Covetrus Financial Statements From 2010 to 2024
| CVETDelisted Stock | USD 20.99 0.00 0.00% |
Check Covetrus financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Covetrus main balance sheet or income statement drivers, such as , as well as many exotic indicators such as . Covetrus financial statements analysis is a perfect complement when working with Covetrus Valuation or Volatility modules.
Covetrus |
Covetrus Company Operating Margin Analysis
Covetrus' 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 Covetrus Operating Margin | 0.17 % |
Most of Covetrus' 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, Covetrus 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, Covetrus has an Operating Margin of 0.17%. This is 100.48% lower than that of the Healthcare sector and 97.64% lower than that of the Medical Distribution industry. The operating margin for all United States stocks is 103.09% lower than that of the firm.
Covetrus Fundamental Drivers Relationships
Comparative valuation techniques use various fundamental indicators to help in determining Covetrus's current stock value. Our valuation model uses many indicators to compare Covetrus value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Covetrus competition to find correlations between indicators driving Covetrus's intrinsic value. More Info.Covetrus 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 . Comparative valuation analysis is a catch-all model that can be used if you cannot value Covetrus by discounting back its dividends or cash flows. This model doesn't attempt to find an intrinsic value for Covetrus' 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 Covetrus' earnings, one of the primary drivers of an investment's value.About Covetrus Financial Statements
There are typically three primary documents that fall into the category of financial statements. These documents include Covetrus income statement, its balance sheet, and the statement of cash flows. Covetrus investors use historical funamental indicators, such as Covetrus's revenue or net income, to determine how well the company is positioned to perform in the future. Although Covetrus investors may use each financial statement separately, they are all related. The changes in Covetrus's assets and liabilities, for example, are also reflected in the revenues and expenses that we see on Covetrus'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. We offer a historical overview of the basic patterns found on Covetrus Financial Statements. Understanding these patterns can help to make the right decision on long term investment in Covetrus. Please read more on our technical analysis and fundamental analysis pages.
Covetrus, Inc., together with its subsidiaries, operates as an animal-health technology and services company. Covetrus, Inc. was incorporated in 2018 and is headquartered in Portland, Maine. Covetrus operates under Medical Distribution classification in the United States and is traded on NMS Exchange. It employs 4035 people.
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 Covetrus 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, Covetrus' short interest history, or implied volatility extrapolated from Covetrus options trading.
Pair Trading with Covetrus
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 Covetrus 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 Covetrus will appreciate offsetting losses from the drop in the long position's value.Moving together with Covetrus Stock
| 0.77 | MCK | McKesson Financial Report 13th of May 2024 | PairCorr |
Moving against Covetrus Stock
| 0.76 | HNRC | Houston Natural Resources | PairCorr |
| 0.75 | MCAE | Mountain Crest Acqui | PairCorr |
| 0.69 | MCAEU | Mountain Crest Acqui | PairCorr |
| 0.42 | HSIC | Henry Schein Financial Report 14th of May 2024 | PairCorr |
The ability to find closely correlated positions to Covetrus could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Covetrus 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 Covetrus - 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 Covetrus to buy it.
The correlation of Covetrus 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 Covetrus moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Covetrus 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 Covetrus 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 income. Note that the Covetrus information on this page should be used as a complementary analysis to other Covetrus' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Stocks Directory module to find actively traded stocks across global markets.
Other Consideration for investing in Covetrus Stock
If you are still planning to invest in Covetrus 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 Covetrus' history and understand the potential risks before investing.
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