Innovative Designs (Innovative Designs) Effective Interest Rate on Debt % : 36.78% (As of Jan. 2024)

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What is Innovative Designs 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. Innovative Designs's annualized positive value of Interest Expense for the quarter that ended in Jan. 2024 was $0.03 Mil. Innovative Designs's average total debt for the quarter that ended in Jan. 2024 was $0.09 Mil. Therefore, Innovative Designs's annualized Effective Interest Rate on Debt % for the quarter that ended in Jan. 2024 was 36.78%.

Innovative Designs Effective Interest Rate on Debt % Historical Data

The historical data trend for Innovative Designs'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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Innovative Designs Effective Interest Rate on Debt % Chart

Innovative Designs Annual Data

Trend

Oct14

Oct15

Oct16

Oct17

Oct18

Oct19

Oct20

Oct21

Oct22

Oct23

Effective Interest Rate on Debt %

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10.71

5.23

29.08

38.71

33.56

Innovative Designs Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															33.94	25.81	33.10	41.79	36.78

Competitive Comparison of Innovative Designs's Effective Interest Rate on Debt %

For the Apparel Retail subindustry, Innovative Designs'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.

Innovative Designs's Effective Interest Rate on Debt % Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Innovative Designs's Effective Interest Rate on Debt % distribution charts can be found below:

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

Innovative Designs Effective Interest Rate on Debt % Calculation

Innovative Designs's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Oct. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Oct. 2022 )	+	Total Debt (A: Oct. 2023 ))	/ count )
=	-1 * -0.025	/	( (0.085	+	0.064)	/ 2 )
=	-1 * -0.025	/	0.0745
=	33.56 %

where

	Total Debt (A: Oct. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.065	+	0.02
=	0.085

	Total Debt (A: Oct. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.044	+	0.02
=	0.064

Innovative Designs's annualized Effective Interest Rate on Debt % for the quarter that ended in Jan. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Oct. 2023 )	+	Total Debt (Q: Jan. 2024 ))	/ count )
=	-1 * -0.032	/	( (0.064	+	0.11)	/ 2 )
=	-1 * -0.032	/	0.087
=	36.78 %

where

	Total Debt (Q: Oct. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.044	+	0.02
=	0.064

	Total Debt (Q: Jan. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.039	+	0.071
=	0.11

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

Innovative Designs (OTCPK:IVDN) Effective Interest Rate on Debt % Explanation

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

Innovative Designs Effective Interest Rate on Debt % Related Terms

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Innovative Designs (Innovative Designs) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Innovative Designs Inc (OTCPK:IVDN) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

124 Cherry Street, Pittsburgh, PA, USA, 15223

Website

https://www.idigear.com

Innovative Designs Inc markets cold-weather recreational and industrial clothing products, as well as house wrap, which is made from INSULTEX, a low density foamed polyethylene with buoyancy, scent block and thermal resistant properties. The business activity of the firm is operated through two segments Apparel and Housewrap. The Apparel segment offers a range of cold weather apparel and related items. The Housewrap segment includes its INSULTEX House Wrap and its own seam tape. It generates maximum revenue from the Housewrap segment.

Executives

Robert Kennedy Adams	director	3509 WILLIAM PENN DR., SAN ANTONIO TX 78230
Donald Vincent Garlotta	director	124 CHERRY STREET, PITTSBURGH PA 15223
Joseph Riccelli	director, 10 percent owner, officer: Chief Executive Officer	223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215
Dean Kolocouris	director	109 FOX PATH, MOON TWP PA 15108
Daniel P Rains	director	2509 WIEWAN ROAD, ALIQUIPPA PA 15001
Robert D Monsour	director	223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215
Innovative Designs Inc	director	124 CHERRY ST., STE 1, PITTSBURGH PA 15223
Joseph A Riccelli	officer: Vice President	223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215
Dean P Kolocouris	director	223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215
Frank Riccelli	director, 10 percent owner, officer: President	223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215
Dominic Cerniglia	director	223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215
Anthony Fonzi	director, officer: Chief Financial Officer	223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215