InnovAge Retained Earnings vs Other Current Liab Analysis

INNV Stock

USD 3.70 0.12 3.14%

InnovAge Holding financial indicator trend analysis is infinitely more than just investigating InnovAge Holding Corp recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether InnovAge Holding Corp is a good investment. Please check the relationship between InnovAge Holding Retained Earnings and its Other Current Liab accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in InnovAge Holding Corp. 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.

Retained Earnings vs Other Current Liab

Retained Earnings vs Other Current Liab Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of InnovAge Holding Corp Retained Earnings account and Other Current Liab. At this time, the significance of the direction appears to have very week relationship.

The correlation between InnovAge Holding's Retained Earnings and Other Current Liab is 0.21. Overlapping area represents the amount of variation of Retained Earnings that can explain the historical movement of Other Current Liab in the same time period over historical financial statements of InnovAge Holding Corp, assuming nothing else is changed. The correlation between historical values of InnovAge Holding's Retained Earnings and Other Current Liab is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Retained Earnings of InnovAge Holding Corp are associated (or correlated) with its Other Current Liab. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Other Current Liab has no effect on the direction of Retained Earnings i.e., InnovAge Holding's Retained Earnings and Other Current Liab go up and down completely randomly.

Correlation Coefficient

0.21

Relationship Direction	Positive
Relationship Strength	Very Weak

View All Relationships

Retained Earnings

The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.

Other Current Liab

Most indicators from InnovAge Holding's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into InnovAge Holding Corp 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in InnovAge Holding Corp. 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.

Selling General Administrative is likely to drop to about 70.5 M in 2024. Tax Provision is likely to climb to about (3.4 M) in 2024

	2020	2022	2023	2024 (projected)
Gross Profit	174.1M	135.4M	101.3M	93.3M
Total Revenue	637.8M	698.6M	688.1M	408.2M

Gross Profit Total Revenue

InnovAge Holding 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	Good Will	Inventory	Other Current Assets	Total Liab	Short Long Term Debt	Total Current Assets	Short Term Debt	Intangible Assets	Common Stock	Property Plant Equipment	Short Long Term Debt Total	Property Plant And Equipment Net	Current Deferred Revenue	Net Debt
Total Assets		0.93	0.88	0.94	0.84	0.76	0.4	0.9	0.96	0.93	0.47	0.88	0.99	0.31	0.74	0.9	0.96	0.99	0.78	0.76	0.88	0.9	-0.79	0.77	-0.14	-0.85
Other Current Liab	0.93		0.99	0.86	0.72	0.8	0.21	0.99	0.86	0.98	0.44	0.8	0.92	0.07	0.89	0.85	0.89	0.9	0.94	0.72	0.84	0.98	-0.78	0.84	0.0	-0.8
Total Current Liabilities	0.88	0.99		0.78	0.64	0.75	0.14	0.99	0.77	0.96	0.45	0.76	0.88	-0.01	0.93	0.84	0.85	0.84	0.96	0.68	0.81	0.98	-0.72	0.84	0.08	-0.71
Total Stockholder Equity	0.94	0.86	0.78		0.84	0.9	0.19	0.83	0.97	0.81	0.24	0.69	0.88	0.26	0.72	0.69	0.92	0.97	0.76	0.7	0.78	0.87	-0.93	0.83	-0.16	-0.97
Other Liab	0.84	0.72	0.64	0.84		0.72	0.42	0.66	0.91	0.73	0.4	0.73	0.82	0.63	0.46	0.69	0.78	0.88	0.57	0.78	0.75	0.69	-0.74	0.49	-0.61	-0.83
Net Tangible Assets	0.76	0.8	0.75	0.9	0.72		-0.17	0.78	0.83	0.7	0.01	0.42	0.67	0.03	0.79	0.44	0.77	0.8	0.84	0.56	0.6	0.85	-0.97	0.87	-0.11	-0.95
Retained Earnings	0.4	0.21	0.14	0.19	0.42	-0.17		0.16	0.37	0.33	0.51	0.7	0.48	0.56	-0.12	0.61	0.24	0.39	-0.11	0.26	0.38	0.09	0.1	-0.22	-0.48	-0.08
Accounts Payable	0.9	0.99	0.99	0.83	0.66	0.78	0.16		0.82	0.96	0.44	0.78	0.89	0.0	0.93	0.83	0.87	0.87	0.95	0.69	0.81	0.99	-0.77	0.86	0.09	-0.77
Cash	0.96	0.86	0.77	0.97	0.91	0.83	0.37	0.82		0.83	0.35	0.79	0.91	0.4	0.66	0.76	0.89	0.99	0.7	0.74	0.8	0.84	-0.86	0.71	-0.32	-0.94
Other Assets	0.93	0.98	0.96	0.81	0.73	0.7	0.33	0.96	0.83		0.53	0.88	0.94	0.17	0.81	0.91	0.9	0.89	0.87	0.74	0.85	0.94	-0.7	0.75	-0.05	-0.73
Long Term Debt	0.47	0.44	0.45	0.24	0.4	0.01	0.51	0.44	0.35	0.53		0.68	0.55	0.57	0.23	0.7	0.43	0.42	0.28	0.54	0.38	0.35	-0.02	0.09	-0.18	-0.12
Net Receivables	0.88	0.8	0.76	0.69	0.73	0.42	0.7	0.78	0.79	0.88	0.68		0.92	0.43	0.55	0.95	0.8	0.84	0.57	0.72	0.82	0.73	-0.48	0.44	-0.23	-0.58
Good Will	0.99	0.92	0.88	0.88	0.82	0.67	0.48	0.89	0.91	0.94	0.55	0.92		0.34	0.71	0.95	0.94	0.96	0.76	0.76	0.89	0.88	-0.7	0.71	-0.14	-0.77
Inventory	0.31	0.07	-0.01	0.26	0.63	0.03	0.56	0.0	0.4	0.17	0.57	0.43	0.34		-0.27	0.32	0.3	0.36	-0.14	0.45	0.24	0.0	-0.1	-0.23	-0.78	-0.24
Other Current Assets	0.74	0.89	0.93	0.72	0.46	0.79	-0.12	0.93	0.66	0.81	0.23	0.55	0.71	-0.27		0.63	0.73	0.71	0.96	0.53	0.65	0.95	-0.73	0.91	0.28	-0.69
Total Liab	0.9	0.85	0.84	0.69	0.69	0.44	0.61	0.83	0.76	0.91	0.7	0.95	0.95	0.32	0.63		0.82	0.84	0.67	0.7	0.86	0.78	-0.45	0.56	-0.09	-0.54
Short Long Term Debt	0.96	0.89	0.85	0.92	0.78	0.77	0.24	0.87	0.89	0.9	0.43	0.8	0.94	0.3	0.73	0.82		0.94	0.79	0.74	0.86	0.88	-0.82	0.8	-0.04	-0.83
Total Current Assets	0.99	0.9	0.84	0.97	0.88	0.8	0.39	0.87	0.99	0.89	0.42	0.84	0.96	0.36	0.71	0.84	0.94		0.75	0.75	0.85	0.88	-0.83	0.76	-0.23	-0.9
Short Term Debt	0.78	0.94	0.96	0.76	0.57	0.84	-0.11	0.95	0.7	0.87	0.28	0.57	0.76	-0.14	0.96	0.67	0.79	0.75		0.59	0.71	0.96	-0.77	0.91	0.16	-0.73
Intangible Assets	0.76	0.72	0.68	0.7	0.78	0.56	0.26	0.69	0.74	0.74	0.54	0.72	0.76	0.45	0.53	0.7	0.74	0.75	0.59		0.81	0.68	-0.6	0.51	-0.24	-0.65
Common Stock	0.88	0.84	0.81	0.78	0.75	0.6	0.38	0.81	0.8	0.85	0.38	0.82	0.89	0.24	0.65	0.86	0.86	0.85	0.71	0.81		0.8	-0.62	0.65	-0.11	-0.68
Property Plant Equipment	0.9	0.98	0.98	0.87	0.69	0.85	0.09	0.99	0.84	0.94	0.35	0.73	0.88	0.0	0.95	0.78	0.88	0.88	0.96	0.68	0.8		-0.83	0.89	0.05	-0.82
Short Long Term Debt Total	-0.79	-0.78	-0.72	-0.93	-0.74	-0.97	0.1	-0.77	-0.86	-0.7	-0.02	-0.48	-0.7	-0.1	-0.73	-0.45	-0.82	-0.83	-0.77	-0.6	-0.62	-0.83		-0.84	0.11	0.98
Property Plant And Equipment Net	0.77	0.84	0.84	0.83	0.49	0.87	-0.22	0.86	0.71	0.75	0.09	0.44	0.71	-0.23	0.91	0.56	0.8	0.76	0.91	0.51	0.65	0.89	-0.84		0.33	-0.78
Current Deferred Revenue	-0.14	0.0	0.08	-0.16	-0.61	-0.11	-0.48	0.09	-0.32	-0.05	-0.18	-0.23	-0.14	-0.78	0.28	-0.09	-0.04	-0.23	0.16	-0.24	-0.11	0.05	0.11	0.33		0.25
Net Debt	-0.85	-0.8	-0.71	-0.97	-0.83	-0.95	-0.08	-0.77	-0.94	-0.73	-0.12	-0.58	-0.77	-0.24	-0.69	-0.54	-0.83	-0.9	-0.73	-0.65	-0.68	-0.82	0.98	-0.78	0.25

Click cells to compare fundamentals

InnovAge Holding Account Relationship Matchups

InnovAge Holding fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	363.2M	409.6M	531.8M	555.6M	567.4M	328.4M
Other Current Liab	32.1M	40.4M	33.2M	47.6M	53.4M	56.0M
Total Current Liabilities	83.5M	76.6M	78.6M	105.3M	148.5M	155.9M
Total Stockholder Equity	74.2M	101.0M	335.1M	332.4M	296.3M	162.3M
Other Liab	10.7M	18.5M	18.9M	7.3M	8.4M	9.0M
Net Tangible Assets	(20.3M)	203.8M	202.3M	166.9M	191.9M	201.5M
Retained Earnings	64.7M	10.7M	11.3M	4.7M	(35.9M)	(34.1M)
Accounts Payable	28.9M	32.3M	32.4M	50.6M	54.9M	57.7M
Cash	59.7M	112.9M	201.5M	184.4M	127.2M	97.9M
Other Assets	3.0M	3.9M	2.8M	3.8M	4.4M	4.6M
Long Term Debt	210.4M	71.6M	68.2M	64.8M	74.6M	82.8M
Net Receivables	48.1M	32.6M	38.0M	42.7M	24.6M	26.5M
Inventory	1.5M	1.7M	2.2M	1.0	(262K)	(248.9K)
Other Current Assets	4.3M	2.2M	9.2M	13.9M	17.4M	18.3M
Total Liab	281.8M	301.9M	173.8M	201.9M	252.6M	155.1M
Short Long Term Debt	1.9M	3.8M	3.8M	3.8M	4.4M	2.5M
Total Current Assets	119.5M	166.9M	250.9M	241.0M	215.2M	137.7M
Short Term Debt	3.6M	3.4M	5.9M	7.2M	12.0M	12.6M
Intangible Assets	5.8M	5.2M	6.5M	5.9M	5.2M	5.6M
Property Plant Equipment	102.5M	142.7M	176.3M	213.4M	245.4M	257.7M
Capital Lease Obligations	5.6M	7.3M	12.8M	40.2M	46.2M	48.5M
Net Invested Capital	313.4M	410.5M	404.4M	364.9M	419.7M	386.4M
Property Plant And Equipment Gross	102.5M	187.5M	233.3M	213.4M	245.4M	184.3M
Non Current Liabilities Other	1.4M	2.8M	1.1M	1.1M	977.4K	1.2M
Net Working Capital	90.3M	172.4M	135.6M	66.8M	76.8M	110.2M

Pair Trading with InnovAge Holding

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 InnovAge Holding 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 InnovAge Holding will appreciate offsetting losses from the drop in the long position's value.

Moving together with InnovAge Stock

0.89	DOCS	Doximity Upward Rally	Pair Corr
0.69	VEEV	Veeva Systems Class Financial Report 29th of May 2024	Pair Corr
0.63	ENSG	Ensign Group	Pair Corr

Moving against InnovAge Stock

0.8	HAE	Haemonetics	Pair Corr
0.76	EHC	Encompass Health Corp	Pair Corr
0.63	ELV	Elevance Health Financial Report 17th of July 2024	Pair Corr
0.52	DVA	DaVita HealthCare	Pair Corr
0.48	CI	Cigna Corp Sell-off Trend	Pair Corr

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

The correlation of InnovAge Holding 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 InnovAge Holding moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if InnovAge Holding Corp 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 InnovAge Holding 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 InnovAge Holding Corp is a strong investment it is important to analyze InnovAge Holding's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact InnovAge Holding's future performance. For an informed investment choice regarding InnovAge Stock, refer to the following important reports:

How To Invest In InnovAge

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Is InnovAge Stock a good investment?

Details

What is InnovAge Holding's Net Worth?

Details

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Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in InnovAge Holding Corp. 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.

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

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Is InnovAge Holding'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 InnovAge Holding. If investors know InnovAge 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 InnovAge Holding 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

(0.88)

Earnings Share

(0.22)

Revenue Per Share

5.459

Quarterly Revenue Growth

0.119

Return On Assets

(0.03)

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

Retained Earnings vs Other Current Liab

Retained Earnings vs Other Current Liab Correlation Analysis

Correlation Coefficient

Retained Earnings

Other Current Liab

InnovAge Holding fundamental ratios Correlations

InnovAge Holding Account Relationship Matchups

High Positive Relationship

High Negative Relationship

InnovAge Holding fundamental ratios Accounts

Pair Trading with InnovAge Holding

Moving together with InnovAge Stock

Moving against InnovAge Stock

Complementary Tools for InnovAge Stock analysis

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Good Will	+ 0.99	Total Assets
Total Current Assets	+ 0.99	Total Assets
Total Current Liabilities	+ 0.99	Other Current Liab
Accounts Payable	+ 0.99	Other Current Liab
Accounts Payable	+ 0.99	Total Current Liabilities
Property Plant Equipment	+ 0.99	Accounts Payable

Short Long Term Debt Total	- 0.97	Net Tangible Assets
Net Debt	- 0.97	Total Stockholder Equity
Net Debt	- 0.95	Net Tangible Assets
Net Debt	- 0.94	Cash
Short Long Term Debt Total	- 0.93	Total Stockholder Equity
Net Debt	- 0.9	Total Current Assets