Myers Industries (Myers Industries) Effective Interest Rate on Debt % : 5.71% (As of Dec. 2023)

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What is Myers Industries 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. Myers Industries's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $5.5 Mil. Myers Industries's average total debt for the quarter that ended in Dec. 2023 was $96.2 Mil. Therefore, Myers Industries's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 5.71%.

Myers Industries Effective Interest Rate on Debt % Historical Data

The historical data trend for Myers Industries'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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Myers Industries Effective Interest Rate on Debt % Chart

Myers Industries Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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4.51

4.94

3.73

4.37

5.57

Myers Industries 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															4.91	5.09	5.91	5.79	5.71

Competitive Comparison of Myers Industries's Effective Interest Rate on Debt %

For the Packaging & Containers subindustry, Myers Industries'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.

Myers Industries's Effective Interest Rate on Debt % Distribution in the Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Myers Industries's Effective Interest Rate on Debt % distribution charts can be found below:

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

Myers Industries Effective Interest Rate on Debt % Calculation

Myers Industries'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 * -6.349	/	( (132.362	+	95.49)	/ 2 )
=	-1 * -6.349	/	113.926
=	5.57 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	125.667	+	6.695
=	132.362

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	62.956	+	32.534
=	95.49

Myers Industries'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 * -5.496	/	( (96.955	+	95.49)	/ 2 )
=	-1 * -5.496	/	96.2225
=	5.71 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	64.776	+	32.179
=	96.955

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	62.956	+	32.534
=	95.49

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.

Myers Industries (NYSE:MYE) Effective Interest Rate on Debt % Explanation

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

Myers Industries Effective Interest Rate on Debt % Related Terms

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Myers Industries (Myers Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » Myers Industries Inc (NYSE:MYE) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

PACK TRS KRT VKSC YHGJ MGIH DSS OCTO AMBP OI BALL AVY PKG AMCR IP WRK DUB:SK3 CCK TSX:CCL.A GPK

Traded in Other Exchanges

MJF:Germany

Address

1293 South Main Street, Akron, OH, USA, 44301

Website

https://www.myersindustries.com

Myers Industries Inc is a plastic manufacturer of returnable packaging, storage and safety products and specialty molding. It manufactures a range of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. It operates through the following segments: The Material Handling segment, which designs manufactures and markets a variety of plastic and metal products. The Distribution segment offers tools, equipment, and supplies used for tire, wheel, and under-vehicle service on passenger, heavy truck, and off-road vehicles.

Executives

Yvette Dapremont Bright	director	739 WESTVIEW STREET, PHILADELPHIA PA 19119
Michael P. Mcgaugh	director, officer: President and CEO	1293 SOUTH MAIN STREET, AKRON OH 44301
Fitz E Grant	officer: EVP & CFO	C/O BLINK CHARGING CO., 407 LINCOLN ROAD, SUITE 704, MIAMI BEACH FL 33139
Lori A. Lutey	director	3101 PACKERLAND DRIVE, GREEN BAY WI 54313
Jeffrey Kramer	director	C/O SCHWEITZER-MAUDUIT INTERNT'L, INC., SUITE 600, ALPHARETTA GA 30022
Liebau Frederic Jack Jr	director	P.O. BOX 2200, PASADENA CA 91102-2200
William A Foley	director	P O BOX 10060, TOLEDO OH 436990060
Monica P. Vinay	officer: Interim CFO, VP and Treasurer	1293 SOUTH MAIN STREET, AKRON OH 44301
Bruce M Lisman	director	C/O MERCHANTS BANK, 275 KENNEDY DR, S. BURLINGTON VT 05403
Ronald M Defeo	director	600 GRANT STREET, SUITE 5100, PITTSBURGH PA 15219
Jim Gurnee	officer: VP Sales/Marketing/Commercial	1293 S MAIN ST, AKRON OH 44301
Paul Allan Johnson	officer: VP, Distribution Segment	1293 SOUTH MAIN STREET, AKRON OH 44301
Jeffrey Jon Baker	officer: VP, Shared Services	1293 SOUTH MAIN STREET, AKRON OH 44301
Sarah R Coffin	director	31515 BALLANTYNE CORP, C/O SPX CORP, CHARLOTTE NC 28277
Sonal P. Robinson	officer: EVP, Finance	1293 SOUTH MAIN STREET, AKRON OH 44301