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)
Amphenol Corp., 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. | Amphenol Corp. debt to equity ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Amphenol Corp. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Amphenol Corp. debt to capital ratio improved from 2021 to 2022 and from 2022 to 2023. |
| 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. | Amphenol Corp. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Amphenol Corp. debt to assets ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Amphenol Corp. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Amphenol Corp. financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Amphenol Corp. interest coverage ratio improved from 2021 to 2022 but then slightly deteriorated 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. | Amphenol Corp. fixed charge coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Equity
Amphenol Corp., 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 thousands) | ||||||
| Current portion of long-term debt | 353,800) | 2,700) | 4,000) | 230,300) | 403,300) | |
| Long-term debt, less current portion | 3,983,500) | 4,575,000) | 4,795,900) | 3,636,200) | 3,203,400) | |
| Total debt | 4,337,300) | 4,577,700) | 4,799,900) | 3,866,500) | 3,606,700) | |
| Stockholders’ equity attributable to Amphenol Corporation | 8,346,500) | 7,015,600) | 6,302,000) | 5,384,900) | 4,530,300) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.52 | 0.65 | 0.76 | 0.72 | 0.80 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Apple Inc. | 1.80 | 2.39 | 1.99 | 1.73 | 1.19 | |
| Arista Networks Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Cisco Systems Inc. | 0.19 | 0.24 | 0.28 | 0.38 | 0.73 | |
| Super Micro Computer Inc. | 0.15 | 0.42 | 0.09 | 0.03 | 0.03 | |
| Debt to Equity, Sector | ||||||
| Technology Hardware & Equipment | 1.04 | 1.36 | 1.25 | 1.19 | 1.04 | |
| Debt to Equity, Industry | ||||||
| Information Technology | 0.62 | 0.66 | 0.76 | 0.87 | 0.87 | |
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 attributable to Amphenol Corporation
= 4,337,300 ÷ 8,346,500 = 0.52
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. | Amphenol Corp. debt to equity ratio improved from 2021 to 2022 and from 2022 to 2023. |
Debt to Equity (including Operating Lease Liability)
Amphenol Corp., 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 thousands) | ||||||
| Current portion of long-term debt | 353,800) | 2,700) | 4,000) | 230,300) | 403,300) | |
| Long-term debt, less current portion | 3,983,500) | 4,575,000) | 4,795,900) | 3,636,200) | 3,203,400) | |
| Total debt | 4,337,300) | 4,577,700) | 4,799,900) | 3,866,500) | 3,606,700) | |
| Operating lease liabilities (included in Other accrued expenses) | 91,600) | 85,200) | 70,600) | 68,000) | 54,000) | |
| Operating lease liabilities (included in Other long-term liabilities) | 212,100) | 208,500) | 180,400) | 161,100) | 145,400) | |
| Total debt (including operating lease liability) | 4,641,000) | 4,871,400) | 5,050,900) | 4,095,600) | 3,806,100) | |
| Stockholders’ equity attributable to Amphenol Corporation | 8,346,500) | 7,015,600) | 6,302,000) | 5,384,900) | 4,530,300) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.56 | 0.69 | 0.80 | 0.76 | 0.84 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Apple Inc. | 1.99 | 2.61 | 2.16 | 1.87 | 1.19 | |
| Arista Networks Inc. | 0.01 | 0.01 | 0.02 | 0.03 | 0.03 | |
| Cisco Systems Inc. | 0.21 | 0.27 | 0.31 | 0.41 | 0.73 | |
| Super Micro Computer Inc. | 0.16 | 0.44 | 0.11 | 0.05 | 0.03 | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Technology Hardware & Equipment | 1.16 | 1.49 | 1.37 | 1.28 | 1.04 | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Information Technology | 0.68 | 0.73 | 0.83 | 0.94 | 0.89 | |
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 attributable to Amphenol Corporation
= 4,641,000 ÷ 8,346,500 = 0.56
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. | Amphenol Corp. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023. |
Debt to Capital
Amphenol Corp., 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 thousands) | ||||||
| Current portion of long-term debt | 353,800) | 2,700) | 4,000) | 230,300) | 403,300) | |
| Long-term debt, less current portion | 3,983,500) | 4,575,000) | 4,795,900) | 3,636,200) | 3,203,400) | |
| Total debt | 4,337,300) | 4,577,700) | 4,799,900) | 3,866,500) | 3,606,700) | |
| Stockholders’ equity attributable to Amphenol Corporation | 8,346,500) | 7,015,600) | 6,302,000) | 5,384,900) | 4,530,300) | |
| Total capital | 12,683,800) | 11,593,300) | 11,101,900) | 9,251,400) | 8,137,000) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.34 | 0.39 | 0.43 | 0.42 | 0.44 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Apple Inc. | 0.64 | 0.70 | 0.67 | 0.63 | 0.54 | |
| Arista Networks Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Cisco Systems Inc. | 0.16 | 0.19 | 0.22 | 0.28 | 0.42 | |
| Super Micro Computer Inc. | 0.13 | 0.30 | 0.08 | 0.03 | 0.02 | |
| Debt to Capital, Sector | ||||||
| Technology Hardware & Equipment | 0.51 | 0.58 | 0.56 | 0.54 | 0.51 | |
| Debt to Capital, Industry | ||||||
| Information Technology | 0.38 | 0.40 | 0.43 | 0.46 | 0.46 | |
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
= 4,337,300 ÷ 12,683,800 = 0.34
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. | Amphenol Corp. debt to capital ratio improved from 2021 to 2022 and from 2022 to 2023. |
Debt to Capital (including Operating Lease Liability)
Amphenol Corp., 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 thousands) | ||||||
| Current portion of long-term debt | 353,800) | 2,700) | 4,000) | 230,300) | 403,300) | |
| Long-term debt, less current portion | 3,983,500) | 4,575,000) | 4,795,900) | 3,636,200) | 3,203,400) | |
| Total debt | 4,337,300) | 4,577,700) | 4,799,900) | 3,866,500) | 3,606,700) | |
| Operating lease liabilities (included in Other accrued expenses) | 91,600) | 85,200) | 70,600) | 68,000) | 54,000) | |
| Operating lease liabilities (included in Other long-term liabilities) | 212,100) | 208,500) | 180,400) | 161,100) | 145,400) | |
| Total debt (including operating lease liability) | 4,641,000) | 4,871,400) | 5,050,900) | 4,095,600) | 3,806,100) | |
| Stockholders’ equity attributable to Amphenol Corporation | 8,346,500) | 7,015,600) | 6,302,000) | 5,384,900) | 4,530,300) | |
| Total capital (including operating lease liability) | 12,987,500) | 11,887,000) | 11,352,900) | 9,480,500) | 8,336,400) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.36 | 0.41 | 0.44 | 0.43 | 0.46 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Apple Inc. | 0.67 | 0.72 | 0.68 | 0.65 | 0.54 | |
| Arista Networks Inc. | 0.01 | 0.01 | 0.02 | 0.03 | 0.03 | |
| Cisco Systems Inc. | 0.18 | 0.21 | 0.24 | 0.29 | 0.42 | |
| Super Micro Computer Inc. | 0.14 | 0.30 | 0.10 | 0.05 | 0.02 | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Technology Hardware & Equipment | 0.54 | 0.60 | 0.58 | 0.56 | 0.51 | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Information Technology | 0.40 | 0.42 | 0.45 | 0.48 | 0.47 | |
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)
= 4,641,000 ÷ 12,987,500 = 0.36
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. | Amphenol Corp. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023. |
Debt to Assets
Amphenol Corp., 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 thousands) | ||||||
| Current portion of long-term debt | 353,800) | 2,700) | 4,000) | 230,300) | 403,300) | |
| Long-term debt, less current portion | 3,983,500) | 4,575,000) | 4,795,900) | 3,636,200) | 3,203,400) | |
| Total debt | 4,337,300) | 4,577,700) | 4,799,900) | 3,866,500) | 3,606,700) | |
| Total assets | 16,526,400) | 15,326,200) | 14,678,400) | 12,327,300) | 10,815,500) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.26 | 0.30 | 0.33 | 0.31 | 0.33 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Apple Inc. | 0.32 | 0.34 | 0.36 | 0.35 | 0.32 | |
| Arista Networks Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Cisco Systems Inc. | 0.08 | 0.10 | 0.12 | 0.15 | 0.25 | |
| Super Micro Computer Inc. | 0.08 | 0.19 | 0.04 | 0.02 | 0.01 | |
| Debt to Assets, Sector | ||||||
| Technology Hardware & Equipment | 0.26 | 0.29 | 0.30 | 0.30 | 0.30 | |
| Debt to Assets, Industry | ||||||
| Information Technology | 0.25 | 0.26 | 0.28 | 0.30 | 0.30 | |
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
= 4,337,300 ÷ 16,526,400 = 0.26
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. | Amphenol Corp. debt to assets ratio improved from 2021 to 2022 and from 2022 to 2023. |
Debt to Assets (including Operating Lease Liability)
Amphenol Corp., 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 thousands) | ||||||
| Current portion of long-term debt | 353,800) | 2,700) | 4,000) | 230,300) | 403,300) | |
| Long-term debt, less current portion | 3,983,500) | 4,575,000) | 4,795,900) | 3,636,200) | 3,203,400) | |
| Total debt | 4,337,300) | 4,577,700) | 4,799,900) | 3,866,500) | 3,606,700) | |
| Operating lease liabilities (included in Other accrued expenses) | 91,600) | 85,200) | 70,600) | 68,000) | 54,000) | |
| Operating lease liabilities (included in Other long-term liabilities) | 212,100) | 208,500) | 180,400) | 161,100) | 145,400) | |
| Total debt (including operating lease liability) | 4,641,000) | 4,871,400) | 5,050,900) | 4,095,600) | 3,806,100) | |
| Total assets | 16,526,400) | 15,326,200) | 14,678,400) | 12,327,300) | 10,815,500) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.28 | 0.32 | 0.34 | 0.33 | 0.35 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Apple Inc. | 0.35 | 0.38 | 0.39 | 0.38 | 0.32 | |
| Arista Networks Inc. | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | |
| Cisco Systems Inc. | 0.09 | 0.11 | 0.13 | 0.16 | 0.25 | |
| Super Micro Computer Inc. | 0.08 | 0.19 | 0.05 | 0.03 | 0.01 | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Technology Hardware & Equipment | 0.29 | 0.31 | 0.33 | 0.32 | 0.30 | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Information Technology | 0.28 | 0.29 | 0.31 | 0.32 | 0.31 | |
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
= 4,641,000 ÷ 16,526,400 = 0.28
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. | Amphenol Corp. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023. |
Financial Leverage
Amphenol Corp., 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 thousands) | ||||||
| Total assets | 16,526,400) | 15,326,200) | 14,678,400) | 12,327,300) | 10,815,500) | |
| Stockholders’ equity attributable to Amphenol Corporation | 8,346,500) | 7,015,600) | 6,302,000) | 5,384,900) | 4,530,300) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 1.98 | 2.18 | 2.33 | 2.29 | 2.39 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Apple Inc. | 5.67 | 6.96 | 5.56 | 4.96 | 3.74 | |
| Arista Networks Inc. | 1.38 | 1.39 | 1.44 | 1.43 | 1.45 | |
| Cisco Systems Inc. | 2.30 | 2.36 | 2.36 | 2.50 | 2.91 | |
| Super Micro Computer Inc. | 1.86 | 2.25 | 2.05 | 1.80 | 1.79 | |
| Financial Leverage, Sector | ||||||
| Technology Hardware & Equipment | 4.05 | 4.72 | 4.17 | 3.95 | 3.46 | |
| Financial Leverage, Industry | ||||||
| Information Technology | 2.43 | 2.55 | 2.71 | 2.89 | 2.86 | |
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 attributable to Amphenol Corporation
= 16,526,400 ÷ 8,346,500 = 1.98
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. | Amphenol Corp. financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023. |
Interest Coverage
Amphenol Corp., 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 thousands) | ||||||
| Net income attributable to Amphenol Corporation | 1,928,000) | 1,902,300) | 1,590,800) | 1,203,400) | 1,155,000) | |
| Add: Net income attributable to noncontrolling interest | 17,500) | 14,500) | 10,700) | 9,900) | 9,000) | |
| Less: Income from discontinued operations, net of income taxes | —) | —) | 21,400) | —) | —) | |
| Add: Income tax expense | 509,300) | 550,600) | 409,100) | 313,300) | 331,900) | |
| Add: Interest expense | 139,500) | 128,400) | 115,500) | 115,400) | 117,600) | |
| Earnings before interest and tax (EBIT) | 2,594,300) | 2,595,800) | 2,104,700) | 1,642,000) | 1,613,500) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 18.60 | 20.22 | 18.22 | 14.23 | 13.72 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Apple Inc. | 29.92 | 41.64 | 42.29 | 24.35 | 19.38 | |
| Arista Networks Inc. | — | — | — | — | — | |
| Cisco Systems Inc. | 36.87 | 41.21 | 31.56 | 24.88 | 17.96 | |
| Super Micro Computer Inc. | 72.55 | 53.71 | 48.81 | 40.01 | 13.97 | |
| Interest Coverage, Sector | ||||||
| Technology Hardware & Equipment | 31.25 | 42.09 | 41.08 | 24.67 | 19.29 | |
| Interest Coverage, Industry | ||||||
| Information Technology | 18.90 | 24.65 | 23.03 | 16.75 | 15.86 | |
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
= 2,594,300 ÷ 139,500 = 18.60
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. | Amphenol Corp. interest coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Fixed Charge Coverage
Amphenol Corp., 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 thousands) | ||||||
| Net income attributable to Amphenol Corporation | 1,928,000) | 1,902,300) | 1,590,800) | 1,203,400) | 1,155,000) | |
| Add: Net income attributable to noncontrolling interest | 17,500) | 14,500) | 10,700) | 9,900) | 9,000) | |
| Less: Income from discontinued operations, net of income taxes | —) | —) | 21,400) | —) | —) | |
| Add: Income tax expense | 509,300) | 550,600) | 409,100) | 313,300) | 331,900) | |
| Add: Interest expense | 139,500) | 128,400) | 115,500) | 115,400) | 117,600) | |
| Earnings before interest and tax (EBIT) | 2,594,300) | 2,595,800) | 2,104,700) | 1,642,000) | 1,613,500) | |
| Add: Operating lease cost | 127,100) | 121,400) | 118,200) | 98,700) | 97,600) | |
| Earnings before fixed charges and tax | 2,721,400) | 2,717,200) | 2,222,900) | 1,740,700) | 1,711,100) | |
| Interest expense | 139,500) | 128,400) | 115,500) | 115,400) | 117,600) | |
| Operating lease cost | 127,100) | 121,400) | 118,200) | 98,700) | 97,600) | |
| Fixed charges | 266,600) | 249,800) | 233,700) | 214,100) | 215,200) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 10.21 | 10.88 | 9.51 | 8.13 | 7.95 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Apple Inc. | 20.17 | 25.65 | 26.13 | 16.34 | 14.48 | |
| Arista Networks Inc. | 73.83 | 49.20 | 31.02 | 24.95 | 30.94 | |
| Cisco Systems Inc. | 18.98 | 20.30 | 16.92 | 14.79 | 12.28 | |
| Super Micro Computer Inc. | 40.95 | 24.03 | 12.52 | 10.45 | 7.48 | |
| Fixed Charge Coverage, Sector | ||||||
| Technology Hardware & Equipment | 20.34 | 25.07 | 24.67 | 16.09 | 14.08 | |
| Fixed Charge Coverage, Industry | ||||||
| Information Technology | 11.88 | 14.15 | 13.45 | 10.15 | 10.46 | |
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
= 2,721,400 ÷ 266,600 = 10.21
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. | Amphenol Corp. fixed charge coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |