Debt to Equity
since 2005
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EMC Corp. pages available for free this week:
- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
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Calculation
EMC Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total EMC Corporation’s shareholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2015 | = | ÷ | |||
| Dec 31, 2014 | = | ÷ | |||
| Dec 31, 2013 | = | ÷ | |||
| Dec 31, 2012 | = | ÷ | |||
| Dec 31, 2011 | = | ÷ | |||
| Dec 31, 2010 | = | ÷ | |||
| Dec 31, 2009 | = | ÷ | |||
| Dec 31, 2008 | = | ÷ | |||
| Dec 31, 2007 | = | ÷ | |||
| Dec 31, 2006 | = | ÷ | |||
| Dec 31, 2005 | = | ÷ |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The analysis of the financial data over the period from 2005 to 2015 reveals notable fluctuations in the company's debt levels, equity base, and leverage ratio.
- Total Debt
- Total debt showed a significant increase from US$130 million in 2005 to a peak of US$3,305 million in 2011. Following this, there was a sharp decrease to US$1,652 million in 2012. However, after 2012, total debt resumed an upward trend, reaching US$7,159 million in 2013, then declined to US$5,495 million in 2014, before rising again to US$6,774 million in 2015. This pattern indicates periods of both debt accumulation and deleveraging, suggesting strategic adjustments to debt financing.
- Total Shareholders' Equity
- Shareholders' equity demonstrated a generally upward trajectory over the period, starting at US$12,065 million in 2005 and increasing to a high of US$22,357 million in 2012. From 2012 onwards, the equity levels stabilized, maintaining values slightly above US$21 billion through 2015. This consistent growth followed by stabilization reflects an overall strengthening of the equity base, which supports financial stability.
- Debt to Equity Ratio
- The debt-to-equity ratio rose sharply from a very low 0.01 in 2005 to a peak of 0.27 in 2006, aligning with the initial surge in total debt and a relative decline in equity. From 2007 to 2011, this ratio showed a gradual decline from 0.23 to 0.17, indicating a reduction in leverage relative to equity. In 2012, a sharp drop to 0.07 corresponds with the substantial reduction in total debt during that period. The ratio then increased again to 0.32 in 2013, reflecting the sharp increase in debt, followed by slight fluctuations to 0.25 in 2014 and back up to 0.32 in 2015. These movements highlight periods of varying leverage strategy, with the company notably increasing leverage post-2012.
In summary, the company’s financial strategy over the analyzed period illustrates dynamic management of capital structure, with phases of aggressive debt accumulation followed by debt reduction and equity growth. The interplay between debt and equity levels suggests adaptation to changing market conditions or internal financing needs, with leverage ratios reflecting these strategic shifts clearly.
Comparison to Competitors
EMC Corp., debt to equity, long-term trends, comparison to competitors
| EMC Corp. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
EMC Corp., debt to equity, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| EMC Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
EMC Corp., debt to equity, long-term trends, comparison to industry (information technology)
| EMC Corp. | Information Technology | |
|---|---|---|
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).