Toromont Industries (Toromont Industries) Effective Interest Rate on Debt % : 4.26% (As of Dec. 2023)

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What is Toromont 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. Toromont Industries's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $21 Mil. Toromont Industries's average total debt for the quarter that ended in Dec. 2023 was $499 Mil. Therefore, Toromont Industries's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 4.26%.

Toromont Industries Effective Interest Rate on Debt % Historical Data

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

Toromont Industries Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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4.26

4.57

4.24

3.99

4.23

Toromont 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															4.05	4.14	4.27	4.17	4.26

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

For the Industrial Distribution subindustry, Toromont 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.

Toromont Industries's Effective Interest Rate on Debt % Distribution in the Industrial Distribution Industry

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

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

Toromont Industries Effective Interest Rate on Debt % Calculation

Toromont 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 * -20.944	/	( (488.2	+	501.537)	/ 2 )
=	-1 * -20.944	/	494.8685
=	4.23 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	488.2	+	0
=	488.2

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	501.537	+	0
=	501.537

Toromont 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 * -21.236	/	( (496.442	+	501.537)	/ 2 )
=	-1 * -21.236	/	498.9895
=	4.26 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	496.442	+	0
=	496.442

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	501.537	+	0
=	501.537

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.

Toromont Industries (OTCPK:TMTNF) Effective Interest Rate on Debt % Explanation

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

Toromont Industries Effective Interest Rate on Debt % Related Terms

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Toromont Industries (Toromont Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Distribution » Toromont Industries Ltd (OTCPK:TMTNF) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

14T:Germany TIH:Canada

Address

3131 Highway 7 West, P.O. Box 5511, Concord, ON, CAN, L4K 1B7

Website

https://www.toromont.com

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates majorly in Canada and derives a smaller portion of sales from the United States of America.