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Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.
Solvency Ratios (Summary)
UnitedHealth Group Inc., solvency ratios (quarterly data)
Based on: 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).
Solvency ratio | Description | The company |
---|---|---|
Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | UnitedHealth Group Inc.’s debt to equity ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | UnitedHealth Group Inc.’s debt to capital ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | UnitedHealth Group Inc.’s debt to assets ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | UnitedHealth Group Inc.’s financial leverage ratio decreased from Q2 2020 to Q3 2020 but then increased from Q3 2020 to Q4 2020 not reaching Q2 2020 level. |
Solvency ratio | Description | The company |
---|---|---|
Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | UnitedHealth Group Inc.’s interest coverage ratio improved from Q2 2020 to Q3 2020 but then deteriorated significantly from Q3 2020 to Q4 2020. |
Debt to Equity
UnitedHealth Group Inc., debt to equity calculation (quarterly data)
Dec 31, 2020 | 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 | |||||||
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Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Short-term borrowings and current maturities of long-term debt | ||||||||||||||||||||||||||
Long-term debt, less current maturities | ||||||||||||||||||||||||||
Total debt | ||||||||||||||||||||||||||
Shareholders’ equity attributable to UnitedHealth Group | ||||||||||||||||||||||||||
Solvency Ratio | ||||||||||||||||||||||||||
Debt to equity1 | ||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||
Debt to Equity, Competitors2 | ||||||||||||||||||||||||||
Becton, Dickinson & Co. | ||||||||||||||||||||||||||
Boston Scientific Corp. | ||||||||||||||||||||||||||
Danaher Corp. | ||||||||||||||||||||||||||
Edwards Lifesciences Corp. | ||||||||||||||||||||||||||
Intuitive Surgical Inc. | ||||||||||||||||||||||||||
Medtronic PLC | ||||||||||||||||||||||||||
Stryker Corp. | ||||||||||||||||||||||||||
Thermo Fisher Scientific Inc. |
Based on: 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity attributable to UnitedHealth Group
= ÷ =
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. | UnitedHealth Group Inc.’s debt to equity ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Debt to Capital
UnitedHealth Group Inc., debt to capital calculation (quarterly data)
Dec 31, 2020 | 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Short-term borrowings and current maturities of long-term debt | ||||||||||||||||||||||||||
Long-term debt, less current maturities | ||||||||||||||||||||||||||
Total debt | ||||||||||||||||||||||||||
Shareholders’ equity attributable to UnitedHealth Group | ||||||||||||||||||||||||||
Total capital | ||||||||||||||||||||||||||
Solvency Ratio | ||||||||||||||||||||||||||
Debt to capital1 | ||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||
Debt to Capital, Competitors2 | ||||||||||||||||||||||||||
Becton, Dickinson & Co. | ||||||||||||||||||||||||||
Boston Scientific Corp. | ||||||||||||||||||||||||||
Danaher Corp. | ||||||||||||||||||||||||||
Edwards Lifesciences Corp. | ||||||||||||||||||||||||||
Intuitive Surgical Inc. | ||||||||||||||||||||||||||
Medtronic PLC | ||||||||||||||||||||||||||
Stryker Corp. | ||||||||||||||||||||||||||
Thermo Fisher Scientific Inc. |
Based on: 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | UnitedHealth Group Inc.’s debt to capital ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Debt to Assets
UnitedHealth Group Inc., debt to assets calculation (quarterly data)
Dec 31, 2020 | 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Short-term borrowings and current maturities of long-term debt | ||||||||||||||||||||||||||
Long-term debt, less current maturities | ||||||||||||||||||||||||||
Total debt | ||||||||||||||||||||||||||
Total assets | ||||||||||||||||||||||||||
Solvency Ratio | ||||||||||||||||||||||||||
Debt to assets1 | ||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||
Debt to Assets, Competitors2 | ||||||||||||||||||||||||||
Becton, Dickinson & Co. | ||||||||||||||||||||||||||
Boston Scientific Corp. | ||||||||||||||||||||||||||
Danaher Corp. | ||||||||||||||||||||||||||
Edwards Lifesciences Corp. | ||||||||||||||||||||||||||
Intuitive Surgical Inc. | ||||||||||||||||||||||||||
Medtronic PLC | ||||||||||||||||||||||||||
Stryker Corp. | ||||||||||||||||||||||||||
Thermo Fisher Scientific Inc. |
Based on: 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | UnitedHealth Group Inc.’s debt to assets ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Financial Leverage
UnitedHealth Group Inc., financial leverage calculation (quarterly data)
Dec 31, 2020 | 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Total assets | ||||||||||||||||||||||||||
Shareholders’ equity attributable to UnitedHealth Group | ||||||||||||||||||||||||||
Solvency Ratio | ||||||||||||||||||||||||||
Financial leverage1 | ||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||
Financial Leverage, Competitors2 | ||||||||||||||||||||||||||
Becton, Dickinson & Co. | ||||||||||||||||||||||||||
Boston Scientific Corp. | ||||||||||||||||||||||||||
Danaher Corp. | ||||||||||||||||||||||||||
Edwards Lifesciences Corp. | ||||||||||||||||||||||||||
Intuitive Surgical Inc. | ||||||||||||||||||||||||||
Medtronic PLC | ||||||||||||||||||||||||||
Stryker Corp. | ||||||||||||||||||||||||||
Thermo Fisher Scientific Inc. |
Based on: 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity attributable to UnitedHealth Group
= ÷ =
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. | UnitedHealth Group Inc.’s financial leverage ratio decreased from Q2 2020 to Q3 2020 but then increased from Q3 2020 to Q4 2020 not reaching Q2 2020 level. |
Interest Coverage
UnitedHealth Group Inc., interest coverage calculation (quarterly data)
Dec 31, 2020 | 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 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Net earnings attributable to UnitedHealth Group common shareholders | ||||||||||||||||||||||||||
Add: Net income attributable to noncontrolling interest | ||||||||||||||||||||||||||
Add: Income tax expense | ||||||||||||||||||||||||||
Add: Interest expense | ||||||||||||||||||||||||||
Earnings before interest and tax (EBIT) | ||||||||||||||||||||||||||
Solvency Ratio | ||||||||||||||||||||||||||
Interest coverage1 | ||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||
Interest Coverage, Competitors2 | ||||||||||||||||||||||||||
Becton, Dickinson & Co. | ||||||||||||||||||||||||||
Boston Scientific Corp. | ||||||||||||||||||||||||||
Danaher Corp. | ||||||||||||||||||||||||||
Medtronic PLC | ||||||||||||||||||||||||||
Thermo Fisher Scientific Inc. |
Based on: 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Interest coverage
= (EBITQ4 2020
+ EBITQ3 2020
+ EBITQ2 2020
+ EBITQ1 2020)
÷ (Interest expenseQ4 2020
+ Interest expenseQ3 2020
+ Interest expenseQ2 2020
+ Interest expenseQ1 2020)
= ( + + + )
÷ ( + + + )
=
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. | UnitedHealth Group Inc.’s interest coverage ratio improved from Q2 2020 to Q3 2020 but then deteriorated significantly from Q3 2020 to Q4 2020. |