Stock Analysis on Net
Stock Analysis on Net

Thermo Fisher Scientific Inc. (NYSE:TMO)

Analysis of Solvency Ratios
Quarterly Data

Beginner level


Solvency Ratios (Summary)

Thermo Fisher Scientific Inc., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 31, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Debt Ratios
Debt to equity 0.71 0.70 0.60 0.58 0.66 0.66 0.69 0.70 0.73 0.80 0.83 0.89 0.75 0.78 0.77 0.87 0.67 0.72 0.59 0.64 0.68 0.75
Debt to capital 0.42 0.41 0.37 0.37 0.40 0.40 0.41 0.41 0.42 0.44 0.45 0.47 0.43 0.44 0.44 0.47 0.40 0.42 0.37 0.39 0.40 0.43
Debt to assets 0.35 0.34 0.30 0.30 0.33 0.33 0.34 0.34 0.35 0.37 0.37 0.39 0.36 0.37 0.36 0.39 0.33 0.35 0.31 0.32 0.34 0.35
Financial leverage 2.06 2.05 1.97 1.93 2.02 2.01 2.04 2.05 2.10 2.17 2.23 2.27 2.08 2.12 2.13 2.22 1.99 2.05 1.92 1.97 2.02 2.10
Coverage Ratios
Interest coverage 15.98 33.39

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-01), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Thermo Fisher Scientific Inc.’s debt to equity ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Thermo Fisher Scientific Inc.’s debt to capital ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Thermo Fisher Scientific Inc.’s debt to assets ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Thermo Fisher Scientific Inc.’s financial leverage ratio increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Thermo Fisher Scientific Inc.’s interest coverage ratio improved from Q4 2019 to Q1 2020 but then slightly deteriorated from Q1 2020 to Q2 2020 not reaching Q4 2019 level.

Debt to Equity

Thermo Fisher Scientific Inc., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 31, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Selected Financial Data (US$ in millions)
Short-term obligations and current maturities of long-term obligations 675  738  676  661  2,377  1,336  1,271  1,014  1,711  2,814  2,135  2,762  1,540  1,882  1,256  1,972  2,516  3,383  1,053  3,034  3,360  4,161 
Long-term obligations, excluding current maturities 20,638  19,231  17,076  16,392  16,663  16,812  17,719  17,760  17,709  18,122  18,873  19,230  15,256  15,188  15,372  16,940  11,632  11,653  11,474  10,278  10,664  10,696 
Total debt 21,313  19,969  17,752  17,053  19,040  18,148  18,990  18,774  19,420  20,936  21,008  21,993  16,796  17,071  16,628  18,913  14,148  15,036  12,527  13,312  14,024  14,857 
 
Shareholders’ equity 29,875  28,559  29,675  29,355  28,729  27,693  27,586  26,890  26,445  26,123  25,413  24,702  22,392  21,795  21,539  21,659  21,264  20,924  21,350  20,850  20,680  19,915 
Solvency Ratio
Debt to equity1 0.71 0.70 0.60 0.58 0.66 0.66 0.69 0.70 0.73 0.80 0.83 0.89 0.75 0.78 0.77 0.87 0.67 0.72 0.59 0.64 0.68 0.75
Benchmarks
Debt to Equity, Competitors2
Becton, Dickinson & Co. 1.01 0.92 0.92 0.94 0.97 0.98 1.02 1.04 1.08 1.07 1.46 1.51 1.29 1.45 1.51 1.48 1.63 1.77 1.79 1.82 1.93 2.00
Boston Scientific Corp. 0.61 0.75 0.72 1.12 1.01 1.00 0.81 0.80 0.84 0.82 0.80 0.75 0.81 0.78 0.81 0.84 0.87 0.88 0.90 0.91 0.78 0.66
Danaher Corp. 0.62 0.84 0.72 0.54 0.32 0.30 0.35 0.38 0.42 0.39 0.40 0.43 0.47 0.50 0.53 0.36 0.59 0.51 0.54 0.65 0.13 0.14
Intuitive Surgical 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 0.00 0.00 0.00
Medtronic PLC 0.51 0.52 0.51 0.50 0.50 0.50 0.51 0.57 0.56 0.67 0.66 0.65 0.65 0.63 0.60 0.71 0.69 0.67 0.68 1.43 0.70 0.67
Stryker Corp. 1.01 0.80 0.87 0.68 0.71 0.72 0.84 0.73 0.76 0.86 0.72 0.69 0.73 0.74 0.72 0.73 0.84 0.85 0.47 0.41 0.41 0.42
UnitedHealth Group Inc. 0.72 0.91 0.71 0.82 0.80 0.74 0.71 0.67 0.73 0.75 0.66 0.65 0.74 0.81 0.86 0.88 0.91 0.96 0.95 0.96 0.55 0.58

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-01), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q2 2020 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 21,313 ÷ 29,875 = 0.71

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. Thermo Fisher Scientific Inc.’s debt to equity ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Debt to Capital

Thermo Fisher Scientific Inc., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 31, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Selected Financial Data (US$ in millions)
Short-term obligations and current maturities of long-term obligations 675  738  676  661  2,377  1,336  1,271  1,014  1,711  2,814  2,135  2,762  1,540  1,882  1,256  1,972  2,516  3,383  1,053  3,034  3,360  4,161 
Long-term obligations, excluding current maturities 20,638  19,231  17,076  16,392  16,663  16,812  17,719  17,760  17,709  18,122  18,873  19,230  15,256  15,188  15,372  16,940  11,632  11,653  11,474  10,278  10,664  10,696 
Total debt 21,313  19,969  17,752  17,053  19,040  18,148  18,990  18,774  19,420  20,936  21,008  21,993  16,796  17,071  16,628  18,913  14,148  15,036  12,527  13,312  14,024  14,857 
Shareholders’ equity 29,875  28,559  29,675  29,355  28,729  27,693  27,586  26,890  26,445  26,123  25,413  24,702  22,392  21,795  21,539  21,659  21,264  20,924  21,350  20,850  20,680  19,915 
Total capital 51,188  48,528  47,427  46,408  47,769  45,841  46,576  45,664  45,865  47,059  46,421  46,695  39,188  38,866  38,167  40,571  35,412  35,960  33,877  34,162  34,703  34,772 
Solvency Ratio
Debt to capital1 0.42 0.41 0.37 0.37 0.40 0.40 0.41 0.41 0.42 0.44 0.45 0.47 0.43 0.44 0.44 0.47 0.40 0.42 0.37 0.39 0.40 0.43
Benchmarks
Debt to Capital, Competitors2
Becton, Dickinson & Co. 0.50 0.48 0.48 0.48 0.49 0.50 0.51 0.51 0.52 0.52 0.59 0.60 0.56 0.59 0.60 0.60 0.62 0.64 0.64 0.64 0.66 0.67
Boston Scientific Corp. 0.38 0.43 0.42 0.53 0.50 0.50 0.45 0.44 0.46 0.45 0.44 0.43 0.45 0.44 0.45 0.46 0.47 0.47 0.47 0.48 0.44 0.40
Danaher Corp. 0.38 0.46 0.42 0.35 0.24 0.23 0.26 0.28 0.29 0.28 0.29 0.30 0.32 0.33 0.35 0.26 0.37 0.34 0.35 0.39 0.12 0.12
Intuitive Surgical 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 0.00 0.00 0.00
Medtronic PLC 0.34 0.34 0.34 0.33 0.34 0.33 0.34 0.36 0.36 0.40 0.40 0.39 0.39 0.39 0.38 0.41 0.41 0.40 0.40 0.59 0.41 0.40
Stryker Corp. 0.50 0.44 0.46 0.41 0.42 0.42 0.46 0.42 0.43 0.46 0.42 0.41 0.42 0.43 0.42 0.42 0.46 0.46 0.32 0.29 0.29 0.30
UnitedHealth Group Inc. 0.42 0.48 0.41 0.45 0.44 0.43 0.41 0.40 0.42 0.43 0.40 0.39 0.43 0.45 0.46 0.47 0.48 0.49 0.49 0.49 0.35 0.37

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-01), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q2 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 21,313 ÷ 51,188 = 0.42

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. Thermo Fisher Scientific Inc.’s debt to capital ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Debt to Assets

Thermo Fisher Scientific Inc., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 31, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Selected Financial Data (US$ in millions)
Short-term obligations and current maturities of long-term obligations 675  738  676  661  2,377  1,336  1,271  1,014  1,711  2,814  2,135  2,762  1,540  1,882  1,256  1,972  2,516  3,383  1,053  3,034  3,360  4,161 
Long-term obligations, excluding current maturities 20,638  19,231  17,076  16,392  16,663  16,812  17,719  17,760  17,709  18,122  18,873  19,230  15,256  15,188  15,372  16,940  11,632  11,653  11,474  10,278  10,664  10,696 
Total debt 21,313  19,969  17,752  17,053  19,040  18,148  18,990  18,774  19,420  20,936  21,008  21,993  16,796  17,071  16,628  18,913  14,148  15,036  12,527  13,312  14,024  14,857 
 
Total assets 61,593  58,688  58,381  56,729  57,970  55,596  56,232  55,078  55,403  56,580  56,669  55,985  46,514  46,214  45,908  48,011  42,253  42,953  40,889  41,147  41,774  41,857 
Solvency Ratio
Debt to assets1 0.35 0.34 0.30 0.30 0.33 0.33 0.34 0.34 0.35 0.37 0.37 0.39 0.36 0.37 0.36 0.39 0.33 0.35 0.31 0.32 0.34 0.35
Benchmarks
Debt to Assets, Competitors2
Becton, Dickinson & Co. 0.40 0.37 0.37 0.39 0.39 0.40 0.40 0.41 0.42 0.41 0.50 0.51 0.43 0.45 0.45 0.46 0.48 0.49 0.48 0.49 0.49 0.55
Boston Scientific Corp. 0.31 0.34 0.33 0.41 0.39 0.39 0.34 0.33 0.33 0.30 0.29 0.30 0.32 0.31 0.30 0.31 0.30 0.32 0.31 0.32 0.30 0.26
Danaher Corp. 0.31 0.38 0.35 0.29 0.19 0.18 0.20 0.22 0.24 0.22 0.23 0.24 0.25 0.26 0.27 0.20 0.28 0.26 0.27 0.30 0.09 0.09
Intuitive Surgical 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 0.00 0.00 0.00
Medtronic PLC 0.28 0.29 0.28 0.28 0.28 0.28 0.28 0.30 0.31 0.34 0.34 0.33 0.33 0.33 0.31 0.35 0.34 0.34 0.34 0.52 0.35 0.34
Stryker Corp. 0.41 0.36 0.37 0.32 0.32 0.33 0.36 0.33 0.33 0.36 0.33 0.34 0.35 0.35 0.34 0.34 0.37 0.38 0.25 0.22 0.21 0.21
UnitedHealth Group Inc. 0.24 0.27 0.23 0.26 0.25 0.24 0.24 0.22 0.23 0.23 0.23 0.21 0.23 0.25 0.27 0.27 0.28 0.29 0.29 0.29 0.20 0.20

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-01), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q2 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 21,313 ÷ 61,593 = 0.35

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. Thermo Fisher Scientific Inc.’s debt to assets ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Financial Leverage

Thermo Fisher Scientific Inc., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 31, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Selected Financial Data (US$ in millions)
Total assets 61,593  58,688  58,381  56,729  57,970  55,596  56,232  55,078  55,403  56,580  56,669  55,985  46,514  46,214  45,908  48,011  42,253  42,953  40,889  41,147  41,774  41,857 
Shareholders’ equity 29,875  28,559  29,675  29,355  28,729  27,693  27,586  26,890  26,445  26,123  25,413  24,702  22,392  21,795  21,539  21,659  21,264  20,924  21,350  20,850  20,680  19,915 
Solvency Ratio
Financial leverage1 2.06 2.05 1.97 1.93 2.02 2.01 2.04 2.05 2.10 2.17 2.23 2.27 2.08 2.12 2.13 2.22 1.99 2.05 1.92 1.97 2.02 2.10
Benchmarks
Financial Leverage, Competitors2
Becton, Dickinson & Co. 2.55 2.45 2.46 2.43 2.47 2.47 2.57 2.53 2.58 2.61 2.91 2.95 3.03 3.21 3.35 3.24 3.42 3.61 3.74 3.73 3.95 3.65
Boston Scientific Corp. 1.97 2.18 2.20 2.76 2.58 2.58 2.41 2.46 2.53 2.73 2.72 2.46 2.54 2.54 2.69 2.73 2.87 2.74 2.87 2.84 2.60 2.53
Danaher Corp. 1.97 2.22 2.05 1.89 1.66 1.64 1.70 1.72 1.77 1.73 1.77 1.81 1.86 1.90 1.97 1.78 2.06 1.97 2.04 2.15 1.53 1.55
Intuitive Surgical Inc. 1.16 1.16 1.18 1.18 1.17 1.17 1.17 1.17 1.17 1.17 1.22 1.14 1.16 1.16 1.12 1.11 1.12 1.12 1.14 1.14 1.15 1.15
Medtronic PLC 1.80 1.81 1.79 1.78 1.78 1.79 1.80 1.91 1.84 1.98 1.98 1.98 1.96 1.94 1.92 2.02 2.01 1.98 2.00 2.74 2.00 1.95
Stryker Corp. 2.47 2.24 2.36 2.16 2.21 2.22 2.32 2.24 2.28 2.40 2.23 2.06 2.12 2.11 2.14 2.16 2.26 2.23 1.91 1.88 1.98 1.99
UnitedHealth Group Inc. 3.03 3.32 3.02 3.16 3.15 3.12 2.94 3.02 3.20 3.27 2.91 3.10 3.20 3.27 3.21 3.28 3.29 3.35 3.29 3.27 2.77 2.81

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-01), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q2 2020 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 61,593 ÷ 29,875 = 2.06

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. Thermo Fisher Scientific Inc.’s financial leverage ratio increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Interest Coverage

Thermo Fisher Scientific Inc., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 31, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Selected Financial Data (US$ in millions)
Net income 1,156  788  1,002  760  1,119  815  898  709  752  579  528  534  612  551  630  474  517  402  603  476  512  385 
Less: Loss from discontinued operations, net of income tax —  —  —  —  —  —  —  —  —  —  (2) —  (1) —  (3) —  —  —  (4) (1) —  — 
Add: Income tax expense 97  40  36  62  274  114  101  54  55  289  (53) 13  (49) 19  (46) 21  (24) (9) (8) (3)
Add: Interest expense 137  126  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Earnings before interest and tax (EBIT) 1,390  954  1,038  822  1,393  817  1,012  810  806  634  820  481  626  503  652  428  521  423  583  468  504  382 
Solvency Ratio
Interest coverage1 15.98 33.39
Benchmarks
Interest Coverage, Competitors2
Becton, Dickinson & Co. 2.86 2.42 2.84 3.34 3.52 3.48 2.66 2.59 1.05 1.67 2.87 2.43 4.98 4.89 3.77 4.20 3.18 2.84 2.99 4.02 6.57 9.18
Boston Scientific Corp. 0.84 1.56 2.45 3.76 5.22 6.38 6.90 6.81 6.20 5.08 5.07 4.47 4.23 2.10 1.76 -0.06 -2.70 -0.31 -1.29
Danaher Corp. 20.00 25.33 31.44 34.20 29.52 24.77 21.92 21.12 20.86 19.99 19.06 18.34 16.31 15.04 15.16 14.42 15.68 19.13 21.42
Medtronic PLC 3.84 3.76 4.60 6.40 5.94 6.14 5.95 5.81 5.77 5.34 5.21 4.35 4.49 4.24 4.13 3.81 4.08 4.82 6.23
UnitedHealth Group Inc. 13.89 11.40 11.55 11.63 12.08 12.32 12.39 12.61 12.80 12.86 12.82 12.58 12.41 12.27 12.12 11.53 11.43 12.62 13.95

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-01), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q2 2020 Calculation
Interest coverage = (EBITQ2 2020 + EBITQ1 2020 + EBITQ4 2019 + EBITQ3 2019) ÷ (Interest expenseQ2 2020 + Interest expenseQ1 2020 + Interest expenseQ4 2019 + Interest expenseQ3 2019)
= (1,390 + 954 + 1,038 + 822) ÷ (137 + 126 + 0 + 0) = 15.98

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. Thermo Fisher Scientific Inc.’s interest coverage ratio improved from Q4 2019 to Q1 2020 but then slightly deteriorated from Q1 2020 to Q2 2020 not reaching Q4 2019 level.