Worthington Steel (Worthington Steel) Effective Interest Rate on Debt % : 4.71% (As of Feb. 2024)

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What is Worthington Steel 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. Worthington Steel's annualized positive value of Interest Expense for the quarter that ended in Feb. 2024 was $12 Mil. Worthington Steel's average total debt for the quarter that ended in Feb. 2024 was $246 Mil. Therefore, Worthington Steel's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2024 was 4.71%.

Worthington Steel Effective Interest Rate on Debt % Historical Data

The historical data trend for Worthington Steel'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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Worthington Steel Effective Interest Rate on Debt % Chart

Worthington Steel Annual Data

Trend

May21

May22

May23

Effective Interest Rate on Debt %

3.73

10.86

Worthington Steel Quarterly Data
	May21	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial				-	44.27	8.25	0.32	4.71

Competitive Comparison of Worthington Steel's Effective Interest Rate on Debt %

For the Steel subindustry, Worthington Steel'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.

Worthington Steel's Effective Interest Rate on Debt % Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Worthington Steel's Effective Interest Rate on Debt % distribution charts can be found below:

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

Worthington Steel Effective Interest Rate on Debt % Calculation

Worthington Steel's annualized Effective Interest Rate on Debt % for the fiscal year that ended in May. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: May. 2022 )	+	Total Debt (A: May. 2023 ))	/ count )
=	-1 * -13.811	/	( (153.901	+	100.395)	/ 2 )
=	-1 * -13.811	/	127.148
=	10.86 %

where

	Total Debt (A: May. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	85.261	+	68.64
=	153.901

	Total Debt (A: May. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	71.656	+	28.739
=	100.395

Worthington Steel's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Nov. 2023 )	+	Total Debt (Q: Feb. 2024 ))	/ count )
=	-1 * -11.6	/	( (269.8	+	222.3)	/ 2 )
=	-1 * -11.6	/	246.05
=	4.71 %

where

	Total Debt (Q: Nov. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	69	+	200.8
=	269.8

	Total Debt (Q: Feb. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	68.4	+	153.9
=	222.3

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 (Feb. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Worthington Steel (NYSE:WS) Effective Interest Rate on Debt % Explanation

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

Worthington Steel Effective Interest Rate on Debt % Related Terms

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Worthington Steel (Worthington Steel) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Worthington Steel Inc (NYSE:WS) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

Z2J:Germany

Address

100 Old Wilson Bridge Road, Columbus, OH, USA, 43085

Website

https://www.worthingtonindustries.com

Worthington Steel Inc is one of North America's premier value-added steel processors with the ability to provide a diversified range of products and services that span a variety of end markets. It maintains market-leading positions in the North American carbon flat-rolled steel and tailor-welded blanks industries.

Worthington Steel (Worthington Steel) Headlines

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