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

Johnson & Johnson (NYSE:JNJ)

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Analysis of Solvency Ratios

Beginner level

Solvency Ratios (Summary)

Johnson & Johnson, solvency ratios

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

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

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

Debt to Equity

Johnson & Johnson, debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Loans and notes payable
Long-term debt, excluding current portion
Total debt
 
Shareholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
Debt to Equity, Sector
Pharmaceuticals & Biotechnology
Debt to Equity, Industry
Health Care

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 2019 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= ÷ =

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. Johnson & Johnson’s debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Equity (including Operating Lease Liability)

Johnson & Johnson, debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Loans and notes payable
Long-term debt, excluding current portion
Total debt
Current operating lease liabilities
Non-current operating lease liabilities
Total debt (including operating lease liability)
 
Shareholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
Debt to Equity (including Operating Lease Liability), Sector
Pharmaceuticals & Biotechnology
Debt to Equity (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= ÷ =

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. Johnson & Johnson’s debt to equity ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019.

Debt to Capital

Johnson & Johnson, debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Loans and notes payable
Long-term debt, excluding current portion
Total debt
Shareholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
Debt to Capital, Sector
Pharmaceuticals & Biotechnology
Debt to Capital, Industry
Health Care

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 2019 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. Johnson & Johnson’s debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Capital (including Operating Lease Liability)

Johnson & Johnson, debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Loans and notes payable
Long-term debt, excluding current portion
Total debt
Current operating lease liabilities
Non-current operating lease liabilities
Total debt (including operating lease liability)
Shareholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
Debt to Capital (including Operating Lease Liability), Sector
Pharmaceuticals & Biotechnology
Debt to Capital (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

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. Johnson & Johnson’s debt to capital ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019.

Debt to Assets

Johnson & Johnson, debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Loans and notes payable
Long-term debt, excluding current portion
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
Debt to Assets, Sector
Pharmaceuticals & Biotechnology
Debt to Assets, Industry
Health Care

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 2019 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. Johnson & Johnson’s debt to assets ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Assets (including Operating Lease Liability)

Johnson & Johnson, debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Loans and notes payable
Long-term debt, excluding current portion
Total debt
Current operating lease liabilities
Non-current operating lease liabilities
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
Debt to Assets (including Operating Lease Liability), Sector
Pharmaceuticals & Biotechnology
Debt to Assets (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

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. Johnson & Johnson’s debt to assets ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019.

Financial Leverage

Johnson & Johnson, financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Total assets
Shareholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
Financial Leverage, Sector
Pharmaceuticals & Biotechnology
Financial Leverage, Industry
Health Care

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 2019 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= ÷ =

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. Johnson & Johnson’s financial leverage ratio decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.

Interest Coverage

Johnson & Johnson, interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net earnings
Add: Income tax expense
Add: Interest expense, net of portion capitalized
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
Interest Coverage, Sector
Pharmaceuticals & Biotechnology
Interest Coverage, Industry
Health Care

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

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. Johnson & Johnson’s interest coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Fixed Charge Coverage

Johnson & Johnson, fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net earnings
Add: Income tax expense
Add: Interest expense, net of portion capitalized
Earnings before interest and tax (EBIT)
Add: Operating lease costs
Earnings before fixed charges and tax
 
Interest expense, net of portion capitalized
Operating lease costs
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
Abbott Laboratories
AbbVie Inc.
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
Fixed Charge Coverage, Sector
Pharmaceuticals & Biotechnology
Fixed Charge Coverage, Industry
Health Care

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

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. Johnson & Johnson’s fixed charge coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.