Stock Analysis on Net

Hubbell Inc. (NYSE:HUBB)

This company has been moved to the archive! The financial data has not been updated since November 1, 2023.

Analysis of Solvency Ratios
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

Hubbell Inc., solvency ratios (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Debt Ratios
Debt to equity 0.53 0.55 0.58 0.61 0.62 0.64 0.65 0.65 0.72 0.74 0.86 0.77 0.72 0.90 0.89 0.81 0.92 0.97 1.00 1.01 1.10 1.18 1.25
Debt to capital 0.35 0.35 0.37 0.38 0.38 0.39 0.39 0.39 0.42 0.43 0.46 0.43 0.42 0.47 0.47 0.45 0.48 0.49 0.50 0.50 0.52 0.54 0.56
Debt to assets 0.25 0.26 0.26 0.27 0.27 0.28 0.28 0.27 0.30 0.30 0.34 0.31 0.30 0.35 0.34 0.32 0.34 0.35 0.36 0.37 0.38 0.40 0.42
Financial leverage 2.11 2.15 2.22 2.29 2.30 2.32 2.34 2.37 2.42 2.43 2.54 2.46 2.42 2.58 2.59 2.52 2.67 2.74 2.75 2.74 2.85 2.95 2.99
Coverage Ratios
Interest coverage 25.23 21.06 17.42 14.25 13.19 11.75 10.44 9.40 8.82 8.73 8.44 8.52 8.60 8.81 8.80 8.50 8.25 7.74 7.74 7.45

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.
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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Hubbell Inc. debt to assets ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Hubbell Inc. financial leverage ratio decreased from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Debt to Equity

Hubbell Inc., debt to equity calculation (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Short-term debt and current portion of long-term debt 3,300 1,800 4,700 4,700 4,000 5,800 7,800 9,700 128,900 137,600 360,800 153,100 21,900 145,200 106,700 65,400 35,900 54,200 77,300 56,100 130,300 91,100 177,500
Long-term debt, excluding current portion 1,439,700 1,439,100 1,438,500 1,437,900 1,437,300 1,436,700 1,436,100 1,435,500 1,434,900 1,434,200 1,433,700 1,436,900 1,436,300 1,610,400 1,597,300 1,506,000 1,714,100 1,722,800 1,731,500 1,737,100 1,792,500 1,897,600 1,903,200
Total debt 1,443,000 1,440,900 1,443,200 1,442,600 1,441,300 1,442,500 1,443,900 1,445,200 1,563,800 1,571,800 1,794,500 1,590,000 1,458,200 1,755,600 1,704,000 1,571,400 1,750,000 1,777,000 1,808,800 1,793,200 1,922,800 1,988,700 2,080,700
 
Total Hubbell Incorporated shareholders’ equity 2,739,100 2,620,700 2,472,700 2,360,900 2,318,700 2,256,900 2,213,300 2,229,800 2,168,800 2,125,700 2,082,700 2,070,000 2,016,800 1,959,900 1,914,900 1,947,100 1,903,100 1,835,900 1,808,100 1,780,600 1,754,800 1,684,900 1,662,000
Solvency Ratio
Debt to equity1 0.53 0.55 0.58 0.61 0.62 0.64 0.65 0.65 0.72 0.74 0.86 0.77 0.72 0.90 0.89 0.81 0.92 0.97 1.00 1.01 1.10 1.18 1.25
Benchmarks
Debt to Equity, Competitors2
Boeing Co. 117.95
Caterpillar Inc. 1.81 2.07 2.04 2.33 2.34 2.35 2.20 2.29 2.21 2.23 2.30 2.42 2.55 2.81 2.61 2.58 2.54 2.45 2.32
Eaton Corp. plc 0.50 0.52 0.50 0.51 0.56 0.59 0.58 0.52 0.57 0.79 0.68 0.54 0.57 0.58 0.59 0.52 0.51 0.50 0.47
GE Aerospace 0.73 0.70 0.71 0.89 0.97 0.94 0.86 0.87 1.68 1.90 2.12 2.11 2.39 2.43 2.41 3.21 3.34 2.95 3.06
Honeywell International Inc. 1.18 1.24 1.13 1.17 0.96 1.09 1.05 1.06 1.19 1.19 1.19 1.28 1.23 1.22 0.91 0.87 1.03 0.91 0.86
Lockheed Martin Corp. 1.88 1.90 1.62 1.68 0.96 1.02 1.16 1.07 1.21 1.87 1.93 2.02 2.56 3.38 3.68 4.05 3.48 4.75 5.65
RTX Corp. 0.51 0.49 0.47 0.44 0.48 0.45 0.43 0.43 0.44 0.44 0.44 0.44 0.48 0.49 1.18 1.04 1.10 1.11 1.14

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q3 2023 Calculation
Debt to equity = Total debt ÷ Total Hubbell Incorporated shareholders’ equity
= 1,443,000 ÷ 2,739,100 = 0.53

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Debt to Capital

Hubbell Inc., debt to capital calculation (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Short-term debt and current portion of long-term debt 3,300 1,800 4,700 4,700 4,000 5,800 7,800 9,700 128,900 137,600 360,800 153,100 21,900 145,200 106,700 65,400 35,900 54,200 77,300 56,100 130,300 91,100 177,500
Long-term debt, excluding current portion 1,439,700 1,439,100 1,438,500 1,437,900 1,437,300 1,436,700 1,436,100 1,435,500 1,434,900 1,434,200 1,433,700 1,436,900 1,436,300 1,610,400 1,597,300 1,506,000 1,714,100 1,722,800 1,731,500 1,737,100 1,792,500 1,897,600 1,903,200
Total debt 1,443,000 1,440,900 1,443,200 1,442,600 1,441,300 1,442,500 1,443,900 1,445,200 1,563,800 1,571,800 1,794,500 1,590,000 1,458,200 1,755,600 1,704,000 1,571,400 1,750,000 1,777,000 1,808,800 1,793,200 1,922,800 1,988,700 2,080,700
Total Hubbell Incorporated shareholders’ equity 2,739,100 2,620,700 2,472,700 2,360,900 2,318,700 2,256,900 2,213,300 2,229,800 2,168,800 2,125,700 2,082,700 2,070,000 2,016,800 1,959,900 1,914,900 1,947,100 1,903,100 1,835,900 1,808,100 1,780,600 1,754,800 1,684,900 1,662,000
Total capital 4,182,100 4,061,600 3,915,900 3,803,500 3,760,000 3,699,400 3,657,200 3,675,000 3,732,600 3,697,500 3,877,200 3,660,000 3,475,000 3,715,500 3,618,900 3,518,500 3,653,100 3,612,900 3,616,900 3,573,800 3,677,600 3,673,600 3,742,700
Solvency Ratio
Debt to capital1 0.35 0.35 0.37 0.38 0.38 0.39 0.39 0.39 0.42 0.43 0.46 0.43 0.42 0.47 0.47 0.45 0.48 0.49 0.50 0.50 0.52 0.54 0.56
Benchmarks
Debt to Capital, Competitors2
Boeing Co. 1.47 1.42 1.39 1.39 1.45 1.35 1.36 1.35 1.30 1.36 1.40 1.40 1.24 1.23 1.33 1.46 1.20 1.38 0.99
Caterpillar Inc. 0.64 0.67 0.67 0.70 0.70 0.70 0.69 0.70 0.69 0.69 0.70 0.71 0.72 0.74 0.72 0.72 0.72 0.71 0.70
Eaton Corp. plc 0.33 0.34 0.34 0.34 0.36 0.37 0.37 0.34 0.36 0.44 0.40 0.35 0.36 0.37 0.37 0.34 0.34 0.33 0.32
GE Aerospace 0.42 0.41 0.41 0.47 0.49 0.48 0.46 0.47 0.63 0.65 0.68 0.68 0.70 0.71 0.71 0.76 0.77 0.75 0.75
Honeywell International Inc. 0.54 0.55 0.53 0.54 0.49 0.52 0.51 0.51 0.54 0.54 0.54 0.56 0.55 0.55 0.48 0.46 0.51 0.48 0.46
Lockheed Martin Corp. 0.65 0.66 0.62 0.63 0.49 0.50 0.54 0.52 0.55 0.65 0.66 0.67 0.72 0.77 0.79 0.80 0.78 0.83 0.85
RTX Corp. 0.34 0.33 0.32 0.31 0.32 0.31 0.30 0.30 0.30 0.31 0.31 0.31 0.32 0.33 0.54 0.51 0.52 0.53 0.53

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q3 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 1,443,000 ÷ 4,182,100 = 0.35

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Debt to Assets

Hubbell Inc., debt to assets calculation (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Short-term debt and current portion of long-term debt 3,300 1,800 4,700 4,700 4,000 5,800 7,800 9,700 128,900 137,600 360,800 153,100 21,900 145,200 106,700 65,400 35,900 54,200 77,300 56,100 130,300 91,100 177,500
Long-term debt, excluding current portion 1,439,700 1,439,100 1,438,500 1,437,900 1,437,300 1,436,700 1,436,100 1,435,500 1,434,900 1,434,200 1,433,700 1,436,900 1,436,300 1,610,400 1,597,300 1,506,000 1,714,100 1,722,800 1,731,500 1,737,100 1,792,500 1,897,600 1,903,200
Total debt 1,443,000 1,440,900 1,443,200 1,442,600 1,441,300 1,442,500 1,443,900 1,445,200 1,563,800 1,571,800 1,794,500 1,590,000 1,458,200 1,755,600 1,704,000 1,571,400 1,750,000 1,777,000 1,808,800 1,793,200 1,922,800 1,988,700 2,080,700
 
Total assets 5,768,300 5,640,900 5,480,800 5,402,600 5,338,400 5,238,200 5,169,700 5,281,500 5,241,700 5,172,800 5,292,900 5,085,100 4,877,100 5,058,700 4,959,100 4,903,000 5,074,300 5,036,000 4,976,100 4,872,100 4,997,500 4,971,100 4,975,400
Solvency Ratio
Debt to assets1 0.25 0.26 0.26 0.27 0.27 0.28 0.28 0.27 0.30 0.30 0.34 0.31 0.30 0.35 0.34 0.32 0.34 0.35 0.36 0.37 0.38 0.40 0.42
Benchmarks
Debt to Assets, Competitors2
Boeing Co. 0.39 0.39 0.41 0.42 0.42 0.42 0.43 0.42 0.43 0.43 0.42 0.42 0.38 0.38 0.27 0.20 0.19 0.15 0.12
Caterpillar Inc. 0.43 0.44 0.44 0.45 0.45 0.46 0.46 0.46 0.46 0.46 0.47 0.47 0.50 0.50 0.49 0.48 0.49 0.46 0.45
Eaton Corp. plc 0.25 0.25 0.25 0.25 0.26 0.28 0.27 0.25 0.27 0.33 0.30 0.25 0.26 0.27 0.27 0.25 0.25 0.25 0.24
GE Aerospace 0.13 0.13 0.14 0.17 0.17 0.18 0.18 0.18 0.27 0.27 0.29 0.30 0.31 0.32 0.32 0.34 0.35 0.34 0.34
Honeywell International Inc. 0.33 0.34 0.32 0.31 0.28 0.31 0.31 0.30 0.33 0.33 0.34 0.35 0.35 0.35 0.28 0.27 0.31 0.28 0.28
Lockheed Martin Corp. 0.31 0.31 0.29 0.29 0.22 0.22 0.23 0.23 0.23 0.23 0.24 0.24 0.25 0.26 0.26 0.27 0.28 0.28 0.29
RTX Corp. 0.22 0.22 0.21 0.20 0.21 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.33 0.31 0.32 0.33 0.33

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q3 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 1,443,000 ÷ 5,768,300 = 0.25

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Financial Leverage

Hubbell Inc., financial leverage calculation (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Total assets 5,768,300 5,640,900 5,480,800 5,402,600 5,338,400 5,238,200 5,169,700 5,281,500 5,241,700 5,172,800 5,292,900 5,085,100 4,877,100 5,058,700 4,959,100 4,903,000 5,074,300 5,036,000 4,976,100 4,872,100 4,997,500 4,971,100 4,975,400
Total Hubbell Incorporated shareholders’ equity 2,739,100 2,620,700 2,472,700 2,360,900 2,318,700 2,256,900 2,213,300 2,229,800 2,168,800 2,125,700 2,082,700 2,070,000 2,016,800 1,959,900 1,914,900 1,947,100 1,903,100 1,835,900 1,808,100 1,780,600 1,754,800 1,684,900 1,662,000
Solvency Ratio
Financial leverage1 2.11 2.15 2.22 2.29 2.30 2.32 2.34 2.37 2.42 2.43 2.54 2.46 2.42 2.58 2.59 2.52 2.67 2.74 2.75 2.74 2.85 2.95 2.99
Benchmarks
Financial Leverage, Competitors2
Boeing Co. 961.67
Caterpillar Inc. 4.24 4.68 4.61 5.16 5.19 5.16 4.82 5.02 4.85 4.85 4.87 5.11 5.13 5.57 5.35 5.38 5.22 5.34 5.10
Eaton Corp. plc 2.03 2.05 2.04 2.06 2.14 2.15 2.12 2.07 2.14 2.39 2.27 2.13 2.14 2.14 2.17 2.04 2.01 1.98 1.95
GE Aerospace 5.47 5.23 5.20 5.16 5.75 5.35 4.92 4.93 6.33 7.09 7.30 7.13 7.64 7.62 7.43 9.40 9.42 8.71 8.96
Honeywell International Inc. 3.56 3.60 3.54 3.73 3.40 3.55 3.45 3.47 3.60 3.56 3.53 3.68 3.51 3.50 3.25 3.17 3.32 3.23 3.12
Lockheed Martin Corp. 6.11 6.17 5.66 5.71 4.35 4.53 5.15 4.64 5.38 7.99 8.15 8.43 10.25 13.22 14.29 15.20 12.66 16.79 19.34
RTX Corp. 2.33 2.24 2.22 2.19 2.25 2.26 2.20 2.21 2.23 2.23 2.24 2.25 2.37 2.40 3.54 3.34 3.44 3.41 3.46

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q3 2023 Calculation
Financial leverage = Total assets ÷ Total Hubbell Incorporated shareholders’ equity
= 5,768,300 ÷ 2,739,100 = 2.11

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Interest Coverage

Hubbell Inc., interest coverage calculation (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Net income attributable to Hubbell Incorporated 200,100 206,800 181,900 104,600 139,100 122,000 180,200 117,600 108,400 95,800 77,700 80,900 107,100 88,200 75,000 101,900 130,700 96,000 72,300 88,000 113,600 100,300 58,300
Add: Net income attributable to noncontrolling interest 1,900 1,400 1,500 1,000 1,700 1,500 1,300 1,800 2,100 800 1,400 1,700 1,500 900 700 1,200 1,900 1,900 1,500 1,200 1,100 2,100 1,500
Less: Income (loss) from discontinued operations, net of tax (18,300) (11,200) (13,600) 77,700 18,100 5,000 7,000 4,400
Add: Income tax expense 63,000 65,600 51,600 32,900 38,800 38,900 29,600 22,600 27,500 16,900 21,200 19,000 30,400 23,900 24,200 27,800 35,400 25,700 24,200 25,500 27,800 31,600 16,000
Add: Interest expense, net 7,800 9,200 9,700 11,700 12,100 12,700 13,100 13,300 13,600 12,600 15,200 14,500 15,000 15,700 15,100 17,700 17,000 17,200 17,500 17,900 18,400 18,800 17,300
Earnings before interest and tax (EBIT) 272,800 283,000 244,700 168,500 202,900 188,700 146,500 137,200 146,600 119,100 111,100 116,100 154,000 128,700 115,000 148,600 185,000 140,800 115,500 132,600 160,900 152,800 93,100
Solvency Ratio
Interest coverage1 25.23 21.06 17.42 14.25 13.19 11.75 10.44 9.40 8.82 8.73 8.44 8.52 8.60 8.81 8.80 8.50 8.25 7.74 7.74 7.45
Benchmarks
Interest Coverage, Competitors2
Boeing Co. -0.06 -0.85 -0.53 -0.98 -2.54 -1.40 -1.31 -0.88 -2.29 -2.55 -4.26 -5.71 -3.83 -3.86 -6.13 -2.19
Caterpillar Inc. 24.81 23.80 21.33 20.80 22.05 20.08 19.10 17.88 14.11 11.79 9.28 8.80 9.94 13.07 17.44 19.62
Eaton Corp. plc 22.25 19.68 19.85 21.22 21.33 24.31 22.57 21.11 20.08 15.71 11.87 12.72 11.39 11.72 13.79 11.98
GE Aerospace 9.41 8.49 6.73 1.88 -1.66 -1.16 -1.49 -0.96 2.15 1.11 0.65 2.59 2.16 2.11 2.64 1.27
Honeywell International Inc. 10.68 12.45 14.34 16.41 20.95 20.60 21.35 22.09 20.98 18.89 16.79 17.75 18.10 20.68 23.18 22.17
Lockheed Martin Corp. 10.42 11.74 10.58 11.72 13.31 10.88 14.12 14.27 13.67 15.97 15.44 14.93 14.16 13.35 12.63 12.09

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q3 2023 Calculation
Interest coverage = (EBITQ3 2023 + EBITQ2 2023 + EBITQ1 2023 + EBITQ4 2022) ÷ (Interest expenseQ3 2023 + Interest expenseQ2 2023 + Interest expenseQ1 2023 + Interest expenseQ4 2022)
= (272,800 + 283,000 + 244,700 + 168,500) ÷ (7,800 + 9,200 + 9,700 + 11,700) = 25.23

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.