Boralex Inventory vs Common Stock Total Equity Analysis

BLX Stock

CAD 30.14 0.20 0.67%

Boralex financial indicator trend analysis is way more than just evaluating Boralex prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Boralex is a good investment. Please check the relationship between Boralex Inventory and its Common Stock Total Equity accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Boralex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Inventory vs Common Stock Total Equity

Inventory vs Common Stock Total Equity Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Boralex Inventory account and Common Stock Total Equity. At this time, the significance of the direction appears to have no relationship.

The correlation between Boralex's Inventory and Common Stock Total Equity is 0.01. Overlapping area represents the amount of variation of Inventory that can explain the historical movement of Common Stock Total Equity in the same time period over historical financial statements of Boralex, assuming nothing else is changed. The correlation between historical values of Boralex's Inventory and Common Stock Total Equity is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Inventory of Boralex are associated (or correlated) with its Common Stock Total Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Common Stock Total Equity has no effect on the direction of Inventory i.e., Boralex's Inventory and Common Stock Total Equity go up and down completely randomly.

Correlation Coefficient

0.01

Relationship Direction	Positive
Relationship Strength	Insignificant

View All Relationships

Inventory

Common Stock Total Equity

The total value of common stock equity held by shareholders, representing their ownership interest in the company.

Most indicators from Boralex's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Boralex 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 Boralex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

At this time, Boralex's Selling General Administrative is very stable compared to the past year. As of the 1st of December 2024, Tax Provision is likely to grow to about 41 M, while Discontinued Operations is likely to drop about 2.4 M.

	2021	2022	2023	2024 (projected)
Gross Profit	538M	578M	642M	674.1M
Total Revenue	691M	836M	1.0B	1.1B

Gross Profit Total Revenue

Boralex fundamental ratios Correlations

	Common Stock Shares Outstanding	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Non Current Liabilities Total	Inventory	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Short Term Debt	Common Stock	Other Current Assets
Common Stock Shares Outstanding		0.85	0.89	0.54	0.7	0.73	0.88	0.38	0.9	-0.47	0.65	0.58	0.86	0.45	0.59	0.76	0.85	0.89	0.1	-0.06	0.89	0.8	0.7	0.73	0.84	0.21
Total Assets	0.85		0.97	0.76	0.9	0.96	0.99	0.64	0.95	-0.18	0.54	0.87	1.0	0.75	0.87	0.96	0.99	0.98	0.03	-0.07	0.99	0.98	0.94	0.86	0.98	0.1
Short Long Term Debt Total	0.89	0.97		0.64	0.82	0.87	0.99	0.5	1.0	-0.39	0.62	0.75	0.98	0.58	0.75	0.9	0.97	1.0	0.04	-0.07	1.0	0.93	0.85	0.85	0.96	0.1
Other Current Liab	0.54	0.76	0.64		0.87	0.83	0.71	0.56	0.6	0.25	0.45	0.83	0.74	0.8	0.83	0.75	0.74	0.66	0.3	-0.05	0.7	0.77	0.9	0.58	0.74	0.44
Total Current Liabilities	0.7	0.9	0.82	0.87		0.93	0.86	0.7	0.79	0.13	0.39	0.82	0.89	0.83	0.82	0.89	0.84	0.81	0.25	-0.11	0.86	0.89	0.93	0.89	0.84	0.26
Total Stockholder Equity	0.73	0.96	0.87	0.83	0.93		0.92	0.72	0.83	0.08	0.41	0.94	0.95	0.89	0.95	0.98	0.94	0.88	-0.03	-0.05	0.91	0.97	0.97	0.83	0.94	0.03
Property Plant And Equipment Net	0.88	0.99	0.99	0.71	0.86	0.92		0.58	0.98	-0.3	0.59	0.81	1.0	0.67	0.81	0.94	0.98	0.99	0.03	-0.08	1.0	0.96	0.89	0.85	0.98	0.12
Current Deferred Revenue	0.38	0.64	0.5	0.56	0.7	0.72	0.58		0.46	0.31	-0.24	0.7	0.63	0.82	0.7	0.67	0.59	0.52	0.01	-0.03	0.56	0.74	0.7	0.53	0.59	0.08
Net Debt	0.9	0.95	1.0	0.6	0.79	0.83	0.98	0.46		-0.45	0.63	0.69	0.96	0.53	0.7	0.87	0.95	0.99	0.05	-0.08	0.99	0.9	0.81	0.84	0.94	0.11
Retained Earnings	-0.47	-0.18	-0.39	0.25	0.13	0.08	-0.3	0.31	-0.45		-0.52	0.22	-0.21	0.44	0.2	-0.02	-0.25	-0.38	-0.1	0.09	-0.31	-0.11	0.08	-0.08	-0.23	-0.12
Accounts Payable	0.65	0.54	0.62	0.45	0.39	0.41	0.59	-0.24	0.63	-0.52		0.36	0.55	0.12	0.36	0.44	0.58	0.62	0.1	-0.07	0.6	0.45	0.43	0.42	0.57	0.2
Cash	0.58	0.87	0.75	0.83	0.82	0.94	0.81	0.7	0.69	0.22	0.36		0.85	0.89	1.0	0.9	0.87	0.77	-0.11	0.03	0.8	0.9	0.95	0.66	0.88	-0.02
Non Current Assets Total	0.86	1.0	0.98	0.74	0.89	0.95	1.0	0.63	0.96	-0.21	0.55	0.85		0.74	0.85	0.96	0.99	0.98	0.01	-0.08	0.99	0.98	0.92	0.86	0.98	0.09
Non Currrent Assets Other	0.45	0.75	0.58	0.8	0.83	0.89	0.67	0.82	0.53	0.44	0.12	0.89	0.74		0.89	0.83	0.71	0.6	-0.12	-0.02	0.65	0.82	0.85	0.64	0.71	-0.02
Cash And Short Term Investments	0.59	0.87	0.75	0.83	0.82	0.95	0.81	0.7	0.7	0.2	0.36	1.0	0.85	0.89		0.91	0.87	0.78	-0.11	0.02	0.8	0.9	0.95	0.66	0.88	-0.02
Net Receivables	0.76	0.96	0.9	0.75	0.89	0.98	0.94	0.67	0.87	-0.02	0.44	0.9	0.96	0.83	0.91		0.95	0.91	-0.11	-0.04	0.93	0.96	0.93	0.84	0.95	-0.07
Common Stock Total Equity	0.85	0.99	0.97	0.74	0.84	0.94	0.98	0.59	0.95	-0.25	0.58	0.87	0.99	0.71	0.87	0.95		0.98	0.01	-0.07	0.98	0.97	0.92	0.79	1.0	0.08
Non Current Liabilities Total	0.89	0.98	1.0	0.66	0.81	0.88	0.99	0.52	0.99	-0.38	0.62	0.77	0.98	0.6	0.78	0.91	0.98		0.02	-0.07	1.0	0.94	0.86	0.82	0.97	0.11
Inventory	0.1	0.03	0.04	0.3	0.25	-0.03	0.03	0.01	0.05	-0.1	0.1	-0.11	0.01	-0.12	-0.11	-0.11	0.01	0.02		-0.02	0.06	-0.03	0.14	0.07	0.0	0.85
Other Stockholder Equity	-0.06	-0.07	-0.07	-0.05	-0.11	-0.05	-0.08	-0.03	-0.08	0.09	-0.07	0.03	-0.08	-0.02	0.02	-0.04	-0.07	-0.07	-0.02		-0.08	-0.07	0.01	-0.16	-0.06	-0.04
Total Liab	0.89	0.99	1.0	0.7	0.86	0.91	1.0	0.56	0.99	-0.31	0.6	0.8	0.99	0.65	0.8	0.93	0.98	1.0	0.06	-0.08		0.96	0.89	0.85	0.97	0.13
Property Plant And Equipment Gross	0.8	0.98	0.93	0.77	0.89	0.97	0.96	0.74	0.9	-0.11	0.45	0.9	0.98	0.82	0.9	0.96	0.97	0.94	-0.03	-0.07	0.96		0.94	0.81	0.97	0.08
Total Current Assets	0.7	0.94	0.85	0.9	0.93	0.97	0.89	0.7	0.81	0.08	0.43	0.95	0.92	0.85	0.95	0.93	0.92	0.86	0.14	0.01	0.89	0.94		0.75	0.93	0.2
Short Term Debt	0.73	0.86	0.85	0.58	0.89	0.83	0.85	0.53	0.84	-0.08	0.42	0.66	0.86	0.64	0.66	0.84	0.79	0.82	0.07	-0.16	0.85	0.81	0.75		0.79	-0.03
Common Stock	0.84	0.98	0.96	0.74	0.84	0.94	0.98	0.59	0.94	-0.23	0.57	0.88	0.98	0.71	0.88	0.95	1.0	0.97	0.0	-0.06	0.97	0.97	0.93	0.79		0.07
Other Current Assets	0.21	0.1	0.1	0.44	0.26	0.03	0.12	0.08	0.11	-0.12	0.2	-0.02	0.09	-0.02	-0.02	-0.07	0.08	0.11	0.85	-0.04	0.13	0.08	0.2	-0.03	0.07

Click cells to compare fundamentals

Boralex Account Relationship Matchups

Boralex fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Common Stock Shares Outstanding	90.6M	98.7M	102.8M	102.8M	102.8M	54.1M
Total Assets	4.6B	5.3B	5.8B	6.5B	6.6B	6.9B
Short Long Term Debt Total	3.3B	3.8B	3.9B	3.6B	3.6B	3.8B
Other Current Liab	85M	252M	106M	324M	380M	399M
Total Current Liabilities	304M	403M	395M	821M	715M	750.8M
Total Stockholder Equity	860M	989M	1.0B	1.7B	1.6B	1.7B
Property Plant And Equipment Net	3.0B	3.4B	3.6B	3.7B	3.7B	3.9B
Current Deferred Revenue	94M	82M	(252M)	374M	430.1M	451.6M
Net Debt	3.1B	3.5B	3.7B	3.2B	3.1B	3.3B
Retained Earnings	(233M)	(249M)	(299M)	174M	183M	192.2M
Accounts Payable	36M	161M	45M	57M	38M	35.1M
Cash	153M	275M	256M	361M	478M	501.9M
Non Current Assets Total	4.2B	4.8B	5.3B	5.9B	5.8B	6.1B
Non Currrent Assets Other	19M	21M	90M	369M	332M	348.6M
Cash And Short Term Investments	170M	275M	259M	361M	478M	501.9M
Net Receivables	153M	157M	148M	234M	236M	247.8M
Common Stock Total Equity	733M	984M	1.1B	1.3B	1.5B	1.6B
Liabilities And Stockholders Equity	4.6B	5.3B	5.8B	6.5B	6.6B	6.9B
Non Current Liabilities Total	3.4B	3.9B	4.1B	3.7B	3.8B	4.0B
Inventory	15M	2M	3M	13M	22M	19.4M
Total Liab	3.7B	4.3B	4.5B	4.5B	4.6B	4.8B
Property Plant And Equipment Gross	3.0B	3.4B	4.9B	5.1B	5.4B	5.7B
Total Current Assets	363M	472M	460M	638M	771M	809.6M
Accumulated Other Comprehensive Income	(41M)	(91M)	(29M)	174M	112M	117.6M
Short Term Debt	183M	242M	239M	434M	297M	311.9M
Common Stock	984M	1.1B	1.3B	1.3B	1.5B	1.6B
Intangible Assets	700M	1.0B	1.1B	1.1B	986M	645.5M
Good Will	188M	222M	218M	233M	234M	162.7M
Other Liab	255M	308M	441M	503M	578.5M	607.4M
Net Tangible Assets	(28M)	(260M)	(364M)	389M	447.4M	469.7M
Other Assets	80M	84M	148M	369M	424.4M	445.6M
Long Term Debt	2.9B	3.3B	3.4B	2.9B	3.0B	2.6B
Long Term Investments	312M	144M	140M	565M	526M	552.3M
Short Long Term Debt	172M	229M	220M	416M	277M	245.3M
Property Plant Equipment	3.0B	3.4B	3.6B	3.7B	4.2B	2.7B
Long Term Debt Total	3.1B	3.5B	3.7B	3.2B	3.6B	3.0B

Pair Trading with Boralex

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 Boralex 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 Boralex will appreciate offsetting losses from the drop in the long position's value.

Moving together with Boralex Stock

0.86

ELF-PH

E L Financial

Pair Corr

Moving against Boralex Stock

0.73	ELF	E L Financial	Pair Corr
0.71	FFH-PH	Fairfax Financial	Pair Corr
0.7	FFH-PJ	Fairfax Financial	Pair Corr
0.7	FFH-PD	Fairfax Financial	Pair Corr
0.66	FFH-PF	Fairfax Financial	Pair Corr

The ability to find closely correlated positions to Boralex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Boralex 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 Boralex - 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 Boralex to buy it.

The correlation of Boralex 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 Boralex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Boralex 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 Boralex 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.

Pair Correlation Correlation Matching

Other Information on Investing in Boralex Stock

Balance Sheet is a snapshot of the financial position of Boralex at a specified time, usually calculated after every quarter, six months, or one year. Boralex Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Boralex 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 Boralex currently owns. An asset can also be divided into two categories, current and non-current.

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Boralex Inventory vs Common Stock Total Equity Analysis

Inventory vs Common Stock Total Equity

Inventory vs Common Stock Total Equity Correlation Analysis

Correlation Coefficient

Inventory

Common Stock Total Equity

Boralex fundamental ratios Correlations

Boralex Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Boralex fundamental ratios Accounts

Pair Trading with Boralex

Moving together with Boralex Stock

Moving against Boralex Stock

Other Information on Investing in Boralex Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Non Current Assets Total	+ 1.0	Total Assets
Net Debt	+ 1.0	Short Long Term Debt Total
Non Current Liabilities Total	+ 1.0	Short Long Term Debt Total
Total Liab	+ 1.0	Short Long Term Debt Total
Non Current Assets Total	+ 1.0	Property Plant And Equipment Net
Total Liab	+ 1.0	Property Plant And Equipment Net

Accounts Payable	- 0.52	Retained Earnings
Retained Earnings	- 0.47	Common Stock Shares Outstanding
Retained Earnings	- 0.45	Net Debt
Retained Earnings	- 0.39	Short Long Term Debt Total
Non Current Liabilities Total	- 0.38	Retained Earnings
Total Liab	- 0.31	Retained Earnings