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)
Kraft Heinz Co., solvency ratios
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Kraft Heinz Co. debt to equity ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Kraft Heinz Co. debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Kraft Heinz Co. debt to capital ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
| 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. | Kraft Heinz Co. debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Kraft Heinz Co. debt to assets ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Kraft Heinz Co. debt to assets ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Kraft Heinz Co. financial leverage ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Kraft Heinz Co. interest coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Kraft Heinz Co. fixed charge coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
Debt to Equity
Kraft Heinz Co., debt to equity calculation, comparison to benchmarks
| Dec 28, 2019 | Dec 29, 2018 | Dec 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Commercial paper and other short-term debt | 6) | 21) | 460) | 645) | 4) | |
| Current portion of long-term debt | 1,022) | 377) | 2,743) | 2,046) | 79) | |
| Long-term debt, excluding current portion | 28,216) | 30,770) | 28,333) | 29,713) | 25,151) | |
| Total debt | 29,244) | 31,168) | 31,536) | 32,404) | 25,234) | |
| Shareholders’ equity | 51,623) | 51,657) | 66,034) | 57,358) | 57,685) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.57 | 0.60 | 0.48 | 0.56 | 0.44 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Altria Group Inc. | 4.51 | — | — | — | — | |
| Coca-Cola Co. | 2.25 | — | — | — | — | |
| PepsiCo Inc. | 2.17 | — | — | — | — | |
| Philip Morris International Inc. | — | — | — | — | — | |
| Debt to Equity, Sector | ||||||
| Food, Beverage & Tobacco | 4.71 | — | — | — | — | |
| Debt to Equity, Industry | ||||||
| Consumer Staples | 1.38 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 29,244 ÷ 51,623 = 0.57
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. | Kraft Heinz Co. debt to equity ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Debt to Equity (including Operating Lease Liability)
Kraft Heinz Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 28, 2019 | Dec 29, 2018 | Dec 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Commercial paper and other short-term debt | 6) | 21) | 460) | 645) | 4) | |
| Current portion of long-term debt | 1,022) | 377) | 2,743) | 2,046) | 79) | |
| Long-term debt, excluding current portion | 28,216) | 30,770) | 28,333) | 29,713) | 25,151) | |
| Total debt | 29,244) | 31,168) | 31,536) | 32,404) | 25,234) | |
| Lease liabilities, operating leases, current | 147) | —) | —) | —) | —) | |
| Lease liabilities, operating leases, non-current | 454) | —) | —) | —) | —) | |
| Total debt (including operating lease liability) | 29,845) | 31,168) | 31,536) | 32,404) | 25,234) | |
| Shareholders’ equity | 51,623) | 51,657) | 66,034) | 57,358) | 57,685) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.58 | 0.60 | 0.48 | 0.56 | 0.44 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Coca-Cola Co. | 2.33 | — | — | — | — | |
| PepsiCo Inc. | 2.27 | — | — | — | — | |
| Philip Morris International Inc. | — | — | — | — | — | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 4.84 | — | — | — | — | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 1.41 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 29,845 ÷ 51,623 = 0.58
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. | Kraft Heinz Co. debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Debt to Capital
Kraft Heinz Co., debt to capital calculation, comparison to benchmarks
| Dec 28, 2019 | Dec 29, 2018 | Dec 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Commercial paper and other short-term debt | 6) | 21) | 460) | 645) | 4) | |
| Current portion of long-term debt | 1,022) | 377) | 2,743) | 2,046) | 79) | |
| Long-term debt, excluding current portion | 28,216) | 30,770) | 28,333) | 29,713) | 25,151) | |
| Total debt | 29,244) | 31,168) | 31,536) | 32,404) | 25,234) | |
| Shareholders’ equity | 51,623) | 51,657) | 66,034) | 57,358) | 57,685) | |
| Total capital | 80,867) | 82,825) | 97,570) | 89,762) | 82,919) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.36 | 0.38 | 0.32 | 0.36 | 0.30 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Altria Group Inc. | 0.82 | — | — | — | — | |
| Coca-Cola Co. | 0.69 | — | — | — | — | |
| PepsiCo Inc. | 0.68 | — | — | — | — | |
| Philip Morris International Inc. | 1.59 | — | — | — | — | |
| Debt to Capital, Sector | ||||||
| Food, Beverage & Tobacco | 0.82 | — | — | — | — | |
| Debt to Capital, Industry | ||||||
| Consumer Staples | 0.58 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= 29,244 ÷ 80,867 = 0.36
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. | Kraft Heinz Co. debt to capital ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Debt to Capital (including Operating Lease Liability)
Kraft Heinz Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 28, 2019 | Dec 29, 2018 | Dec 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Commercial paper and other short-term debt | 6) | 21) | 460) | 645) | 4) | |
| Current portion of long-term debt | 1,022) | 377) | 2,743) | 2,046) | 79) | |
| Long-term debt, excluding current portion | 28,216) | 30,770) | 28,333) | 29,713) | 25,151) | |
| Total debt | 29,244) | 31,168) | 31,536) | 32,404) | 25,234) | |
| Lease liabilities, operating leases, current | 147) | —) | —) | —) | —) | |
| Lease liabilities, operating leases, non-current | 454) | —) | —) | —) | —) | |
| Total debt (including operating lease liability) | 29,845) | 31,168) | 31,536) | 32,404) | 25,234) | |
| Shareholders’ equity | 51,623) | 51,657) | 66,034) | 57,358) | 57,685) | |
| Total capital (including operating lease liability) | 81,468) | 82,825) | 97,570) | 89,762) | 82,919) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.37 | 0.38 | 0.32 | 0.36 | 0.30 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Coca-Cola Co. | 0.70 | — | — | — | — | |
| PepsiCo Inc. | 0.69 | — | — | — | — | |
| Philip Morris International Inc. | 1.57 | — | — | — | — | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 0.83 | — | — | — | — | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 0.59 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 29,845 ÷ 81,468 = 0.37
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. | Kraft Heinz Co. debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Debt to Assets
Kraft Heinz Co., debt to assets calculation, comparison to benchmarks
| Dec 28, 2019 | Dec 29, 2018 | Dec 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Commercial paper and other short-term debt | 6) | 21) | 460) | 645) | 4) | |
| Current portion of long-term debt | 1,022) | 377) | 2,743) | 2,046) | 79) | |
| Long-term debt, excluding current portion | 28,216) | 30,770) | 28,333) | 29,713) | 25,151) | |
| Total debt | 29,244) | 31,168) | 31,536) | 32,404) | 25,234) | |
| Total assets | 101,450) | 103,461) | 120,232) | 120,480) | 122,973) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.29 | 0.30 | 0.26 | 0.27 | 0.21 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Altria Group Inc. | 0.57 | — | — | — | — | |
| Coca-Cola Co. | 0.50 | — | — | — | — | |
| PepsiCo Inc. | 0.41 | — | — | — | — | |
| Philip Morris International Inc. | 0.72 | — | — | — | — | |
| Debt to Assets, Sector | ||||||
| Food, Beverage & Tobacco | 0.52 | — | — | — | — | |
| Debt to Assets, Industry | ||||||
| Consumer Staples | 0.35 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= 29,244 ÷ 101,450 = 0.29
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. | Kraft Heinz Co. debt to assets ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Debt to Assets (including Operating Lease Liability)
Kraft Heinz Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 28, 2019 | Dec 29, 2018 | Dec 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Commercial paper and other short-term debt | 6) | 21) | 460) | 645) | 4) | |
| Current portion of long-term debt | 1,022) | 377) | 2,743) | 2,046) | 79) | |
| Long-term debt, excluding current portion | 28,216) | 30,770) | 28,333) | 29,713) | 25,151) | |
| Total debt | 29,244) | 31,168) | 31,536) | 32,404) | 25,234) | |
| Lease liabilities, operating leases, current | 147) | —) | —) | —) | —) | |
| Lease liabilities, operating leases, non-current | 454) | —) | —) | —) | —) | |
| Total debt (including operating lease liability) | 29,845) | 31,168) | 31,536) | 32,404) | 25,234) | |
| Total assets | 101,450) | 103,461) | 120,232) | 120,480) | 122,973) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.29 | 0.30 | 0.26 | 0.27 | 0.21 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Coca-Cola Co. | 0.51 | — | — | — | — | |
| PepsiCo Inc. | 0.43 | — | — | — | — | |
| Philip Morris International Inc. | 0.74 | — | — | — | — | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 0.54 | — | — | — | — | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 0.36 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 29,845 ÷ 101,450 = 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. | Kraft Heinz Co. debt to assets ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Financial Leverage
Kraft Heinz Co., financial leverage calculation, comparison to benchmarks
| Dec 28, 2019 | Dec 29, 2018 | Dec 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Total assets | 101,450) | 103,461) | 120,232) | 120,480) | 122,973) | |
| Shareholders’ equity | 51,623) | 51,657) | 66,034) | 57,358) | 57,685) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 1.97 | 2.00 | 1.82 | 2.10 | 2.13 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Altria Group Inc. | 7.92 | — | — | — | — | |
| Coca-Cola Co. | 4.55 | — | — | — | — | |
| PepsiCo Inc. | 5.31 | — | — | — | — | |
| Philip Morris International Inc. | — | — | — | — | — | |
| Financial Leverage, Sector | ||||||
| Food, Beverage & Tobacco | 9.05 | — | — | — | — | |
| Financial Leverage, Industry | ||||||
| Consumer Staples | 3.88 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 101,450 ÷ 51,623 = 1.97
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. | Kraft Heinz Co. financial leverage ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019. |
Interest Coverage
Kraft Heinz Co., interest coverage calculation, comparison to benchmarks
| Dec 28, 2019 | Dec 29, 2018 | Dec 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) attributable to Kraft Heinz | 1,935) | (10,192) | 10,999) | 3,632) | 634) | |
| Add: Net income attributable to noncontrolling interest | (2) | (62) | (9) | 10) | 13) | |
| Add: Income tax expense | 728) | (1,067) | (5,460) | 1,381) | 366) | |
| Add: Interest expense | 1,361) | 1,284) | 1,234) | 1,134) | 1,321) | |
| Earnings before interest and tax (EBIT) | 4,022) | (10,037) | 6,764) | 6,157) | 2,334) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 2.96 | -7.82 | 5.48 | 5.43 | 1.77 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Altria Group Inc. | 1.58 | — | — | — | — | |
| Coca-Cola Co. | 12.40 | — | — | — | — | |
| PepsiCo Inc. | 9.20 | — | — | — | — | |
| Philip Morris International Inc. | 13.59 | — | — | — | — | |
| Interest Coverage, Sector | ||||||
| Food, Beverage & Tobacco | 8.36 | — | — | — | — | |
| Interest Coverage, Industry | ||||||
| Consumer Staples | 8.42 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= 4,022 ÷ 1,361 = 2.96
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. | Kraft Heinz Co. interest coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
Fixed Charge Coverage
Kraft Heinz Co., fixed charge coverage calculation, comparison to benchmarks
| Dec 28, 2019 | Dec 29, 2018 | Dec 30, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| U.S. federal statutory tax rate | 21.00% | 21.00% | 35.00% | 35.00% | 35.00% | |
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) attributable to Kraft Heinz | 1,935) | (10,192) | 10,999) | 3,632) | 634) | |
| Add: Net income attributable to noncontrolling interest | (2) | (62) | (9) | 10) | 13) | |
| Add: Income tax expense | 728) | (1,067) | (5,460) | 1,381) | 366) | |
| Add: Interest expense | 1,361) | 1,284) | 1,234) | 1,134) | 1,321) | |
| Earnings before interest and tax (EBIT) | 4,022) | (10,037) | 6,764) | 6,157) | 2,334) | |
| Add: Operating lease costs | 191) | 200) | 183) | 149) | 160) | |
| Earnings before fixed charges and tax | 4,213) | (9,837) | 6,947) | 6,306) | 2,494) | |
| Interest expense | 1,361) | 1,284) | 1,234) | 1,134) | 1,321) | |
| Operating lease costs | 191) | 200) | 183) | 149) | 160) | |
| Preferred dividends | —) | —) | —) | 180) | 900) | |
| Preferred dividends, tax adjustment1 | —) | —) | —) | 97) | 485) | |
| Preferred dividends, after tax adjustment | —) | —) | —) | 277) | 1,385) | |
| Fixed charges | 1,552) | 1,484) | 1,417) | 1,560) | 2,866) | |
| Solvency Ratio | ||||||
| Fixed charge coverage2 | 2.71 | -6.63 | 4.90 | 4.04 | 0.87 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors3 | ||||||
| Coca-Cola Co. | 9.47 | — | — | — | — | |
| PepsiCo Inc. | 6.79 | — | — | — | — | |
| Philip Morris International Inc. | 9.88 | — | — | — | — | |
| Fixed Charge Coverage, Sector | ||||||
| Food, Beverage & Tobacco | 6.79 | — | — | — | — | |
| Fixed Charge Coverage, Industry | ||||||
| Consumer Staples | 5.35 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Preferred dividends, tax adjustment = (Preferred dividends × U.S. federal statutory tax rate) ÷ (1 − U.S. federal statutory tax rate)
= (0 × 21.00%) ÷ (1 − 21.00%) = 0
2 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 4,213 ÷ 1,552 = 2.71
3 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. | Kraft Heinz Co. fixed charge coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |