Norris Industries (Norris Industries) Effective Interest Rate on Debt % : 3.18% (As of Feb. 2024)

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What is Norris Industries 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. Norris Industries's annualized positive value of Interest Expense for the quarter that ended in Feb. 2024 was $0.13 Mil. Norris Industries's average total debt for the quarter that ended in Feb. 2024 was $4.15 Mil. Therefore, Norris Industries's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2024 was 3.18%.

Norris Industries Effective Interest Rate on Debt % Historical Data

The historical data trend for Norris Industries'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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Norris Industries Effective Interest Rate on Debt % Chart

Norris Industries Annual Data

Trend

Feb15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

Effective Interest Rate on Debt %

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3.21

3.15

3.09

3.14

Norris Industries Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															3.01	3.18	3.20	3.12	3.18

Competitive Comparison of Norris Industries's Effective Interest Rate on Debt %

For the Oil & Gas E&P subindustry, Norris Industries'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.

Norris Industries's Effective Interest Rate on Debt % Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Norris Industries's Effective Interest Rate on Debt % distribution charts can be found below:

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

Norris Industries Effective Interest Rate on Debt % Calculation

Norris Industries's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Feb. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Feb. 2023 )	+	Total Debt (A: Feb. 2024 ))	/ count )
=	-1 * -0.127	/	( (3.9	+	4.2)	/ 2 )
=	-1 * -0.127	/	4.05
=	3.14 %

where

	Total Debt (A: Feb. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3.9	+	0
=	3.9

	Total Debt (A: Feb. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	4.2	+	0
=	4.2

Norris Industries's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Nov. 2023 )	+	Total Debt (Q: Feb. 2024 ))	/ count )
=	-1 * -0.132	/	( (4.1	+	4.2)	/ 2 )
=	-1 * -0.132	/	4.15
=	3.18 %

where

	Total Debt (Q: Nov. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	4.1	+	0
=	4.1

	Total Debt (Q: Feb. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	4.2	+	0
=	4.2

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

Norris Industries (OTCPK:NRIS) Effective Interest Rate on Debt % Explanation

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

Norris Industries Effective Interest Rate on Debt % Related Terms

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Norris Industries (Norris Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Norris Industries Inc (OTCPK:NRIS) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

102 Palo Pinto Street, Suite B, Weatherford, TX, USA, 76086

Website

http://www.iwpetroleum.com

Norris Industries Inc is an oil and gas exploration company managed by business and oil and gas exploration veterans specializing in the oil and gas acquisition and exploration markets of the Central West Texas region. The company is engaged in the acquisition, development, and exploration of crude oil and natural gas properties. Its projects include Dawson in Permian Basin, Bend Arch Tiger in Central West Texas, Guadalupe in South Texas, Bend Arch Lion 1A, and Bend Arch Lion 1B in Central West Texas, and Marshall Walden in East Texas.

Executives

Patrick L. Norris	director, 10 percent owner, officer: CEO, Pres, Sec, Treasurer	409 TERRELL CRT, NEW IBERIA LA 90563
Ross Henry Ramsey	director, officer: President, CEO, CFO	401 BOYD DR #3116, GRAPEVINE TX 76051
Benjamin B Tran	director	49 MONTEREY PINE DR., NEWPORT COAST CA 92657

Norris Industries (Norris Industries) Headlines

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