Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
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Baxter International Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Solvency Ratios (Summary)
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
---|---|---|---|---|---|---|
Debt Ratios | ||||||
Debt to equity | ||||||
Debt to capital | ||||||
Debt to assets | ||||||
Financial leverage | ||||||
Coverage Ratios | ||||||
Interest coverage | ||||||
Fixed charge coverage |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
Solvency ratio | Description | The company |
---|---|---|
Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Baxter International Inc. debt to equity ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level. |
Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Baxter International Inc. debt to capital ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level. |
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Baxter International Inc. debt to assets ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level. |
Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Baxter International Inc. financial leverage ratio increased from 2013 to 2014 but then decreased significantly from 2014 to 2015. |
Solvency ratio | Description | The company |
---|---|---|
Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Baxter International Inc. interest coverage ratio deteriorated from 2013 to 2014 and from 2014 to 2015. |
Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Baxter International Inc. fixed charge coverage ratio deteriorated from 2013 to 2014 and from 2014 to 2015. |
Debt to Equity
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Short-term debt | ||||||
Current maturities of long-term debt and lease obligations | ||||||
Long-term debt and lease obligations, excluding current maturities | ||||||
Total debt | ||||||
Total Baxter shareholders’ equity | ||||||
Solvency Ratio | ||||||
Debt to equity1 | ||||||
Benchmarks | ||||||
Debt to Equity, Competitors2 | ||||||
Abbott Laboratories | ||||||
Cigna Group | ||||||
CVS Health Corp. | ||||||
Elevance Health Inc. | ||||||
Humana Inc. | ||||||
Intuitive Surgical Inc. | ||||||
Medtronic PLC | ||||||
UnitedHealth Group Inc. |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
1 2015 Calculation
Debt to equity = Total debt ÷ Total Baxter shareholders’ equity
= ÷ =
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. | Baxter International Inc. debt to equity ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level. |
Debt to Capital
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Short-term debt | ||||||
Current maturities of long-term debt and lease obligations | ||||||
Long-term debt and lease obligations, excluding current maturities | ||||||
Total debt | ||||||
Total Baxter shareholders’ equity | ||||||
Total capital | ||||||
Solvency Ratio | ||||||
Debt to capital1 | ||||||
Benchmarks | ||||||
Debt to Capital, Competitors2 | ||||||
Abbott Laboratories | ||||||
Cigna Group | ||||||
CVS Health Corp. | ||||||
Elevance Health Inc. | ||||||
Humana Inc. | ||||||
Intuitive Surgical Inc. | ||||||
Medtronic PLC | ||||||
UnitedHealth Group Inc. |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
1 2015 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =
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. | Baxter International Inc. debt to capital ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level. |
Debt to Assets
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Short-term debt | ||||||
Current maturities of long-term debt and lease obligations | ||||||
Long-term debt and lease obligations, excluding current maturities | ||||||
Total debt | ||||||
Total assets | ||||||
Solvency Ratio | ||||||
Debt to assets1 | ||||||
Benchmarks | ||||||
Debt to Assets, Competitors2 | ||||||
Abbott Laboratories | ||||||
Cigna Group | ||||||
CVS Health Corp. | ||||||
Elevance Health Inc. | ||||||
Humana Inc. | ||||||
Intuitive Surgical Inc. | ||||||
Medtronic PLC | ||||||
UnitedHealth Group Inc. |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
1 2015 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =
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. | Baxter International Inc. debt to assets ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level. |
Financial Leverage
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Total assets | ||||||
Total Baxter shareholders’ equity | ||||||
Solvency Ratio | ||||||
Financial leverage1 | ||||||
Benchmarks | ||||||
Financial Leverage, Competitors2 | ||||||
Abbott Laboratories | ||||||
Cigna Group | ||||||
CVS Health Corp. | ||||||
Elevance Health Inc. | ||||||
Humana Inc. | ||||||
Intuitive Surgical Inc. | ||||||
Medtronic PLC | ||||||
UnitedHealth Group Inc. |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
1 2015 Calculation
Financial leverage = Total assets ÷ Total Baxter shareholders’ equity
= ÷ =
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. | Baxter International Inc. financial leverage ratio increased from 2013 to 2014 but then decreased significantly from 2014 to 2015. |
Interest Coverage
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Net income attributable to Baxter | ||||||
Add: Net income attributable to noncontrolling interest | ||||||
Less: Income from discontinued operations, net of tax | ||||||
Add: Income tax expense | ||||||
Add: Interest expense | ||||||
Earnings before interest and tax (EBIT) | ||||||
Solvency Ratio | ||||||
Interest coverage1 | ||||||
Benchmarks | ||||||
Interest Coverage, Competitors2 | ||||||
Abbott Laboratories | ||||||
Cigna Group | ||||||
CVS Health Corp. | ||||||
Elevance Health Inc. | ||||||
Humana Inc. | ||||||
Intuitive Surgical Inc. | ||||||
Medtronic PLC | ||||||
UnitedHealth Group Inc. |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
1 2015 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =
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. | Baxter International Inc. interest coverage ratio deteriorated from 2013 to 2014 and from 2014 to 2015. |
Fixed Charge Coverage
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Net income attributable to Baxter | ||||||
Add: Net income attributable to noncontrolling interest | ||||||
Less: Income from discontinued operations, net of tax | ||||||
Add: Income tax expense | ||||||
Add: Interest expense | ||||||
Earnings before interest and tax (EBIT) | ||||||
Add: Operating lease rent expense | ||||||
Earnings before fixed charges and tax | ||||||
Interest expense | ||||||
Operating lease rent expense | ||||||
Fixed charges | ||||||
Solvency Ratio | ||||||
Fixed charge coverage1 | ||||||
Benchmarks | ||||||
Fixed Charge Coverage, Competitors2 | ||||||
Abbott Laboratories | ||||||
Cigna Group | ||||||
CVS Health Corp. | ||||||
Elevance Health Inc. | ||||||
Humana Inc. | ||||||
Intuitive Surgical Inc. | ||||||
Medtronic PLC | ||||||
UnitedHealth Group Inc. |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
1 2015 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =
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. | Baxter International Inc. fixed charge coverage ratio deteriorated from 2013 to 2014 and from 2014 to 2015. |