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Microsoft Excel LibreOffice Calc

CVS Health Corp. (CVS)

Long-term Debt and Solvency Analysis

Difficulty: Beginner

Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.

Ratios (Summary)

CVS Health Corp., debt and solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Debt to equity hidden hidden hidden hidden hidden
Debt to capital hidden hidden hidden hidden hidden
Interest coverage hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-09), 10-K (filing date: 2015-02-10).

Ratio Description The company
Debt-to-equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. CVS Health Corp.’s debt-to-equity ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.
Debt-to-capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. CVS Health Corp.’s debt-to-capital ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.
Ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. CVS Health Corp.’s interest coverage ratio deteriorated from 2016 to 2017 and from 2017 to 2018.

Debt to Equity

CVS Health Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (USD $ in millions)
Short-term debt hidden hidden hidden hidden hidden
Current portion of long-term debt hidden hidden hidden hidden hidden
Long-term debt, excluding current portion hidden hidden hidden hidden hidden
Total debt hidden hidden hidden hidden hidden
Total CVS Health shareholders’ equity hidden hidden hidden hidden hidden
Ratio
Debt to equity1 hidden hidden hidden hidden hidden
Benchmarks
Debt to Equity, Competitors
Walgreens Boots Alliance Inc. hidden hidden hidden hidden hidden
Debt to Equity, Sector
Food & Drug Retailers hidden hidden hidden hidden hidden
Debt to Equity, Industry
Consumer Services hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-09), 10-K (filing date: 2015-02-10).

2018 Calculations

1 Debt to equity = Total debt ÷ Total CVS Health shareholders’ equity
= hidden ÷ hidden = hidden

Ratio Description The company
Debt-to-equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. CVS Health Corp.’s debt-to-equity ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.

Debt to Capital

CVS Health Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (USD $ in millions)
Short-term debt hidden hidden hidden hidden hidden
Current portion of long-term debt hidden hidden hidden hidden hidden
Long-term debt, excluding current portion hidden hidden hidden hidden hidden
Total debt hidden hidden hidden hidden hidden
Total CVS Health shareholders’ equity hidden hidden hidden hidden hidden
Total capital hidden hidden hidden hidden hidden
Ratio
Debt to capital1 hidden hidden hidden hidden hidden
Benchmarks
Debt to Capital, Competitors
Walgreens Boots Alliance Inc. hidden hidden hidden hidden hidden
Debt to Capital, Sector
Food & Drug Retailers hidden hidden hidden hidden hidden
Debt to Capital, Industry
Consumer Services hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-09), 10-K (filing date: 2015-02-10).

2018 Calculations

1 Debt to capital = Total debt ÷ Total capital
= hidden ÷ hidden = hidden

Ratio Description The company
Debt-to-capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. CVS Health Corp.’s debt-to-capital ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.

Interest Coverage

CVS Health Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (USD $ in millions)
Net income (loss) attributable to CVS Health hidden hidden hidden hidden hidden
Add: Net income attributable to noncontrolling interest hidden hidden hidden hidden hidden
Less: Income (loss) from discontinued operations, net of tax hidden hidden hidden hidden hidden
Add: Income tax expense hidden hidden hidden hidden hidden
Add: Interest expense hidden hidden hidden hidden hidden
Earnings before interest and tax (EBIT) hidden hidden hidden hidden hidden
Ratio
Interest coverage1 hidden hidden hidden hidden hidden
Benchmarks
Interest Coverage, Competitors
Walgreens Boots Alliance Inc. hidden hidden hidden hidden hidden
Interest Coverage, Sector
Food & Drug Retailers hidden hidden hidden hidden hidden
Interest Coverage, Industry
Consumer Services hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-09), 10-K (filing date: 2015-02-10).

2018 Calculations

1 Interest coverage = EBIT ÷ Interest expense
= hidden ÷ hidden = hidden

Ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. CVS Health Corp.’s interest coverage ratio deteriorated from 2016 to 2017 and from 2017 to 2018.