Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Western Asset Global High Fd's annualizedNet Income for the quarter that ended in Nov. 2021 was $-4.72 Mil. Western Asset Global High Fd's average total tangible assets for the quarter that ended in Nov. 2021 was $347.86 Mil. Therefore, Western Asset Global High Fd's annualized Return-on-Tangible-Asset for the quarter that ended in Nov. 2021 was -1.36%.
The historical rank and industry rank for Western Asset Global High Fd's Return-on-Tangible-Asset or its related term are showing as below:
EHI'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.2 Med: 2.29 Max: 12.13
Current: 2.38
During the past 4 years, Western Asset Global High Fd's highest Return-on-Tangible-Asset was 12.13%. The lowest was -0.20%. And the median was 2.29%.
EHI's Return-on-Tangible-Asset is ranked worse than 71.8% of 1720
companies
in the Asset Management industry
Industry Median: 7.55
vs EHI: 2.38
Western Asset Global High Fd Return-on-Tangible-Asset Historical Data
The historical data trend for Western Asset Global High Fd's Return-on-Tangible-Asset 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
Return-on-Tangible-Asset
0.24
4.34
-0.20
12.13
Western Asset Global High Fd Semi-Annual Data
Nov17
May18
Nov18
May19
Nov19
May20
Nov20
May21
Nov21
Return-on-Tangible-Asset
6.44
-7.06
19.90
6.03
-1.36
Competitive Comparison
For the Asset Management subindustry, Western Asset Global High Fd's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset Distribution
For the Asset Management industry and Financial Services sector, Western Asset Global High Fd's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Western Asset Global High Fd's Return-on-Tangible-Asset falls into.
Western Asset Global High Fd Return-on-Tangible-Asset Calculation
Western Asset Global High Fd's annualized Return-on-Tangible-Asset for the fiscal year that ended in May. 2021 is calculated as:
* 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is two times the semi-annual (Nov. 2021) net income data.
Western Asset Global High Fd (NYSE:EHI) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset 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 Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Western Asset Global High Fd Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Western Asset Global High Fd's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
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.
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