Name: Equity Multiplier

Definition: The equity multiplier shows how much total assets the company controls for every dollar invested by shareholders. It reflects how much debt is being used to stretch owners’ equity. A higher multiplier means greater use of debt to amplify returns — but also amplifies risk if things go wrong. Lower multipliers suggest a safer, more self-funded business.

Interpretation:
• In '2021', HYI's equity multiplier was 1.02, representing the level of financial leverage utilized. Industry average for Investment Managers in '2021' stood at 1.90.
• In '2022', HYI's equity multiplier was 1.01, representing the level of financial leverage utilized. The decrease since '2021' reflects improving financial health. Industry average for Investment Managers in '2022' stood at 1.69. Industry average declined by 0.21 from previous year.
• In '2023', HYI's equity multiplier was 1.01, representing the level of financial leverage utilized. The decrease since '2022' reflects improving financial health. Industry average for Investment Managers in '2023' stood at 1.69. Industry average increased by 0.00 compared to previous year.
• In '2024', HYI's equity multiplier was 1.04, representing the level of financial leverage utilized. The increase compared to '2023' may signal growing financial pressure. Industry average for Investment Managers in '2024' stood at 1.76. Industry average increased by 0.07 compared to previous year.
Overall, HYI's equity multiplier has remained generally stable over the past 4 years.

Formula: Equity Multiplier = Total Assets / Shareholders' Equity

Good Range: Usually ranges from 1.5 to 3 depending on industry.