WESTERN ASSET EMERGING MARKETS DEBT FUND INC. (EMD)
Operated by Legg Mason Partners Fund Advisor, LLC, the Western Asset Emerging Markets Debt Fund Inc. is an open-end mutual fund dedicated to fixed-income investments. Additional management support is provided by Western Asset Management Company, Western Asset Management Company Limited, and Western Asset Management Company Pte. Ltd. The fund's primary objective is to invest in debt instruments from emerging market countries across the globe, including fixed income securities issued by governments, government-related entities, and corporate entities, irrespective of their maturity or credit quality. Its portfolio construction relies on a combination of fundamental analysis and a top-down selection methodology. This process considers a range of factors such as currency movements, inflation and interest rate trends, economic growth forecasts, the liquidity of a nation's debt markets, its political landscape, and tax policies. The fund benchmarks its performance against the JPMorgan Emerging Markets Bond Index Global. Established in the United States on December 1, 2003, it was previously known as Salomon Brothers Emerging Markets Debt Fund Inc.
Industry: Asset Management
Western Asset Emerging Markets Debt Fund Inc.
NYSE:EMDFinancial Services · Asset Management
-1.63%$9.08
AH Close$9.08+0.00%vs close
AH Close$9.08+0.00%vs close
Mkt Cap$527.82M
Float57.55M
O/S58.13M
Inst Own34.2%
SI0.1%
Div Yield12.56%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$61.21M
Net Income$101.13M
Total Assets$896.14M
Free Cash Flow$32.61M
Debt & Equity
Debt 27%
Equity 73%
Total Debt$238.78M
Total Equity$653.22M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in EMD's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$896.14M
Liabilities$242.92M
Accounts Receivable$17.15M
Accounts Payable$2.96M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Revenue | $61.21M | $69.69M | $14.14M | -$4.75M | $57.52M | $48.81M | $139.78M | -$100.93M | $104.39M | $41.16M | $39.38M | $42.95M | $42.11M | $45.07M |
| YoY Growth | -12.2% | 392.9% | -397.3% | -108.3% | 17.8% | -65.1% | -238.5% | -196.7% | 153.6% | 4.5% | -8.3% | 2.0% | -6.6% | - |
| Cost of Revenue | $7.64M | $0 | $14.36M | $6.21M | $10.87M | $11.05M | $11.88M | $11.58M | $12.21M | $8.56M | $7.04M | $7.27M | $0 | $0 |
| Gross Profit | $53.57M | $69.69M | $65.48M | $60.69M | $46.64M | $37.77M | $127.91M | -$112.51M | $92.19M | $32.6M | $32.34M | $35.68M | $42.11M | $45.07M |
| Gross Margin | 87.5% | 100.0% | 463.2% | -1276.4% | 81.1% | 77.4% | 91.5% | 111.5% | 88.3% | 79.2% | 82.1% | 83.1% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $31 | $0 | $0 | $3 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $1.24M | $8.21M | $658K | $793K | $786K | $1.01M | $733K | $732K | $795K | $6.98M | $6.23M | $6.67M | $6.53M | $6.79M |
| Other | -$60.11M | $0 | $496K | $419K | $10.71M | $10.85M | $1.19M | $625K | $182K | $70K | $28K | $64K | $0 | $0 |
| Total Operating Expenses | -$58.87M | $8.21M | $1.15M | $1.21M | $11.5M | $11.86M | $1.92M | $1.36M | $977K | $28.35M | $53.18M | $27.68M | $98.56M | $56.21M |
| Operating Income (EBIT) | $112.44M | $61.48M | $85.83M | -$142.46M | -$33.16M | $49.2M | $137.86M | -$91.73M | $109.71M | $34.17M | $33.15M | $36.28M | $35.58M | $38.28M |
| Operating Margin | 183.7% | 88.2% | 607.1% | 2996.2% | -57.7% | 100.8% | 98.6% | 90.9% | 105.1% | 83.0% | 84.2% | 84.5% | 84.5% | 84.9% |
| Interest Expense | $11.36M | $13.69M | $14.36M | $6.21M | $2.57M | $4.49M | $11.21M | $10.57M | $6.32M | $35.33M | $0 | $0 | $0 | $0 |
| Interest Income | $68.09M | $0 | $65.39M | $60.74M | $71.79M | $75.03M | $94.75M | $87.71M | $90.67M | $0 | $951K | $725K | $311K | $15K |
| Other Income (Expense) | -$11.31M | $71K | -$14.43M | -$7.15M | -$2.85M | -$1.95M | $0 | $11.58M | $25.75M | $33.59M | -$47.9M | -$21.74M | -$92.34M | $63.02M |
| Income Before Tax (EBT) | $101.13M | $61.55M | $71.4M | -$149.61M | -$36.01M | $47.25M | $137.86M | -$102.29M | $103.4M | $67.76M | -$14.75M | $14.54M | -$56.76M | $101.3M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$161K | $77.65M | $0 | $4K | $91K | $770K | $686K |
| Net Income | $101.13M | $61.55M | $71.4M | -$149.61M | -$36.01M | $47.25M | $137.86M | -$102.29M | $103.4M | $67.76M | -$14.75M | $14.45M | -$57.53M | $100.62M |
| Net Income Margin | 165.2% | 88.3% | 505.0% | 3146.5% | -62.6% | 96.8% | 98.6% | 101.3% | 99.0% | 164.6% | -37.5% | 33.6% | -136.6% | 223.2% |
| Supplementary Data | ||||||||||||||
| EPS | 1.74 | 1.06 | 1.22 | -2.48 | -0.59 | 0.78 | 2.27 | -1.68 | 1.70 | 1.12 | -0.48 | 0.47 | -1.87 | 3.27 |
| Diluted EPS | 1.74 | 1.06 | 1.22 | -2.48 | -0.59 | 0.78 | 2.27 | -1.68 | 1.70 | 1.12 | -0.48 | 0.47 | -1.87 | 3.27 |
| Weighted Average OS | 58.13M | 58.13M | 58.44M | 60.25M | 60.75M | 60.75M | 60.75M | 60.75M | 60.75M | 60.75M | 30.79M | 30.79M | 30.79M | 30.76M |
| EBITDA | $112.48M | $61.48M | $85.83M | -$142.46M | -$33.16M | $49.2M | $137.99M | -$205.59M | $104.13M | $103.09M | -$61.7M | -$6.47M | $0 | $0 |
| EBITDA Margin | 183.8% | 88.2% | 607.1% | 2996.2% | -57.7% | 100.8% | 98.7% | 203.7% | 99.8% | 250.5% | -156.7% | -15.1% | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $932K | $189 | $241 | $3.11M | $2.8M | $1.42M | $0 | $5.11M | $6.89M | $940K | $761K | $1.77M | $3.89M | $5.95M |
| Short-Term Investments | $692K | $8.89M | $0 | $0 | $0 | $14.53M | $30.77M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.62M | $8.89M | $241 | $3.11M | $2.8M | $15.95M | $0 | $5.11M | $6.89M | $940K | $761K | $1.77M | $3.89M | $5.95M |
| Accounts Receivable | $17.15M | $14.66M | $16.07M | $14.63M | $18.2M | $18.62M | $21.8M | $21.67M | $24.49M | $21.59M | $9.71M | $11.43M | $11.35M | $11.95M |
| Inventory | $0 | $0 | -$4K | $0 | $0 | $0 | $53.9M | $0 | $49.7M | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | -$3K | -$14.67M | $1.61M | -$640K | -$82.78M | -$15.96M | -$53.91M | $7.22M | $3.06M | $12.04M | $21.28M | $29.92M | $1.06M | $4.12M |
| Total Current Assets | $18.77M | $8.89M | $17.68M | $17.1M | $21M | $18.62M | $21.8M | $26.78M | $31.38M | $34.58M | $31.76M | $43.12M | $16.3M | $22.02M |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $877.36M | $803.21M | $855.38M | $837.91M | $1.15B | $1.28B | $1.32B | $1.25B | $1.4B | $1.3B | $574.91M | $626.04M | $627.31M | $670.85M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $3K | $0 | $0 | $0 | $0 | $0 | $0 | -$1.25B | -$1.4B | $0 | $0 | $0 | $0 | -$670.85M |
| Total Long-Term Assets | $877.37M | $803.21M | $855.38M | $837.91M | $1.15B | $1.28B | $1.32B | $1.25B | $1.4B | $1.3B | $574.91M | $626.04M | $627.31M | $670.85M |
| Other Assets | $0 | $6.28M | -$725K | $2.39M | $2.94M | $1.3B | $3.2M | $3.12M | $2.55M | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $896.14M | $818.37M | $872.34M | $857.4M | $1.18B | $1.3B | $1.35B | $1.28B | $1.43B | $1.34B | $606.67M | $669.16M | $643.61M | $692.87M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $2.96M | $918K | $1.48M | $3.44M | $162K | $216K | $931K | $613K | $7.96M | $972K | $500K | $0 | $0 | $1.76M |
| Short-Term Debt | $23.78M | $200M | $182K | $235M | $44.98M | $66.67M | $0 | $0 | $0 | $295M | $101.78M | $109.19M | $53.95M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $18K | $0 | $244K | $152K | $0 | $102K | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | -$1.3M | -$231.56M | -$44.82M | -$66.46M | -$85.49M | -$84.41M | -$48.77M | -$972K | -$500K | $0 | $0 | $0 |
| Other Current Liabilities | -$3.63M | -$200.61M | -$829K | -$4.25M | -$1.32M | -$1.61M | $84.35M | -$2.12M | -$9.32M | $2.25M | $820K | $805K | $1.22M | $1.61M |
| Total Current Liabilities | $23.78M | $918K | $182K | $3.44M | $162K | $216K | $931K | $613K | $7.96M | $297.25M | $102.6M | $110M | $55.17M | $3.37M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $215M | $200M | $250M | $235M | $339.98M | $295M | $0 | $0 | $0 | $295M | $101.8M | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $4.14M | $837K | $3.3M | $2.15M | $3.44M | $0 | $0 | $0 | $0 | -$295M | -$101.8M | $0 | $0 | $0 |
| Total Long-Term Liabilities | $219.14M | $200.84M | $253.3M | $237.15M | $343.42M | $361.67M | $381.42M | $380.02M | $351.74M | $295M | $101.8M | $0 | $0 | $0 |
| Other Liabilities | $0 | $201.76M | $0 | $233.71M | $343.26M | $368.55M | $5.42M | $6.95M | $3.2M | -$295M | -$101.8M | $0 | $0 | $0 |
| Total Liabilities | $242.92M | $201.76M | $254.78M | $240.59M | $343.58M | $368.55M | $387.77M | $387.59M | $362.9M | $297.25M | $102.6M | $110M | $55.17M | $3.37M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $131.16M | $2.75M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $58K | $58K | $58K | $60K | $61K | $61K | $61K | $61K | $61K | $61K | $31K | $31K | $31K | $31K |
| Retained Earnings | -$298.48M | -$354.84M | -$367.01M | -$399.77M | -$206.42M | -$131.77M | -$141.75M | -$217.51M | -$826K | -$85.07M | -$77.72M | -$27.49M | $1.7M | $102.79M |
| Comprehensive Income & Other | $0 | $0 | $0 | -$131.16M | -$2.75M | $0 | $0 | $0 | -$49.31M | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $951.65M | $971.4M | $984.51M | $1.02B | $1.04B | $1.07B | $1.1B | $1.11B | $1.07B | $1.12B | $581.75M | $586.62M | $586.71M | $586.68M |
| Total Equity | $653.22M | $616.62M | $617.56M | $616.81M | $832.54M | $934.16M | $958.28M | $893.31M | $1.07B | $1.04B | $504.07M | $559.16M | $588.44M | $689.5M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $896.14M | $818.37M | $872.34M | $857.4M | $1.18B | $1.3B | $1.35B | $1.28B | $1.43B | $1.34B | $606.67M | $669.16M | $643.61M | $692.87M |
| Supplementary Data | ||||||||||||||
| Total Debt | $238.78M | $200M | $250.18M | $235M | $339.98M | $361.67M | $381.42M | $380.02M | $351.74M | $295M | $101.78M | $109.19M | $53.95M | $0 |
| Net Debt | $237.85M | -$189 | $250M | $232.53M | $339.72M | $360.25M | $381.42M | $374.91M | $344.85M | $294.06M | $101.02M | $107.43M | $50.06M | -$5.95M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Operating Activities | ||||||||||||||
| Net Income | $101.13M | $61.55M | $71.4M | -$149.61M | -$36.01M | $47.25M | $137.86M | -$102.29M | $103.4M | $67.76M | -$14.75M | $14.45M | -$57.53M | $100.62M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | -$2.48M | $1.42M | -$1.52M | $3.67M | -$159K | $2.72M | -$230K | $3.32M | -$3.08M | -$2.88M | $1.72M | -$85K | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $2.02M | -$36K | -$2.48M | -$341K | $11K | -$282K | $492K | -$7.7M | $7.68M | -$472K | $0 | $0 | $0 | $0 |
| Other Working Capital | -$381K | -$482K | $218K | $1.64M | $336K | -$860K | $681K | $652K | -$1.14M | -$533K | -$813K | -$400K | $0 | $0 |
| Total Working Capital Change | -$841K | $926K | -$3.78M | $4.97M | $762K | $1.58M | $943K | -$3.73M | $3.46M | -$3.41M | $905K | -$484K | $0 | $0 |
| Other Non-Cash Items | -$67.67M | $49.82M | -$16.76M | $315.5M | $122.25M | $43.81M | -$72.59M | $148.68M | -$81.8M | -$106.35M | $60.6M | -$27.61M | $57.53M | -$100.62M |
| Net Cash from Operating | $32.61M | $112.29M | $50.86M | $170.86M | $87M | $92.64M | $66.21M | $42.66M | $25.05M | -$42M | $46.75M | -$13.64M | $0 | $0 |
| Investing Activities | ||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$432.46M | -$303.29M | -$443.04M | -$363.35M | -$406.79M | -$687.73M | -$366.8M | -$553.93M | -$502.28M | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $451.96M | $375.08M | $463.35M | $467.31M | $431.42M | $724.89M | $382.14M | $553.07M | $453.75M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | -$71.79M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $19.5M | $71.79M | $20.31M | $103.96M | $24.63M | $37.16M | $15.34M | -$859K | -$48.53M | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | ||||||||||||||
| Debt Repaid | -$15M | $50M | -$15M | $104.98M | $21.69M | $19.75M | -$1.4M | -$28.28M | -$56.74M | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | -$3.09M | -$15.81M | -$5.18M | $0 | $0 | $0 | $0 | $0 | -$4K | $0 | $0 | $0 | $0 |
| Dividends Paid | -$64.52M | -$59.4M | -$54.84M | -$60.94M | -$65.61M | -$71.38M | -$72.9M | -$72.9M | -$73.5M | -$38.8M | -$40.34M | -$43.73M | $0 | $0 |
| Other Financing Activities | $23.77M | -$182K | $182K | -$104.98M | -$21.69M | $0 | $0 | $0 | $0 | $48.22M | -$7.41M | $55.24M | $0 | $0 |
| Net Cash from Financing | -$25.74M | -$112.67M | -$55.47M | -$171.1M | -$87.29M | -$91.13M | -$71.5M | -$44.61M | -$16.76M | $9.42M | -$47.75M | $11.52M | $0 | $0 |
| Forex Effect | -$25.94M | $1.18M | $1.6M | -$103.96M | -$24.63M | -$37.16M | -$15.34M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $432K | -$382K | -$4.61M | -$247K | -$295K | $1.51M | -$5.29M | -$1.95M | $8.29M | $179K | -$1.01M | $1.77M | $0 | $0 |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $32.61M | $112.29M | $50.86M | $170.86M | $87M | $92.64M | $66.21M | $42.66M | $25.05M | -$42M | $46.75M | -$13.64M | $0 | $0 |
| Capital Expenditure | $0 | $3 | $0 | -$4 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $32.61M | $112.29M | $50.86M | $170.86M | $87M | $92.64M | $66.21M | $42.66M | $25.05M | -$42M | $46.75M | -$13.64M | $0 | $0 |
| Cash at Beginning | $501K | $882K | $5.49M | $5.74M | $6.03M | $4.52M | $9.81M | $11.76M | $940K | $761K | $1.77M | -$10 | $0 | $0 |
| Cash at End | $932K | $501K | $882K | $5.49M | $5.74M | $6.03M | $4.52M | $9.81M | $9.23M | $940K | $761K | $1.77M | $0 | $0 |