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Western Asset Global High Fd ROA %

: 6.03% (As of May. 2021)
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ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. Western Asset Global High Fd's annualized Net Income for the quarter that ended in May. 2021 was $21.43 Mil. Western Asset Global High Fd's average Total Assets over the quarter that ended in May. 2021 was $355.41 Mil. Therefore, Western Asset Global High Fd's annualized ROA % for the quarter that ended in May. 2021 was 6.03%.

The historical rank and industry rank for Western Asset Global High Fd's ROA % or its related term are showing as below:

NYSE:EHI' s ROA % Range Over the Past 10 Years
Min: -0.2   Med: 2.29   Max: 13.36
Current: 13.36

-0.2
13.36

During the past 4 years, Western Asset Global High Fd's highest ROA % was 13.36%. The lowest was -0.20%. And the median was 2.29%.

NYSE:EHI's ROA % is ranked higher than
57% of the 1705 Companies
in the Asset Management industry.

( Industry Median: 10.19 vs. NYSE:EHI: 13.36 )

Western Asset Global High Fd ROA % Historical Data

The historical data trend for Western Asset Global High Fd's ROA % 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.

Western Asset Global High Fd Annual Data
Trend May18 May19 May20 May21
ROA %
0.24 4.34 -0.20 12.13

Western Asset Global High Fd Semi-Annual Data
Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21
ROA % Premium Member Only Premium Member Only Premium Member Only 10.88 6.44 -7.06 19.90 6.03

Competitive Comparison

For the Asset Management subindustry, Western Asset Global High Fd's ROA %, along with its competitors' market caps and ROA % 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.

   

Western Asset Global High Fd ROA % Distribution

For the Asset Management industry and Financial Services sector, Western Asset Global High Fd's ROA % distribution charts can be found below:

* The bar in red indicates where Western Asset Global High Fd's ROA % falls into.



Western Asset Global High Fd ROA % Calculation

Western Asset Global High Fd's annualized ROA % for the fiscal year that ended in May. 2021 is calculated as:

ROA %=Net Income (A: May. 2021 )/( (Total Assets (A: May. 2020 )+Total Assets (A: May. 2021 ))/ count )
=59.643/( (628.177+355.439)/ 2 )
=59.643/491.808
=12.13 %

Western Asset Global High Fd's annualized ROA % for the quarter that ended in May. 2021 is calculated as:

ROA %=Net Income (Q: May. 2021 )/( (Total Assets (Q: Nov. 2020 )+Total Assets (Q: May. 2021 ))/ count )
=21.426/( (355.378+355.439)/ 2 )
=21.426/355.4085
=6.03 %

* 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.

In the calculation of annual ROA %, the net income of the last fiscal year and the average total assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is two times the semi-annual (May. 2021) net income data. ROA % is displayed in the 30-year financial page.


Western Asset Global High Fd  (NYSE:EHI) ROA % Explanation

ROA % measures the rate of return on the total assets (shareholder equity plus liabilities). It measures a firm's efficiency at generating profits from shareholders' equity plus its liabilities. ROA % shows how well a company uses what it has to generate earnings. ROA %s can vary drastically across industries. Therefore, ROA % should not be used to compare companies in different industries. For retailers, a ROA % of higher than 5% is expected. For example, Wal-Mart (WMT) has a ROA % of about 8% as of 2012. For banks, ROA % is close to their interest spread. A bank’s ROA % is typically well under 2%.

Similar to ROE, ROA % is affected by profit margins and asset turnover. This can be seen from the Du Pont Formula:

ROA %(Q: May. 2021 )
=Net Income/Total Assets
=21.426/355.4085
=(Net Income / Revenue)*(Revenue / Total Assets)
=(21.426 / 21.956)*(21.956 / 355.4085)
=Net Margin %*Asset Turnover
=97.59 %*0.0618
=6.03 %

Note: The Net Income data used here is two times the semi-annual (May. 2021) net income data. The Revenue data used here is two times the semi-annual (May. 2021) revenue data.

* 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.


Be Aware

Like ROE, ROA % is calculated with only 12 months data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. ROA % can be affected by events such as stock buyback or issuance, and by goodwill, a company's tax rate and its interest payment. ROA % may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).

Many analysts argue the higher return the better. Buffett states that really high ROA % may indicate vulnerability in the durability of the competitive advantage.

E.g. Raising $43b to take on KO is impossible, but $1.7b to take on Moody's is. Although Moody's ROA % and underlying economics is far superior to Coca Cola, the durability is far weaker because of lower entry cost.


Western Asset Global High Fd ROA % Related Terms

Thank you for viewing the detailed overview of Western Asset Global High Fd's ROA % provided by GuruFocus.com. Please click on the following links to see related term pages.


Western Asset Global High Fd Business Description

Western Asset Global High Fd logo
Industry
Financial Services » Asset Management NAICS : 523930 SIC : 6282
Traded in Other Exchanges
N/A
Address
620 Eighth Avenue, 49th Floor, New York, NY, USA, 10018
Western Asset Global High Inc Fd Inc is a non-diversified, closed-end management investment company. Its investment objective is high current income and total return by investing in a global portfolio of securities. The fund invests in various sectors such as Consumer Discretionary, Energy, Healthcare, Industrials, materials, and others.
Executives
Fergerson Laura F other: Manager/Investment Manager 3310 QUALITY DRIVE 2ND FLOOR RANCHO CORDOVA CA 95670
Eakes Brian other: Manager/Investment Manager 100 INTERNATIONAL DRIVE BALTIMORE MD 21202
Hoyt George P. officer: Secretary and Ch Lgl Officer C/O FRANKLIN TEMPLETON 100 FIRST STAMFORD PLACE STAMFORD CT 06902
Nicholls Matthew other: Director of Sub-Adviser ONE FRANKLIN PARKWAY SAN MATEO CA 94403
Bolt Jennifer J other: Director of Sub-Adviser C/O FRANKLIN RESOURCES, INC. ONE FRANKLIN PARKWAY SAN MATEO CA 94403-1906
Plafker Jed A. other: Director of Sub-Adviser ONE FRANKLIN PARKWAY SAN MATEO CA 94403
Saba Capital Management, L.p. 10 percent owner 405 LEXINGTON AVENUE 58TH FLOOR NEW YORK NY 10174
Weinstein Boaz 10 percent owner 405 LEXINGTON AVENUE 58TH FLOOR NEW YORK NY 10174
Jensen Fred Steven officer: Chief Compliance Officer LEGG MASON 620 EIGHTH AVENUE, 49TH FLOOR NEW YORK NY 10018
Cronin Daniel P director 235 EAST 42ND ST NEW YORK NY 10017
Hutchinson William R director 535 N MICHIGAN STE 1012 CHICAGO IL 60611
Berarducci Christopher officer: Treas/Principal Finan Officer LEGG MASON 620 EIGHTH AVENUE NEW YORK NY 10018
Kumar Nisha director 1735 MARKET STREET 32ND FLOOR PHILADELPHIA PA 19103
Berg Jennifer S officer: Treasurer 100 INTERNATIONAL DRIVE 7TH FLOOR BALTIMORE MD 21202
Kuehl Todd F officer: Chief Compliance Officer 1555 PEACHTREE STREET NE ATLANTA 2Q 30309

Western Asset Global High Fd Headlines

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