Edesa Gross Profit vs Net Income Analysis

EDSA Stock  USD 4.45  0.33  8.01%   
Edesa Biotech financial indicator trend analysis is much more than just examining Edesa Biotech latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Edesa Biotech is a good investment. Please check the relationship between Edesa Biotech Gross Profit and its Net Income accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Edesa Biotech. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state.
For information on how to trade Edesa Stock refer to our How to Trade Edesa Stock guide.

Gross Profit vs Net Income

Gross Profit vs Net Income Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Edesa Biotech Gross Profit account and Net Income. At this time, the significance of the direction appears to have weak relationship.
The correlation between Edesa Biotech's Gross Profit and Net Income is 0.39. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Net Income in the same time period over historical financial statements of Edesa Biotech, assuming nothing else is changed. The correlation between historical values of Edesa Biotech's Gross Profit and Net Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Gross Profit of Edesa Biotech are associated (or correlated) with its Net Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Income has no effect on the direction of Gross Profit i.e., Edesa Biotech's Gross Profit and Net Income go up and down completely randomly.

Correlation Coefficient

0.39
Relationship DirectionPositive 
Relationship StrengthVery Weak

Gross Profit

Gross profit is a required income statement account that reflects total revenue of Edesa Biotech minus its cost of goods sold. It is profit before Edesa Biotech operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in Edesa Biotech financial statement analysis. It represents the amount of money remaining after all of Edesa Biotech operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.
Most indicators from Edesa Biotech's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Edesa Biotech 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 Edesa Biotech. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state.
For information on how to trade Edesa Stock refer to our How to Trade Edesa Stock guide.The current year's Issuance Of Capital Stock is expected to grow to about 8.3 M, whereas Selling General Administrative is forecasted to decline to about 3.6 M.
 2021 2022 2023 2024 (projected)
Cost Of Revenue118.2K183.5K165.1K156.9K
Research Development13.3M4.8M5.5M4.3M

Edesa Biotech fundamental ratios Correlations

0.370.350.75-0.8-0.590.810.410.230.890.20.410.130.260.970.210.320.24-0.370.190.730.44-0.140.60.450.14
0.370.99-0.2-0.41-0.280.440.260.220.290.250.160.460.80.33-0.290.13-0.280.080.62-0.1-0.25-0.20.020.05-0.17
0.350.99-0.21-0.4-0.240.430.250.230.270.260.170.440.790.31-0.330.13-0.320.070.6-0.09-0.3-0.21-0.020.09-0.11
0.75-0.2-0.21-0.34-0.570.360.440.280.580.250.470.02-0.440.690.320.390.35-0.58-0.480.860.56-0.240.750.660.19
-0.8-0.41-0.4-0.340.28-0.99-0.14-0.08-0.82-0.04-0.28-0.02-0.59-0.830.0-0.140.00.1-0.59-0.45-0.17-0.02-0.19-0.04-0.16
-0.59-0.28-0.24-0.570.28-0.32-0.49-0.24-0.53-0.43-0.16-0.630.02-0.53-0.36-0.02-0.410.560.17-0.54-0.570.32-0.93-0.380.49
0.810.440.430.36-0.99-0.320.210.150.810.120.290.090.590.83-0.040.15-0.04-0.150.570.470.15-0.040.230.080.15
0.410.260.250.44-0.14-0.490.210.920.050.880.570.59-0.090.21-0.360.47-0.33-0.75-0.270.39-0.15-0.810.450.640.17
0.230.220.230.28-0.08-0.240.150.92-0.140.950.610.52-0.090.04-0.660.53-0.63-0.71-0.270.29-0.45-0.890.20.630.32
0.890.290.270.58-0.82-0.530.810.05-0.14-0.120.11-0.010.370.960.45-0.050.45-0.10.360.620.640.250.510.16-0.05
0.20.250.260.25-0.04-0.430.120.880.95-0.120.50.72-0.10.02-0.590.42-0.56-0.72-0.30.27-0.36-0.910.350.580.06
0.410.160.170.47-0.28-0.160.290.570.610.110.50.15-0.130.28-0.40.5-0.38-0.62-0.250.41-0.23-0.60.160.590.34
0.130.460.440.02-0.02-0.630.090.590.52-0.010.720.150.140.03-0.250.09-0.22-0.37-0.06-0.05-0.13-0.610.440.15-0.51
0.260.80.79-0.44-0.590.020.59-0.09-0.090.37-0.1-0.130.140.31-0.18-0.13-0.190.350.96-0.27-0.210.17-0.28-0.35-0.08
0.970.330.310.69-0.83-0.530.830.210.040.960.020.280.030.310.310.220.33-0.210.270.670.530.050.530.310.09
0.21-0.29-0.330.320.0-0.36-0.04-0.36-0.660.45-0.59-0.4-0.25-0.180.31-0.421.00.1-0.070.240.910.610.46-0.13-0.33
0.320.130.130.39-0.14-0.020.150.470.53-0.050.420.50.09-0.130.22-0.42-0.4-0.28-0.220.13-0.32-0.660.090.360.42
0.24-0.28-0.320.350.0-0.41-0.04-0.33-0.630.45-0.56-0.38-0.22-0.190.331.0-0.40.06-0.090.260.920.580.5-0.11-0.34
-0.370.080.07-0.580.10.56-0.15-0.75-0.71-0.1-0.72-0.62-0.370.35-0.210.1-0.280.060.47-0.61-0.070.72-0.57-0.76-0.2
0.190.620.6-0.48-0.590.170.57-0.27-0.270.36-0.3-0.25-0.060.960.27-0.07-0.22-0.090.47-0.32-0.150.35-0.37-0.5-0.04
0.73-0.1-0.090.86-0.45-0.540.470.390.290.620.270.41-0.05-0.270.670.240.130.26-0.61-0.320.49-0.150.660.710.29
0.44-0.25-0.30.56-0.17-0.570.15-0.15-0.450.64-0.36-0.23-0.13-0.210.530.91-0.320.92-0.07-0.150.490.460.670.02-0.35
-0.14-0.2-0.21-0.24-0.020.32-0.04-0.81-0.890.25-0.91-0.6-0.610.170.050.61-0.660.580.720.35-0.150.46-0.25-0.55-0.17
0.60.02-0.020.75-0.19-0.930.230.450.20.510.350.160.44-0.280.530.460.090.5-0.57-0.370.660.67-0.250.46-0.4
0.450.050.090.66-0.04-0.380.080.640.630.160.580.590.15-0.350.31-0.130.36-0.11-0.76-0.50.710.02-0.550.460.42
0.14-0.17-0.110.19-0.160.490.150.170.32-0.050.060.34-0.51-0.080.09-0.330.42-0.34-0.2-0.040.29-0.35-0.17-0.40.42
Click cells to compare fundamentals

Edesa Biotech Account Relationship Matchups

Edesa Biotech fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets10.8M14.6M11.6M8.9M10.2M8.7M
Other Current Liab1.5M1.4M2.1M1.7M2.0M1.2M
Total Current Liabilities1.5M1.5M2.1M1.8M2.1M1.3M
Total Stockholder Equity6.6M13.1M9.4M7.0M8.1M6.4M
Net Debt(7.0M)(7.7M)(7.1M)(5.3M)(4.7M)(5.0M)
Retained Earnings(13.1M)(26.5M)(44.0M)(52.4M)(47.2M)(44.8M)
Cash7.2M7.8M7.1M5.4M6.2M5.6M
Non Current Assets Total2.7M2.5M2.5M2.5M2.8M3.0M
Cash And Short Term Investments7.2M7.8M7.1M5.4M6.2M6.8M
Common Stock Shares Outstanding8.6M12.1M16.7M20.0M23.0M24.2M
Liabilities And Stockholders Equity10.8M14.6M11.6M8.9M10.2M8.7M
Other Current Assets890.3K948.6K2.0M448.9K516.2K429.9K
Other Stockholder Equity1.3M4.7M11.2M13.0M15.0M15.7M
Total Liab4.1M1.5M2.2M1.8M2.1M2.3M
Total Current Assets8.1M12.1M9.1M6.4M7.4M7.6M
Property Plant And Equipment Net174.8K111.6K31.2K100.1K90.1K85.6K
Net Receivables87.4K3.3M1.3M626.5K720.5K521.2K
Property Plant And Equipment Gross174.8K145.4K70.7K143.9K129.5K123.1K
Accumulated Other Comprehensive Income(287.2K)(205.3K)(213.6K)(214.6K)(193.2K)(202.8K)
Non Current Liabilities Total2.6M67.7K43.7K19.8K17.8K16.9K
Inventory224.3K(217.1K)(87.4K)(1.3M)(1.1M)(1.1M)
Common Stock18.5M34.9M42.5M46.6M53.6M39.4M
Property Plant Equipment73.1K174.8K111.6K31.2K28.0K26.6K
Net Tangible Assets5.3M4.1M10.7M7.1M8.2M4.3M
Accounts Payable424.6K1.5M1.4M2.1M2.4M2.6M
Net Invested Capital6.6M13.1M9.4M7.0M8.1M9.4M
Net Working Capital6.6M10.6M7.0M4.6M4.2M5.8M
Capital Stock18.5M34.9M42.5M46.6M53.6M38.7M
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 Edesa Biotech 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, Edesa Biotech's short interest history, or implied volatility extrapolated from Edesa Biotech options trading.

Pair Trading with Edesa Biotech

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 Edesa Biotech 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 Edesa Biotech will appreciate offsetting losses from the drop in the long position's value.

Moving against Edesa Stock

  0.65YS YS Biopharma Report 22nd of April 2024 PairCorr
  0.41MDGL Madrigal Pharmaceuticals Financial Report 14th of May 2024 PairCorr
  0.41MDWD Mediwound Financial Report 4th of June 2024 PairCorr
The ability to find closely correlated positions to Edesa Biotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Edesa Biotech 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 Edesa Biotech - 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 Edesa Biotech to buy it.
The correlation of Edesa Biotech 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 Edesa Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Edesa Biotech 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 Edesa Biotech 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 CorrelationCorrelation Matching
When determining whether Edesa Biotech offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Edesa Biotech'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 Edesa Biotech Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Edesa Biotech Stock:
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Edesa Biotech. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state.
For information on how to trade Edesa Stock refer to our How to Trade Edesa Stock guide.
You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.

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Is Edesa Biotech'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 Edesa Biotech. If investors know Edesa 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 Edesa Biotech listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share
(20.16)
Quarterly Revenue Growth
(1.00)
Return On Assets
(0.56)
Return On Equity
(0.96)
The market value of Edesa Biotech is measured differently than its book value, which is the value of Edesa that is recorded on the company's balance sheet. Investors also form their own opinion of Edesa Biotech's value that differs from its market value or its book value, called intrinsic value, which is Edesa Biotech'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 Edesa Biotech's market value can be influenced by many factors that don't directly affect Edesa Biotech'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 Edesa Biotech's value and its price as these two are different measures arrived at by different means. Investors typically determine if Edesa Biotech is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Edesa Biotech'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.