Nexteer Automotive Group (Nexteer Automotive Group) Effective Interest Rate on Debt % : 0.54% (As of Dec. 2023)

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What is Nexteer Automotive Group 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. Nexteer Automotive Group's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $1 Mil. Nexteer Automotive Group's average total debt for the quarter that ended in Dec. 2023 was $103 Mil. Therefore, Nexteer Automotive Group's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 0.54%.

Nexteer Automotive Group Effective Interest Rate on Debt % Historical Data

The historical data trend for Nexteer Automotive Group'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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Nexteer Automotive Group Effective Interest Rate on Debt % Chart

Nexteer Automotive Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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2.92

1.73

1.47

1.25

1.28

Nexteer Automotive Group Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															3.75	0.82	1.40	1.99	0.54

Competitive Comparison of Nexteer Automotive Group's Effective Interest Rate on Debt %

For the Auto Parts subindustry, Nexteer Automotive Group'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.

Nexteer Automotive Group's Effective Interest Rate on Debt % Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Nexteer Automotive Group's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Nexteer Automotive Group's Effective Interest Rate on Debt % falls into.

Nexteer Automotive Group Effective Interest Rate on Debt % Calculation

Nexteer Automotive Group'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 * -1.354	/	( (110.709	+	100.395)	/ 2 )
=	-1 * -1.354	/	105.552
=	1.28 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	98.214	+	12.495
=	110.709

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	72.085	+	28.31
=	100.395

Nexteer Automotive Group'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: Jun. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -0.558	/	( (105.475	+	100.395)	/ 2 )
=	-1 * -0.558	/	102.935
=	0.54 %

where

	Total Debt (Q: Jun. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	91.034	+	14.441
=	105.475

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	72.085	+	28.31
=	100.395

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

Nexteer Automotive Group (OTCPK:NTXVF) Effective Interest Rate on Debt % Explanation

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

Nexteer Automotive Group Effective Interest Rate on Debt % Related Terms

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Nexteer Automotive Group (Nexteer Automotive Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Nexteer Automotive Group Ltd (OTCPK:NTXVF) » Definitions » Effective Interest Rate on Debt %

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01316:Hong Kong

Address

1272 Doris Road, Auburn Hills, MI, USA, 48326

Website

https://www.nexteer.com

Nexteer Automotive Group Ltd offers advanced steering and driveline systems. The company's customers are well-known automakers like BMW, Fiat Chrysler, Ford, GM, and Toyota, as well as automakers in India, South America, and China. The business units are electric power steering, hydraulic power steering, steering columns, driveline, and half shafts. The electric power steering includes columns, an intermediate shaft, and steering gear, EPS motors, sensors, controllers, and assist mechanisms. The Group classifies its businesses into three reportable segments: North America, Asia Pacific, and Europe, Middle East, Africa and South America (EMEASA). All of the Group's operating segments typically offer the same steering and driveline products, the majority are derived from North America.