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)
Parker-Hannifin Corp., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Parker-Hannifin Corp. debt to equity ratio deteriorated from Q4 2022 to Q1 2023 but then slightly improved from Q1 2023 to Q2 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Parker-Hannifin Corp. debt to capital ratio deteriorated from Q4 2022 to Q1 2023 but then slightly improved from Q1 2023 to Q2 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Parker-Hannifin Corp. debt to assets ratio deteriorated from Q4 2022 to Q1 2023 but then slightly improved from Q1 2023 to Q2 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Parker-Hannifin Corp. financial leverage ratio increased from Q4 2022 to Q1 2023 but then slightly decreased from Q1 2023 to Q2 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Parker-Hannifin Corp. interest coverage ratio deteriorated from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023. |
Debt to Equity
Parker-Hannifin Corp., debt to equity calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||||||
| Notes payable and long-term debt payable within one year | 1,994,333) | 1,725,077) | 1,724,310) | 1,923,860) | 2,201,653) | 302,309) | 2,824) | 186,388) | 610,909) | 884,450) | 809,529) | 1,035,191) | 1,604,318) | 1,736,779) | 587,014) | 1,017,278) | 1,144,347) | 796,861) | 638,466) | 1,055,527) | 1,248,212) | 1,144,054) | 1,008,465) | 776,159) | 581,487) | 595,956) | ||||||||
| Long-term debt, excluding payable within one year | 12,025,860) | 12,238,900) | 9,755,825) | 6,229,654) | 6,250,525) | 6,263,941) | 6,582,053) | 6,571,908) | 6,602,309) | 7,057,723) | 7,652,256) | 8,097,922) | 8,141,220) | 7,366,912) | 6,520,831) | 4,284,235) | 4,303,331) | 4,313,221) | 4,318,559) | 4,818,570) | 4,798,371) | 4,788,147) | 4,861,895) | 5,255,156) | 2,653,560) | 2,653,008) | ||||||||
| Total debt | 14,020,193) | 13,963,977) | 11,480,135) | 8,153,514) | 8,452,178) | 6,566,250) | 6,584,877) | 6,758,296) | 7,213,218) | 7,942,173) | 8,461,785) | 9,133,113) | 9,745,538) | 9,103,691) | 7,107,845) | 5,301,513) | 5,447,678) | 5,110,082) | 4,957,025) | 5,874,097) | 6,046,583) | 5,932,201) | 5,870,360) | 6,031,315) | 3,235,047) | 3,248,964) | ||||||||
| Shareholders’ equity | 9,322,380) | 8,762,521) | 8,848,011) | 8,959,866) | 8,755,082) | 8,490,781) | 8,398,307) | 7,392,202) | 7,105,982) | 6,528,964) | 6,113,983) | 6,295,990) | 6,330,175) | 6,096,616) | 5,961,969) | 6,009,978) | 5,815,209) | 6,101,380) | 5,859,866) | 5,870,353) | 5,513,401) | 5,524,940) | 5,261,649) | 4,742,139) | 4,527,709) | 4,647,281) | ||||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||||||
| Debt to equity1 | 1.50 | 1.59 | 1.30 | 0.91 | 0.97 | 0.77 | 0.78 | 0.91 | 1.02 | 1.22 | 1.38 | 1.45 | 1.54 | 1.49 | 1.19 | 0.88 | 0.94 | 0.84 | 0.85 | 1.00 | 1.10 | 1.07 | 1.12 | 1.27 | 0.71 | 0.70 | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 117.95 | — | — | — | — | — | — | — | — | ||||||||
| Caterpillar Inc. | 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 | 0.52 | 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 | 0.70 | 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. | 1.24 | 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. | 1.90 | 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. | 0.49 | 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: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
1 Q2 2023 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 14,020,193 ÷ 9,322,380 = 1.50
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. | Parker-Hannifin Corp. debt to equity ratio deteriorated from Q4 2022 to Q1 2023 but then slightly improved from Q1 2023 to Q2 2023. |
Debt to Capital
Parker-Hannifin Corp., debt to capital calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||||||
| Notes payable and long-term debt payable within one year | 1,994,333) | 1,725,077) | 1,724,310) | 1,923,860) | 2,201,653) | 302,309) | 2,824) | 186,388) | 610,909) | 884,450) | 809,529) | 1,035,191) | 1,604,318) | 1,736,779) | 587,014) | 1,017,278) | 1,144,347) | 796,861) | 638,466) | 1,055,527) | 1,248,212) | 1,144,054) | 1,008,465) | 776,159) | 581,487) | 595,956) | ||||||||
| Long-term debt, excluding payable within one year | 12,025,860) | 12,238,900) | 9,755,825) | 6,229,654) | 6,250,525) | 6,263,941) | 6,582,053) | 6,571,908) | 6,602,309) | 7,057,723) | 7,652,256) | 8,097,922) | 8,141,220) | 7,366,912) | 6,520,831) | 4,284,235) | 4,303,331) | 4,313,221) | 4,318,559) | 4,818,570) | 4,798,371) | 4,788,147) | 4,861,895) | 5,255,156) | 2,653,560) | 2,653,008) | ||||||||
| Total debt | 14,020,193) | 13,963,977) | 11,480,135) | 8,153,514) | 8,452,178) | 6,566,250) | 6,584,877) | 6,758,296) | 7,213,218) | 7,942,173) | 8,461,785) | 9,133,113) | 9,745,538) | 9,103,691) | 7,107,845) | 5,301,513) | 5,447,678) | 5,110,082) | 4,957,025) | 5,874,097) | 6,046,583) | 5,932,201) | 5,870,360) | 6,031,315) | 3,235,047) | 3,248,964) | ||||||||
| Shareholders’ equity | 9,322,380) | 8,762,521) | 8,848,011) | 8,959,866) | 8,755,082) | 8,490,781) | 8,398,307) | 7,392,202) | 7,105,982) | 6,528,964) | 6,113,983) | 6,295,990) | 6,330,175) | 6,096,616) | 5,961,969) | 6,009,978) | 5,815,209) | 6,101,380) | 5,859,866) | 5,870,353) | 5,513,401) | 5,524,940) | 5,261,649) | 4,742,139) | 4,527,709) | 4,647,281) | ||||||||
| Total capital | 23,342,573) | 22,726,498) | 20,328,146) | 17,113,380) | 17,207,260) | 15,057,031) | 14,983,184) | 14,150,498) | 14,319,200) | 14,471,137) | 14,575,768) | 15,429,103) | 16,075,713) | 15,200,307) | 13,069,814) | 11,311,491) | 11,262,887) | 11,211,462) | 10,816,891) | 11,744,450) | 11,559,984) | 11,457,141) | 11,132,009) | 10,773,454) | 7,762,756) | 7,896,245) | ||||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||||||
| Debt to capital1 | 0.60 | 0.61 | 0.56 | 0.48 | 0.49 | 0.44 | 0.44 | 0.48 | 0.50 | 0.55 | 0.58 | 0.59 | 0.61 | 0.60 | 0.54 | 0.47 | 0.48 | 0.46 | 0.46 | 0.50 | 0.52 | 0.52 | 0.53 | 0.56 | 0.42 | 0.41 | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||||||||
| Boeing Co. | 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. | 0.67 | 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 | 0.34 | 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 | 0.41 | 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. | 0.55 | 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. | 0.66 | 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. | 0.33 | 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: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
1 Q2 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 14,020,193 ÷ 23,342,573 = 0.60
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. | Parker-Hannifin Corp. debt to capital ratio deteriorated from Q4 2022 to Q1 2023 but then slightly improved from Q1 2023 to Q2 2023. |
Debt to Assets
Parker-Hannifin Corp., debt to assets calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||||||
| Notes payable and long-term debt payable within one year | 1,994,333) | 1,725,077) | 1,724,310) | 1,923,860) | 2,201,653) | 302,309) | 2,824) | 186,388) | 610,909) | 884,450) | 809,529) | 1,035,191) | 1,604,318) | 1,736,779) | 587,014) | 1,017,278) | 1,144,347) | 796,861) | 638,466) | 1,055,527) | 1,248,212) | 1,144,054) | 1,008,465) | 776,159) | 581,487) | 595,956) | ||||||||
| Long-term debt, excluding payable within one year | 12,025,860) | 12,238,900) | 9,755,825) | 6,229,654) | 6,250,525) | 6,263,941) | 6,582,053) | 6,571,908) | 6,602,309) | 7,057,723) | 7,652,256) | 8,097,922) | 8,141,220) | 7,366,912) | 6,520,831) | 4,284,235) | 4,303,331) | 4,313,221) | 4,318,559) | 4,818,570) | 4,798,371) | 4,788,147) | 4,861,895) | 5,255,156) | 2,653,560) | 2,653,008) | ||||||||
| Total debt | 14,020,193) | 13,963,977) | 11,480,135) | 8,153,514) | 8,452,178) | 6,566,250) | 6,584,877) | 6,758,296) | 7,213,218) | 7,942,173) | 8,461,785) | 9,133,113) | 9,745,538) | 9,103,691) | 7,107,845) | 5,301,513) | 5,447,678) | 5,110,082) | 4,957,025) | 5,874,097) | 6,046,583) | 5,932,201) | 5,870,360) | 6,031,315) | 3,235,047) | 3,248,964) | ||||||||
| Total assets | 30,520,887) | 29,954,907) | 25,943,943) | 22,545,320) | 22,395,475) | 20,236,871) | 20,341,200) | 19,841,546) | 19,827,429) | 19,785,917) | 19,738,189) | 20,365,280) | 21,043,989) | 19,568,589) | 17,576,690) | 15,477,935) | 15,307,687) | 15,425,042) | 15,320,087) | 16,237,484) | 15,965,181) | 15,731,279) | 15,489,904) | 15,325,333) | 11,731,613) | 11,970,914) | ||||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||||||
| Debt to assets1 | 0.46 | 0.47 | 0.44 | 0.36 | 0.38 | 0.32 | 0.32 | 0.34 | 0.36 | 0.40 | 0.43 | 0.45 | 0.46 | 0.47 | 0.40 | 0.34 | 0.36 | 0.33 | 0.32 | 0.36 | 0.38 | 0.38 | 0.38 | 0.39 | 0.28 | 0.27 | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||||||||
| Boeing Co. | 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. | 0.44 | 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 | 0.26 | 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 | 0.14 | 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. | 0.34 | 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 | 0.29 | 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 | 0.21 | 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: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
1 Q2 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 14,020,193 ÷ 30,520,887 = 0.46
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. | Parker-Hannifin Corp. debt to assets ratio deteriorated from Q4 2022 to Q1 2023 but then slightly improved from Q1 2023 to Q2 2023. |
Financial Leverage
Parker-Hannifin Corp., financial leverage calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | |||||||||
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| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||||||
| Total assets | 30,520,887) | 29,954,907) | 25,943,943) | 22,545,320) | 22,395,475) | 20,236,871) | 20,341,200) | 19,841,546) | 19,827,429) | 19,785,917) | 19,738,189) | 20,365,280) | 21,043,989) | 19,568,589) | 17,576,690) | 15,477,935) | 15,307,687) | 15,425,042) | 15,320,087) | 16,237,484) | 15,965,181) | 15,731,279) | 15,489,904) | 15,325,333) | 11,731,613) | 11,970,914) | ||||||||
| Shareholders’ equity | 9,322,380) | 8,762,521) | 8,848,011) | 8,959,866) | 8,755,082) | 8,490,781) | 8,398,307) | 7,392,202) | 7,105,982) | 6,528,964) | 6,113,983) | 6,295,990) | 6,330,175) | 6,096,616) | 5,961,969) | 6,009,978) | 5,815,209) | 6,101,380) | 5,859,866) | 5,870,353) | 5,513,401) | 5,524,940) | 5,261,649) | 4,742,139) | 4,527,709) | 4,647,281) | ||||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||||||
| Financial leverage1 | 3.27 | 3.42 | 2.93 | 2.52 | 2.56 | 2.38 | 2.42 | 2.68 | 2.79 | 3.03 | 3.23 | 3.23 | 3.32 | 3.21 | 2.95 | 2.58 | 2.63 | 2.53 | 2.61 | 2.77 | 2.90 | 2.85 | 2.94 | 3.23 | 2.59 | 2.58 | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 961.67 | — | — | — | — | — | — | — | — | ||||||||
| Caterpillar Inc. | 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 | 2.05 | 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 | 5.23 | 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. | 3.60 | 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. | 6.17 | 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. | 2.24 | 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: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
1 Q2 2023 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 30,520,887 ÷ 9,322,380 = 3.27
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. | Parker-Hannifin Corp. financial leverage ratio increased from Q4 2022 to Q1 2023 but then slightly decreased from Q1 2023 to Q2 2023. |
Interest Coverage
Parker-Hannifin Corp., interest coverage calculation (quarterly data)
| 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||||||
| Net income attributable to common shareholders | 395,237) | 387,854) | 128,831) | 348,017) | 387,600) | 451,157) | 505,738) | 471,647) | 447,306) | 321,409) | 295,716) | 367,253) | 204,474) | 338,898) | 413,668) | 411,248) | 311,737) | 375,711) | 353,256) | 365,989) | 56,159) | 285,397) | 293,305) | 238,673) | 241,305) | 210,129) | ||||||||
| Add: Net income attributable to noncontrolling interest | 224) | 183) | 75) | 71) | 129) | 306) | 176) | 86) | 191) | 308) | (21) | 116) | 124) | 143) | 70) | 133) | 176) | 188) | 72) | 141) | 163) | 138) | 54) | 174) | 95) | 109) | ||||||||
| Add: Income tax expense | 121,282) | 115,308) | (10,738) | 85,901) | 102,595) | 120,282) | 151,884) | 125,619) | 129,015) | 93,578) | 74,873) | 86,788) | 50,148) | 94,115) | 99,610) | 117,819) | 119,241) | 83,824) | 144,599) | 103,697) | 303,899) | 88,767) | 107,252) | 76,216) | 79,322) | 82,007) | ||||||||
| Add: Interest expense | 146,931) | 117,794) | 71,270) | 63,272) | 61,360) | 59,350) | 60,258) | 60,830) | 62,990) | 65,958) | 74,549) | 80,765) | 82,891) | 69,956) | 50,072) | 48,209) | 47,518) | 44,339) | 53,040) | 54,145) | 53,133) | 53,555) | 52,787) | 42,057) | 33,444) | 34,148) | ||||||||
| Earnings before interest and tax (EBIT) | 663,674) | 621,139) | 189,438) | 497,261) | 551,684) | 631,095) | 718,056) | 658,182) | 639,502) | 481,253) | 445,117) | 534,922) | 337,637) | 503,112) | 563,420) | 577,409) | 478,672) | 504,062) | 550,967) | 523,972) | 413,354) | 427,857) | 453,398) | 357,120) | 354,166) | 326,393) | ||||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||||||
| Interest coverage1 | 4.94 | 5.93 | 7.32 | 9.82 | 10.58 | 10.87 | 9.99 | 8.41 | 7.39 | 5.91 | 5.91 | 6.84 | 7.89 | 9.84 | 11.17 | 10.93 | 10.34 | 9.74 | 8.96 | 8.51 | 8.20 | 8.76 | 9.18 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||||||||||
| Boeing Co. | -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. | 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 | 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 | 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. | 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. | 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: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
1 Q2 2023 Calculation
Interest coverage
= (EBITQ2 2023
+ EBITQ1 2023
+ EBITQ4 2022
+ EBITQ3 2022)
÷ (Interest expenseQ2 2023
+ Interest expenseQ1 2023
+ Interest expenseQ4 2022
+ Interest expenseQ3 2022)
= (663,674 + 621,139 + 189,438 + 497,261)
÷ (146,931 + 117,794 + 71,270 + 63,272)
= 4.94
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. | Parker-Hannifin Corp. interest coverage ratio deteriorated from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023. |