Advance Gross Profit vs Cash and Equivalents Analysis

AAP Stock  USD 85.09  0.23  0.27%   
Advance Auto financial indicator trend analysis is way more than just evaluating Advance Auto Parts prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Advance Auto Parts is a good investment. Please check the relationship between Advance Auto Gross Profit and its Cash And Equivalents accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Advance Auto Parts. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation.

Gross Profit vs Cash And Equivalents

Gross Profit vs Cash and Equivalents Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Advance Auto Parts Gross Profit account and Cash and Equivalents. At this time, the significance of the direction appears to have weak relationship.
The correlation between Advance Auto's Gross Profit and Cash and Equivalents is 0.34. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Cash and Equivalents in the same time period over historical financial statements of Advance Auto Parts, assuming nothing else is changed. The correlation between historical values of Advance Auto's Gross Profit and Cash and Equivalents is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Gross Profit of Advance Auto Parts are associated (or correlated) with its Cash and Equivalents. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cash and Equivalents has no effect on the direction of Gross Profit i.e., Advance Auto's Gross Profit and Cash and Equivalents go up and down completely randomly.

Correlation Coefficient

0.34
Relationship DirectionPositive 
Relationship StrengthVery Weak

Gross Profit

Gross profit is a required income statement account that reflects total revenue of Advance Auto Parts minus its cost of goods sold. It is profit before Advance Auto operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Cash And Equivalents

Most indicators from Advance Auto's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Advance Auto Parts 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Advance Auto Parts. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation.
As of 03/28/2024, Selling General Administrative is likely to drop to about 2.7 B. In addition to that, Tax Provision is likely to drop to about 55.2 M
 2021 2022 2023 2024 (projected)
Gross Profit4.9B5.0B4.5B3.2B
Total Revenue11.0B11.2B11.3B7.2B

Advance Auto fundamental ratios Correlations

0.720.870.2-0.570.2-0.190.8-0.60.980.80.890.660.840.770.89-0.430.950.820.97-0.450.680.97-0.560.920.9
0.720.330.38-0.540.380.190.9-0.030.560.920.360.720.80.770.46-0.40.690.820.590.030.250.79-0.560.410.61
0.870.33-0.11-0.32-0.11-0.480.53-0.820.950.490.980.470.650.540.94-0.40.840.610.95-0.650.680.79-0.290.980.8
0.20.38-0.11-0.331.00.140.210.090.130.410.080.460.260.010.14-0.30.180.250.090.130.00.13-0.340.070.24
-0.57-0.54-0.32-0.33-0.33-0.6-0.620.18-0.51-0.64-0.3-0.26-0.63-0.46-0.39-0.05-0.53-0.65-0.450.13-0.36-0.531.0-0.35-0.45
0.20.38-0.111.0-0.330.140.210.090.130.410.080.460.260.010.14-0.30.180.250.090.130.00.13-0.340.070.24
-0.190.19-0.480.14-0.60.140.080.52-0.310.08-0.52-0.21-0.050.01-0.410.37-0.20.01-0.340.43-0.23-0.14-0.62-0.47-0.27
0.80.90.530.21-0.620.210.08-0.230.70.980.510.60.950.780.57-0.240.750.980.7-0.220.450.85-0.640.560.67
-0.6-0.03-0.820.090.180.090.52-0.23-0.72-0.21-0.81-0.4-0.43-0.25-0.810.33-0.73-0.35-0.720.74-0.37-0.440.14-0.78-0.65
0.980.560.950.13-0.510.13-0.310.7-0.720.690.960.580.790.680.94-0.40.920.760.99-0.560.730.91-0.490.980.89
0.80.920.490.41-0.640.410.080.98-0.210.690.510.680.950.730.58-0.310.740.970.69-0.170.430.83-0.660.560.69
0.890.360.980.08-0.30.08-0.520.51-0.810.960.510.550.650.510.96-0.480.850.590.96-0.630.680.78-0.270.990.83
0.660.720.470.46-0.260.46-0.210.6-0.40.580.680.550.680.370.7-0.850.730.620.65-0.070.030.6-0.270.530.7
0.840.80.650.26-0.630.26-0.050.95-0.430.790.950.650.680.670.73-0.350.810.990.79-0.350.450.83-0.640.680.73
0.770.770.540.01-0.460.010.010.78-0.250.680.730.510.370.670.51-0.110.730.70.68-0.190.520.86-0.470.590.63
0.890.460.940.14-0.390.14-0.410.57-0.810.940.580.960.70.730.51-0.60.90.660.96-0.580.480.77-0.370.940.82
-0.43-0.4-0.4-0.3-0.05-0.30.37-0.240.33-0.4-0.31-0.48-0.85-0.35-0.11-0.6-0.47-0.27-0.5-0.140.12-0.36-0.06-0.44-0.47
0.950.690.840.18-0.530.18-0.20.75-0.730.920.740.850.730.810.730.9-0.470.770.94-0.510.510.88-0.510.870.9
0.820.820.610.25-0.650.250.010.98-0.350.760.970.590.620.990.70.66-0.270.770.75-0.310.470.83-0.670.630.7
0.970.590.950.09-0.450.09-0.340.7-0.720.990.690.960.650.790.680.96-0.50.940.75-0.530.640.91-0.430.970.88
-0.450.03-0.650.130.130.130.43-0.220.74-0.56-0.17-0.63-0.07-0.35-0.19-0.58-0.14-0.51-0.31-0.53-0.43-0.310.11-0.59-0.4
0.680.250.680.0-0.360.0-0.230.45-0.370.730.430.680.030.450.520.480.120.510.470.64-0.430.7-0.340.730.62
0.970.790.790.13-0.530.13-0.140.85-0.440.910.830.780.60.830.860.77-0.360.880.830.91-0.310.7-0.520.840.86
-0.56-0.56-0.29-0.341.0-0.34-0.62-0.640.14-0.49-0.66-0.27-0.27-0.64-0.47-0.37-0.06-0.51-0.67-0.430.11-0.34-0.52-0.33-0.42
0.920.410.980.07-0.350.07-0.470.56-0.780.980.560.990.530.680.590.94-0.440.870.630.97-0.590.730.84-0.330.86
0.90.610.80.24-0.450.24-0.270.67-0.650.890.690.830.70.730.630.82-0.470.90.70.88-0.40.620.86-0.420.86
Click cells to compare fundamentals

Advance Auto Account Relationship Matchups

Advance Auto fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets11.2B11.8B12.2B12.0B13.0B13.7B
Total Stockholder Equity3.5B3.6B3.1B2.7B2.5B1.8B
Net Debt2.3B2.2B2.8B3.4B3.9B4.1B
Cash418.7M835.0M601.4M269.3M503.5M279.7M
Other Assets52.4M52.3M73.7M62.4M1.00.95
Cash And Short Term Investments418.7M835.0M601.4M269.3M503.5M279.7M
Common Stock Shares Outstanding74.0M71.2M69.0M64.5M59.6M66.8M
Liabilities And Stockholders Equity11.2B11.8B12.2B12.0B13.0B13.7B
Inventory4.4B4.5B4.7B4.9B4.9B2.9B
Other Stockholder Equity(189.2M)(610.4M)(1.5B)(2.0B)(2.0B)(1.9B)
Total Liab7.7B8.3B9.1B9.3B10.5B11.0B
Total Current Assets5.7B6.3B6.3B6.0B6.4B3.6B
Short Long Term Debt Total2.8B3.0B3.4B3.7B4.4B4.7B
Other Current Liab1.1B1.1B1.3B645.9M565.6M338.0M
Total Current Liabilities4.5B4.7B5.2B5.4B5.3B2.9B
Other Liab457.3M488.7M513.6M503.2M578.7M607.6M
Property Plant And Equipment Net3.8B3.8B4.2B4.3B4.2B4.4B
Current Deferred Revenue(478.0M)(462.6M)(465.1M)416.0M118.8M181.5M
Retained Earnings3.8B4.2B4.6B4.7B4.6B4.8B
Accounts Payable3.4B3.6B3.9B4.1B4.2B2.2B
Non Current Assets Total5.6B5.6B5.9B6.0B6.6B7.0B
Non Currrent Assets Other52.4M52.3M73.7M(353.6M)(143.9M)(136.7M)
Long Term Debt747.3M1.0B1.0B1.2B1.8B1.9B
Net Receivables689.5M750.0M782.8M698.6M800.1M840.1M
Non Current Liabilities Total3.2B3.5B3.9B4.0B5.2B5.4B
Other Current Assets155.2M146.8M232.2M163.7M215.7M226.5M
Property Plant And Equipment Gross3.8B3.8B1.5B4.3B7.1B7.4B
Accumulated Other Comprehensive Income(34.6M)(26.8M)(22.6M)(45.1M)(52.2M)(49.6M)
Short Term Debt478.0M462.6M465.1M185M445.1M467.3M
Property Plant Equipment1.4B1.5B1.5B4.3B4.9B5.2B
Treasury Stock(426.0M)(924.4M)(1.4B)(2.3B)(2.1B)(2.0B)
Good Will992.2M993.6M993.7M990.5M991.7M608.6M
Intangible Assets709.8M681.1M651.2M620.9M593.3M393.2M
Net Tangible Assets3.9B4.9B2.5B1.1B1.2B2.0B
Retained Earnings Total Equity3.3B3.8B4.2B4.6B5.3B2.7B
Long Term Debt Total747.3M1.0B1.0B1.2B1.4B1.0B
Capital Surpluse735.2M783.7M845.4M897.6M1.0B723.8M
Deferred Long Term Liab303.6M318.4M334.0M342.4M393.8M218.7M

Pair Trading with Advance Auto

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

Moving together with Advance Stock

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The ability to find closely correlated positions to Advance Auto could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Advance Auto 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 Advance Auto - 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 Advance Auto Parts to buy it.
The correlation of Advance Auto 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 Advance Auto moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advance Auto Parts 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 Advance Auto 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
When determining whether Advance Auto Parts is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Advance Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Advance Auto Parts Stock. Highlighted below are key reports to facilitate an investment decision about Advance Auto Parts Stock:
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Advance Auto Parts. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation.
Note that the Advance Auto Parts information on this page should be used as a complementary analysis to other Advance Auto'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 the Transaction History module to view history of all your transactions and understand their impact on performance.

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When running Advance Auto's price analysis, check to measure Advance Auto'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 Advance Auto is operating at the current time. Most of Advance Auto's value examination focuses on studying past and present price action to predict the probability of Advance Auto's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Advance Auto's price. Additionally, you may evaluate how the addition of Advance Auto to your portfolios can decrease your overall portfolio volatility.
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Is Advance Auto'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 Advance Auto. If investors know Advance 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 Advance Auto 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
(0.40)
Dividend Share
2.25
Earnings Share
0.5
Revenue Per Share
189.925
Quarterly Revenue Growth
(0)
The market value of Advance Auto Parts is measured differently than its book value, which is the value of Advance that is recorded on the company's balance sheet. Investors also form their own opinion of Advance Auto's value that differs from its market value or its book value, called intrinsic value, which is Advance Auto'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 Advance Auto's market value can be influenced by many factors that don't directly affect Advance Auto'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 Advance Auto's value and its price as these two are different measures arrived at by different means. Investors typically determine if Advance Auto is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Advance Auto'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.