Canadian Cost Of Revenue vs Income Before Tax Analysis
CNQ Stock | USD 78.20 0.23 0.29% |
Canadian Natural financial indicator trend analysis is way more than just evaluating Canadian Natural Res prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canadian Natural Res is a good investment. Please check the relationship between Canadian Natural Cost Of Revenue and its Income Before Tax accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Natural Resources. 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.
Cost Of Revenue vs Income Before Tax
Cost Of Revenue vs Income Before Tax Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canadian Natural Res Cost Of Revenue account and Income Before Tax. At this time, the significance of the direction appears to have very strong relationship.
The correlation between Canadian Natural's Cost Of Revenue and Income Before Tax is 0.82. Overlapping area represents the amount of variation of Cost Of Revenue that can explain the historical movement of Income Before Tax in the same time period over historical financial statements of Canadian Natural Resources, assuming nothing else is changed. The correlation between historical values of Canadian Natural's Cost Of Revenue and Income Before Tax is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cost Of Revenue of Canadian Natural Resources are associated (or correlated) with its Income Before Tax. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Income Before Tax has no effect on the direction of Cost Of Revenue i.e., Canadian Natural's Cost Of Revenue and Income Before Tax go up and down completely randomly.
Correlation Coefficient | 0.82 |
Relationship Direction | Positive |
Relationship Strength | Strong |
Cost Of Revenue
Cost of Revenue is found on Canadian Natural Res income statement and represents the costs associated with goods and services Canadian Natural provides. Indirect cost, such as salaries, is not included. In other words, cost of revenue is the total cost incurred to obtain a sale. It is more than the traditional cost of goods sold, since it includes specific selling and marketing activities.Income Before Tax
Income Before Tax which can also be referred as pre-tax income is reported on Canadian Natural income statement and is an important metric when analyzing Canadian Natural Res profitability. Accounting techniques because taxes can be complex, and not perfectly consistent from one company to company, an analyst may use pre-tax income as a more stable measure of profitability.Most indicators from Canadian Natural's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Canadian Natural Res 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 Canadian Natural Resources. 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, Canadian Natural's Selling General Administrative is relatively stable compared to the past year. As of 04/30/2024, Sales General And Administrative To Revenue is likely to grow to 0.03, while Enterprise Value Multiple is likely to drop 5.85.
2021 | 2022 | 2023 | 2024 (projected) | Interest Expense | 711M | 549M | 636M | 333.6M | Depreciation And Amortization | 5.7B | 7.4B | 6.8B | 7.1B |
Canadian Natural fundamental ratios Correlations
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Canadian Natural Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Canadian Natural fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 78.1B | 75.3B | 76.7B | 76.1B | 76.0B | 40.8B | |
Short Long Term Debt Total | 21.0B | 21.5B | 14.7B | 11.4B | 12.4B | 9.9B | |
Total Current Liabilities | 6.6B | 5.1B | 7.4B | 8.7B | 7.4B | 7.8B | |
Total Stockholder Equity | 35.0B | 32.4B | 36.9B | 38.2B | 39.8B | 41.8B | |
Property Plant And Equipment Net | 72.4B | 69.8B | 70.2B | 68.5B | 66.0B | 37.6B | |
Net Debt | 20.8B | 21.3B | 14.0B | 10.5B | 11.5B | 9.7B | |
Retained Earnings | 25.4B | 22.8B | 26.8B | 27.7B | 28.9B | 30.4B | |
Accounts Payable | 816M | 667M | 803M | 1.3B | 1.4B | 1.5B | |
Non Current Assets Total | 73.6B | 70.9B | 70.7B | 69.1B | 68.8B | 38.1B | |
Non Currrent Assets Other | 1.2B | 951M | 430M | 547M | 2.7B | 2.9B | |
Net Receivables | 2.5B | 2.5B | 3.1B | 3.6B | 3.2B | 3.3B | |
Common Stock Shares Outstanding | 1.2B | 1.2B | 1.2B | 1.1B | 1.1B | 1.3B | |
Liabilities And Stockholders Equity | 78.1B | 75.3B | 76.7B | 76.1B | 76.0B | 40.8B | |
Non Current Liabilities Total | 36.5B | 37.8B | 32.3B | 29.3B | 28.7B | 18.6B | |
Total Liab | 43.1B | 42.9B | 39.7B | 38.0B | 36.1B | 22.2B | |
Property Plant And Equipment Gross | 72.4B | 69.8B | 140.8B | 146.1B | 150.6B | 158.1B | |
Total Current Assets | 4.5B | 4.4B | 5.9B | 7.1B | 7.2B | 7.5B | |
Accumulated Other Comprehensive Income | 34M | 8M | (1M) | 209M | 172M | 180.6M | |
Inventory | 1.2B | 1.1B | 1.5B | 1.8B | 2.0B | 2.1B | |
Other Current Assets | 54M | 82M | 35M | 61M | 542M | 569.1M | |
Cash | 139M | 184M | 744M | 920M | 877M | 920.9M | |
Cash And Short Term Investments | 629M | 489M | 1.1B | 1.4B | 1.4B | 1.5B | |
Other Current Liab | 819M | 722M | 948M | 6.9B | 4.7B | 5.0B | |
Other Liab | 16.3B | 16.2B | 17.2B | 17.0B | 19.5B | 20.5B | |
Net Tangible Assets | 35.0B | 32.4B | 36.9B | 38.2B | 43.9B | 46.1B | |
Other Assets | 1.2B | 1.1B | 565M | 553M | 636.0M | 425.8M | |
Long Term Debt | 18.6B | 20.1B | 13.7B | 11.0B | 9.8B | 11.0B | |
Common Stock Total Equity | 9.1B | 9.3B | 9.5B | 9.6B | 11.0B | 11.6B | |
Short Term Investments | 490M | 305M | 309M | 491M | 525M | 272.4M | |
Short Long Term Debt | 2.4B | 1.3B | 1B | 404M | 980M | 967.5M | |
Short Term Debt | 2.4B | 1.3B | 1B | 404M | 1.3B | 860.4M | |
Common Stock | 9.5B | 9.6B | 10.2B | 10.3B | 10.7B | 11.2B | |
Property Plant Equipment | 72.4B | 69.8B | 70.2B | 68.5B | 78.8B | 44.5B | |
Current Deferred Revenue | 151M | 2.6B | 2.3B | 4.7B | 5.4B | 5.6B | |
Long Term Debt Total | 20.4B | 21.6B | 15.1B | 12.3B | 14.2B | 18.4B | |
Capital Lease Obligations | 2.0B | 1.9B | 1.6B | 1.5B | 1.8B | 1.9B | |
Non Current Liabilities Other | 7.4B | 5.9B | 7.0B | 8.2B | 8.7B | 5.3B | |
Cash And Equivalents | 139M | 184M | 744M | 920M | 1.1B | 1.1B | |
Net Invested Capital | 56.0B | 53.8B | 51.6B | 49.6B | 50.6B | 42.1B |
Pair Trading with Canadian Natural
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 Canadian Natural 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 Canadian Natural will appreciate offsetting losses from the drop in the long position's value.Moving together with Canadian Stock
0.93 | AR | Antero Resources Corp | PairCorr |
0.97 | PR | Permian Resources Financial Report 13th of May 2024 | PairCorr |
0.96 | SD | SandRidge Energy | PairCorr |
0.98 | SM | SM Energy | PairCorr |
Moving against Canadian Stock
0.68 | EP | Empire Petroleum Corp | PairCorr |
The ability to find closely correlated positions to Canadian Natural could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Natural 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 Canadian Natural - 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 Canadian Natural Resources to buy it.
The correlation of Canadian Natural 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 Canadian Natural moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Natural Res 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 Canadian Natural 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 Canadian Natural Resources. 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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When running Canadian Natural's price analysis, check to measure Canadian Natural'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 Canadian Natural is operating at the current time. Most of Canadian Natural's value examination focuses on studying past and present price action to predict the probability of Canadian Natural's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canadian Natural's price. Additionally, you may evaluate how the addition of Canadian Natural to your portfolios can decrease your overall portfolio volatility.
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Is Canadian Natural'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 Canadian Natural. If investors know Canadian 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 Canadian Natural 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 0.765 | Dividend Share 3.7 | Earnings Share 5.45 | Revenue Per Share 32.958 | Quarterly Revenue Growth (0.01) |
The market value of Canadian Natural Res is measured differently than its book value, which is the value of Canadian that is recorded on the company's balance sheet. Investors also form their own opinion of Canadian Natural's value that differs from its market value or its book value, called intrinsic value, which is Canadian Natural'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 Canadian Natural's market value can be influenced by many factors that don't directly affect Canadian Natural'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 Canadian Natural's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canadian Natural is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canadian Natural'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.