Comet Industries (TSXV:CMU) Effective Interest Rate on Debt % : 6.67% (As of Jan. 2024)

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What is Comet 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. Comet Industries's annualized positive value of Interest Expense for the quarter that ended in Jan. 2024 was C$0.00 Mil. Comet Industries's average total debt for the quarter that ended in Jan. 2024 was C$0.06 Mil. Therefore, Comet Industries's annualized Effective Interest Rate on Debt % for the quarter that ended in Jan. 2024 was 6.67%.

Comet Industries Effective Interest Rate on Debt % Historical Data

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

Comet Industries Annual Data

Trend

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Jan21

Jan22

Jan23

Jan24

Effective Interest Rate on Debt %

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4.57

4.08

3.89

4.07

2.52

Comet Industries 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															3.94	3.95	3.44	4.26	6.67

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

For the Real Estate Services subindustry, Comet 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.

Comet Industries's Effective Interest Rate on Debt % Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Comet Industries's Effective Interest Rate on Debt % distribution charts can be found below:

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

Comet Industries Effective Interest Rate on Debt % Calculation

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

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Jan. 2023 )	+	Total Debt (A: Jan. 2024 ))	/ count )
=	-1 * -0.018	/	( (0.715	+	0)	/ 1 )
=	-1 * -0.018	/	0.715
=	2.52 %

where

	Total Debt (A: Jan. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0.715
=	0.715

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

Comet Industries'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 * -0.004	/	( (0.06	+	0)	/ 1 )
=	-1 * -0.004	/	0.06
=	6.67 %

where

	Total Debt (Q: Oct. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0.06
=	0.06

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

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.

Comet Industries (TSXV:CMU) Effective Interest Rate on Debt % Explanation

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

Comet Industries Effective Interest Rate on Debt % Related Terms

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Comet Industries (TSXV:CMU) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Comet Industries Ltd (TSXV:CMU) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

1177 West Hastings Street, Suite 1610, Vancouver, BC, CAN, V6E 2K3

Website

Comet Industries Ltd is an exploration-stage company. Principally, it is engaged in the business of acquiring and holding mineral properties, and holding and managing real properties, in British Columbia. The company owns unimproved land in Kamloops, Terrace, Pender Harbor and a rental property in Vancouver, British Columbia on a freehold basis. Its segment includes Rental, Exploration, and General or administration. The company generates maximum revenue from the Rental segment. It owns an interest in the big onion zone on the iron mask property, which consists of approximately five crown granted mineral claims.

Executives

Jesus Alfonso

Director