Legg Mason (Legg Mason) Net Income : $255 Mil (TTM As of Jun. 2020)

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What is Legg Mason Net Income?

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax. Legg Mason's Net Income for the three months ended in Jun. 2020 was $49 Mil. Its Net Income for the trailing twelve months (TTM) ended in Jun. 2020 was $255 Mil.

Net Income is linked to the most popular Earnings per Share (Diluted) number. Legg Mason's Earnings per Share (Diluted) for the three months ended in Jun. 2020 was $0.55.

Legg Mason Net Income Historical Data

The historical data trend for Legg Mason's Net Income 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.

* Premium members only.

Legg Mason Net Income Chart

Legg Mason Annual Data

Trend

Mar11

Mar12

Mar13

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Net Income

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-25.03

227.26

285.08

-28.51

251.37

Legg Mason Quarterly Data
	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20
Net Income	Get a 7-Day Free Trial															45.35	67.08	74.78	64.16	49.42

Legg Mason Net Income Calculation

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax.

Net Income
= Revenue - Cost of Goods Sold - Selling, General, & Admin. Expense - Research & Development - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= EBITDA - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Operating Income - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Pre-Tax Income - Tax Expense + Others

Legg Mason's Net Income for the fiscal year that ended in Mar. 2020 is calculated as

	Net Income		(A: Mar. 2020 )
=	Pre-Tax Income	+	Tax Provision	+	Net Income (Discontinued Operations)	+	Others
=	410.534	+	-106.048	+	0	+	-53.119
=	251

Legg Mason's Net Income for the quarter that ended in Jun. 2020 is calculated as

	Net Income		(Q: Jun. 2020 )
=	Pre-Tax Income	+	Tax Provision	+	Net Income (Discontinued Operations)	+	Others
=	69.004	+	-13.93	+	0	+	-5.652
=	49

Net Income 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 $255 Mil.

Legg Mason (NYSE:LM) Net Income Explanation

Net Income is the most widely cited number in reporting a company's profitability. It is linked to the most popular earnings-per-share (EPS) number through:

Legg Mason's Earnings per Share (Diluted) (EPS) for the quarter that ended in Jun. 2020 is calculated as

Earnings per Share (Diluted) (Q: Jun. 2020 )	=	(Net Income	-	Preferred Dividends)	/	Shares Outstanding (Diluted Average)
	=	(49.422	-	0)	/	90.199
	=	0.55

Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.

EPS is most useful for companies that have:

A predictable business
Consistent accounting methods
And few restructurings

The dividend paid to preferred stocks needs to be subtracted from the total net income in the calculation of EPS because common stock holders are not entitled to that part of the net income.

Be Aware

Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred Net Income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.

Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.

If net earnings is less than 10%, likely to be in a highly competitive business.

Legg Mason Net Income 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 » Net Income

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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.