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United Fire Group (United Fire Group) Effective Interest Rate on Debt % : 6.95% (As of Dec. 2023)


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What is United Fire Group 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. United Fire Group's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $3 Mil. United Fire Group's average total debt for the quarter that ended in Dec. 2023 was $50 Mil. Therefore, United Fire Group's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 6.95%.

United Fire Group Effective Interest Rate on Debt % Historical Data

The historical data trend for United Fire Group'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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United Fire Group Effective Interest Rate on Debt % Chart

United Fire Group Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only - 115.11 6.37 6.38 6.52

United Fire Group 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 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 6.38 6.38 6.38 6.38 6.95

Competitive Comparison of United Fire Group's Effective Interest Rate on Debt %

For the Insurance - Property & Casualty subindustry, United Fire Group'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.

United Fire Group's Effective Interest Rate on Debt % Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, United Fire Group's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where United Fire Group's Effective Interest Rate on Debt % falls into.


United Fire Group Effective Interest Rate on Debt % Calculation

United Fire Group'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  *  -3.26/( (50+50)/ 2 )
=-1  *  -3.26/50
=6.52 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=50 + 0
=50

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=50 + 0
=50

United Fire Group'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  *  -3.476/( (50+50)/ 2 )
=-1  *  -3.476/50
=6.95 %

where

Total Debt  (Q: Sep. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=50 + 0
=50

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=50 + 0
=50

* 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.

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.

United Fire Group  (NAS:UFCS) Effective Interest Rate on Debt % Explanation

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

United Fire Group Effective Interest Rate on Debt % Related Terms

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United Fire Group (United Fire Group) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » United Fire Group Inc (NAS:UFCS) » Definitions » Effective Interest Rate on Debt %
Comparable Companies
ACIC UVE DGICA PRA GBLI HGTY HRTG NODK ROOT DOMA PGR CB TSE:8766 TRV ALL HIG HKSE:02328 TSX:IFC TSE:8725 HKSE:01339
Traded in Other Exchanges
N/A
Address
118 Second Avenue SE, Cedar Rapids, IA, USA, 52401
Website
https://www.ufginsurance.com
United Fire Group Inc is engaged in the business of writing property and casualty insurance and selling annuities through a network of independent agencies. The company's only operating segment is property and casualty insurance, which includes commercial lines insurance, personal lines insurance, and assumed reinsurance. The primary source of revenue is premiums and investment income.
Executives
Robert Francis Cataldo officer: VP & Strategy Officer 118 SECOND AVENUE SE, CEDAR RAPIDS IA 52401
Micah G Woolstenhulme officer: VP 118 2ND AVE SE, CEDAR RAPIDS IA 52401
George D Milligan director 118 2ND AVE SE, CEDAR RAPIDS IA 52401
Christopher R Drahozal director 2001 RIVIERA COURT, LAWRENCE KS 66047-1999
Julie A Stephenson officer: Executive VP & COO 118 2ND AVE SE, CEDAR RAPIDS IA 52401
Eric J Martin officer: Chief Financial Officer 118 SECOND AVE SE, CEDAR RAPIDS IA 52407
Mark A. Green director 200 EAST RANDOLPH STREET, SUITE 3300, CHICAGO IL 60601
Kevin James Leidwinger director, officer: Director, CEO 151 N. FRANKLIN, CHICAGO IL 60606
Sarah E Madsen officer: Chief Legal Officer 118 SECOND AVE SE, CEDAR RAPIDS IA 52401
Jeremy Bahl officer: VP & Chief UW Officer 118 SECOND AVE SE, CEDAR RAPIDS IA 52401
Kyle D. Skogman director 411 FIRST AVENUE SE, CEDAR RAPIDS IA 52401
Lura E Mcbride director 118 2ND AVE SE, CEDAR RAPIDS IA 52401
Mary K. Quass director 2875 MT. VERNON RD SE, CEDAR RAPIDS IA 52403
James Noyce director 5400 UNIVERSITY AVENUE, WEST DES MOINES IA 50266
Matthew R Foran director 118 2ND AVE SE, CEDAR RAPIDS IA 52401