Sovos Brands (Sovos Brands) Effective Interest Rate on Debt % : 13.30% (As of Dec. 2023)

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What is Sovos 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. Sovos Brands's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $66 Mil. Sovos Brands's average total debt for the quarter that ended in Dec. 2023 was $499 Mil. Therefore, Sovos Brands's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 13.30%.

Sovos Brands Effective Interest Rate on Debt % Historical Data

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

Sovos Brands Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

8.55

6.29

7.16

5.77

8.53

Sovos Brands Quarterly Data
	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial											8.39	6.97	6.96	6.92	13.30

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

For the Packaged Foods subindustry, Sovos 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.

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

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

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

Sovos Brands Effective Interest Rate on Debt % Calculation

Sovos 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 * -42.58	/	( (499.814	+	498.647)	/ 2 )
=	-1 * -42.58	/	499.2305
=	8.53 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	496.407	+	3.407
=	499.814

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	495.188	+	3.459
=	498.647

Sovos Brands'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: Sep. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -66.32	/	( (498.702	+	498.647)	/ 2 )
=	-1 * -66.32	/	498.6745
=	13.30 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	495.455	+	3.247
=	498.702

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	495.188	+	3.459
=	498.647

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 (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Sovos Brands (NAS:SOVO) Effective Interest Rate on Debt % Explanation

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

Sovos Brands Effective Interest Rate on Debt % Related Terms

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Sovos Brands (Sovos Brands) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Sovos Brands Inc (NAS:SOVO) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

168 Centennial Parkway, Suite 200, Louisville, CO, USA, 80027

Website

https://www.sovosbrands.com

Sovos Brands Inc is a food company in the United States. Its brands are Rao's, noosa, Birch Benders, and Michael Angelo's. Its Rao's products include our Rao's Homemade pasta sauces (including tomato-based sauces, Alfredo sauces, and Pesto sauces), pizza sauces, and dry pasta; Rao's Homestyle meat-based pasta sauces; and Rao's Made for Home frozen entrees and soups.

Executives

Todd R Lachman	director, officer: President and CEO
Isobel A Jones	officer: CLO, GC and Secretary	C/O DIAMOND FOODS, INC., 600 MONTGOMERY STREET, 13TH FLOOR, SAN FRANCISCO CA 94111
Christopher W. Hall	officer: Chief Financial Officer	C/O SOVOS BRANDS, INC., 168 CENTENNIAL PARKWAY, SUITE 200, LOUISVILLE CO 80027
Katie Gvazdinskas	officer: Chief Human Resources Officer	C/O SOVOS BRANDS, INC., 168 CENTENNIAL PARKWAY, SUITE 200, LOUISVILLE CO 80027
Kirk A. Jensen	officer: Chief Supply Chain Officer	C/O SOVOS BRANDS, INC., 168 CENTENNIAL PARKWAY, SUITE 200, LOUISVILLE CO 80027
Risa Cretella	officer: Executive Vice President	C/O SOVOS BRANDS, INC., 168 CENTENNIAL PARKWAY, SUITE 200, LOUISVILLE CO 80027
Lisa Y. O'driscoll	officer: Chief Administrative Officer	C/O SOVOS BRANDS, INC., 168 CENTENNIAL PARKWAY, SUITE 200, LOUISVILLE CO 80027
Yuri Hermida	officer: Chief Growth Officer	C/O SOVOS BRANDS, INC., 168 CENTENNIAL PARKWAY, SUITE 200, LOUISVILLE CO 80027
Advent International Gp, Llc	10 percent owner	800 BOYLSTON STREET SUITE 3300, BOSTON MA 02199
Advent International Corp/ma	10 percent owner	800 BOYLSTON STREET SUITE 3300, BOSTON MA 02199
Jefferson M Case	director	800 BOYLSTON STREET SUITE 3300, BOSTON MA 02199
Neha Mathur	director	C/O ADVENT INTERNATIONAL, PRUDENTIAL TOWER, 800 BOYLSTON STREET, BOSTON MA 02199
Robert L Graves	director	C/O SOVOS BRANDS, INC., 168 CENTENNIAL PARKWAY, SUITE 200, LOUISVILLE CO 80027
Wendy K. Behr	officer: Chief R&D Officer	C/O SOVOS BRANDS, INC., 168 CENTENNIAL PARKWAY, SUITE 200, LOUISVILLE CO 80027
Priscilla Tuan	officer: Chief Marketing Officer	C/O SOVOS BRANDS, INC., 168 CENTENNIAL PARKWAY, SUITE 200, LOUISVILLE CO 80027