Eurodry Z Score

EDRY
 Stock
  

USD 17.80  0.29  1.60%   

Altman Z Score is one of the simplest fundamental models to determine how likely your company is to fail. The module uses available fundamental data of a given equity to approximate the Altman Z score. Altman Z Score is determined by evaluating five fundamental price points available from the company's current public disclosure documents. Continue to Eurodry Piotroski F Score and Eurodry Valuation analysis.
  
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Eurodry Return on Invested Capital is fairly stable at the moment as compared to the past year. Eurodry reported Return on Invested Capital of 0.20 in 2021. Invested Capital Average is likely to rise to about 173.6 M in 2022, whereas Capital Expenditure is likely to drop (37.8 M) in 2022. Eurodry Revenues is fairly stable at the moment as compared to the past year. Eurodry reported Revenues of 64.44 Million in 2021. Weighted Average Shares is likely to rise to about 2.6 M in 2022, whereas Selling General and Administrative Expense is likely to drop slightly above 2.5 M in 2022.

Eurodry Z Score Analysis

Eurodry's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
 2019 2020 2021 2022 (projected)
Current Assets9.58 M6.06 M30.41 M32.81 M
Total Assets117.69 M107.51 M161.33 M152.3 M
Z Score 
 = 
Sum Of  
 
5 Factors 
More About Z Score | All Equity Analysis
First Factor
 = 
1.2 * (
Working Capital
/
Total Assets )
Second Factor
 = 
1.4 * (
Retained Earnings
/
Total Assets )
Thrid Factor
 = 
3.3 * (
EBITAD
/
Total Assets )
Fouth Factor
 = 
0.6 * (
Market Value of Equity
/
Total Liabilities )
Fifth Factor
 = 
0.99 * (
Revenue
/
Total Assets )

Eurodry Z Score Driver Correlations

Understanding the fundamental principles of building solid financial models for Eurodry is extremely important. It helps to project a fair market value of Ford stock properly, considering its historical fundamentals such as Z Score. Since Eurodry's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Eurodry's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Eurodry's interrelated accounts and indicators.
To calculate Z-Score one would need to know current working capital of the company, its total assets, and liabilities, amount of latest retained earnings as well as earnings before interest and tax. Z-Score can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area' with scores of less than 1, indicating the high probability of distress. Z Score is used widely by financial auditors, accountants, money managers, loan processers, wealth advisers, as well as day traders. In the last 25 years, many financial models that utilize z score has been proved to be successful as a predictor of corporate bankruptcy.
Compare to competition

According to the company's disclosures, Eurodry has a Z Score of 0.0. This is 100.0% lower than that of the Industrials sector and about the same as Marine Shipping (which currently averages 0.0) industry. The z score for all United States stocks is 100.0% higher than that of the company.

Eurodry Z Score Peer Comparison

Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Eurodry's direct or indirect competition against its Z Score to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Eurodry could also be used in its relative valuation, which is a method of valuing Eurodry by comparing valuation metrics of similar companies.
Eurodry is currently under evaluation in z score category among related companies.

Eurodry Current Valuation Drivers

We derive many important indicators used in calculating different scores of Eurodry from analyzing Eurodry's financial statements. These drivers represent accounts that assess Eurodry's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Eurodry's important valuation drivers and their relationship over time.
201720182019202020212022 (projected)
Earnings Before Interest Taxes and Depreciation Amortization EBITDA7.45 M9.46 M9.99 M3.01 M41.15 M44.4 M
Earnings Before Interest Taxes and Depreciation Amortization USD7.45 M9.46 M9.99 M3.01 M41.15 M44.4 M
Earnings before Tax849.7 K1.12 M16.5 K(5.88 M)31.15 M33.61 M
Free Cash Flow(6.73 M)(25.08 M)14 M1.71 M2.31 M2.5 M
Invested Capital121.24 M174.33 M153.89 M134.76 M192.75 M187.2 M
Tangible Asset Value97.45 M127.71 M117.69 M107.51 M161.33 M152.3 M
Working Capital(2.02 M)5.48 M(1.59 M)(13.2 M)12.7 M13.71 M

Eurodry Institutional Holders

Institutional Holdings refers to the ownership stake in Eurodry that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Eurodry's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Eurodry's value.
Security TypeSharesValue
Blackrock IncCommon Shares180 K6.1 M
Acadian Asset Management LlcCommon Shares57.1 K1.9 M
Renaissance Technologies LlcCommon Shares26.3 K892 K
Quadrature Capital LtdCommon Shares24.8 K835 K
Two Sigma Advisers LpCommon Shares18.4 K624 K
Marshall Wace LlpCommon Shares17 K577 K
Navellier Associates IncCommon Shares10 K339 K

Eurodry Fundamentals

About Eurodry Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Eurodry's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Eurodry using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Eurodry based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains and minor bulks, including bauxite, phosphate, and fertilizers. As of March 31, 2022, it operated a fleet of ten drybulk carriers comprising five Panamax drybulk carriers, two Ultramax drybulk carrier, two Kamsarmax carriers, and one Supramax drybulk carrier with a cargo capacity of 726,555 deadweight tons. EuroDry Ltd. was incorporated in 2018 and is based in Marousi, Greece.

Eurodry Investors Sentiment

The influence of Eurodry's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Eurodry. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.
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 Eurodry 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, Eurodry's short interest history, or implied volatility extrapolated from Eurodry options trading.

Current Sentiment - EDRY

Eurodry Investor Sentiment

Macroaxis portfolio users are insensible in their opinion about investing in Eurodry. What is your opinion about investing in Eurodry? Are you bullish or bearish?
Bullish
Bearish
50% Bullish
50% Bearish

Pair Trading with Eurodry

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 Eurodry 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 Eurodry will appreciate offsetting losses from the drop in the long position's value.

Eurodry Pair Correlation

Correlation Analysis For Direct Indexing and Tax-loss Harvesting

The ability to find closely correlated positions to Eurodry could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eurodry 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 Eurodry - 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 Eurodry to buy it.
The correlation of Eurodry is a statistical measure of how it moves in relation to other equities. 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 Eurodry moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eurodry 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 Eurodry 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.
Pair CorrelationCorrelation Matching
Continue to Eurodry Piotroski F Score and Eurodry Valuation analysis. Note that the Eurodry information on this page should be used as a complementary analysis to other Eurodry's 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 Price Transformation module to use Price Transformation models to analyze depth of different equity instruments across global markets.

Complementary Tools for Eurodry Stock analysis

When running Eurodry price analysis, check to measure Eurodry'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 Eurodry is operating at the current time. Most of Eurodry's value examination focuses on studying past and present price action to predict the probability of Eurodry's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Eurodry's price. Additionally, you may evaluate how the addition of Eurodry to your portfolios can decrease your overall portfolio volatility.
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Is Eurodry'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 Eurodry. If investors know Eurodry 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 Eurodry listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
18.16
Market Capitalization
52 M
Quarterly Revenue Growth YOY
1.13
Return On Assets
0.21
Return On Equity
0.59
The market value of Eurodry is measured differently than its book value, which is the value of Eurodry that is recorded on the company's balance sheet. Investors also form their own opinion of Eurodry's value that differs from its market value or its book value, called intrinsic value, which is Eurodry'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 Eurodry's market value can be influenced by many factors that don't directly affect Eurodry'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 Eurodry's value and its price as these two are different measures arrived at by different means. Investors typically determine Eurodry value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eurodry'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.