Stock Analysis on Net
Stock Analysis on Net

Zoetis Inc. (NYSE:ZTS)

Analysis of Solvency Ratios
Quarterly Data

Beginner level

Solvency Ratios (Summary)

Zoetis Inc., 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 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Debt Ratios
Debt to equity 2.14 2.58 2.35 2.38 2.41 2.67 2.78 2.95 3.04 2.52 2.53 2.80 2.87 2.66 2.78 3.00 2.82 3.29 3.84 4.56 2.96 3.10 2.85
Debt to equity (including operating lease liability) 2.18 2.63 2.41 2.44 2.47 2.74 2.84 2.95 3.04 2.52 2.53 2.80 2.87 2.66 2.78 3.00 2.82 3.29 3.84 4.56 2.96 3.10 2.85
Debt to capital 0.68 0.72 0.70 0.70 0.71 0.73 0.74 0.75 0.75 0.72 0.72 0.74 0.74 0.73 0.74 0.75 0.74 0.77 0.79 0.82 0.75 0.76 0.74
Debt to capital (including operating lease liability) 0.69 0.72 0.71 0.71 0.71 0.73 0.74 0.75 0.75 0.72 0.72 0.74 0.74 0.73 0.74 0.75 0.74 0.77 0.79 0.82 0.75 0.76 0.74
Debt to assets 0.56 0.59 0.56 0.56 0.57 0.59 0.59 0.60 0.62 0.58 0.57 0.58 0.61 0.59 0.58 0.58 0.58 0.59 0.60 0.62 0.54 0.55 0.57
Debt to assets (including operating lease liability) 0.57 0.60 0.57 0.57 0.59 0.60 0.60 0.60 0.62 0.58 0.57 0.58 0.61 0.59 0.58 0.58 0.58 0.59 0.60 0.62 0.54 0.55 0.57
Financial leverage 3.81 4.38 4.19 4.26 4.21 4.56 4.70 4.93 4.94 4.37 4.43 4.85 4.67 4.55 4.75 5.14 4.87 5.54 6.40 7.41 5.44 5.61 5.03
Coverage Ratios
Interest coverage 9.79 9.72 9.71 9.08 8.88 8.46 8.69 9.20 9.64 10.12 9.87 9.71 8.99 8.60 8.52 8.40 7.54 7.66 5.65 5.40

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-16), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Zoetis Inc.’s debt to equity ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Zoetis Inc.’s debt to equity ratio (including operating lease liability) deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Zoetis Inc.’s debt to capital ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
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. Zoetis Inc.’s debt to capital ratio (including operating lease liability) deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Zoetis Inc.’s debt to assets ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 not reaching Q1 2020 level.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Zoetis Inc.’s debt to assets ratio (including operating lease liability) deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Zoetis Inc.’s financial leverage ratio increased from Q1 2020 to Q2 2020 but then decreased significantly from Q2 2020 to Q3 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Zoetis Inc.’s interest coverage ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Equity

Zoetis Inc., 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 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Selected Financial Data (US$ in millions)
Short-term borrowings —  —  —  —  —  —  —  —  —  —  100  —  —  — 
Current portion of long-term debt 1,100  500  500  500  —  —  —  —  —  —  —  —  750  750  750  —  —  —  —  400  400  400  400 
Long-term debt, net of discount and issuance costs, excluding current portion 6,595  7,194  5,963  5,947  6,447  6,446  6,444  6,443  6,441  4,955  4,954  4,953  4,952  3,719  3,718  4,468  4,467  4,465  4,464  4,463  3,226  3,243  3,243 
Total debt 7,696  7,695  6,463  6,447  6,447  6,446  6,444  6,452  6,441  4,955  4,954  4,953  5,702  4,569  4,468  4,468  4,467  4,469  4,468  4,868  3,634  3,647  3,645 
 
Total Zoetis Inc. equity 3,602  2,982  2,753  2,708  2,678  2,411  2,317  2,185  2,118  1,970  1,960  1,770  1,989  1,715  1,609  1,487  1,585  1,357  1,165  1,068  1,229  1,176  1,278 
Solvency Ratio
Debt to equity1 2.14 2.58 2.35 2.38 2.41 2.67 2.78 2.95 3.04 2.52 2.53 2.80 2.87 2.66 2.78 3.00 2.82 3.29 3.84 4.56 2.96 3.10 2.85
Benchmarks
Debt to Equity, Competitors2
Abbott Laboratories 0.59 0.64 0.60 0.58 0.60 0.61 0.62 0.64 0.77 0.68 0.70 0.90 0.75 0.76 0.76 1.07 0.41 0.43 0.41 0.42 0.40 0.38 0.41
AbbVie Inc. 5.70 5.94 10.49 7.33 5.65 6.20 7.39 7.95 5.77 6.71 6.87 8.03 6.61 5.65 11.09
Amgen Inc. 3.13 3.21 3.36 3.09 2.73 2.84 3.05 2.71 2.40 2.31 2.28 1.40 1.11 1.11 1.11 1.16 1.15 1.10 1.20 1.12 1.14 1.16 1.14
Biogen Inc. 0.69 0.66 0.48 0.45 0.43 0.46 0.43 0.46 0.43 0.48 0.42 0.47 0.51 0.56 0.57 0.54 0.54 0.57 0.63 0.70 0.62 0.05 0.05
Bristol-Myers Squibb Co. 0.90 0.95 0.94 0.91 1.41 1.56 0.40 0.52 0.54 0.60 0.60 0.68 0.57 0.56 0.59 0.41 0.44 0.45 0.47 0.47 0.48 0.49 0.48
Eli Lilly & Co. 3.51 3.99 5.60 5.88 4.50 5.68 6.44 1.30 0.97 1.06 0.81 1.18 0.90 0.87 0.73 0.74 0.60 0.64 0.54 0.55 0.53 0.55 0.55
Gilead Sciences Inc. 1.68 1.34 1.09 1.09 1.19 1.15 1.21 1.28 1.19 1.34 1.41 1.64 1.18 1.16 1.29 1.39 1.60 1.42 1.70 1.20 1.28 0.75 0.72
Illumina Inc. 0.25 0.25 0.25 0.25 0.25 0.26 0.44 0.53 0.57 0.42 0.45 0.49 0.46 0.48 0.49 0.58 0.54 0.50 0.51 0.59 0.57 0.73 0.80
Johnson & Johnson 0.59 0.48 0.45 0.47 0.50 0.48 0.50 0.51 0.48 0.51 0.51 0.57 0.48 0.48 0.46 0.39 0.37 0.36 0.32 0.28 0.28 0.27 0.28
Merck & Co. Inc. 0.98 1.12 1.07 1.02 0.97 0.96 0.94 0.94 0.73 0.72 0.70 0.71 0.71 0.63 0.71 0.62 0.57 0.56 0.59 0.59 0.58 0.57 0.63
Pfizer Inc. 0.97 0.99 0.80 0.83 0.81 0.78 0.77 0.66 0.58 0.58 0.56 0.61 0.72 0.75 0.75 0.71 0.70 0.70 0.62 0.60 0.58 0.53 0.53
Regeneron Pharmaceuticals Inc. 0.27 0.24 0.06 0.06 0.07 0.07 0.08 0.08 0.09 0.10 0.11 0.11 0.12 0.13 0.15 0.11 0.09 0.09 0.10 0.10 0.12 0.12 0.16
Vertex Pharmaceuticals Inc. 0.07 0.07 0.08 0.09 0.10 0.11 0.12 0.13 0.20 0.22 0.24 0.29 0.32 0.33 0.35 0.71 0.79 0.82 0.84 0.86 0.87 0.91 0.83

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-16), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Q3 2020 Calculation
Debt to equity = Total debt ÷ Total Zoetis Inc. equity
= 7,696 ÷ 3,602 = 2.14

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. Zoetis Inc.’s debt to equity ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Debt to Equity (including Operating Lease Liability)

Zoetis Inc., 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 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Selected Financial Data (US$ in millions)
Short-term borrowings —  —  —  —  —  —  —  —  —  —  100  —  —  — 
Current portion of long-term debt 1,100  500  500  500  —  —  —  —  —  —  —  —  750  750  750  —  —  —  —  400  400  400  400 
Long-term debt, net of discount and issuance costs, excluding current portion 6,595  7,194  5,963  5,947  6,447  6,446  6,444  6,443  6,441  4,955  4,954  4,953  4,952  3,719  3,718  4,468  4,467  4,465  4,464  4,463  3,226  3,243  3,243 
Total debt 7,696  7,695  6,463  6,447  6,447  6,446  6,444  6,452  6,441  4,955  4,954  4,953  5,702  4,569  4,468  4,468  4,467  4,469  4,468  4,868  3,634  3,647  3,645 
Noncurrent operating lease liabilities 167  155  159  164  169  169  134  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 7,863  7,850  6,622  6,611  6,616  6,615  6,578  6,452  6,441  4,955  4,954  4,953  5,702  4,569  4,468  4,468  4,467  4,469  4,468  4,868  3,634  3,647  3,645 
 
Total Zoetis Inc. equity 3,602  2,982  2,753  2,708  2,678  2,411  2,317  2,185  2,118  1,970  1,960  1,770  1,989  1,715  1,609  1,487  1,585  1,357  1,165  1,068  1,229  1,176  1,278 
Solvency Ratio
Debt to equity (including operating lease liability)1 2.18 2.63 2.41 2.44 2.47 2.74 2.84 2.95 3.04 2.52 2.53 2.80 2.87 2.66 2.78 3.00 2.82 3.29 3.84 4.56 2.96 3.10 2.85
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Biogen Inc. 0.73 0.69 0.51 0.48 0.45 0.49 0.46 0.46 0.43 0.48 0.42 0.47 0.51 0.56 0.57 0.54 0.54 0.57 0.63 0.70 0.62 0.05 0.05
Illumina Inc. 0.39 0.40 0.40 0.40 0.41 0.42 0.62 0.53 0.57 0.42 0.45 0.49 0.46 0.48 0.49 0.58 0.54 0.50 0.51 0.59 0.57 0.73 0.80

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-16), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Q3 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Zoetis Inc. equity
= 7,863 ÷ 3,602 = 2.18

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. Zoetis Inc.’s debt to equity ratio (including operating lease liability) deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Debt to Capital

Zoetis Inc., 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 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Selected Financial Data (US$ in millions)
Short-term borrowings —  —  —  —  —  —  —  —  —  —  100  —  —  — 
Current portion of long-term debt 1,100  500  500  500  —  —  —  —  —  —  —  —  750  750  750  —  —  —  —  400  400  400  400 
Long-term debt, net of discount and issuance costs, excluding current portion 6,595  7,194  5,963  5,947  6,447  6,446  6,444  6,443  6,441  4,955  4,954  4,953  4,952  3,719  3,718  4,468  4,467  4,465  4,464  4,463  3,226  3,243  3,243 
Total debt 7,696  7,695  6,463  6,447  6,447  6,446  6,444  6,452  6,441  4,955  4,954  4,953  5,702  4,569  4,468  4,468  4,467  4,469  4,468  4,868  3,634  3,647  3,645 
Total Zoetis Inc. equity 3,602  2,982  2,753  2,708  2,678  2,411  2,317  2,185  2,118  1,970  1,960  1,770  1,989  1,715  1,609  1,487  1,585  1,357  1,165  1,068  1,229  1,176  1,278 
Total capital 11,298  10,677  9,216  9,155  9,125  8,857  8,761  8,637  8,559  6,925  6,914  6,723  7,691  6,284  6,077  5,955  6,052  5,826  5,633  5,936  4,863  4,823  4,923 
Solvency Ratio
Debt to capital1 0.68 0.72 0.70 0.70 0.71 0.73 0.74 0.75 0.75 0.72 0.72 0.74 0.74 0.73 0.74 0.75 0.74 0.77 0.79 0.82 0.75 0.76 0.74
Benchmarks
Debt to Capital, Competitors2
Abbott Laboratories 0.37 0.39 0.38 0.37 0.38 0.38 0.38 0.39 0.43 0.40 0.41 0.47 0.43 0.43 0.43 0.52 0.29 0.30 0.29 0.30 0.28 0.28 0.29
AbbVie Inc. 0.85 0.86 1.12 1.14 1.27 1.30 1.27 1.27 1.08 1.10 0.91 0.88 0.85 0.86 0.88 0.89 0.85 0.87 0.87 0.89 0.87 0.85 0.92
Amgen Inc. 0.76 0.76 0.77 0.76 0.73 0.74 0.75 0.73 0.71 0.70 0.69 0.58 0.53 0.53 0.53 0.54 0.53 0.52 0.54 0.53 0.53 0.54 0.53
Biogen Inc. 0.41 0.40 0.32 0.31 0.30 0.31 0.30 0.31 0.30 0.33 0.30 0.32 0.34 0.36 0.36 0.35 0.35 0.36 0.39 0.41 0.38 0.04 0.05
Bristol-Myers Squibb Co. 0.47 0.49 0.48 0.48 0.59 0.61 0.28 0.34 0.35 0.37 0.38 0.40 0.36 0.36 0.37 0.29 0.30 0.31 0.32 0.32 0.33 0.33 0.32
Eli Lilly & Co. 0.78 0.80 0.85 0.85 0.82 0.85 0.87 0.57 0.49 0.51 0.45 0.54 0.47 0.47 0.42 0.42 0.37 0.39 0.35 0.35 0.35 0.35 0.36
Gilead Sciences Inc. 0.63 0.57 0.52 0.52 0.54 0.54 0.55 0.56 0.54 0.57 0.59 0.62 0.54 0.54 0.56 0.58 0.62 0.59 0.63 0.54 0.56 0.43 0.42
Illumina Inc. 0.20 0.20 0.20 0.20 0.20 0.21 0.30 0.35 0.36 0.30 0.31 0.33 0.31 0.32 0.33 0.37 0.35 0.33 0.34 0.37 0.36 0.42 0.44
Johnson & Johnson 0.37 0.33 0.31 0.32 0.33 0.33 0.33 0.34 0.33 0.34 0.34 0.37 0.32 0.32 0.32 0.28 0.27 0.27 0.24 0.22 0.22 0.21 0.22
Merck & Co. Inc. 0.50 0.53 0.52 0.50 0.49 0.49 0.48 0.48 0.42 0.42 0.41 0.42 0.41 0.39 0.42 0.38 0.36 0.36 0.37 0.37 0.37 0.36 0.39
Pfizer Inc. 0.49 0.50 0.45 0.45 0.45 0.44 0.43 0.40 0.37 0.37 0.36 0.38 0.42 0.43 0.43 0.41 0.41 0.41 0.38 0.38 0.37 0.34 0.35
Regeneron Pharmaceuticals Inc. 0.21 0.20 0.06 0.06 0.06 0.07 0.07 0.07 0.08 0.09 0.10 0.10 0.10 0.11 0.13 0.10 0.08 0.08 0.09 0.09 0.11 0.10 0.14
Vertex Pharmaceuticals Inc. 0.06 0.06 0.08 0.08 0.09 0.10 0.11 0.12 0.17 0.18 0.19 0.22 0.24 0.25 0.26 0.42 0.44 0.45 0.46 0.46 0.47 0.48 0.45

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-16), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Q3 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 7,696 ÷ 11,298 = 0.68

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. Zoetis Inc.’s debt to capital ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Debt to Capital (including Operating Lease Liability)

Zoetis Inc., 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 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Selected Financial Data (US$ in millions)
Short-term borrowings —  —  —  —  —  —  —  —  —  —  100  —  —  — 
Current portion of long-term debt 1,100  500  500  500  —  —  —  —  —  —  —  —  750  750  750  —  —  —  —  400  400  400  400 
Long-term debt, net of discount and issuance costs, excluding current portion 6,595  7,194  5,963  5,947  6,447  6,446  6,444  6,443  6,441  4,955  4,954  4,953  4,952  3,719  3,718  4,468  4,467  4,465  4,464  4,463  3,226  3,243  3,243 
Total debt 7,696  7,695  6,463  6,447  6,447  6,446  6,444  6,452  6,441  4,955  4,954  4,953  5,702  4,569  4,468  4,468  4,467  4,469  4,468  4,868  3,634  3,647  3,645 
Noncurrent operating lease liabilities 167  155  159  164  169  169  134  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 7,863  7,850  6,622  6,611  6,616  6,615  6,578  6,452  6,441  4,955  4,954  4,953  5,702  4,569  4,468  4,468  4,467  4,469  4,468  4,868  3,634  3,647  3,645 
Total Zoetis Inc. equity 3,602  2,982  2,753  2,708  2,678  2,411  2,317  2,185  2,118  1,970  1,960  1,770  1,989  1,715  1,609  1,487  1,585  1,357  1,165  1,068  1,229  1,176  1,278 
Total capital (including operating lease liability) 11,465  10,832  9,375  9,319  9,294  9,026  8,895  8,637  8,559  6,925  6,914  6,723  7,691  6,284  6,077  5,955  6,052  5,826  5,633  5,936  4,863  4,823  4,923 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.69 0.72 0.71 0.71 0.71 0.73 0.74 0.75 0.75 0.72 0.72 0.74 0.74 0.73 0.74 0.75 0.74 0.77 0.79 0.82 0.75 0.76 0.74
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Biogen Inc. 0.42 0.41 0.34 0.32 0.31 0.33 0.32 0.31 0.30 0.33 0.30 0.32 0.34 0.36 0.36 0.35 0.35 0.36 0.39 0.41 0.38 0.04 0.05
Illumina Inc. 0.28 0.29 0.28 0.28 0.29 0.30 0.38 0.35 0.36 0.30 0.31 0.33 0.31 0.32 0.33 0.37 0.35 0.33 0.34 0.37 0.36 0.42 0.44

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-16), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Q3 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 7,863 ÷ 11,465 = 0.69

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. Zoetis Inc.’s debt to capital ratio (including operating lease liability) deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Debt to Assets

Zoetis Inc., 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 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Selected Financial Data (US$ in millions)
Short-term borrowings —  —  —  —  —  —  —  —  —  —  100  —  —  — 
Current portion of long-term debt 1,100  500  500  500  —  —  —  —  —  —  —  —  750  750  750  —  —  —  —  400  400  400  400 
Long-term debt, net of discount and issuance costs, excluding current portion 6,595  7,194  5,963  5,947  6,447  6,446  6,444  6,443  6,441  4,955  4,954  4,953  4,952  3,719  3,718  4,468  4,467  4,465  4,464  4,463  3,226  3,243  3,243 
Total debt 7,696  7,695  6,463  6,447  6,447  6,446  6,444  6,452  6,441  4,955  4,954  4,953  5,702  4,569  4,468  4,468  4,467  4,469  4,468  4,868  3,634  3,647  3,645 
 
Total assets 13,725  13,069  11,528  11,545  11,272  10,986  10,883  10,777  10,459  8,603  8,690  8,586  9,288  7,802  7,649  7,649  7,715  7,518  7,453  7,913  6,686  6,598  6,430 
Solvency Ratio
Debt to assets1 0.56 0.59 0.56 0.56 0.57 0.59 0.59 0.60 0.62 0.58 0.57 0.58 0.61 0.59 0.58 0.58 0.58 0.59 0.60 0.62 0.54 0.55 0.57
Benchmarks
Debt to Assets, Competitors2
Abbott Laboratories 0.27 0.29 0.27 0.27 0.28 0.28 0.28 0.29 0.33 0.30 0.31 0.37 0.33 0.34 0.34 0.42 0.22 0.22 0.22 0.22 0.20 0.20 0.21
AbbVie Inc. 0.58 0.58 0.74 0.75 0.65 0.65 0.65 0.68 0.61 0.60 0.54 0.53 0.55 0.56 0.56 0.56 0.56 0.56 0.59 0.60 0.59 0.58 0.57
Amgen Inc. 0.53 0.53 0.52 0.50 0.50 0.52 0.52 0.51 0.51 0.51 0.50 0.44 0.45 0.44 0.44 0.45 0.45 0.44 0.46 0.44 0.44 0.45 0.44
Biogen Inc. 0.30 0.29 0.23 0.22 0.22 0.23 0.22 0.23 0.23 0.25 0.23 0.25 0.28 0.30 0.31 0.28 0.30 0.30 0.32 0.33 0.32 0.03 0.04
Bristol-Myers Squibb Co. 0.36 0.36 0.36 0.36 0.43 0.45 0.17 0.21 0.22 0.23 0.23 0.24 0.25 0.25 0.26 0.20 0.20 0.21 0.21 0.21 0.23 0.23 0.22
Eli Lilly & Co. 0.39 0.39 0.42 0.39 0.40 0.41 0.42 0.29 0.28 0.29 0.26 0.30 0.31 0.30 0.27 0.27 0.25 0.26 0.23 0.22 0.22 0.22 0.23
Gilead Sciences Inc. 0.48 0.43 0.40 0.40 0.42 0.41 0.42 0.43 0.42 0.44 0.44 0.48 0.45 0.44 0.46 0.46 0.48 0.44 0.48 0.43 0.44 0.31 0.32
Illumina Inc. 0.16 0.16 0.16 0.16 0.16 0.16 0.24 0.29 0.29 0.23 0.24 0.25 0.26 0.27 0.27 0.30 0.29 0.26 0.27 0.30 0.30 0.35 0.37
Johnson & Johnson 0.22 0.19 0.18 0.18 0.19 0.19 0.20 0.20 0.20 0.21 0.21 0.22 0.23 0.23 0.22 0.19 0.19 0.19 0.17 0.15 0.15 0.15 0.15
Merck & Co. Inc. 0.32 0.34 0.33 0.31 0.31 0.32 0.31 0.30 0.28 0.27 0.27 0.28 0.29 0.27 0.29 0.26 0.26 0.25 0.26 0.26 0.26 0.26 0.28
Pfizer Inc. 0.35 0.36 0.31 0.31 0.31 0.30 0.29 0.26 0.24 0.25 0.25 0.25 0.26 0.26 0.26 0.25 0.25 0.26 0.24 0.23 0.23 0.22 0.22
Regeneron Pharmaceuticals Inc. 0.17 0.15 0.05 0.05 0.05 0.05 0.06 0.06 0.07 0.07 0.08 0.08 0.08 0.09 0.09 0.07 0.06 0.06 0.06 0.06 0.08 0.09 0.11
Vertex Pharmaceuticals Inc. 0.05 0.05 0.06 0.06 0.07 0.08 0.09 0.09 0.12 0.13 0.15 0.16 0.18 0.17 0.18 0.28 0.31 0.32 0.32 0.32 0.33 0.34 0.38

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-16), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Q3 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 7,696 ÷ 13,725 = 0.56

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. Zoetis Inc.’s debt to assets ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 not reaching Q1 2020 level.

Debt to Assets (including Operating Lease Liability)

Zoetis Inc., 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 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Selected Financial Data (US$ in millions)
Short-term borrowings —  —  —  —  —  —  —  —  —  —  100  —  —  — 
Current portion of long-term debt 1,100  500  500  500  —  —  —  —  —  —  —  —  750  750  750  —  —  —  —  400  400  400  400 
Long-term debt, net of discount and issuance costs, excluding current portion 6,595  7,194  5,963  5,947  6,447  6,446  6,444  6,443  6,441  4,955  4,954  4,953  4,952  3,719  3,718  4,468  4,467  4,465  4,464  4,463  3,226  3,243  3,243 
Total debt 7,696  7,695  6,463  6,447  6,447  6,446  6,444  6,452  6,441  4,955  4,954  4,953  5,702  4,569  4,468  4,468  4,467  4,469  4,468  4,868  3,634  3,647  3,645 
Noncurrent operating lease liabilities 167  155  159  164  169  169  134  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 7,863  7,850  6,622  6,611  6,616  6,615  6,578  6,452  6,441  4,955  4,954  4,953  5,702  4,569  4,468  4,468  4,467  4,469  4,468  4,868  3,634  3,647  3,645 
 
Total assets 13,725  13,069  11,528  11,545  11,272  10,986  10,883  10,777  10,459  8,603  8,690  8,586  9,288  7,802  7,649  7,649  7,715  7,518  7,453  7,913  6,686  6,598  6,430 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.57 0.60 0.57 0.57 0.59 0.60 0.60 0.60 0.62 0.58 0.57 0.58 0.61 0.59 0.58 0.58 0.58 0.59 0.60 0.62 0.54 0.55 0.57
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Biogen Inc. 0.31 0.31 0.24 0.23 0.23 0.24 0.24 0.23 0.23 0.25 0.23 0.25 0.28 0.30 0.31 0.28 0.30 0.30 0.32 0.33 0.32 0.03 0.04
Illumina Inc. 0.25 0.25 0.25 0.25 0.26 0.26 0.33 0.29 0.29 0.23 0.24 0.25 0.26 0.27 0.27 0.30 0.29 0.26 0.27 0.30 0.30 0.35 0.37

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-16), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Q3 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 7,863 ÷ 13,725 = 0.57

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. Zoetis Inc.’s debt to assets ratio (including operating lease liability) deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Financial Leverage

Zoetis Inc., 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 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Selected Financial Data (US$ in millions)
Total assets 13,725  13,069  11,528  11,545  11,272  10,986  10,883  10,777  10,459  8,603  8,690  8,586  9,288  7,802  7,649  7,649  7,715  7,518  7,453  7,913  6,686  6,598  6,430 
Total Zoetis Inc. equity 3,602  2,982  2,753  2,708  2,678  2,411  2,317  2,185  2,118  1,970  1,960  1,770  1,989  1,715  1,609  1,487  1,585  1,357  1,165  1,068  1,229  1,176  1,278 
Solvency Ratio
Financial leverage1 3.81 4.38 4.19 4.26 4.21 4.56 4.70 4.93 4.94 4.37 4.43 4.85 4.67 4.55 4.75 5.14 4.87 5.54 6.40 7.41 5.44 5.61 5.03
Benchmarks
Financial Leverage, Competitors2
Abbott Laboratories 2.20 2.25 2.21 2.18 2.15 2.16 2.19 2.20 2.33 2.24 2.26 2.47 2.26 2.25 2.26 2.56 1.90 1.93 1.91 1.94 1.98 1.92 1.97
AbbVie Inc. 9.80 10.17 19.52 13.89 10.29 11.15 13.14 14.26 10.30 11.92 11.57 13.45 11.28 9.78 19.39
Amgen Inc. 5.90 6.10 6.50 6.17 5.45 5.50 5.91 5.31 4.69 4.54 4.56 3.17 2.49 2.51 2.54 2.60 2.54 2.50 2.62 2.55 2.57 2.59 2.60
Biogen Inc. 2.32 2.26 2.08 2.04 1.96 2.03 1.91 1.94 1.85 1.95 1.86 1.88 1.79 1.88 1.85 1.88 1.82 1.89 2.00 2.08 1.96 1.33 1.30
Bristol-Myers Squibb Co. 2.50 2.61 2.59 2.52 3.25 3.44 2.29 2.49 2.47 2.65 2.59 2.86 2.30 2.27 2.28 2.08 2.16 2.20 2.22 2.23 2.11 2.11 2.16
Eli Lilly & Co. 9.10 10.25 13.35 15.07 11.20 13.91 15.32 4.47 3.41 3.67 3.05 3.88 2.89 2.90 2.68 2.77 2.41 2.49 2.31 2.44 2.39 2.46 2.39
Gilead Sciences Inc. 3.49 3.10 2.71 2.74 2.87 2.79 2.86 2.98 2.81 3.02 3.18 3.44 2.60 2.66 2.82 3.02 3.36 3.22 3.57 2.80 2.91 2.40 2.23
Illumina Inc. 1.58 1.59 1.57 1.59 1.60 1.61 1.85 1.85 1.93 1.80 1.84 1.91 1.77 1.79 1.80 1.95 1.89 1.94 1.91 1.99 1.93 2.06 2.16
Johnson & Johnson 2.65 2.51 2.53 2.65 2.67 2.55 2.54 2.56 2.41 2.47 2.48 2.61 2.10 2.12 2.06 2.01 1.93 1.93 1.88 1.88 1.86 1.86 1.89
Merck & Co. Inc. 3.08 3.28 3.24 3.26 3.10 3.04 2.99 3.09 2.63 2.61 2.56 2.56 2.40 2.35 2.42 2.38 2.25 2.23 2.25 2.28 2.22 2.21 2.27
Pfizer Inc. 2.74 2.77 2.56 2.65 2.62 2.62 2.64 2.51 2.35 2.36 2.25 2.41 2.83 2.89 2.89 2.88 2.82 2.72 2.58 2.59 2.56 2.40 2.39
Regeneron Pharmaceuticals Inc. 1.59 1.59 1.30 1.34 1.33 1.35 1.36 1.34 1.37 1.38 1.43 1.43 1.44 1.47 1.61 1.57 1.52 1.52 1.57 1.53 1.57 1.36 1.41
Vertex Pharmaceuticals Inc. 1.39 1.36 1.38 1.37 1.43 1.39 1.39 1.41 1.59 1.61 1.65 1.75 1.79 1.97 1.96 2.50 2.55 2.60 2.60 2.66 2.64 2.65 2.22

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-16), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Q3 2020 Calculation
Financial leverage = Total assets ÷ Total Zoetis Inc. equity
= 13,725 ÷ 3,602 = 3.81

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. Zoetis Inc.’s financial leverage ratio increased from Q1 2020 to Q2 2020 but then decreased significantly from Q2 2020 to Q3 2020.

Interest Coverage

Zoetis Inc., 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 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Zoetis Inc. 479  377  423  384  433  371  312  345  347  384  352  81  298  247  238  154  239  224  204  22  189  (37) 165 
Add: Net income attributable to noncontrolling interest —  (1) —  —  —  —  —  —  —  (2) (2) (1) (2) —  —  (2) —  —  (2) — 
Add: Income tax expense 118  106  74  53  95  84  69  73  71  55  67  350  117  98  98  77  96  108  128  49  83  65 
Add: Interest expense, net of capitalized interest 62  58  53  56  56  55  56  59  54  46  47  50  43  41  41  41  41  41  43  38  29  29  28 
Earnings before interest and tax (EBIT) 659  540  550  493  584  510  437  477  472  483  464  480  456  386  378  272  374  373  375  107  302  258 
Solvency Ratio
Interest coverage1 9.79 9.72 9.71 9.08 8.88 8.46 8.69 9.20 9.64 10.12 9.87 9.71 8.99 8.60 8.52 8.40 7.54 7.66 5.65 5.40
Benchmarks
Interest Coverage, Competitors2
Abbott Laboratories 7.66 6.80 7.39 7.09 6.47 5.67 4.99 4.48 3.82 3.67 3.13 3.47 4.12 3.43 4.58 4.28 5.29 10.30 14.76 20.53
Amgen Inc. 7.62 7.62 7.85 8.09 7.97 7.63 7.61 7.86 7.98 8.35 8.41 8.36 8.44 8.46 8.25 8.27 8.23 8.30 8.35 8.29
Gilead Sciences Inc. 2.83 0.41 5.90 6.19 5.24 9.25 8.80 8.24 8.98 9.67 11.41 13.10 15.11 16.36 17.29 18.74 21.04 24.25 28.35 32.48
Illumina Inc. 19.80 21.05 23.15 22.50 18.34 16.69 15.85 16.68 19.94 20.81 20.03 29.19 28.79 29.69 30.05 17.91 18.67 15.73 14.19 14.84
Johnson & Johnson 96.82 81.36 81.56 55.49 34.61 29.04 20.98 18.91 17.95 18.54 18.77 19.92 24.03 25.69 27.08 28.28 28.40 29.56 33.95 35.78
Regeneron Pharmaceuticals Inc. 72.22 108.12 90.22 81.43 72.82 69.19 86.34 91.55 91.46 93.35 93.76 83.75 85.15 103.77 119.78 185.82 158.42 135.89 120.37 87.03
Vertex Pharmaceuticals Inc. 52.77 40.26 30.99 24.84 12.91 13.16 11.02 9.28 11.26 3.07 0.05 0.73 -0.65 4.75 3.80 0.17 -1.01 -1.63 -3.67 -5.62

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-14), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-16), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

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)
= (659 + 540 + 550 + 493) ÷ (62 + 58 + 53 + 56) = 9.79

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. Zoetis Inc.’s interest coverage ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.