Stock Analysis on Net
Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

Analysis of Solvency Ratios
Quarterly Data

Beginner level

Solvency Ratios (Summary)

International Business Machines Corp., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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
Debt Ratios
Debt to equity 3.08 3.15 3.22 3.02 3.69 4.14 3.03 2.73 2.37 2.46 2.55 2.66 2.32 2.48 2.33 2.31 2.50 2.83 3.05 2.80 2.98 2.83 3.20
Debt to equity (including operating lease liability) 3.32 3.39 3.47 3.27 3.98 4.44 3.33 2.73 2.37 2.46 2.55 2.66 2.32 2.48 2.33 2.31 2.50 2.83 3.05 2.80 2.98 2.83 3.20
Debt to capital 0.76 0.76 0.76 0.75 0.79 0.81 0.75 0.73 0.70 0.71 0.72 0.73 0.70 0.71 0.70 0.70 0.71 0.74 0.75 0.74 0.75 0.74 0.76
Debt to capital (including operating lease liability) 0.77 0.77 0.78 0.77 0.80 0.82 0.77 0.73 0.70 0.71 0.72 0.73 0.70 0.71 0.70 0.70 0.71 0.74 0.75 0.74 0.75 0.74 0.76
Debt to assets 0.42 0.42 0.42 0.41 0.44 0.47 0.38 0.37 0.38 0.37 0.37 0.37 0.38 0.38 0.36 0.36 0.37 0.38 0.38 0.36 0.37 0.34 0.35
Debt to assets (including operating lease liability) 0.46 0.45 0.45 0.45 0.48 0.51 0.42 0.37 0.38 0.37 0.37 0.37 0.38 0.38 0.36 0.36 0.37 0.38 0.38 0.36 0.37 0.34 0.35
Financial leverage 7.27 7.50 7.67 7.30 8.33 8.76 7.94 7.35 6.17 6.57 6.90 7.12 6.20 6.54 6.41 6.44 6.80 7.50 7.96 7.75 8.17 8.24 9.23
Coverage Ratios
Interest coverage 6.54 5.90 6.64 8.56 9.95 13.80 16.74 16.69 17.42 18.08 18.23 19.54 20.60 21.26 21.58 20.57 21.74 23.90 28.57 35.07

Based on: 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-25), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-04-24), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-07-25), 10-Q (filing date: 2017-04-25), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-23), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. International Business Machines Corp.’s debt to equity ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. International Business Machines Corp.’s debt to equity ratio (including operating lease liability) improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. International Business Machines Corp.’s debt to capital ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. International Business Machines Corp.’s debt to capital ratio (including operating lease liability) improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. International Business Machines Corp.’s debt to assets ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. International Business Machines Corp.’s debt to assets ratio (including operating lease liability) improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. International Business Machines Corp.’s financial leverage ratio decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. International Business Machines Corp.’s interest coverage ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 not reaching Q1 2020 level.

Debt to Equity

International Business Machines Corp., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 debt 10,285  9,289  11,642  8,797  8,530  14,594  10,250  10,207  10,932  7,646  5,977  6,987  4,299  8,061  8,340  7,513  6,920  4,887  5,303  6,461  7,538  5,329  4,532 
Long-term debt, excluding current maturities 55,129  55,449  52,685  54,102  57,797  58,445  39,727  35,605  35,989  37,851  40,410  39,837  41,327  37,612  34,441  34,655  35,563  39,638  40,254  33,428  32,122  33,339  34,295 
Total debt 65,414  64,738  64,327  62,899  66,327  73,039  49,977  45,812  46,921  45,497  46,387  46,824  45,626  45,673  42,781  42,168  42,483  44,525  45,557  39,889  39,660  38,668  38,827 
 
Total IBM stockholders’ equity 21,208  20,551  19,999  20,841  17,956  17,645  16,481  16,796  19,784  18,520  18,166  17,594  19,627  18,419  18,327  18,246  17,010  15,733  14,925  14,262  13,294  13,684  12,141 
Solvency Ratio
Debt to equity1 3.08 3.15 3.22 3.02 3.69 4.14 3.03 2.73 2.37 2.46 2.55 2.66 2.32 2.48 2.33 2.31 2.50 2.83 3.05 2.80 2.98 2.83 3.20
Benchmarks
Debt to Equity, Competitors2
Adobe Inc. 0.35 0.38 0.39 0.39 0.40 0.42 0.42 0.44 0.21 0.22 0.22 0.22 0.23 0.24 0.25 0.26 0.26 0.26 0.27 0.27 0.28 0.29 0.29
Alphabet Inc. 0.07 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.04
Autodesk Inc. 14.78 5.02 2.94 2.03 1.40 1.12 1.04 0.92 0.86 0.78 0.34 0.34 0.33 0.33 0.33
Facebook 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
Intuit Inc. 0.08 0.11 0.12 0.12 0.11 0.15 0.15 0.19 0.19 0.95 0.73 0.36 0.29 1.46 1.18 0.86 0.80 1.94 0.81 0.21 0.21 0.21 0.17
Microsoft Corp. 0.58 0.63 0.66 0.71 0.77 0.79 0.89 0.92 0.97 1.14 0.95 1.19 1.20 1.23 1.06 0.75 0.62 0.58 0.50 0.44 0.35 0.31 0.26
Oracle Corp. 3.63 3.32 2.95 2.58 2.37 1.90 1.53 1.33 1.27 1.09 0.95 1.08 1.07 1.12 1.14 0.93 0.87 0.91 0.89 0.86 0.67 0.68 0.69
salesforce.com inc. 0.08 0.17 0.19 0.20 0.25 0.27 0.29 0.18 0.21 0.22 0.23 0.27 0.27 0.29 0.23 0.26 0.27 0.28 0.30 0.34 0.41 0.48 0.51
ServiceNow Inc. 0.64 0.28 0.31 0.33 0.48 0.54 0.56 0.60 0.80 0.96 1.33 2.01 2.10 2.36 1.21 1.31 1.38 1.51 1.60

Based on: 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-25), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-04-24), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-07-25), 10-Q (filing date: 2017-04-25), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-23), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28).

1 Q3 2020 Calculation
Debt to equity = Total debt ÷ Total IBM stockholders’ equity
= 65,414 ÷ 21,208 = 3.08

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. International Business Machines Corp.’s debt to equity ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Equity (including Operating Lease Liability)

International Business Machines Corp., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 debt 10,285  9,289  11,642  8,797  8,530  14,594  10,250  10,207  10,932  7,646  5,977  6,987  4,299  8,061  8,340  7,513  6,920  4,887  5,303  6,461  7,538  5,329  4,532 
Long-term debt, excluding current maturities 55,129  55,449  52,685  54,102  57,797  58,445  39,727  35,605  35,989  37,851  40,410  39,837  41,327  37,612  34,441  34,655  35,563  39,638  40,254  33,428  32,122  33,339  34,295 
Total debt 65,414  64,738  64,327  62,899  66,327  73,039  49,977  45,812  46,921  45,497  46,387  46,824  45,626  45,673  42,781  42,168  42,483  44,525  45,557  39,889  39,660  38,668  38,827 
Current operating lease liabilities 1,336  1,343  1,327  1,380  1,377  1,319  1,313  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Noncurrent operating lease liabilities 3,635  3,684  3,799  3,879  3,790  3,946  3,590  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 70,385  69,765  69,453  68,158  71,494  78,304  54,880  45,812  46,921  45,497  46,387  46,824  45,626  45,673  42,781  42,168  42,483  44,525  45,557  39,889  39,660  38,668  38,827 
 
Total IBM stockholders’ equity 21,208  20,551  19,999  20,841  17,956  17,645  16,481  16,796  19,784  18,520  18,166  17,594  19,627  18,419  18,327  18,246  17,010  15,733  14,925  14,262  13,294  13,684  12,141 
Solvency Ratio
Debt to equity (including operating lease liability)1 3.32 3.39 3.47 3.27 3.98 4.44 3.33 2.73 2.37 2.46 2.55 2.66 2.32 2.48 2.33 2.31 2.50 2.83 3.05 2.80 2.98 2.83 3.20
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Adobe Inc. 0.40 0.43 0.45 0.39 0.40 0.42 0.42 0.44 0.21 0.22 0.22 0.22 0.23 0.24 0.25 0.26 0.26 0.26 0.27 0.27 0.28 0.29 0.29
Alphabet Inc. 0.12 0.07 0.08 0.07 0.07 0.07 0.07 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.04
Autodesk Inc. 14.78 5.02 2.94 2.03 1.40 1.12 1.04 0.92 0.86 0.78 0.34 0.34 0.33 0.33 0.33
Facebook Inc. 0.09 0.10 0.10 0.10 0.10 0.09 0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Intuit Inc. 0.13 0.19 0.20 0.12 0.11 0.15 0.15 0.19 0.19 0.95 0.73 0.36 0.29 1.46 1.18 0.86 0.80 1.94 0.81 0.21 0.21 0.21 0.17
Microsoft Corp. 0.65 0.70 0.72 0.77 0.83 0.86 0.95 0.99 1.05 1.21 1.02 1.19 1.20 1.23 1.06 0.75 0.62 0.58 0.50 0.44 0.35 0.31 0.26
salesforce.com inc. 0.18 0.35 0.38 0.20 0.25 0.27 0.29 0.18 0.21 0.22 0.23 0.27 0.27 0.29 0.23 0.26 0.27 0.28 0.30 0.34 0.41 0.48 0.51
ServiceNow Inc. 0.82 0.48 0.53 0.53 0.79 0.88 0.91 0.60 0.80 0.96 1.33 2.01 2.10 2.36 1.21 1.31 1.38 1.51 1.60

Based on: 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-25), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-04-24), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-07-25), 10-Q (filing date: 2017-04-25), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-23), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28).

1 Q3 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total IBM stockholders’ equity
= 70,385 ÷ 21,208 = 3.32

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. International Business Machines Corp.’s debt to equity ratio (including operating lease liability) improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Capital

International Business Machines Corp., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 debt 10,285  9,289  11,642  8,797  8,530  14,594  10,250  10,207  10,932  7,646  5,977  6,987  4,299  8,061  8,340  7,513  6,920  4,887  5,303  6,461  7,538  5,329  4,532 
Long-term debt, excluding current maturities 55,129  55,449  52,685  54,102  57,797  58,445  39,727  35,605  35,989  37,851  40,410  39,837  41,327  37,612  34,441  34,655  35,563  39,638  40,254  33,428  32,122  33,339  34,295 
Total debt 65,414  64,738  64,327  62,899  66,327  73,039  49,977  45,812  46,921  45,497  46,387  46,824  45,626  45,673  42,781  42,168  42,483  44,525  45,557  39,889  39,660  38,668  38,827 
Total IBM stockholders’ equity 21,208  20,551  19,999  20,841  17,956  17,645  16,481  16,796  19,784  18,520  18,166  17,594  19,627  18,419  18,327  18,246  17,010  15,733  14,925  14,262  13,294  13,684  12,141 
Total capital 86,622  85,289  84,326  83,740  84,283  90,684  66,458  62,608  66,705  64,017  64,553  64,418  65,253  64,092  61,108  60,414  59,493  60,258  60,482  54,151  52,954  52,352  50,968 
Solvency Ratio
Debt to capital1 0.76 0.76 0.76 0.75 0.79 0.81 0.75 0.73 0.70 0.71 0.72 0.73 0.70 0.71 0.70 0.70 0.71 0.74 0.75 0.74 0.75 0.74 0.76
Benchmarks
Debt to Capital, Competitors2
Adobe Inc. 0.26 0.27 0.28 0.28 0.29 0.29 0.29 0.31 0.17 0.18 0.18 0.18 0.19 0.19 0.20 0.20 0.21 0.21 0.21 0.21 0.22 0.22 0.22
Alphabet Inc. 0.06 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.02 0.03 0.03 0.03 0.03 0.03 0.04
Autodesk Inc. 1.11 1.12 1.14 1.11 1.27 1.18 1.09 1.19 0.94 0.83 0.75 0.67 0.58 0.53 0.51 0.48 0.46 0.44 0.25 0.25 0.25 0.25 0.25
Facebook 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
Intuit Inc. 0.08 0.10 0.10 0.10 0.10 0.13 0.13 0.16 0.16 0.49 0.42 0.26 0.23 0.59 0.54 0.46 0.44 0.66 0.45 0.18 0.18 0.17 0.15
Microsoft Corp. 0.37 0.39 0.40 0.41 0.44 0.44 0.47 0.48 0.49 0.53 0.49 0.54 0.55 0.55 0.51 0.43 0.38 0.37 0.33 0.31 0.26 0.24 0.21
Oracle Corp. 0.78 0.77 0.75 0.72 0.70 0.65 0.60 0.57 0.56 0.52 0.49 0.52 0.52 0.53 0.53 0.48 0.47 0.48 0.47 0.46 0.40 0.41 0.41
salesforce.com inc. 0.08 0.15 0.16 0.17 0.20 0.21 0.22 0.15 0.17 0.18 0.19 0.21 0.21 0.23 0.19 0.21 0.21 0.22 0.23 0.26 0.29 0.33 0.34
ServiceNow Inc. 0.39 0.22 0.24 0.25 0.32 0.35 0.36 0.37 0.44 0.49 0.57 0.67 0.68 0.70 0.55 0.57 0.58 0.60 0.61

Based on: 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-25), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-04-24), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-07-25), 10-Q (filing date: 2017-04-25), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-23), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28).

1 Q3 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 65,414 ÷ 86,622 = 0.76

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. International Business Machines Corp.’s debt to capital ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Capital (including Operating Lease Liability)

International Business Machines Corp., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 debt 10,285  9,289  11,642  8,797  8,530  14,594  10,250  10,207  10,932  7,646  5,977  6,987  4,299  8,061  8,340  7,513  6,920  4,887  5,303  6,461  7,538  5,329  4,532 
Long-term debt, excluding current maturities 55,129  55,449  52,685  54,102  57,797  58,445  39,727  35,605  35,989  37,851  40,410  39,837  41,327  37,612  34,441  34,655  35,563  39,638  40,254  33,428  32,122  33,339  34,295 
Total debt 65,414  64,738  64,327  62,899  66,327  73,039  49,977  45,812  46,921  45,497  46,387  46,824  45,626  45,673  42,781  42,168  42,483  44,525  45,557  39,889  39,660  38,668  38,827 
Current operating lease liabilities 1,336  1,343  1,327  1,380  1,377  1,319  1,313  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Noncurrent operating lease liabilities 3,635  3,684  3,799  3,879  3,790  3,946  3,590  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 70,385  69,765  69,453  68,158  71,494  78,304  54,880  45,812  46,921  45,497  46,387  46,824  45,626  45,673  42,781  42,168  42,483  44,525  45,557  39,889  39,660  38,668  38,827 
Total IBM stockholders’ equity 21,208  20,551  19,999  20,841  17,956  17,645  16,481  16,796  19,784  18,520  18,166  17,594  19,627  18,419  18,327  18,246  17,010  15,733  14,925  14,262  13,294  13,684  12,141 
Total capital (including operating lease liability) 91,593  90,316  89,452  88,999  89,450  95,949  71,361  62,608  66,705  64,017  64,553  64,418  65,253  64,092  61,108  60,414  59,493  60,258  60,482  54,151  52,954  52,352  50,968 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.77 0.77 0.78 0.77 0.80 0.82 0.77 0.73 0.70 0.71 0.72 0.73 0.70 0.71 0.70 0.70 0.71 0.74 0.75 0.74 0.75 0.74 0.76
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Adobe Inc. 0.29 0.30 0.31 0.28 0.29 0.29 0.29 0.31 0.17 0.18 0.18 0.18 0.19 0.19 0.20 0.20 0.21 0.21 0.21 0.21 0.22 0.22 0.22
Alphabet Inc. 0.10 0.07 0.07 0.07 0.07 0.06 0.06 0.02 0.02 0.02 0.03 0.03 0.02 0.03 0.03 0.03 0.03 0.03 0.04
Autodesk Inc. 1.09 1.10 1.12 1.11 1.27 1.18 1.09 1.19 0.94 0.83 0.75 0.67 0.58 0.53 0.51 0.48 0.46 0.44 0.25 0.25 0.25 0.25 0.25
Facebook Inc. 0.08 0.09 0.09 0.09 0.09 0.08 0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Intuit Inc. 0.11 0.16 0.17 0.10 0.10 0.13 0.13 0.16 0.16 0.49 0.42 0.26 0.23 0.59 0.54 0.46 0.44 0.66 0.45 0.18 0.18 0.17 0.15
Microsoft Corp. 0.39 0.41 0.42 0.43 0.45 0.46 0.49 0.50 0.51 0.55 0.50 0.54 0.55 0.55 0.51 0.43 0.38 0.37 0.33 0.31 0.26 0.24 0.21
salesforce.com inc. 0.15 0.26 0.27 0.17 0.20 0.21 0.22 0.15 0.17 0.18 0.19 0.21 0.21 0.23 0.19 0.21 0.21 0.22 0.23 0.26 0.29 0.33 0.34
ServiceNow Inc. 0.45 0.33 0.35 0.35 0.44 0.47 0.48 0.37 0.44 0.49 0.57 0.67 0.68 0.70 0.55 0.57 0.58 0.60 0.61

Based on: 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-25), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-04-24), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-07-25), 10-Q (filing date: 2017-04-25), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-23), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28).

1 Q3 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 70,385 ÷ 91,593 = 0.77

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. International Business Machines Corp.’s debt to capital ratio (including operating lease liability) improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Assets

International Business Machines Corp., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 debt 10,285  9,289  11,642  8,797  8,530  14,594  10,250  10,207  10,932  7,646  5,977  6,987  4,299  8,061  8,340  7,513  6,920  4,887  5,303  6,461  7,538  5,329  4,532 
Long-term debt, excluding current maturities 55,129  55,449  52,685  54,102  57,797  58,445  39,727  35,605  35,989  37,851  40,410  39,837  41,327  37,612  34,441  34,655  35,563  39,638  40,254  33,428  32,122  33,339  34,295 
Total debt 65,414  64,738  64,327  62,899  66,327  73,039  49,977  45,812  46,921  45,497  46,387  46,824  45,626  45,673  42,781  42,168  42,483  44,525  45,557  39,889  39,660  38,668  38,827 
 
Total assets 154,128  154,200  153,403  152,186  149,620  154,652  130,926  123,382  121,990  121,622  125,285  125,356  121,636  120,495  117,495  117,470  115,606  118,056  118,856  110,495  108,649  112,729  112,037 
Solvency Ratio
Debt to assets1 0.42 0.42 0.42 0.41 0.44 0.47 0.38 0.37 0.38 0.37 0.37 0.37 0.38 0.38 0.36 0.36 0.37 0.38 0.38 0.36 0.37 0.34 0.35
Benchmarks
Debt to Assets, Competitors2
Adobe Inc. 0.18 0.19 0.19 0.20 0.21 0.21 0.21 0.22 0.12 0.12 0.13 0.13 0.14 0.14 0.14 0.15 0.15 0.16 0.16 0.16 0.17 0.17 0.17
Alphabet Inc. 0.05 0.01 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03
Autodesk Inc. 0.35 0.38 0.41 0.44 0.42 0.41 0.41 0.39 0.38 0.36 0.34 0.31 0.31 0.30 0.29 0.27 0.28 0.28 0.16 0.15 0.16 0.16 0.16
Facebook 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
Intuit Inc. 0.05 0.06 0.07 0.07 0.06 0.08 0.09 0.08 0.08 0.23 0.22 0.12 0.10 0.26 0.28 0.24 0.20 0.29 0.22 0.10 0.09 0.10 0.10
Microsoft Corp. 0.23 0.25 0.25 0.25 0.28 0.28 0.30 0.29 0.31 0.35 0.34 0.36 0.37 0.38 0.35 0.28 0.26 0.25 0.22 0.20 0.18 0.16 0.14
Oracle Corp. 0.53 0.52 0.51 0.52 0.51 0.49 0.45 0.44 0.44 0.44 0.40 0.43 0.43 0.44 0.44 0.39 0.38 0.39 0.38 0.38 0.33 0.33 0.33
salesforce.com inc. 0.06 0.09 0.10 0.10 0.14 0.14 0.14 0.08 0.10 0.10 0.11 0.11 0.13 0.12 0.10 0.10 0.12 0.12 0.12 0.13 0.16 0.18 0.19
ServiceNow Inc. 0.22 0.11 0.11 0.12 0.14 0.15 0.15 0.17 0.23 0.25 0.31 0.35 0.38 0.39 0.24 0.25 0.28 0.29 0.26

Based on: 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-25), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-04-24), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-07-25), 10-Q (filing date: 2017-04-25), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-23), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28).

1 Q3 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 65,414 ÷ 154,128 = 0.42

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. International Business Machines Corp.’s debt to assets ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Assets (including Operating Lease Liability)

International Business Machines Corp., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 debt 10,285  9,289  11,642  8,797  8,530  14,594  10,250  10,207  10,932  7,646  5,977  6,987  4,299  8,061  8,340  7,513  6,920  4,887  5,303  6,461  7,538  5,329  4,532 
Long-term debt, excluding current maturities 55,129  55,449  52,685  54,102  57,797  58,445  39,727  35,605  35,989  37,851  40,410  39,837  41,327  37,612  34,441  34,655  35,563  39,638  40,254  33,428  32,122  33,339  34,295 
Total debt 65,414  64,738  64,327  62,899  66,327  73,039  49,977  45,812  46,921  45,497  46,387  46,824  45,626  45,673  42,781  42,168  42,483  44,525  45,557  39,889  39,660  38,668  38,827 
Current operating lease liabilities 1,336  1,343  1,327  1,380  1,377  1,319  1,313  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Noncurrent operating lease liabilities 3,635  3,684  3,799  3,879  3,790  3,946  3,590  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 70,385  69,765  69,453  68,158  71,494  78,304  54,880  45,812  46,921  45,497  46,387  46,824  45,626  45,673  42,781  42,168  42,483  44,525  45,557  39,889  39,660  38,668  38,827 
 
Total assets 154,128  154,200  153,403  152,186  149,620  154,652  130,926  123,382  121,990  121,622  125,285  125,356  121,636  120,495  117,495  117,470  115,606  118,056  118,856  110,495  108,649  112,729  112,037 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.46 0.45 0.45 0.45 0.48 0.51 0.42 0.37 0.38 0.37 0.37 0.37 0.38 0.38 0.36 0.36 0.37 0.38 0.38 0.36 0.37 0.34 0.35
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Adobe Inc. 0.21 0.22 0.22 0.20 0.21 0.21 0.21 0.22 0.12 0.12 0.13 0.13 0.14 0.14 0.14 0.15 0.15 0.16 0.16 0.16 0.17 0.17 0.17
Alphabet Inc. 0.08 0.05 0.06 0.05 0.05 0.05 0.05 0.02 0.02 0.02 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03
Autodesk Inc. 0.41 0.44 0.48 0.44 0.42 0.41 0.41 0.39 0.38 0.36 0.34 0.31 0.31 0.30 0.29 0.27 0.28 0.28 0.16 0.15 0.16 0.16 0.16
Facebook Inc. 0.07 0.08 0.07 0.08 0.07 0.07 0.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Intuit Inc. 0.08 0.10 0.12 0.07 0.06 0.08 0.09 0.08 0.08 0.23 0.22 0.12 0.10 0.26 0.28 0.24 0.20 0.29 0.22 0.10 0.09 0.10 0.10
Microsoft Corp. 0.26 0.27 0.27 0.27 0.30 0.30 0.32 0.32 0.34 0.37 0.37 0.36 0.37 0.38 0.35 0.28 0.26 0.25 0.22 0.20 0.18 0.16 0.14
salesforce.com inc. 0.12 0.18 0.19 0.10 0.14 0.14 0.14 0.08 0.10 0.10 0.11 0.11 0.13 0.12 0.10 0.10 0.12 0.12 0.12 0.13 0.16 0.18 0.19
ServiceNow Inc. 0.29 0.18 0.19 0.19 0.24 0.24 0.25 0.17 0.23 0.25 0.31 0.35 0.38 0.39 0.24 0.25 0.28 0.29 0.26

Based on: 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-25), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-04-24), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-07-25), 10-Q (filing date: 2017-04-25), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-23), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28).

1 Q3 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 70,385 ÷ 154,128 = 0.46

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. International Business Machines Corp.’s debt to assets ratio (including operating lease liability) improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.

Financial Leverage

International Business Machines Corp., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 154,128  154,200  153,403  152,186  149,620  154,652  130,926  123,382  121,990  121,622  125,285  125,356  121,636  120,495  117,495  117,470  115,606  118,056  118,856  110,495  108,649  112,729  112,037 
Total IBM stockholders’ equity 21,208  20,551  19,999  20,841  17,956  17,645  16,481  16,796  19,784  18,520  18,166  17,594  19,627  18,419  18,327  18,246  17,010  15,733  14,925  14,262  13,294  13,684  12,141 
Solvency Ratio
Financial leverage1 7.27 7.50 7.67 7.30 8.33 8.76 7.94 7.35 6.17 6.57 6.90 7.12 6.20 6.54 6.41 6.44 6.80 7.50 7.96 7.75 8.17 8.24 9.23
Benchmarks
Financial Leverage, Competitors2
Adobe Inc. 1.91 1.99 2.03 1.97 1.96 1.98 1.98 2.00 1.74 1.74 1.73 1.72 1.70 1.71 1.72 1.71 1.70 1.69 1.68 1.67 1.68 1.69 1.67
Alphabet Inc. 1.41 1.34 1.34 1.37 1.35 1.34 1.34 1.31 1.30 1.31 1.29 1.29 1.21 1.20 1.19 1.20 1.19 1.21 1.21
Autodesk Inc. 38.70 13.80 8.72 6.54 4.55 3.79 3.63 3.41 3.01 2.81 2.15 2.21 2.09 2.06 2.03
Facebook Inc. 1.24 1.26 1.31 1.32 1.32 1.32 1.27 1.16 1.15 1.14 1.15 1.14 1.11 1.11 1.10 1.10 1.10 1.11 1.10
Intuit Inc. 1.64 1.80 1.70 1.68 1.70 1.91 1.77 2.20 2.45 4.23 3.38 3.00 2.93 5.57 4.20 3.66 3.96 6.78 3.65 2.13 2.28 2.23 1.72
Microsoft Corp. 2.49 2.57 2.63 2.80 2.78 2.81 3.00 3.13 3.10 3.27 2.78 3.33 3.23 3.26 3.02 2.69 2.43 2.35 2.23 2.20 1.96 1.90 1.88
Oracle Corp. 6.79 6.33 5.76 4.99 4.61 3.87 3.37 3.00 2.89 2.48 2.39 2.51 2.48 2.55 2.60 2.37 2.29 2.32 2.33 2.28 2.05 2.07 2.11
salesforce.com inc. 1.50 1.94 2.02 1.97 1.81 1.91 2.08 2.24 1.98 2.06 2.15 2.34 2.11 2.35 2.30 2.55 2.30 2.38 2.45 2.69 2.48 2.73 2.76
ServiceNow Inc. 2.88 2.63 2.73 2.83 3.33 3.65 3.68 3.49 3.51 3.89 4.28 5.82 5.57 6.06 5.08 5.26 5.00 5.29 6.20

Based on: 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-25), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-04-24), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-07-25), 10-Q (filing date: 2017-04-25), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-23), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28).

1 Q3 2020 Calculation
Financial leverage = Total assets ÷ Total IBM stockholders’ equity
= 154,128 ÷ 21,208 = 7.27

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. International Business Machines Corp.’s financial leverage ratio decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Interest Coverage

International Business Machines Corp., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Net income 1,698  1,361  1,175  3,670  1,672  2,498  1,591  1,951  2,694  2,404  1,679  (1,054) 2,726  2,331  1,750  4,501  2,853  2,504  2,014  4,463  2,950  3,449  2,328 
Less: Income (loss) from discontinued operations, net of tax (1) (1) (1) —  (1) (1) (2) (2) (1) —  (1) (3) (5) (1) (1) (2) (12) (77) (87)
Add: Income tax expense 128  209  (1,225) 323  (151) 269  290  2,481  304  373  (539) 5,521  339  111  (329) 479  409  544  (983) 638  659  698  586 
Add: Interest expense 323  323  326  354  432  348  210  195  191  172  165  165  168  147  135  158  158  167  147  128  117  115  108 
Earnings before interest and tax (EBIT) 2,150  1,894  277  4,347  1,954  3,116  2,093  4,629  3,187  2,948  1,301  4,633  3,233  2,590  1,559  5,143  3,421  3,216  1,180  5,227  3,738  4,339  3,109 
Solvency Ratio
Interest coverage1 6.54 5.90 6.64 8.56 9.95 13.80 16.74 16.69 17.42 18.08 18.23 19.54 20.60 21.26 21.58 20.57 21.74 23.90 28.57 35.07
Benchmarks
Interest Coverage, Competitors2
Adobe Inc. 32.36 28.08 23.87 21.38 20.83 22.62 26.41 32.31 35.01 33.97 32.24 29.73 27.80 25.78 23.87 21.37 19.37 17.77 15.72 14.61
Intuit Inc. 158.50 164.67 148.46 126.40 122.50 104.76 82.47 76.15 83.47 64.14 52.11 45.10 36.54 30.56 32.65 35.37 36.22 32.38 30.19 27.37
Oracle Corp. 7.31 7.14 6.96 6.89 6.96 6.99 7.16 7.37 7.39 7.35 7.34 7.41 7.84 8.25 8.62 8.80 8.97 9.79 10.89 12.23
ServiceNow Inc. 6.07 7.06 4.77 3.02 2.04 0.49 0.02 0.26 -0.09 -0.45 -0.83 -1.79 -2.44 -3.48 -3.78 -12.52

Based on: 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-25), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-04-24), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-07-25), 10-Q (filing date: 2017-04-25), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-23), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28).

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)
= (2,150 + 1,894 + 277 + 4,347) ÷ (323 + 323 + 326 + 354) = 6.54

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. International Business Machines Corp.’s interest coverage ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 not reaching Q1 2020 level.