CIK 704051

LEGG MASON, INC.

CIK 0000704051 · EDGAR ↗

cleanelevatedtriggeredno dataplanned

30.7

composite · 5 signals · ELEVATED

Every card below shows the score and the exact filing data it was computed from — no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded — never a guess.

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Signals

P-07 · FY 2020-03-31 · ELEVATED30.7

Pension underfunding

DB plan 85% funded — -$12M deficit

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2020-05-29) ↗

Evidence — inputs and thresholds

{
  "benefit_obligation": 81019000,
  "plan_assets": 68576000,
  "funded_ratio": 0.8464,
  "deficit": -12443000,
  "deficit_vs_equity": null,
  "thresholds": {
    "elevated": "<90% funded",
    "triggered": "<80% funded or deficit >25% of equity"
  },
  "stale": false,
  "latest_filing_period": "2020-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/704051/000070405120000060/0000704051-20-000060-index.htm",
    "form": "10-K",
    "filed": "2020-05-29"
  }
}

P-12 · FY 2011-03-31 · ELEVATED46.2

Restatement predictor

[FY2011 data, stale] F-Score 1.38 — misstatement risk 1.4x the base rate

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2011-05-27) ↗

Evidence — inputs and thresholds

{
  "f_score": 1.385,
  "probability": 0.00512,
  "components": {
    "rsst": -0.0183,
    "drec": 0.002,
    "dinv": null,
    "soft": 0.8091,
    "dcs": 0.0501,
    "droa": 0.0055,
    "issue": 1
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": true,
  "latest_filing_period": "2020-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/704051/000104746911005564/0001047469-11-005564-index.htm",
    "form": "10-K",
    "filed": "2011-05-27"
  }
}

P-01 · FY 2011-03-31 · CLEAN28.5

Earnings quality

[FY2011 data, stale] Beneish M-Score -2.50 — no manipulation profile

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2011-05-27) ↗

Evidence — inputs and thresholds

{
  "m_score": -2.504,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 0.993,
    "GMI": 1,
    "AQI": 1.038,
    "SGI": 1.057,
    "DEPI": 0.925,
    "SGAI": 1,
    "LVGI": 0.968,
    "TATA": -0.018
  },
  "defaulted_to_neutral": [
    "GMI",
    "SGAI"
  ],
  "sloan_accruals": -0.0183,
  "inputs": {
    "revenue_t": 2784317000,
    "revenue_t1": 2634879000,
    "total_assets_t": 8707756000,
    "net_income_t": 253923000,
    "cfo_t": 412140000
  },
  "stale": true,
  "latest_filing_period": "2020-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/704051/000104746911005564/0001047469-11-005564-index.htm",
    "form": "10-K",
    "filed": "2011-05-27"
  }
}

P-05 · FY 2011-03-31 · CLEAN0.0

Tax arbitrage

[FY2011 data, stale — no more recent pretax-income figure in XBRL] ETR 32.7% — within normal range of statutory

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2011-05-27) ↗

Evidence — inputs and thresholds

{
  "etr_by_year": {
    "2011-03-31": 0.327,
    "2010-03-31": 0.36
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2011-03-31": -0.117,
    "2010-03-31": -0.15
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": true,
  "latest_filing_period": "2020-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/704051/000104746911005564/0001047469-11-005564-index.htm",
    "form": "10-K",
    "filed": "2011-05-27"
  }
}

P-13 · FY 2011-03-31 · CLEAN0.0

Zombie / distress

[FY2011 data, stale — no more recent EBIT figure in XBRL] Interest coverage 4.20x — servicing debt from operations

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2011-05-27) ↗

Evidence — inputs and thresholds

{
  "icr_by_year": {
    "2011-03-31": 4.197,
    "2010-03-31": 2.544,
    "2009-03-31": -3.661,
    "2008-03-31": 11.77
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": 1.988,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 386808000,
    "interest_expense_t": 92157000
  },
  "stale": true,
  "latest_filing_period": "2020-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/704051/000104746911005564/0001047469-11-005564-index.htm",
    "form": "10-K",
    "filed": "2011-05-27"
  }
}