Axis Auto Finance (TSX:AXIS) Effective Interest Rate on Debt % : 0.00% (As of Mar. 2024)

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What is Axis Auto Finance 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. Axis Auto Finance's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was C$0.00 Mil. Axis Auto Finance's average total debt for the quarter that ended in Mar. 2024 was C$184.97 Mil. Therefore, Axis Auto Finance's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 0.00%.

Axis Auto Finance Effective Interest Rate on Debt % Historical Data

The historical data trend for Axis Auto Finance'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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Axis Auto Finance Effective Interest Rate on Debt % Chart

Axis Auto Finance Annual Data

Trend

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Effective Interest Rate on Debt %

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Axis Auto Finance Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
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Competitive Comparison of Axis Auto Finance's Effective Interest Rate on Debt %

For the Credit Services subindustry, Axis Auto Finance'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.

Axis Auto Finance's Effective Interest Rate on Debt % Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, Axis Auto Finance's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Axis Auto Finance's Effective Interest Rate on Debt % falls into.

Axis Auto Finance Effective Interest Rate on Debt % Calculation

Axis Auto Finance's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Jun. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Jun. 2022 )	+	Total Debt (A: Jun. 2023 ))	/ count )
=	-1 * 0	/	( (131.486	+	185.62)	/ 2 )
=	-1 * 0	/	158.553
=	0.00 %

where

	Total Debt (A: Jun. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	19.692	+	111.794
=	131.486

	Total Debt (A: Jun. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	17.945	+	167.675
=	185.62

Axis Auto Finance'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 * 0	/	( (190.043	+	179.9)	/ 2 )
=	-1 * 0	/	184.9715
=	0.00 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	18.193	+	171.85
=	190.043

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	18.452	+	161.448
=	179.9

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.

Axis Auto Finance (TSX:AXIS) Effective Interest Rate on Debt % Explanation

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

Axis Auto Finance Effective Interest Rate on Debt % Related Terms

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Axis Auto Finance (TSX:AXIS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Axis Auto Finance Inc (TSX:AXIS) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

165 Galaxy Boulevard, 2nd Floor, Etobicoke, ON, CAN, M9W 0C8

Website

https://www.axisautofinance.com

Axis Auto Finance Inc is a fintech company that is changing the way used vehicles are purchased and financed in Canada. The company's direct-to-consumer website, DriveAxis.ca, enables users to choose their next used vehicle, customize financing terms, and get the car delivered to homes. In addition, the company continues to grow business-to-business non-prime auto loan originations by delivering innovative technology solutions and superior service to its dealer partners.

Executives

Todd Charles Hudson

Senior Officer

Axis Auto Finance (TSX:AXIS) Headlines

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