Worthington Net Receivables vs Net Invested Capital Analysis
| WS Stock | 32.99 0.01 0.03% |
Worthington Steel financial indicator trend analysis is more than just analyzing Worthington Steel current accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Worthington Steel is a good investment. Please check the relationship between Worthington Steel Net Receivables and its Net Invested Capital accounts. Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worthington Steel. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state. For more information on how to buy Worthington Stock please use our How to Invest in Worthington Steel guide.
Net Receivables vs Net Invested Capital
Net Receivables vs Net Invested Capital Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Worthington Steel Net Receivables account and Net Invested Capital. At this time, the significance of the direction appears to have almost identical trend.
The correlation between Worthington Steel's Net Receivables and Net Invested Capital is 0.97. Overlapping area represents the amount of variation of Net Receivables that can explain the historical movement of Net Invested Capital in the same time period over historical financial statements of Worthington Steel, assuming nothing else is changed. The correlation between historical values of Worthington Steel's Net Receivables and Net Invested Capital is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Receivables of Worthington Steel are associated (or correlated) with its Net Invested Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Invested Capital has no effect on the direction of Net Receivables i.e., Worthington Steel's Net Receivables and Net Invested Capital go up and down completely randomly.
Correlation Coefficient | 0.97 |
| Relationship Direction | Positive |
| Relationship Strength | Very Strong |
Net Receivables
Net Invested Capital
The total amount of capital invested in a company, including both equity and debt, minus any cash or cash equivalents.Most indicators from Worthington Steel's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Worthington Steel current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worthington Steel. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state. For more information on how to buy Worthington Stock please use our How to Invest in Worthington Steel guide.Tax Provision is likely to gain to about 34.8 M in 2024, whereas Selling General Administrative is likely to drop slightly above 192.6 M in 2024.
| 2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 395.5M | 340.4M | 306.4M | 295.1M | Total Revenue | 4.1B | 3.6B | 4.2B | 3.6B |
Worthington Steel fundamental ratios Correlations
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Worthington Steel Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Pair Trading with Worthington Steel
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 Worthington Steel 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 Worthington Steel will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Worthington Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Worthington Steel 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 Worthington Steel - 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 Worthington Steel to buy it.
The correlation of Worthington Steel 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 Worthington Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Worthington Steel 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 Worthington Steel 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 Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worthington Steel. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state. For more information on how to buy Worthington Stock please use our How to Invest in Worthington Steel guide.You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Complementary Tools for Worthington Stock analysis
When running Worthington Steel's price analysis, check to measure Worthington Steel's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Worthington Steel is operating at the current time. Most of Worthington Steel's value examination focuses on studying past and present price action to predict the probability of Worthington Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Worthington Steel's price. Additionally, you may evaluate how the addition of Worthington Steel to your portfolios can decrease your overall portfolio volatility.
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Is Worthington Steel's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Worthington Steel. If investors know Worthington will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Worthington Steel listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Revenue Per Share 67.536 | Quarterly Revenue Growth (0.07) |
The market value of Worthington Steel is measured differently than its book value, which is the value of Worthington that is recorded on the company's balance sheet. Investors also form their own opinion of Worthington Steel's value that differs from its market value or its book value, called intrinsic value, which is Worthington Steel's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Worthington Steel's market value can be influenced by many factors that don't directly affect Worthington Steel's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Worthington Steel's value and its price as these two are different measures arrived at by different means. Investors typically determine if Worthington Steel is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Worthington Steel's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.