Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Danaher Corp. (NYSE:DHR)

Analysis of Solvency Ratios
Quarterly Data

Beginner level

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

Solvency Ratios (Summary)

Danaher Corp., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Apr 3, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Debt Ratios
Debt to equity 0.84 0.72 0.54 0.32 0.30 0.35 0.38 0.42 0.39 0.40 0.43 0.47 0.50 0.53 0.36 0.59 0.51 0.54 0.65 0.13 0.14
Debt to capital 0.46 0.42 0.35 0.24 0.23 0.26 0.28 0.29 0.28 0.29 0.30 0.32 0.33 0.35 0.26 0.37 0.34 0.35 0.39 0.12 0.12
Debt to assets 0.38 0.35 0.29 0.19 0.18 0.20 0.22 0.24 0.22 0.23 0.24 0.25 0.26 0.27 0.20 0.28 0.26 0.27 0.30 0.09 0.09
Financial leverage 2.22 2.05 1.89 1.66 1.64 1.70 1.72 1.77 1.73 1.77 1.81 1.86 1.90 1.97 1.78 2.06 1.97 2.04 2.15 1.53 1.55
Coverage Ratios
Interest coverage 25.33 31.44 34.62 29.92 24.77 21.92 21.12 20.86 19.99 19.06 18.34 16.31 15.04 15.16 14.42 15.68 19.13 21.42 — — —

Based on: 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-19), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-10-19), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-25), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Danaher Corp.’s debt to equity ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Danaher Corp.’s debt to capital ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Danaher Corp.’s debt to assets ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Danaher Corp.’s financial leverage ratio increased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Danaher Corp.’s interest coverage ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Debt to Equity

Danaher Corp., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Apr 3, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Notes payable and current portion of long-term debt 3,234,300  212,400  1,068,600  153,700  36,600  51,800  59,800  175,100  98,700  194,700  182,200  169,500  2,221,000  2,594,800  809,100  2,644,500  197,000  845,200  3,489,300  110,100  123,700 
Long-term debt, excluding current portion 22,737,200  21,516,700  16,536,200  10,144,400  9,458,200  9,688,500  10,558,000  11,145,600  10,410,700  10,327,400  10,726,800  11,422,500  9,729,300  9,674,200  7,503,100  12,007,700  12,194,700  12,025,200  11,522,700  3,052,700  3,053,800 
Total debt 25,971,500  21,729,100  17,604,800  10,298,100  9,494,800  9,740,300  10,617,800  11,320,700  10,509,400  10,522,100  10,909,000  11,592,000  11,950,300  12,269,000  8,312,200  14,652,200  12,391,700  12,870,400  15,012,000  3,162,800  3,177,500 
 
Total Danaher stockholders’ equity 31,055,100  30,270,600  32,502,300  32,201,200  31,556,600  28,214,400  27,673,400  27,212,300  27,189,900  26,358,200  25,375,400  24,590,000  23,785,800  23,002,800  23,191,600  25,045,100  24,504,700  23,690,300  23,112,700  24,101,200  23,321,000 
Solvency Ratio
Debt to equity1 0.84 0.72 0.54 0.32 0.30 0.35 0.38 0.42 0.39 0.40 0.43 0.47 0.50 0.53 0.36 0.59 0.51 0.54 0.65 0.13 0.14
Benchmarks
Debt to Equity, Competitors2
Becton, Dickinson & Co. 0.92 0.92 0.94 0.97 0.98 1.02 1.04 1.08 1.07 1.46 1.51 1.29 1.45 1.51 1.48 1.63 1.77 1.79 1.82 1.93 2.00
Boston Scientific Corp. 0.75 0.72 1.12 1.01 1.00 0.81 0.80 0.84 0.82 0.80 0.75 0.81 0.78 0.81 0.84 0.87 0.88 0.90 0.91 0.78 0.66
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 0.00 0.00 0.00 0.00
Medtronic PLC 0.52 0.51 0.50 0.50 0.50 0.51 0.57 0.56 0.67 0.66 0.65 0.65 0.63 0.60 0.71 0.69 0.67 0.68 1.43 0.70 0.67
Stryker Corp. 0.80 0.87 0.68 0.71 0.72 0.84 0.73 0.76 0.86 0.72 0.69 0.73 0.74 0.72 0.73 0.84 0.85 0.47 0.41 0.41 0.42
Thermo Fisher Scientific Inc. 0.70 0.60 0.58 0.66 0.66 0.69 0.70 0.73 0.80 0.83 0.89 0.75 0.78 0.77 0.87 0.67 0.72 0.59 0.64 0.68 0.75
UnitedHealth Group Inc. 0.91 0.71 0.82 0.80 0.74 0.71 0.67 0.73 0.75 0.66 0.65 0.74 0.81 0.86 0.88 0.91 0.96 0.95 0.96 0.55 0.58

Based on: 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-19), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-10-19), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-25), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q1 2020 Calculation
Debt to equity = Total debt ÷ Total Danaher stockholders’ equity
= 25,971,500 ÷ 31,055,100 = 0.84

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. Danaher Corp.’s debt to equity ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Debt to Capital

Danaher Corp., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Apr 3, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Notes payable and current portion of long-term debt 3,234,300  212,400  1,068,600  153,700  36,600  51,800  59,800  175,100  98,700  194,700  182,200  169,500  2,221,000  2,594,800  809,100  2,644,500  197,000  845,200  3,489,300  110,100  123,700 
Long-term debt, excluding current portion 22,737,200  21,516,700  16,536,200  10,144,400  9,458,200  9,688,500  10,558,000  11,145,600  10,410,700  10,327,400  10,726,800  11,422,500  9,729,300  9,674,200  7,503,100  12,007,700  12,194,700  12,025,200  11,522,700  3,052,700  3,053,800 
Total debt 25,971,500  21,729,100  17,604,800  10,298,100  9,494,800  9,740,300  10,617,800  11,320,700  10,509,400  10,522,100  10,909,000  11,592,000  11,950,300  12,269,000  8,312,200  14,652,200  12,391,700  12,870,400  15,012,000  3,162,800  3,177,500 
Total Danaher stockholders’ equity 31,055,100  30,270,600  32,502,300  32,201,200  31,556,600  28,214,400  27,673,400  27,212,300  27,189,900  26,358,200  25,375,400  24,590,000  23,785,800  23,002,800  23,191,600  25,045,100  24,504,700  23,690,300  23,112,700  24,101,200  23,321,000 
Total capital 57,026,600  51,999,700  50,107,100  42,499,300  41,051,400  37,954,700  38,291,200  38,533,000  37,699,300  36,880,300  36,284,400  36,182,000  35,736,100  35,271,800  31,503,800  39,697,300  36,896,400  36,560,700  38,124,700  27,264,000  26,498,500 
Solvency Ratio
Debt to capital1 0.46 0.42 0.35 0.24 0.23 0.26 0.28 0.29 0.28 0.29 0.30 0.32 0.33 0.35 0.26 0.37 0.34 0.35 0.39 0.12 0.12
Benchmarks
Debt to Capital, Competitors2
Becton, Dickinson & Co. 0.48 0.48 0.48 0.49 0.50 0.51 0.51 0.52 0.52 0.59 0.60 0.56 0.59 0.60 0.60 0.62 0.64 0.64 0.64 0.66 0.67
Boston Scientific Corp. 0.43 0.42 0.53 0.50 0.50 0.45 0.44 0.46 0.45 0.44 0.43 0.45 0.44 0.45 0.46 0.47 0.47 0.47 0.48 0.44 0.40
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 0.00 0.00 0.00 0.00
Medtronic PLC 0.34 0.34 0.33 0.34 0.33 0.34 0.36 0.36 0.40 0.40 0.39 0.39 0.39 0.38 0.41 0.41 0.40 0.40 0.59 0.41 0.40
Stryker Corp. 0.44 0.46 0.41 0.42 0.42 0.46 0.42 0.43 0.46 0.42 0.41 0.42 0.43 0.42 0.42 0.46 0.46 0.32 0.29 0.29 0.30
Thermo Fisher Scientific Inc. 0.41 0.37 0.37 0.40 0.40 0.41 0.41 0.42 0.44 0.45 0.47 0.43 0.44 0.44 0.47 0.40 0.42 0.37 0.39 0.40 0.43
UnitedHealth Group Inc. 0.48 0.41 0.45 0.44 0.43 0.41 0.40 0.42 0.43 0.40 0.39 0.43 0.45 0.46 0.47 0.48 0.49 0.49 0.49 0.35 0.37

Based on: 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-19), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-10-19), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-25), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 25,971,500 ÷ 57,026,600 = 0.46

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. Danaher Corp.’s debt to capital ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Debt to Assets

Danaher Corp., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Apr 3, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Notes payable and current portion of long-term debt 3,234,300  212,400  1,068,600  153,700  36,600  51,800  59,800  175,100  98,700  194,700  182,200  169,500  2,221,000  2,594,800  809,100  2,644,500  197,000  845,200  3,489,300  110,100  123,700 
Long-term debt, excluding current portion 22,737,200  21,516,700  16,536,200  10,144,400  9,458,200  9,688,500  10,558,000  11,145,600  10,410,700  10,327,400  10,726,800  11,422,500  9,729,300  9,674,200  7,503,100  12,007,700  12,194,700  12,025,200  11,522,700  3,052,700  3,053,800 
Total debt 25,971,500  21,729,100  17,604,800  10,298,100  9,494,800  9,740,300  10,617,800  11,320,700  10,509,400  10,522,100  10,909,000  11,592,000  11,950,300  12,269,000  8,312,200  14,652,200  12,391,700  12,870,400  15,012,000  3,162,800  3,177,500 
 
Total assets 68,930,300  62,081,600  61,531,100  53,322,000  51,774,400  47,832,500  47,719,500  48,055,800  47,145,200  46,648,600  45,851,300  45,646,800  45,245,100  45,295,300  41,297,500  51,503,700  48,385,600  48,222,200  49,707,900  36,986,800  36,072,300 
Solvency Ratio
Debt to assets1 0.38 0.35 0.29 0.19 0.18 0.20 0.22 0.24 0.22 0.23 0.24 0.25 0.26 0.27 0.20 0.28 0.26 0.27 0.30 0.09 0.09
Benchmarks
Debt to Assets, Competitors2
Becton, Dickinson & Co. 0.37 0.37 0.39 0.39 0.40 0.40 0.41 0.42 0.41 0.50 0.51 0.43 0.45 0.45 0.46 0.48 0.49 0.48 0.49 0.49 0.55
Boston Scientific Corp. 0.34 0.33 0.41 0.39 0.39 0.34 0.33 0.33 0.30 0.29 0.30 0.32 0.31 0.30 0.31 0.30 0.32 0.31 0.32 0.30 0.26
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 0.00 0.00 0.00 0.00
Medtronic PLC 0.29 0.28 0.28 0.28 0.28 0.28 0.30 0.31 0.34 0.34 0.33 0.33 0.33 0.31 0.35 0.34 0.34 0.34 0.52 0.35 0.34
Stryker Corp. 0.36 0.37 0.32 0.32 0.33 0.36 0.33 0.33 0.36 0.33 0.34 0.35 0.35 0.34 0.34 0.37 0.38 0.25 0.22 0.21 0.21
Thermo Fisher Scientific Inc. 0.34 0.30 0.30 0.33 0.33 0.34 0.34 0.35 0.37 0.37 0.39 0.36 0.37 0.36 0.39 0.33 0.35 0.31 0.32 0.34 0.35
UnitedHealth Group Inc. 0.27 0.23 0.26 0.25 0.24 0.24 0.22 0.23 0.23 0.23 0.21 0.23 0.25 0.27 0.27 0.28 0.29 0.29 0.29 0.20 0.20

Based on: 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-19), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-10-19), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-25), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 25,971,500 ÷ 68,930,300 = 0.38

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. Danaher Corp.’s debt to assets ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Financial Leverage

Danaher Corp., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Apr 3, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Total assets 68,930,300  62,081,600  61,531,100  53,322,000  51,774,400  47,832,500  47,719,500  48,055,800  47,145,200  46,648,600  45,851,300  45,646,800  45,245,100  45,295,300  41,297,500  51,503,700  48,385,600  48,222,200  49,707,900  36,986,800  36,072,300 
Total Danaher stockholders’ equity 31,055,100  30,270,600  32,502,300  32,201,200  31,556,600  28,214,400  27,673,400  27,212,300  27,189,900  26,358,200  25,375,400  24,590,000  23,785,800  23,002,800  23,191,600  25,045,100  24,504,700  23,690,300  23,112,700  24,101,200  23,321,000 
Solvency Ratio
Financial leverage1 2.22 2.05 1.89 1.66 1.64 1.70 1.72 1.77 1.73 1.77 1.81 1.86 1.90 1.97 1.78 2.06 1.97 2.04 2.15 1.53 1.55
Benchmarks
Financial Leverage, Competitors2
Becton, Dickinson & Co. 2.45 2.46 2.43 2.47 2.47 2.57 2.53 2.58 2.61 2.91 2.95 3.03 3.21 3.35 3.24 3.42 3.61 3.74 3.73 3.95 3.65
Boston Scientific Corp. 2.18 2.20 2.76 2.58 2.58 2.41 2.46 2.53 2.73 2.72 2.46 2.54 2.54 2.69 2.73 2.87 2.74 2.87 2.84 2.60 2.53
Intuitive Surgical Inc. 1.16 1.18 1.18 1.17 1.17 1.17 1.17 1.17 1.17 1.22 1.14 1.16 1.16 1.12 1.11 1.12 1.12 1.14 1.14 1.15 1.15
Medtronic PLC 1.81 1.79 1.78 1.78 1.79 1.80 1.91 1.84 1.98 1.98 1.98 1.96 1.94 1.92 2.02 2.01 1.98 2.00 2.74 2.00 1.95
Stryker Corp. 2.24 2.36 2.16 2.21 2.22 2.32 2.24 2.28 2.40 2.23 2.06 2.12 2.11 2.14 2.16 2.26 2.23 1.91 1.88 1.98 1.99
Thermo Fisher Scientific Inc. 2.05 1.97 1.93 2.02 2.01 2.04 2.05 2.10 2.17 2.23 2.27 2.08 2.12 2.13 2.22 1.99 2.05 1.92 1.97 2.02 2.10
UnitedHealth Group Inc. 3.32 3.02 3.16 3.15 3.12 2.94 3.02 3.20 3.27 2.91 3.10 3.20 3.27 3.21 3.28 3.29 3.35 3.29 3.27 2.77 2.81

Based on: 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-19), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-10-19), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-25), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q1 2020 Calculation
Financial leverage = Total assets ÷ Total Danaher stockholders’ equity
= 68,930,300 ÷ 31,055,100 = 2.22

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. Danaher Corp.’s financial leverage ratio increased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Interest Coverage

Danaher Corp., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Apr 3, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Net earnings attributable to Danaher stockholders 595,100  1,275,100  668,000  731,300  333,800  746,800  663,700  673,800  566,600  856,600  572,100  557,300  506,100  747,000  391,600  656,700  758,400  688,600  1,403,300  695,700  569,800 
Add: Net income attributable to noncontrolling interest —  (5,900) 5,900  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Less: Earnings (loss) from discontinued operations, net of income taxes —  574,400  —  —  1,500  —  —  —  —  —  —  —  22,300  —  (11,000) 238,700  172,600  (46,600) 813,300  (19,800) 11,800 
Add: Income tax expense 116,000  151,800  169,100  164,400  387,700  196,500  137,600  161,300  146,500  122,400  157,700  87,500  101,400  (50,600) 74,100  236,600  197,800  184,500  178,500  192,200  170,100 
Add: Interest expense 47,400  41,200  26,300  20,600  20,500  33,800  41,300  43,200  39,100  41,800  39,900  40,700  40,300  32,300  43,700  55,500  52,900  59,200  45,300  29,000  29,300 
Earnings before interest and tax (EBIT) 758,500  887,800  869,300  916,300  740,500  977,100  842,600  878,300  752,200  1,020,800  769,700  685,500  625,500  728,700  520,400  710,100  836,500  978,900  813,800  936,700  757,400 
Solvency Ratio
Interest coverage1 25.33 31.44 34.62 29.92 24.77 21.92 21.12 20.86 19.99 19.06 18.34 16.31 15.04 15.16 14.42 15.68 19.13 21.42 — — —
Benchmarks
Interest Coverage, Competitors2
Becton, Dickinson & Co. 2.42 2.84 3.34 3.52 3.48 2.66 2.59 1.05 1.67 2.87 2.43 4.98 4.89 3.77 4.20 3.18 2.84 2.99 4.02 6.57 9.18
Boston Scientific Corp. 1.56 2.45 3.76 5.22 6.38 6.90 6.81 6.20 5.08 5.07 4.47 4.23 2.10 1.76 -0.06 -2.70 -0.31 -1.29 — — —
Medtronic PLC 3.76 4.60 6.40 5.94 6.14 5.95 5.81 5.77 5.34 5.21 4.35 4.49 4.24 4.13 3.81 4.08 4.82 6.23 — — —
Thermo Fisher Scientific Inc. 33.39 — — — — — — — — — — — — — — — — — — — —
UnitedHealth Group Inc. 11.40 11.55 11.63 12.08 12.32 12.39 12.61 12.80 12.86 12.82 12.58 12.41 12.27 12.12 11.53 11.43 12.62 13.95 — — —

Based on: 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-19), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-10-19), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-25), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q1 2020 Calculation
Interest coverage = (EBITQ1 2020 + EBITQ4 2019 + EBITQ3 2019 + EBITQ2 2019) ÷ (Interest expenseQ1 2020 + Interest expenseQ4 2019 + Interest expenseQ3 2019 + Interest expenseQ2 2019)
= (758,500 + 887,800 + 869,300 + 916,300) ÷ (47,400 + 41,200 + 26,300 + 20,600) = 25.33

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. Danaher Corp.’s interest coverage ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.