Allete Operating Income vs Inventory Turnover Analysis

ALE Stock

USD 57.40 0.38 0.66%

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 Operating Income and its Inventory Turnover 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.

Operating Income vs Inventory Turnover

Operating Income vs Inventory Turnover Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Allete Inc Operating Income account and Inventory Turnover. At this time, the significance of the direction appears to have weak contrarian relationship.

The correlation between Allete's Operating Income and Inventory Turnover is -0.13. Overlapping area represents the amount of variation of Operating Income that can explain the historical movement of Inventory Turnover 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 Operating Income and Inventory Turnover is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Operating Income of Allete Inc are associated (or correlated) with its Inventory Turnover. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Inventory Turnover has no effect on the direction of Operating Income i.e., Allete's Operating Income and Inventory Turnover go up and down completely randomly.

Correlation Coefficient

-0.13

Relationship Direction	Negative
Relationship Strength	Insignificant

View All Relationships

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.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period, indicating the efficiency of inventory management.

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

Gross Profit Total Revenue

Allete fundamental ratios Correlations

	Common Stock Shares Outstanding	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Short Term Debt	Common Stock	Other Liab
Common Stock Shares Outstanding		0.93	0.92	0.48	0.69	0.95	0.93	0.91	0.9	0.65	-0.02	0.69	0.33	-0.02	0.53	0.67	0.96	0.42	-0.01	0.05	0.96	0.53	0.44	0.51	0.96	0.89
Total Assets	0.93		0.97	0.57	0.78	0.99	0.98	0.96	0.98	0.52	-0.19	0.81	0.57	-0.19	0.62	0.77	0.95	0.53	0.05	0.07	0.98	0.71	0.52	0.65	0.99	0.87
Short Long Term Debt Total	0.92	0.97		0.57	0.83	0.96	0.99	1.0	0.93	0.53	-0.22	0.79	0.51	-0.22	0.59	0.72	0.92	0.48	0.07	0.11	0.97	0.67	0.45	0.71	0.96	0.89
Other Current Liab	0.48	0.57	0.57		0.55	0.57	0.53	0.58	0.52	0.12	-0.28	0.53	0.37	-0.28	0.79	0.54	0.51	0.56	0.23	-0.24	0.56	0.54	0.56	0.32	0.58	0.48
Total Current Liabilities	0.69	0.78	0.83	0.55		0.79	0.81	0.83	0.78	0.5	-0.34	0.71	0.52	-0.34	0.49	0.66	0.61	0.69	-0.12	-0.01	0.73	0.59	0.58	0.89	0.78	0.62
Total Stockholder Equity	0.95	0.99	0.96	0.57	0.79		0.98	0.95	0.98	0.58	-0.19	0.81	0.54	-0.19	0.64	0.78	0.94	0.53	0.02	0.03	0.98	0.68	0.52	0.63	1.0	0.89
Property Plant And Equipment Net	0.93	0.98	0.99	0.53	0.81	0.98		0.99	0.97	0.56	-0.24	0.78	0.54	-0.24	0.59	0.72	0.93	0.45	0.02	0.13	0.97	0.67	0.43	0.7	0.97	0.89
Net Debt	0.91	0.96	1.0	0.58	0.83	0.95	0.99		0.93	0.49	-0.3	0.77	0.51	-0.3	0.6	0.71	0.91	0.48	0.07	0.11	0.95	0.66	0.44	0.74	0.95	0.89
Retained Earnings	0.9	0.98	0.93	0.52	0.78	0.98	0.97	0.93		0.54	-0.26	0.82	0.65	-0.26	0.58	0.77	0.9	0.5	-0.06	0.13	0.94	0.73	0.45	0.67	0.96	0.84
Accounts Payable	0.65	0.52	0.53	0.12	0.5	0.58	0.56	0.49	0.54		0.35	0.4	0.16	0.35	0.21	0.4	0.55	0.02	-0.28	-0.06	0.56	0.26	0.12	0.24	0.59	0.52
Cash	-0.02	-0.19	-0.22	-0.28	-0.34	-0.19	-0.24	-0.3	-0.26	0.35		-0.19	-0.31	1.0	-0.34	-0.12	0.0	-0.25	0.0	-0.06	-0.1	-0.2	0.01	-0.58	-0.15	-0.24
Non Current Assets Total	0.69	0.81	0.79	0.53	0.71	0.81	0.78	0.77	0.82	0.4	-0.19		0.75	-0.19	0.57	0.98	0.75	0.54	0.07	0.0	0.79	0.95	0.38	0.6	0.79	0.72
Non Currrent Assets Other	0.33	0.57	0.51	0.37	0.52	0.54	0.54	0.51	0.65	0.16	-0.31	0.75		-0.31	0.43	0.69	0.39	0.38	-0.17	0.28	0.46	0.82	0.22	0.48	0.48	0.33
Cash And Short Term Investments	-0.02	-0.19	-0.22	-0.28	-0.34	-0.19	-0.24	-0.3	-0.26	0.35	1.0	-0.19	-0.31		-0.34	-0.12	0.0	-0.25	0.0	-0.06	-0.1	-0.2	0.01	-0.58	-0.15	-0.24
Net Receivables	0.53	0.62	0.59	0.79	0.49	0.64	0.59	0.6	0.58	0.21	-0.34	0.57	0.43	-0.34		0.61	0.57	0.48	0.27	-0.37	0.62	0.51	0.52	0.28	0.66	0.66
Common Stock Total Equity	0.67	0.77	0.72	0.54	0.66	0.78	0.72	0.71	0.77	0.4	-0.12	0.98	0.69	-0.12	0.61		0.72	0.59	0.1	-0.12	0.76	0.92	0.45	0.51	0.77	0.7
Non Current Liabilities Total	0.96	0.95	0.92	0.51	0.61	0.94	0.93	0.91	0.9	0.55	0.0	0.75	0.39	0.0	0.57	0.72		0.36	0.11	0.03	0.99	0.63	0.4	0.46	0.95	0.9
Inventory	0.42	0.53	0.48	0.56	0.69	0.53	0.45	0.48	0.5	0.02	-0.25	0.54	0.38	-0.25	0.48	0.59	0.36		0.22	-0.21	0.45	0.43	0.9	0.53	0.54	0.32
Other Current Assets	-0.01	0.05	0.07	0.23	-0.12	0.02	0.02	0.07	-0.06	-0.28	0.0	0.07	-0.17	0.0	0.27	0.1	0.11	0.22		-0.24	0.09	0.04	0.25	-0.18	0.05	0.2
Other Stockholder Equity	0.05	0.07	0.11	-0.24	-0.01	0.03	0.13	0.11	0.13	-0.06	-0.06	0.0	0.28	-0.06	-0.37	-0.12	0.03	-0.21	-0.24		0.02	0.07	-0.34	0.11	-0.01	0.03
Total Liab	0.96	0.98	0.97	0.56	0.73	0.98	0.97	0.95	0.94	0.56	-0.1	0.79	0.46	-0.1	0.62	0.76	0.99	0.45	0.09	0.02		0.67	0.47	0.58	0.98	0.91
Property Plant And Equipment Gross	0.53	0.71	0.67	0.54	0.59	0.68	0.67	0.66	0.73	0.26	-0.2	0.95	0.82	-0.2	0.51	0.92	0.63	0.43	0.04	0.07	0.67		0.26	0.52	0.65	0.58
Total Current Assets	0.44	0.52	0.45	0.56	0.58	0.52	0.43	0.44	0.45	0.12	0.01	0.38	0.22	0.01	0.52	0.45	0.4	0.9	0.25	-0.34	0.47	0.26		0.34	0.55	0.28
Short Term Debt	0.51	0.65	0.71	0.32	0.89	0.63	0.7	0.74	0.67	0.24	-0.58	0.6	0.48	-0.58	0.28	0.51	0.46	0.53	-0.18	0.11	0.58	0.52	0.34		0.61	0.52
Common Stock	0.96	0.99	0.96	0.58	0.78	1.0	0.97	0.95	0.96	0.59	-0.15	0.79	0.48	-0.15	0.66	0.77	0.95	0.54	0.05	-0.01	0.98	0.65	0.55	0.61		0.9
Other Liab	0.89	0.87	0.89	0.48	0.62	0.89	0.89	0.89	0.84	0.52	-0.24	0.72	0.33	-0.24	0.66	0.7	0.9	0.32	0.2	0.03	0.91	0.58	0.28	0.52	0.9

Click cells to compare fundamentals

Allete Account Relationship Matchups

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

0.83

AES

AES Financial Report 2nd of May 2024

Pair Corr

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.

Pair Correlation Correlation Matching

When determining whether Allete Inc is a strong investment it is important to analyze Allete's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Allete's future performance. For an informed investment choice regarding Allete Stock, refer to the following important reports:

How To Invest In Allete

Details

Is Allete Stock a good investment?

Details

What is Allete's Net Worth?

Details

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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.

Complementary Tools for Allete Stock analysis

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.

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Allete Operating Income vs Inventory Turnover Analysis

Operating Income vs Inventory Turnover

Operating Income vs Inventory Turnover Correlation Analysis

Correlation Coefficient

Operating Income

Inventory Turnover

Allete fundamental ratios Correlations

Allete Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Allete fundamental ratios Accounts

Pair Trading with Allete

Moving together with Allete Stock

Complementary Tools for Allete Stock analysis

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Net Debt	+ 1.0	Short Long Term Debt Total
Common Stock	+ 1.0	Total Stockholder Equity
Cash And Short Term Investments	+ 1.0	Cash
Total Stockholder Equity	+ 0.99	Total Assets
Common Stock	+ 0.99	Total Assets
Property Plant And Equipment Net	+ 0.99	Short Long Term Debt Total

Short Term Debt	- 0.58	Cash And Short Term Investments
Short Term Debt	- 0.58	Cash
Other Stockholder Equity	- 0.37	Net Receivables
Total Current Assets	- 0.34	Other Stockholder Equity
Net Receivables	- 0.34	Cash And Short Term Investments
Net Receivables	- 0.34	Cash