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Sonic Automotive (Sonic Automotive) Effective Interest Rate on Debt % : 4.93% (As of Mar. 2024)


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What is Sonic Automotive 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. Sonic Automotive's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $191 Mil. Sonic Automotive's average total debt for the quarter that ended in Mar. 2024 was $3,873 Mil. Therefore, Sonic Automotive's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 4.93%.


Sonic Automotive Effective Interest Rate on Debt % Historical Data

The historical data trend for Sonic Automotive'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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Sonic Automotive Effective Interest Rate on Debt % Chart

Sonic Automotive 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 3.97 2.61 2.08 3.48 4.75

Sonic Automotive 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 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 4.63 4.84 4.97 4.86 4.93

Competitive Comparison of Sonic Automotive's Effective Interest Rate on Debt %

For the Auto & Truck Dealerships subindustry, Sonic Automotive'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.


Sonic Automotive's Effective Interest Rate on Debt % Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Sonic Automotive's Effective Interest Rate on Debt % distribution charts can be found below:

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



Sonic Automotive Effective Interest Rate on Debt % Calculation

Sonic Automotive'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  *  -174.4/( (3486.8+3863.1)/ 2 )
=-1  *  -174.4/3674.95
=4.75 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2132.2 + 1354.6
=3486.8

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2090.2 + 1772.9
=3863.1

Sonic Automotive'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  *  -190.8/( (3863.1+3882)/ 2 )
=-1  *  -190.8/3872.55
=4.93 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2090.2 + 1772.9
=3863.1

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2114.6 + 1767.4
=3882

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


Sonic Automotive  (NYSE:SAH) Effective Interest Rate on Debt % Explanation

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


Sonic Automotive Effective Interest Rate on Debt % Related Terms

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Sonic Automotive (Sonic Automotive) Business Description

Traded in Other Exchanges
Address
4401 Colwick Road, Charlotte, NC, USA, 28211
Sonic Automotive is one of the largest auto dealership groups in the United States. The company has 108 franchised stores in 18 states, primarily in metropolitan areas in California, Texas, and the Southeast, plus 18 EchoPark and 7 Northwest Motorsports used-vehicle stores, and 16 collision centers. The company derives revenue from new and used vehicles plus parts and collision repair, finance, insurance, and wholesale auctions. Luxury and import dealerships make up about 83% of franchise new-vehicle revenue, while Honda, BMW, Mercedes, and Toyota constitute about 56% of new-vehicle revenue. BMW is the largest brand at about 26%. 2022's revenue was $14 billion, with EchoPark's portion totaling $2.5 billion. Sonic bought RFJ Auto in December 2021, which added $3.2 billion in sales.
Executives
Heath Byrd officer: EVP and CFO 4401 COLWICK ROAD, CHARLOTTE NC 28211
Jeff Dyke officer: EVP of Operations C/O SONIC AUTOMOTIVE, INC., 6415 IDLEWILD ROAD, SUITE 109, CHARLOTTE NC 28212
David Bruton Smith director, officer: Executive Vice President C/O SONIC AUTOMOTIVE, INC., 6415 IDLEWILD ROAD, SUITE 109, CHARLOTTE NC 28212
Paul P. Rusnak 10 percent owner 325 W. COLORADO BLVD.,, PO BOX 70489, PASADENA CA 91117-7489
Michael Edward Hodge director 4401 COLWICK ROAD, CHARLOTTE NC 28211
Keri A Kaiser director 14902 PRESTON ROAD, SUITE 404, #384, DALLAS TX 75254
Victor H Doolan director 35 VIA MONARCA, DANA POINT CA 92629
Marcus G Smith 10 percent owner 5555 CONCORD PARKWAY SOUTH, CONCORD NC 28027
Sonic Financial Corp 10 percent owner 5401 E INDEPENDENCE BLVD, CHARLOTTE NC 28212
O Bruton Smith director, 10 percent owner, officer: Chairman and CEO 5401 E INDEPENDENCE BLVD, CHARLOTTE NC 28212
R Eugene Taylor director BANK OF AMERICA CORP, 100 NORTH TRYON ST NC1-007-57-01, CHARLOTTE NC 28255
Bryan Scott Smith director, officer: Vice Chairman and CSO 5401 E INDEPENDENCE BLVD, CHARLOTTE NC 28212
Harris John W. Iii director 4725 PIEDMONT ROW DRIVE, SUITE 800, CHARLOTTE NC 28210
Byrd Bernard Clinton Jr director 4401 COLWICK ROAD, CHARLOTTE NC 28211
William I Belk director 6100 FAIRVIEW RD #640, CHARLOTTE NC 28210