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Hitek Global (Hitek Global) Effective Interest Rate on Debt % : 11.92% (As of Dec. 2023)


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What is Hitek Global 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. Hitek Global's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $0.31 Mil. Hitek Global's average total debt for the quarter that ended in Dec. 2023 was $2.58 Mil. Therefore, Hitek Global's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 11.92%.

Hitek Global Effective Interest Rate on Debt % Historical Data

The historical data trend for Hitek Global'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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Hitek Global Effective Interest Rate on Debt % Chart

Hitek Global Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial - - - 10.62 11.86

Hitek Global Semi-Annual Data
Dec17 Jun18 Dec18 Jun19 Dec19 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 8.23 11.50 12.21 11.92

Competitive Comparison of Hitek Global's Effective Interest Rate on Debt %

For the Software - Application subindustry, Hitek Global'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.

Hitek Global's Effective Interest Rate on Debt % Distribution in the Software Industry

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

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


Hitek Global Effective Interest Rate on Debt % Calculation

Hitek Global'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  *  -0.314/( (2.684+2.61)/ 2 )
=-1  *  -0.314/2.647
=11.86 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2.174 + 0.51
=2.684

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2.114 + 0.496
=2.61

Hitek Global'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  *  -0.308/( (2.556+2.61)/ 2 )
=-1  *  -0.308/2.583
=11.92 %

where

Total Debt  (Q: Jun. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.002 + 2.554
=2.556

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2.114 + 0.496
=2.61

* 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.

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.

Hitek Global  (NAS:HKIT) Effective Interest Rate on Debt % Explanation

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

Hitek Global Effective Interest Rate on Debt % Related Terms

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Hitek Global (Hitek Global) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Technology » Software » Hitek Global Inc (NAS:HKIT) » Definitions » Effective Interest Rate on Debt %
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Traded in Other Exchanges
4JX:Germany
Address
No. 30 Guanri Road, Siming District, Unit 304, Fujian Province, Phase II, Software Park, Xiamen, CHN
Website
http://www.xmhitek.com
Hitek Global Inc is a provider of information technology consulting and solutions services. The company has two lines of businesses such as services to small and medium businesses, which consist of Anti-Counterfeiting Tax Control System tax devices, including Golden Tax Disk and printers, ACTCS services, and IT services; and services to large businesses, which include hardware sales and software sales. It generates revenues from hardware sales, software sales, IT services, and tax devices and services.