Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Baxter International Inc., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
| 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 improved from Q4 2015 to Q1 2016 but then slightly deteriorated from Q1 2016 to Q2 2016. |
| 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 improved from Q4 2015 to Q1 2016 but then slightly deteriorated from Q1 2016 to Q2 2016. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Baxter International Inc. debt to assets ratio improved from Q4 2015 to Q1 2016 but then slightly deteriorated from Q1 2016 to Q2 2016. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Baxter International Inc. financial leverage ratio decreased from Q4 2015 to Q1 2016 and from Q1 2016 to Q2 2016. |
Debt to Equity
Baxter International Inc., debt to equity calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Short-term debt | 791) | 817) | 1,775) | 1,962) | 1,493) | 2,151) | 913) | 392) | 186) | 49) | 181) | 42) | 33) | 333) | 27) | 16) | 385) | 313) | 256) | 87) | 13) | 14) | |||||||
| Current maturities of long-term debt and lease obligations | 283) | 472) | 810) | 976) | 671) | 174) | 786) | 1,123) | 1,125) | 1,128) | 859) | 372) | 378) | 377) | 323) | 317) | 497) | 485) | 190) | 8) | 9) | 9) | |||||||
| Long-term debt and lease obligations, excluding current maturities | 2,094) | 2,068) | 3,935) | 3,791) | 12,054) | 7,680) | 7,606) | 7,753) | 7,528) | 7,517) | 8,126) | 8,652) | 8,624) | 5,157) | 5,580) | 5,614) | 4,432) | 4,411) | 4,749) | 4,447) | 4,378) | 4,351) | |||||||
| Total debt | 3,168) | 3,357) | 6,520) | 6,729) | 14,218) | 10,005) | 9,305) | 9,268) | 8,839) | 8,694) | 9,166) | 9,066) | 9,035) | 5,867) | 5,930) | 5,947) | 5,314) | 5,209) | 5,195) | 4,542) | 4,400) | 4,374) | |||||||
| Total Baxter shareholders’ equity | 8,509) | 9,019) | 8,846) | 7,824) | 7,988) | 7,258) | 8,120) | 8,404) | 8,662) | 8,671) | 8,463) | 7,749) | 7,282) | 6,961) | 6,938) | 7,129) | 6,551) | 6,725) | 6,585) | 6,952) | 6,997) | 6,734) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Debt to equity1 | 0.37 | 0.37 | 0.74 | 0.86 | 1.78 | 1.38 | 1.15 | 1.10 | 1.02 | 1.00 | 1.08 | 1.17 | 1.24 | 0.84 | 0.85 | 0.83 | 0.81 | 0.77 | 0.79 | 0.65 | 0.63 | 0.65 | |||||||
| 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-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Q2 2016 Calculation
Debt to equity = Total debt ÷ Total Baxter shareholders’ equity
= 3,168 ÷ 8,509 = 0.37
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 improved from Q4 2015 to Q1 2016 but then slightly deteriorated from Q1 2016 to Q2 2016. |
Debt to Capital
Baxter International Inc., debt to capital calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Short-term debt | 791) | 817) | 1,775) | 1,962) | 1,493) | 2,151) | 913) | 392) | 186) | 49) | 181) | 42) | 33) | 333) | 27) | 16) | 385) | 313) | 256) | 87) | 13) | 14) | |||||||
| Current maturities of long-term debt and lease obligations | 283) | 472) | 810) | 976) | 671) | 174) | 786) | 1,123) | 1,125) | 1,128) | 859) | 372) | 378) | 377) | 323) | 317) | 497) | 485) | 190) | 8) | 9) | 9) | |||||||
| Long-term debt and lease obligations, excluding current maturities | 2,094) | 2,068) | 3,935) | 3,791) | 12,054) | 7,680) | 7,606) | 7,753) | 7,528) | 7,517) | 8,126) | 8,652) | 8,624) | 5,157) | 5,580) | 5,614) | 4,432) | 4,411) | 4,749) | 4,447) | 4,378) | 4,351) | |||||||
| Total debt | 3,168) | 3,357) | 6,520) | 6,729) | 14,218) | 10,005) | 9,305) | 9,268) | 8,839) | 8,694) | 9,166) | 9,066) | 9,035) | 5,867) | 5,930) | 5,947) | 5,314) | 5,209) | 5,195) | 4,542) | 4,400) | 4,374) | |||||||
| Total Baxter shareholders’ equity | 8,509) | 9,019) | 8,846) | 7,824) | 7,988) | 7,258) | 8,120) | 8,404) | 8,662) | 8,671) | 8,463) | 7,749) | 7,282) | 6,961) | 6,938) | 7,129) | 6,551) | 6,725) | 6,585) | 6,952) | 6,997) | 6,734) | |||||||
| Total capital | 11,677) | 12,376) | 15,366) | 14,553) | 22,206) | 17,263) | 17,425) | 17,672) | 17,501) | 17,365) | 17,629) | 16,815) | 16,317) | 12,828) | 12,868) | 13,076) | 11,865) | 11,934) | 11,780) | 11,494) | 11,397) | 11,108) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Debt to capital1 | 0.27 | 0.27 | 0.42 | 0.46 | 0.64 | 0.58 | 0.53 | 0.52 | 0.51 | 0.50 | 0.52 | 0.54 | 0.55 | 0.46 | 0.46 | 0.45 | 0.45 | 0.44 | 0.44 | 0.40 | 0.39 | 0.39 | |||||||
| 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-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Q2 2016 Calculation
Debt to capital = Total debt ÷ Total capital
= 3,168 ÷ 11,677 = 0.27
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 improved from Q4 2015 to Q1 2016 but then slightly deteriorated from Q1 2016 to Q2 2016. |
Debt to Assets
Baxter International Inc., debt to assets calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Short-term debt | 791) | 817) | 1,775) | 1,962) | 1,493) | 2,151) | 913) | 392) | 186) | 49) | 181) | 42) | 33) | 333) | 27) | 16) | 385) | 313) | 256) | 87) | 13) | 14) | |||||||
| Current maturities of long-term debt and lease obligations | 283) | 472) | 810) | 976) | 671) | 174) | 786) | 1,123) | 1,125) | 1,128) | 859) | 372) | 378) | 377) | 323) | 317) | 497) | 485) | 190) | 8) | 9) | 9) | |||||||
| Long-term debt and lease obligations, excluding current maturities | 2,094) | 2,068) | 3,935) | 3,791) | 12,054) | 7,680) | 7,606) | 7,753) | 7,528) | 7,517) | 8,126) | 8,652) | 8,624) | 5,157) | 5,580) | 5,614) | 4,432) | 4,411) | 4,749) | 4,447) | 4,378) | 4,351) | |||||||
| Total debt | 3,168) | 3,357) | 6,520) | 6,729) | 14,218) | 10,005) | 9,305) | 9,268) | 8,839) | 8,694) | 9,166) | 9,066) | 9,035) | 5,867) | 5,930) | 5,947) | 5,314) | 5,209) | 5,195) | 4,542) | 4,400) | 4,374) | |||||||
| Total assets | 15,982) | 17,350) | 20,975) | 20,172) | 30,015) | 24,861) | 25,917) | 25,563) | 25,629) | 25,261) | 25,869) | 25,250) | 23,751) | 20,318) | 20,390) | 19,825) | 18,446) | 18,784) | 19,073) | 17,843) | 17,741) | 17,413) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Debt to assets1 | 0.20 | 0.19 | 0.31 | 0.33 | 0.47 | 0.40 | 0.36 | 0.36 | 0.34 | 0.34 | 0.35 | 0.36 | 0.38 | 0.29 | 0.29 | 0.30 | 0.29 | 0.28 | 0.27 | 0.25 | 0.25 | 0.25 | |||||||
| 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-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Q2 2016 Calculation
Debt to assets = Total debt ÷ Total assets
= 3,168 ÷ 15,982 = 0.20
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 improved from Q4 2015 to Q1 2016 but then slightly deteriorated from Q1 2016 to Q2 2016. |
Financial Leverage
Baxter International Inc., financial leverage calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Total assets | 15,982) | 17,350) | 20,975) | 20,172) | 30,015) | 24,861) | 25,917) | 25,563) | 25,629) | 25,261) | 25,869) | 25,250) | 23,751) | 20,318) | 20,390) | 19,825) | 18,446) | 18,784) | 19,073) | 17,843) | 17,741) | 17,413) | |||||||
| Total Baxter shareholders’ equity | 8,509) | 9,019) | 8,846) | 7,824) | 7,988) | 7,258) | 8,120) | 8,404) | 8,662) | 8,671) | 8,463) | 7,749) | 7,282) | 6,961) | 6,938) | 7,129) | 6,551) | 6,725) | 6,585) | 6,952) | 6,997) | 6,734) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Financial leverage1 | 1.88 | 1.92 | 2.37 | 2.58 | 3.76 | 3.43 | 3.19 | 3.04 | 2.96 | 2.91 | 3.06 | 3.26 | 3.26 | 2.92 | 2.94 | 2.78 | 2.82 | 2.79 | 2.90 | 2.57 | 2.54 | 2.59 | |||||||
| 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-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Q2 2016 Calculation
Financial leverage = Total assets ÷ Total Baxter shareholders’ equity
= 15,982 ÷ 8,509 = 1.88
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 decreased from Q4 2015 to Q1 2016 and from Q1 2016 to Q2 2016. |