Affiliated Managers Group (Affiliated Managers Group) Interest Coverage

: 5.08 (As of Dec. 2023)

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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. Affiliated Managers Group's Operating Income for the three months ended in Dec. 2023 was $160 Mil. Affiliated Managers Group's Interest Expense for the three months ended in Dec. 2023 was $-31 Mil. Affiliated Managers Group's interest coverage for the quarter that ended in Dec. 2023 was 5.08. The higher the ratio, the stronger the company's financial strength is.

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

AMG' s Interest Coverage Range Over the Past 10 Years
Min: 5.9 Med: 8.16 Max: 9.9
Current: 6.5

AMG's Interest Coverage is ranked worse than
69.03% of 452 companies
in the Asset Management industry
Industry Median: 37.795 vs AMG: 6.50

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

Affiliated Managers Group Interest Coverage Historical Data

The historical data trend for Affiliated Managers Group'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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Affiliated Managers Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

9.90

7.18

8.67

7.04

5.90

Affiliated Managers Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Coverage																4.69	8.48	5.91	6.65	5.08

Competitive Comparison

For the Asset Management subindustry, Affiliated Managers Group'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.

Affiliated Managers Group Interest Coverage Distribution

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

* The bar in red indicates where Affiliated Managers Group's Interest Coverage falls into.

Affiliated Managers Group 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.

Affiliated Managers Group'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, Affiliated Managers Group's Interest Expense was $-124 Mil. Its Operating Income was $731 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,538 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	730.8	/	-123.8
	=	5.90

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

Here, for the three months ended in Dec. 2023, Affiliated Managers Group's Interest Expense was $-31 Mil. Its Operating Income was $160 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,538 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	159.5	/	-31.4
	=	5.08

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

Affiliated Managers Group (NYSE:AMG) 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 .

Affiliated Managers Group Interest Coverage Related Terms

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

Affiliated Managers Group (Affiliated Managers Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Affiliated Managers Group Inc (NYSE:AMG) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

777 South Flagler Drive, West Palm Beach, FL, USA, 33401

Website

https://www.amg.com

Affiliated Managers Group offers investment strategies to investors through its network of affiliates. The firm typically buys a majority interest in small to midsize boutique asset managers, receiving a fixed percentage of revenue from these firms in return. Affiliates operate independently, with AMG providing strategic, operational, and technology support, as well as global distribution. At the end of September 2023, AMG's affiliate network—which includes firms like AQR Capital Management, and Pantheon in alternative assets and other products (which accounted for 36% of AUM), Artemis, Genesis, Harding Loevner, and Tweedy Browne in global and emerging-market equities (27%) and Frontier, River Road, Parnassus, and Yacktman in U.S. equities (21%)—had $635.8 billion in managed assets.

Executives

Loren M Starr	director
Reuben Iii Jeffery	director	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DR., STE. 1401 E TOWER, WEST PALM BEACH FL 33401
Tracy P. Palandjian	director	SOCIAL FINANCE, INC., 200 STATE STREET, 14TH FLOOR, BOSTON MA 02109
John R Erickson	officer: Head of Affiliate Engagement	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Rizwan M Jamal	officer: Head of Affiliate Investments	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Jay C. Horgen	director, officer: President and CEO	AFFILIATED MANAGERS GROUP, INC., 777 S. FLAGLER DR., SUITE 1201 E. TOWER, WEST PALM BEACH FL 33401
Dwight D. Churchill	director	44 GAGE ROAD, BEDFORD NH 03110
David Christopher Ryan	director	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Matos Rodriguez Felix V.	director	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Tracy A Atkinson	director	MFS INVESTMENT MANAGEMENT, 500 BOYLSTON ST., BOSTON MA 02116
Hugh Cutler	officer: EVP, Global Distribution	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Thomas M Wojcik	officer: Chief Financial Officer	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Samuel T Byrne	director	CROSSHARBOR CAPITAL PARTNERS, ONE BOSTON PLACE, SUITE 2300, BOSTON MA 02108
Sean M Healey	director, officer: Executive Chairman	C/O AFFILIATED MANAGERS GROUP INC, 777 S. FLAGLER DR., SUITE 1201 E. TOWER, WEST PALM BEACH FL 33401
David M. Billings	officer: General Counsel and Secretary	C/O AFFILIATED MANAGERS GROUP, INC., 600 HALE ST., PO BOX 1000, PRIDES CROSSING MA 01965