Toyo Tire (Toyo Tire) Effective Interest Rate on Debt % : 1.17% (As of Mar. 2024)

View and export this data going back to 2013. Start your Free Trial

What is Toyo Tire 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. Toyo Tire's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $7 Mil. Toyo Tire's average total debt for the quarter that ended in Mar. 2024 was $584 Mil. Therefore, Toyo Tire's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 1.17%.

Toyo Tire Effective Interest Rate on Debt % Historical Data

The historical data trend for Toyo Tire'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.

Toyo Tire Effective Interest Rate on Debt % Chart

Toyo Tire Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

Get a 7-Day Free Trial

1.82

1.60

1.19

0.92

0.97

Toyo Tire 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															0.79	0.81	0.84	1.12	1.17

Competitive Comparison of Toyo Tire's Effective Interest Rate on Debt %

For the Auto Parts subindustry, Toyo Tire'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.

Toyo Tire's Effective Interest Rate on Debt % Distribution in the Vehicles & Parts Industry

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

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

Toyo Tire Effective Interest Rate on Debt % Calculation

Toyo Tire'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 * -7.418	/	( (957.241	+	573.997)	/ 2 )
=	-1 * -7.418	/	765.619
=	0.97 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	454.85	+	502.391
=	957.241

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	493.063	+	80.934
=	573.997

Toyo Tire'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 * -6.86	/	( (573.997	+	594.679)	/ 2 )
=	-1 * -6.86	/	584.338
=	1.17 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	493.063	+	80.934
=	573.997

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	472.458	+	122.221
=	594.679

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.

Toyo Tire (OTCPK:TOTTF) Effective Interest Rate on Debt % Explanation

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

Toyo Tire Effective Interest Rate on Debt % Related Terms

Thank you for viewing the detailed overview of Toyo Tire's Effective Interest Rate on Debt % provided by GuruFocus.com. Please click on the following links to see related term pages.

Toyo Tire (Toyo Tire) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Toyo Tire Corp (OTCPK:TOTTF) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

5105:Japan

Address

2-2-13 Fujinoki, Hyogo, Itami, JPN, 664-0847

Website

https://www.toyotires.co.jp

Toyo Tire Corp manufactures and sells tires, rubber tubes, industrial rubber, polyurethane products, and automotive parts. The majority of the company's revenue is amassed through Japanese and North American sales. Toyo Tire & Rubber's tires are developed through micro-level research and analysis. Optimal tire performance is gained through proprietary nano-level blending techniques that provide uniform polymer dispersion. Additional enhancements are gained through driving simulation and propriety T mode simulation. Simulation testing methods enable the company to monitor tire behavior and construction under various situations.

Toyo Tire (Toyo Tire) Headlines

No Headlines