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)
Hubbell Inc., solvency ratios
Based on: 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), 10-K (reporting date: 2018-12-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Hubbell Inc. debt to equity ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Hubbell Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Hubbell Inc. debt to capital ratio improved from 2020 to 2021 and from 2021 to 2022. |
| 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. | Hubbell Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Hubbell Inc. debt to assets ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Hubbell Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Hubbell Inc. financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Hubbell Inc. interest coverage ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Hubbell Inc. fixed charge coverage ratio improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Equity
Hubbell Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term debt and current portion of long-term debt | 4,700) | 9,700) | 153,100) | 65,400) | 56,100) | |
| Long-term debt, excluding current portion | 1,437,900) | 1,435,500) | 1,436,900) | 1,506,000) | 1,737,100) | |
| Total debt | 1,442,600) | 1,445,200) | 1,590,000) | 1,571,400) | 1,793,200) | |
| Total Hubbell Incorporated shareholders’ equity | 2,360,900) | 2,229,800) | 2,070,000) | 1,947,100) | 1,780,600) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.61 | 0.65 | 0.77 | 0.81 | 1.01 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Boeing Co. | — | — | — | — | — | |
| Caterpillar Inc. | 2.33 | 2.29 | 2.42 | 2.58 | — | |
| Eaton Corp. plc | 0.51 | 0.52 | 0.54 | 0.52 | — | |
| GE Aerospace | 0.89 | 0.87 | 2.11 | 3.21 | — | |
| Honeywell International Inc. | 1.17 | 1.06 | 1.28 | 0.87 | — | |
| Lockheed Martin Corp. | 1.68 | 1.07 | 2.02 | 4.05 | — | |
| RTX Corp. | 0.44 | 0.43 | 0.44 | 1.04 | — | |
| Debt to Equity, Sector | ||||||
| Capital Goods | 1.33 | 1.26 | 1.75 | 2.08 | — | |
| Debt to Equity, Industry | ||||||
| Industrials | 1.32 | 1.25 | 1.73 | 1.86 | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Debt to equity = Total debt ÷ Total Hubbell Incorporated shareholders’ equity
= 1,442,600 ÷ 2,360,900 = 0.61
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. | Hubbell Inc. debt to equity ratio improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Equity (including Operating Lease Liability)
Hubbell Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term debt and current portion of long-term debt | 4,700) | 9,700) | 153,100) | 65,400) | 56,100) | |
| Long-term debt, excluding current portion | 1,437,900) | 1,435,500) | 1,436,900) | 1,506,000) | 1,737,100) | |
| Total debt | 1,442,600) | 1,445,200) | 1,590,000) | 1,571,400) | 1,793,200) | |
| Current operating lease liabilities | 30,500) | 27,100) | 32,100) | 29,600) | —) | |
| Non-current operating lease liabilities | 84,900) | 58,300) | 74,900) | 71,700) | —) | |
| Total debt (including operating lease liability) | 1,558,000) | 1,530,600) | 1,697,000) | 1,672,700) | 1,793,200) | |
| Total Hubbell Incorporated shareholders’ equity | 2,360,900) | 2,229,800) | 2,070,000) | 1,947,100) | 1,780,600) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.66 | 0.69 | 0.82 | 0.86 | 1.01 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Boeing Co. | — | — | — | — | — | |
| Caterpillar Inc. | 2.37 | 2.33 | 2.46 | 2.62 | — | |
| Eaton Corp. plc | 0.54 | 0.55 | 0.57 | 0.55 | — | |
| GE Aerospace | 0.96 | 0.94 | 2.20 | 3.32 | — | |
| Honeywell International Inc. | 1.23 | 1.11 | 1.32 | 0.90 | — | |
| Lockheed Martin Corp. | 1.81 | 1.19 | 2.21 | 4.40 | — | |
| RTX Corp. | 0.47 | 0.46 | 0.47 | 1.11 | — | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Capital Goods | 1.39 | 1.32 | 1.81 | 2.17 | — | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Industrials | 1.47 | 1.39 | 1.89 | 1.96 | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Hubbell Incorporated shareholders’ equity
= 1,558,000 ÷ 2,360,900 = 0.66
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. | Hubbell Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Capital
Hubbell Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term debt and current portion of long-term debt | 4,700) | 9,700) | 153,100) | 65,400) | 56,100) | |
| Long-term debt, excluding current portion | 1,437,900) | 1,435,500) | 1,436,900) | 1,506,000) | 1,737,100) | |
| Total debt | 1,442,600) | 1,445,200) | 1,590,000) | 1,571,400) | 1,793,200) | |
| Total Hubbell Incorporated shareholders’ equity | 2,360,900) | 2,229,800) | 2,070,000) | 1,947,100) | 1,780,600) | |
| Total capital | 3,803,500) | 3,675,000) | 3,660,000) | 3,518,500) | 3,573,800) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.38 | 0.39 | 0.43 | 0.45 | 0.50 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Boeing Co. | 1.39 | 1.35 | 1.40 | 1.46 | — | |
| Caterpillar Inc. | 0.70 | 0.70 | 0.71 | 0.72 | — | |
| Eaton Corp. plc | 0.34 | 0.34 | 0.35 | 0.34 | — | |
| GE Aerospace | 0.47 | 0.47 | 0.68 | 0.76 | — | |
| Honeywell International Inc. | 0.54 | 0.51 | 0.56 | 0.46 | — | |
| Lockheed Martin Corp. | 0.63 | 0.52 | 0.67 | 0.80 | — | |
| RTX Corp. | 0.31 | 0.30 | 0.31 | 0.51 | — | |
| Debt to Capital, Sector | ||||||
| Capital Goods | 0.57 | 0.56 | 0.64 | 0.68 | — | |
| Debt to Capital, Industry | ||||||
| Industrials | 0.57 | 0.56 | 0.63 | 0.65 | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 1,442,600 ÷ 3,803,500 = 0.38
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. | Hubbell Inc. debt to capital ratio improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Capital (including Operating Lease Liability)
Hubbell Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term debt and current portion of long-term debt | 4,700) | 9,700) | 153,100) | 65,400) | 56,100) | |
| Long-term debt, excluding current portion | 1,437,900) | 1,435,500) | 1,436,900) | 1,506,000) | 1,737,100) | |
| Total debt | 1,442,600) | 1,445,200) | 1,590,000) | 1,571,400) | 1,793,200) | |
| Current operating lease liabilities | 30,500) | 27,100) | 32,100) | 29,600) | —) | |
| Non-current operating lease liabilities | 84,900) | 58,300) | 74,900) | 71,700) | —) | |
| Total debt (including operating lease liability) | 1,558,000) | 1,530,600) | 1,697,000) | 1,672,700) | 1,793,200) | |
| Total Hubbell Incorporated shareholders’ equity | 2,360,900) | 2,229,800) | 2,070,000) | 1,947,100) | 1,780,600) | |
| Total capital (including operating lease liability) | 3,918,900) | 3,760,400) | 3,767,000) | 3,619,800) | 3,573,800) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.40 | 0.41 | 0.45 | 0.46 | 0.50 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Boeing Co. | 1.37 | 1.34 | 1.39 | 1.43 | — | |
| Caterpillar Inc. | 0.70 | 0.70 | 0.71 | 0.72 | — | |
| Eaton Corp. plc | 0.35 | 0.36 | 0.36 | 0.35 | — | |
| GE Aerospace | 0.49 | 0.49 | 0.69 | 0.77 | — | |
| Honeywell International Inc. | 0.55 | 0.53 | 0.57 | 0.47 | — | |
| Lockheed Martin Corp. | 0.64 | 0.54 | 0.69 | 0.81 | — | |
| RTX Corp. | 0.32 | 0.31 | 0.32 | 0.53 | — | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Capital Goods | 0.58 | 0.57 | 0.64 | 0.68 | — | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Industrials | 0.60 | 0.58 | 0.65 | 0.66 | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 1,558,000 ÷ 3,918,900 = 0.40
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. | Hubbell Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Assets
Hubbell Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term debt and current portion of long-term debt | 4,700) | 9,700) | 153,100) | 65,400) | 56,100) | |
| Long-term debt, excluding current portion | 1,437,900) | 1,435,500) | 1,436,900) | 1,506,000) | 1,737,100) | |
| Total debt | 1,442,600) | 1,445,200) | 1,590,000) | 1,571,400) | 1,793,200) | |
| Total assets | 5,402,600) | 5,281,500) | 5,085,100) | 4,903,000) | 4,872,100) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.27 | 0.27 | 0.31 | 0.32 | 0.37 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Boeing Co. | 0.42 | 0.42 | 0.42 | 0.20 | — | |
| Caterpillar Inc. | 0.45 | 0.46 | 0.47 | 0.48 | — | |
| Eaton Corp. plc | 0.25 | 0.25 | 0.25 | 0.25 | — | |
| GE Aerospace | 0.17 | 0.18 | 0.30 | 0.34 | — | |
| Honeywell International Inc. | 0.31 | 0.30 | 0.35 | 0.27 | — | |
| Lockheed Martin Corp. | 0.29 | 0.23 | 0.24 | 0.27 | — | |
| RTX Corp. | 0.20 | 0.20 | 0.20 | 0.31 | — | |
| Debt to Assets, Sector | ||||||
| Capital Goods | 0.28 | 0.28 | 0.32 | 0.31 | — | |
| Debt to Assets, Industry | ||||||
| Industrials | 0.29 | 0.29 | 0.32 | 0.32 | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Debt to assets = Total debt ÷ Total assets
= 1,442,600 ÷ 5,402,600 = 0.27
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. | Hubbell Inc. debt to assets ratio improved from 2020 to 2021 and from 2021 to 2022. |
Debt to Assets (including Operating Lease Liability)
Hubbell Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Short-term debt and current portion of long-term debt | 4,700) | 9,700) | 153,100) | 65,400) | 56,100) | |
| Long-term debt, excluding current portion | 1,437,900) | 1,435,500) | 1,436,900) | 1,506,000) | 1,737,100) | |
| Total debt | 1,442,600) | 1,445,200) | 1,590,000) | 1,571,400) | 1,793,200) | |
| Current operating lease liabilities | 30,500) | 27,100) | 32,100) | 29,600) | —) | |
| Non-current operating lease liabilities | 84,900) | 58,300) | 74,900) | 71,700) | —) | |
| Total debt (including operating lease liability) | 1,558,000) | 1,530,600) | 1,697,000) | 1,672,700) | 1,793,200) | |
| Total assets | 5,402,600) | 5,281,500) | 5,085,100) | 4,903,000) | 4,872,100) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.29 | 0.29 | 0.33 | 0.34 | 0.37 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Boeing Co. | 0.43 | 0.43 | 0.43 | 0.21 | — | |
| Caterpillar Inc. | 0.46 | 0.46 | 0.48 | 0.49 | — | |
| Eaton Corp. plc | 0.26 | 0.27 | 0.27 | 0.27 | — | |
| GE Aerospace | 0.19 | 0.19 | 0.31 | 0.35 | — | |
| Honeywell International Inc. | 0.33 | 0.32 | 0.36 | 0.28 | — | |
| Lockheed Martin Corp. | 0.32 | 0.26 | 0.26 | 0.29 | — | |
| RTX Corp. | 0.21 | 0.21 | 0.21 | 0.33 | — | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Capital Goods | 0.30 | 0.29 | 0.33 | 0.33 | — | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Industrials | 0.33 | 0.32 | 0.35 | 0.34 | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 1,558,000 ÷ 5,402,600 = 0.29
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. | Hubbell Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022. |
Financial Leverage
Hubbell Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total assets | 5,402,600) | 5,281,500) | 5,085,100) | 4,903,000) | 4,872,100) | |
| Total Hubbell Incorporated shareholders’ equity | 2,360,900) | 2,229,800) | 2,070,000) | 1,947,100) | 1,780,600) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 2.29 | 2.37 | 2.46 | 2.52 | 2.74 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Boeing Co. | — | — | — | — | — | |
| Caterpillar Inc. | 5.16 | 5.02 | 5.11 | 5.38 | — | |
| Eaton Corp. plc | 2.06 | 2.07 | 2.13 | 2.04 | — | |
| GE Aerospace | 5.16 | 4.93 | 7.13 | 9.40 | — | |
| Honeywell International Inc. | 3.73 | 3.47 | 3.68 | 3.17 | — | |
| Lockheed Martin Corp. | 5.71 | 4.64 | 8.43 | 15.20 | — | |
| RTX Corp. | 2.19 | 2.21 | 2.25 | 3.34 | — | |
| Financial Leverage, Sector | ||||||
| Capital Goods | 4.71 | 4.55 | 5.54 | 6.65 | — | |
| Financial Leverage, Industry | ||||||
| Industrials | 4.49 | 4.33 | 5.35 | 5.76 | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Financial leverage = Total assets ÷ Total Hubbell Incorporated shareholders’ equity
= 5,402,600 ÷ 2,360,900 = 2.29
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. | Hubbell Inc. financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022. |
Interest Coverage
Hubbell Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income attributable to Hubbell Incorporated | 545,900) | 399,500) | 351,200) | 400,900) | 360,200) | |
| Add: Net income attributable to noncontrolling interest | 5,500) | 6,100) | 4,800) | 6,500) | 5,900) | |
| Less: Income from discontinued operations, net of tax | 34,600) | 34,500) | —) | —) | —) | |
| Add: Income tax expense | 140,200) | 88,200) | 97,500) | 113,100) | 100,900) | |
| Add: Interest expense, net | 49,600) | 54,700) | 60,300) | 69,400) | 72,400) | |
| Earnings before interest and tax (EBIT) | 706,600) | 514,000) | 513,800) | 589,900) | 539,400) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 14.25 | 9.40 | 8.52 | 8.50 | 7.45 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Boeing Co. | -0.98 | -0.88 | -5.71 | -2.19 | — | |
| Caterpillar Inc. | 20.80 | 17.88 | 8.80 | 19.62 | — | |
| Eaton Corp. plc | 21.22 | 21.11 | 12.72 | 11.98 | — | |
| GE Aerospace | 1.88 | -0.96 | 2.59 | 1.27 | — | |
| Honeywell International Inc. | 16.41 | 22.09 | 17.75 | 22.17 | — | |
| Lockheed Martin Corp. | 11.72 | 14.27 | 14.93 | 12.09 | — | |
| RTX Corp. | 5.64 | 4.71 | -0.65 | 5.65 | — | |
| Interest Coverage, Sector | ||||||
| Capital Goods | 4.84 | 3.98 | 1.99 | 4.85 | — | |
| Interest Coverage, Industry | ||||||
| Industrials | 5.53 | 6.00 | 2.04 | 4.37 | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Interest coverage = EBIT ÷ Interest expense
= 706,600 ÷ 49,600 = 14.25
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. | Hubbell Inc. interest coverage ratio improved from 2020 to 2021 and from 2021 to 2022. |
Fixed Charge Coverage
Hubbell Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income attributable to Hubbell Incorporated | 545,900) | 399,500) | 351,200) | 400,900) | 360,200) | |
| Add: Net income attributable to noncontrolling interest | 5,500) | 6,100) | 4,800) | 6,500) | 5,900) | |
| Less: Income from discontinued operations, net of tax | 34,600) | 34,500) | —) | —) | —) | |
| Add: Income tax expense | 140,200) | 88,200) | 97,500) | 113,100) | 100,900) | |
| Add: Interest expense, net | 49,600) | 54,700) | 60,300) | 69,400) | 72,400) | |
| Earnings before interest and tax (EBIT) | 706,600) | 514,000) | 513,800) | 589,900) | 539,400) | |
| Add: Rent expense for operating leases | 35,700) | 34,100) | 37,100) | 39,100) | 44,800) | |
| Earnings before fixed charges and tax | 742,300) | 548,100) | 550,900) | 629,000) | 584,200) | |
| Interest expense, net | 49,600) | 54,700) | 60,300) | 69,400) | 72,400) | |
| Rent expense for operating leases | 35,700) | 34,100) | 37,100) | 39,100) | 44,800) | |
| Fixed charges | 85,300) | 88,800) | 97,400) | 108,500) | 117,200) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 8.70 | 6.17 | 5.66 | 5.80 | 4.98 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Boeing Co. | -0.70 | -0.64 | -4.75 | -1.19 | — | |
| Caterpillar Inc. | 14.92 | 12.73 | 6.58 | 13.01 | — | |
| Eaton Corp. plc | 10.01 | 10.40 | 6.24 | 7.45 | — | |
| GE Aerospace | 1.35 | -0.22 | 1.93 | 1.09 | — | |
| Honeywell International Inc. | 11.00 | 13.67 | 11.49 | 14.06 | — | |
| Lockheed Martin Corp. | 8.44 | 9.95 | 11.12 | 9.12 | — | |
| RTX Corp. | 4.40 | 3.66 | -0.22 | 4.31 | — | |
| Fixed Charge Coverage, Sector | ||||||
| Capital Goods | 3.61 | 3.06 | 1.66 | 3.63 | — | |
| Fixed Charge Coverage, Industry | ||||||
| Industrials | 3.58 | 3.93 | 1.59 | 2.96 | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 742,300 ÷ 85,300 = 8.70
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. | Hubbell Inc. fixed charge coverage ratio improved from 2020 to 2021 and from 2021 to 2022. |