Covenant Financial Statements From 2010 to 2024
Covenant Transportation financial statements provide useful quarterly and yearly information to potential Covenant Transportation Group investors about the company's current and past financial position, as well as its overall management performance and changes in financial position over time. Historical trend examination of various income statement and balance sheet accounts found on Covenant Transportation financial statements helps investors assess Covenant Transportation's valuation, profitability, and current liquidity needs. Key fundamental drivers impacting Covenant Transportation's valuation are summarized below:Covenant Transportation Group does not presently have any fundamental signals for analysis.
This module can also supplement various Covenant Transportation Technical models . Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate.
Check Covenant Transportation financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Covenant main balance sheet or income statement drivers, such as , as well as many exotic indicators such as . Covenant financial statements analysis is a perfect complement when working with Covenant Transportation Valuation or Volatility modules.
Covenant |
Covenant Transportation Group Company Operating Margin Analysis
Covenant Transportation's Operating Margin shows how much operating income a company makes on each dollar of sales. It is one of the profitability indicators which helps analysts to understand whether the firm is successful or not making money from everyday operations.
Current Covenant Transportation Operating Margin | 1.27 % |
Most of Covenant Transportation's fundamental indicators, such as Operating Margin, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Covenant Transportation Group is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
A good Operating Margin is required for a company to be able to pay for its fixed costs or payout its debt, which implies that the higher the margin, the better. This ratio is most effective in evaluating the earning potential of a company over time when comparing it against a firm's competitors.
CompetitionBased on the recorded statements, Covenant Transportation Group has an Operating Margin of 1.27%. This is 111.88% lower than that of the Services sector and 44.05% lower than that of the Trucking industry. The operating margin for all United States stocks is 123.05% lower than that of the firm.
Covenant Transportation Fundamental Drivers Relationships
Comparative valuation techniques use various fundamental indicators to help in determining Covenant Transportation's current stock value. Our valuation model uses many indicators to compare Covenant Transportation value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Covenant Transportation competition to find correlations between indicators driving Covenant Transportation's intrinsic value. More Info.Covenant Transportation Group is number one stock in return on equity category among related companies. It is number one stock in return on asset category among related companies reporting about 1.50 of Return On Asset per Return On Equity. Comparative valuation analysis is a catch-all model that can be used if you cannot value Covenant Transportation by discounting back its dividends or cash flows. This model doesn't attempt to find an intrinsic value for Covenant Transportation's Stock. Still, instead, it compares the stock's price multiples to a benchmark or nearest competition to determine if the stock is relatively undervalued or overvalued. The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Covenant Transportation's earnings, one of the primary drivers of an investment's value.Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Covenant Transportation in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Covenant Transportation's short interest history, or implied volatility extrapolated from Covenant Transportation options trading.
Pair Trading with Covenant Transportation
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Covenant Transportation position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Covenant Transportation will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to CSX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CSX when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back CSX - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling CSX Corporation to buy it.
The correlation of CSX is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CSX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CSX Corporation moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for CSX can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Other Consideration for investing in Covenant Stock
If you are still planning to invest in Covenant Transportation check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Covenant Transportation's history and understand the potential risks before investing.
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |