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Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.
Solvency Ratios (Summary)
Caterpillar Inc., solvency ratios (quarterly data)
Based on: 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-11-02), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).
Solvency ratio | Description | The company |
---|---|---|
Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Caterpillar Inc.’s debt to equity ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level. |
Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Caterpillar Inc.’s debt to capital ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level. |
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Caterpillar Inc.’s debt to assets ratio deteriorated from Q1 2020 to Q2 2020 but then slightly improved from Q2 2020 to Q3 2020. |
Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Caterpillar Inc.’s financial leverage ratio increased from Q1 2020 to Q2 2020 but then decreased significantly from Q2 2020 to Q3 2020. |
Solvency ratio | Description | The company |
---|---|---|
Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Caterpillar Inc.’s interest coverage ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |
Debt to Equity
Caterpillar Inc., debt to equity calculation (quarterly data)
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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | ||||||||
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Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
Short-term borrowings | ||||||||||||||||||||||||||||||
Long-term debt due within one year | ||||||||||||||||||||||||||||||
Long-term debt due after one year | ||||||||||||||||||||||||||||||
Total debt | ||||||||||||||||||||||||||||||
Shareholders’ equity attributable to common shareholders | ||||||||||||||||||||||||||||||
Solvency Ratio | ||||||||||||||||||||||||||||||
Debt to equity1 | ||||||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||||||
Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||||
Illinois Tool Works Inc. |
Based on: 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-11-02), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).
1 Q3 2020 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity attributable to common shareholders
= ÷ =
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. | Caterpillar Inc.’s debt to equity ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level. |
Debt to Capital
Caterpillar Inc., debt to capital calculation (quarterly data)
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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
Short-term borrowings | ||||||||||||||||||||||||||||||
Long-term debt due within one year | ||||||||||||||||||||||||||||||
Long-term debt due after one year | ||||||||||||||||||||||||||||||
Total debt | ||||||||||||||||||||||||||||||
Shareholders’ equity attributable to common shareholders | ||||||||||||||||||||||||||||||
Total capital | ||||||||||||||||||||||||||||||
Solvency Ratio | ||||||||||||||||||||||||||||||
Debt to capital1 | ||||||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||||||
Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||||
Illinois Tool Works Inc. |
Based on: 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-11-02), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).
1 Q3 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. | Caterpillar Inc.’s debt to capital ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level. |
Debt to Assets
Caterpillar Inc., debt to assets calculation (quarterly data)
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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
Short-term borrowings | ||||||||||||||||||||||||||||||
Long-term debt due within one year | ||||||||||||||||||||||||||||||
Long-term debt due after one year | ||||||||||||||||||||||||||||||
Total debt | ||||||||||||||||||||||||||||||
Total assets | ||||||||||||||||||||||||||||||
Solvency Ratio | ||||||||||||||||||||||||||||||
Debt to assets1 | ||||||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||||||
Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||||
Illinois Tool Works Inc. |
Based on: 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-11-02), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).
1 Q3 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. | Caterpillar Inc.’s debt to assets ratio deteriorated from Q1 2020 to Q2 2020 but then slightly improved from Q2 2020 to Q3 2020. |
Financial Leverage
Caterpillar Inc., financial leverage calculation (quarterly data)
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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
Total assets | ||||||||||||||||||||||||||||||
Shareholders’ equity attributable to common shareholders | ||||||||||||||||||||||||||||||
Solvency Ratio | ||||||||||||||||||||||||||||||
Financial leverage1 | ||||||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||||||
Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||||
Illinois Tool Works Inc. |
Based on: 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-11-02), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).
1 Q3 2020 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity attributable to common shareholders
= ÷ =
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. | Caterpillar Inc.’s financial leverage ratio increased from Q1 2020 to Q2 2020 but then decreased significantly from Q2 2020 to Q3 2020. |
Interest Coverage
Caterpillar Inc., interest coverage calculation (quarterly data)
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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
Profit (loss) attributable to common stockholders | ||||||||||||||||||||||||||||||
Add: Net income attributable to noncontrolling interest | ||||||||||||||||||||||||||||||
Add: Income tax expense | ||||||||||||||||||||||||||||||
Add: Interest expense excluding Financial Products | ||||||||||||||||||||||||||||||
Earnings before interest and tax (EBIT) | ||||||||||||||||||||||||||||||
Solvency Ratio | ||||||||||||||||||||||||||||||
Interest coverage1 | ||||||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||||||
Interest Coverage, Competitors2 | ||||||||||||||||||||||||||||||
Illinois Tool Works Inc. |
Based on: 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-11-02), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).
1 Q3 2020 Calculation
Interest coverage
= (EBITQ3 2020
+ EBITQ2 2020
+ EBITQ1 2020
+ EBITQ4 2019)
÷ (Interest expenseQ3 2020
+ Interest expenseQ2 2020
+ Interest expenseQ1 2020
+ Interest expenseQ4 2019)
= ( + + + )
÷ ( + + + )
=
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. | Caterpillar Inc.’s interest coverage ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |