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BLK (BlackRock) Interest Coverage : 14.31 (As of Jun. 2024)


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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 Jun. 2024 was $1,803 Mil. BlackRock's Interest Expense for the three months ended in Jun. 2024 was $-126 Mil. BlackRock's interest coverage for the quarter that ended in Jun. 2024 was 14.31. 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: 17.72   Med: 26.73   Max: 36.53
Current: 17.72


BLK's Interest Coverage is ranked worse than
59.03% of 454 companies
in the Asset Management industry
Industry Median: 55.505 vs BLK: 17.72

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.

* Premium members only.

BlackRock Interest Coverage Chart

BlackRock Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Interest Coverage
Get a 7-Day Free Trial Premium Member Only Premium Member Only 27.76 30.80 36.53 30.61 21.69

BlackRock Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
Interest Coverage Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 23.45 19.93 20.05 18.35 14.31

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 Jun. 2024 is calculated as

Here, for the three months ended in Jun. 2024, BlackRock's Interest Expense was $-126 Mil. Its Operating Income was $1,803 Mil. And its Long-Term Debt & Capital Lease Obligation was $11,678 Mil.

Interest Coverage=-1* Operating Income (Q: Jun. 2024 )/Interest Expense (Q: Jun. 2024 )
=-1*1803/-126
=14.31

* 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.

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 Business Description

Address
50 Hudson Yards, New York, NY, USA, 10001
BlackRock is the largest asset manager in the world, with $10.646 trillion in assets under management at the end of June 2024. Its product mix is fairly diverse, with 55% of managed assets in equity strategies, 26% in fixed income, 9% in multiasset classes, 7% 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 geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the US and Canada.
Executives
Mark Wiedman officer: Senior Managing Director 50 HUDSON YARDS, NEW YORK NY 10001
J. Richard Kushel officer: Senior Managing Director BLACKROCK, INC., 50 HUDSON YARDS, NEW YORK NY 10001
Laurence Fink director, officer: Chairman and CEO BLACKROCK, INC., 50 HUDSON YARDS, NEW YORK NY 10001
Pamela Daley director C/O PATHEON N.V., HERENGRACHT 483, AMSTERDAM P7 1017 BT
Rachel Lord officer: Senior Managing Director 55 EAST 52ND STREET, NEW YORK NY 10055
Stephen Cohen officer: Senior Managing Director 55 EAST 52ND STREET, NEW YORK NY 10055
Christopher J. Meade officer: General Counsel and CLO BLACKROCK, INC., 55 EAST 52ND STREET, NEW YORK NY 10055
Marc D. Comerchero officer: Principal Accounting Officer BLACKROCK, INC., 50 HUDSON YARDS, NEW YORK NY 10001
Martin Small officer: CFO & Senior Managing Director 50 HUDSON YARDS, NEW YORK NY 10001
Amin H. Nasser director 50 HUDSON YARDS, NEW YORK NY 10001
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
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