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Tofutti Brands (Tofutti Brands) Effective Interest Rate on Debt % : 10.13% (As of Mar. 2024)


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What is Tofutti Brands 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. Tofutti Brands's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $0.00 Mil. Tofutti Brands's average total debt for the quarter that ended in Mar. 2024 was $0.04 Mil. Therefore, Tofutti Brands's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 10.13%.


Tofutti Brands Effective Interest Rate on Debt % Historical Data

The historical data trend for Tofutti Brands'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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Tofutti Brands Effective Interest Rate on Debt % Chart

Tofutti Brands Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.33 3.46 4.77 1.00 2.17

Tofutti Brands Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.11 3.90 5.13 -7.02 10.13

Competitive Comparison of Tofutti Brands's Effective Interest Rate on Debt %

For the Packaged Foods subindustry, Tofutti Brands'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.


Tofutti Brands's Effective Interest Rate on Debt % Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Tofutti Brands's Effective Interest Rate on Debt % distribution charts can be found below:

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



Tofutti Brands Effective Interest Rate on Debt % Calculation

Tofutti Brands'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  *  -0.002/( (0.139+0.045)/ 2 )
=-1  *  -0.002/0.092
=2.17 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.124 + 0.015
=0.139

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.03 + 0.015
=0.045

Tofutti Brands'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  *  -0.004/( (0.045+0.034)/ 2 )
=-1  *  -0.004/0.0395
=10.13 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.03 + 0.015
=0.045

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.019 + 0.015
=0.034

* 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 four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Tofutti Brands  (OTCPK:TOFB) Effective Interest Rate on Debt % Explanation

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


Tofutti Brands Effective Interest Rate on Debt % Related Terms

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Tofutti Brands (Tofutti Brands) Business Description

Traded in Other Exchanges
N/A
Address
50 Jackson Drive, Cranford, NJ, USA, 07016
Tofutti Brands Inc is engaged in the development, production, and marketing of TOFUTTI brand non-dairy frozen desserts and other food products. It offers soy-based products, plant-based, dairy vegan, frozen desserts, soy-based cheeses and spreads, and other frozen food products. The company sells its dairy-free frozen dessert products, frozen entrees, and soy-cheese products in majorly markets in the United States, including Atlanta, Baltimore, Boston, Charlotte, Chicago, Cincinnati, and Cleveland. It distributes all of its products by common carrier or by allowing customers to pick up products from outside storage facilities.
Executives
Efraim Mintz director TOFUTTI BRANDS INC., 50 JACKSON DRIVE, CRANFORD NJ 07106
Joseph N Himy director 13-01 POLLITT DRIVE, FAIR LAWN NJ 07410
Scott Korman director C/O NASHONE, INC., 175 ELM ROAD, ENGLEWOOD NJ 07361
Neal S Axelrod director C/O TOFUTTI BRANDS INC., 50 JACKSON DRIVE, CRANFORD NJ 07016
Steven Kass officer: Chief Financial Officer 50 JACKSON DRIVE, CRANFORD NJ 07016
Philip Gotthelf director C/O TOFUTTI BRANDS INC., 50 JACKSON DRIVE, CRANFORD NJ 07016
Aron Forem director C/O WUHL SHAFMAN LIEBERMAN CO., 52-62 CORNELIA STREET, NEWARK NJ 07105
Joseph K Fischer director 50 JACKSON DRIVE, CRANFORD NJ 7016
Franklyn H Snitow director 575 LEXINGTON AVE, NEW YORK NY 10017
Jeremy Wiesen director
Reuben Rapoport director, officer: Director-Product Development
David Mintz director, 10 percent owner, officer: President & Chairman 50 JACKSON DRIVE, CRANFORD NJ 07016

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