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DriveItAway Holdings (DriveItAway Holdings) Effective Interest Rate on Debt % : 45.49% (As of Mar. 2024)


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What is DriveItAway Holdings 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. DriveItAway Holdings's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $0.74 Mil. DriveItAway Holdings's average total debt for the quarter that ended in Mar. 2024 was $1.62 Mil. Therefore, DriveItAway Holdings's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 45.49%.


DriveItAway Holdings Effective Interest Rate on Debt % Historical Data

The historical data trend for DriveItAway Holdings'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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DriveItAway Holdings Effective Interest Rate on Debt % Chart

DriveItAway Holdings Annual Data
Trend Sep21 Sep22 Sep23
Effective Interest Rate on Debt %
4.32 107.53 23.81

DriveItAway Holdings Quarterly Data
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 22.02 23.92 26.26 49.55 45.49

Competitive Comparison of DriveItAway Holdings's Effective Interest Rate on Debt %

For the Rental & Leasing Services subindustry, DriveItAway Holdings'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.


DriveItAway Holdings's Effective Interest Rate on Debt % Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, DriveItAway Holdings's Effective Interest Rate on Debt % distribution charts can be found below:

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



DriveItAway Holdings Effective Interest Rate on Debt % Calculation

DriveItAway Holdings's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Sep. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Sep. 2022 )+Total Debt  (A: Sep. 2023 ))/ count )
=-1  *  -0.301/( (1.048+1.48)/ 2 )
=-1  *  -0.301/1.264
=23.81 %

where

Total Debt  (A: Sep. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.298 + 0.75
=1.048

Total Debt  (A: Sep. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.307 + 1.173
=1.48

DriveItAway Holdings'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  *  -0.736/( (1.507+1.729)/ 2 )
=-1  *  -0.736/1.618
=45.49 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.119 + 1.388
=1.507

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.129 + 1.6
=1.729

* 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.


DriveItAway Holdings  (OTCPK:DWAY) Effective Interest Rate on Debt % Explanation

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


DriveItAway Holdings Effective Interest Rate on Debt % Related Terms

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DriveItAway Holdings (DriveItAway Holdings) Business Description

Traded in Other Exchanges
N/A
Address
3201 Market Street, Suite 200/201, Philadelphia, PA, USA, 10104
DriveItAway Holdings Inc provides dealer focused mobility platform that enables car dealers to sell more vehicles in a seamless way through eCommerce, with its Pay as You Go app-based subscription program. DIA provides a comprehensive turn-key, solutions-driven program with proprietary mobile technology and driver app, insurance coverages, and training to get dealerships up and running quickly and profitably in emerging online sales opportunities.
Executives
Paul Patrizio director, 10 percent owner 90 WASHINGTON VALLEY ROAD, BEDMINSTER NJ 07921
John Francis Possumato director, 10 percent owner, officer: Chief Executive Officer 116 THIRD AVENUE, HADDON HEIGHTS NJ 08035
Adam Joseph Potash director, 10 percent owner, officer: Chief Operating Officer 259-10, HILLSIDE AVENUE, APT. 6H, FLORAL PARK NY 11004
Aep Holdings Llc 10 percent owner 1 WHITE BUCK RUN, WARREN NJ 07059
Minds' Eye Innovations, Inc. 10 percent owner 259-10 HILLSIDE AVENUE, APT. 6H, FLORAL PARK NY 11004
Driveltaway Llc 10 percent owner 116 THIRD AVENUE, HADDON HEIGHTS NJ 08035
Zell Richard Gery Ii director 8 GEARYS RIDGE RD, RINGOES NJ 08551
Christopher Rego director 212 BELLEROSE DR., SAN JOSE CA 95128
Franventures, Llc 10 percent owner 796 CYPRESS CROSSING TRAIL, ST. AUGUSTINE FL 32095
Blake Furlow director, 10 percent owner 2110 N WESTGATE, BOISE ID 83704
Bart Jay Mitchell director 7853 N HILLIARD CT, COEUR D' ALENE ID 83815
Gary L Herman director 720 FIFTH AVE, 10TH FLOOR, NEW YORK NY 10019
Karla Kretsch officer: Chief Operating Officer 701 MARKET STREET, SUITE 113, ST. AUGUSTINE FL 32095
Christian Miller officer: Chief Financial Officer 701 MARKET STREET, SUITE 113, ST. AUGUSTINE FL 32095
Joyann Kenny-charlton director 194 TWINING BRIDGE ROAD, NEWTOWN PA 18940

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