Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Boston Scientific Corp., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Boston Scientific Corp. debt to equity ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Boston Scientific Corp. debt to capital ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Boston Scientific Corp. debt to assets ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Boston Scientific Corp. financial leverage ratio increased from Q3 2022 to Q4 2022 but then slightly decreased from Q4 2022 to Q1 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Boston Scientific Corp. interest coverage ratio improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Debt to Equity
Boston Scientific Corp., debt to equity calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Current debt obligations | 510) | 20) | 20) | 170) | 238) | 261) | 261) | 262) | 13) | 13) | 11) | 254) | 1,004) | 1,416) | 1,297) | 1,949) | 1,638) | 2,253) | 1,820) | 1,685) | 962) | |||||||
| Long-term debt | 8,495) | 8,915) | 8,564) | 8,802) | 9,067) | 8,804) | 8,824) | 8,847) | 9,082) | 9,130) | 9,325) | 9,278) | 9,331) | 8,592) | 9,590) | 7,591) | 7,590) | 4,803) | 4,806) | 4,808) | 4,803) | |||||||
| Total debt | 9,005) | 8,935) | 8,584) | 8,972) | 9,305) | 9,065) | 9,085) | 9,109) | 9,095) | 9,143) | 9,336) | 9,532) | 10,335) | 10,008) | 10,887) | 9,540) | 9,228) | 7,056) | 6,626) | 6,493) | 5,765) | |||||||
| Stockholders’ equity | 17,850) | 17,573) | 17,640) | 17,251) | 16,735) | 16,622) | 16,461) | 15,942) | 15,719) | 15,326) | 15,564) | 15,616) | 13,804) | 13,877) | 9,699) | 9,425) | 9,233) | 8,726) | 8,289) | 7,744) | 7,030) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to equity1 | 0.50 | 0.51 | 0.49 | 0.52 | 0.56 | 0.55 | 0.55 | 0.57 | 0.58 | 0.60 | 0.60 | 0.61 | 0.75 | 0.72 | 1.12 | 1.01 | 1.00 | 0.81 | 0.80 | 0.84 | 0.82 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 0.46 | 0.46 | 0.46 | 0.46 | 0.48 | 0.50 | 0.53 | 0.55 | 0.55 | 0.57 | 0.59 | 0.64 | 0.60 | 0.58 | 0.60 | 0.61 | 0.62 | — | — | — | — | |||||||
| Cigna Group | 0.73 | 0.69 | 0.70 | 0.73 | 0.72 | 0.71 | 0.72 | 0.68 | 0.66 | 0.65 | 0.75 | 0.77 | 0.81 | 0.83 | 0.87 | 0.89 | 0.95 | — | — | — | — | |||||||
| CVS Health Corp. | 0.82 | 0.74 | 0.74 | 0.73 | 0.76 | 0.75 | 0.79 | 0.81 | 0.87 | 0.93 | 0.97 | 1.05 | 1.10 | 1.07 | 1.10 | 1.16 | 1.25 | — | — | — | — | |||||||
| Danaher Corp. | 0.39 | 0.39 | 0.41 | 0.43 | 0.47 | 0.49 | 0.54 | 0.48 | 0.50 | 0.53 | 0.57 | 0.62 | 0.84 | 0.72 | 0.54 | 0.32 | 0.30 | — | — | — | — | |||||||
| Elevance Health Inc. | 0.68 | 0.66 | 0.66 | 0.66 | 0.65 | 0.64 | 0.64 | 0.66 | 0.69 | 0.60 | 0.61 | 0.62 | 0.68 | 0.63 | 0.65 | 0.63 | 0.64 | — | — | — | — | |||||||
| Humana Inc. | 0.72 | 0.75 | 0.67 | 0.85 | 0.87 | 0.80 | 0.77 | 0.50 | 0.54 | 0.51 | 0.51 | 0.56 | 0.66 | 0.49 | 0.55 | 0.50 | 0.58 | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | |||||||
| Medtronic PLC | 0.44 | 0.46 | 0.48 | 0.49 | 0.50 | 0.51 | 0.60 | 0.60 | 0.57 | 0.49 | 0.49 | 0.51 | 0.52 | 0.51 | 0.50 | 0.50 | 0.50 | 0.51 | 0.57 | 0.56 | 0.67 | |||||||
| UnitedHealth Group Inc. | 0.87 | 0.74 | 0.65 | 0.71 | 0.65 | 0.64 | 0.67 | 0.70 | 0.70 | 0.66 | 0.67 | 0.72 | 0.91 | 0.71 | 0.82 | 0.80 | 0.74 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 9,005 ÷ 17,850 = 0.50
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. | Boston Scientific Corp. debt to equity ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023. |
Debt to Capital
Boston Scientific Corp., debt to capital calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Current debt obligations | 510) | 20) | 20) | 170) | 238) | 261) | 261) | 262) | 13) | 13) | 11) | 254) | 1,004) | 1,416) | 1,297) | 1,949) | 1,638) | 2,253) | 1,820) | 1,685) | 962) | |||||||
| Long-term debt | 8,495) | 8,915) | 8,564) | 8,802) | 9,067) | 8,804) | 8,824) | 8,847) | 9,082) | 9,130) | 9,325) | 9,278) | 9,331) | 8,592) | 9,590) | 7,591) | 7,590) | 4,803) | 4,806) | 4,808) | 4,803) | |||||||
| Total debt | 9,005) | 8,935) | 8,584) | 8,972) | 9,305) | 9,065) | 9,085) | 9,109) | 9,095) | 9,143) | 9,336) | 9,532) | 10,335) | 10,008) | 10,887) | 9,540) | 9,228) | 7,056) | 6,626) | 6,493) | 5,765) | |||||||
| Stockholders’ equity | 17,850) | 17,573) | 17,640) | 17,251) | 16,735) | 16,622) | 16,461) | 15,942) | 15,719) | 15,326) | 15,564) | 15,616) | 13,804) | 13,877) | 9,699) | 9,425) | 9,233) | 8,726) | 8,289) | 7,744) | 7,030) | |||||||
| Total capital | 26,855) | 26,508) | 26,224) | 26,223) | 26,040) | 25,687) | 25,546) | 25,051) | 24,814) | 24,469) | 24,900) | 25,148) | 24,139) | 23,885) | 20,586) | 18,965) | 18,461) | 15,782) | 14,915) | 14,237) | 12,795) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to capital1 | 0.34 | 0.34 | 0.33 | 0.34 | 0.36 | 0.35 | 0.36 | 0.36 | 0.37 | 0.37 | 0.37 | 0.38 | 0.43 | 0.42 | 0.53 | 0.50 | 0.50 | 0.45 | 0.44 | 0.46 | 0.45 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 0.31 | 0.31 | 0.32 | 0.31 | 0.33 | 0.34 | 0.35 | 0.35 | 0.35 | 0.36 | 0.37 | 0.39 | 0.38 | 0.37 | 0.38 | 0.38 | 0.38 | — | — | — | — | |||||||
| Cigna Group | 0.42 | 0.41 | 0.41 | 0.42 | 0.42 | 0.42 | 0.42 | 0.40 | 0.40 | 0.40 | 0.43 | 0.44 | 0.45 | 0.45 | 0.46 | 0.47 | 0.49 | — | — | — | — | |||||||
| CVS Health Corp. | 0.45 | 0.42 | 0.42 | 0.42 | 0.43 | 0.43 | 0.44 | 0.45 | 0.47 | 0.48 | 0.49 | 0.51 | 0.52 | 0.52 | 0.52 | 0.54 | 0.56 | — | — | — | — | |||||||
| Danaher Corp. | 0.28 | 0.28 | 0.29 | 0.30 | 0.32 | 0.33 | 0.35 | 0.32 | 0.33 | 0.35 | 0.37 | 0.38 | 0.46 | 0.42 | 0.35 | 0.24 | 0.23 | — | — | — | — | |||||||
| Elevance Health Inc. | 0.41 | 0.40 | 0.40 | 0.40 | 0.39 | 0.39 | 0.39 | 0.40 | 0.41 | 0.38 | 0.38 | 0.38 | 0.41 | 0.39 | 0.39 | 0.39 | 0.39 | — | — | — | — | |||||||
| Humana Inc. | 0.42 | 0.43 | 0.40 | 0.46 | 0.46 | 0.44 | 0.43 | 0.33 | 0.35 | 0.34 | 0.34 | 0.36 | 0.40 | 0.33 | 0.35 | 0.33 | 0.37 | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | |||||||
| Medtronic PLC | 0.31 | 0.31 | 0.32 | 0.33 | 0.34 | 0.34 | 0.37 | 0.37 | 0.36 | 0.33 | 0.33 | 0.34 | 0.34 | 0.34 | 0.33 | 0.34 | 0.33 | 0.34 | 0.36 | 0.36 | 0.40 | |||||||
| UnitedHealth Group Inc. | 0.46 | 0.43 | 0.39 | 0.41 | 0.39 | 0.39 | 0.40 | 0.41 | 0.41 | 0.40 | 0.40 | 0.42 | 0.48 | 0.41 | 0.45 | 0.44 | 0.43 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 9,005 ÷ 26,855 = 0.34
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. | Boston Scientific Corp. debt to capital ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023. |
Debt to Assets
Boston Scientific Corp., debt to assets calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Current debt obligations | 510) | 20) | 20) | 170) | 238) | 261) | 261) | 262) | 13) | 13) | 11) | 254) | 1,004) | 1,416) | 1,297) | 1,949) | 1,638) | 2,253) | 1,820) | 1,685) | 962) | |||||||
| Long-term debt | 8,495) | 8,915) | 8,564) | 8,802) | 9,067) | 8,804) | 8,824) | 8,847) | 9,082) | 9,130) | 9,325) | 9,278) | 9,331) | 8,592) | 9,590) | 7,591) | 7,590) | 4,803) | 4,806) | 4,808) | 4,803) | |||||||
| Total debt | 9,005) | 8,935) | 8,584) | 8,972) | 9,305) | 9,065) | 9,085) | 9,109) | 9,095) | 9,143) | 9,336) | 9,532) | 10,335) | 10,008) | 10,887) | 9,540) | 9,228) | 7,056) | 6,626) | 6,493) | 5,765) | |||||||
| Total assets | 32,892) | 32,469) | 31,947) | 32,189) | 32,337) | 32,229) | 31,877) | 31,168) | 30,900) | 30,777) | 30,845) | 30,823) | 30,113) | 30,565) | 26,756) | 24,309) | 23,802) | 20,999) | 20,379) | 19,615) | 19,202) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to assets1 | 0.27 | 0.28 | 0.27 | 0.28 | 0.29 | 0.28 | 0.29 | 0.29 | 0.29 | 0.30 | 0.30 | 0.31 | 0.34 | 0.33 | 0.41 | 0.39 | 0.39 | 0.34 | 0.33 | 0.33 | 0.30 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 0.23 | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.25 | 0.25 | 0.25 | 0.26 | 0.27 | 0.29 | 0.27 | 0.27 | 0.28 | 0.28 | 0.28 | — | — | — | — | |||||||
| Cigna Group | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 | 0.21 | 0.21 | 0.21 | 0.22 | 0.23 | 0.24 | 0.24 | 0.25 | 0.25 | 0.26 | — | — | — | — | |||||||
| CVS Health Corp. | 0.24 | 0.23 | 0.23 | 0.24 | 0.24 | 0.24 | 0.25 | 0.26 | 0.27 | 0.28 | 0.29 | 0.30 | 0.31 | 0.31 | 0.31 | 0.33 | 0.34 | — | — | — | — | |||||||
| Danaher Corp. | 0.23 | 0.23 | 0.24 | 0.25 | 0.26 | 0.27 | 0.29 | 0.26 | 0.27 | 0.28 | 0.30 | 0.31 | 0.38 | 0.35 | 0.29 | 0.19 | 0.18 | — | — | — | — | |||||||
| Elevance Health Inc. | 0.23 | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.23 | 0.24 | 0.24 | 0.23 | 0.24 | 0.24 | 0.26 | 0.26 | 0.26 | 0.25 | 0.26 | — | — | — | — | |||||||
| Humana Inc. | 0.22 | 0.27 | 0.21 | 0.28 | 0.29 | 0.29 | 0.28 | 0.19 | 0.20 | 0.20 | 0.21 | 0.21 | 0.23 | 0.20 | 0.22 | 0.21 | 0.22 | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | |||||||
| Medtronic PLC | 0.26 | 0.27 | 0.27 | 0.28 | 0.28 | 0.28 | 0.31 | 0.31 | 0.31 | 0.27 | 0.28 | 0.28 | 0.29 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.30 | 0.31 | 0.34 | |||||||
| UnitedHealth Group Inc. | 0.25 | 0.23 | 0.20 | 0.22 | 0.21 | 0.22 | 0.22 | 0.23 | 0.23 | 0.22 | 0.23 | 0.24 | 0.27 | 0.23 | 0.26 | 0.25 | 0.24 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 9,005 ÷ 32,892 = 0.27
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. | Boston Scientific Corp. debt to assets ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023. |
Financial Leverage
Boston Scientific Corp., financial leverage calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Total assets | 32,892) | 32,469) | 31,947) | 32,189) | 32,337) | 32,229) | 31,877) | 31,168) | 30,900) | 30,777) | 30,845) | 30,823) | 30,113) | 30,565) | 26,756) | 24,309) | 23,802) | 20,999) | 20,379) | 19,615) | 19,202) | |||||||
| Stockholders’ equity | 17,850) | 17,573) | 17,640) | 17,251) | 16,735) | 16,622) | 16,461) | 15,942) | 15,719) | 15,326) | 15,564) | 15,616) | 13,804) | 13,877) | 9,699) | 9,425) | 9,233) | 8,726) | 8,289) | 7,744) | 7,030) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Financial leverage1 | 1.84 | 1.85 | 1.81 | 1.87 | 1.93 | 1.94 | 1.94 | 1.96 | 1.97 | 2.01 | 1.98 | 1.97 | 2.18 | 2.20 | 2.76 | 2.58 | 2.58 | 2.41 | 2.46 | 2.53 | 2.73 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 1.99 | 2.03 | 2.04 | 2.03 | 2.09 | 2.10 | 2.14 | 2.17 | 2.17 | 2.21 | 2.20 | 2.25 | 2.21 | 2.18 | 2.15 | 2.16 | 2.19 | — | — | — | — | |||||||
| Cigna Group | 3.33 | 3.21 | 3.20 | 3.33 | 3.31 | 3.29 | 3.25 | 3.17 | 3.16 | 3.09 | 3.33 | 3.37 | 3.43 | 3.44 | 3.46 | 3.52 | 3.64 | — | — | — | — | |||||||
| CVS Health Corp. | 3.35 | 3.21 | 3.27 | 3.06 | 3.15 | 3.10 | 3.16 | 3.16 | 3.24 | 3.32 | 3.38 | 3.46 | 3.54 | 3.48 | 3.52 | 3.57 | 3.68 | — | — | — | — | |||||||
| Danaher Corp. | 1.65 | 1.68 | 1.72 | 1.76 | 1.80 | 1.84 | 1.90 | 1.82 | 1.87 | 1.92 | 1.92 | 1.97 | 2.22 | 2.05 | 1.89 | 1.66 | 1.64 | — | — | — | — | |||||||
| Elevance Health Inc. | 2.92 | 2.83 | 2.86 | 2.82 | 2.79 | 2.70 | 2.74 | 2.75 | 2.83 | 2.61 | 2.55 | 2.55 | 2.60 | 2.44 | 2.48 | 2.46 | 2.48 | — | — | — | — | |||||||
| Humana Inc. | 3.30 | 2.81 | 3.12 | 3.02 | 3.02 | 2.76 | 2.79 | 2.56 | 2.64 | 2.55 | 2.44 | 2.67 | 2.80 | 2.42 | 2.52 | 2.44 | 2.61 | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 1.16 | 1.17 | 1.15 | 1.14 | 1.13 | 1.14 | 1.13 | 1.13 | 1.14 | 1.15 | 1.15 | 1.16 | 1.16 | 1.18 | 1.18 | 1.17 | 1.17 | — | — | — | — | |||||||
| Medtronic PLC | 1.71 | 1.73 | 1.75 | 1.76 | 1.78 | 1.81 | 1.92 | 1.91 | 1.87 | 1.79 | 1.79 | 1.80 | 1.81 | 1.79 | 1.78 | 1.78 | 1.79 | 1.80 | 1.91 | 1.84 | 1.98 | |||||||
| UnitedHealth Group Inc. | 3.49 | 3.16 | 3.26 | 3.16 | 3.04 | 2.96 | 3.03 | 3.05 | 3.09 | 3.01 | 2.93 | 3.03 | 3.32 | 3.02 | 3.16 | 3.15 | 3.12 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 32,892 ÷ 17,850 = 1.84
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. | Boston Scientific Corp. financial leverage ratio increased from Q3 2022 to Q4 2022 but then slightly decreased from Q4 2022 to Q1 2023. |
Interest Coverage
Boston Scientific Corp., interest coverage calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income (loss) | 314) | 140) | 188) | 260) | 110) | 95) | 419) | 186) | 341) | 209) | (155) | (147) | 11) | 3,996) | 126) | 154) | 424) | 386) | 432) | 555) | 298) | |||||||
| Add: Income tax expense | 130) | 255) | 57) | 85) | 46) | 24) | 64) | (37) | (16) | 98) | (72) | (34) | 11) | (4,002) | (35) | (9) | 33) | (90) | 24) | (208) | 25) | |||||||
| Add: Interest expense | 65) | 64) | 63) | 64) | 279) | 87) | 86) | 86) | 82) | 96) | 86) | 91) | 88) | 180) | 95) | 89) | 109) | 65) | 58) | 57) | 61) | |||||||
| Earnings before interest and tax (EBIT) | 509) | 459) | 308) | 409) | 435) | 206) | 569) | 235) | 407) | 403) | (141) | (90) | 110) | 174) | 186) | 234) | 566) | 361) | 514) | 404) | 384) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Interest coverage1 | 6.58 | 3.43 | 2.75 | 3.14 | 2.69 | 4.16 | 4.61 | 2.58 | 1.63 | 0.78 | 0.12 | 0.84 | 1.56 | 2.45 | 3.76 | 5.22 | 6.38 | 6.90 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 13.06 | 15.89 | 18.41 | 20.07 | 18.10 | 16.41 | 16.38 | 14.28 | 12.77 | 10.10 | 7.66 | 6.80 | 7.39 | 7.09 | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | 3.43 | 3.46 | 2.75 | 5.49 | 5.27 | 5.16 | 4.92 | 4.60 | 4.52 | 4.36 | 4.67 | 4.76 | 4.29 | 3.96 | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 36.52 | 40.30 | 41.32 | 35.26 | 33.54 | 32.92 | 28.74 | 25.87 | 21.54 | 17.35 | 16.90 | 20.00 | 25.33 | 31.44 | — | — | — | — | — | — | — | |||||||
| Elevance Health Inc. | 9.95 | 10.13 | 10.75 | 10.71 | 11.01 | 10.93 | 10.04 | 8.03 | 9.09 | 8.96 | 9.59 | 11.16 | 9.14 | 9.02 | — | — | — | — | — | — | — | |||||||
| Humana Inc. | 10.30 | 9.89 | 10.31 | 11.61 | 11.27 | 11.49 | 10.87 | 11.78 | 18.22 | 17.52 | 22.25 | 19.81 | 15.36 | 15.34 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 10.88 | 10.98 | 10.95 | 10.18 | 5.65 | 5.21 | 3.68 | 4.02 | 6.60 | 4.71 | 4.12 | 3.84 | 3.76 | 4.60 | 6.40 | 5.94 | 6.14 | 5.95 | — | — | — | |||||||
| UnitedHealth Group Inc. | 12.25 | 13.59 | 14.66 | 14.45 | 14.26 | 14.44 | 13.46 | 13.03 | 14.88 | 13.47 | 14.12 | 13.89 | 11.40 | 11.55 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Interest coverage
= (EBITQ1 2023
+ EBITQ4 2022
+ EBITQ3 2022
+ EBITQ2 2022)
÷ (Interest expenseQ1 2023
+ Interest expenseQ4 2022
+ Interest expenseQ3 2022
+ Interest expenseQ2 2022)
= (509 + 459 + 308 + 409)
÷ (65 + 64 + 63 + 64)
= 6.58
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. | Boston Scientific Corp. interest coverage ratio improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |