Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
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Bristol-Myers Squibb Co. pages available for free this week:
- Common-Size Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to the Firm (FCFF)
- Return on Assets (ROA) since 2005
- Analysis of Investments
- Analysis of Inventory
- Analysis of Debt
- Analysis of Operating Leases
- Analysis of Bad Debts
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Solvency Ratios (Summary)
Bristol-Myers Squibb Co., solvency ratios
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Bristol-Myers Squibb Co. debt to equity ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Bristol-Myers Squibb Co. debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Bristol-Myers Squibb Co. debt to capital ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Bristol-Myers Squibb Co. debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Bristol-Myers Squibb Co. debt to assets ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Bristol-Myers Squibb Co. debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Bristol-Myers Squibb Co. financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Bristol-Myers Squibb Co. interest coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Bristol-Myers Squibb Co. fixed charge coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Debt to Equity
Bristol-Myers Squibb Co., debt to equity calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | ||||||
| Long-term debt, excluding current portion | ||||||
| Total debt | ||||||
| Total Bristol-Myers Squibb Company shareholders’ equity | ||||||
| Solvency Ratio | ||||||
| Debt to equity1 | ||||||
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Abbott Laboratories | ||||||
| Anthem Inc. | ||||||
| Becton, Dickinson & Co. | ||||||
| CVS Health Corp. | ||||||
| Danaher Corp. | ||||||
| Edwards Lifesciences Corp. | ||||||
| HCA Healthcare Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| Stryker Corp. | ||||||
| UnitedHealth Group Inc. | ||||||
| Debt to Equity, Sector | ||||||
| Health Care Equipment & Services | ||||||
| Debt to Equity, Industry | ||||||
| Health Care | ||||||
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Debt to equity = Total debt ÷ Total Bristol-Myers Squibb Company 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. | Bristol-Myers Squibb Co. debt to equity ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Debt to Equity (including Operating Lease Liability)
Bristol-Myers Squibb Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | ||||||
| Long-term debt, excluding current portion | ||||||
| Total debt | ||||||
| Current operating lease liabilities | ||||||
| Non-current operating lease liabilities | ||||||
| Total debt (including operating lease liability) | ||||||
| Total Bristol-Myers Squibb Company shareholders’ equity | ||||||
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | ||||||
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Abbott Laboratories | ||||||
| Anthem Inc. | ||||||
| Becton, Dickinson & Co. | ||||||
| CVS Health Corp. | ||||||
| Danaher Corp. | ||||||
| Edwards Lifesciences Corp. | ||||||
| HCA Healthcare Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| Stryker Corp. | ||||||
| UnitedHealth Group Inc. | ||||||
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Health Care Equipment & Services | ||||||
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Health Care | ||||||
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Bristol-Myers Squibb Company shareholders’ equity
= ÷ =
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Bristol-Myers Squibb Co. debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020. |
Debt to Capital
Bristol-Myers Squibb Co., debt to capital calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | ||||||
| Long-term debt, excluding current portion | ||||||
| Total debt | ||||||
| Total Bristol-Myers Squibb Company shareholders’ equity | ||||||
| Total capital | ||||||
| Solvency Ratio | ||||||
| Debt to capital1 | ||||||
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Abbott Laboratories | ||||||
| Anthem Inc. | ||||||
| Becton, Dickinson & Co. | ||||||
| CVS Health Corp. | ||||||
| Danaher Corp. | ||||||
| Edwards Lifesciences Corp. | ||||||
| HCA Healthcare Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| Stryker Corp. | ||||||
| UnitedHealth Group Inc. | ||||||
| Debt to Capital, Sector | ||||||
| Health Care Equipment & Services | ||||||
| Debt to Capital, Industry | ||||||
| Health Care | ||||||
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 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. | Bristol-Myers Squibb Co. debt to capital ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Debt to Capital (including Operating Lease Liability)
Bristol-Myers Squibb Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | ||||||
| Long-term debt, excluding current portion | ||||||
| Total debt | ||||||
| Current operating lease liabilities | ||||||
| Non-current operating lease liabilities | ||||||
| Total debt (including operating lease liability) | ||||||
| Total Bristol-Myers Squibb Company shareholders’ equity | ||||||
| Total capital (including operating lease liability) | ||||||
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | ||||||
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Abbott Laboratories | ||||||
| Anthem Inc. | ||||||
| Becton, Dickinson & Co. | ||||||
| CVS Health Corp. | ||||||
| Danaher Corp. | ||||||
| Edwards Lifesciences Corp. | ||||||
| HCA Healthcare Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| Stryker Corp. | ||||||
| UnitedHealth Group Inc. | ||||||
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Health Care Equipment & Services | ||||||
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Health Care | ||||||
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Bristol-Myers Squibb Co. debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020. |
Debt to Assets
Bristol-Myers Squibb Co., debt to assets calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | ||||||
| Long-term debt, excluding current portion | ||||||
| Total debt | ||||||
| Total assets | ||||||
| Solvency Ratio | ||||||
| Debt to assets1 | ||||||
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Abbott Laboratories | ||||||
| Anthem Inc. | ||||||
| Becton, Dickinson & Co. | ||||||
| CVS Health Corp. | ||||||
| Danaher Corp. | ||||||
| Edwards Lifesciences Corp. | ||||||
| HCA Healthcare Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| Stryker Corp. | ||||||
| UnitedHealth Group Inc. | ||||||
| Debt to Assets, Sector | ||||||
| Health Care Equipment & Services | ||||||
| Debt to Assets, Industry | ||||||
| Health Care | ||||||
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 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. | Bristol-Myers Squibb Co. debt to assets ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Debt to Assets (including Operating Lease Liability)
Bristol-Myers Squibb Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | ||||||
| Long-term debt, excluding current portion | ||||||
| Total debt | ||||||
| Current operating lease liabilities | ||||||
| Non-current operating lease liabilities | ||||||
| Total debt (including operating lease liability) | ||||||
| Total assets | ||||||
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | ||||||
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Abbott Laboratories | ||||||
| Anthem Inc. | ||||||
| Becton, Dickinson & Co. | ||||||
| CVS Health Corp. | ||||||
| Danaher Corp. | ||||||
| Edwards Lifesciences Corp. | ||||||
| HCA Healthcare Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| Stryker Corp. | ||||||
| UnitedHealth Group Inc. | ||||||
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Health Care Equipment & Services | ||||||
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Health Care | ||||||
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Bristol-Myers Squibb Co. debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020. |
Financial Leverage
Bristol-Myers Squibb Co., financial leverage calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Total assets | ||||||
| Total Bristol-Myers Squibb Company shareholders’ equity | ||||||
| Solvency Ratio | ||||||
| Financial leverage1 | ||||||
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Abbott Laboratories | ||||||
| Anthem Inc. | ||||||
| Becton, Dickinson & Co. | ||||||
| CVS Health Corp. | ||||||
| Danaher Corp. | ||||||
| Edwards Lifesciences Corp. | ||||||
| HCA Healthcare Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| Stryker Corp. | ||||||
| UnitedHealth Group Inc. | ||||||
| Financial Leverage, Sector | ||||||
| Health Care Equipment & Services | ||||||
| Financial Leverage, Industry | ||||||
| Health Care | ||||||
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Financial leverage = Total assets ÷ Total Bristol-Myers Squibb Company 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. | Bristol-Myers Squibb Co. financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020. |
Interest Coverage
Bristol-Myers Squibb Co., interest coverage calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net earnings (loss) attributable to BMS | ||||||
| Add: Net income attributable to noncontrolling interest | ||||||
| Add: Income tax expense | ||||||
| Add: Interest expense | ||||||
| Earnings before interest and tax (EBIT) | ||||||
| Solvency Ratio | ||||||
| Interest coverage1 | ||||||
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Abbott Laboratories | ||||||
| Anthem Inc. | ||||||
| Becton, Dickinson & Co. | ||||||
| CVS Health Corp. | ||||||
| Danaher Corp. | ||||||
| Edwards Lifesciences Corp. | ||||||
| HCA Healthcare Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| Stryker Corp. | ||||||
| UnitedHealth Group Inc. | ||||||
| Interest Coverage, Sector | ||||||
| Health Care Equipment & Services | ||||||
| Interest Coverage, Industry | ||||||
| Health Care | ||||||
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 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. | Bristol-Myers Squibb Co. interest coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Fixed Charge Coverage
Bristol-Myers Squibb Co., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net earnings (loss) attributable to BMS | ||||||
| Add: Net income attributable to noncontrolling interest | ||||||
| Add: Income tax expense | ||||||
| Add: Interest expense | ||||||
| Earnings before interest and tax (EBIT) | ||||||
| Add: Operating lease expense | ||||||
| Earnings before fixed charges and tax | ||||||
| Interest expense | ||||||
| Operating lease expense | ||||||
| Fixed charges | ||||||
| Solvency Ratio | ||||||
| Fixed charge coverage1 | ||||||
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Abbott Laboratories | ||||||
| Anthem Inc. | ||||||
| Becton, Dickinson & Co. | ||||||
| CVS Health Corp. | ||||||
| Danaher Corp. | ||||||
| Edwards Lifesciences Corp. | ||||||
| HCA Healthcare Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| Stryker Corp. | ||||||
| UnitedHealth Group Inc. | ||||||
| Fixed Charge Coverage, Sector | ||||||
| Health Care Equipment & Services | ||||||
| Fixed Charge Coverage, Industry | ||||||
| Health Care | ||||||
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =
2 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. | Bristol-Myers Squibb Co. fixed charge coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |