Tenon Total Stockholder Equity vs Net Invested Capital Analysis
| TNON Stock | USD 5.47 0.44 8.75% |
Tenon Medical financial indicator trend analysis is much more than just breaking down Tenon Medical prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Tenon Medical is a good investment. Please check the relationship between Tenon Medical Total Stockholder Equity and its Net Invested Capital accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tenon Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons. To learn how to invest in Tenon Stock, please use our How to Invest in Tenon Medical guide.
Total Stockholder Equity vs Net Invested Capital
Total Stockholder Equity vs Net Invested Capital Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Tenon Medical Total Stockholder Equity account and Net Invested Capital. At this time, the significance of the direction appears to have strong relationship.
The correlation between Tenon Medical's Total Stockholder Equity and Net Invested Capital is 0.64. Overlapping area represents the amount of variation of Total Stockholder Equity that can explain the historical movement of Net Invested Capital in the same time period over historical financial statements of Tenon Medical, assuming nothing else is changed. The correlation between historical values of Tenon Medical's Total Stockholder Equity and Net Invested Capital 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 Tenon Medical are associated (or correlated) with its Net Invested Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Invested Capital has no effect on the direction of Total Stockholder Equity i.e., Tenon Medical's Total Stockholder Equity and Net Invested Capital go up and down completely randomly.
Correlation Coefficient | 0.64 |
| Relationship Direction | Positive |
| Relationship Strength | Significant |
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.Net Invested Capital
The total amount of capital invested in a company, including both equity and debt, minus any cash or cash equivalents.Most indicators from Tenon Medical's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Tenon Medical 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 World Market Map to better understand how to build diversified portfolios, which includes a position in Tenon Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons. To learn how to invest in Tenon Stock, please use our How to Invest in Tenon Medical guide.As of the 22nd of September 2024, Issuance Of Capital Stock is likely to grow to about 7.1 M, while Selling General Administrative is likely to drop about 3.9 M.
| 2021 | 2022 | 2023 | 2024 (projected) | Interest Expense | 620.8K | 354K | 21K | 20.0K | Depreciation And Amortization | 114.0K | 289K | 426K | 303.8K |
Tenon Medical fundamental ratios Correlations
Click cells to compare fundamentals
Tenon Medical Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Pair Trading with Tenon Medical
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 Tenon Medical 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 Tenon Medical will appreciate offsetting losses from the drop in the long position's value.Moving against Tenon Stock
| 0.45 | CAH | Cardinal Health | PairCorr |
| 0.4 | HCA | HCA Holdings | PairCorr |
| 0.39 | THC | Tenet Healthcare | PairCorr |
| 0.38 | OMI | Owens Minor | PairCorr |
The ability to find closely correlated positions to Tenon Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tenon Medical 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 Tenon Medical - 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 Tenon Medical to buy it.
The correlation of Tenon Medical 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 Tenon Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tenon Medical 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 Tenon Medical 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.Additional Information and Resources on Investing in Tenon Stock
When determining whether Tenon Medical offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Tenon Medical'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 Tenon Medical Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Tenon Medical Stock:Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tenon Medical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons. To learn how to invest in Tenon Stock, please use our How to Invest in Tenon Medical guide.You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Is Health Care Equipment & Supplies space 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 Tenon Medical. If investors know Tenon 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 Tenon Medical listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (26.64) | Revenue Per Share 9.442 | Quarterly Revenue Growth 0.213 | Return On Assets (1.10) | Return On Equity (15.99) |
The market value of Tenon Medical is measured differently than its book value, which is the value of Tenon that is recorded on the company's balance sheet. Investors also form their own opinion of Tenon Medical's value that differs from its market value or its book value, called intrinsic value, which is Tenon Medical'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 Tenon Medical's market value can be influenced by many factors that don't directly affect Tenon Medical'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 Tenon Medical's value and its price as these two are different measures arrived at by different means. Investors typically determine if Tenon Medical is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Tenon Medical'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.