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New Horizon Aircraft (New Horizon Aircraft) Effective Interest Rate on Debt % : 4.63% (As of May. 2023)


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What is New Horizon Aircraft 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. New Horizon Aircraft's annualized positive value of Interest Expense for the quarter that ended in May. 2023 was $0.06 Mil. New Horizon Aircraft's average total debt for the quarter that ended in May. 2023 was $1.47 Mil. Therefore, New Horizon Aircraft's annualized Effective Interest Rate on Debt % for the quarter that ended in May. 2023 was 3.74%.

New Horizon Aircraft Effective Interest Rate on Debt % Historical Data

The historical data trend for New Horizon Aircraft'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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New Horizon Aircraft Effective Interest Rate on Debt % Chart

New Horizon Aircraft Annual Data
Trend May22 May23
Effective Interest Rate on Debt %
0.11 3.74

New Horizon Aircraft Semi-Annual Data
May22 May23
Effective Interest Rate on Debt % 0.11 4.63

Competitive Comparison of New Horizon Aircraft's Effective Interest Rate on Debt %

For the Aerospace & Defense subindustry, New Horizon Aircraft'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.

New Horizon Aircraft's Effective Interest Rate on Debt % Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, New Horizon Aircraft's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where New Horizon Aircraft's Effective Interest Rate on Debt % falls into.


New Horizon Aircraft Effective Interest Rate on Debt % Calculation

New Horizon Aircraft's annualized Effective Interest Rate on Debt % for the fiscal year that ended in May. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: May. 2022 )+Total Debt  (A: May. 2023 ))/ count )
=-1  *  -0.055/( (1.754+1.187)/ 2 )
=-1  *  -0.055/1.4705
=3.74 %

where

Total Debt  (A: May. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1.639 + 0.115
=1.754

Total Debt  (A: May. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.249 + 0.938
=1.187

New Horizon Aircraft's annualized Effective Interest Rate on Debt % for the quarter that ended in May. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: May. 2022 )+Total Debt  (Q: May. 2023 ))/ count )
=-1  *  -0.055/( (1.754+1.187)/ 2 )
=-1  *  -0.055/1.4705
=3.74 %

where

Total Debt  (Q: May. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1.639 + 0.115
=1.754

Total Debt  (Q: May. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.249 + 0.938
=1.187

* 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 one times the annual (May. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

New Horizon Aircraft  (NAS:HOVR) Effective Interest Rate on Debt % Explanation

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

New Horizon Aircraft Effective Interest Rate on Debt % Related Terms

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New Horizon Aircraft (New Horizon Aircraft) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » New Horizon Aircraft Ltd (NAS:HOVR) » Definitions » Effective Interest Rate on Debt %
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Traded in Other Exchanges
N/A
Address
3187 Highway 35, Lindsay, ON, CAN, K9V 4R1
Website
New Horizon Aircraft Ltd is an advanced aerospace Original Equipment Manufacturer that is designing and aiming to build a next-generation hybrid electric vertical take-off and landing aircraft for the regional air mobility market. Its unique aircraft will offer a more efficient way to move people and goods at a regional scale, help to connect remote communities and advance its ability to deal with an increasing number of climate-related natural disasters such as wildfires, Floods and droughts. The company aims to deliver a hybrid electric 7-seat aircraft, called the Cavorite X7, that can take off and land vertically like and helicopter.

New Horizon Aircraft (New Horizon Aircraft) Headlines

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