Legg Mason (Legg Mason) Cost of Goods Sold : $1,811 Mil (TTM As of Jun. 2020)

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What is Legg Mason Cost of Goods Sold?

Legg Mason's cost of goods sold for the three months ended in Jun. 2020 was $445 Mil. Its cost of goods sold for the trailing twelve months (TTM) ended in Jun. 2020 was $1,811 Mil.

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin. Legg Mason's Gross Margin % for the three months ended in Jun. 2020 was 33.27%.

Cost of Goods Sold is also directly linked to Inventory Turnover.

Legg Mason Cost of Goods Sold Historical Data

The historical data trend for Legg Mason's Cost of Goods Sold can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Legg Mason Cost of Goods Sold Chart

Legg Mason Annual Data

Trend

Mar11

Mar12

Mar13

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Cost of Goods Sold

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1,750.53

1,900.77

1,998.13

1,838.25

1,850.12

Legg Mason Quarterly Data
	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20
Cost of Goods Sold	Get a 7-Day Free Trial															483.73	482.83	479.40	404.16	444.56

Legg Mason Cost of Goods Sold Calculation

Cost of Goods Sold is the aggregate cost of goods produced and sold, and services rendered during the reporting period. It excludes Total Operating Expense, such as Depreciation, Depletion and Amortization and Selling, General, & Admin. Expense.

Cost of Goods Sold for the trailing twelve months (TTM) ended in Jun. 2020 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,811 Mil.

Legg Mason (NYSE:LM) Cost of Goods Sold Explanation

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin.

Legg Mason's Gross Margin % for the three months ended in Jun. 2020 is calculated as:

Gross Margin %	=	(Revenue	-	Cost of Goods Sold)	/	Revenue
	=	(666.186	-	444.557)	/	666.186
	=	33.27 %

A company that has a moat can usually maintain or even expand their Gross Margin. A company can increase its Gross Margin in two ways. It can increase the prices of the goods it sells and keeps its Cost of Goods Sold unchanged. Or it can keep the sales price unchanged and squeeze its suppliers to reduce the Cost of Goods Sold. Warren Buffett believes businesses with the power to raise prices have moats.

Cost of Goods Sold is also directly linked to another concept called Inventory Turnover:

Legg Mason's Inventory Turnover for the three months ended in Jun. 2020 is calculated as:

Inventory Turnover	=	Cost of Goods Sold	/	Average Total Inventories
	=	444.557	/	0
	=	N/A

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher inventory turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate inventory turnover. An average inventory is a better indication.

Legg Mason Cost of Goods Sold Related Terms

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Legg Mason (Legg Mason) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Legg Mason Inc (NYSE:LM) » Definitions » Cost of Goods Sold

Comparable Companies

Traded in Other Exchanges

N/A

Address

100 International Drive, Baltimore, MD, USA, 21202-1099

Website

https://www.leggmason.com

Legg Mason provides investment management services for institutional and individual investors. The firm had $783.4 billion in managed assets at the end of June, spread among its equity (25% of total AUM), fixed-income (57%), alternatives (9%), and money market (9%) investment platforms. Legg Mason uses a multiaffiliate business model, with its single- largest affiliate, Western Asset Management, accounting for more than 60% of managed assets. Other major affiliates include ClearBridge Investments (more than 15% of AUM), Brandywine (less than 10%), and Clarion Partners (less than 10%). The remaining affiliates--Martin Currie, Royce & Associates, EnTrustPermal, QS Investors, and RARE Infrastructure--each account for 2% or less of Legg Mason's managed assets.