BlackRock (BlackRock) Interest Coverage : 20.05 (As of Dec. 2023)

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What is BlackRock 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. BlackRock's Operating Income for the three months ended in Dec. 2023 was $1,644 Mil. BlackRock's Interest Expense for the three months ended in Dec. 2023 was $-82 Mil. BlackRock's interest coverage for the quarter that ended in Dec. 2023 was 20.05. The higher the ratio, the stronger the company's financial strength is.

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

BLK' s Interest Coverage Range Over the Past 10 Years
Min: 19.5 Med: 26.52 Max: 36.34
Current: 20.26

BLK's Interest Coverage is ranked worse than
55.68% of 449 companies
in the Asset Management industry
Industry Median: 38.64 vs BLK: 20.26

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

BlackRock Interest Coverage Historical Data

The historical data trend for BlackRock'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.

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BlackRock Interest Coverage Chart

BlackRock Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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27.34

27.78

36.34

30.61

21.69

BlackRock 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															24.36	23.45	19.93	20.05	18.35

Competitive Comparison of BlackRock's Interest Coverage

For the Asset Management subindustry, BlackRock'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.

BlackRock's Interest Coverage Distribution in the Asset Management Industry

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

* The bar in red indicates where BlackRock's Interest Coverage falls into.

BlackRock 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.

BlackRock'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, BlackRock's Interest Expense was $-292 Mil. Its Operating Income was $6,333 Mil. And its Long-Term Debt & Capital Lease Obligation was $9,702 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	6333	/	-292
	=	21.69

BlackRock's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, BlackRock's Interest Expense was $-82 Mil. Its Operating Income was $1,644 Mil. And its Long-Term Debt & Capital Lease Obligation was $9,702 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	1644	/	-82
	=	20.05

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

BlackRock (NYSE:BLK) 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 .

BlackRock Interest Coverage Related Terms

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

BlackRock (BlackRock) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » BlackRock Inc (NYSE:BLK) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

BLK:Peru BLK:Mexico 1BLK:Italy BLQAd:UK BLQA:Germany BLQA:Germany BLQA:Germany BLQA:Germany BLAK34:Brazil BLK:Austria

Address

50 Hudson Yards, New York, NY, USA, 10001

Website

https://www.blackrock.com

BlackRock is the largest asset manager in the world, with $9.101 trillion in AUM at the end of September 2023. Product mix is fairly diverse, with 52% of the firm's managed assets in equity strategies, 28% in fixed income, 9% in multi-asset class, 8% in money market funds, and 3% in alternatives. Passive strategies account for around two thirds of long-term AUM, with the company's ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for around 80% of AUM. BlackRock is also geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the U.S. and Canada.

Executives

Laurence Fink	director, officer: Chairman and CEO	BLACKROCK, INC., 50 HUDSON YARDS, NEW YORK NY 10001
Mark Wiedman	officer: Senior Managing Director	50 HUDSON YARDS, NEW YORK NY 10001
Amin H. Nasser	director	50 HUDSON YARDS, NEW YORK NY 10001
J. Richard Kushel	officer: Senior Managing Director	BLACKROCK, INC., 50 HUDSON YARDS, NEW YORK NY 10001
Martin Small	officer: CFO & Senior Managing Director	50 HUDSON YARDS, NEW YORK NY 10001
Marc D. Comerchero	officer: Principal Accounting Officer	BLACKROCK, INC., 50 HUDSON YARDS, NEW YORK NY 10001
Stephen Cohen	officer: Senior Managing Director	55 EAST 52ND STREET, NEW YORK NY 10055
Caroline Heller	officer: Senior Managing Director	50 HUDSON YARDS, NEW YORK NY 10001
Manish Mehta	officer: Senior Managing Director	55 EAST 52ND STREET, NEW YORK NY 10055
Rachel Lord	officer: Senior Managing Director	55 EAST 52ND STREET, NEW YORK NY 10055
Mark Mccombe	officer: Senior Managing Director	BLACKROCK, INC., 55 EAST 52ND STREET, NEW YORK NY 10055
Robert Kapito	director, officer: President	100 BELLEVUE PARKWAY, WILMINGTON DE 19809
William E Ford	director	55 EAST 52ND STREET, 32ND FLOOR, NEW YORK NY 10055
Kristin C Peck	director	C/O ZOETIS INC., 10 SYLVAN WAY, PARSIPPANY NJ 07054
Beth Ford	director	C/O CORPORATE SECRETARY SCHOLASTIC CORP, 557 BROADWAY, NEW YORK NY 10012