Microsoft Excel LibreOffice Calc

Illinois Tool Works Inc. (NYSE:ITW)

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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)

Illinois Tool Works Inc., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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
Debt Ratios
Debt to equity
Debt to capital
Debt to assets
Financial leverage
Coverage Ratios
Interest coverage

Based on: 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Illinois Tool Works Inc.’s debt to equity ratio improved from Q3 2019 to Q4 2019 but then deteriorated significantly from Q4 2019 to Q1 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Illinois Tool Works Inc.’s debt to capital ratio improved from Q3 2019 to Q4 2019 but then deteriorated significantly from Q4 2019 to Q1 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Illinois Tool Works Inc.’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. Illinois Tool Works Inc.’s financial leverage ratio decreased from Q3 2019 to Q4 2019 but then increased from Q4 2019 to Q1 2020 exceeding Q3 2019 level.
Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Illinois Tool Works Inc.’s interest coverage ratio improved from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Debt to Equity

Illinois Tool Works Inc., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 debt
Long-term debt
Total debt
 
Stockholders’ equity attributable to ITW
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Caterpillar Inc.

Based on: 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07).

1 Q1 2020 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity attributable to ITW
= ÷ =

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. Illinois Tool Works Inc.’s debt to equity ratio improved from Q3 2019 to Q4 2019 but then deteriorated significantly from Q4 2019 to Q1 2020.

Debt to Capital

Illinois Tool Works Inc., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 debt
Long-term debt
Total debt
Stockholders’ equity attributable to ITW
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Caterpillar Inc.

Based on: 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07).

1 Q1 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. Illinois Tool Works Inc.’s debt to capital ratio improved from Q3 2019 to Q4 2019 but then deteriorated significantly from Q4 2019 to Q1 2020.

Debt to Assets

Illinois Tool Works Inc., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 debt
Long-term debt
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Caterpillar Inc.

Based on: 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07).

1 Q1 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. Illinois Tool Works Inc.’s debt to assets ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Financial Leverage

Illinois Tool Works Inc., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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
Stockholders’ equity attributable to ITW
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Caterpillar Inc.

Based on: 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07).

1 Q1 2020 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity attributable to ITW
= ÷ =

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. Illinois Tool Works Inc.’s financial leverage ratio decreased from Q3 2019 to Q4 2019 but then increased from Q4 2019 to Q1 2020 exceeding Q3 2019 level.

Interest Coverage

Illinois Tool Works Inc., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Net income
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Caterpillar Inc.

Based on: 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07).

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)
= ( + + + ) ÷ ( + + + ) =

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. Illinois Tool Works Inc.’s interest coverage ratio improved from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.