Ocean Total Revenue vs Income Tax Expense Analysis
OPTT Stock | USD 0.19 0.01 5.00% |
Ocean Power financial indicator trend analysis is much more than just breaking down Ocean Power Technologies prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Ocean Power Technologies is a good investment. Please check the relationship between Ocean Power Total Revenue and its Income Tax Expense accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ocean Power Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate.
Total Revenue vs Income Tax Expense
Total Revenue vs Income Tax Expense Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Ocean Power Technologies Total Revenue account and Income Tax Expense. At this time, the significance of the direction appears to have weak contrarian relationship.
The correlation between Ocean Power's Total Revenue and Income Tax Expense is -0.04. Overlapping area represents the amount of variation of Total Revenue that can explain the historical movement of Income Tax Expense in the same time period over historical financial statements of Ocean Power Technologies, assuming nothing else is changed. The correlation between historical values of Ocean Power's Total Revenue and Income Tax 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 Total Revenue of Ocean Power Technologies are associated (or correlated) with its Income Tax Expense. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Income Tax Expense has no effect on the direction of Total Revenue i.e., Ocean Power's Total Revenue and Income Tax Expense go up and down completely randomly.
Correlation Coefficient | -0.04 |
Relationship Direction | Negative |
Relationship Strength | Insignificant |
Total Revenue
Total revenue comprises all receipts Ocean Power Technologies generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.Income Tax Expense
Most indicators from Ocean Power's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Ocean Power Technologies 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 Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ocean Power Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. At this time, Ocean Power's Selling General Administrative is comparatively stable compared to the past year. Sales General And Administrative To Revenue is likely to gain to 12.92 in 2024, whereas Enterprise Value Over EBITDA is likely to drop (0.78) in 2024.
2021 | 2022 | 2023 | 2024 (projected) | Total Operating Expenses | 21.5M | 28.3M | 32.6M | 34.2M | Cost Of Revenue | 1.9M | 2.5M | 2.2M | 2.6M |
Ocean Power fundamental ratios Correlations
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Ocean Power Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Ocean Power fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 13.5M | 86.4M | 73.4M | 53.4M | 48.0M | 36.6M | |
Total Stockholder Equity | 10.5M | 80.5M | 68.8M | 44.0M | 39.6M | 32.3M | |
Net Debt | (8.6M) | (81.0M) | (7.0M) | (5.0M) | (5.8M) | (6.1M) | |
Retained Earnings | (220.1M) | (234.9M) | (253.8M) | (280.1M) | (252.1M) | (239.5M) | |
Other Assets | 155K | 221K | 222K | 219K | 197.1K | 187.2K | |
Common Stock Shares Outstanding | 7.2M | 30.0M | 54.0M | 56.0M | 64.4M | 67.6M | |
Liabilities And Stockholders Equity | 13.5M | 86.4M | 73.4M | 53.4M | 48.0M | 36.6M | |
Non Current Liabilities Total | 1.1M | 1.2M | 1.6M | 1.5M | 1.7M | 1.8M | |
Other Stockholder Equity | 230.8M | 315.5M | 322.6M | 324.0M | 372.6M | 191.8M | |
Total Liab | 3.0M | 5.9M | 4.6M | 9.4M | 10.8M | 6.0M | |
Other Current Liab | 1.3M | 3.2M | 1.6M | 5.0M | 5.8M | 3.2M | |
Total Current Liabilities | 1.9M | 4.7M | 3.0M | 7.9M | 7.1M | 3.9M | |
Property Plant And Equipment Net | 1.7M | 1.4M | 1.2M | 3.0M | 3.5M | 3.7M | |
Current Deferred Revenue | 188K | 100K | 129K | 1.4M | 1.6M | 1.7M | |
Accounts Payable | 220K | 687K | 905K | 952K | 856.8K | 606.0K | |
Cash | 10.0M | 83.0M | 7.9M | 6.9M | 6.2M | 5.9M | |
Non Current Assets Total | 1.9M | 1.9M | 14.1M | 15.7M | 14.1M | 14.8M | |
Non Currrent Assets Other | 155K | 221K | 222K | 219K | 139.5K | 132.5K | |
Cash And Short Term Investments | 10.0M | 83.0M | 57.3M | 34.7M | 31.2M | 29.9M | |
Net Receivables | 356K | 540K | 868K | 897K | 807.3K | 832.8K | |
Common Stock Total Equity | 5K | 13K | 52K | 56K | 64.4K | 67.6K | |
Short Term Investments | 60K | 68K | 49.4M | 27.8M | 25.0M | 26.3M | |
Other Current Assets | 588K | 487K | 467K | 994K | 894.6K | 491.1K | |
Property Plant And Equipment Gross | 1.7M | 1.4M | 1.2M | 3.0M | 3.5M | 3.7M | |
Total Current Assets | 11.7M | 84.4M | 59.3M | 37.7M | 33.9M | 31.7M | |
Short Term Debt | 329K | 842K | 319K | 529K | 476.1K | 571.3K | |
Common Stock | 5K | 13K | 52K | 56K | 64.4K | 67.6K | |
Property Plant Equipment | 499K | 1.4M | 1.2M | 1.3M | 1.5M | 738.9K | |
Treasury Stock | (301K) | (302K) | (338K) | (355K) | (319.5K) | (303.5K) | |
Net Tangible Assets | 10.5M | 80.2M | 56.2M | 31.4M | 36.2M | 27.9M | |
Retained Earnings Total Equity | (209.8M) | (220.1M) | (234.9M) | (280.1M) | (252.1M) | (264.7M) | |
Capital Surpluse | 226.0M | 231.1M | 315.8M | 324.4M | 373.1M | 235.9M | |
Inventory | 707K | 384K | 442K | 1.0M | 939.6K | 712.7K |
Pair Trading with Ocean Power
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 Ocean Power 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 Ocean Power will appreciate offsetting losses from the drop in the long position's value.Moving against Ocean Stock
0.83 | EPAC | Enerpac Tool Group Financial Report 19th of June 2024 | PairCorr |
0.78 | CR | Crane Company | PairCorr |
0.6 | CMI | Cummins | PairCorr |
0.5 | PH | Parker Hannifin Fiscal Year End 1st of August 2024 | PairCorr |
The ability to find closely correlated positions to Ocean Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ocean Power 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 Ocean Power - 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 Ocean Power Technologies to buy it.
The correlation of Ocean Power 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 Ocean Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ocean Power Technologies 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 Ocean Power 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 Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ocean Power Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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When running Ocean Power's price analysis, check to measure Ocean Power'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 Ocean Power is operating at the current time. Most of Ocean Power's value examination focuses on studying past and present price action to predict the probability of Ocean Power's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ocean Power's price. Additionally, you may evaluate how the addition of Ocean Power to your portfolios can decrease your overall portfolio volatility.
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Is Ocean Power'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 Ocean Power. If investors know Ocean 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 Ocean Power listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.52) | Revenue Per Share 0.085 | Quarterly Revenue Growth 1.441 | Return On Assets (0.42) | Return On Equity (0.77) |
The market value of Ocean Power Technologies is measured differently than its book value, which is the value of Ocean that is recorded on the company's balance sheet. Investors also form their own opinion of Ocean Power's value that differs from its market value or its book value, called intrinsic value, which is Ocean Power'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 Ocean Power's market value can be influenced by many factors that don't directly affect Ocean Power'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 Ocean Power's value and its price as these two are different measures arrived at by different means. Investors typically determine if Ocean Power is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Ocean Power'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.