Allete Interest Coverage vs Operating Income Analysis
ALE Stock | USD 59.96 0.25 0.42% |
Allete financial indicator trend analysis is way more than just evaluating Allete Inc prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Allete Inc is a good investment. Please check the relationship between Allete Interest Coverage and its Operating Income accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Allete Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis.
Interest Coverage vs Operating Income
Interest Coverage vs Operating Income Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Allete Inc Interest Coverage account and Operating Income. At this time, the significance of the direction appears to have weak relationship.
The correlation between Allete's Interest Coverage and Operating Income is 0.32. Overlapping area represents the amount of variation of Interest Coverage that can explain the historical movement of Operating Income in the same time period over historical financial statements of Allete Inc, assuming nothing else is changed. The correlation between historical values of Allete's Interest Coverage and Operating Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Interest Coverage of Allete Inc are associated (or correlated) with its Operating Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Operating Income has no effect on the direction of Interest Coverage i.e., Allete's Interest Coverage and Operating Income go up and down completely randomly.
Correlation Coefficient | 0.32 |
Relationship Direction | Positive |
Relationship Strength | Very Weak |
Interest Coverage
Operating Income
Operating Income is the amount of profit realized from Allete Inc operations after accounting for operating expenses such as cost of goods sold (COGS), wages and depreciation. Operating income takes the gross income and subtracts other operating expenses and then removes depreciation. Operating Income of Allete Inc is typically a synonym for earnings before interest and taxes (EBIT) and is also commonly referred to as operating profit or recurring profit. Earnings before interest and taxes (EBIT), representing the amount of profit a company generates from its operations.Most indicators from Allete's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Allete Inc 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 Allete Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. At present, Allete's Tax Provision is projected to decrease significantly based on the last few years of reporting.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 453.5M | 446.8M | 238.1M | 453.3M | Total Revenue | 1.4B | 1.6B | 1.9B | 1.1B |
Allete fundamental ratios Correlations
Click cells to compare fundamentals
Allete Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Allete fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Common Stock Shares Outstanding | 51.7M | 51.9M | 52.5M | 56M | 57.4M | 34.7M | |
Total Assets | 5.5B | 6.1B | 6.4B | 6.8B | 7.4B | 3.8B | |
Short Long Term Debt Total | 1.6B | 1.8B | 2.0B | 1.9B | 1.8B | 1.2B | |
Other Current Liab | 53.3M | 60.8M | 186.2M | 186.7M | 153.6M | 119.0M | |
Total Current Liabilities | 507.4M | 459.6M | 543.4M | 716.2M | 377.6M | 388.7M | |
Total Stockholder Equity | 2.2B | 2.3B | 2.4B | 2.7B | 2.8B | 1.5B | |
Property Plant And Equipment Net | 4.4B | 4.9B | 5.1B | 5.0B | 5.0B | 2.7B | |
Net Debt | 1.6B | 1.8B | 1.9B | 1.9B | 1.7B | 1.1B | |
Retained Earnings | 818.8M | 864.8M | 900.2M | 934.8M | 1.0B | 556.9M | |
Accounts Payable | 165.2M | 110M | 111M | 103M | 102.2M | 88.5M | |
Cash | 69.3M | 44.3M | 45.1M | 36.4M | 77M | 72.1M | |
Non Current Assets Total | 5.2B | 5.8B | 6.1B | 6.1B | 6.9B | 7.2B | |
Non Currrent Assets Other | 101.2M | 665.3M | 709.1M | 474.5M | 637.2M | 669.1M | |
Cash And Short Term Investments | 69.3M | 44.3M | 45.1M | 36.4M | 77M | 72.3M | |
Net Receivables | 96.4M | 111.9M | 123.7M | 137.9M | 137.2M | 117.3M | |
Common Stock Total Equity | 1.4B | 1.5B | 1.5B | 1.8B | 2.0B | 2.2B | |
Liabilities And Stockholders Equity | 5.5B | 6.1B | 6.4B | 6.8B | 7.4B | 3.8B | |
Non Current Liabilities Total | 2.6B | 2.8B | 2.9B | 2.8B | 3.6B | 1.8B | |
Inventory | 72.8M | 74.2M | 97.7M | 455.9M | 175.4M | 184.2M | |
Other Current Assets | 31M | 24.5M | 24.8M | 87.8M | 78.5M | 71.2M | |
Other Stockholder Equity | 104.1M | 505.5M | 533M | (24.4M) | (22.0M) | (20.9M) | |
Total Liab | 3.1B | 3.3B | 3.5B | 3.5B | 4.0B | 2.3B | |
Property Plant And Equipment Gross | 4.4B | 4.9B | 7.2B | 5.0B | 7.4B | 7.7B | |
Total Current Assets | 269.5M | 254.9M | 291.3M | 718M | 468.1M | 316.6M | |
Accumulated Other Comprehensive Income | (23.6M) | (31.1M) | (23.8M) | (24.4M) | (20.5M) | (21.5M) | |
Short Term Debt | 219.8M | 209.6M | 219M | 275.8M | 114.4M | 123.6M | |
Common Stock | 1.4B | 1.5B | 1.5B | 1.8B | 1.8B | 949.7M | |
Other Liab | 1.2B | 1.2B | 1.2B | 1.1B | 1.3B | 675.9M | |
Other Assets | 609.1M | 990M | 725.5M | 592.5M | 681.4M | 421.1M | |
Long Term Debt | 1.4B | 1.6B | 1.8B | 1.6B | 1.7B | 1.2B | |
Intangible Assets | 223.3M | 1M | 800K | 155.6M | 140.0M | 133.9M | |
Property Plant Equipment | 4.4B | 4.8B | 5.1B | 5.0B | 5.8B | 6.0B | |
Current Deferred Revenue | 69.1M | 79.2M | 27.2M | 150.7M | 7.4M | 7.0M | |
Net Tangible Assets | 2.2B | 2.3B | 2.4B | 2.7B | 3.1B | 1.9B | |
Good Will | 148.3M | 223.3M | 1M | (186.5M) | (214.5M) | (203.8M) | |
Retained Earnings Total Equity | 818.8M | 864.8M | 900.2M | 934.8M | 1.1B | 716.9M | |
Long Term Debt Total | 1.4B | 1.6B | 1.8B | 1.6B | 1.9B | 1.4B |
Pair Trading with Allete
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 Allete 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 Allete will appreciate offsetting losses from the drop in the long position's value.Moving together with Allete Stock
0.79 | AES | AES Financial Report 2nd of May 2024 | PairCorr |
Moving against Allete Stock
0.43 | ELPC | Companhia Paranaense | PairCorr |
The ability to find closely correlated positions to Allete could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Allete 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 Allete - 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 Allete Inc to buy it.
The correlation of Allete 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 Allete moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Allete Inc 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 Allete 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, which includes a position in Allete Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. You can also try the Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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When running Allete's price analysis, check to measure Allete'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 Allete is operating at the current time. Most of Allete's value examination focuses on studying past and present price action to predict the probability of Allete's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Allete's price. Additionally, you may evaluate how the addition of Allete to your portfolios can decrease your overall portfolio volatility.
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Is Allete'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 Allete. If investors know Allete 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 Allete 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 (0.01) | Dividend Share 2.71 | Earnings Share 4.3 | Revenue Per Share 32.806 | Quarterly Revenue Growth (0.05) |
The market value of Allete Inc is measured differently than its book value, which is the value of Allete that is recorded on the company's balance sheet. Investors also form their own opinion of Allete's value that differs from its market value or its book value, called intrinsic value, which is Allete'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 Allete's market value can be influenced by many factors that don't directly affect Allete'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 Allete's value and its price as these two are different measures arrived at by different means. Investors typically determine if Allete is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Allete'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.