Stock Analysis on Net

Walgreens Boots Alliance Inc. (NASDAQ:WBA)

This company has been moved to the archive! The financial data has not been updated since July 9, 2020.

Analysis of Solvency Ratios
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

Walgreens Boots Alliance Inc., solvency ratios (quarterly data)

Microsoft Excel
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Debt Ratios
Debt to equity 0.80 0.70 0.71 0.72 0.73 0.73 0.62 0.55 0.54 0.57 0.54 0.47 0.63 0.63 0.64 0.64 0.44 0.48 0.46 0.47 0.51 0.55 0.70 0.22 0.21 0.24 0.25
Debt to equity (including operating lease liability) 1.96 1.72 1.73 0.72 0.73 0.73 0.62 0.55 0.54 0.57 0.54 0.47 0.63 0.63 0.64 0.64 0.44 0.48 0.46 0.47 0.51 0.55 0.70 0.22 0.21 0.24 0.25
Debt to capital 0.44 0.41 0.42 0.42 0.42 0.42 0.38 0.36 0.35 0.36 0.35 0.32 0.39 0.39 0.39 0.39 0.30 0.32 0.32 0.32 0.34 0.36 0.41 0.18 0.17 0.20 0.20
Debt to capital (including operating lease liability) 0.66 0.63 0.63 0.42 0.42 0.42 0.38 0.36 0.35 0.36 0.35 0.32 0.39 0.39 0.39 0.39 0.30 0.32 0.32 0.32 0.34 0.36 0.41 0.18 0.17 0.20 0.20
Debt to assets 0.19 0.18 0.19 0.25 0.26 0.26 0.23 0.21 0.21 0.22 0.21 0.20 0.26 0.26 0.26 0.26 0.20 0.21 0.21 0.21 0.23 0.24 0.30 0.12 0.12 0.14 0.14
Debt to assets (including operating lease liability) 0.47 0.45 0.45 0.25 0.26 0.26 0.23 0.21 0.21 0.22 0.21 0.20 0.26 0.26 0.26 0.26 0.20 0.21 0.21 0.21 0.23 0.24 0.30 0.12 0.12 0.14 0.14
Financial leverage 4.17 3.79 3.84 2.88 2.84 2.84 2.73 2.62 2.53 2.59 2.57 2.40 2.42 2.41 2.45 2.43 2.18 2.25 2.24 2.23 2.24 2.32 2.36 1.82 1.75 1.78 1.82
Coverage Ratios
Interest coverage 2.42 6.63 6.84 7.46 9.02 9.79 10.97 10.79 9.14 8.97 7.91 8.01 8.70 8.94 9.23 9.70 6.76 7.14 8.88 9.82 15.05 18.76 22.45 23.80

Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Walgreens Boots Alliance Inc. debt to equity ratio improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Walgreens Boots Alliance Inc. debt to equity ratio (including operating lease liability) improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Walgreens Boots Alliance Inc. debt to capital ratio improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.
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. Walgreens Boots Alliance Inc. debt to capital ratio (including operating lease liability) improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Walgreens Boots Alliance Inc. debt to assets ratio improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Walgreens Boots Alliance Inc. debt to assets ratio (including operating lease liability) deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Walgreens Boots Alliance Inc. financial leverage ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Walgreens Boots Alliance Inc. interest coverage ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Equity

Walgreens Boots Alliance Inc., debt to equity calculation (quarterly data)

Microsoft Excel
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Selected Financial Data (US$ in millions)
Short-term debt 4,379 5,984 6,225 5,738 5,483 5,356 4,344 1,966 2,587 3,140 1,268 251 4,838 1,153 1,095 323 374 1,052 1,083 1,068 1,192 1,061 774 774 780 577 571
Long-term debt 12,111 10,625 10,628 11,098 12,127 12,685 11,646 12,431 12,456 12,532 12,737 12,684 14,372 17,758 17,777 18,705 13,151 12,974 13,194 13,315 15,055 16,001 13,756 3,736 3,747 4,489 4,501
Total debt 16,490 16,609 16,853 16,836 17,610 18,041 15,990 14,397 15,043 15,672 14,005 12,935 19,210 18,911 18,872 19,028 13,525 14,026 14,277 14,383 16,247 17,062 14,530 4,510 4,527 5,066 5,072
 
Total Walgreens Boots Alliance, Inc. shareholders’ equity 20,736 23,720 23,661 23,512 24,133 24,770 25,609 26,007 27,736 27,355 25,929 27,466 30,600 30,067 29,325 29,880 30,881 29,506 30,709 30,861 31,563 30,814 20,636 20,457 21,417 20,784 20,021
Solvency Ratio
Debt to equity1 0.80 0.70 0.71 0.72 0.73 0.73 0.62 0.55 0.54 0.57 0.54 0.47 0.63 0.63 0.64 0.64 0.44 0.48 0.46 0.47 0.51 0.55 0.70 0.22 0.21 0.24 0.25
Benchmarks
Debt to Equity, Competitors2
Costco Wholesale Corp. 0.54 0.34 0.43 0.45 0.45 0.47 0.49
Dollar General Corp. 0.42 0.38 0.42 0.45 0.46 0.44 0.46
Target Corp. 1.01 0.97 1.12 1.00 1.05 1.00 1.02
Walmart Inc. 0.82 0.81 0.85 0.80 0.85 0.76 0.61

Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).

1 Q3 2020 Calculation
Debt to equity = Total debt ÷ Total Walgreens Boots Alliance, Inc. shareholders’ equity
= 16,490 ÷ 20,736 = 0.80

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. Walgreens Boots Alliance Inc. debt to equity ratio improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.

Debt to Equity (including Operating Lease Liability)

Walgreens Boots Alliance Inc., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Selected Financial Data (US$ in millions)
Short-term debt 4,379 5,984 6,225 5,738 5,483 5,356 4,344 1,966 2,587 3,140 1,268 251 4,838 1,153 1,095 323 374 1,052 1,083 1,068 1,192 1,061 774 774 780 577 571
Long-term debt 12,111 10,625 10,628 11,098 12,127 12,685 11,646 12,431 12,456 12,532 12,737 12,684 14,372 17,758 17,777 18,705 13,151 12,974 13,194 13,315 15,055 16,001 13,756 3,736 3,747 4,489 4,501
Total debt 16,490 16,609 16,853 16,836 17,610 18,041 15,990 14,397 15,043 15,672 14,005 12,935 19,210 18,911 18,872 19,028 13,525 14,026 14,277 14,383 16,247 17,062 14,530 4,510 4,527 5,066 5,072
Current operating lease obligation 2,288 2,278 2,288
Non-current operating lease obligation 21,943 21,959 21,894
Total debt (including operating lease liability) 40,721 40,846 41,035 16,836 17,610 18,041 15,990 14,397 15,043 15,672 14,005 12,935 19,210 18,911 18,872 19,028 13,525 14,026 14,277 14,383 16,247 17,062 14,530 4,510 4,527 5,066 5,072
 
Total Walgreens Boots Alliance, Inc. shareholders’ equity 20,736 23,720 23,661 23,512 24,133 24,770 25,609 26,007 27,736 27,355 25,929 27,466 30,600 30,067 29,325 29,880 30,881 29,506 30,709 30,861 31,563 30,814 20,636 20,457 21,417 20,784 20,021
Solvency Ratio
Debt to equity (including operating lease liability)1 1.96 1.72 1.73 0.72 0.73 0.73 0.62 0.55 0.54 0.57 0.54 0.47 0.63 0.63 0.64 0.64 0.44 0.48 0.46 0.47 0.51 0.55 0.70 0.22 0.21 0.24 0.25
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Costco Wholesale Corp. 0.69 0.48 0.58 0.45 0.45 0.47 0.49
Dollar General Corp. 1.71 1.63 1.65 0.45 0.46 0.44 0.46
Target Corp. 1.20 1.15 1.30 1.18 1.24 1.18 1.20
Walmart Inc. 1.06 1.06 1.11 0.80 0.85 0.76 0.61

Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).

1 Q3 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Walgreens Boots Alliance, Inc. shareholders’ equity
= 40,721 ÷ 20,736 = 1.96

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. Walgreens Boots Alliance Inc. debt to equity ratio (including operating lease liability) improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.

Debt to Capital

Walgreens Boots Alliance Inc., debt to capital calculation (quarterly data)

Microsoft Excel
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Selected Financial Data (US$ in millions)
Short-term debt 4,379 5,984 6,225 5,738 5,483 5,356 4,344 1,966 2,587 3,140 1,268 251 4,838 1,153 1,095 323 374 1,052 1,083 1,068 1,192 1,061 774 774 780 577 571
Long-term debt 12,111 10,625 10,628 11,098 12,127 12,685 11,646 12,431 12,456 12,532 12,737 12,684 14,372 17,758 17,777 18,705 13,151 12,974 13,194 13,315 15,055 16,001 13,756 3,736 3,747 4,489 4,501
Total debt 16,490 16,609 16,853 16,836 17,610 18,041 15,990 14,397 15,043 15,672 14,005 12,935 19,210 18,911 18,872 19,028 13,525 14,026 14,277 14,383 16,247 17,062 14,530 4,510 4,527 5,066 5,072
Total Walgreens Boots Alliance, Inc. shareholders’ equity 20,736 23,720 23,661 23,512 24,133 24,770 25,609 26,007 27,736 27,355 25,929 27,466 30,600 30,067 29,325 29,880 30,881 29,506 30,709 30,861 31,563 30,814 20,636 20,457 21,417 20,784 20,021
Total capital 37,226 40,329 40,514 40,348 41,743 42,811 41,599 40,404 42,779 43,027 39,934 40,401 49,810 48,978 48,197 48,908 44,406 43,532 44,986 45,244 47,810 47,876 35,166 24,967 25,944 25,850 25,093
Solvency Ratio
Debt to capital1 0.44 0.41 0.42 0.42 0.42 0.42 0.38 0.36 0.35 0.36 0.35 0.32 0.39 0.39 0.39 0.39 0.30 0.32 0.32 0.32 0.34 0.36 0.41 0.18 0.17 0.20 0.20
Benchmarks
Debt to Capital, Competitors2
Costco Wholesale Corp. 0.35 0.25 0.30 0.31 0.31 0.32 0.33
Dollar General Corp. 0.29 0.28 0.29 0.31 0.31 0.30 0.31
Target Corp. 0.50 0.49 0.53 0.50 0.51 0.50 0.51
Walmart Inc. 0.45 0.45 0.46 0.44 0.46 0.43 0.38

Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).

1 Q3 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 16,490 ÷ 37,226 = 0.44

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. Walgreens Boots Alliance Inc. debt to capital ratio improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.

Debt to Capital (including Operating Lease Liability)

Walgreens Boots Alliance Inc., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Selected Financial Data (US$ in millions)
Short-term debt 4,379 5,984 6,225 5,738 5,483 5,356 4,344 1,966 2,587 3,140 1,268 251 4,838 1,153 1,095 323 374 1,052 1,083 1,068 1,192 1,061 774 774 780 577 571
Long-term debt 12,111 10,625 10,628 11,098 12,127 12,685 11,646 12,431 12,456 12,532 12,737 12,684 14,372 17,758 17,777 18,705 13,151 12,974 13,194 13,315 15,055 16,001 13,756 3,736 3,747 4,489 4,501
Total debt 16,490 16,609 16,853 16,836 17,610 18,041 15,990 14,397 15,043 15,672 14,005 12,935 19,210 18,911 18,872 19,028 13,525 14,026 14,277 14,383 16,247 17,062 14,530 4,510 4,527 5,066 5,072
Current operating lease obligation 2,288 2,278 2,288
Non-current operating lease obligation 21,943 21,959 21,894
Total debt (including operating lease liability) 40,721 40,846 41,035 16,836 17,610 18,041 15,990 14,397 15,043 15,672 14,005 12,935 19,210 18,911 18,872 19,028 13,525 14,026 14,277 14,383 16,247 17,062 14,530 4,510 4,527 5,066 5,072
Total Walgreens Boots Alliance, Inc. shareholders’ equity 20,736 23,720 23,661 23,512 24,133 24,770 25,609 26,007 27,736 27,355 25,929 27,466 30,600 30,067 29,325 29,880 30,881 29,506 30,709 30,861 31,563 30,814 20,636 20,457 21,417 20,784 20,021
Total capital (including operating lease liability) 61,457 64,566 64,696 40,348 41,743 42,811 41,599 40,404 42,779 43,027 39,934 40,401 49,810 48,978 48,197 48,908 44,406 43,532 44,986 45,244 47,810 47,876 35,166 24,967 25,944 25,850 25,093
Solvency Ratio
Debt to capital (including operating lease liability)1 0.66 0.63 0.63 0.42 0.42 0.42 0.38 0.36 0.35 0.36 0.35 0.32 0.39 0.39 0.39 0.39 0.30 0.32 0.32 0.32 0.34 0.36 0.41 0.18 0.17 0.20 0.20
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Costco Wholesale Corp. 0.41 0.33 0.37 0.31 0.31 0.32 0.33
Dollar General Corp. 0.63 0.62 0.62 0.31 0.31 0.30 0.31
Target Corp. 0.55 0.54 0.57 0.54 0.55 0.54 0.55
Walmart Inc. 0.51 0.52 0.53 0.44 0.46 0.43 0.38

Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).

1 Q3 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 40,721 ÷ 61,457 = 0.66

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. Walgreens Boots Alliance Inc. debt to capital ratio (including operating lease liability) improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.

Debt to Assets

Walgreens Boots Alliance Inc., debt to assets calculation (quarterly data)

Microsoft Excel
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Selected Financial Data (US$ in millions)
Short-term debt 4,379 5,984 6,225 5,738 5,483 5,356 4,344 1,966 2,587 3,140 1,268 251 4,838 1,153 1,095 323 374 1,052 1,083 1,068 1,192 1,061 774 774 780 577 571
Long-term debt 12,111 10,625 10,628 11,098 12,127 12,685 11,646 12,431 12,456 12,532 12,737 12,684 14,372 17,758 17,777 18,705 13,151 12,974 13,194 13,315 15,055 16,001 13,756 3,736 3,747 4,489 4,501
Total debt 16,490 16,609 16,853 16,836 17,610 18,041 15,990 14,397 15,043 15,672 14,005 12,935 19,210 18,911 18,872 19,028 13,525 14,026 14,277 14,383 16,247 17,062 14,530 4,510 4,527 5,066 5,072
 
Total assets 86,444 90,003 90,807 67,598 68,586 70,434 69,941 68,124 70,152 70,816 66,618 66,009 74,173 72,505 71,912 72,688 67,333 66,385 68,657 68,782 70,644 71,357 48,612 37,182 37,391 37,081 36,481
Solvency Ratio
Debt to assets1 0.19 0.18 0.19 0.25 0.26 0.26 0.23 0.21 0.21 0.22 0.21 0.20 0.26 0.26 0.26 0.26 0.20 0.21 0.21 0.21 0.23 0.24 0.30 0.12 0.12 0.14 0.14
Benchmarks
Debt to Assets, Competitors2
Costco Wholesale Corp. 0.18 0.11 0.13 0.15 0.15 0.15 0.15
Dollar General Corp. 0.12 0.12 0.13 0.22 0.22 0.21 0.23
Target Corp. 0.27 0.28 0.31 0.27 0.27 0.28 0.29
Walmart Inc. 0.24 0.24 0.25 0.26 0.27 0.26 0.23

Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).

1 Q3 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 16,490 ÷ 86,444 = 0.19

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. Walgreens Boots Alliance Inc. debt to assets ratio improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.

Debt to Assets (including Operating Lease Liability)

Walgreens Boots Alliance Inc., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Selected Financial Data (US$ in millions)
Short-term debt 4,379 5,984 6,225 5,738 5,483 5,356 4,344 1,966 2,587 3,140 1,268 251 4,838 1,153 1,095 323 374 1,052 1,083 1,068 1,192 1,061 774 774 780 577 571
Long-term debt 12,111 10,625 10,628 11,098 12,127 12,685 11,646 12,431 12,456 12,532 12,737 12,684 14,372 17,758 17,777 18,705 13,151 12,974 13,194 13,315 15,055 16,001 13,756 3,736 3,747 4,489 4,501
Total debt 16,490 16,609 16,853 16,836 17,610 18,041 15,990 14,397 15,043 15,672 14,005 12,935 19,210 18,911 18,872 19,028 13,525 14,026 14,277 14,383 16,247 17,062 14,530 4,510 4,527 5,066 5,072
Current operating lease obligation 2,288 2,278 2,288
Non-current operating lease obligation 21,943 21,959 21,894
Total debt (including operating lease liability) 40,721 40,846 41,035 16,836 17,610 18,041 15,990 14,397 15,043 15,672 14,005 12,935 19,210 18,911 18,872 19,028 13,525 14,026 14,277 14,383 16,247 17,062 14,530 4,510 4,527 5,066 5,072
 
Total assets 86,444 90,003 90,807 67,598 68,586 70,434 69,941 68,124 70,152 70,816 66,618 66,009 74,173 72,505 71,912 72,688 67,333 66,385 68,657 68,782 70,644 71,357 48,612 37,182 37,391 37,081 36,481
Solvency Ratio
Debt to assets (including operating lease liability)1 0.47 0.45 0.45 0.25 0.26 0.26 0.23 0.21 0.21 0.22 0.21 0.20 0.26 0.26 0.26 0.26 0.20 0.21 0.21 0.21 0.23 0.24 0.30 0.12 0.12 0.14 0.14
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Costco Wholesale Corp. 0.22 0.16 0.18 0.15 0.15 0.15 0.15
Dollar General Corp. 0.51 0.50 0.51 0.22 0.22 0.21 0.23
Target Corp. 0.32 0.33 0.36 0.32 0.31 0.33 0.34
Walmart Inc. 0.32 0.32 0.32 0.26 0.27 0.26 0.23

Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).

1 Q3 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 40,721 ÷ 86,444 = 0.47

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. Walgreens Boots Alliance Inc. debt to assets ratio (including operating lease liability) deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Financial Leverage

Walgreens Boots Alliance Inc., financial leverage calculation (quarterly data)

Microsoft Excel
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Selected Financial Data (US$ in millions)
Total assets 86,444 90,003 90,807 67,598 68,586 70,434 69,941 68,124 70,152 70,816 66,618 66,009 74,173 72,505 71,912 72,688 67,333 66,385 68,657 68,782 70,644 71,357 48,612 37,182 37,391 37,081 36,481
Total Walgreens Boots Alliance, Inc. shareholders’ equity 20,736 23,720 23,661 23,512 24,133 24,770 25,609 26,007 27,736 27,355 25,929 27,466 30,600 30,067 29,325 29,880 30,881 29,506 30,709 30,861 31,563 30,814 20,636 20,457 21,417 20,784 20,021
Solvency Ratio
Financial leverage1 4.17 3.79 3.84 2.88 2.84 2.84 2.73 2.62 2.53 2.59 2.57 2.40 2.42 2.41 2.45 2.43 2.18 2.25 2.24 2.23 2.24 2.32 2.36 1.82 1.75 1.78 1.82
Benchmarks
Financial Leverage, Competitors2
Costco Wholesale Corp. 3.08 2.94 3.24 2.98 3.02 3.09 3.33
Dollar General Corp. 3.37 3.25 3.24 2.06 2.06 2.03 2.00
Target Corp. 3.79 3.51 3.65 3.65 3.93 3.58 3.49
Walmart Inc. 3.35 3.34 3.44 3.02 3.15 2.89 2.71

Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).

1 Q3 2020 Calculation
Financial leverage = Total assets ÷ Total Walgreens Boots Alliance, Inc. shareholders’ equity
= 86,444 ÷ 20,736 = 4.17

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. Walgreens Boots Alliance Inc. financial leverage ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Interest Coverage

Walgreens Boots Alliance Inc., interest coverage calculation (quarterly data)

Microsoft Excel
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Selected Financial Data (US$ in millions)
Net earnings (loss) attributable to Walgreens Boots Alliance, Inc. (1,708) 946 845 678 1,025 1,156 1,123 1,512 1,342 1,349 821 802 1,162 1,060 1,054 1,030 1,103 930 1,110 26 1,302 2,042 850 (239) 722 754 695
Add: Net income attributable to noncontrolling interest (18) 6 (3) 9 12 (18) (23) 2 4 1 5 3 2 13 5 4 2 7 6 8 18 27 34 42 14 9
Add: Income tax expense (40) 160 32 26 156 226 180 159 109 503 227 126 168 246 220 207 322 301 167 (64) 408 391 321 360 351 411 404
Add: Interest expense, net 155 162 166 176 187 180 161 159 157 151 149 193 155 172 173 171 147 140 138 255 151 144 55 43 35 37 41
Earnings before interest and tax (EBIT) (1,611) 1,274 1,040 889 1,380 1,544 1,441 1,832 1,612 2,003 1,198 1,126 1,488 1,480 1,460 1,413 1,576 1,373 1,422 223 1,869 2,595 1,253 198 1,150 1,216 1,149
Solvency Ratio
Interest coverage1 2.42 6.63 6.84 7.46 9.02 9.79 10.97 10.79 9.14 8.97 7.91 8.01 8.70 8.94 9.23 9.70 6.76 7.14 8.88 9.82 15.05 18.76 22.45 23.80
Benchmarks
Interest Coverage, Competitors2
Costco Wholesale Corp. 33.40 33.57 33.16 32.77
Dollar General Corp. 22.18 21.62 21.16 21.18
Target Corp. 9.86 9.42 9.09 8.97
Walmart Inc. 8.69 8.11 6.54 5.88

Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).

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)
= (-1,611 + 1,274 + 1,040 + 889) ÷ (155 + 162 + 166 + 176) = 2.42

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. Walgreens Boots Alliance Inc. interest coverage ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.