Patrick Net Income vs Income Tax Expense Analysis
PATK Stock | USD 102.64 1.56 1.50% |
Patrick Industries financial indicator trend analysis is much more than just breaking down Patrick Industries prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Patrick Industries is a good investment. Please check the relationship between Patrick Industries Net Income and its Income Tax Expense accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Patrick Industries. 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. For more information on how to buy Patrick Stock please use our How to buy in Patrick Stock guide.
Net Income vs Income Tax Expense
Net Income vs Income Tax Expense Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Patrick Industries Net Income account and Income Tax Expense. At this time, the significance of the direction appears to have almost identical trend.
The correlation between Patrick Industries' Net Income and Income Tax Expense is 0.97. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Income Tax Expense in the same time period over historical financial statements of Patrick Industries, assuming nothing else is changed. The correlation between historical values of Patrick Industries' Net Income 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 Net Income of Patrick Industries 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 Net Income i.e., Patrick Industries' Net Income and Income Tax Expense go up and down completely randomly.
Correlation Coefficient | 0.97 |
Relationship Direction | Positive |
Relationship Strength | Very Strong |
Net Income
Net income is one of the most important fundamental items in finance. It plays a large role in Patrick Industries financial statement analysis. It represents the amount of money remaining after all of Patrick Industries operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.Income Tax Expense
Most indicators from Patrick Industries' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Patrick Industries 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 Patrick Industries. 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. For more information on how to buy Patrick Stock please use our How to buy in Patrick Stock guide.At this time, Patrick Industries' Selling General Administrative is quite stable compared to the past year. Sales General And Administrative To Revenue is expected to rise to 0.08 this year, although the value of Tax Provision will most likely fall to about 48.6 M.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 801.2M | 1.1B | 782.2M | 821.3M | Total Revenue | 4.1B | 4.9B | 3.5B | 3.6B |
Patrick Industries fundamental ratios Correlations
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Patrick Industries Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Patrick Industries fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 1.5B | 1.8B | 2.7B | 2.8B | 2.7B | 2.8B | |
Short Long Term Debt Total | 769.5M | 937.5M | 1.4B | 1.5B | 1.2B | 1.3B | |
Other Current Liab | 58.0M | 83.2M | 13.8M | 172.6M | 109.3M | 114.8M | |
Total Current Liabilities | 186.9M | 227.4M | 432.8M | 367.2M | 308.5M | 323.9M | |
Total Stockholder Equity | 497.5M | 559.4M | 767.6M | 955.2M | 1.0B | 1.1B | |
Property Plant And Equipment Net | 274.4M | 369.3M | 477.7M | 514.2M | 531.3M | 557.9M | |
Net Debt | 630.1M | 892.7M | 1.3B | 1.4B | 1.2B | 1.3B | |
Retained Earnings | 305.5M | 360.2M | 513.7M | 758.9M | 843.1M | 885.2M | |
Cash | 139.4M | 44.8M | 122.8M | 22.8M | 11.4M | 11.7M | |
Non Current Assets Total | 954.2M | 1.2B | 1.7B | 1.9B | 1.9B | 2.0B | |
Non Currrent Assets Other | 3.4M | 4.0M | 7.1M | 8.8M | 7.9M | 8.3M | |
Cash And Short Term Investments | 139.4M | 44.8M | 122.8M | 22.8M | 11.4M | 11.7M | |
Net Receivables | 87.5M | 132.5M | 172.4M | 172.9M | 173.1M | 181.8M | |
Common Stock Shares Outstanding | 23.3M | 23.1M | 23.4M | 24.5M | 22.0M | 17.8M | |
Liabilities And Stockholders Equity | 1.5B | 1.8B | 2.7B | 2.8B | 2.7B | 2.8B | |
Non Current Liabilities Total | 786.6M | 966.6M | 1.5B | 1.5B | 1.3B | 1.4B | |
Inventory | 253.9M | 312.8M | 614.4M | 667.8M | 510.1M | 535.6M | |
Other Current Assets | 36.0M | 38.0M | 64.5M | 46.3M | 39.9M | 41.9M | |
Other Stockholder Equity | 25.0M | 24.4M | 59.7M | 113.2M | 130.2M | 136.7M | |
Total Liab | 973.5M | 1.2B | 1.9B | 1.8B | 1.6B | 1.7B | |
Property Plant And Equipment Gross | 274.4M | 369.3M | 477.7M | 514.2M | 823.8M | 865.0M | |
Total Current Assets | 516.8M | 528.1M | 974.1M | 909.9M | 734.6M | 771.4M | |
Accumulated Other Comprehensive Income | (5.7M) | (6.1M) | (2.2M) | (695K) | (999K) | (1.0M) | |
Short Term Debt | 32.7M | 38.4M | 47.8M | 51.7M | 56.3M | 59.1M | |
Intangible Assets | 357.0M | 456.3M | 640.5M | 720.2M | 651.2M | 683.7M | |
Accounts Payable | 96.2M | 105.8M | 203.5M | 142.9M | 140.5M | 147.6M | |
Common Stock Total Equity | 172.7M | 180.9M | 196.4M | 197.0M | 226.6M | 237.9M | |
Common Stock | 172.7M | 180.9M | 196.4M | 197.0M | 203.3M | 213.4M | |
Other Liab | 43.9M | 67.5M | 51.2M | 61.4M | 70.7M | 74.2M | |
Other Assets | 3.4M | 4.0M | 7.1M | 8.8M | 10.2M | 10.7M | |
Long Term Debt | 670.4M | 810.9M | 1.3B | 1.3B | 1.0B | 1.1B | |
Good Will | 676.4M | 852.1M | 551.4M | 629.3M | 637.4M | 669.3M | |
Property Plant Equipment | 180.8M | 251.5M | 477.7M | 350.6M | 403.2M | 423.3M | |
Net Tangible Assets | (178.9M) | (292.6M) | (424.3M) | (394.3M) | (354.9M) | (337.1M) | |
Retained Earnings Total Equity | 305.5M | 360.2M | 513.7M | 758.9M | 872.7M | 916.3M | |
Capital Surpluse | 25.1M | 25.0M | 24.4M | 59.7M | 68.6M | 72.0M | |
Deferred Long Term Liab | 27.3M | 39.5M | 36.5M | 48.4M | 55.7M | 58.4M |
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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Patrick Industries. 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. For more information on how to buy Patrick Stock please use our How to buy in Patrick Stock guide.You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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When running Patrick Industries' price analysis, check to measure Patrick Industries' 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 Patrick Industries is operating at the current time. Most of Patrick Industries' value examination focuses on studying past and present price action to predict the probability of Patrick Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Patrick Industries' price. Additionally, you may evaluate how the addition of Patrick Industries to your portfolios can decrease your overall portfolio volatility.
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Is Patrick Industries' 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 Patrick Industries. If investors know Patrick 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 Patrick Industries 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 (0.16) | Dividend Share 1.9 | Earnings Share 6.5 | Revenue Per Share 161.162 | Quarterly Revenue Growth (0.18) |
The market value of Patrick Industries is measured differently than its book value, which is the value of Patrick that is recorded on the company's balance sheet. Investors also form their own opinion of Patrick Industries' value that differs from its market value or its book value, called intrinsic value, which is Patrick Industries' 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 Patrick Industries' market value can be influenced by many factors that don't directly affect Patrick Industries' 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 Patrick Industries' value and its price as these two are different measures arrived at by different means. Investors typically determine if Patrick Industries is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Patrick Industries' 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.