inc. | |||||||
| Debt to Capital, Sector | |||||||
| Health Care Equipment & Services | |||||||
| Debt to Capital, Industry | |||||||
| Health Care | |||||||
Based on: 10-K (filing date: 2019-11-27), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-26).
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. | Becton, Dickinson & Co.’s debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019. |
Debt to Assets
Becton, Dickinson & Co., debt to assets calculation, comparison to benchmarks
| Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2015 | Sep 30, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term debt | |||||||
| Long-term debt, excluding current portion | |||||||
| Total debt | |||||||
| Total assets | |||||||
| Solvency Ratio | |||||||
| Debt to assets1 | |||||||
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Boston Scientific Corp. | |||||||
| Danaher Corp. | |||||||
| Intuitive Surgical Inc. | |||||||
| Medtronic PLC | |||||||
| Stryker Corp. | |||||||
| Thermo Fisher Scientific Inc. | |||||||
| UnitedHealth Group Inc. | |||||||
| Debt to Assets, Sector | |||||||
| Health Care Equipment & Services | |||||||
| Debt to Assets, Industry | |||||||
| Health Care | |||||||
Based on: 10-K (filing date: 2019-11-27), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-26).
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. | Becton, Dickinson & Co.’s debt to assets ratio improved from 2017 to 2018 and from 2018 to 2019. |
Financial Leverage
Becton, Dickinson & Co., financial leverage calculation, comparison to benchmarks
| Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2015 | Sep 30, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | |||||||
| Shareholders’ equity | |||||||
| Solvency Ratio | |||||||
| Financial leverage1 | |||||||
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Boston Scientific Corp. | |||||||
| Danaher Corp. | |||||||
| Intuitive Surgical Inc. | |||||||
| Medtronic PLC | |||||||
| Stryker Corp. | |||||||
| Thermo Fisher Scientific Inc. | |||||||
| UnitedHealth Group Inc. | |||||||
| Financial Leverage, Sector | |||||||
| Health Care Equipment & Services | |||||||
| Financial Leverage, Industry | |||||||
| Health Care | |||||||
Based on: 10-K (filing date: 2019-11-27), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-26).
1 2019 Calculation
Financial leverage = Total assets ÷ 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. | Becton, Dickinson & Co.’s financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019. |
Interest Coverage
Becton, Dickinson & Co., interest coverage calculation, comparison to benchmarks
| Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2015 | Sep 30, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income | |||||||
| Add: Income tax expense | |||||||
| Add: Interest expense | |||||||
| Earnings before interest and tax (EBIT) | |||||||
| Solvency Ratio | |||||||
| Interest coverage1 | |||||||
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Boston Scientific Corp. | |||||||
| Danaher Corp. | |||||||
| Intuitive Surgical Inc. | |||||||
| Medtronic PLC | |||||||
| Stryker Corp. | |||||||
| Thermo Fisher Scientific Inc. | |||||||
| UnitedHealth Group Inc. | |||||||
| Interest Coverage, Sector | |||||||
| Health Care Equipment & Services | |||||||
| Interest Coverage, Industry | |||||||
| Health Care | |||||||
Based on: 10-K (filing date: 2019-11-27), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-26).
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. | Becton, Dickinson & Co.’s interest coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
Fixed Charge Coverage
Becton, Dickinson & Co., fixed charge coverage calculation, comparison to benchmarks
| Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2015 | Sep 30, 2014 | ||
|---|---|---|---|---|---|---|---|
| Federal statutory tax rate | |||||||
| Selected Financial Data (US$ in millions) | |||||||
| Net income | |||||||
| Add: Income tax expense | |||||||
| Add: Interest expense | |||||||
| Earnings before interest and tax (EBIT) | |||||||
| Add: Rental expense for all operating leases | |||||||
| Earnings before fixed charges and tax | |||||||
| Interest expense | |||||||
| Rental expense for all operating leases | |||||||
| Preferred stock dividends | |||||||
| Preferred stock dividends, tax adjustment1 | |||||||
| Preferred stock dividends, after tax adjustment | |||||||
| Fixed charges | |||||||
| Solvency Ratio | |||||||
| Fixed charge coverage2 | |||||||
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors3 | |||||||
| Boston Scientific Corp. | |||||||
| Danaher Corp. | |||||||
| Intuitive Surgical Inc. | |||||||
| Medtronic PLC | |||||||
| Stryker Corp. | |||||||
| Thermo Fisher Scientific Inc. | |||||||
| UnitedHealth Group Inc. | |||||||
| Fixed Charge Coverage, Sector | |||||||
| Health Care Equipment & Services | |||||||
| Fixed Charge Coverage, Industry | |||||||
| Health Care | |||||||
Based on: 10-K (filing date: 2019-11-27), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-26).
1 2019 Calculation
Preferred stock dividends, tax adjustment = (Preferred stock dividends × Federal statutory tax rate) ÷ (1 − Federal statutory tax rate)
= ( × ) ÷ (1 − ) =
2 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =
3 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. | Becton, Dickinson & Co.’s fixed charge coverage ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |