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Becton, Dickinson & Co. (BDX)
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 | |
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| Long-term debt, excluding current portion | |
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| Total debt | |
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| Shareholders’ equity | |
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| Solvency Ratio | |||||||
| Debt to equity1 | |
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| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Boston Scientific Corp. | |
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| Intuitive Surgical Inc. | |
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| Medtronic PLC | |
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| Stryker Corp. | |
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| Thermo Fisher Scientific Inc. | |
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| UnitedHealth Group Inc. | |
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| Debt to Equity, Sector | |||||||
| Health Care Equipment & Services | |
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| Debt to Equity, Industry | |||||||
| Health Care | |
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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 | |
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| Long-term debt, excluding current portion | |
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| Total debt | |
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| Shareholders’ equity | |
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| Total capital | |
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| Solvency Ratio | |||||||
| Debt to capital1 | |
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| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Boston Scientific Corp. | |
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| Intuitive Surgical Inc. | |
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| Medtronic PLC | |
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| Stryker Corp. | |
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| Thermo Fisher Scientific Inc. | |
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| UnitedHealth Group Inc. | |
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| Debt to Capital, Sector | |||||||
| Health Care Equipment & Services | |
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| Debt to Capital, Industry | |||||||
| Health Care | |
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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 | |
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| Long-term debt, excluding current portion | |
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| Total debt | |
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| Total assets | |
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| Solvency Ratio | |||||||
| Debt to assets1 | |
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| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Boston Scientific Corp. | |
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| Intuitive Surgical Inc. | |
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| Medtronic PLC | |
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| Stryker Corp. | |
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| Thermo Fisher Scientific Inc. | |
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| UnitedHealth Group Inc. | |
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| Debt to Assets, Sector | |||||||
| Health Care Equipment & Services | |
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| Debt to Assets, Industry | |||||||
| Health Care | |
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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 | |
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| Shareholders’ equity | |
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| Solvency Ratio | |||||||
| Financial leverage1 | |
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| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Boston Scientific Corp. | |
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| Intuitive Surgical Inc. | |
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| Medtronic PLC | |
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| Stryker Corp. | |
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| Thermo Fisher Scientific Inc. | |
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| UnitedHealth Group Inc. | |
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| Financial Leverage, Sector | |||||||
| Health Care Equipment & Services | |
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| Financial Leverage, Industry | |||||||
| Health Care | |
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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 | |
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| Add: Income tax expense | |
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| Add: Interest expense | |
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| Earnings before interest and tax (EBIT) | |
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| Solvency Ratio | |||||||
| Interest coverage1 | |
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| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Boston Scientific Corp. | |
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|
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| Intuitive Surgical Inc. | |
|
|
|
|
|
|
| Medtronic PLC | |
|
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
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| UnitedHealth Group Inc. | |
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| Interest Coverage, Sector | |||||||
| Health Care Equipment & Services | |
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| Interest Coverage, Industry | |||||||
| Health Care | |
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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 | |
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| Selected Financial Data (US$ in millions) | |||||||
| Net income | |
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| Add: Income tax expense | |
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| Add: Interest expense | |
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| Earnings before interest and tax (EBIT) | |
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| Add: Rental expense for all operating leases | |
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| Earnings before fixed charges and tax | |
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| Interest expense | |
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| Rental expense for all operating leases | |
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| Preferred stock dividends | |
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| Preferred stock dividends, tax adjustment1 | |
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| Preferred stock dividends, after tax adjustment | |
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| Fixed charges | |
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| Solvency Ratio | |||||||
| Fixed charge coverage2 | |
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| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors3 | |||||||
| Boston Scientific Corp. | |
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| Medtronic PLC | |
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|
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| Stryker Corp. | |
|
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|
|
|
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| Thermo Fisher Scientific Inc. | |
|
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| UnitedHealth Group Inc. | |
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| Fixed Charge Coverage, Sector | |||||||
| Health Care Equipment & Services | |
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| Fixed Charge Coverage, Industry | |||||||
| Health Care | |
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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. |