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)
Illumina Inc., solvency ratios
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Illumina Inc. debt to equity ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Illumina Inc. debt to equity ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Illumina Inc. debt to capital ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
| 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. | Illumina Inc. debt to capital ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Illumina Inc. debt to assets ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Illumina Inc. debt to assets ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Illumina Inc. financial leverage ratio decreased from 2018 to 2019 but then slightly increased from 2019 to 2020. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Illumina Inc. interest coverage ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Illumina Inc. fixed charge coverage ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |
Debt to Equity
Illumina Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | —) | —) | —) | 144) | 223) | |
| Long-term debt, current portion | 511) | —) | 1,107) | 10) | 1) | |
| Long-term debt, excluding current portion | 673) | 1,141) | 890) | 1,182) | 1,048) | |
| Total debt | 1,184) | 1,141) | 1,997) | 1,336) | 1,272) | |
| Total Illumina stockholders’ equity | 4,694) | 4,613) | 3,758) | 2,749) | 2,197) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.25 | 0.25 | 0.53 | 0.49 | 0.58 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| AbbVie Inc. | 6.58 | — | — | — | — | |
| Amgen Inc. | 3.51 | 3.09 | — | — | — | |
| Bristol-Myers Squibb Co. | 1.34 | 0.91 | — | — | — | |
| Danaher Corp. | 0.53 | 0.72 | — | — | — | |
| Eli Lilly & Co. | 2.94 | 5.88 | — | — | — | |
| Gilead Sciences Inc. | 1.73 | 1.09 | — | — | — | |
| Johnson & Johnson | 0.56 | 0.47 | — | — | — | |
| Merck & Co. Inc. | 1.26 | 1.02 | — | — | — | |
| Pfizer Inc. | 0.63 | 0.83 | — | — | — | |
| Regeneron Pharmaceuticals Inc. | 0.24 | 0.06 | — | — | — | |
| Thermo Fisher Scientific Inc. | 0.63 | 0.60 | — | — | — | |
| Debt to Equity, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 1.15 | 1.11 | — | — | — | |
| Debt to Equity, Industry | ||||||
| Health Care | 0.90 | 0.91 | — | — | — | |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Debt to equity = Total debt ÷ Total Illumina stockholders’ equity
= 1,184 ÷ 4,694 = 0.25
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. | Illumina Inc. debt to equity ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
Debt to Equity (including Operating Lease Liability)
Illumina Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | —) | —) | —) | 144) | 223) | |
| Long-term debt, current portion | 511) | —) | 1,107) | 10) | 1) | |
| Long-term debt, excluding current portion | 673) | 1,141) | 890) | 1,182) | 1,048) | |
| Total debt | 1,184) | 1,141) | 1,997) | 1,336) | 1,272) | |
| Operating lease liabilities, current portion | 51) | 45) | —) | —) | —) | |
| Operating lease liabilities, excluding current portion | 671) | 695) | —) | —) | —) | |
| Total debt (including operating lease liability) | 1,906) | 1,881) | 1,997) | 1,336) | 1,272) | |
| Total Illumina stockholders’ equity | 4,694) | 4,613) | 3,758) | 2,749) | 2,197) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.41 | 0.41 | 0.53 | 0.49 | 0.58 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| AbbVie Inc. | 6.66 | — | — | — | — | |
| Amgen Inc. | 3.55 | 3.15 | — | — | — | |
| Bristol-Myers Squibb Co. | 1.37 | 0.92 | — | — | — | |
| Danaher Corp. | 0.56 | 0.74 | — | — | — | |
| Eli Lilly & Co. | 3.06 | 6.11 | — | — | — | |
| Gilead Sciences Inc. | 1.76 | 1.12 | — | — | — | |
| Johnson & Johnson | 0.57 | 0.48 | — | — | — | |
| Merck & Co. Inc. | 1.32 | 1.06 | — | — | — | |
| Pfizer Inc. | 0.65 | 0.85 | — | — | — | |
| Regeneron Pharmaceuticals Inc. | 0.25 | 0.07 | — | — | — | |
| Thermo Fisher Scientific Inc. | 0.65 | 0.62 | — | — | — | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 1.18 | 1.13 | — | — | — | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.96 | 0.97 | — | — | — | |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Illumina stockholders’ equity
= 1,906 ÷ 4,694 = 0.41
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. | Illumina Inc. debt to equity ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
Debt to Capital
Illumina Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | —) | —) | —) | 144) | 223) | |
| Long-term debt, current portion | 511) | —) | 1,107) | 10) | 1) | |
| Long-term debt, excluding current portion | 673) | 1,141) | 890) | 1,182) | 1,048) | |
| Total debt | 1,184) | 1,141) | 1,997) | 1,336) | 1,272) | |
| Total Illumina stockholders’ equity | 4,694) | 4,613) | 3,758) | 2,749) | 2,197) | |
| Total capital | 5,878) | 5,754) | 5,755) | 4,085) | 3,469) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.20 | 0.20 | 0.35 | 0.33 | 0.37 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| AbbVie Inc. | 0.87 | 1.14 | — | — | — | |
| Amgen Inc. | 0.78 | 0.76 | — | — | — | |
| Bristol-Myers Squibb Co. | 0.57 | 0.48 | — | — | — | |
| Danaher Corp. | 0.35 | 0.42 | — | — | — | |
| Eli Lilly & Co. | 0.75 | 0.85 | — | — | — | |
| Gilead Sciences Inc. | 0.63 | 0.52 | — | — | — | |
| Johnson & Johnson | 0.36 | 0.32 | — | — | — | |
| Merck & Co. Inc. | 0.56 | 0.50 | — | — | — | |
| Pfizer Inc. | 0.39 | 0.45 | — | — | — | |
| Regeneron Pharmaceuticals Inc. | 0.20 | 0.06 | — | — | — | |
| Thermo Fisher Scientific Inc. | 0.39 | 0.37 | — | — | — | |
| Debt to Capital, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.54 | 0.53 | — | — | — | |
| Debt to Capital, Industry | ||||||
| Health Care | 0.47 | 0.48 | — | — | — | |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 1,184 ÷ 5,878 = 0.20
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. | Illumina Inc. debt to capital ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
Debt to Capital (including Operating Lease Liability)
Illumina Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | —) | —) | —) | 144) | 223) | |
| Long-term debt, current portion | 511) | —) | 1,107) | 10) | 1) | |
| Long-term debt, excluding current portion | 673) | 1,141) | 890) | 1,182) | 1,048) | |
| Total debt | 1,184) | 1,141) | 1,997) | 1,336) | 1,272) | |
| Operating lease liabilities, current portion | 51) | 45) | —) | —) | —) | |
| Operating lease liabilities, excluding current portion | 671) | 695) | —) | —) | —) | |
| Total debt (including operating lease liability) | 1,906) | 1,881) | 1,997) | 1,336) | 1,272) | |
| Total Illumina stockholders’ equity | 4,694) | 4,613) | 3,758) | 2,749) | 2,197) | |
| Total capital (including operating lease liability) | 6,600) | 6,494) | 5,755) | 4,085) | 3,469) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.29 | 0.29 | 0.35 | 0.33 | 0.37 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| AbbVie Inc. | 0.87 | 1.14 | — | — | — | |
| Amgen Inc. | 0.78 | 0.76 | — | — | — | |
| Bristol-Myers Squibb Co. | 0.58 | 0.48 | — | — | — | |
| Danaher Corp. | 0.36 | 0.43 | — | — | — | |
| Eli Lilly & Co. | 0.75 | 0.86 | — | — | — | |
| Gilead Sciences Inc. | 0.64 | 0.53 | — | — | — | |
| Johnson & Johnson | 0.36 | 0.33 | — | — | — | |
| Merck & Co. Inc. | 0.57 | 0.51 | — | — | — | |
| Pfizer Inc. | 0.39 | 0.46 | — | — | — | |
| Regeneron Pharmaceuticals Inc. | 0.20 | 0.07 | — | — | — | |
| Thermo Fisher Scientific Inc. | 0.40 | 0.38 | — | — | — | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.54 | 0.53 | — | — | — | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.49 | 0.49 | — | — | — | |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 1,906 ÷ 6,600 = 0.29
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. | Illumina Inc. debt to capital ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
Debt to Assets
Illumina Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | —) | —) | —) | 144) | 223) | |
| Long-term debt, current portion | 511) | —) | 1,107) | 10) | 1) | |
| Long-term debt, excluding current portion | 673) | 1,141) | 890) | 1,182) | 1,048) | |
| Total debt | 1,184) | 1,141) | 1,997) | 1,336) | 1,272) | |
| Total assets | 7,585) | 7,316) | 6,959) | 5,257) | 4,281) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.16 | 0.16 | 0.29 | 0.25 | 0.30 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| AbbVie Inc. | 0.57 | 0.75 | — | — | — | |
| Amgen Inc. | 0.52 | 0.50 | — | — | — | |
| Bristol-Myers Squibb Co. | 0.43 | 0.36 | — | — | — | |
| Danaher Corp. | 0.28 | 0.35 | — | — | — | |
| Eli Lilly & Co. | 0.36 | 0.39 | — | — | — | |
| Gilead Sciences Inc. | 0.46 | 0.40 | — | — | — | |
| Johnson & Johnson | 0.20 | 0.18 | — | — | — | |
| Merck & Co. Inc. | 0.35 | 0.31 | — | — | — | |
| Pfizer Inc. | 0.26 | 0.31 | — | — | — | |
| Regeneron Pharmaceuticals Inc. | 0.16 | 0.05 | — | — | — | |
| Thermo Fisher Scientific Inc. | 0.31 | 0.30 | — | — | — | |
| Debt to Assets, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.36 | 0.36 | — | — | — | |
| Debt to Assets, Industry | ||||||
| Health Care | 0.30 | 0.31 | — | — | — | |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 1,184 ÷ 7,585 = 0.16
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. | Illumina Inc. debt to assets ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
Debt to Assets (including Operating Lease Liability)
Illumina Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Build-to-suit lease liability | —) | —) | —) | 144) | 223) | |
| Long-term debt, current portion | 511) | —) | 1,107) | 10) | 1) | |
| Long-term debt, excluding current portion | 673) | 1,141) | 890) | 1,182) | 1,048) | |
| Total debt | 1,184) | 1,141) | 1,997) | 1,336) | 1,272) | |
| Operating lease liabilities, current portion | 51) | 45) | —) | —) | —) | |
| Operating lease liabilities, excluding current portion | 671) | 695) | —) | —) | —) | |
| Total debt (including operating lease liability) | 1,906) | 1,881) | 1,997) | 1,336) | 1,272) | |
| Total assets | 7,585) | 7,316) | 6,959) | 5,257) | 4,281) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.25 | 0.26 | 0.29 | 0.25 | 0.30 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| AbbVie Inc. | 0.58 | 0.75 | — | — | — | |
| Amgen Inc. | 0.53 | 0.51 | — | — | — | |
| Bristol-Myers Squibb Co. | 0.44 | 0.37 | — | — | — | |
| Danaher Corp. | 0.29 | 0.36 | — | — | — | |
| Eli Lilly & Co. | 0.37 | 0.41 | — | — | — | |
| Gilead Sciences Inc. | 0.47 | 0.41 | — | — | — | |
| Johnson & Johnson | 0.21 | 0.18 | — | — | — | |
| Merck & Co. Inc. | 0.37 | 0.32 | — | — | — | |
| Pfizer Inc. | 0.27 | 0.32 | — | — | — | |
| Regeneron Pharmaceuticals Inc. | 0.16 | 0.05 | — | — | — | |
| Thermo Fisher Scientific Inc. | 0.33 | 0.32 | — | — | — | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.37 | 0.37 | — | — | — | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.33 | 0.33 | — | — | — | |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 1,906 ÷ 7,585 = 0.25
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. | Illumina Inc. debt to assets ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020. |
Financial Leverage
Illumina Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Total assets | 7,585) | 7,316) | 6,959) | 5,257) | 4,281) | |
| Total Illumina stockholders’ equity | 4,694) | 4,613) | 3,758) | 2,749) | 2,197) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 1.62 | 1.59 | 1.85 | 1.91 | 1.95 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| AbbVie Inc. | 11.51 | — | — | — | — | |
| Amgen Inc. | 6.69 | 6.17 | — | — | — | |
| Bristol-Myers Squibb Co. | 3.13 | 2.52 | — | — | — | |
| Danaher Corp. | 1.92 | 2.05 | — | — | — | |
| Eli Lilly & Co. | 8.27 | 15.07 | — | — | — | |
| Gilead Sciences Inc. | 3.76 | 2.74 | — | — | — | |
| Johnson & Johnson | 2.76 | 2.65 | — | — | — | |
| Merck & Co. Inc. | 3.62 | 3.26 | — | — | — | |
| Pfizer Inc. | 2.44 | 2.65 | — | — | — | |
| Regeneron Pharmaceuticals Inc. | 1.56 | 1.34 | — | — | — | |
| Thermo Fisher Scientific Inc. | 2.00 | 1.97 | — | — | — | |
| Financial Leverage, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 3.21 | 3.10 | — | — | — | |
| Financial Leverage, Industry | ||||||
| Health Care | 2.95 | 2.93 | — | — | — | |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Financial leverage = Total assets ÷ Total Illumina stockholders’ equity
= 7,585 ÷ 4,694 = 1.62
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. | Illumina Inc. financial leverage ratio decreased from 2018 to 2019 but then slightly increased from 2019 to 2020. |
Interest Coverage
Illumina Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to Illumina stockholders | 656) | 1,002) | 826) | 726) | 463) | |
| Add: Net income attributable to noncontrolling interest | —) | (12) | (44) | (48) | (35) | |
| Add: Income tax expense | 200) | 128) | 112) | 365) | 133) | |
| Add: Interest expense | 49) | 52) | 57) | 37) | 33) | |
| Earnings before interest and tax (EBIT) | 905) | 1,170) | 951) | 1,080) | 594) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 18.47 | 22.50 | 16.68 | 29.19 | 17.91 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| AbbVie Inc. | 2.38 | 5.72 | — | — | — | |
| Amgen Inc. | 7.44 | 8.09 | — | — | — | |
| Bristol-Myers Squibb Co. | -3.84 | 8.58 | — | — | — | |
| Danaher Corp. | 17.35 | 31.44 | — | — | — | |
| Eli Lilly & Co. | 21.11 | 14.15 | — | — | — | |
| Gilead Sciences Inc. | 2.70 | 6.19 | — | — | — | |
| Johnson & Johnson | 83.07 | 55.49 | — | — | — | |
| Merck & Co. Inc. | 11.58 | 13.84 | — | — | — | |
| Pfizer Inc. | 6.17 | 12.23 | — | — | — | |
| Regeneron Pharmaceuticals Inc. | 67.97 | 81.43 | — | — | — | |
| Thermo Fisher Scientific Inc. | 14.07 | 7.02 | — | — | — | |
| Interest Coverage, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 7.28 | 11.23 | — | — | — | |
| Interest Coverage, Industry | ||||||
| Health Care | 7.72 | 8.87 | — | — | — | |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= 905 ÷ 49 = 18.47
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. | Illumina Inc. interest coverage ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level. |
Fixed Charge Coverage
Illumina Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to Illumina stockholders | 656) | 1,002) | 826) | 726) | 463) | |
| Add: Net income attributable to noncontrolling interest | —) | (12) | (44) | (48) | (35) | |
| Add: Income tax expense | 200) | 128) | 112) | 365) | 133) | |
| Add: Interest expense | 49) | 52) | 57) | 37) | 33) | |
| Earnings before interest and tax (EBIT) | 905) | 1,170) | 951) | 1,080) | 594) | |
| Add: Operating lease costs | 84) | 84) | 55) | 46) | 46) | |
| Earnings before fixed charges and tax | 989) | 1,254) | 1,006) | 1,126) | 640) | |
| Interest expense | 49) | 52) | 57) | 37) | 33) | |
| Operating lease costs | 84) | 84) | 55) | 46) | 46) | |
| Fixed charges | 133) | 136) | 112) | 83) | 79) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 7.44 | 9.22 | 8.98 | 13.57 | 8.11 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| AbbVie Inc. | 2.28 | 5.42 | — | — | — | |
| Amgen Inc. | 6.48 | 7.12 | — | — | — | |
| Bristol-Myers Squibb Co. | -3.08 | 7.10 | — | — | — | |
| Danaher Corp. | 7.10 | 8.38 | — | — | — | |
| Eli Lilly & Co. | 15.06 | 10.18 | — | — | — | |
| Gilead Sciences Inc. | 2.45 | 5.46 | — | — | — | |
| Johnson & Johnson | 33.93 | 28.72 | — | — | — | |
| Merck & Co. Inc. | 8.47 | 10.31 | — | — | — | |
| Pfizer Inc. | 4.98 | 9.88 | — | — | — | |
| Regeneron Pharmaceuticals Inc. | 57.70 | 60.98 | — | — | — | |
| Thermo Fisher Scientific Inc. | 10.30 | 5.61 | — | — | — | |
| Fixed Charge Coverage, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 5.90 | 8.99 | — | — | — | |
| Fixed Charge Coverage, Industry | ||||||
| Health Care | 5.70 | 6.61 | — | — | — | |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 989 ÷ 133 = 7.44
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. | Illumina Inc. fixed charge coverage ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |