Covalon Technologies Financials
| COV Stock | CAD 0.97 0.13 11.82% |
| Current Value | Last Year | Change From Last Year | 10 Year Trend | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Debt Equity Ratio | 0.0711 | 0.0748 |
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| Current Ratio | 4.64 | 4.72 |
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Covalon | Select Account or Indicator |
Understanding current and past Covalon Technologies Financials, including the trends in assets, liabilities, equity and income are directly related to making proper and timely investing decisions. All of Covalon Technologies' financial statements are interrelated, with each one affecting the others. For example, an increase in Covalon Technologies' assets may result in an increase in income on the income statement.
The data published in Covalon Technologies' official financial statements usually reflect Covalon Technologies' business processes, product offerings, services, and other fundamental events. But there are other numbers, ratios, or fundamental indicators derived from these statements that are easier to understand and visualize within the underlying realities that drive quantitative information of Covalon Technologies. For example, before you start analyzing numbers published by Covalon accountants, it's critical to develop an understanding of what Covalon Technologies' liquidity, profitability, and earnings quality are in the context of the Biotechnology space in which it operates.
Please note, the presentation of Covalon Technologies' financial position, as portrayed in its financial statements, is often influenced by management's estimates, judgments, and sometimes even manipulations. In the best case, Covalon Technologies' management is honest, while the outside auditors are strict and uncompromising. Whatever the case, the imprecision that can be found in Covalon Technologies' accounting process means that the reasonable investor should take a skeptical approach toward the financial statement analysis of Covalon Technologies. Please utilize our Beneish M Score to check the likelihood of Covalon Technologies' management manipulating its earnings.
Covalon Technologies Stock Summary
Covalon Technologies competes with Rogers Sugar, Chemtrade Logistics, and Exchange Income. Covalon Technologies Ltd. researches, develops, manufactures, commercializes, and licenses medical technologies and products in the United States, Canada, the United Kingdom, Europe, the Middle East, Asia, Latin America, and internationally. It serves hospitals, wound care centers, burn centers, extendedalternate care and acute care facilities, home health care agencies, and physicians offices. COVALON TECHNOLOGIES operates under Biotechnology classification in Exotistan and is traded on Commodity Exchange.| Foreign Associate | USA |
Specialization | Health Care, Pharmaceuticals, Biotechnology & Life Sciences |
| Instrument | Canada Stock View All |
| Exchange | TSX Venture Exchange |
| ISIN | CA22282D3022 |
| Business Address | 1660 Tech Avenue, |
| Sector | Biotechnology |
| Industry | Health Care |
| Benchmark | NYSE Composite |
| Website | www.covalon.com |
| Phone | 905 568 8400 |
| Currency | CAD - Canadian Dollar |
You should never invest in Covalon Technologies without having analyzed its financial statements. Do not rely on someone else's analysis or guesses about the future performance of Covalon Stock, because this is throwing your money away. Analyzing the key information contained in Covalon Technologies' financial statements can give you an edge over other investors and help to ensure that your investments perform well for you.
Covalon Technologies Key Financial Ratios
Generally speaking, Covalon Technologies' financial ratios allow both analysts and investors to convert raw data from Covalon Technologies' financial statements into concise, actionable information that can be used to evaluate the performance of Covalon Technologies over time and compare it to other companies across industries. There are many critical financial ratios that investors are exposed to on a daily basis, but they are usually grouped into few meaningful categories from each financial statement that Covalon Technologies reports annually and quarterly.| Return On Equity | -0.24 | ||||
| Profit Margin | (0.20) % | ||||
| Operating Margin | (0.32) % |
Covalon Technologies Key Balance Sheet Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Total Assets | 34.7M | 40.6M | 30.4M | 24.9M | 28.6M | 18.5M | |
| Net Debt | 17.4M | (20.4M) | (11.9M) | (7.2M) | (6.5M) | (6.2M) | |
| Retained Earnings | (47.7M) | (24.2M) | (33.9M) | (38.4M) | (34.5M) | (36.3M) | |
| Accounts Payable | 14.0M | 4.0M | 3.7M | 3.8M | 4.4M | 3.8M | |
| Cash | 3.5M | 22.9M | 14.1M | 8.8M | 10.1M | 6.3M | |
| Net Receivables | 3.3M | 6.4M | 4.7M | 6.2M | 7.1M | 7.4M | |
| Inventory | 7.2M | 4.7M | 5.0M | 5.9M | 6.8M | 7.2M | |
| Other Current Assets | 809.4K | 3.4M | 3.5M | 390.1K | 448.6K | 637.1K | |
| Total Liab | 25.6M | 7.2M | 6.1M | 6.1M | 7.0M | 6.1M | |
| Total Current Assets | 14.8M | 37.4M | 27.2M | 21.3M | 24.5M | 13.3M | |
| Intangible Assets | 2.2M | 897.9K | 1.3M | 1.8M | 2.1M | 1.6M | |
| Other Current Liab | (10.1M) | 414.6K | 209.1K | 668.0K | 601.2K | 631.2K | |
| Other Liab | 438.9K | 290.1K | 162.4K | 51.4K | 46.3K | 43.9K | |
| Net Tangible Assets | 259.4K | (5.6M) | 32.9M | 23.2M | 26.7M | 28.1M | |
| Other Assets | 648.5K | 542.3K | 513.2K | 290.3K | 261.3K | 248.2K | |
| Short Term Debt | 18.2M | 541.4K | 609.6K | 643.4K | 739.9K | 702.9K | |
| Net Invested Capital | 26.8M | 33.4M | 24.2M | 18.8M | 21.6M | 25.1M | |
| Net Working Capital | (7.8M) | 32.4M | 22.7M | 16.1M | 18.5M | 13.4M |
Covalon Technologies Key Income Statement Accounts
An income statement is very similar to a cash flow statement, but instead of showing net revenue minus expenses, it only includes earnings before interest and taxes (EBIT). This number does not have all of the same line items that are on a cash flow statement, but it leaves out non-cash expenses like depreciation and amortization. For example, if you bought $100 worth of goods from Walmart (WMT) using your debit card that has an interest rate of 20%, then paid off the balance at the end of the month with a credit card that charges 30% interest, you would have an income statement showing EBIT of $80 because your expenses are lower than the amount that went into your pocket. The other reason investors look at the income statement is to determine what Covalon Technologies' earnings per share (EPS) will be in order to see if they want to buy more shares or not. For example, if a company earned $20 million in the last quarter and has 100,000 shares outstanding, its EPS is 20 cents. If you find that this number beats analysts' forecasts or is higher than it was from the same period last year, then you might want to buy more of this stock even though its price per share may not have changed.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Operating Income | (6.1M) | 838.3K | (9.1M) | (4.5M) | (4.1M) | (4.3M) | |
| Ebit | (6.1M) | 838.3K | (9.1M) | (4.5M) | (4.1M) | (4.3M) | |
| Research Development | 794.2K | 1.1M | 1.1M | 1.4M | 1.6M | 982.7K | |
| Ebitda | (4.9M) | 1.5M | (8.1M) | (3.6M) | (3.2M) | (3.4M) | |
| Income Before Tax | (7.0M) | 419.0K | (9.3M) | (4.5M) | (4.0M) | (4.2M) | |
| Net Income | (7.0M) | 23.5M | (9.7M) | (4.5M) | (5.1M) | (4.9M) | |
| Interest Expense | 889.1K | 860.2K | 419.4K | 111.6K | 128.3K | 247.2K | |
| Total Revenue | 25.8M | 19.6M | 18.1M | 26.6M | 30.6M | 32.1M | |
| Gross Profit | 12.5M | 9.7M | 7.5M | 14.4M | 16.5M | 17.3M | |
| Cost Of Revenue | 13.3M | 9.9M | 10.7M | 12.2M | 14.1M | 14.8M | |
| Net Interest Income | (860.2K) | (419.4K) | (111.6K) | 67.5K | 77.6K | 81.5K |
Covalon Technologies Key Cash Accounts
Cash flow analysis captures how much money flows into and out of Covalon Technologies. It measures of how well Covalon is doing because it can show the actual money that comes into and out of the Company from sales instead of measuring expenses against revenue to determine earnings. You have to read the cash flow statement in three sections. The first section shows how much money Covalon Technologies brought in, usually known as net revenue or sales. This is different from earnings because it does not include expenses when determining net revenue for use on this part of the cash flow statement. Next, are operating activities, which show how much money Covalon had leftover after paying for its expenses. This number can be calculated in two ways: by subtracting the total of all operating expenses from net revenue or by adding up changes to cash and other assets or liabilities on this part of the statement. The third section is about investing activities, which shows what Covalon Technologies has done with the money that it received from the sale of assets or what it spent to acquire new ones. This section can be broken down into two parts: investing in existing businesses (in other words, buying more stock) and investing in non-business activities like paying off debt or making acquisitions.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Change To Inventory | 1.4M | 2.2M | (63.4K) | (1.0M) | (939.2K) | (892.3K) | |
| Change In Cash | (6.1M) | 19.4M | (8.9M) | (5.3M) | (4.7M) | (4.5M) | |
| Free Cash Flow | (4.4M) | 443.7K | (9.1M) | (4.5M) | (4.1M) | (3.8M) | |
| Depreciation | 1.2M | 700.5K | 1.0M | 969.4K | 1.1M | 1.2M | |
| Other Non Cash Items | 860.2K | 419.4K | 110.8K | 66.2K | 59.6K | 56.6K | |
| Capital Expenditures | 371.1K | 177.7K | 1.1M | 1.3M | 1.5M | 1.6M | |
| Net Income | (7.0M) | 419.0K | (9.3M) | (4.5M) | (4.0M) | (4.2M) | |
| End Period Cash Flow | 3.5M | 22.9M | 14.1M | 8.8M | 10.1M | 6.3M | |
| Investments | (370.4K) | (278.5K) | (843.0K) | (1.5M) | (1.3M) | (1.4M) | |
| Change To Netincome | 2.6M | 2.2M | (22.8M) | 335.5K | 301.9K | 317.0K | |
| Net Borrowings | 6.9M | (1.1M) | (8.0M) | (585.2K) | (526.7K) | (500.3K) |
Covalon Financial Ratios Relationships
Comparative valuation techniques use various fundamental indicators to help in determining Covalon Technologies's current stock value. Our valuation model uses many indicators to compare Covalon Technologies value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Covalon Technologies competition to find correlations between indicators driving Covalon Technologies's intrinsic value. More Info.Covalon Technologies 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 . At this time, Covalon Technologies' Return On Equity is fairly stable compared to the past year.Comparative valuation analysis is a catch-all model that can be used if you cannot value Covalon Technologies by discounting back its dividends or cash flows. This model doesn't attempt to find an intrinsic value for Covalon Technologies' 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 Covalon Technologies' earnings, one of the primary drivers of an investment's value.Covalon Technologies Systematic Risk
Covalon Technologies' systematic risk plays a vital role in portfolio allocation when considering its stock to be added to a well-diversified portfolio. Covalon Technologies volatility which cannot be eliminated through diversification, requires returns over the risk-free rate. Over the long run, a well-diversified portfolio provides returns that match its exposure to systematic risk. In this case, investors face a trade-off between expected returns and systematic risk and, therefore, can only reduce a portfolio's exposure to systematic risk by sacrificing expected returns on the portfolio.
The output start index for this execution was three with a total number of output elements of fifty-eight. The Beta measures systematic risk based on how returns on Covalon Technologies correlated with the market. If Beta is less than 0 Covalon Technologies generally moves in the opposite direction as compared to the market. If Covalon Technologies Beta is about zero movement of price series is uncorrelated with the movement of the benchmark. if Beta is between zero and one Covalon Technologies is generally moves in the same direction as, but less than the movement of the market. For Beta = 1 movement of Covalon Technologies is generally in the same direction as the market. If Beta > 1 Covalon Technologies moves generally in the same direction as, but more than the movement of the benchmark.
Covalon Technologies Total Assets Over Time
About Covalon Technologies Financials
What exactly are Covalon Technologies Financials? Typically, a company's financial statements are the reports that show the financial position of the company. Three primary documents fall into the category of financial statements. These documents include Covalon Technologies' income statement, its balance sheet, and the statement of cash flows. Potential Covalon Technologies investors and stakeholders use financial statements to determine how well the company is positioned to perform in the future. Although Covalon Technologies investors may use each financial statement separately, they are all related. The changes in Covalon Technologies's assets and liabilities, for example, are also reflected in the revenues and expenses that we see on Covalon Technologies's income statement, which results in the company's gains or losses. Cash flows can provide more information regarding cash listed on a balance sheet, but not equivalent to net income shown on the income statement. Please read more on our technical analysis and fundamental analysis pages.Steps to analyze Covalon Technologies Financials for Investing
There are several different ways that investors can use financial statements to try and predict whether a stock price will go up or down. Unfortunately, there is no surefire formula, but there are some general guidelines you should consider when looking at the numbers. First, realize what kind of company it is so you know if its revenues are more likely to grow or shrink over time. For example, a software company's revenue is expected to increase yearly due to new products and services that its customers will want to buy. At the same time, a car manufacturer might not be able to sell as many cars when the economy slows down, so it would have less net income during those times. Second, pay attention to its debt-to-equity ratio because this number will tell you how much risk it has. If a company such as Covalon Technologies is not taking on any additional risks, its debt-to-equity should be less than one. As a general rule of thumb, if the market value or book value (which can be found in the footnotes) of assets exceeds the company's liabilities, then it is probably in good shape. Finally, use other financial statements to determine if a stock price will go up or down because investors are always looking for growth opportunities when they buy new stocks. For example, if you see that the net revenue of Covalon has grown by more than 25% over the last five years, then there is a good chance that it will continue growing by at least 20% or more each year. On the other hand, if you see that net revenue has only increased by about 15%, which is barely above inflation levels, then chances are it will not grow much faster than this over time, and investors may shy away from buying it. In summary, you can determine if Covalon Technologies' financials are consistent with your investment objective using the following steps:- Review Covalon Technologies' balance sheet accounts, such as liabilities and equity, to understand its overall financial position.
- Analyze the income statement and examine the company's revenue, expenses, and profits over time to determine its financial performance.
- Study the cash flow inflows and outflows to understand Covalon Technologies' liquidity and solvency.
- Look at the growth rates in revenue, earnings, and cash flow over time to determine its potential for future growth.
- Compare Covalon Technologies' financials to those of its peers to see how it stacks up and identify any potential red flags.
- Use valuation ratios to evaluate the company's financials using commonly used ratios such as the price-to-earnings (P/E) ratio, price-to-sales (P/S) ratio, and enterprise value-to-earnings before interest, taxes, depreciation, and amortization (EV/EBITDA) ratio to determine if Covalon Technologies' stock is overvalued or undervalued.
Today, most investors in Covalon Technologies Stock are looking for potential investment opportunities by analyzing not only static indicators but also various Covalon Technologies' growth ratios. Consistent increases or decreases in fundamental ratios usually indicate a possible pattern that can be successfully translated into profits. However, when comparing two companies, knowing each company's growth growth rates may not be enough to decide which company is a better investment. That's why investors frequently use static breakdown of Covalon Technologies growth as a starting point in their analysis.
Price Earnings To Growth Ratio |
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Covalon Technologies April 25, 2024 Opportunity Range
Along with financial statement analysis, the daily predictive indicators of Covalon Technologies help investors to analyze its daily demand and supply, volume, patterns, and price swings to determine the real value of Covalon Technologies. We use our internally-developed statistical techniques to arrive at the intrinsic value of Covalon Technologies based on widely used predictive technical indicators. In general, we focus on analyzing Covalon Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Covalon Technologies's daily price indicators and compare them against related drivers.
| Downside Deviation | 6.26 | |||
| Information Ratio | 0.0322 | |||
| Maximum Drawdown | 32.19 | |||
| Value At Risk | (6.47) | |||
| Potential Upside | 9.84 |
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Covalon Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Complementary Tools for Covalon Stock analysis
When running Covalon Technologies' price analysis, check to measure Covalon Technologies' 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 Covalon Technologies is operating at the current time. Most of Covalon Technologies' value examination focuses on studying past and present price action to predict the probability of Covalon Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Covalon Technologies' price. Additionally, you may evaluate how the addition of Covalon Technologies to your portfolios can decrease your overall portfolio volatility.
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