NEXE Innovations (NEXE Innovations) Effective Interest Rate on Debt % : 21.97% (As of Feb. 2024)

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What is NEXE Innovations 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. NEXE Innovations's annualized positive value of Interest Expense for the quarter that ended in Feb. 2024 was $0.13 Mil. NEXE Innovations's average total debt for the quarter that ended in Feb. 2024 was $0.58 Mil. Therefore, NEXE Innovations's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2024 was 21.97%.

NEXE Innovations Effective Interest Rate on Debt % Historical Data

The historical data trend for NEXE Innovations'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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NEXE Innovations Effective Interest Rate on Debt % Chart

NEXE Innovations Annual Data

Trend

May20

May21

May22

May23

Effective Interest Rate on Debt %

13.18

14.23

13.01

18.04

NEXE Innovations Quarterly Data
	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial													16.51	19.22	21.62	21.17	21.97

Competitive Comparison of NEXE Innovations's Effective Interest Rate on Debt %

For the Packaging & Containers subindustry, NEXE Innovations'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.

NEXE Innovations's Effective Interest Rate on Debt % Distribution in the Packaging & Containers Industry

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

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

NEXE Innovations Effective Interest Rate on Debt % Calculation

NEXE Innovations'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 * -0.19	/	( (1.377	+	0.729)	/ 2 )
=	-1 * -0.19	/	1.053
=	18.04 %

where

	Total Debt (A: May. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	1.063	+	0.314
=	1.377

	Total Debt (A: May. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.493	+	0.236
=	0.729

NEXE Innovations's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Nov. 2023 )	+	Total Debt (Q: Feb. 2024 ))	/ count )
=	-1 * -0.128	/	( (0.608	+	0.557)	/ 2 )
=	-1 * -0.128	/	0.5825
=	21.97 %

where

	Total Debt (Q: Nov. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.349	+	0.259
=	0.608

	Total Debt (Q: Feb. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.28	+	0.277
=	0.557

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

NEXE Innovations (OTCPK:NEXNF) Effective Interest Rate on Debt % Explanation

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

NEXE Innovations Effective Interest Rate on Debt % Related Terms

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NEXE Innovations (NEXE Innovations) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » NEXE Innovations Inc (OTCPK:NEXNF) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

NX5:Germany NEXE:Canada

Address

19355 22nd Avenue, Suite 109, Surrey, BC, CAN, V3Z3S6

Website

https://www.nexeinnovations.com

NEXE Innovations Inc is a plant-based compostable technology and materials manufacturing based in British Columbia, Canada. The Company has developed patented, fully compostable, plant-based, single-serve coffee pods for use in single-serve coffee machines. The NEXE Pod is fully compostable, single-use pod will offer the market an environmentally friendly alternative to the over billions of plastic and aluminum pod market.