Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Amazon.com Inc., solvency ratios
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Amazon.com Inc. debt to equity ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 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. | Amazon.com Inc. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Amazon.com Inc. debt to capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 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. | Amazon.com Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Amazon.com Inc. debt to assets ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Amazon.com Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Amazon.com Inc. financial leverage ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Amazon.com Inc. interest coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Amazon.com Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Debt to Equity
Amazon.com Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current portion of lease liabilities, finance leases | 2,032) | 4,397) | 8,083) | 10,374) | 9,884) | |
| Current portion of long-term debt | 8,494) | 2,999) | 1,491) | 1,155) | 1,305) | |
| Long-term lease liabilities, finance leases, excluding current portion | 10,077) | 11,386) | 15,670) | 18,060) | 17,095) | |
| Long-term debt, excluding current portion | 58,314) | 67,150) | 48,744) | 31,816) | 23,414) | |
| Total debt | 78,917) | 85,932) | 73,988) | 61,405) | 51,698) | |
| Stockholders’ equity | 201,875) | 146,043) | 138,245) | 93,404) | 62,060) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.39 | 0.59 | 0.54 | 0.66 | 0.83 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Home Depot Inc. | 27.65 | — | 11.29 | — | — | |
| Lowe’s Cos. Inc. | — | — | 15.16 | 9.79 | 4.45 | |
| TJX Cos. Inc. | 0.53 | 0.56 | 1.04 | 0.38 | 0.44 | |
| Debt to Equity, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 0.82 | 1.06 | 0.93 | 1.17 | 1.44 | |
| Debt to Equity, Industry | ||||||
| Consumer Discretionary | 1.37 | 1.54 | 1.52 | 2.37 | 2.78 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 78,917 ÷ 201,875 = 0.39
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. | Amazon.com Inc. debt to equity ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Debt to Equity (including Operating Lease Liability)
Amazon.com Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current portion of lease liabilities, finance leases | 2,032) | 4,397) | 8,083) | 10,374) | 9,884) | |
| Current portion of long-term debt | 8,494) | 2,999) | 1,491) | 1,155) | 1,305) | |
| Long-term lease liabilities, finance leases, excluding current portion | 10,077) | 11,386) | 15,670) | 18,060) | 17,095) | |
| Long-term debt, excluding current portion | 58,314) | 67,150) | 48,744) | 31,816) | 23,414) | |
| Total debt | 78,917) | 85,932) | 73,988) | 61,405) | 51,698) | |
| Current portion of lease liabilities, operating leases | 8,419) | 7,458) | 6,349) | 4,586) | 3,139) | |
| Long-term lease liabilities, operating leases, excluding current portion | 67,220) | 61,582) | 51,981) | 34,513) | 22,696) | |
| Total debt (including operating lease liability) | 154,556) | 154,972) | 132,318) | 100,504) | 77,533) | |
| Stockholders’ equity | 201,875) | 146,043) | 138,245) | 93,404) | 62,060) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.77 | 1.06 | 0.96 | 1.08 | 1.25 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Home Depot Inc. | 32.24 | — | 13.16 | — | — | |
| Lowe’s Cos. Inc. | — | — | 18.24 | 12.04 | 4.45 | |
| TJX Cos. Inc. | 2.00 | 2.08 | 2.66 | 1.93 | 0.44 | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Consumer Discretionary Distribution & Retail | 1.31 | 1.67 | 1.46 | 1.76 | 1.82 | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Consumer Discretionary | 1.72 | 1.94 | 1.90 | 2.84 | 3.08 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 154,556 ÷ 201,875 = 0.77
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. | Amazon.com Inc. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Debt to Capital
Amazon.com Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current portion of lease liabilities, finance leases | 2,032) | 4,397) | 8,083) | 10,374) | 9,884) | |
| Current portion of long-term debt | 8,494) | 2,999) | 1,491) | 1,155) | 1,305) | |
| Long-term lease liabilities, finance leases, excluding current portion | 10,077) | 11,386) | 15,670) | 18,060) | 17,095) | |
| Long-term debt, excluding current portion | 58,314) | 67,150) | 48,744) | 31,816) | 23,414) | |
| Total debt | 78,917) | 85,932) | 73,988) | 61,405) | 51,698) | |
| Stockholders’ equity | 201,875) | 146,043) | 138,245) | 93,404) | 62,060) | |
| Total capital | 280,792) | 231,975) | 212,233) | 154,809) | 113,758) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.28 | 0.37 | 0.35 | 0.40 | 0.45 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Home Depot Inc. | 0.97 | 1.04 | 0.92 | 1.11 | 1.07 | |
| Lowe’s Cos. Inc. | 1.72 | 1.24 | 0.94 | 0.91 | 0.82 | |
| TJX Cos. Inc. | 0.35 | 0.36 | 0.51 | 0.27 | 0.31 | |
| Debt to Capital, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 0.45 | 0.51 | 0.48 | 0.54 | 0.59 | |
| Debt to Capital, Industry | ||||||
| Consumer Discretionary | 0.58 | 0.61 | 0.60 | 0.70 | 0.74 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 78,917 ÷ 280,792 = 0.28
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. | Amazon.com Inc. debt to capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Debt to Capital (including Operating Lease Liability)
Amazon.com Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current portion of lease liabilities, finance leases | 2,032) | 4,397) | 8,083) | 10,374) | 9,884) | |
| Current portion of long-term debt | 8,494) | 2,999) | 1,491) | 1,155) | 1,305) | |
| Long-term lease liabilities, finance leases, excluding current portion | 10,077) | 11,386) | 15,670) | 18,060) | 17,095) | |
| Long-term debt, excluding current portion | 58,314) | 67,150) | 48,744) | 31,816) | 23,414) | |
| Total debt | 78,917) | 85,932) | 73,988) | 61,405) | 51,698) | |
| Current portion of lease liabilities, operating leases | 8,419) | 7,458) | 6,349) | 4,586) | 3,139) | |
| Long-term lease liabilities, operating leases, excluding current portion | 67,220) | 61,582) | 51,981) | 34,513) | 22,696) | |
| Total debt (including operating lease liability) | 154,556) | 154,972) | 132,318) | 100,504) | 77,533) | |
| Stockholders’ equity | 201,875) | 146,043) | 138,245) | 93,404) | 62,060) | |
| Total capital (including operating lease liability) | 356,431) | 301,015) | 270,563) | 193,908) | 139,593) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.43 | 0.51 | 0.49 | 0.52 | 0.56 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Home Depot Inc. | 0.97 | 1.04 | 0.93 | 1.09 | 1.07 | |
| Lowe’s Cos. Inc. | 1.60 | 1.20 | 0.95 | 0.92 | 0.82 | |
| TJX Cos. Inc. | 0.67 | 0.68 | 0.73 | 0.66 | 0.31 | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Consumer Discretionary Distribution & Retail | 0.57 | 0.63 | 0.59 | 0.64 | 0.65 | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Consumer Discretionary | 0.63 | 0.66 | 0.65 | 0.74 | 0.76 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 154,556 ÷ 356,431 = 0.43
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. | Amazon.com Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Debt to Assets
Amazon.com Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current portion of lease liabilities, finance leases | 2,032) | 4,397) | 8,083) | 10,374) | 9,884) | |
| Current portion of long-term debt | 8,494) | 2,999) | 1,491) | 1,155) | 1,305) | |
| Long-term lease liabilities, finance leases, excluding current portion | 10,077) | 11,386) | 15,670) | 18,060) | 17,095) | |
| Long-term debt, excluding current portion | 58,314) | 67,150) | 48,744) | 31,816) | 23,414) | |
| Total debt | 78,917) | 85,932) | 73,988) | 61,405) | 51,698) | |
| Total assets | 527,854) | 462,675) | 420,549) | 321,195) | 225,248) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.15 | 0.19 | 0.18 | 0.19 | 0.23 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Home Depot Inc. | 0.57 | 0.56 | 0.53 | 0.61 | 0.66 | |
| Lowe’s Cos. Inc. | 0.78 | 0.55 | 0.47 | 0.49 | 0.47 | |
| TJX Cos. Inc. | 0.12 | 0.12 | 0.20 | 0.09 | 0.16 | |
| Debt to Assets, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 0.24 | 0.25 | 0.24 | 0.26 | 0.31 | |
| Debt to Assets, Industry | ||||||
| Consumer Discretionary | 0.34 | 0.35 | 0.36 | 0.41 | 0.45 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 78,917 ÷ 527,854 = 0.15
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. | Amazon.com Inc. debt to assets ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Debt to Assets (including Operating Lease Liability)
Amazon.com Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current portion of lease liabilities, finance leases | 2,032) | 4,397) | 8,083) | 10,374) | 9,884) | |
| Current portion of long-term debt | 8,494) | 2,999) | 1,491) | 1,155) | 1,305) | |
| Long-term lease liabilities, finance leases, excluding current portion | 10,077) | 11,386) | 15,670) | 18,060) | 17,095) | |
| Long-term debt, excluding current portion | 58,314) | 67,150) | 48,744) | 31,816) | 23,414) | |
| Total debt | 78,917) | 85,932) | 73,988) | 61,405) | 51,698) | |
| Current portion of lease liabilities, operating leases | 8,419) | 7,458) | 6,349) | 4,586) | 3,139) | |
| Long-term lease liabilities, operating leases, excluding current portion | 67,220) | 61,582) | 51,981) | 34,513) | 22,696) | |
| Total debt (including operating lease liability) | 154,556) | 154,972) | 132,318) | 100,504) | 77,533) | |
| Total assets | 527,854) | 462,675) | 420,549) | 321,195) | 225,248) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.29 | 0.33 | 0.31 | 0.31 | 0.34 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Home Depot Inc. | 0.66 | 0.64 | 0.62 | 0.73 | 0.66 | |
| Lowe’s Cos. Inc. | 0.87 | 0.66 | 0.56 | 0.60 | 0.47 | |
| TJX Cos. Inc. | 0.45 | 0.44 | 0.50 | 0.47 | 0.16 | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Consumer Discretionary Distribution & Retail | 0.38 | 0.40 | 0.38 | 0.40 | 0.39 | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Consumer Discretionary | 0.43 | 0.44 | 0.45 | 0.50 | 0.50 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 154,556 ÷ 527,854 = 0.29
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. | Amazon.com Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Financial Leverage
Amazon.com Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Total assets | 527,854) | 462,675) | 420,549) | 321,195) | 225,248) | |
| Stockholders’ equity | 201,875) | 146,043) | 138,245) | 93,404) | 62,060) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 2.61 | 3.17 | 3.04 | 3.44 | 3.63 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Home Depot Inc. | 48.94 | — | 21.39 | — | — | |
| Lowe’s Cos. Inc. | — | — | 32.52 | 20.02 | 9.47 | |
| TJX Cos. Inc. | 4.45 | 4.74 | 5.28 | 4.06 | 2.84 | |
| Financial Leverage, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 3.46 | 4.18 | 3.82 | 4.44 | 4.62 | |
| Financial Leverage, Industry | ||||||
| Consumer Discretionary | 4.00 | 4.38 | 4.26 | 5.72 | 6.22 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 527,854 ÷ 201,875 = 2.61
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. | Amazon.com Inc. financial leverage ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
Interest Coverage
Amazon.com Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) | 30,425) | (2,722) | 33,364) | 21,331) | 11,588) | |
| Add: Income tax expense | 7,120) | (3,217) | 4,791) | 2,863) | 2,374) | |
| Add: Interest expense | 3,182) | 2,367) | 1,809) | 1,647) | 1,600) | |
| Earnings before interest and tax (EBIT) | 40,727) | (3,572) | 39,964) | 25,841) | 15,562) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 12.80 | -1.51 | 22.09 | 15.69 | 9.73 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Home Depot Inc. | 14.90 | 17.14 | 13.60 | 13.25 | 14.85 | |
| Lowe’s Cos. Inc. | 8.79 | 13.49 | 9.88 | 8.83 | 6.21 | |
| TJX Cos. Inc. | 56.19 | 37.80 | 1.46 | 75.57 | 65.36 | |
| Interest Coverage, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 13.19 | 7.64 | 15.91 | 14.50 | 11.71 | |
| Interest Coverage, Industry | ||||||
| Consumer Discretionary | 12.27 | 9.45 | 13.29 | 7.81 | 9.65 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 40,727 ÷ 3,182 = 12.80
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. | Amazon.com Inc. interest coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Fixed Charge Coverage
Amazon.com Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) | 30,425) | (2,722) | 33,364) | 21,331) | 11,588) | |
| Add: Income tax expense | 7,120) | (3,217) | 4,791) | 2,863) | 2,374) | |
| Add: Interest expense | 3,182) | 2,367) | 1,809) | 1,647) | 1,600) | |
| Earnings before interest and tax (EBIT) | 40,727) | (3,572) | 39,964) | 25,841) | 15,562) | |
| Add: Operating lease cost | 10,550) | 8,847) | 7,199) | 5,019) | 3,669) | |
| Earnings before fixed charges and tax | 51,277) | 5,275) | 47,163) | 30,860) | 19,231) | |
| Interest expense | 3,182) | 2,367) | 1,809) | 1,647) | 1,600) | |
| Operating lease cost | 10,550) | 8,847) | 7,199) | 5,019) | 3,669) | |
| Fixed charges | 13,732) | 11,214) | 9,008) | 6,666) | 5,269) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 3.73 | 0.47 | 5.24 | 4.63 | 3.65 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Home Depot Inc. | 9.07 | 9.94 | 8.97 | 8.26 | 7.80 | |
| Lowe’s Cos. Inc. | 5.77 | 8.02 | 6.05 | 5.04 | 3.68 | |
| TJX Cos. Inc. | 3.31 | 3.17 | 1.04 | 3.43 | 3.39 | |
| Fixed Charge Coverage, Sector | ||||||
| Consumer Discretionary Distribution & Retail | 4.61 | 2.82 | 5.29 | 5.11 | 4.46 | |
| Fixed Charge Coverage, Industry | ||||||
| Consumer Discretionary | 4.98 | 3.70 | 5.63 | 3.72 | 4.20 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 51,277 ÷ 13,732 = 3.73
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. | Amazon.com Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |