MJ Harvest (MJ Harvest) Effective Interest Rate on Debt % : 51.28% (As of Feb. 2023)

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What is MJ Harvest 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. MJ Harvest's annualized positive value of Interest Expense for the quarter that ended in Feb. 2023 was $3.79 Mil. MJ Harvest's average total debt for the quarter that ended in Feb. 2023 was $7.39 Mil. Therefore, MJ Harvest's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2023 was 51.28%.

MJ Harvest Effective Interest Rate on Debt % Historical Data

The historical data trend for MJ Harvest'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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MJ Harvest Effective Interest Rate on Debt % Chart

MJ Harvest Annual Data

Trend

May19

May20

May21

May22

Effective Interest Rate on Debt %

108.00

207.19

MJ Harvest Quarterly Data
	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial													15.11	81.17	78.43	54.77	51.28

Competitive Comparison of MJ Harvest's Effective Interest Rate on Debt %

For the Industrial Distribution subindustry, MJ Harvest'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.

MJ Harvest's Effective Interest Rate on Debt % Distribution in the Industrial Distribution Industry

For the Industrial Distribution industry and Industrials sector, MJ Harvest's Effective Interest Rate on Debt % distribution charts can be found below:

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

MJ Harvest Effective Interest Rate on Debt % Calculation

MJ Harvest's annualized Effective Interest Rate on Debt % for the fiscal year that ended in May. 2022 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: May. 2021 )	+	Total Debt (A: May. 2022 ))	/ count )
=	-1 * -0.778	/	( (0.35	+	0.401)	/ 2 )
=	-1 * -0.778	/	0.3755
=	207.19 %

where

	Total Debt (A: May. 2021 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0.35
=	0.35

	Total Debt (A: May. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.247	+	0.154
=	0.401

MJ Harvest's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Nov. 2022 )	+	Total Debt (Q: Feb. 2023 ))	/ count )
=	-1 * -3.788	/	( (6.89	+	7.884)	/ 2 )
=	-1 * -3.788	/	7.387
=	51.28 %

where

	Total Debt (Q: Nov. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3.293	+	3.597
=	6.89

	Total Debt (Q: Feb. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3.008	+	4.876
=	7.884

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 (Feb. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

MJ Harvest (OTCPK:MJHI) Effective Interest Rate on Debt % Explanation

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

MJ Harvest Effective Interest Rate on Debt % Related Terms

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MJ Harvest (MJ Harvest) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Distribution » MJ Harvest Inc (OTCPK:MJHI) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

9205 West Russell Road, Suite 240, Las Vegas, NV, USA, 89139

Website

https://www.mjharvestinc.com

MJ Harvest Inc cultivates, harvests, manufactures, and sells cannabis products. It also acquires and markets products and technologies that are designed to benefit growers and processors in the horticultural and agricultural industries.

Executives

David Tobias	director	PO BOX 1602, MESQUITE NV 89024
Jerry Cornwell	director, 10 percent owner	14424 SE 78TH WAY, NEW CASTLE WA 98059
Brad E Herr	officer: CFO	5413 S SAYBROOK LANE, SPOKANE WA 99223
Patrick Bilton	director, 10 percent owner, officer: Chief Executive Officer	9205 W RUSSELL ROAD, SUITE 240, LAS VEGAS NV 89139