AssetMark Financial Holdings (AssetMark Financial Holdings) Interest Coverage : 22.53 (As of Mar. 2024)

View and export this data going back to 2019. Start your Free Trial

What is AssetMark Financial Holdings Interest Coverage?

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. AssetMark Financial Holdings's Operating Income for the three months ended in Mar. 2024 was $51.7 Mil. AssetMark Financial Holdings's Interest Expense for the three months ended in Mar. 2024 was $-2.3 Mil. AssetMark Financial Holdings's interest coverage for the quarter that ended in Mar. 2024 was 22.53. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for AssetMark Financial Holdings's Interest Coverage or its related term are showing as below:

AMK' s Interest Coverage Range Over the Past 10 Years
Min: 1.34 Med: 21.25 Max: No Debt
Current: 21.98

AMK's Interest Coverage is ranked worse than
56.83% of 454 companies
in the Asset Management industry
Industry Median: 41.32 vs AMK: 21.98

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

AssetMark Financial Holdings Interest Coverage Historical Data

The historical data trend for AssetMark Financial Holdings's Interest Coverage 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.

Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

* Premium members only.

AssetMark Financial Holdings Interest Coverage Chart

AssetMark Financial Holdings Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

Get a 7-Day Free Trial

2.40

1.34

13.67

21.97

21.25

AssetMark Financial Holdings Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Coverage	Get a 7-Day Free Trial															19.66	21.70	23.11	20.58	22.53

Competitive Comparison of AssetMark Financial Holdings's Interest Coverage

For the Asset Management subindustry, AssetMark Financial Holdings's Interest Coverage, along with its competitors' market caps and Interest Coverage data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

AssetMark Financial Holdings's Interest Coverage Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, AssetMark Financial Holdings's Interest Coverage distribution charts can be found below:

* The bar in red indicates where AssetMark Financial Holdings's Interest Coverage falls into.

AssetMark Financial Holdings Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage

-1

Operating Income

Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt ⁽¹⁾.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

AssetMark Financial Holdings's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as

Here, for the fiscal year that ended in Dec. 2023, AssetMark Financial Holdings's Interest Expense was $-9.1 Mil. Its Operating Income was $193.5 Mil. And its Long-Term Debt & Capital Lease Obligation was $119.8 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	193.521	/	-9.108
	=	21.25

AssetMark Financial Holdings's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Here, for the three months ended in Mar. 2024, AssetMark Financial Holdings's Interest Expense was $-2.3 Mil. Its Operating Income was $51.7 Mil. And its Long-Term Debt & Capital Lease Obligation was $118.5 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2024 )	/	Interest Expense (Q: Mar. 2024 )
	=	-1	*	51.69	/	-2.294
	=	22.53

The higher the ratio, the stronger the company's Financial Strength is.

AssetMark Financial Holdings (NYSE:AMK) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .

AssetMark Financial Holdings Interest Coverage Related Terms

Thank you for viewing the detailed overview of AssetMark Financial Holdings's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

AssetMark Financial Holdings (AssetMark Financial Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » AssetMark Financial Holdings Inc (NYSE:AMK) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

0LA:Germany

Address

1655 Grant Street, 10th Floor, Concord, CA, USA, 94520

Website

https://www.assetmark.com

AssetMark Financial Holdings Inc is a provider of extensive wealth management and technology solutions that power independent financial advisers and their clients. It provides an end-to-end experience, spanning nearly all elements of an adviser's engagement with the client, from initial conversations to ongoing financial planning discussions, including performance reporting and billing. In addition, the company's platform provides tools and capabilities for advisers to better manage their day-to-day business activities, giving them more time for meaningful conversations with investors.

Executives

Carrie E. Hansen	officer: EVP, Chief Operating Officer	C/O ASSETMARK FINANCIAL HOLDINGS, INC., 1655 GRANT STREET, 10TH FLOOR, CONCORD CA 94520
Ted F. Angus	officer: EVP, General Counsel	C/O ASSETMARK FINANCIAL HOLDINGS, INC., 1655 GRANT STREET, 10TH FLOOR, CONCORD CA 94520
Mcnatt Joel David Jr	officer: EVP, Investment Solutions	C/O ASSETMARK FINANCIAL HOLDINGS INC., 1655 GRANT ST 10TH FLOOR, CONCORD CA 94520
Mukesh Mehta	officer: EVP, Chief Information Officer	C/O ASSETMARK FINANCIAL HOLDINGS, INC., 1655 GRANT STREET, 10TH FLOOR, CONCORD CA 94520
Michael Kim	officer: EVP, Chief Client Officer	C/O ASSETMARK FINANCIAL HOLDINGS, INC., 1655 GRANT STREET, 10TH FLOOR, CONCORD CA 94520
Natalie Grace Wolfsen	officer: EVP, Chief Solutions Officer	C/O ASSETMARK FINANCIAL HOLDINGS, INC., 1655 GRANT STREET, 10TH FLOOR, CONCORD CA 94520
Gary G. Zyla	officer: EVP, Chief Financial Officer	C/O ASSETMARK FINANCIAL HOLDINGS, INC., 1655 GRANT STREET, 10TH FLOOR, CONCORD CA 94520
Esi Minta-jacobs	officer: EVP, Prgm Mgmt & HR	C/O ASSETMARK FINANCIAL HOLDINGS, INC., 1655 GRANT STREET, 10TH FLOOR, CONCORD CA 94520
Jeremiah H Chafkin	officer: EVP, Chief Investment Officer	C/O THE CHARLES SCHWAB CORPORATION, 120 KEARNY STREET, SAN FRANCISCO CA 94108
John Hahn	officer: SVP, Finance & Reporting (PAO)	C/O ASSETMARK FINANCIAL HOLDINGS, INC., 1655 GRANT STREET 10TH FLOOR, CONCORD CA 94520
Joseph M Velli	director
Charles G Goldman	director, officer: President and CEO	C/O THE CHARLES SCHWAB CORPORATION, 120 KEARNY STREET, SAN FRANCISCO CA 94108
Lei Wang	director	1655 GRANT STREET, 10TH FLOOR, CONCORD CA 94520
Xiaoning Jiao	director	1655 GRANT STREET, 10TH FLOOR, CONCORD CA 94520
Huatai Securities Co., Ltd.	10 percent owner	NO.228 MIDDLE JIANGDONG ROAD, NANJING, JIANGSU PROVINCE F4 210019