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PROG Holdings (PROG Holdings) Effective Interest Rate on Debt % : 6.37% (As of Mar. 2024)


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What is PROG Holdings 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. PROG Holdings's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $39 Mil. PROG Holdings's average total debt for the quarter that ended in Mar. 2024 was $608 Mil. Therefore, PROG Holdings's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 6.37%.


PROG Holdings Effective Interest Rate on Debt % Historical Data

The historical data trend for PROG Holdings'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.

* Premium members only.

PROG Holdings Effective Interest Rate on Debt % Chart

PROG Holdings 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 0.78 0.33 1.53 6.10 4.82

PROG Holdings 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 6.34 6.34 6.34 0.25 6.37

Competitive Comparison of PROG Holdings's Effective Interest Rate on Debt %

For the Rental & Leasing Services subindustry, PROG Holdings'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.


PROG Holdings's Effective Interest Rate on Debt % Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, PROG Holdings's Effective Interest Rate on Debt % distribution charts can be found below:

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



PROG Holdings Effective Interest Rate on Debt % Calculation

PROG Holdings'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  *  -29.406/( (612.088+608.114)/ 2 )
=-1  *  -29.406/610.101
=4.82 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=612.088 + 0
=612.088

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=608.114 + 0
=608.114

PROG Holdings'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  *  -38.704/( (608.114+607.541)/ 2 )
=-1  *  -38.704/607.8275
=6.37 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=608.114 + 0
=608.114

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=607.541 + 0
=607.541

* 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.


PROG Holdings  (NYSE:PRG) Effective Interest Rate on Debt % Explanation

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


PROG Holdings Effective Interest Rate on Debt % Related Terms

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PROG Holdings (PROG Holdings) Business Description

Industry
Traded in Other Exchanges
Address
256 West Data Drive, Draper, UT, USA, 84020-2315
PROG Holdings Inc is a financial technology holding company that provides transparent and competitive payment options to consumers. The Company has two reportable segments: (i) Progressive Leasing, an in-store, app-based, and e-commerce point-of-sale lease-to-own solutions provider; and (ii) Vive Financial (Vive), an omnichannel provider of second-look revolving credit products. The majority of the revenue of the company is earned through the progressive leasing segment.
Executives
Michael Todd King officer: Chief Legal and Compliance Off 256 WEST DATA DRIVE, DRAPER UT 84020
Thomas Eugene Vin Iv officer: General Counsel and Corp Sec 632 NORTH TARA COURT, WHICHITA KS 67206
Brian Garner officer: Chief Financial Officer 256 WEST DATA DR, DRAPER UT 84020
Curtis Linn Doman director, officer: Chief Innovation Officer-PROG 256 DATA DR, DRAPER UT 84020
Steven A Michaels director, officer: CEO 256 DATA DR, DRAPER UT 84020
Ramon Michael Martinez director 256 WEST DATA DRIVE, DRAPER UT 84020
Caroline Sio-chin Sheu director 256 WEST DATA DRIVE, DRAPER UT 84020
Douglas C Curling director 1000 ALDERMAN DRIVE, ALPHARETTA GA 30005
Ray M Robinson director 1170 PEACHTREE STREET NE, SUITE 2300, ATLANTA GA 30309
Kathy T Betty director 309 E. PACES FERRY ROAD, ATLANTA GA 30305
Cynthia N Day director 75 PIEDMONT AVE, ATLANTA GA 30303
James P. Smith director 256 WEST DATA DRIVE, DRAPER UT 84020
George M Sewell officer: Principal Acct Off, VP Fin Rep 256 WEST DATA DR, DRAPER UT 84020
Blake Wakefield officer: President, Chief Revenue Off 256 WEST DATA DR, DRAPER UT 84020
Marvin A Fentress officer: General Counsel, Corp Sec 256 WEST DATA DR, DRAPER UT 84020

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