IGM Financial (IGM Financial) Effective Interest Rate on Debt % : 1.74% (As of Dec. 2023)

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What is IGM Financial Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. IGM Financial's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $97 Mil. IGM Financial's average total debt for the quarter that ended in Dec. 2023 was $5,586 Mil. Therefore, IGM Financial's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 1.74%.

IGM Financial Effective Interest Rate on Debt % Historical Data

The historical data trend for IGM Financial's Effective Interest Rate on Debt % 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.

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IGM Financial Effective Interest Rate on Debt % Chart

IGM Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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1.19

1.28

1.44

1.54

1.75

IGM Financial Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															1.63	1.63	1.68	1.67	1.74

Competitive Comparison of IGM Financial's Effective Interest Rate on Debt %

For the Asset Management subindustry, IGM Financial's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % 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.

IGM Financial's Effective Interest Rate on Debt % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, IGM Financial's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where IGM Financial's Effective Interest Rate on Debt % falls into.

IGM Financial Effective Interest Rate on Debt % Calculation

IGM Financial's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -91.854	/	( (5081.51	+	5409.785)	/ 2 )
=	-1 * -91.854	/	5245.6475
=	1.75 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3498.433	+	1583.077
=	5081.51

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3696.578	+	1713.207
=	5409.785

IGM Financial's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Sep. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -97.008	/	( (5762.811	+	5409.785)	/ 2 )
=	-1 * -97.008	/	5586.298
=	1.74 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	4081.096	+	1681.715
=	5762.811

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3696.578	+	1713.207
=	5409.785

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

IGM Financial (OTCPK:IGIFF) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

IGM Financial Effective Interest Rate on Debt % Related Terms

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IGM Financial (IGM Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » IGM Financial Inc (OTCPK:IGIFF) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

C7G:Germany IGM:Canada

Address

447 Portage Avenue, Winnipeg, MB, CAN, R3B 3H5

Website

https://www.igmfinancial.com

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, and Canada Life. IGM has two main operating divisions—asset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management subsidiary)—that provide investment management products and services. IGM had CAD 215.3 billion in assets under management, or AUM, and CAD 35.0 billion in assets under advisement, or AUA, at the end of October 2023. Investment Planning Counsel is now being accounted for as a discontinued operation, having been sold earlier this year, with the deal closed in November 2023.

IGM Financial (IGM Financial) Headlines

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