Sphere Net Income vs Current Ratio Analysis

ANY Stock

USD 1.02 0.05 5.15%

Sphere 3D financial indicator trend analysis is much more than just breaking down Sphere 3D Corp prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Sphere 3D Corp is a good investment. Please check the relationship between Sphere 3D Net Income and its Current Ratio accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Sphere 3D Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

Net Income vs Current Ratio

Net Income vs Current Ratio Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Sphere 3D Corp Net Income account and Current Ratio. At this time, the significance of the direction appears to have very week relationship.

The correlation between Sphere 3D's Net Income and Current Ratio is 0.25. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Current Ratio in the same time period over historical financial statements of Sphere 3D Corp, assuming nothing else is changed. The correlation between historical values of Sphere 3D's Net Income and Current Ratio is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Income of Sphere 3D Corp are associated (or correlated) with its Current Ratio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Current Ratio has no effect on the direction of Net Income i.e., Sphere 3D's Net Income and Current Ratio go up and down completely randomly.

Correlation Coefficient

0.25

Relationship Direction	Positive
Relationship Strength	Very Weak

View All Relationships

Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in Sphere 3D Corp financial statement analysis. It represents the amount of money remaining after all of Sphere 3D Corp operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year. It compares a firm's current assets to its current liabilities.

Most indicators from Sphere 3D's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Sphere 3D Corp 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 Sphere 3D Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

Tax Provision is likely to rise to about 51.5 K in 2024, whereas Selling General Administrative is likely to drop slightly above 10.7 M in 2024.

	2021	2022	2023	2024 (projected)
Cost Of Revenue	2.0M	3.4M	22.1M	14.4M
Research Development	971K	605K	1.0M	974.7K

Cost Of Revenue Research Development

Sphere 3D fundamental ratios Correlations

	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Net Debt	Retained Earnings	Cash	Cash And Short Term Investments	Common Stock Shares Outstanding	Short Term Investments	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Other Liab	Net Tangible Assets	Property Plant And Equipment Net	Accounts Payable	Non Current Assets Total	Non Currrent Assets Other	Other Assets	Long Term Debt	Net Receivables	Good Will	Common Stock Total Equity	Retained Earnings Total Equity
Total Assets		0.44	0.38	0.92	-0.37	-0.15	0.83	0.83	0.16	0.43	0.09	0.45	0.44	0.98	0.53	0.3	0.78	0.39	0.99	0.02	0.38	0.37	0.51	0.44	0.49	-0.48
Other Current Liab	0.44		0.83	0.11	0.57	0.09	-0.08	-0.08	-0.13	0.26	0.15	0.76	0.87	0.37	0.84	-0.3	-0.19	0.91	0.45	-0.05	-0.18	0.78	0.94	0.91	0.44	-0.4
Total Current Liabilities	0.38	0.83		0.03	0.68	0.13	0.0	-0.01	-0.29	0.07	-0.03	0.95	0.91	0.39	0.8	-0.45	-0.18	0.91	0.36	-0.14	-0.31	0.61	0.9	0.7	0.39	-0.34
Total Stockholder Equity	0.92	0.11	0.03		-0.68	-0.14	0.94	0.95	0.2	0.37	0.0	0.15	0.06	0.92	0.2	0.44	0.91	0.04	0.91	-0.05	0.47	0.1	0.17	0.17	0.34	-0.34
Net Debt	-0.37	0.57	0.68	-0.68		0.14	-0.72	-0.73	-0.25	-0.25	0.09	0.54	0.62	-0.39	0.42	-0.55	-0.78	0.62	-0.37	-0.01	-0.47	0.35	0.55	0.4	0.05	-0.01
Retained Earnings	-0.15	0.09	0.13	-0.14	0.14		-0.02	-0.04	-0.9	-0.36	-0.83	0.32	0.01	-0.09	0.02	-0.8	-0.39	0.02	-0.2	-0.61	-0.85	0.25	0.23	0.32	-0.65	0.68
Cash	0.83	-0.08	0.0	0.94	-0.72	-0.02		1.0	0.04	0.27	-0.21	0.16	-0.04	0.88	0.09	0.31	0.89	-0.07	0.79	-0.16	0.33	-0.01	0.05	0.01	0.21	-0.21
Cash And Short Term Investments	0.83	-0.08	-0.01	0.95	-0.73	-0.04	1.0		0.06	0.27	-0.19	0.15	-0.05	0.88	0.09	0.33	0.9	-0.07	0.79	-0.16	0.35	-0.02	0.04	0.0	0.21	-0.21
Common Stock Shares Outstanding	0.16	-0.13	-0.29	0.2	-0.25	-0.9	0.04	0.06		0.1	0.92	-0.44	-0.15	0.09	-0.1	0.94	0.43	-0.19	0.22	0.55	0.95	-0.3	-0.3	-0.31	0.36	-0.39
Short Term Investments	0.43	0.26	0.07	0.37	-0.25	-0.36	0.27	0.27	0.1		0.11	0.05	0.27	0.35	0.36	0.12	0.33	0.34	0.44	0.29	0.18	0.43	0.22	0.26	0.78	-0.79
Other Current Assets	0.09	0.15	-0.03	0.0	0.09	-0.83	-0.21	-0.19	0.92	0.11		-0.21	0.15	0.01	0.18	0.75	0.16	0.11	0.16	0.58	0.8	-0.02	-0.02	-0.06	0.39	-0.41
Other Stockholder Equity	0.45	0.76	0.95	0.15	0.54	0.32	0.16	0.15	-0.44	0.05	-0.21		0.84	0.5	0.82	-0.53	-0.11	0.86	0.41	-0.33	-0.4	0.69	0.89	0.7	0.27	-0.21
Total Liab	0.44	0.87	0.91	0.06	0.62	0.01	-0.04	-0.05	-0.15	0.27	0.15	0.84		0.38	0.88	-0.31	-0.11	0.93	0.44	0.17	-0.17	0.73	0.94	0.74	0.47	-0.42
Total Current Assets	0.98	0.37	0.39	0.92	-0.39	-0.09	0.88	0.88	0.09	0.35	0.01	0.5	0.38		0.52	0.25	0.77	0.38	0.95	-0.13	0.33	0.35	0.47	0.38	0.43	-0.42
Other Liab	0.53	0.84	0.8	0.2	0.42	0.02	0.09	0.09	-0.1	0.36	0.18	0.82	0.88	0.52		-0.23	-0.04	0.92	0.52	-0.07	-0.1	0.89	0.88	0.8	0.46	-0.42
Net Tangible Assets	0.3	-0.3	-0.45	0.44	-0.55	-0.8	0.31	0.33	0.94	0.12	0.75	-0.53	-0.31	0.25	-0.23		0.67	-0.37	0.35	0.49	0.99	-0.4	-0.42	-0.41	0.26	-0.3
Property Plant And Equipment Net	0.78	-0.19	-0.18	0.91	-0.78	-0.39	0.89	0.9	0.43	0.33	0.16	-0.11	-0.11	0.77	-0.04	0.67		-0.21	0.77	0.2	0.68	-0.18	-0.11	-0.18	0.33	-0.34
Accounts Payable	0.39	0.91	0.91	0.04	0.62	0.02	-0.07	-0.07	-0.19	0.34	0.11	0.86	0.93	0.38	0.92	-0.37	-0.21		0.39	-0.09	-0.23	0.81	0.92	0.79	0.54	-0.51
Non Current Assets Total	0.99	0.45	0.36	0.91	-0.37	-0.2	0.79	0.79	0.22	0.44	0.16	0.41	0.44	0.95	0.52	0.35	0.77	0.39		0.08	0.43	0.36	0.5	0.44	0.5	-0.5
Non Currrent Assets Other	0.02	-0.05	-0.14	-0.05	-0.01	-0.61	-0.16	-0.16	0.55	0.29	0.58	-0.33	0.17	-0.13	-0.07	0.49	0.2	-0.09	0.08		0.5	-0.19	-0.06	-0.18	0.3	-0.32
Other Assets	0.38	-0.18	-0.31	0.47	-0.47	-0.85	0.33	0.35	0.95	0.18	0.8	-0.4	-0.17	0.33	-0.1	0.99	0.68	-0.23	0.43	0.5		-0.31	-0.29	-0.32	0.38	-0.41
Long Term Debt	0.37	0.78	0.61	0.1	0.35	0.25	-0.01	-0.02	-0.3	0.43	-0.02	0.69	0.73	0.35	0.89	-0.4	-0.18	0.81	0.36	-0.19	-0.31		0.81	0.78	0.3	-0.26
Net Receivables	0.51	0.94	0.9	0.17	0.55	0.23	0.05	0.04	-0.3	0.22	-0.02	0.89	0.94	0.47	0.88	-0.42	-0.11	0.92	0.5	-0.06	-0.29	0.81		0.87	0.35	-0.3
Good Will	0.44	0.91	0.7	0.17	0.4	0.32	0.01	0.0	-0.31	0.26	-0.06	0.7	0.74	0.38	0.8	-0.41	-0.18	0.79	0.44	-0.18	-0.32	0.78	0.87		0.26	-0.21
Common Stock Total Equity	0.49	0.44	0.39	0.34	0.05	-0.65	0.21	0.21	0.36	0.78	0.39	0.27	0.47	0.43	0.46	0.26	0.33	0.54	0.5	0.3	0.38	0.3	0.35	0.26		-0.97
Retained Earnings Total Equity	-0.48	-0.4	-0.34	-0.34	-0.01	0.68	-0.21	-0.21	-0.39	-0.79	-0.41	-0.21	-0.42	-0.42	-0.42	-0.3	-0.34	-0.51	-0.5	-0.32	-0.41	-0.26	-0.3	-0.21	-0.97

Click cells to compare fundamentals

Sphere 3D Account Relationship Matchups

Sphere 3D fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	8.4M	11.8M	275.9M	83.0M	49.9M	63.0M
Other Current Liab	973K	1.3M	297K	3.0M	3.0M	3.8M
Total Current Liabilities	6.6M	5.8M	5.2M	6.2M	5.3M	5.1M
Total Stockholder Equity	1.2M	5.0M	269.6M	34.6M	40.3M	37.2M
Net Debt	342K	2.0M	(54.4M)	(1.3M)	(586K)	(556.7K)
Retained Earnings	(191.6M)	(197.4M)	(215.2M)	(419.7M)	(447.4M)	(425.0M)
Cash	149K	461K	54.4M	1.3M	586K	556.7K
Cash And Short Term Investments	149K	461K	54.4M	1.3M	1.6M	1.5M
Common Stock Shares Outstanding	384.6K	840.7K	4.4M	9.5M	12.1M	12.7M
Liabilities And Stockholders Equity	8.4M	11.8M	275.9M	83.0M	49.9M	63.0M
Other Current Assets	345K	129K	52K	10.3M	11.9M	12.5M
Other Stockholder Equity	8.4M	11.8M	42.4M	(26.8M)	(12.7M)	(12.1M)
Total Liab	7.2M	6.8M	6.3M	48.5M	9.5M	9.1M
Total Current Assets	1.9M	2.1M	78.4M	10.3M	13.5M	16.8M
Other Liab	683K	520K	347K	1.1M	981K	1.4M
Net Tangible Assets	(10.3M)	(9.3M)	(10.8M)	164.3M	188.9M	198.3M
Property Plant And Equipment Net	2K	0.0	102.2M	34.3M	24.2M	16.1M
Accounts Payable	4.1M	2.0M	1.3M	3.0M	2.4M	3.9M
Non Current Assets Total	6.5M	9.7M	197.5M	72.7M	36.3M	61.7M
Non Currrent Assets Other	4K	3.7M	52K	18.6M	3.4M	2.9M
Other Assets	950K	677K	3.7M	114.5M	131.7M	138.3M
Net Receivables	1.1M	369K	264K	2.0M	4.0M	0.0
Non Current Liabilities Total	520K	1.0M	1.1M	42.3M	4.2M	4.0M
Inventory	753K	558K	22.0M	(5.3M)	(6.1M)	(5.8M)
Deferred Long Term Liab	683K	485K	56K	7K	6.3K	6.0K
Property Plant And Equipment Gross	2K	291K	102.2M	36.0M	30.1M	16.8M
Short Long Term Debt	44.8M	600K	491K	1.8M	1.6M	1.6M
Accumulated Other Comprehensive Income	(1.8M)	(1.8M)	(1.8M)	(1.8M)	(1.8M)	(1.9M)
Short Term Debt	600K	491K	1.8M	3.4M	3.1M	2.9M
Intangible Assets	2.3M	2.6M	63.0M	9.5M	4.6M	4.4M
Common Stock	186.2M	192.4M	444.3M	456.4M	475.7M	499.5M
Current Deferred Revenue	1.1M	657K	210K	160K	144K	136.8K
Short Long Term Debt Total	44.8M	600K	491K	2.5M	2.3M	2.1M

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 Sphere 3D 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, Sphere 3D's short interest history, or implied volatility extrapolated from Sphere 3D options trading.

Pair Trading with Sphere 3D

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 Sphere 3D 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 Sphere 3D will appreciate offsetting losses from the drop in the long position's value.

Moving together with Sphere Stock

0.94	U	Unity Software Aggressive Push	Pair Corr
0.67	DT	Dynatrace Holdings LLC Financial Report 15th of May 2024	Pair Corr

Moving against Sphere Stock

0.84	ML	MoneyLion Financial Report 14th of May 2024	Pair Corr
0.69	DOCU	DocuSign Financial Report 13th of June 2024	Pair Corr
0.44	DJCO	Daily Journal Corp	Pair Corr

The ability to find closely correlated positions to Sphere 3D could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sphere 3D 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 Sphere 3D - 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 Sphere 3D Corp to buy it.

The correlation of Sphere 3D 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 Sphere 3D moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sphere 3D Corp 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 Sphere 3D 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 Sphere 3D Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Sphere 3D's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Sphere 3d Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Sphere 3d Corp Stock:

How To Invest In Sphere

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Is Sphere Stock a good investment?

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What is Sphere 3D'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 Sphere 3D Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.

Complementary Tools for Sphere Stock analysis

When running Sphere 3D's price analysis, check to measure Sphere 3D'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 Sphere 3D is operating at the current time. Most of Sphere 3D's value examination focuses on studying past and present price action to predict the probability of Sphere 3D's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sphere 3D's price. Additionally, you may evaluate how the addition of Sphere 3D to your portfolios can decrease your overall portfolio volatility.

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Is Sphere 3D'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 Sphere 3D. If investors know Sphere 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 Sphere 3D listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.

Earnings Share

(1.93)

Revenue Per Share

1.806

Quarterly Revenue Growth

4.385

Return On Assets

(0.17)

Return On Equity

(0.42)

The market value of Sphere 3D Corp is measured differently than its book value, which is the value of Sphere that is recorded on the company's balance sheet. Investors also form their own opinion of Sphere 3D's value that differs from its market value or its book value, called intrinsic value, which is Sphere 3D'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 Sphere 3D's market value can be influenced by many factors that don't directly affect Sphere 3D'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 Sphere 3D's value and its price as these two are different measures arrived at by different means. Investors typically determine if Sphere 3D is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sphere 3D'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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Sphere Net Income vs Current Ratio Analysis

Net Income vs Current Ratio

Net Income vs Current Ratio Correlation Analysis

Correlation Coefficient

Net Income

Current Ratio

Sphere 3D fundamental ratios Correlations

Sphere 3D Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Sphere 3D fundamental ratios Accounts

Pair Trading with Sphere 3D

Moving together with Sphere Stock

Moving against Sphere Stock

Complementary Tools for Sphere Stock analysis

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Cash And Short Term Investments	+ 1.0	Cash
Non Current Assets Total	+ 0.99	Total Assets
Other Assets	+ 0.99	Net Tangible Assets
Total Current Assets	+ 0.98	Total Assets
Other Stockholder Equity	+ 0.95	Total Current Liabilities
Cash And Short Term Investments	+ 0.95	Total Stockholder Equity

Retained Earnings Total Equity	- 0.97	Common Stock Total Equity
Common Stock Shares Outstanding	- 0.9	Retained Earnings
Other Assets	- 0.85	Retained Earnings
Other Current Assets	- 0.83	Retained Earnings
Net Tangible Assets	- 0.8	Retained Earnings
Retained Earnings Total Equity	- 0.79	Short Term Investments