Nano Magic (Nano Magic) Effective Interest Rate on Debt % : 3.85% (As of Mar. 2024)

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What is Nano Magic 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. Nano Magic's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $0.05 Mil. Nano Magic's average total debt for the quarter that ended in Mar. 2024 was $1.25 Mil. Therefore, Nano Magic's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 3.85%.

Nano Magic Effective Interest Rate on Debt % Historical Data

The historical data trend for Nano Magic'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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Nano Magic Effective Interest Rate on Debt % Chart

Nano Magic Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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1.84

0.67

1.29

2.78

3.42

Nano Magic Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															4.37	2.56	3.85	3.18	3.85

Competitive Comparison of Nano Magic's Effective Interest Rate on Debt %

For the Specialty Chemicals subindustry, Nano Magic'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.

Nano Magic's Effective Interest Rate on Debt % Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Nano Magic's Effective Interest Rate on Debt % distribution charts can be found below:

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

Nano Magic Effective Interest Rate on Debt % Calculation

Nano Magic'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 * -0.044	/	( (1.305	+	1.269)	/ 2 )
=	-1 * -0.044	/	1.287
=	3.42 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	1.097	+	0.208
=	1.305

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.961	+	0.308
=	1.269

Nano Magic's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -0.048	/	( (1.269	+	1.225)	/ 2 )
=	-1 * -0.048	/	1.247
=	3.85 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.961	+	0.308
=	1.269

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.667	+	0.558
=	1.225

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 (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Nano Magic (OTCPK:NMGX) Effective Interest Rate on Debt % Explanation

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

Nano Magic Effective Interest Rate on Debt % Related Terms

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Nano Magic (Nano Magic) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Nano Magic Inc (OTCPK:NMGX) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

31601 Research Park Drive, Madison Heights, MI, USA, 48071

Website

https://www.nanomagic.com

Nano Magic Inc is engaged in the marketing and sale of products enabled by nanotechnology. It develops and sells products based on its portfolio of intellectual property and its products include a portfolio of nano-layer coatings, nano-based cleaners, printable inks, pastes, and thermal management materials. Its products can be used on eyeglasses, extreme sport and safety glasses and goggles, electronic screens, windows, mirrors, shower doors, and cleaning everyday household surfaces.

Executives

Scott E. Rickert	director, 10 percent owner, officer: CEO, President & Chairman	431 FAIRWAY DR, SUITE 200, DEERFIELD BEACH FL 33441
Jeanne M Rickert	director, officer: Chief Legal Officer	431 FAIRWAY DR, SUITE 200, DEERFIELD BEACH FL 33441
Ronald J Berman	director	701 BRICKELL AVENUE, SUITE 1550, MIAMI FL 33131
Raymond William Gunn	director	56420 NEWPORT DRIVE, SHELBY TOWNSHIP MI 48316
David M Sherbin	director	4181 AO SOUTHMOOR LANE, WEST BLOOMFIELD MI 48323
Miles Geoffrey Gatland	director	1110 ISLAND DRIVE, COMMERCE TOWNSHIP MI 48382
Lara O'connor Hodgson	director	8 HABERSHAM PARK, ATLANTA GA 30305
Magic Growth 2 Llc	10 percent owner	31601 RESEARCH PARK DRIVE, MADISON HEIGHTS MI 48071
Magic Growth Llc	10 percent owner	750 DENISON COURT, BLOOMFIELD HILLS MI 48302
Tom J. Berman	director, officer: President	750 DENISON COURT, BLOOMFIELD HILLS MI 48302
John Todd Lunsford	director	4971 CHERRY BLOSSOM CIRCLE, WEST BLOOMFIELD MI 48324
Leandro Vera	officer: CFO	11271 N ROCKING R RD., HAYDEN ID 83835
Jacqueline M Soptick	officer: Chief Accounting Officer	3006 LONGHORN BLVD, STE 107, AUSTIN TX 78732
Pen Comeback 2, Llc	10 percent owner	750 DENISON COURT, BLOOMFIELD HILLS MI 48302
Pen Comeback, Llc	10 percent owner	750 DENISON COURT, BLOOMFIELD HILLS MI 48302