Quest Income Before Tax vs Net Income From Continuing Ops Analysis
DGX Stock | USD 134.26 1.16 0.86% |
Quest Diagnostics financial indicator trend analysis is much more than just breaking down Quest Diagnostics prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Quest Diagnostics is a good investment. Please check the relationship between Quest Diagnostics Income Before Tax and its Net Income From Continuing Ops accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Quest Diagnostics Incorporated. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in price.
Income Before Tax vs Net Income From Continuing Ops
Income Before Tax vs Net Income From Continuing Ops Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Quest Diagnostics Income Before Tax account and Net Income From Continuing Ops. At this time, the significance of the direction appears to have strong relationship.
The correlation between Quest Diagnostics' Income Before Tax and Net Income From Continuing Ops is 0.72. Overlapping area represents the amount of variation of Income Before Tax that can explain the historical movement of Net Income From Continuing Ops in the same time period over historical financial statements of Quest Diagnostics Incorporated, assuming nothing else is changed. The correlation between historical values of Quest Diagnostics' Income Before Tax and Net Income From Continuing Ops is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Income Before Tax of Quest Diagnostics Incorporated are associated (or correlated) with its Net Income From Continuing Ops. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Income From Continuing Ops has no effect on the direction of Income Before Tax i.e., Quest Diagnostics' Income Before Tax and Net Income From Continuing Ops go up and down completely randomly.
Correlation Coefficient | 0.72 |
Relationship Direction | Positive |
Relationship Strength | Significant |
Income Before Tax
Income Before Tax which can also be referred as pre-tax income is reported on Quest Diagnostics income statement and is an important metric when analyzing Quest Diagnostics 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.Net Income From Continuing Ops
Most indicators from Quest Diagnostics' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Quest Diagnostics 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 Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Quest Diagnostics Incorporated. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in price. At this time, Quest Diagnostics' Discontinued Operations is fairly stable compared to the past year. Tax Provision is likely to rise to about 266.4 M in 2024, whereas Selling General Administrative is likely to drop slightly above 1.5 B in 2024.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 4.2B | 3.4B | 3.1B | 2.7B | Total Revenue | 10.8B | 9.9B | 9.3B | 6.9B |
Quest Diagnostics fundamental ratios Correlations
Click cells to compare fundamentals
Quest Diagnostics Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Quest Diagnostics fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 12.8B | 14.0B | 13.6B | 12.8B | 14.0B | 8.5B | |
Short Long Term Debt Total | 5.3B | 4.7B | 4.7B | 4.6B | 5.4B | 3.1B | |
Other Current Liab | 778M | 1.2B | 1.2B | 1.1B | 1.5B | 1.6B | |
Total Current Liabilities | 2.0B | 1.8B | 1.8B | 1.6B | 1.8B | 1.2B | |
Total Stockholder Equity | 5.6B | 6.8B | 6.4B | 5.9B | 6.3B | 3.9B | |
Property Plant And Equipment Net | 2.0B | 2.2B | 2.3B | 2.4B | 2.4B | 2.5B | |
Net Debt | 4.1B | 3.5B | 3.8B | 4.3B | 4.7B | 2.7B | |
Retained Earnings | 8.2B | 9.3B | 7.6B | 8.3B | 8.8B | 9.3B | |
Accounts Payable | 263M | 446M | 357M | 324M | 1.4B | 1.4B | |
Cash | 1.2B | 1.2B | 872M | 315M | 686M | 720.3M | |
Non Current Assets Total | 10.4B | 11.0B | 10.9B | 10.9B | 11.7B | 6.9B | |
Non Currrent Assets Other | 160M | 176M | 163M | 144M | 198M | 177.5M | |
Cash And Short Term Investments | 1.2B | 1.2B | 872M | 315M | 686M | 720.3M | |
Net Receivables | 1.1B | 1.5B | 1.4B | 1.2B | 1.2B | 892.3M | |
Liabilities And Stockholders Equity | 12.8B | 14.0B | 13.6B | 12.8B | 14.0B | 8.5B | |
Non Current Liabilities Total | 5.1B | 5.4B | 5.3B | 5.3B | 5.8B | 3.3B | |
Inventory | 123M | 223M | 208M | 192M | 190M | 104.0M | |
Other Current Assets | 112M | 157M | 223M | 196M | 286M | 227.8M | |
Other Stockholder Equity | (2.5B) | (2.5B) | (1.2B) | (2.4B) | (2.5B) | (2.4B) | |
Total Liab | 7.1B | 7.1B | 7.0B | 6.8B | 7.6B | 4.6B | |
Property Plant And Equipment Gross | 2.0B | 2.2B | 2.3B | 2.4B | 5.8B | 6.1B | |
Total Current Assets | 2.5B | 3.1B | 2.7B | 1.9B | 2.4B | 1.6B | |
Accumulated Other Comprehensive Income | (59M) | (39M) | (21M) | (14M) | 14M | 14.7M | |
Short Term Debt | 949M | 143M | 153M | 155M | 456M | 241.5M | |
Intangible Assets | 1.2B | 1.1B | 1.2B | 1.1B | 1.2B | 968.0M | |
Other Liab | 683M | 847M | 792M | 812M | 933.8M | 472.6M | |
Other Assets | 64M | 1.3B | 163M | 144M | 165.6M | 196.9M | |
Long Term Debt | 4.0B | 4.0B | 4.0B | 4.0B | 4.4B | 3.0B | |
Property Plant Equipment | 1.5B | 1.6B | 2.3B | 2.4B | 2.7B | 2.8B | |
Good Will | 6.6B | 6.9B | 7.1B | 7.2B | 7.7B | 5.7B | |
Treasury Stock | (5.2B) | (5.4B) | (3.5B) | (4.7B) | (4.2B) | (4.4B) | |
Net Tangible Assets | (1.6B) | (700M) | (1.8B) | (1.9B) | (2.1B) | (2.2B) | |
Noncontrolling Interest In Consolidated Entity | 46M | 50M | 39M | 37M | 42.6M | 34.3M | |
Retained Earnings Total Equity | 8.2B | 9.3B | 7.6B | 8.3B | 9.5B | 6.6B |
Quest Diagnostics Investors Sentiment
The influence of Quest Diagnostics' investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Quest. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Quest Diagnostics' public news can be used to forecast risks associated with an investment in Quest. The trend in average sentiment can be used to explain how an investor holding Quest can time the market purely based on public headlines and social activities around Quest Diagnostics Incorporated. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Quest Diagnostics' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Quest Diagnostics' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Quest Diagnostics' news discussions. The higher the estimated score, the more favorable is the investor's outlook on Quest Diagnostics.
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 Quest Diagnostics 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, Quest Diagnostics' short interest history, or implied volatility extrapolated from Quest Diagnostics options trading.
Pair Trading with Quest Diagnostics
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 Quest Diagnostics 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 Quest Diagnostics will appreciate offsetting losses from the drop in the long position's value.Moving against Quest Stock
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0.51 | TFX | Teleflex Incorporated Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Quest Diagnostics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Quest Diagnostics 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 Quest Diagnostics - 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 Quest Diagnostics Incorporated to buy it.
The correlation of Quest Diagnostics 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 Quest Diagnostics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Quest Diagnostics 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 Quest Diagnostics 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 Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Quest Diagnostics Incorporated. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in price. Note that the Quest Diagnostics information on this page should be used as a complementary analysis to other Quest Diagnostics' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Complementary Tools for Quest Stock analysis
When running Quest Diagnostics' price analysis, check to measure Quest Diagnostics' 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 Quest Diagnostics is operating at the current time. Most of Quest Diagnostics' value examination focuses on studying past and present price action to predict the probability of Quest Diagnostics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Quest Diagnostics' price. Additionally, you may evaluate how the addition of Quest Diagnostics to your portfolios can decrease your overall portfolio volatility.
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Is Quest Diagnostics' 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 Quest Diagnostics. If investors know Quest 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 Quest Diagnostics 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 (0.03) | Dividend Share 2.88 | Earnings Share 7.42 | Revenue Per Share 83.105 | Quarterly Revenue Growth 0.015 |
The market value of Quest Diagnostics is measured differently than its book value, which is the value of Quest that is recorded on the company's balance sheet. Investors also form their own opinion of Quest Diagnostics' value that differs from its market value or its book value, called intrinsic value, which is Quest Diagnostics' 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 Quest Diagnostics' market value can be influenced by many factors that don't directly affect Quest Diagnostics' 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 Quest Diagnostics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Quest Diagnostics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Quest Diagnostics' 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.