Qijing Operating Income vs Tax Provision Analysis

603677 Stock

14.01 0.29 2.03%

Qijing Machinery financial indicator trend analysis is much more than just breaking down Qijing Machinery prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Qijing Machinery is a good investment. Please check the relationship between Qijing Machinery Operating Income and its Tax Provision accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Qijing Machinery. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Operating Income vs Tax Provision

Operating Income vs Tax Provision Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Qijing Machinery Operating Income account and Tax Provision. At this time, the significance of the direction appears to have weak contrarian relationship.

The correlation between Qijing Machinery's Operating Income and Tax Provision is -0.06. Overlapping area represents the amount of variation of Operating Income that can explain the historical movement of Tax Provision in the same time period over historical financial statements of Qijing Machinery, assuming nothing else is changed. The correlation between historical values of Qijing Machinery's Operating Income and Tax Provision is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Operating Income of Qijing Machinery are associated (or correlated) with its Tax Provision. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Tax Provision has no effect on the direction of Operating Income i.e., Qijing Machinery's Operating Income and Tax Provision go up and down completely randomly.

Correlation Coefficient

-0.06

Relationship Direction	Negative
Relationship Strength	Insignificant

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Operating Income

Operating Income is the amount of profit realized from Qijing Machinery operations after accounting for operating expenses such as cost of goods sold (COGS), wages and depreciation. Operating income takes the gross income and subtracts other operating expenses and then removes depreciation. Operating Income of Qijing Machinery is typically a synonym for earnings before interest and taxes (EBIT) and is also commonly referred to as operating profit or recurring profit. Earnings before interest and taxes (EBIT), representing the amount of profit a company generates from its operations.

Tax Provision

The amount set aside by a company to cover any estimated taxes for the current period. It reflects the company's expected tax liabilities.

Most indicators from Qijing Machinery's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Qijing Machinery 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Qijing Machinery. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

The current year's Selling General Administrative is expected to grow to about 45.6 M, whereas Tax Provision is forecasted to decline to about 4.3 M.

	2021	2022	2023	2024 (projected)
Operating Income	123.2M	81.3M	103.5M	117.2M
Total Revenue	2.0B	1.8B	1.8B	1.5B

Operating Income Total Revenue

Qijing Machinery fundamental ratios Correlations

	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Retained Earnings	Accounts Payable	Cash	Other Assets	Net Receivables	Short Term Investments	Inventory	Other Current Assets	Total Liab	Intangible Assets	Common Stock	Property Plant Equipment	Net Tangible Assets	Non Current Assets Total	Non Currrent Assets Other	Non Current Liabilities Total	Short Long Term Debt	Total Current Assets	Short Term Debt	Common Stock Shares Outstanding	Net Invested Capital
Total Assets		-0.55	0.15	0.96	0.82	0.92	0.86	0.83	-0.19	0.85	0.18	0.96	0.39	0.77	0.5	0.96	0.97	0.98	0.98	-0.13	0.78	0.06	0.98	-0.25	-0.23	0.89
Other Current Liab	-0.55		0.29	-0.63	-0.69	-0.55	-0.52	-0.53	0.59	-0.31	-0.56	-0.59	0.0	-0.17	-0.89	-0.64	-0.61	-0.56	-0.6	0.3	-0.46	0.23	-0.57	0.44	0.36	-0.56
Total Current Liabilities	0.15	0.29		-0.07	0.22	-0.02	0.28	0.37	0.45	0.08	-0.35	0.1	0.12	0.63	-0.35	-0.04	0.12	0.13	0.1	-0.4	-0.25	0.38	0.21	0.13	-0.1	0.07
Total Stockholder Equity	0.96	-0.63	-0.07		0.77	0.94	0.79	0.75	-0.37	0.87	0.33	0.92	0.33	0.56	0.64	0.99	0.95	0.96	0.94	-0.05	0.75	-0.04	0.94	-0.3	-0.21	0.82
Other Liab	0.82	-0.69	0.22	0.77		0.75	0.9	0.96	-0.32	0.6	0.25	0.82	-0.01	0.68	0.5	0.74	0.83	0.85	0.86	-0.55	0.54	-0.21	0.88	-0.58	-0.62	0.8
Retained Earnings	0.92	-0.55	-0.02	0.94	0.75		0.84	0.72	-0.24	0.85	0.25	0.87	0.31	0.58	0.48	0.89	0.91	0.91	0.9	-0.07	0.73	-0.06	0.89	-0.32	-0.21	0.79
Accounts Payable	0.86	-0.52	0.28	0.79	0.9	0.84		0.88	-0.08	0.66	0.13	0.83	0.02	0.75	0.34	0.77	0.91	0.85	0.83	-0.46	0.62	-0.19	0.86	-0.55	-0.29	0.72
Cash	0.83	-0.53	0.37	0.75	0.96	0.72	0.88		-0.21	0.63	0.03	0.8	0.14	0.76	0.38	0.72	0.8	0.85	0.86	-0.55	0.49	-0.01	0.9	-0.41	-0.6	0.81
Other Assets	-0.19	0.59	0.45	-0.37	-0.32	-0.24	-0.08	-0.21		-0.32	-0.56	-0.17	0.11	0.31	-0.68	-0.37	-0.22	-0.28	-0.25	0.03	-0.01	0.28	-0.24	0.31	0.4	-0.17
Net Receivables	0.85	-0.31	0.08	0.87	0.6	0.85	0.66	0.63	-0.32		0.25	0.78	0.36	0.52	0.39	0.85	0.8	0.88	0.82	0.08	0.54	0.05	0.84	-0.16	-0.23	0.7
Short Term Investments	0.18	-0.56	-0.35	0.33	0.25	0.25	0.13	0.03	-0.56	0.25		0.19	-0.37	-0.23	0.62	0.35	0.32	0.29	0.21	0.12	0.05	-0.61	0.18	-0.52	-0.11	0.01
Inventory	0.96	-0.59	0.1	0.92	0.82	0.87	0.83	0.8	-0.17	0.78	0.19		0.26	0.72	0.53	0.92	0.94	0.95	0.94	-0.23	0.78	-0.04	0.95	-0.36	-0.25	0.86
Other Current Assets	0.39	0.0	0.12	0.33	-0.01	0.31	0.02	0.14	0.11	0.36	-0.37	0.26		0.39	0.1	0.36	0.2	0.29	0.37	0.48	0.38	0.84	0.35	0.77	0.11	0.5
Total Liab	0.77	-0.17	0.63	0.56	0.68	0.58	0.75	0.76	0.31	0.52	-0.23	0.72	0.39		0.0	0.58	0.71	0.7	0.75	-0.28	0.58	0.27	0.76	-0.07	-0.21	0.76
Intangible Assets	0.5	-0.89	-0.35	0.64	0.5	0.48	0.34	0.38	-0.68	0.39	0.62	0.53	0.1	0.0		0.67	0.53	0.53	0.5	-0.11	0.32	-0.1	0.52	-0.25	-0.2	0.41
Common Stock	0.96	-0.64	-0.04	0.99	0.74	0.89	0.77	0.72	-0.37	0.85	0.35	0.92	0.36	0.58	0.67		0.95	0.95	0.93	-0.01	0.75	-0.01	0.93	-0.26	-0.15	0.81
Property Plant Equipment	0.97	-0.61	0.12	0.95	0.83	0.91	0.91	0.8	-0.22	0.8	0.32	0.94	0.2	0.71	0.53	0.95		0.96	0.93	-0.19	0.76	-0.14	0.94	-0.42	-0.16	0.8
Net Tangible Assets	0.98	-0.56	0.13	0.96	0.85	0.91	0.85	0.85	-0.28	0.88	0.29	0.95	0.29	0.7	0.53	0.95	0.96		0.97	-0.15	0.7	-0.05	0.99	-0.35	-0.34	0.86
Non Current Assets Total	0.98	-0.6	0.1	0.94	0.86	0.9	0.83	0.86	-0.25	0.82	0.21	0.94	0.37	0.75	0.5	0.93	0.93	0.97		-0.13	0.79	0.01	0.98	-0.29	-0.4	0.95
Non Currrent Assets Other	-0.13	0.3	-0.4	-0.05	-0.55	-0.07	-0.46	-0.55	0.03	0.08	0.12	-0.23	0.48	-0.28	-0.11	-0.01	-0.19	-0.15	-0.13		0.12	0.2	-0.23	0.54	0.43	-0.12
Non Current Liabilities Total	0.78	-0.46	-0.25	0.75	0.54	0.73	0.62	0.49	-0.01	0.54	0.05	0.78	0.38	0.58	0.32	0.75	0.76	0.7	0.79	0.12		-0.04	0.69	-0.17	0.01	0.81
Short Long Term Debt	0.06	0.23	0.38	-0.04	-0.21	-0.06	-0.19	-0.01	0.28	0.05	-0.61	-0.04	0.84	0.27	-0.1	-0.01	-0.14	-0.05	0.01	0.2	-0.04		0.06	0.89	0.16	0.18
Total Current Assets	0.98	-0.57	0.21	0.94	0.88	0.89	0.86	0.9	-0.24	0.84	0.18	0.95	0.35	0.76	0.52	0.93	0.94	0.99	0.98	-0.23	0.69	0.06		-0.29	-0.4	0.9
Short Term Debt	-0.25	0.44	0.13	-0.3	-0.58	-0.32	-0.55	-0.41	0.31	-0.16	-0.52	-0.36	0.77	-0.07	-0.25	-0.26	-0.42	-0.35	-0.29	0.54	-0.17	0.89	-0.29		0.36	-0.12
Common Stock Shares Outstanding	-0.23	0.36	-0.1	-0.21	-0.62	-0.21	-0.29	-0.6	0.4	-0.23	-0.11	-0.25	0.11	-0.21	-0.2	-0.15	-0.16	-0.34	-0.4	0.43	0.01	0.16	-0.4	0.36		-0.45
Net Invested Capital	0.89	-0.56	0.07	0.82	0.8	0.79	0.72	0.81	-0.17	0.7	0.01	0.86	0.5	0.76	0.41	0.81	0.8	0.86	0.95	-0.12	0.81	0.18	0.9	-0.12	-0.45

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Qijing Machinery Account Relationship Matchups

Qijing Machinery fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	1.8B	1.8B	2.1B	2.0B	2.1B	1.6B
Other Current Liab	18.4M	4.6M	3.9M	1.4M	1.3M	1.3M
Total Current Liabilities	427.3M	473.4M	630.6M	554.5M	951.5M	657.9M
Total Stockholder Equity	1.1B	1.0B	1.1B	1.1B	1.2B	773.0M
Other Liab	11.8M	15.6M	23.8M	29.6M	34.1M	35.8M
Retained Earnings	359.2M	323.2M	392.8M	326.6M	359.7M	267.0M
Accounts Payable	361.9M	417.3M	483.3M	434.0M	487.8M	385.7M
Cash	85.2M	226.8M	315.5M	299.7M	360.3M	378.4M
Other Assets	22.7M	18.3M	20.0M	22.1M	19.9M	16.8M
Net Receivables	531.3M	396.9M	448.4M	427.1M	504.7M	439.1M
Short Term Investments	104.1M	70M	2.7M	40.6M	80.6M	47.5M
Inventory	372.1M	330.5M	446.1M	407.3M	393.7M	327.3M
Other Current Assets	12.9M	30.6M	35.5M	4.7M	5.7M	5.4M
Total Liab	701.0M	770.3M	949.1M	893.0M	987.5M	789.4M
Intangible Assets	84.3M	82.6M	81.1M	81.7M	95.5M	82.5M
Common Stock	196.2M	193.6M	192.1M	192.1M	221.0M	117.0M
Property Plant Equipment	459.0M	546.8M	569.4M	609.2M	700.6M	372.2M
Net Tangible Assets	965.5M	989.7M	955.2M	1.0B	1.2B	939.4M
Non Current Assets Total	669.3M	672.3M	712.4M	702.5M	699.9M	678.0M
Non Currrent Assets Other	669.3M	570.7M	2.1M	626.6K	580.9K	551.8K
Non Current Liabilities Total	273.6M	296.9M	318.4M	338.5M	36.0M	34.2M
Short Long Term Debt	15.0M	16.0M	99.7M	68.0M	95.1M	76.2M
Total Current Assets	1.1B	1.1B	1.3B	1.3B	1.4B	1.3B
Common Stock Shares Outstanding	193.6M	192.1M	192.1M	192.1M	192.1M	154.8M
Net Invested Capital	1.3B	1.3B	1.5B	1.5B	1.3B	1.5B
Net Working Capital	678.3M	662.5M	712.9M	752.1M	493.2M	681.1M
Net Debt	187.8M	62.3M	71.9M	70.2M	63.2M	116.6M
Long Term Debt	258.1M	273.1M	287.8M	301.9M	347.2M	300.1M
Capital Stock	193.6M	192.1M	192.1M	192.1M	192.1M	154.4M

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Balance Sheet is a snapshot of the financial position of Qijing Machinery at a specified time, usually calculated after every quarter, six months, or one year. Qijing Machinery Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Qijing Machinery and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which Qijing currently owns. An asset can also be divided into two categories, current and non-current.

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Qijing Operating Income vs Tax Provision Analysis

Operating Income vs Tax Provision

Operating Income vs Tax Provision Correlation Analysis

Correlation Coefficient

Operating Income

Tax Provision

Qijing Machinery fundamental ratios Correlations

Qijing Machinery Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Qijing Machinery fundamental ratios Accounts

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Other Information on Investing in Qijing Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Common Stock	+ 0.99	Total Stockholder Equity
Total Current Assets	+ 0.99	Net Tangible Assets
Net Tangible Assets	+ 0.98	Total Assets
Non Current Assets Total	+ 0.98	Total Assets
Total Current Assets	+ 0.98	Total Assets
Total Current Assets	+ 0.98	Non Current Assets Total

Intangible Assets	- 0.89	Other Current Liab
Other Liab	- 0.69	Other Current Liab
Intangible Assets	- 0.68	Other Assets
Common Stock	- 0.64	Other Current Liab
Total Stockholder Equity	- 0.63	Other Current Liab
Common Stock Shares Outstanding	- 0.62	Other Liab