What is Cummins 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. Cummins's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $368 Mil. Cummins's average total debt for the quarter that ended in Dec. 2023 was $7,589 Mil. Therefore, Cummins's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 4.85%.
Cummins Effective Interest Rate on Debt % Historical Data
The historical data trend for Cummins'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.
Competitive Comparison of Cummins's Effective Interest Rate on Debt %
For the Specialty Industrial Machinery subindustry, Cummins'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.
Cummins's Effective Interest Rate on Debt % Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Cummins's Effective Interest Rate on Debt % distribution charts can be found below:
* The bar in red indicates where Cummins's Effective Interest Rate on Debt % falls into.
Cummins Effective Interest Rate on Debt % Calculation
Cummins's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as
* 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 (Dec. 2023) interest expense data.
Effective Interest Rate on Debt % is displayed in the 30-year financial page.
Cummins (NYSE:CMI) Effective Interest Rate on Debt % Explanation
Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.
Cummins Effective Interest Rate on Debt % Related Terms
Thank you for viewing the detailed overview of Cummins's Effective Interest Rate on Debt % provided by GuruFocus.com. Please click on the following links to see related term pages.
Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway equipment, and railroad locomotives, in addition to standby and prime power generators. The company also sells powertrain components, which include transmissions, turbochargers, aftertreatment systems, and fuel systems. Cummins is in the unique position of competing with its primary customers, heavy-duty truck manufacturers, who make and aggressively market their own engines. Despite robust competition across all its segments and increasing government regulation of carbon emissions, Cummins has maintained its leadership position in the industry.
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