Clip Money (TSXV:CLIP) Effective Interest Rate on Debt % : 14.75% (As of Sep. 2024)

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What is Clip Money 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. Clip Money's annualized positive value of Interest Expense for the quarter that ended in Sep. 2024 was C$2.73 Mil. Clip Money's average total debt for the quarter that ended in Sep. 2024 was C$18.53 Mil. Therefore, Clip Money's annualized Effective Interest Rate on Debt % for the quarter that ended in Sep. 2024 was 14.75%.

Clip Money Effective Interest Rate on Debt % Historical Data

The historical data trend for Clip Money'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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Clip Money Effective Interest Rate on Debt % Chart

Clip Money Annual Data

Trend

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

4.68

14.45

14.28

Clip Money Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial									15.80	17.04	16.63	16.51	14.75

Competitive Comparison of Clip Money's Effective Interest Rate on Debt %

For the Software - Infrastructure subindustry, Clip Money'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.

Clip Money's Effective Interest Rate on Debt % Distribution in the Software Industry

For the Software industry and Technology sector, Clip Money's Effective Interest Rate on Debt % distribution charts can be found below:

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

Clip Money Effective Interest Rate on Debt % Calculation

Clip Money'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 * -1.735	/	( (8.463	+	15.844)	/ 2 )
=	-1 * -1.735	/	12.1535
=	14.28 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	6.985	+	1.478
=	8.463

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	14.174	+	1.67
=	15.844

Clip Money's annualized Effective Interest Rate on Debt % for the quarter that ended in Sep. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Jun. 2024 )	+	Total Debt (Q: Sep. 2024 ))	/ count )
=	-1 * -2.732	/	( (16.22	+	20.832)	/ 2 )
=	-1 * -2.732	/	18.526
=	14.75 %

where

	Total Debt (Q: Jun. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	14.441	+	1.779
=	16.22

	Total Debt (Q: Sep. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	18.94	+	1.892
=	20.832

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

Clip Money (TSXV:CLIP) Effective Interest Rate on Debt % Explanation

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

Clip Money Effective Interest Rate on Debt % Related Terms

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Clip Money Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Clip Money Inc (TSXV:CLIP) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

CLPMF:USA

Address

96 Riverdale Avenue, Ottawa, ON, CAN, K1S 1R2

Website

https://www.clipmoney.com

Clip Money Inc is a Canadian-based principally in the business of providing a proprietary deposit network to businesses and financial institutions located across North America. network of ClipDrop safes located in malls, box stores, and grocery chains, Clip improves the business deposit experience through transformational digital and mobile-enabled services. The Company has one operating segment, which is providing a proprietary deposit network to businesses located across North America. The company combines functional hardware, an intuitive mobile app, and an innovative cloud-based transaction engine that maximizes business banking transactions. Clip also facilitates mobile change orders, which are fully insured and shipped within one to two business days.

Executives

Andrew Tussing	Senior Officer
Daren Trousdell	10% Security Holder
Koat Holdings Llc	10% Security Holder