Stock Analysis on Net

Johnson & Johnson (NYSE:JNJ)

Analysis of Solvency Ratios 

Microsoft Excel LibreOffice Calc

Solvency Ratios (Summary)

Johnson & Johnson, solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017
Debt Ratios
Debt to equity 0.46 0.56 0.47 0.51 0.57
Debt to equity (including operating lease liability) 0.47 0.57 0.48 0.51 0.57
Debt to capital 0.31 0.36 0.32 0.34 0.37
Debt to capital (including operating lease liability) 0.32 0.36 0.33 0.34 0.37
Debt to assets 0.19 0.20 0.18 0.20 0.22
Debt to assets (including operating lease liability) 0.19 0.21 0.18 0.20 0.22
Financial leverage 2.46 2.76 2.65 2.56 2.61
Coverage Ratios
Interest coverage 125.46 83.07 55.49 18.91 19.92
Fixed charge coverage 48.16 33.93 28.72 14.46 14.53

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Johnson & Johnson debt to equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
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 debt to equity ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Johnson & Johnson debt to capital ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
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 debt to capital ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Johnson & Johnson debt to assets ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
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 debt to assets ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Johnson & Johnson financial leverage ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Johnson & Johnson interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Johnson & Johnson fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Equity

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

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Loans and notes payable 3,766  2,631  1,202  2,796  3,906 
Long-term debt, excluding current portion 29,985  32,635  26,494  27,684  30,675 
Total debt 33,751  35,266  27,696  30,480  34,581 
 
Shareholders’ equity 74,023  63,278  59,471  59,752  60,160 
Solvency Ratio
Debt to equity1 0.46 0.56 0.47 0.51 0.57
Benchmarks
Debt to Equity, Competitors2
AbbVie Inc. 4.98 6.58 7.33
Amgen Inc. 4.97 3.51 3.09 2.71 1.40
Eli Lilly & Co. 1.88 2.94 5.88 1.30 1.18
Gilead Sciences Inc. 1.27 1.73 1.09 1.28 1.64
Merck & Co. Inc. 0.87 1.26 1.02 0.94 0.71
Moderna Inc. 0.05 0.05 0.03 0.03
Pfizer Inc. 0.50 0.63 0.83 0.66 0.61
Regeneron Pharmaceuticals Inc. 0.14 0.24 0.06 0.08 0.11
Thermo Fisher Scientific Inc. 0.85 0.63 0.60 0.69 0.83
Zoetis Inc. 1.45 1.91 2.38 2.95 2.80
Debt to Equity, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.95 1.22 1.22 1.06 0.95
Debt to Equity, Industry
Health Care 0.84 0.99 1.00 0.94 0.89

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 33,751 ÷ 74,023 = 0.46

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 debt to equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

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 31, 2021 Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Loans and notes payable 3,766  2,631  1,202  2,796  3,906 
Long-term debt, excluding current portion 29,985  32,635  26,494  27,684  30,675 
Total debt 33,751  35,266  27,696  30,480  34,581 
Operating lease liability 1,000  1,100  985  —  — 
Total debt (including operating lease liability) 34,751  36,366  28,681  30,480  34,581 
 
Shareholders’ equity 74,023  63,278  59,471  59,752  60,160 
Solvency Ratio
Debt to equity (including operating lease liability)1 0.47 0.57 0.48 0.51 0.57
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
AbbVie Inc. 5.03 6.66 7.33
Amgen Inc. 5.07 3.55 3.15 2.71 1.40
Eli Lilly & Co. 1.96 3.06 6.11 1.30 1.18
Gilead Sciences Inc. 1.30 1.76 1.12 1.28 1.64
Merck & Co. Inc. 0.91 1.32 1.06 0.94 0.71
Moderna Inc. 0.06 0.09 0.12 0.03
Pfizer Inc. 0.54 0.65 0.85 0.66 0.61
Thermo Fisher Scientific Inc. 0.89 0.65 0.62 0.69 0.83
Zoetis Inc. 1.49 1.96 2.45 2.95 2.80
Debt to Equity (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.98 1.26 1.25 1.06 0.95
Debt to Equity (including Operating Lease Liability), Industry
Health Care 0.90 1.05 1.06 0.94 0.89

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 34,751 ÷ 74,023 = 0.47

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 debt to equity ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Debt to Capital

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

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Loans and notes payable 3,766  2,631  1,202  2,796  3,906 
Long-term debt, excluding current portion 29,985  32,635  26,494  27,684  30,675 
Total debt 33,751  35,266  27,696  30,480  34,581 
Shareholders’ equity 74,023  63,278  59,471  59,752  60,160 
Total capital 107,774  98,544  87,167  90,232  94,741 
Solvency Ratio
Debt to capital1 0.31 0.36 0.32 0.34 0.37
Benchmarks
Debt to Capital, Competitors2
AbbVie Inc. 0.83 0.87 1.14 1.27 0.88
Amgen Inc. 0.83 0.78 0.76 0.73 0.58
Eli Lilly & Co. 0.65 0.75 0.85 0.57 0.54
Gilead Sciences Inc. 0.56 0.63 0.52 0.56 0.62
Merck & Co. Inc. 0.46 0.56 0.50 0.48 0.42
Moderna Inc. 0.05 0.05 0.03 0.03
Pfizer Inc. 0.33 0.39 0.45 0.40 0.38
Regeneron Pharmaceuticals Inc. 0.13 0.20 0.06 0.07 0.10
Thermo Fisher Scientific Inc. 0.46 0.39 0.37 0.41 0.45
Zoetis Inc. 0.59 0.66 0.70 0.75 0.74
Debt to Capital, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.49 0.55 0.55 0.51 0.49
Debt to Capital, Industry
Health Care 0.46 0.50 0.50 0.49 0.47

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 33,751 ÷ 107,774 = 0.31

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 debt to capital ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

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 31, 2021 Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Loans and notes payable 3,766  2,631  1,202  2,796  3,906 
Long-term debt, excluding current portion 29,985  32,635  26,494  27,684  30,675 
Total debt 33,751  35,266  27,696  30,480  34,581 
Operating lease liability 1,000  1,100  985  —  — 
Total debt (including operating lease liability) 34,751  36,366  28,681  30,480  34,581 
Shareholders’ equity 74,023  63,278  59,471  59,752  60,160 
Total capital (including operating lease liability) 108,774  99,644  88,152  90,232  94,741 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.32 0.36 0.33 0.34 0.37
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
AbbVie Inc. 0.83 0.87 1.14 1.27 0.88
Amgen Inc. 0.84 0.78 0.76 0.73 0.58
Eli Lilly & Co. 0.66 0.75 0.86 0.57 0.54
Gilead Sciences Inc. 0.56 0.64 0.53 0.56 0.62
Merck & Co. Inc. 0.48 0.57 0.51 0.48 0.42
Moderna Inc. 0.06 0.08 0.10 0.03
Pfizer Inc. 0.35 0.39 0.46 0.40 0.38
Thermo Fisher Scientific Inc. 0.47 0.40 0.38 0.41 0.45
Zoetis Inc. 0.60 0.66 0.71 0.75 0.74
Debt to Capital (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.50 0.56 0.56 0.51 0.49
Debt to Capital (including Operating Lease Liability), Industry
Health Care 0.47 0.51 0.52 0.49 0.47

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 34,751 ÷ 108,774 = 0.32

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 debt to capital ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Debt to Assets

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

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Loans and notes payable 3,766  2,631  1,202  2,796  3,906 
Long-term debt, excluding current portion 29,985  32,635  26,494  27,684  30,675 
Total debt 33,751  35,266  27,696  30,480  34,581 
 
Total assets 182,018  174,894  157,728  152,954  157,303 
Solvency Ratio
Debt to assets1 0.19 0.20 0.18 0.20 0.22
Benchmarks
Debt to Assets, Competitors2
AbbVie Inc. 0.52 0.57 0.75 0.68 0.53
Amgen Inc. 0.54 0.52 0.50 0.51 0.44
Eli Lilly & Co. 0.35 0.36 0.39 0.29 0.30
Gilead Sciences Inc. 0.39 0.46 0.40 0.43 0.48
Merck & Co. Inc. 0.31 0.35 0.31 0.30 0.28
Moderna Inc. 0.03 0.02 0.02 0.02
Pfizer Inc. 0.21 0.26 0.31 0.26 0.25
Regeneron Pharmaceuticals Inc. 0.11 0.16 0.05 0.06 0.08
Thermo Fisher Scientific Inc. 0.37 0.31 0.30 0.34 0.37
Zoetis Inc. 0.47 0.53 0.56 0.60 0.58
Debt to Assets, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.32 0.36 0.36 0.34 0.33
Debt to Assets, Industry
Health Care 0.30 0.33 0.33 0.33 0.32

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 33,751 ÷ 182,018 = 0.19

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 debt to assets ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

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 31, 2021 Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Loans and notes payable 3,766  2,631  1,202  2,796  3,906 
Long-term debt, excluding current portion 29,985  32,635  26,494  27,684  30,675 
Total debt 33,751  35,266  27,696  30,480  34,581 
Operating lease liability 1,000  1,100  985  —  — 
Total debt (including operating lease liability) 34,751  36,366  28,681  30,480  34,581 
 
Total assets 182,018  174,894  157,728  152,954  157,303 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.19 0.21 0.18 0.20 0.22
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
AbbVie Inc. 0.53 0.58 0.75 0.68 0.53
Amgen Inc. 0.56 0.53 0.51 0.51 0.44
Eli Lilly & Co. 0.36 0.37 0.41 0.29 0.30
Gilead Sciences Inc. 0.40 0.47 0.41 0.43 0.48
Merck & Co. Inc. 0.33 0.37 0.32 0.30 0.28
Moderna Inc. 0.04 0.03 0.09 0.02
Pfizer Inc. 0.23 0.27 0.32 0.26 0.25
Thermo Fisher Scientific Inc. 0.38 0.33 0.32 0.34 0.37
Zoetis Inc. 0.49 0.54 0.58 0.60 0.58
Debt to Assets (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.33 0.37 0.37 0.34 0.33
Debt to Assets (including Operating Lease Liability), Industry
Health Care 0.32 0.35 0.36 0.33 0.32

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 34,751 ÷ 182,018 = 0.19

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 debt to assets ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Financial Leverage

Johnson & Johnson, financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Total assets 182,018  174,894  157,728  152,954  157,303 
Shareholders’ equity 74,023  63,278  59,471  59,752  60,160 
Solvency Ratio
Financial leverage1 2.46 2.76 2.65 2.56 2.61
Benchmarks
Financial Leverage, Competitors2
AbbVie Inc. 9.51 11.51 13.89
Amgen Inc. 9.13 6.69 6.17 5.31 3.17
Eli Lilly & Co. 5.44 8.27 15.07 4.47 3.88
Gilead Sciences Inc. 3.23 3.76 2.74 2.98 3.44
Merck & Co. Inc. 2.77 3.62 3.26 3.09 2.56
Moderna Inc. 1.74 2.86 1.35 1.28
Pfizer Inc. 2.35 2.44 2.65 2.51 2.41
Regeneron Pharmaceuticals Inc. 1.36 1.56 1.34 1.34 1.43
Thermo Fisher Scientific Inc. 2.33 2.00 1.97 2.04 2.23
Zoetis Inc. 3.06 3.61 4.26 4.93 4.85
Financial Leverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 2.98 3.43 3.39 3.15 2.89
Financial Leverage, Industry
Health Care 2.81 3.02 2.98 2.89 2.76

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 182,018 ÷ 74,023 = 2.46

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 financial leverage ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.

Interest Coverage

Johnson & Johnson, interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net earnings 20,878  14,714  15,119  15,297  1,300 
Add: Income tax expense 1,898  1,783  2,209  2,702  16,373 
Add: Interest expense, net of portion capitalized 183  201  318  1,005  934 
Earnings before interest and tax (EBIT) 22,959  16,698  17,646  19,004  18,607 
Solvency Ratio
Interest coverage1 125.46 83.07 55.49 18.91 19.92
Benchmarks
Interest Coverage, Competitors2
AbbVie Inc. 6.36 2.38 5.72 4.86 7.72
Amgen Inc. 6.60 7.44 8.09 7.86 8.36
Eli Lilly & Co. 19.12 21.11 14.15 14.95 10.77
Gilead Sciences Inc. 9.27 2.70 6.19 8.24 13.10
Merck & Co. Inc. 18.22 11.58 13.84 12.27 9.65
Moderna Inc. 739.06 -74.31 -76.85 -123.16
Pfizer Inc. 19.83 6.17 12.23 10.03 10.69
Regeneron Pharmaceuticals Inc. 163.75 67.97 81.43 91.55 83.75
Thermo Fisher Scientific Inc. 17.49 14.07 7.02 5.89 5.10
Zoetis Inc. 12.11 9.64 9.08 9.20 9.71
Interest Coverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 16.98 8.81 11.04 9.91 11.01
Interest Coverage, Industry
Health Care 12.77 7.19 8.61 8.05 9.38

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= 22,959 ÷ 183 = 125.46

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 interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021.

Fixed Charge Coverage

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

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net earnings 20,878  14,714  15,119  15,297  1,300 
Add: Income tax expense 1,898  1,783  2,209  2,702  16,373 
Add: Interest expense, net of portion capitalized 183  201  318  1,005  934 
Earnings before interest and tax (EBIT) 22,959  16,698  17,646  19,004  18,607 
Add: Operating lease costs 300  300  307  332  372 
Earnings before fixed charges and tax 23,259  16,998  17,953  19,336  18,979 
 
Interest expense, net of portion capitalized 183  201  318  1,005  934 
Operating lease costs 300  300  307  332  372 
Fixed charges 483  501  625  1,337  1,306 
Solvency Ratio
Fixed charge coverage1 48.16 33.93 28.72 14.46 14.53
Benchmarks
Fixed Charge Coverage, Competitors2
AbbVie Inc. 5.90 2.28 5.42 4.44 6.86
Amgen Inc. 5.67 6.48 7.12 7.13 7.56
Eli Lilly & Co. 13.33 15.06 10.18 8.66 5.89
Gilead Sciences Inc. 8.15 2.45 5.46 7.58 12.26
Merck & Co. Inc. 13.08 8.47 10.31 8.95 7.03
Moderna Inc. 317.31 -26.75 -20.79 -8.26
Pfizer Inc. 14.22 4.98 9.88 8.34 8.76
Thermo Fisher Scientific Inc. 12.19 10.30 5.61 4.72 4.07
Zoetis Inc. 10.08 8.21 7.85 7.73 8.55
Fixed Charge Coverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 13.44 7.24 9.08 8.20 9.02
Fixed Charge Coverage, Industry
Health Care 9.00 5.32 6.42 6.17 6.96

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 23,259 ÷ 483 = 48.16

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 fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021.