Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
Solvency ratio | Description | The company |
---|---|---|
Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Kellanova debt to equity ratio deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Kellanova debt to equity ratio (including operating lease liability) deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Kellanova debt to capital ratio deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Kellanova debt to capital ratio (including operating lease liability) deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Kellanova debt to assets ratio deteriorated from Q4 2023 to Q1 2024 but then slightly improved from Q1 2024 to Q2 2024. |
Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Kellanova debt to assets ratio (including operating lease liability) deteriorated from Q4 2023 to Q1 2024 but then slightly improved from Q1 2024 to Q2 2024. |
Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Kellanova financial leverage ratio decreased from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024. |
Solvency ratio | Description | The company |
---|---|---|
Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Kellanova interest coverage ratio improved from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024. |
Debt to Equity
Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
Current maturities of long-term debt | 650) | 1,303) | 663) | 1,193) | 1,199) | 567) | 780) | 816) | 854) | 891) | 712) | 16) | 17) | 605) | 627) | 1,417) | 1,396) | 626) | 620) | 6) | 508) | 509) | |||||||
Notes payable | 206) | 236) | 121) | 353) | 461) | 471) | 467) | 174) | 320) | 450) | 137) | 497) | 551) | 428) | 102) | 116) | 121) | 657) | 107) | 185) | 568) | 605) | |||||||
Long-term debt, excluding current maturities | 5,007) | 4,395) | 5,089) | 5,530) | 5,078) | 5,759) | 5,317) | 5,697) | 5,838) | 5,953) | 6,262) | 7,020) | 7,029) | 6,655) | 6,746) | 7,000) | 6,929) | 7,163) | 7,195) | 7,683) | 8,262) | 8,183) | |||||||
Total debt | 5,863) | 5,934) | 5,873) | 7,076) | 6,738) | 6,797) | 6,564) | 6,687) | 7,012) | 7,294) | 7,111) | 7,533) | 7,597) | 7,688) | 7,475) | 8,533) | 8,446) | 8,446) | 7,922) | 7,874) | 9,338) | 9,297) | |||||||
Total Kellanova equity | 3,307) | 3,152) | 3,175) | 4,038) | 3,965) | 4,052) | 3,941) | 4,283) | 4,082) | 3,795) | 3,720) | 3,484) | 3,362) | 3,138) | 3,112) | 3,044) | 2,870) | 2,674) | 2,747) | 2,727) | 2,650) | 2,533) | |||||||
Solvency Ratio | |||||||||||||||||||||||||||||
Debt to equity1 | 1.77 | 1.88 | 1.85 | 1.75 | 1.70 | 1.68 | 1.67 | 1.56 | 1.72 | 1.92 | 1.91 | 2.16 | 2.26 | 2.45 | 2.40 | 2.80 | 2.94 | 3.16 | 2.88 | 2.89 | 3.52 | 3.67 | |||||||
Benchmarks | |||||||||||||||||||||||||||||
Debt to Equity, Competitors2 | |||||||||||||||||||||||||||||
Altria Group Inc. | — | — | — | — | — | — | — | — | — | — | — | — | 8.67 | 10.19 | 10.38 | 9.32 | 5.11 | 4.58 | 4.51 | 2.65 | 2.02 | 2.07 | |||||||
Coca-Cola Co. | 1.69 | 1.61 | 1.62 | 1.53 | 1.60 | 1.68 | 1.62 | 1.74 | 1.82 | 1.68 | 1.86 | 1.88 | 1.89 | 2.21 | 2.22 | 2.84 | 2.99 | 2.78 | 2.25 | 2.27 | 2.48 | 2.50 | |||||||
PepsiCo Inc. | 2.31 | 2.41 | 2.38 | 2.38 | 2.47 | 2.45 | 2.28 | 2.07 | 2.12 | 2.20 | 2.51 | 2.60 | 2.76 | 3.13 | 3.28 | 3.31 | 3.60 | 3.06 | 2.17 | 2.30 | 2.24 | 2.24 | |||||||
Philip Morris International Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q2 2024 Calculation
Debt to equity = Total debt ÷ Total Kellanova equity
= 5,863 ÷ 3,307 = 1.77
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. | Kellanova debt to equity ratio deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
Debt to Equity (including Operating Lease Liability)
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q2 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Kellanova equity
= 6,501 ÷ 3,307 = 1.97
Solvency ratio | Description | The company |
---|---|---|
Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Kellanova debt to equity ratio (including operating lease liability) deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
Debt to Capital
Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
Current maturities of long-term debt | 650) | 1,303) | 663) | 1,193) | 1,199) | 567) | 780) | 816) | 854) | 891) | 712) | 16) | 17) | 605) | 627) | 1,417) | 1,396) | 626) | 620) | 6) | 508) | 509) | |||||||
Notes payable | 206) | 236) | 121) | 353) | 461) | 471) | 467) | 174) | 320) | 450) | 137) | 497) | 551) | 428) | 102) | 116) | 121) | 657) | 107) | 185) | 568) | 605) | |||||||
Long-term debt, excluding current maturities | 5,007) | 4,395) | 5,089) | 5,530) | 5,078) | 5,759) | 5,317) | 5,697) | 5,838) | 5,953) | 6,262) | 7,020) | 7,029) | 6,655) | 6,746) | 7,000) | 6,929) | 7,163) | 7,195) | 7,683) | 8,262) | 8,183) | |||||||
Total debt | 5,863) | 5,934) | 5,873) | 7,076) | 6,738) | 6,797) | 6,564) | 6,687) | 7,012) | 7,294) | 7,111) | 7,533) | 7,597) | 7,688) | 7,475) | 8,533) | 8,446) | 8,446) | 7,922) | 7,874) | 9,338) | 9,297) | |||||||
Total Kellanova equity | 3,307) | 3,152) | 3,175) | 4,038) | 3,965) | 4,052) | 3,941) | 4,283) | 4,082) | 3,795) | 3,720) | 3,484) | 3,362) | 3,138) | 3,112) | 3,044) | 2,870) | 2,674) | 2,747) | 2,727) | 2,650) | 2,533) | |||||||
Total capital | 9,170) | 9,086) | 9,048) | 11,114) | 10,703) | 10,849) | 10,505) | 10,970) | 11,094) | 11,089) | 10,831) | 11,017) | 10,959) | 10,826) | 10,587) | 11,577) | 11,316) | 11,120) | 10,669) | 10,601) | 11,988) | 11,830) | |||||||
Solvency Ratio | |||||||||||||||||||||||||||||
Debt to capital1 | 0.64 | 0.65 | 0.65 | 0.64 | 0.63 | 0.63 | 0.62 | 0.61 | 0.63 | 0.66 | 0.66 | 0.68 | 0.69 | 0.71 | 0.71 | 0.74 | 0.75 | 0.76 | 0.74 | 0.74 | 0.78 | 0.79 | |||||||
Benchmarks | |||||||||||||||||||||||||||||
Debt to Capital, Competitors2 | |||||||||||||||||||||||||||||
Altria Group Inc. | 1.14 | 1.26 | 1.16 | 1.16 | 1.16 | 1.18 | 1.17 | 1.19 | 1.10 | 1.07 | 1.06 | 1.05 | 0.90 | 0.91 | 0.91 | 0.90 | 0.84 | 0.82 | 0.82 | 0.73 | 0.67 | 0.67 | |||||||
Coca-Cola Co. | 0.63 | 0.62 | 0.62 | 0.60 | 0.62 | 0.63 | 0.62 | 0.63 | 0.65 | 0.63 | 0.65 | 0.65 | 0.65 | 0.69 | 0.69 | 0.74 | 0.75 | 0.74 | 0.69 | 0.69 | 0.71 | 0.71 | |||||||
PepsiCo Inc. | 0.70 | 0.71 | 0.70 | 0.70 | 0.71 | 0.71 | 0.69 | 0.67 | 0.68 | 0.69 | 0.72 | 0.72 | 0.73 | 0.76 | 0.77 | 0.77 | 0.78 | 0.75 | 0.68 | 0.70 | 0.69 | 0.69 | |||||||
Philip Morris International Inc. | 1.25 | 1.26 | 1.31 | 1.25 | 1.25 | 1.23 | 1.26 | 1.51 | 1.48 | 1.52 | 1.57 | 1.57 | 1.62 | 1.65 | 1.66 | 1.70 | 1.68 | 1.84 | 1.59 | 1.53 | 1.60 | 1.65 |
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q2 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 5,863 ÷ 9,170 = 0.64
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. | Kellanova debt to capital ratio deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
Debt to Capital (including Operating Lease Liability)
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q2 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 6,501 ÷ 9,808 = 0.66
Solvency ratio | Description | The company |
---|---|---|
Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Kellanova debt to capital ratio (including operating lease liability) deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
Debt to Assets
Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
Current maturities of long-term debt | 650) | 1,303) | 663) | 1,193) | 1,199) | 567) | 780) | 816) | 854) | 891) | 712) | 16) | 17) | 605) | 627) | 1,417) | 1,396) | 626) | 620) | 6) | 508) | 509) | |||||||
Notes payable | 206) | 236) | 121) | 353) | 461) | 471) | 467) | 174) | 320) | 450) | 137) | 497) | 551) | 428) | 102) | 116) | 121) | 657) | 107) | 185) | 568) | 605) | |||||||
Long-term debt, excluding current maturities | 5,007) | 4,395) | 5,089) | 5,530) | 5,078) | 5,759) | 5,317) | 5,697) | 5,838) | 5,953) | 6,262) | 7,020) | 7,029) | 6,655) | 6,746) | 7,000) | 6,929) | 7,163) | 7,195) | 7,683) | 8,262) | 8,183) | |||||||
Total debt | 5,863) | 5,934) | 5,873) | 7,076) | 6,738) | 6,797) | 6,564) | 6,687) | 7,012) | 7,294) | 7,111) | 7,533) | 7,597) | 7,688) | 7,475) | 8,533) | 8,446) | 8,446) | 7,922) | 7,874) | 9,338) | 9,297) | |||||||
Total assets | 15,299) | 15,315) | 15,621) | 18,695) | 18,101) | 18,630) | 18,496) | 19,016) | 18,937) | 18,612) | 18,178) | 18,407) | 18,213) | 18,064) | 17,996) | 18,922) | 18,551) | 18,240) | 17,564) | 17,499) | 18,669) | 18,465) | |||||||
Solvency Ratio | |||||||||||||||||||||||||||||
Debt to assets1 | 0.38 | 0.39 | 0.38 | 0.38 | 0.37 | 0.36 | 0.35 | 0.35 | 0.37 | 0.39 | 0.39 | 0.41 | 0.42 | 0.43 | 0.42 | 0.45 | 0.46 | 0.46 | 0.45 | 0.45 | 0.50 | 0.50 | |||||||
Benchmarks | |||||||||||||||||||||||||||||
Debt to Assets, Competitors2 | |||||||||||||||||||||||||||||
Altria Group Inc. | 0.73 | 0.69 | 0.68 | 0.69 | 0.73 | 0.69 | 0.72 | 0.77 | 0.75 | 0.69 | 0.71 | 0.71 | 0.64 | 0.61 | 0.62 | 0.63 | 0.58 | 0.57 | 0.57 | 0.53 | 0.51 | 0.49 | |||||||
Coca-Cola Co. | 0.43 | 0.43 | 0.43 | 0.41 | 0.42 | 0.44 | 0.42 | 0.43 | 0.45 | 0.44 | 0.45 | 0.46 | 0.47 | 0.50 | 0.49 | 0.54 | 0.55 | 0.54 | 0.50 | 0.49 | 0.50 | 0.50 | |||||||
PepsiCo Inc. | 0.45 | 0.46 | 0.44 | 0.45 | 0.45 | 0.45 | 0.42 | 0.42 | 0.42 | 0.43 | 0.44 | 0.44 | 0.46 | 0.48 | 0.48 | 0.48 | 0.50 | 0.48 | 0.41 | 0.42 | 0.42 | 0.42 | |||||||
Philip Morris International Inc. | 0.75 | 0.77 | 0.73 | 0.76 | 0.77 | 0.76 | 0.70 | 0.67 | 0.68 | 0.70 | 0.67 | 0.70 | 0.72 | 0.74 | 0.70 | 0.75 | 0.76 | 0.76 | 0.72 | 0.77 | 0.75 | 0.80 |
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q2 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 5,863 ÷ 15,299 = 0.38
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. | Kellanova debt to assets ratio deteriorated from Q4 2023 to Q1 2024 but then slightly improved from Q1 2024 to Q2 2024. |
Debt to Assets (including Operating Lease Liability)
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q2 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 6,501 ÷ 15,299 = 0.42
Solvency ratio | Description | The company |
---|---|---|
Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Kellanova debt to assets ratio (including operating lease liability) deteriorated from Q4 2023 to Q1 2024 but then slightly improved from Q1 2024 to Q2 2024. |
Financial Leverage
Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
Total assets | 15,299) | 15,315) | 15,621) | 18,695) | 18,101) | 18,630) | 18,496) | 19,016) | 18,937) | 18,612) | 18,178) | 18,407) | 18,213) | 18,064) | 17,996) | 18,922) | 18,551) | 18,240) | 17,564) | 17,499) | 18,669) | 18,465) | |||||||
Total Kellanova equity | 3,307) | 3,152) | 3,175) | 4,038) | 3,965) | 4,052) | 3,941) | 4,283) | 4,082) | 3,795) | 3,720) | 3,484) | 3,362) | 3,138) | 3,112) | 3,044) | 2,870) | 2,674) | 2,747) | 2,727) | 2,650) | 2,533) | |||||||
Solvency Ratio | |||||||||||||||||||||||||||||
Financial leverage1 | 4.63 | 4.86 | 4.92 | 4.63 | 4.57 | 4.60 | 4.69 | 4.44 | 4.64 | 4.90 | 4.89 | 5.28 | 5.42 | 5.76 | 5.78 | 6.22 | 6.46 | 6.82 | 6.39 | 6.42 | 7.04 | 7.29 | |||||||
Benchmarks | |||||||||||||||||||||||||||||
Financial Leverage, Competitors2 | |||||||||||||||||||||||||||||
Altria Group Inc. | — | — | — | — | — | — | — | — | — | — | — | — | 13.63 | 16.74 | 16.70 | 14.86 | 8.83 | 8.04 | 7.92 | 5.02 | 3.98 | 4.21 | |||||||
Coca-Cola Co. | 3.91 | 3.76 | 3.77 | 3.71 | 3.78 | 3.86 | 3.85 | 4.05 | 4.05 | 3.79 | 4.10 | 4.09 | 4.05 | 4.42 | 4.52 | 5.22 | 5.42 | 5.18 | 4.55 | 4.67 | 4.95 | 4.98 | |||||||
PepsiCo Inc. | 5.12 | 5.25 | 5.43 | 5.31 | 5.42 | 5.46 | 5.38 | 4.98 | 5.02 | 5.11 | 5.76 | 5.88 | 6.04 | 6.54 | 6.91 | 6.83 | 7.17 | 6.32 | 5.31 | 5.48 | 5.38 | 5.31 | |||||||
Philip Morris International Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q2 2024 Calculation
Financial leverage = Total assets ÷ Total Kellanova equity
= 15,299 ÷ 3,307 = 4.63
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. | Kellanova financial leverage ratio decreased from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024. |
Interest Coverage
Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
Net income attributable to Kellanova | 344) | 267) | 27) | 269) | 357) | 298) | (98) | 310) | 326) | 422) | 433) | 307) | 380) | 368) | 205) | 348) | 351) | 347) | 145) | 247) | 286) | 282) | |||||||
Add: Net income attributable to noncontrolling interest | 3) | 4) | 3) | 1) | 5) | 4) | (2) | 2) | —) | 2) | 1) | (2) | 5) | 3) | 3) | 4) | 3) | 3) | 7) | 1) | 6) | 3) | |||||||
Less: Income from discontinued operations, net of taxes | —) | —) | 44) | —) | 64) | 68) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | |||||||
Add: Income tax expense | 97) | 82) | 16) | 104) | 77) | 61) | (39) | 74) | 97) | 112) | 129) | 92) | 144) | 109) | 55) | 65) | 109) | 94) | 84) | 91) | 74) | 72) | |||||||
Add: Interest expense | 83) | 83) | 77) | 83) | 73) | 70) | 69) | 39) | 54) | 56) | 51) | 55) | 58) | 59) | 85) | 63) | 69) | 64) | 63) | 72) | 75) | 74) | |||||||
Earnings before interest and tax (EBIT) | 527) | 436) | 79) | 457) | 448) | 365) | (70) | 425) | 477) | 592) | 614) | 452) | 587) | 539) | 348) | 480) | 532) | 508) | 299) | 411) | 441) | 431) | |||||||
Solvency Ratio | |||||||||||||||||||||||||||||
Interest coverage1 | 4.60 | 4.49 | 4.45 | 4.07 | 4.65 | 5.16 | 6.53 | 10.54 | 9.88 | 10.20 | 9.83 | 7.49 | 7.37 | 6.88 | 6.65 | 7.02 | 6.53 | 6.05 | 5.57 | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||
Interest Coverage, Competitors2 | |||||||||||||||||||||||||||||
Coca-Cola Co. | 9.17 | 9.31 | 9.48 | 10.15 | 11.32 | 12.46 | 14.25 | 17.35 | 16.61 | 10.81 | 8.78 | 7.79 | 5.98 | 6.64 | 7.78 | 8.20 | 12.50 | 13.94 | 12.40 | — | — | — |
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q2 2024 Calculation
Interest coverage
= (EBITQ2 2024
+ EBITQ1 2024
+ EBITQ4 2023
+ EBITQ3 2023)
÷ (Interest expenseQ2 2024
+ Interest expenseQ1 2024
+ Interest expenseQ4 2023
+ Interest expenseQ3 2023)
= (527 + 436 + 79 + 457)
÷ (83 + 83 + 77 + 83)
= 4.60
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. | Kellanova interest coverage ratio improved from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024. |