InnovAge Total Stockholder Equity vs Inventory Analysis
INNV Stock | USD 4.31 0.61 16.49% |
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 Total Stockholder Equity and its Inventory 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.
Total Stockholder Equity vs Inventory
Total Stockholder Equity vs Inventory Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of InnovAge Holding Corp Total Stockholder Equity account and Inventory. At this time, the significance of the direction appears to have very week relationship.
The correlation between InnovAge Holding's Total Stockholder Equity and Inventory is 0.26. Overlapping area represents the amount of variation of Total Stockholder Equity that can explain the historical movement of Inventory 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 Total Stockholder Equity and Inventory is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Total Stockholder Equity of InnovAge Holding Corp are associated (or correlated) with its Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Inventory has no effect on the direction of Total Stockholder Equity i.e., InnovAge Holding's Total Stockholder Equity and Inventory go up and down completely randomly.
Correlation Coefficient | 0.26 |
Relationship Direction | Positive |
Relationship Strength | Very Weak |
Total Stockholder Equity
The total equity held by shareholders, calculated as the difference between a company's total assets and total liabilities. It represents the net value of the company owned by shareholders.Inventory
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 |
InnovAge Holding fundamental ratios Correlations
Click cells to compare fundamentals
InnovAge Holding Account Relationship Matchups
High Positive Relationship
High Negative Relationship
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
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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.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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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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.