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)
Norfolk Southern Corp., solvency ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Norfolk Southern Corp. debt to equity ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Norfolk Southern Corp. debt to capital ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Norfolk Southern Corp. debt to assets ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Norfolk Southern Corp. financial leverage ratio increased from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Norfolk Southern Corp. interest coverage ratio improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022. |
Debt to Equity
Norfolk Southern Corp., debt to equity calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Short-term debt | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | 350) | —) | 250) | —) | —) | —) | 50) | 100) | —) | —) | —) | |||||||
| Current maturities of long-term debt | 1,153) | 553) | 558) | 1,048) | 501) | 579) | 89) | 85) | 400) | 316) | 401) | 401) | 585) | 585) | 500) | 500) | 600) | 600) | 600) | 600) | 550) | |||||||
| Long-term debt, excluding current maturities | 13,691) | 13,287) | 13,274) | 12,669) | 12,116) | 12,102) | 12,634) | 12,612) | 11,807) | 11,880) | 11,085) | 11,076) | 10,569) | 10,560) | 10,635) | 9,146) | 9,637) | 9,136) | 9,280) | 9,273) | 9,569) | |||||||
| Total debt | 14,844) | 13,840) | 13,832) | 13,717) | 12,617) | 12,681) | 12,723) | 12,697) | 12,207) | 12,196) | 11,836) | 11,477) | 11,404) | 11,145) | 11,135) | 9,646) | 10,287) | 9,836) | 9,880) | 9,873) | 10,119) | |||||||
| Stockholders’ equity | 13,461) | 13,641) | 13,887) | 14,317) | 14,643) | 14,791) | 14,941) | 14,861) | 14,884) | 15,184) | 15,238) | 15,311) | 15,331) | 15,362) | 15,480) | 16,559) | 16,418) | 16,359) | 12,727) | 12,662) | 12,527) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to equity1 | 1.10 | 1.01 | 1.00 | 0.96 | 0.86 | 0.86 | 0.85 | 0.85 | 0.82 | 0.80 | 0.78 | 0.75 | 0.74 | 0.73 | 0.72 | 0.58 | 0.63 | 0.60 | 0.78 | 0.78 | 0.81 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 0.85 | 0.86 | 1.07 | 1.11 | 1.20 | 1.20 | 1.03 | 1.01 | 1.03 | 0.99 | 0.93 | 0.90 | 0.88 | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 1.04 | 0.64 | 0.67 | 0.55 | 0.57 | 0.62 | 0.75 | 0.70 | 0.50 | 0.40 | 0.38 | 0.28 | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 2.71 | 2.10 | 2.11 | 2.01 | 1.64 | 1.58 | 1.63 | 1.73 | 1.74 | 1.39 | 1.43 | 1.39 | 1.42 | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 1.42 | 1.54 | 1.84 | 2.09 | 3.32 | 37.53 | 4.60 | 6.18 | 8.67 | 7.73 | 4.30 | 5.31 | 6.68 | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 14,844 ÷ 13,461 = 1.10
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. | Norfolk Southern Corp. debt to equity ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022. |
Debt to Capital
Norfolk Southern Corp., debt to capital calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Short-term debt | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | 350) | —) | 250) | —) | —) | —) | 50) | 100) | —) | —) | —) | |||||||
| Current maturities of long-term debt | 1,153) | 553) | 558) | 1,048) | 501) | 579) | 89) | 85) | 400) | 316) | 401) | 401) | 585) | 585) | 500) | 500) | 600) | 600) | 600) | 600) | 550) | |||||||
| Long-term debt, excluding current maturities | 13,691) | 13,287) | 13,274) | 12,669) | 12,116) | 12,102) | 12,634) | 12,612) | 11,807) | 11,880) | 11,085) | 11,076) | 10,569) | 10,560) | 10,635) | 9,146) | 9,637) | 9,136) | 9,280) | 9,273) | 9,569) | |||||||
| Total debt | 14,844) | 13,840) | 13,832) | 13,717) | 12,617) | 12,681) | 12,723) | 12,697) | 12,207) | 12,196) | 11,836) | 11,477) | 11,404) | 11,145) | 11,135) | 9,646) | 10,287) | 9,836) | 9,880) | 9,873) | 10,119) | |||||||
| Stockholders’ equity | 13,461) | 13,641) | 13,887) | 14,317) | 14,643) | 14,791) | 14,941) | 14,861) | 14,884) | 15,184) | 15,238) | 15,311) | 15,331) | 15,362) | 15,480) | 16,559) | 16,418) | 16,359) | 12,727) | 12,662) | 12,527) | |||||||
| Total capital | 28,305) | 27,481) | 27,719) | 28,034) | 27,260) | 27,472) | 27,664) | 27,558) | 27,091) | 27,380) | 27,074) | 26,788) | 26,735) | 26,507) | 26,615) | 26,205) | 26,705) | 26,195) | 22,607) | 22,535) | 22,646) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to capital1 | 0.52 | 0.50 | 0.50 | 0.49 | 0.46 | 0.46 | 0.46 | 0.46 | 0.45 | 0.45 | 0.44 | 0.43 | 0.43 | 0.42 | 0.42 | 0.37 | 0.39 | 0.38 | 0.44 | 0.44 | 0.45 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 0.46 | 0.46 | 0.52 | 0.53 | 0.54 | 0.55 | 0.51 | 0.50 | 0.51 | 0.50 | 0.48 | 0.47 | 0.47 | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 0.51 | 0.39 | 0.40 | 0.35 | 0.36 | 0.38 | 0.43 | 0.41 | 0.33 | 0.29 | 0.27 | 0.22 | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 0.73 | 0.68 | 0.68 | 0.67 | 0.62 | 0.61 | 0.62 | 0.63 | 0.64 | 0.58 | 0.59 | 0.58 | 0.59 | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 0.59 | 0.61 | 0.65 | 0.68 | 0.77 | 0.97 | 0.82 | 0.86 | 0.90 | 0.89 | 0.81 | 0.84 | 0.87 | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 14,844 ÷ 28,305 = 0.52
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. | Norfolk Southern Corp. debt to capital ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022. |
Debt to Assets
Norfolk Southern Corp., debt to assets calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Short-term debt | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | 350) | —) | 250) | —) | —) | —) | 50) | 100) | —) | —) | —) | |||||||
| Current maturities of long-term debt | 1,153) | 553) | 558) | 1,048) | 501) | 579) | 89) | 85) | 400) | 316) | 401) | 401) | 585) | 585) | 500) | 500) | 600) | 600) | 600) | 600) | 550) | |||||||
| Long-term debt, excluding current maturities | 13,691) | 13,287) | 13,274) | 12,669) | 12,116) | 12,102) | 12,634) | 12,612) | 11,807) | 11,880) | 11,085) | 11,076) | 10,569) | 10,560) | 10,635) | 9,146) | 9,637) | 9,136) | 9,280) | 9,273) | 9,569) | |||||||
| Total debt | 14,844) | 13,840) | 13,832) | 13,717) | 12,617) | 12,681) | 12,723) | 12,697) | 12,207) | 12,196) | 11,836) | 11,477) | 11,404) | 11,145) | 11,135) | 9,646) | 10,287) | 9,836) | 9,880) | 9,873) | 10,119) | |||||||
| Total assets | 39,361) | 38,493) | 38,604) | 38,754) | 37,937) | 37,962) | 38,179) | 37,962) | 37,438) | 37,923) | 37,500) | 37,172) | 37,062) | 36,239) | 36,322) | 35,788) | 36,162) | 35,711) | 35,153) | 34,922) | 35,145) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to assets1 | 0.38 | 0.36 | 0.36 | 0.35 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.32 | 0.32 | 0.31 | 0.31 | 0.31 | 0.31 | 0.27 | 0.28 | 0.28 | 0.28 | 0.28 | 0.29 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 0.25 | 0.25 | 0.28 | 0.29 | 0.30 | 0.30 | 0.28 | 0.27 | 0.27 | 0.32 | 0.34 | 0.32 | 0.33 | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 0.28 | 0.24 | 0.25 | 0.22 | 0.23 | 0.23 | 0.23 | 0.24 | 0.19 | 0.18 | 0.18 | 0.15 | 0.28 | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 0.50 | 0.47 | 0.47 | 0.46 | 0.43 | 0.43 | 0.44 | 0.45 | 0.45 | 0.41 | 0.42 | 0.41 | 0.41 | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 0.31 | 0.32 | 0.34 | 0.35 | 0.37 | 0.40 | 0.41 | 0.43 | 0.47 | 0.44 | 0.45 | 0.44 | 0.44 | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Debt to assets = Total debt ÷ Total assets
= 14,844 ÷ 39,361 = 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. | Norfolk Southern Corp. debt to assets ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022. |
Financial Leverage
Norfolk Southern Corp., financial leverage calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Total assets | 39,361) | 38,493) | 38,604) | 38,754) | 37,937) | 37,962) | 38,179) | 37,962) | 37,438) | 37,923) | 37,500) | 37,172) | 37,062) | 36,239) | 36,322) | 35,788) | 36,162) | 35,711) | 35,153) | 34,922) | 35,145) | |||||||
| Stockholders’ equity | 13,461) | 13,641) | 13,887) | 14,317) | 14,643) | 14,791) | 14,941) | 14,861) | 14,884) | 15,184) | 15,238) | 15,311) | 15,331) | 15,362) | 15,480) | 16,559) | 16,418) | 16,359) | 12,727) | 12,662) | 12,527) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Financial leverage1 | 2.92 | 2.82 | 2.78 | 2.71 | 2.59 | 2.57 | 2.56 | 2.55 | 2.52 | 2.50 | 2.46 | 2.43 | 2.42 | 2.36 | 2.35 | 2.16 | 2.20 | 2.18 | 2.76 | 2.76 | 2.81 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 3.37 | 3.43 | 3.77 | 3.86 | 3.99 | 4.02 | 3.72 | 3.75 | 3.77 | 3.06 | 2.74 | 2.76 | 2.71 | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 3.68 | 2.68 | 2.65 | 2.56 | 2.55 | 2.71 | 3.23 | 2.96 | 2.65 | 2.24 | 2.14 | 1.95 | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 5.38 | 4.49 | 4.48 | 4.34 | 3.80 | 3.68 | 3.70 | 3.86 | 3.89 | 3.40 | 3.44 | 3.40 | 3.46 | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 4.55 | 4.87 | 5.46 | 6.00 | 8.86 | 94.99 | 11.16 | 14.22 | 18.46 | 17.71 | 9.59 | 11.98 | 15.02 | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 39,361 ÷ 13,461 = 2.92
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. | Norfolk Southern Corp. financial leverage ratio increased from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022. |
Interest Coverage
Norfolk Southern Corp., interest coverage calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income | 703) | 760) | 753) | 819) | 673) | 671) | 569) | 392) | 381) | 666) | 657) | 722) | 677) | 702) | 702) | 710) | 552) | 3,968) | 506) | 497) | 433) | |||||||
| Add: Income tax expense | 209) | 225) | 233) | 222) | 193) | 196) | 155) | 111) | 55) | 162) | 211) | 212) | 184) | 228) | 206) | 214) | 155) | (3,075) | 294) | 283) | 222) | |||||||
| Add: Interest expense on debt | 168) | 165) | 164) | 161) | 156) | 160) | 155) | 156) | 154) | 152) | 150) | 153) | 149) | 148) | 142) | 131) | 136) | 134) | 134) | 140) | 142) | |||||||
| Earnings before interest and tax (EBIT) | 1,080) | 1,150) | 1,150) | 1,202) | 1,022) | 1,027) | 879) | 659) | 590) | 980) | 1,018) | 1,087) | 1,010) | 1,078) | 1,050) | 1,055) | 843) | 1,027) | 934) | 920) | 797) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Interest coverage1 | 6.96 | 7.00 | 6.87 | 6.53 | 5.72 | 5.05 | 5.04 | 5.31 | 6.03 | 6.78 | 6.99 | 7.14 | 7.36 | 7.23 | 7.32 | 7.21 | 6.85 | 6.69 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||||
| Uber Technologies Inc. | -13.64 | -1.20 | -4.91 | -1.89 | -7.20 | -14.24 | -15.12 | -16.13 | -22.17 | -14.15 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 8.53 | 8.33 | 8.05 | 7.66 | 6.91 | 7.12 | 7.20 | 7.58 | 8.28 | 8.38 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 20.95 | 24.91 | 12.99 | 12.33 | 10.56 | 3.63 | 9.58 | 9.32 | 9.39 | 9.66 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Interest coverage
= (EBITQ1 2022
+ EBITQ4 2021
+ EBITQ3 2021
+ EBITQ2 2021)
÷ (Interest expenseQ1 2022
+ Interest expenseQ4 2021
+ Interest expenseQ3 2021
+ Interest expenseQ2 2021)
= (1,080 + 1,150 + 1,150 + 1,202)
÷ (168 + 165 + 164 + 161)
= 6.96
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. | Norfolk Southern Corp. interest coverage ratio improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022. |