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)
Twenty-First Century Fox Inc., solvency ratios
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Twenty-First Century Fox Inc. debt to equity ratio improved from 2016 to 2017 and from 2017 to 2018. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Twenty-First Century Fox Inc. debt to capital ratio improved from 2016 to 2017 and from 2017 to 2018. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Twenty-First Century Fox Inc. debt to assets ratio improved from 2016 to 2017 and from 2017 to 2018. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Twenty-First Century Fox Inc. financial leverage ratio decreased from 2016 to 2017 and from 2017 to 2018. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Twenty-First Century Fox Inc. interest coverage ratio improved from 2016 to 2017 but then slightly deteriorated from 2017 to 2018 not reaching 2016 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Twenty-First Century Fox Inc. fixed charge coverage ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018. |
Debt to Equity
Twenty-First Century Fox Inc., debt to equity calculation, comparison to benchmarks
| Jun 30, 2018 | Jun 30, 2017 | Jun 30, 2016 | Jun 30, 2015 | Jun 30, 2014 | Jun 30, 2013 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current borrowings | 1,054) | 457) | 427) | 244) | 799) | 137) | |
| Non-current borrowings | 18,469) | 19,456) | 19,298) | 18,795) | 18,259) | 16,321) | |
| Total debt | 19,523) | 19,913) | 19,725) | 19,039) | 19,058) | 16,458) | |
| Total Twenty-First Century Fox, Inc. stockholders’ equity | 19,564) | 15,722) | 13,661) | 17,220) | 17,418) | 16,998) | |
| Solvency Ratio | |||||||
| Debt to equity1 | 1.00 | 1.27 | 1.44 | 1.11 | 1.09 | 0.97 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Alphabet Inc. | — | — | — | — | — | — | |
| Comcast Corp. | — | — | — | — | — | — | |
| Meta Platforms Inc. | — | — | — | — | — | — | |
| Netflix Inc. | — | — | — | — | — | — | |
| Walt Disney Co. | — | — | — | — | — | — | |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30).
1 2018 Calculation
Debt to equity = Total debt ÷ Total Twenty-First Century Fox, Inc. stockholders’ equity
= 19,523 ÷ 19,564 = 1.00
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. | Twenty-First Century Fox Inc. debt to equity ratio improved from 2016 to 2017 and from 2017 to 2018. |
Debt to Capital
Twenty-First Century Fox Inc., debt to capital calculation, comparison to benchmarks
| Jun 30, 2018 | Jun 30, 2017 | Jun 30, 2016 | Jun 30, 2015 | Jun 30, 2014 | Jun 30, 2013 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current borrowings | 1,054) | 457) | 427) | 244) | 799) | 137) | |
| Non-current borrowings | 18,469) | 19,456) | 19,298) | 18,795) | 18,259) | 16,321) | |
| Total debt | 19,523) | 19,913) | 19,725) | 19,039) | 19,058) | 16,458) | |
| Total Twenty-First Century Fox, Inc. stockholders’ equity | 19,564) | 15,722) | 13,661) | 17,220) | 17,418) | 16,998) | |
| Total capital | 39,087) | 35,635) | 33,386) | 36,259) | 36,476) | 33,456) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.50 | 0.56 | 0.59 | 0.53 | 0.52 | 0.49 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Alphabet Inc. | — | — | — | — | — | — | |
| Comcast Corp. | — | — | — | — | — | — | |
| Meta Platforms Inc. | — | — | — | — | — | — | |
| Netflix Inc. | — | — | — | — | — | — | |
| Walt Disney Co. | — | — | — | — | — | — | |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30).
1 2018 Calculation
Debt to capital = Total debt ÷ Total capital
= 19,523 ÷ 39,087 = 0.50
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. | Twenty-First Century Fox Inc. debt to capital ratio improved from 2016 to 2017 and from 2017 to 2018. |
Debt to Assets
Twenty-First Century Fox Inc., debt to assets calculation, comparison to benchmarks
| Jun 30, 2018 | Jun 30, 2017 | Jun 30, 2016 | Jun 30, 2015 | Jun 30, 2014 | Jun 30, 2013 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current borrowings | 1,054) | 457) | 427) | 244) | 799) | 137) | |
| Non-current borrowings | 18,469) | 19,456) | 19,298) | 18,795) | 18,259) | 16,321) | |
| Total debt | 19,523) | 19,913) | 19,725) | 19,039) | 19,058) | 16,458) | |
| Total assets | 53,831) | 50,724) | 48,365) | 50,051) | 54,793) | 50,944) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.36 | 0.39 | 0.41 | 0.38 | 0.35 | 0.32 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Alphabet Inc. | — | — | — | — | — | — | |
| Comcast Corp. | — | — | — | — | — | — | |
| Meta Platforms Inc. | — | — | — | — | — | — | |
| Netflix Inc. | — | — | — | — | — | — | |
| Walt Disney Co. | — | — | — | — | — | — | |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30).
1 2018 Calculation
Debt to assets = Total debt ÷ Total assets
= 19,523 ÷ 53,831 = 0.36
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. | Twenty-First Century Fox Inc. debt to assets ratio improved from 2016 to 2017 and from 2017 to 2018. |
Financial Leverage
Twenty-First Century Fox Inc., financial leverage calculation, comparison to benchmarks
| Jun 30, 2018 | Jun 30, 2017 | Jun 30, 2016 | Jun 30, 2015 | Jun 30, 2014 | Jun 30, 2013 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | 53,831) | 50,724) | 48,365) | 50,051) | 54,793) | 50,944) | |
| Total Twenty-First Century Fox, Inc. stockholders’ equity | 19,564) | 15,722) | 13,661) | 17,220) | 17,418) | 16,998) | |
| Solvency Ratio | |||||||
| Financial leverage1 | 2.75 | 3.23 | 3.54 | 2.91 | 3.15 | 3.00 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Alphabet Inc. | — | — | — | — | — | — | |
| Comcast Corp. | — | — | — | — | — | — | |
| Meta Platforms Inc. | — | — | — | — | — | — | |
| Netflix Inc. | — | — | — | — | — | — | |
| Walt Disney Co. | — | — | — | — | — | — | |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30).
1 2018 Calculation
Financial leverage = Total assets ÷ Total Twenty-First Century Fox, Inc. stockholders’ equity
= 53,831 ÷ 19,564 = 2.75
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. | Twenty-First Century Fox Inc. financial leverage ratio decreased from 2016 to 2017 and from 2017 to 2018. |
Interest Coverage
Twenty-First Century Fox Inc., interest coverage calculation, comparison to benchmarks
| Jun 30, 2018 | Jun 30, 2017 | Jun 30, 2016 | Jun 30, 2015 | Jun 30, 2014 | Jun 30, 2013 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income attributable to Twenty-First Century Fox, Inc. stockholders | 4,464) | 2,952) | 2,755) | 8,306) | 4,514) | 7,097) | |
| Add: Net income attributable to noncontrolling interest | 298) | 274) | 261) | 231) | 132) | 226) | |
| Less: Income (loss) from discontinued operations, net of tax | (12) | (44) | (8) | (67) | 729) | 277) | |
| Add: Income tax expense | (364) | 1,419) | 1,130) | 1,243) | 1,272) | 1,690) | |
| Add: Interest expense, net | 1,248) | 1,219) | 1,184) | 1,198) | 1,121) | 1,063) | |
| Earnings before interest and tax (EBIT) | 5,658) | 5,908) | 5,338) | 11,045) | 6,310) | 9,799) | |
| Solvency Ratio | |||||||
| Interest coverage1 | 4.53 | 4.85 | 4.51 | 9.22 | 5.63 | 9.22 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Alphabet Inc. | — | — | — | — | — | — | |
| Comcast Corp. | — | — | — | — | — | — | |
| Meta Platforms Inc. | — | — | — | — | — | — | |
| Netflix Inc. | — | — | — | — | — | — | |
| Walt Disney Co. | — | — | — | — | — | — | |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30).
1 2018 Calculation
Interest coverage = EBIT ÷ Interest expense
= 5,658 ÷ 1,248 = 4.53
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. | Twenty-First Century Fox Inc. interest coverage ratio improved from 2016 to 2017 but then slightly deteriorated from 2017 to 2018 not reaching 2016 level. |
Fixed Charge Coverage
Twenty-First Century Fox Inc., fixed charge coverage calculation, comparison to benchmarks
| Jun 30, 2018 | Jun 30, 2017 | Jun 30, 2016 | Jun 30, 2015 | Jun 30, 2014 | Jun 30, 2013 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income attributable to Twenty-First Century Fox, Inc. stockholders | 4,464) | 2,952) | 2,755) | 8,306) | 4,514) | 7,097) | |
| Add: Net income attributable to noncontrolling interest | 298) | 274) | 261) | 231) | 132) | 226) | |
| Less: Income (loss) from discontinued operations, net of tax | (12) | (44) | (8) | (67) | 729) | 277) | |
| Add: Income tax expense | (364) | 1,419) | 1,130) | 1,243) | 1,272) | 1,690) | |
| Add: Interest expense, net | 1,248) | 1,219) | 1,184) | 1,198) | 1,121) | 1,063) | |
| Earnings before interest and tax (EBIT) | 5,658) | 5,908) | 5,338) | 11,045) | 6,310) | 9,799) | |
| Add: Operating lease expense | 230) | 205) | 200) | 260) | 365) | 385) | |
| Earnings before fixed charges and tax | 5,888) | 6,113) | 5,538) | 11,305) | 6,675) | 10,184) | |
| Interest expense, net | 1,248) | 1,219) | 1,184) | 1,198) | 1,121) | 1,063) | |
| Operating lease expense | 230) | 205) | 200) | 260) | 365) | 385) | |
| Fixed charges | 1,478) | 1,424) | 1,384) | 1,458) | 1,486) | 1,448) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 3.98 | 4.29 | 4.00 | 7.75 | 4.49 | 7.03 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Alphabet Inc. | — | — | — | — | — | — | |
| Comcast Corp. | — | — | — | — | — | — | |
| Meta Platforms Inc. | — | — | — | — | — | — | |
| Netflix Inc. | — | — | — | — | — | — | |
| Walt Disney Co. | — | — | — | — | — | — | |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30).
1 2018 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 5,888 ÷ 1,478 = 3.98
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. | Twenty-First Century Fox Inc. fixed charge coverage ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018. |