Cargojet Short Long Term Debt Total vs Common Stock Analysis
CJT Stock | CAD 120.32 1.79 1.47% |
Cargojet financial indicator trend analysis is way more than just evaluating Cargojet prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Cargojet is a good investment. Please check the relationship between Cargojet Short Long Term Debt Total and its Common Stock accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cargojet. 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.
Short Long Term Debt Total vs Common Stock
Short Long Term Debt Total vs Common Stock Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Cargojet Short Long Term Debt Total account and Common Stock. At this time, the significance of the direction appears to have very strong relationship.
The correlation between Cargojet's Short Long Term Debt Total and Common Stock is 0.8. Overlapping area represents the amount of variation of Short Long Term Debt Total that can explain the historical movement of Common Stock in the same time period over historical financial statements of Cargojet, assuming nothing else is changed. The correlation between historical values of Cargojet's Short Long Term Debt Total and Common Stock is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Short Long Term Debt Total of Cargojet are associated (or correlated) with its Common Stock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Common Stock has no effect on the direction of Short Long Term Debt Total i.e., Cargojet's Short Long Term Debt Total and Common Stock go up and down completely randomly.
Correlation Coefficient | 0.8 |
Relationship Direction | Positive |
Relationship Strength | Strong |
Short Long Term Debt Total
Common Stock
Most indicators from Cargojet's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Cargojet 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 Cargojet. 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. At this time, Cargojet's Tax Provision is very stable compared to the past year. As of the 9th of May 2024, Sales General And Administrative To Revenue is likely to grow to 0.12, while Selling General Administrative is likely to drop about 41.2 M.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 230.9M | 247.5M | 138.1M | 94.1M | Total Revenue | 757.8M | 979.9M | 877.5M | 921.4M |
Cargojet fundamental ratios Correlations
Click cells to compare fundamentals
Cargojet Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Cargojet fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 1.1B | 1.2B | 1.5B | 2.0B | 2.0B | 2.1B | |
Short Long Term Debt Total | 633.8M | 572.8M | 398.6M | 707M | 813.1M | 853.7M | |
Other Current Liab | 9.6M | 9.9M | 4.5M | 18.7M | 11.1M | 6.8M | |
Total Current Liabilities | 114.5M | 180.6M | 98.2M | 150.5M | 186.3M | 195.6M | |
Total Stockholder Equity | 276.2M | 175.2M | 676.4M | 831.5M | 784.5M | 823.7M | |
Property Plant And Equipment Net | 890.2M | 998.7M | 1.2B | 1.6B | 1.6B | 1.6B | |
Net Debt | 632.2M | 569.1M | 303.9M | 700.9M | 648.3M | 680.7M | |
Retained Earnings | (37.5M) | (140.2M) | 7.8M | 166.8M | 160.8M | 168.8M | |
Accounts Payable | 45.6M | 66.9M | 71.7M | 100.4M | 147M | 154.4M | |
Cash | 1.6M | 3.7M | 94.7M | 6.1M | 31.8M | 33.4M | |
Non Current Assets Total | 1.0B | 1.1B | 1.3B | 1.9B | 1.8B | 1.8B | |
Cash And Short Term Investments | 1.6M | 3.7M | 94.7M | 6.1M | 7.0M | 9.9M | |
Net Receivables | 51.4M | 41.4M | 75.3M | 95.7M | 119.1M | 125.1M | |
Common Stock Total Equity | 174.4M | 177.9M | 298.2M | 300M | 345M | 362.3M | |
Common Stock Shares Outstanding | 13.6M | 15.6M | 17.6M | 20.3M | 16.9M | 12.1M | |
Liabilities And Stockholders Equity | 1.1B | 1.2B | 1.5B | 2.0B | 2.3B | 2.4B | |
Non Current Liabilities Total | 707.6M | 868.1M | 715.2M | 1.0B | 1.1B | 1.1B | |
Inventory | 2.3M | 1.5M | 2.2M | 3.3M | 2.6M | 1.5M | |
Other Current Assets | 15.2M | 49.6M | 27.9M | 11M | 12.7M | 10.0M | |
Total Liab | 822.1M | 1.0B | 813.4M | 1.2B | 1.3B | 1.3B | |
Property Plant And Equipment Gross | 890.2M | 998.7M | 1.7B | 2.3B | 2.4B | 2.5B | |
Total Current Assets | 70.5M | 96.2M | 200.1M | 116.1M | 278.1M | 292.0M | |
Common Stock | 298.2M | 300M | 655.2M | 650.9M | 748.5M | 786.0M | |
Short Term Debt | 59.3M | 103.8M | 22M | 31.4M | 36.1M | 24.8M | |
Non Currrent Assets Other | 84.1M | 75.5M | 67M | 165.8M | 190.7M | 200.2M | |
Other Stockholder Equity | 2.4M | 2.3M | 300K | 700K | 630K | 598.5K | |
Other Liab | 133.1M | 399.1M | 338.6M | 328.7M | 378.0M | 396.9M | |
Net Tangible Assets | 225.9M | 124.9M | 626.1M | 781.2M | 898.4M | 943.3M | |
Other Assets | 10.6M | 87.3M | 78.7M | 70.1M | 11.7M | 11.1M | |
Long Term Debt | 437.5M | 377.8M | 307.2M | 618M | 680.1M | 357.1M | |
Property Plant Equipment | 890.2M | 998.7M | 1.2B | 1.6B | 1.9B | 2.0B | |
Long Term Debt Total | 574.5M | 469M | 376.6M | 675.6M | 776.9M | 502.7M | |
Capital Lease Obligations | 196.3M | 195M | 91.4M | 89M | 119.1M | 118.2M | |
Net Invested Capital | 713.7M | 553M | 983.6M | 1.4B | 1.5B | 961.9M | |
Net Working Capital | (44M) | (84.4M) | 101.9M | (34.4M) | 91.8M | 96.4M | |
Capital Stock | 298.2M | 300M | 655.2M | 650.9M | 609.8M | 493.5M |
Pair Trading with Cargojet
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 Cargojet 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 Cargojet will appreciate offsetting losses from the drop in the long position's value.Moving together with Cargojet Stock
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Moving against Cargojet Stock
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The ability to find closely correlated positions to Cargojet could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cargojet 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 Cargojet - 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 Cargojet to buy it.
The correlation of Cargojet 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 Cargojet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cargojet 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 Cargojet 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 Cargojet. 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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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