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

Eli Lilly & Co. (NYSE:LLY)

Analysis of Solvency Ratios

Beginner level

Solvency Ratios (Summary)

Eli Lilly & Co., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Debt Ratios
Debt to equity 5.88 1.30 1.18 0.74 0.55
Debt to equity (including operating lease liability) 6.11 1.30 1.18 0.74 0.55
Debt to capital 0.85 0.57 0.54 0.42 0.35
Debt to capital (including operating lease liability) 0.86 0.57 0.54 0.42 0.35
Debt to assets 0.39 0.29 0.30 0.27 0.22
Debt to assets (including operating lease liability) 0.41 0.29 0.30 0.27 0.22
Financial leverage 15.07 4.47 3.88 2.77 2.44
Coverage Ratios
Interest coverage 14.15 14.95 10.77 19.22 18.31
Fixed charge coverage 10.18 8.66 5.89 9.31 8.21

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Eli Lilly & Co.’s debt to equity ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Eli Lilly & Co.’s debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Eli Lilly & Co.’s debt to capital ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
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. Eli Lilly & Co.’s debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Eli Lilly & Co.’s debt to assets ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Eli Lilly & Co.’s debt to assets ratio (including operating lease liability) improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Eli Lilly & Co.’s financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Eli Lilly & Co.’s interest coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Eli Lilly & Co.’s fixed charge coverage ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Equity

Eli Lilly & Co., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Short-term borrowings and current maturities of long-term debt 1,499,300  1,131,200  3,706,600  1,937,400  6,100 
Long-term debt, excluding current maturities 13,817,900  11,639,700  9,940,500  8,367,800  7,972,400 
Total debt 15,317,200  12,770,900  13,647,100  10,305,200  7,978,500 
 
Total Eli Lilly and Company shareholders’ equity 2,606,900  9,828,700  11,592,200  14,007,700  14,571,300 
Solvency Ratio
Debt to equity1 5.88 1.30 1.18 0.74 0.55
Benchmarks
Debt to Equity, Competitors2
Abbott Laboratories 0.58 0.64 0.90 1.07 0.42
AbbVie Inc. 7.33 7.95 8.03
Amgen Inc. 3.09 2.71 1.40 1.16 1.12
Biogen Inc. 0.45 0.46 0.47 0.54 0.70
Bristol-Myers Squibb Co. 0.91 0.52 0.68 0.41 0.47
Gilead Sciences Inc. 1.09 1.28 1.64 1.39 1.20
Illumina Inc. 0.25 0.53 0.49 0.58 0.60
Johnson & Johnson 0.47 0.51 0.57 0.39 0.28
Merck & Co. Inc. 1.02 0.94 0.71 0.62 0.59
Pfizer Inc. 0.83 0.66 0.61 0.71 0.60
Regeneron Pharmaceuticals Inc. 0.06 0.08 0.11 0.11 0.10
Vertex Pharmaceuticals Inc. 0.09 0.13 0.29 0.71 0.86
Zoetis Inc. 2.38 2.95 2.80 3.00 4.56
Debt to Equity, Sector
Pharmaceuticals & Biotechnology 1.09 0.97 0.92 0.83 0.70
Debt to Equity, Industry
Health Care 0.90 0.82 0.83 0.78 0.71

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

1 2019 Calculation
Debt to equity = Total debt ÷ Total Eli Lilly and Company shareholders’ equity
= 15,317,200 ÷ 2,606,900 = 5.88

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. Eli Lilly & Co.’s debt to equity ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Equity (including Operating Lease Liability)

Eli Lilly & Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Short-term borrowings and current maturities of long-term debt 1,499,300  1,131,200  3,706,600  1,937,400  6,100 
Long-term debt, excluding current maturities 13,817,900  11,639,700  9,940,500  8,367,800  7,972,400 
Total debt 15,317,200  12,770,900  13,647,100  10,305,200  7,978,500 
Current operating lease liabilities 121,700  —  —  —  — 
Noncurrent operating lease liabilities 486,700  —  —  —  — 
Total debt (including operating lease liability) 15,925,600  12,770,900  13,647,100  10,305,200  7,978,500 
 
Total Eli Lilly and Company shareholders’ equity 2,606,900  9,828,700  11,592,200  14,007,700  14,571,300 
Solvency Ratio
Debt to equity (including operating lease liability)1 6.11 1.30 1.18 0.74 0.55
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Abbott Laboratories 0.61 0.64 0.90 1.07 0.42
AbbVie Inc. 7.33 7.95 8.03
Amgen Inc. 3.15 2.71 1.40 1.16 1.12
Biogen Inc. 0.48 0.46 0.47 0.54 0.70
Bristol-Myers Squibb Co. 0.92 0.52 0.68 0.41 0.47
Gilead Sciences Inc. 1.12 1.28 1.64 1.39 1.20
Illumina Inc. 0.41 0.53 0.49 0.58 0.60
Johnson & Johnson 0.48 0.51 0.57 0.39 0.28
Merck & Co. Inc. 1.06 0.94 0.71 0.62 0.59
Pfizer Inc. 0.85 0.66 0.61 0.71 0.60
Regeneron Pharmaceuticals Inc. 0.07 0.08 0.11 0.11 0.10
Vertex Pharmaceuticals Inc. 0.11 0.13 0.29 0.71 0.86
Zoetis Inc. 2.45 2.95 2.80 3.00 4.56
Debt to Equity (including Operating Lease Liability), Sector
Pharmaceuticals & Biotechnology 1.12 0.97 0.92 0.83 0.70
Debt to Equity (including Operating Lease Liability), Industry
Health Care 0.92 0.82 0.83 0.78 0.71

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

1 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Eli Lilly and Company shareholders’ equity
= 15,925,600 ÷ 2,606,900 = 6.11

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. Eli Lilly & Co.’s debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Capital

Eli Lilly & Co., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Short-term borrowings and current maturities of long-term debt 1,499,300  1,131,200  3,706,600  1,937,400  6,100 
Long-term debt, excluding current maturities 13,817,900  11,639,700  9,940,500  8,367,800  7,972,400 
Total debt 15,317,200  12,770,900  13,647,100  10,305,200  7,978,500 
Total Eli Lilly and Company shareholders’ equity 2,606,900  9,828,700  11,592,200  14,007,700  14,571,300 
Total capital 17,924,100  22,599,600  25,239,300  24,312,900  22,549,800 
Solvency Ratio
Debt to capital1 0.85 0.57 0.54 0.42 0.35
Benchmarks
Debt to Capital, Competitors2
Abbott Laboratories 0.37 0.39 0.47 0.52 0.30
AbbVie Inc. 1.14 1.27 0.88 0.89 0.89
Amgen Inc. 0.76 0.73 0.58 0.54 0.53
Biogen Inc. 0.31 0.31 0.32 0.35 0.41
Bristol-Myers Squibb Co. 0.48 0.34 0.40 0.29 0.32
Gilead Sciences Inc. 0.52 0.56 0.62 0.58 0.54
Illumina Inc. 0.20 0.35 0.33 0.37 0.37
Johnson & Johnson 0.32 0.34 0.37 0.28 0.22
Merck & Co. Inc. 0.50 0.48 0.42 0.38 0.37
Pfizer Inc. 0.45 0.40 0.38 0.41 0.38
Regeneron Pharmaceuticals Inc. 0.06 0.07 0.10 0.10 0.09
Vertex Pharmaceuticals Inc. 0.09 0.12 0.22 0.42 0.46
Zoetis Inc. 0.70 0.75 0.74 0.75 0.82
Debt to Capital, Sector
Pharmaceuticals & Biotechnology 0.52 0.49 0.48 0.45 0.41
Debt to Capital, Industry
Health Care 0.47 0.45 0.45 0.44 0.41

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= 15,317,200 ÷ 17,924,100 = 0.85

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. Eli Lilly & Co.’s debt to capital ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Capital (including Operating Lease Liability)

Eli Lilly & Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Short-term borrowings and current maturities of long-term debt 1,499,300  1,131,200  3,706,600  1,937,400  6,100 
Long-term debt, excluding current maturities 13,817,900  11,639,700  9,940,500  8,367,800  7,972,400 
Total debt 15,317,200  12,770,900  13,647,100  10,305,200  7,978,500 
Current operating lease liabilities 121,700  —  —  —  — 
Noncurrent operating lease liabilities 486,700  —  —  —  — 
Total debt (including operating lease liability) 15,925,600  12,770,900  13,647,100  10,305,200  7,978,500 
Total Eli Lilly and Company shareholders’ equity 2,606,900  9,828,700  11,592,200  14,007,700  14,571,300 
Total capital (including operating lease liability) 18,532,500  22,599,600  25,239,300  24,312,900  22,549,800 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.86 0.57 0.54 0.42 0.35
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Abbott Laboratories 0.38 0.39 0.47 0.52 0.30
AbbVie Inc. 1.14 1.27 0.88 0.89 0.89
Amgen Inc. 0.76 0.73 0.58 0.54 0.53
Biogen Inc. 0.33 0.31 0.32 0.35 0.41
Bristol-Myers Squibb Co. 0.48 0.34 0.40 0.29 0.32
Gilead Sciences Inc. 0.53 0.56 0.62 0.58 0.54
Illumina Inc. 0.29 0.35 0.33 0.37 0.37
Johnson & Johnson 0.33 0.34 0.37 0.28 0.22
Merck & Co. Inc. 0.51 0.48 0.42 0.38 0.37
Pfizer Inc. 0.46 0.40 0.38 0.41 0.38
Regeneron Pharmaceuticals Inc. 0.06 0.07 0.10 0.10 0.09
Vertex Pharmaceuticals Inc. 0.10 0.12 0.22 0.42 0.46
Zoetis Inc. 0.71 0.75 0.74 0.75 0.82
Debt to Capital (including Operating Lease Liability), Sector
Pharmaceuticals & Biotechnology 0.53 0.49 0.48 0.45 0.41
Debt to Capital (including Operating Lease Liability), Industry
Health Care 0.48 0.45 0.45 0.44 0.41

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

1 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 15,925,600 ÷ 18,532,500 = 0.86

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. Eli Lilly & Co.’s debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Assets

Eli Lilly & Co., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Short-term borrowings and current maturities of long-term debt 1,499,300  1,131,200  3,706,600  1,937,400  6,100 
Long-term debt, excluding current maturities 13,817,900  11,639,700  9,940,500  8,367,800  7,972,400 
Total debt 15,317,200  12,770,900  13,647,100  10,305,200  7,978,500 
 
Total assets 39,286,100  43,908,400  44,981,000  38,805,900  35,568,900 
Solvency Ratio
Debt to assets1 0.39 0.29 0.30 0.27 0.22
Benchmarks
Debt to Assets, Competitors2
Abbott Laboratories 0.27 0.29 0.37 0.42 0.22
AbbVie Inc. 0.75 0.68 0.53 0.56 0.60
Amgen Inc. 0.50 0.51 0.44 0.45 0.44
Biogen Inc. 0.22 0.23 0.25 0.28 0.33
Bristol-Myers Squibb Co. 0.36 0.21 0.24 0.20 0.21
Gilead Sciences Inc. 0.40 0.43 0.48 0.46 0.43
Illumina Inc. 0.16 0.29 0.25 0.30 0.30
Johnson & Johnson 0.18 0.20 0.22 0.19 0.15
Merck & Co. Inc. 0.31 0.30 0.28 0.26 0.26
Pfizer Inc. 0.31 0.26 0.25 0.25 0.23
Regeneron Pharmaceuticals Inc. 0.05 0.06 0.08 0.07 0.07
Vertex Pharmaceuticals Inc. 0.07 0.09 0.16 0.28 0.32
Zoetis Inc. 0.56 0.60 0.58 0.58 0.62
Debt to Assets, Sector
Pharmaceuticals & Biotechnology 0.35 0.32 0.32 0.31 0.29
Debt to Assets, Industry
Health Care 0.33 0.31 0.31 0.31 0.29

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= 15,317,200 ÷ 39,286,100 = 0.39

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. Eli Lilly & Co.’s debt to assets ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Debt to Assets (including Operating Lease Liability)

Eli Lilly & Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Short-term borrowings and current maturities of long-term debt 1,499,300  1,131,200  3,706,600  1,937,400  6,100 
Long-term debt, excluding current maturities 13,817,900  11,639,700  9,940,500  8,367,800  7,972,400 
Total debt 15,317,200  12,770,900  13,647,100  10,305,200  7,978,500 
Current operating lease liabilities 121,700  —  —  —  — 
Noncurrent operating lease liabilities 486,700  —  —  —  — 
Total debt (including operating lease liability) 15,925,600  12,770,900  13,647,100  10,305,200  7,978,500 
 
Total assets 39,286,100  43,908,400  44,981,000  38,805,900  35,568,900 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.41 0.29 0.30 0.27 0.22
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Abbott Laboratories 0.28 0.29 0.37 0.42 0.22
AbbVie Inc. 0.75 0.68 0.53 0.56 0.60
Amgen Inc. 0.51 0.51 0.44 0.45 0.44
Biogen Inc. 0.24 0.23 0.25 0.28 0.33
Bristol-Myers Squibb Co. 0.37 0.21 0.24 0.20 0.21
Gilead Sciences Inc. 0.41 0.43 0.48 0.46 0.43
Illumina Inc. 0.26 0.29 0.25 0.30 0.30
Johnson & Johnson 0.18 0.20 0.22 0.19 0.15
Merck & Co. Inc. 0.32 0.30 0.28 0.26 0.26
Pfizer Inc. 0.32 0.26 0.25 0.25 0.23
Regeneron Pharmaceuticals Inc. 0.05 0.06 0.08 0.07 0.07
Vertex Pharmaceuticals Inc. 0.08 0.09 0.16 0.28 0.32
Zoetis Inc. 0.58 0.60 0.58 0.58 0.62
Debt to Assets (including Operating Lease Liability), Sector
Pharmaceuticals & Biotechnology 0.36 0.32 0.32 0.31 0.29
Debt to Assets (including Operating Lease Liability), Industry
Health Care 0.34 0.31 0.31 0.31 0.29

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

1 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 15,925,600 ÷ 39,286,100 = 0.41

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. Eli Lilly & Co.’s debt to assets ratio (including operating lease liability) improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Financial Leverage

Eli Lilly & Co., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Total assets 39,286,100  43,908,400  44,981,000  38,805,900  35,568,900 
Total Eli Lilly and Company shareholders’ equity 2,606,900  9,828,700  11,592,200  14,007,700  14,571,300 
Solvency Ratio
Financial leverage1 15.07 4.47 3.88 2.77 2.44
Benchmarks
Financial Leverage, Competitors2
Abbott Laboratories 2.18 2.20 2.47 2.56 1.94
AbbVie Inc. 13.89 14.26 13.45
Amgen Inc. 6.17 5.31 3.17 2.60 2.55
Biogen Inc. 2.04 1.94 1.88 1.88 2.08
Bristol-Myers Squibb Co. 2.52 2.49 2.86 2.08 2.23
Gilead Sciences Inc. 2.74 2.98 3.44 3.02 2.80
Illumina Inc. 1.59 1.85 1.91 1.95 1.99
Johnson & Johnson 2.65 2.56 2.61 2.01 1.88
Merck & Co. Inc. 3.26 3.09 2.56 2.38 2.28
Pfizer Inc. 2.65 2.51 2.41 2.88 2.59
Regeneron Pharmaceuticals Inc. 1.34 1.34 1.43 1.57 1.53
Vertex Pharmaceuticals Inc. 1.37 1.41 1.75 2.50 2.66
Zoetis Inc. 4.26 4.93 4.85 5.14 7.41
Financial Leverage, Sector
Pharmaceuticals & Biotechnology 3.13 3.02 2.85 2.63 2.44
Financial Leverage, Industry
Health Care 2.75 2.66 2.64 2.52 2.41

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

1 2019 Calculation
Financial leverage = Total assets ÷ Total Eli Lilly and Company shareholders’ equity
= 39,286,100 ÷ 2,606,900 = 15.07

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. Eli Lilly & Co.’s financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019.

Interest Coverage

Eli Lilly & Co., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Net income (loss) 8,318,400  3,232,000  (204,100) 2,737,600  2,408,400 
Less: Net income from discontinued operations 3,680,500  —  —  —  — 
Add: Income tax expense 628,000  563,700  2,401,500  636,400  381,600 
Add: Interest expense 400,600  272,100  225,000  185,200  161,200 
Earnings before interest and tax (EBIT) 5,666,500  4,067,800  2,422,400  3,559,200  2,951,200 
Solvency Ratio
Interest coverage1 14.15 14.95 10.77 19.22 18.31
Benchmarks
Interest Coverage, Competitors2
Abbott Laboratories 7.09 4.48 3.47 4.28 20.53
AbbVie Inc. 5.72 4.86 7.72 8.53 10.24
Amgen Inc. 8.09 7.86 8.36 8.27 8.29
Biogen Inc. 38.60 30.41 21.45 19.97 50.79
Bristol-Myers Squibb Co. 8.58 33.61 27.18 36.42 12.29
Gilead Sciences Inc. 6.19 8.24 13.10 18.74 32.48
Illumina Inc. 22.50 16.68 29.19 17.91 14.84
Johnson & Johnson 55.49 18.91 19.92 28.28 35.78
Merck & Co. Inc. 13.84 12.27 9.65 7.72 9.04
Pfizer Inc. 12.23 10.03 10.69 8.04 8.48
Regeneron Pharmaceuticals Inc. 81.43 91.55 83.75 185.82 87.03
Vertex Pharmaceuticals Inc. 24.84 9.28 0.77 0.17 -5.62
Zoetis Inc. 9.08 9.20 9.71 8.40 5.40
Interest Coverage, Sector
Pharmaceuticals & Biotechnology 11.66 10.75 11.30 12.88 15.58
Interest Coverage, Industry
Health Care 10.32 10.02 10.37 10.96 13.39

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= 5,666,500 ÷ 400,600 = 14.15

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. Eli Lilly & Co.’s interest coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.

Fixed Charge Coverage

Eli Lilly & Co., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Net income (loss) 8,318,400  3,232,000  (204,100) 2,737,600  2,408,400 
Less: Net income from discontinued operations 3,680,500  —  —  —  — 
Add: Income tax expense 628,000  563,700  2,401,500  636,400  381,600 
Add: Interest expense 400,600  272,100  225,000  185,200  161,200 
Earnings before interest and tax (EBIT) 5,666,500  4,067,800  2,422,400  3,559,200  2,951,200 
Add: Lease expense for operating lease assets 172,800  223,200  224,500  221,000  225,700 
Earnings before fixed charges and tax 5,839,300  4,291,000  2,646,900  3,780,200  3,176,900 
 
Interest expense 400,600  272,100  225,000  185,200  161,200 
Lease expense for operating lease assets 172,800  223,200  224,500  221,000  225,700 
Fixed charges 573,400  495,300  449,500  406,200  386,900 
Solvency Ratio
Fixed charge coverage1 10.18 8.66 5.89 9.31 8.21
Benchmarks
Fixed Charge Coverage, Competitors2
Abbott Laboratories 5.14 4.48 3.47 4.28 20.53
AbbVie Inc. 5.42 4.44 6.86 7.54 8.68
Amgen Inc. 7.12 7.13 7.56 7.57 7.50
Biogen Inc. 24.21 23.25 17.23 16.01 29.98
Bristol-Myers Squibb Co. 7.10 20.07 17.24 19.96 7.41
Gilead Sciences Inc. 5.46 7.58 12.26 17.36 29.28
Illumina Inc. 9.22 8.98 13.57 8.11 8.23
Johnson & Johnson 28.72 14.46 14.53 19.75 23.12
Merck & Co. Inc. 10.31 8.95 7.03 5.73 6.54
Pfizer Inc. 9.88 8.34 8.76 6.64 7.21
Vertex Pharmaceuticals Inc. 20.79 7.69 0.82 0.33 -4.45
Zoetis Inc. 7.85 7.73 8.55 7.43 4.63
Fixed Charge Coverage, Sector
Pharmaceuticals & Biotechnology 9.40 8.99 9.38 10.49 12.21
Fixed Charge Coverage, Industry
Health Care 7.94 7.90 8.16 8.63 10.02

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 5,839,300 ÷ 573,400 = 10.18

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. Eli Lilly & Co.’s fixed charge coverage ratio improved from 2017 to 2018 and from 2018 to 2019.