ESSA Income Before Tax vs Interest Expense Analysis

EPIX Stock

USD 6.08 0.04 0.65%

ESSA Pharma financial indicator trend analysis is much more than just examining ESSA Pharma latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether ESSA Pharma is a good investment. Please check the relationship between ESSA Pharma Income Before Tax and its Interest Expense accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ESSA Pharma. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product.

For more information on how to buy ESSA Stock please use our How to Invest in ESSA Pharma guide.

Income Before Tax vs Interest Expense

Income Before Tax vs Interest Expense Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of ESSA Pharma Income Before Tax account and Interest Expense. At this time, the significance of the direction appears to have almost no relationship.

The correlation between ESSA Pharma's Income Before Tax and Interest Expense is 0.15. Overlapping area represents the amount of variation of Income Before Tax that can explain the historical movement of Interest Expense in the same time period over historical financial statements of ESSA Pharma, assuming nothing else is changed. The correlation between historical values of ESSA Pharma's Income Before Tax and Interest Expense 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 ESSA Pharma are associated (or correlated) with its Interest Expense. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Interest Expense has no effect on the direction of Income Before Tax i.e., ESSA Pharma's Income Before Tax and Interest Expense go up and down completely randomly.

Correlation Coefficient

0.15

Relationship Direction	Positive
Relationship Strength	Insignificant

View All Relationships

Income Before Tax

Income Before Tax which can also be referred as pre-tax income is reported on ESSA Pharma income statement and is an important metric when analyzing ESSA Pharma 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.

Interest Expense

The cost incurred by an entity for borrowed funds, including loans, bonds, or lines of credit.

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

For more information on how to buy ESSA Stock please use our How to Invest in ESSA Pharma guide.Enterprise Value is likely to rise to about 97 M in 2024, whereas Selling General Administrative is likely to drop slightly above 7.6 M in 2024.

ESSA Pharma fundamental ratios Correlations

	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Net Tangible Assets	Retained Earnings	Accounts Payable	Cash	Other Assets	Long Term Debt	Net Receivables	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Intangible Assets	Common Stock	Property Plant Equipment	Property Plant And Equipment Net	Net Debt	Non Current Assets Total	Cash And Short Term Investments	Common Stock Shares Outstanding	Property Plant And Equipment Gross
Total Assets		0.45	0.38	1.0	-0.29	1.0	-0.95	0.28	0.77	0.82	0.59	-0.15	0.95	0.08	0.85	-0.09	1.0	-0.67	0.99	0.63	0.61	-0.74	-0.06	0.93	0.97	0.57
Other Current Liab	0.45		0.34	0.45	-0.09	0.44	-0.35	0.29	0.37	0.5	-0.01	0.65	0.47	-0.18	0.4	-0.12	0.44	-0.28	0.41	0.36	0.61	-0.36	0.32	0.44	0.39	0.66
Total Current Liabilities	0.38	0.34		0.35	0.15	0.36	-0.44	0.68	0.4	0.38	0.58	0.14	0.33	-0.18	0.37	0.69	0.39	-0.78	0.38	0.58	0.45	-0.33	0.09	0.44	0.32	0.35
Total Stockholder Equity	1.0	0.45	0.35		-0.31	1.0	-0.94	0.25	0.77	0.82	0.57	-0.15	0.95	0.09	0.84	-0.13	1.0	-0.65	0.98	0.62	0.6	-0.74	-0.07	0.93	0.98	0.55
Other Liab	-0.29	-0.09	0.15	-0.31		-0.31	0.25	0.63	-0.23	-0.22	-0.4	0.0	-0.26	-0.06	-0.03	0.57	-0.29	0.02	-0.28	-0.07	0.09	0.22	0.06	-0.27	-0.3	0.13
Net Tangible Assets	1.0	0.44	0.36	1.0	-0.31		-0.95	0.27	0.72	0.83	0.57	-0.15	0.96	0.07	0.86	-0.13	1.0	-0.64	0.99	0.59	0.55	-0.69	-0.09	0.94	0.99	0.52
Retained Earnings	-0.95	-0.35	-0.44	-0.94	0.25	-0.95		-0.37	-0.6	-0.72	-0.67	0.18	-0.92	-0.09	-0.89	-0.01	-0.95	0.75	-0.97	-0.58	-0.46	0.56	0.14	-0.87	-0.97	-0.41
Accounts Payable	0.28	0.29	0.68	0.25	0.63	0.27	-0.37		0.15	0.29	0.23	0.21	0.27	0.01	0.55	0.67	0.28	-0.6	0.31	0.5	0.42	-0.11	-0.02	0.32	0.28	0.41
Cash	0.77	0.37	0.4	0.77	-0.23	0.72	-0.6	0.15		0.67	0.48	-0.09	0.58	0.27	0.46	0.0	0.77	-0.61	0.67	0.77	0.72	-1.0	0.02	0.72	0.62	0.62
Other Assets	0.82	0.5	0.38	0.82	-0.22	0.83	-0.72	0.29	0.67		0.42	-0.09	0.84	-0.13	0.7	-0.03	0.82	-0.45	0.81	0.43	0.56	-0.64	0.13	0.95	0.78	0.56
Long Term Debt	0.59	-0.01	0.58	0.57	-0.4	0.57	-0.67	0.23	0.48	0.42		-0.24	0.5	0.21	0.59	0.39	0.59	-0.8	0.61	0.51	0.33	-0.42	-0.03	0.55	0.59	0.21
Net Receivables	-0.15	0.65	0.14	-0.15	0.0	-0.15	0.18	0.21	-0.09	-0.09	-0.24		-0.16	0.02	-0.07	-0.04	-0.15	-0.05	-0.16	0.18	0.31	0.08	0.15	-0.14	-0.18	0.29
Inventory	0.95	0.47	0.33	0.95	-0.26	0.96	-0.92	0.27	0.58	0.84	0.5	-0.16		-0.16	0.87	-0.1	0.95	-0.54	0.97	0.4	0.54	-0.55	0.09	0.9	0.96	0.56
Other Current Assets	0.08	-0.18	-0.18	0.09	-0.06	0.07	-0.09	0.01	0.27	-0.13	0.21	0.02	-0.16		0.14	-0.14	0.08	-0.29	0.06	0.49	-0.02	-0.28	-0.63	0.02	0.08	-0.15
Other Stockholder Equity	0.85	0.4	0.37	0.84	-0.03	0.86	-0.89	0.55	0.46	0.7	0.59	-0.07	0.87	0.14		0.13	0.85	-0.68	0.9	0.52	0.53	-0.42	-0.05	0.8	0.9	0.53
Total Liab	-0.09	-0.12	0.69	-0.13	0.57	-0.13	-0.01	0.67	0.0	-0.03	0.39	-0.04	-0.1	-0.14	0.13		-0.09	-0.49	-0.07	0.14	0.29	0.05	0.3	-0.05	-0.13	0.23
Total Current Assets	1.0	0.44	0.39	1.0	-0.29	1.0	-0.95	0.28	0.77	0.82	0.59	-0.15	0.95	0.08	0.85	-0.09		-0.67	0.99	0.63	0.61	-0.74	-0.06	0.93	0.97	0.57
Intangible Assets	-0.67	-0.28	-0.78	-0.65	0.02	-0.64	0.75	-0.6	-0.61	-0.45	-0.8	-0.05	-0.54	-0.29	-0.68	-0.49	-0.67		-0.67	-0.77	-0.54	0.55	0.14	-0.6	-0.64	-0.4
Common Stock	0.99	0.41	0.38	0.98	-0.28	0.99	-0.97	0.31	0.67	0.81	0.61	-0.16	0.97	0.06	0.9	-0.07	0.99	-0.67		0.57	0.53	-0.63	-0.09	0.93	1.0	0.5
Property Plant Equipment	0.63	0.36	0.58	0.62	-0.07	0.59	-0.58	0.5	0.77	0.43	0.51	0.18	0.4	0.49	0.52	0.14	0.63	-0.77	0.57		0.55	-0.75	-0.32	0.58	0.53	0.43
Property Plant And Equipment Net	0.61	0.61	0.45	0.6	0.09	0.55	-0.46	0.42	0.72	0.56	0.33	0.31	0.54	-0.02	0.53	0.29	0.61	-0.54	0.53	0.55		-0.71	0.49	0.52	0.47	0.97
Net Debt	-0.74	-0.36	-0.33	-0.74	0.22	-0.69	0.56	-0.11	-1.0	-0.64	-0.42	0.08	-0.55	-0.28	-0.42	0.05	-0.74	0.55	-0.63	-0.75	-0.71		-0.03	-0.69	-0.59	-0.62
Non Current Assets Total	-0.06	0.32	0.09	-0.07	0.06	-0.09	0.14	-0.02	0.02	0.13	-0.03	0.15	0.09	-0.63	-0.05	0.3	-0.06	0.14	-0.09	-0.32	0.49	-0.03		-0.08	-0.14	0.6
Cash And Short Term Investments	0.93	0.44	0.44	0.93	-0.27	0.94	-0.87	0.32	0.72	0.95	0.55	-0.14	0.9	0.02	0.8	-0.05	0.93	-0.6	0.93	0.58	0.52	-0.69	-0.08		0.91	0.48
Common Stock Shares Outstanding	0.97	0.39	0.32	0.98	-0.3	0.99	-0.97	0.28	0.62	0.78	0.59	-0.18	0.96	0.08	0.9	-0.13	0.97	-0.64	1.0	0.53	0.47	-0.59	-0.14	0.91		0.44
Property Plant And Equipment Gross	0.57	0.66	0.35	0.55	0.13	0.52	-0.41	0.41	0.62	0.56	0.21	0.29	0.56	-0.15	0.53	0.23	0.57	-0.4	0.5	0.43	0.97	-0.62	0.6	0.48	0.44

Click cells to compare fundamentals

ESSA Pharma Account Relationship Matchups

ESSA Pharma fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	80.6M	198.2M	169.5M	149.1M	171.5M	180.1M
Other Current Liab	676.0	2.4M	1.2M	1.4M	1.6M	1.0M
Total Current Liabilities	1.2M	3.9M	2.3M	3.5M	4.0M	3.3M
Total Stockholder Equity	79.2M	194.0M	167.1M	145.6M	167.5M	175.8M
Other Liab	19.6K	16.5K	127.4K	20.4K	18.3K	17.4K
Net Tangible Assets	49.0M	79.2M	194.0M	167.1M	192.2M	201.8M
Retained Earnings	(81.0M)	(117.8M)	(152.9M)	(179.5M)	(161.5M)	(153.4M)
Accounts Payable	1.1M	1.4M	954.6K	2.0M	2.3M	1.6M
Cash	56.3M	137.8M	57.1M	33.7M	38.8M	37.2M
Other Assets	(55.2K)	198.2M	(446.0K)	115.4M	132.7M	139.3M
Net Receivables	309.5K	489.0K	6.2K	135.1K	121.6K	115.5K
Inventory	420.5K	(360.8K)	(309.5K)	110.6M	127.2M	133.6M
Other Current Assets	24.3M	2.2M	1.8M	585.4K	673.2K	639.6K
Other Stockholder Equity	31.2M	36.4M	44.0M	49.0M	56.4M	59.2M
Total Liab	1.3M	4.2M	2.4M	3.5M	3.1M	3.6M
Total Current Assets	80.6M	197.6M	169.5M	148.8M	171.1M	179.7M
Short Term Debt	59.1K	120.7K	133.8K	80.3K	92.4K	87.8K
Common Stock	131.1M	277.4M	278.1M	278.2M	319.9M	335.9M
Net Debt	(56.3M)	(137.5M)	(56.9M)	(33.6M)	(30.3M)	(31.8M)
Non Current Assets Total	55.2K	567.7K	446.0K	325.3K	292.7K	301.5K
Cash And Short Term Investments	56.3M	194.9M	57.1M	148.1M	170.3M	178.8M
Common Stock Shares Outstanding	22.4M	38.5M	44.0M	44.1M	50.7M	53.2M
Liabilities And Stockholders Equity	80.6M	198.2M	169.5M	149.1M	171.5M	180.1M
Non Currrent Assets Other	(200.7K)	277.6K	259.5K	257.2K	295.8K	201.5K
Short Long Term Debt Total	59.1K	331.0K	209.8K	80.3K	72.3K	68.7K
Net Invested Capital	79.2M	194.0M	167.1M	145.6M	167.5M	103.4M
Net Working Capital	79.1M	193.7M	166.7M	145.3M	167.1M	101.6M
Capital Stock	131.1M	277.4M	278.1M	278.2M	319.9M	198.2M

Pair Trading with ESSA Pharma

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 ESSA Pharma 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 ESSA Pharma will appreciate offsetting losses from the drop in the long position's value.

Moving together with ESSA Stock

0.77

ELAN

Elanco Animal Health Financial Report 14th of May 2024

Pair Corr

Moving against ESSA Stock

0.65	ACB	Aurora Cannabis Financial Report 12th of June 2024	Pair Corr
0.58	CGC	Canopy Growth Corp Financial Report 27th of June 2024	Pair Corr
0.54	HCM	HUTCHMED DRC	Pair Corr
0.48	FLGC	Flora Growth Corp Financial Report 20th of May 2024	Pair Corr

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

The correlation of ESSA Pharma 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 ESSA Pharma moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ESSA Pharma 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 ESSA Pharma 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 ESSA Pharma offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of ESSA Pharma'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 Essa Pharma Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Essa Pharma Stock:

How To Invest In ESSA

Details

Is ESSA Stock a good investment?

Details

What is ESSA Pharma's Net Worth?

Details

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ESSA Pharma. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product.

For more information on how to buy ESSA Stock please use our How to Invest in ESSA Pharma guide.

You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.

Complementary Tools for ESSA Stock analysis

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

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

Earnings Share

(0.59)

Return On Assets

(0.13)

Return On Equity

(0.17)

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

Income Before Tax vs Interest Expense

Income Before Tax vs Interest Expense Correlation Analysis

Correlation Coefficient

Income Before Tax

Interest Expense

ESSA Pharma fundamental ratios Correlations

ESSA Pharma Account Relationship Matchups

High Positive Relationship

High Negative Relationship

ESSA Pharma fundamental ratios Accounts

Pair Trading with ESSA Pharma

Moving together with ESSA Stock

Moving against ESSA Stock

Complementary Tools for ESSA Stock analysis

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Total Stockholder Equity	+ 1.0	Total Assets
Net Tangible Assets	+ 1.0	Total Assets
Total Current Assets	+ 1.0	Total Assets
Net Tangible Assets	+ 1.0	Total Stockholder Equity
Total Current Assets	+ 1.0	Total Stockholder Equity
Total Current Assets	+ 1.0	Net Tangible Assets

Net Debt	- 1.0	Cash
Common Stock Shares Outstanding	- 0.97	Retained Earnings
Common Stock	- 0.97	Retained Earnings
Total Current Assets	- 0.95	Retained Earnings
Retained Earnings	- 0.95	Net Tangible Assets
Retained Earnings	- 0.95	Total Assets