Covalon Total Liab vs Retained Earnings Analysis

COV Stock

CAD 3.65 0.05 1.35%

Covalon Technologies financial indicator trend analysis is way more than just evaluating Covalon Technologies prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Covalon Technologies is a good investment. Please check the relationship between Covalon Technologies Total Liab and its Retained Earnings accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Covalon Technologies. 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.

Total Liab vs Retained Earnings

Total Liab vs Retained Earnings Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Covalon Technologies Total Liab account and Retained Earnings. At this time, the significance of the direction appears to have strong contrarian relationship.

The correlation between Covalon Technologies' Total Liab and Retained Earnings is -0.61. Overlapping area represents the amount of variation of Total Liab that can explain the historical movement of Retained Earnings in the same time period over historical financial statements of Covalon Technologies, assuming nothing else is changed. The correlation between historical values of Covalon Technologies' Total Liab and Retained Earnings 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 Liab of Covalon Technologies are associated (or correlated) with its Retained Earnings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Retained Earnings has no effect on the direction of Total Liab i.e., Covalon Technologies' Total Liab and Retained Earnings go up and down completely randomly.

Correlation Coefficient

-0.61

Relationship Direction	Negative
Relationship Strength	Weak

View All Relationships

Total Liab

The total amount of all liabilities that a company has, including both short-term and long-term liabilities.

Retained Earnings

The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.

Most indicators from Covalon Technologies' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Covalon 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Covalon Technologies. 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.

Sales General And Administrative To Revenue is likely to climb to 0.56 in 2024, whereas Selling General Administrative is likely to drop slightly above 5.3 M in 2024.

	2021	2022	2023	2024 (projected)
Other Operating Expenses	27.3M	31.1M	35.8M	37.6M
Depreciation And Amortization	1.0M	969.4K	1.1M	1.2M

Other Operating Expenses Depreciation And Amortization

Covalon Technologies fundamental ratios Correlations

	Total Assets	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Current Deferred Revenue	Intangible Assets	Non Current Liabilities Total	Other Current Liab	Short Long Term Debt Total	Common Stock	Other Liab	Net Tangible Assets
Total Assets		0.71	0.83	0.79	-0.07	-0.4	0.76	0.81	0.59	-0.3	0.8	0.7	0.87	0.85	0.58	0.07	0.74	0.91	-0.19	-0.26	0.68	-0.52	0.62	0.9	-0.5	0.39
Total Current Liabilities	0.71		0.19	0.86	0.64	-0.62	0.98	0.17	0.97	-0.25	0.16	0.26	0.55	0.73	0.04	0.07	0.99	0.37	0.06	0.27	0.75	-0.85	0.97	0.59	-0.06	-0.29
Total Stockholder Equity	0.83	0.19		0.46	-0.61	-0.06	0.29	0.98	0.04	-0.22	0.97	0.8	0.81	0.62	0.79	0.04	0.23	0.98	-0.35	-0.61	0.28	-0.04	0.07	0.81	-0.7	0.79
Property Plant And Equipment Net	0.79	0.86	0.46		0.34	-0.53	0.92	0.4	0.78	-0.22	0.39	0.46	0.71	0.72	0.35	0.12	0.82	0.57	-0.07	0.0	0.5	-0.83	0.78	0.73	-0.36	0.05
Net Debt	-0.07	0.64	-0.61	0.34		-0.42	0.55	-0.63	0.73	0.03	-0.64	-0.42	-0.17	0.09	-0.6	0.0	0.61	-0.47	0.27	0.75	0.39	-0.66	0.71	-0.14	0.49	-0.85
Retained Earnings	-0.4	-0.62	-0.06	-0.53	-0.42		-0.61	-0.02	-0.54	0.82	-0.02	-0.3	-0.5	-0.57	0.11	-0.03	-0.61	-0.21	-0.25	-0.02	-0.32	0.49	-0.56	-0.43	0.13	0.14
Accounts Payable	0.76	0.98	0.29	0.92	0.55	-0.61		0.25	0.92	-0.25	0.24	0.37	0.65	0.78	0.15	0.03	0.95	0.45	-0.04	0.14	0.66	-0.83	0.92	0.67	-0.2	-0.16
Cash	0.81	0.17	0.98	0.4	-0.63	-0.02	0.25		0.05	-0.22	1.0	0.7	0.72	0.53	0.81	0.05	0.22	0.96	-0.22	-0.63	0.35	-0.05	0.09	0.72	-0.58	0.74
Non Current Assets Total	0.59	0.97	0.04	0.78	0.73	-0.54	0.92	0.05		-0.11	0.04	0.1	0.36	0.61	-0.09	0.09	0.97	0.21	0.12	0.44	0.81	-0.9	0.99	0.46	0.09	-0.4
Non Currrent Assets Other	-0.3	-0.25	-0.22	-0.22	0.03	0.82	-0.25	-0.22	-0.11		-0.24	-0.35	-0.45	-0.36	-0.1	-0.01	-0.26	-0.31	-0.35	0.39	-0.07	0.06	-0.17	-0.31	0.16	-0.12
Cash And Short Term Investments	0.8	0.16	0.97	0.39	-0.64	-0.02	0.24	1.0	0.04	-0.24		0.72	0.7	0.53	0.81	0.07	0.21	0.95	-0.22	-0.64	0.34	-0.04	0.07	0.71	-0.59	0.76
Net Receivables	0.7	0.26	0.8	0.46	-0.42	-0.3	0.37	0.7	0.1	-0.35	0.72		0.79	0.8	0.46	0.02	0.26	0.8	-0.51	-0.47	0.16	-0.03	0.08	0.86	-0.84	0.81
Common Stock Shares Outstanding	0.87	0.55	0.81	0.71	-0.17	-0.5	0.65	0.72	0.36	-0.45	0.7	0.79		0.83	0.52	-0.04	0.54	0.88	-0.26	-0.4	0.33	-0.3	0.41	0.92	-0.7	0.48
Inventory	0.85	0.73	0.62	0.72	0.09	-0.57	0.78	0.53	0.61	-0.36	0.53	0.8	0.83		0.26	0.05	0.73	0.72	-0.35	-0.11	0.59	-0.44	0.6	0.92	-0.59	0.37
Other Current Assets	0.58	0.04	0.79	0.35	-0.6	0.11	0.15	0.81	-0.09	-0.1	0.81	0.46	0.52	0.26		0.04	0.05	0.74	-0.2	-0.76	0.08	-0.03	-0.03	0.46	-0.48	0.59
Other Stockholder Equity	0.07	0.07	0.04	0.12	0.0	-0.03	0.03	0.05	0.09	-0.01	0.07	0.02	-0.04	0.05	0.04		0.07	0.04	0.1	0.16	0.06	-0.1	0.05	0.05	-0.1	0.08
Total Liab	0.74	0.99	0.23	0.82	0.61	-0.61	0.95	0.22	0.97	-0.26	0.21	0.26	0.54	0.73	0.05	0.07		0.4	0.08	0.27	0.83	-0.84	0.98	0.59	-0.03	-0.27
Total Current Assets	0.91	0.37	0.98	0.57	-0.47	-0.21	0.45	0.96	0.21	-0.31	0.95	0.8	0.88	0.72	0.74	0.04	0.4		-0.29	-0.55	0.41	-0.16	0.25	0.86	-0.66	0.69
Current Deferred Revenue	-0.19	0.06	-0.35	-0.07	0.27	-0.25	-0.04	-0.22	0.12	-0.35	-0.22	-0.51	-0.26	-0.35	-0.2	0.1	0.08	-0.29		0.11	0.09	-0.15	0.16	-0.38	0.44	-0.48
Intangible Assets	-0.26	0.27	-0.61	0.0	0.75	-0.02	0.14	-0.63	0.44	0.39	-0.64	-0.47	-0.4	-0.11	-0.76	0.16	0.27	-0.55	0.11		0.3	-0.39	0.36	-0.24	0.47	-0.64
Non Current Liabilities Total	0.68	0.75	0.28	0.5	0.39	-0.32	0.66	0.35	0.81	-0.07	0.34	0.16	0.33	0.59	0.08	0.06	0.83	0.41	0.09	0.3		-0.63	0.81	0.47	0.11	-0.17
Other Current Liab	-0.52	-0.85	-0.04	-0.83	-0.66	0.49	-0.83	-0.05	-0.9	0.06	-0.04	-0.03	-0.3	-0.44	-0.03	-0.1	-0.84	-0.16	-0.15	-0.39	-0.63		-0.89	-0.39	-0.09	0.36
Short Long Term Debt Total	0.62	0.97	0.07	0.78	0.71	-0.56	0.92	0.09	0.99	-0.17	0.07	0.08	0.41	0.6	-0.03	0.05	0.98	0.25	0.16	0.36	0.81	-0.89		0.45	0.12	-0.43
Common Stock	0.9	0.59	0.81	0.73	-0.14	-0.43	0.67	0.72	0.46	-0.31	0.71	0.86	0.92	0.92	0.46	0.05	0.59	0.86	-0.38	-0.24	0.47	-0.39	0.45		-0.71	0.56
Other Liab	-0.5	-0.06	-0.7	-0.36	0.49	0.13	-0.2	-0.58	0.09	0.16	-0.59	-0.84	-0.7	-0.59	-0.48	-0.1	-0.03	-0.66	0.44	0.47	0.11	-0.09	0.12	-0.71		-0.79
Net Tangible Assets	0.39	-0.29	0.79	0.05	-0.85	0.14	-0.16	0.74	-0.4	-0.12	0.76	0.81	0.48	0.37	0.59	0.08	-0.27	0.69	-0.48	-0.64	-0.17	0.36	-0.43	0.56	-0.79

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Covalon Technologies Account Relationship Matchups

Covalon Technologies fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	34.7M	40.6M	30.4M	24.9M	28.6M	18.5M
Total Current Liabilities	22.6M	5.0M	4.5M	5.2M	6.0M	4.9M
Total Stockholder Equity	9.1M	33.4M	24.2M	18.8M	21.6M	12.3M
Property Plant And Equipment Net	4.6M	2.1M	1.9M	1.7M	1.9M	1.2M
Net Debt	17.4M	(20.4M)	(11.9M)	(7.2M)	(6.5M)	(6.2M)
Retained Earnings	(47.7M)	(24.2M)	(33.9M)	(38.4M)	(34.5M)	(36.3M)
Accounts Payable	14.0M	4.0M	3.7M	3.8M	4.4M	3.8M
Cash	3.5M	22.9M	14.1M	8.8M	10.1M	6.3M
Non Current Assets Total	19.8M	3.1M	3.2M	3.6M	4.2M	5.2M
Non Currrent Assets Other	36.6K	37.3K	137.1K	135.2K	121.7K	115.6K
Cash And Short Term Investments	3.5M	22.9M	14.1M	8.8M	10.1M	7.6M
Net Receivables	3.3M	6.4M	4.7M	6.2M	7.1M	7.4M
Common Stock Shares Outstanding	25.8M	25.8M	25.8M	24.9M	28.6M	15.1M
Liabilities And Stockholders Equity	34.7M	40.6M	30.4M	24.9M	28.6M	18.5M
Inventory	7.2M	4.7M	5.0M	5.9M	6.8M	7.2M
Other Current Assets	809.4K	3.4M	3.5M	390.1K	448.6K	637.1K
Other Stockholder Equity	11.7M	11.8M	11.3M	11.4M	10.3M	12.8M
Total Liab	25.6M	7.2M	6.1M	6.1M	7.0M	6.1M
Total Current Assets	14.8M	37.4M	27.2M	21.3M	24.5M	13.3M
Accumulated Other Comprehensive Income	565.8K	1.1M	3.0M	3.0M	3.4M	3.6M
Current Deferred Revenue	498.1K	414.6K	209.1K	80.7K	72.6K	69.0K
Intangible Assets	2.2M	897.9K	1.3M	1.8M	2.1M	1.6M
Non Current Liabilities Total	3.0M	2.2M	1.6M	919.1K	1.1M	1.5M
Other Current Liab	(10.1M)	414.6K	209.1K	668.0K	601.2K	631.2K
Short Long Term Debt Total	20.9M	2.6M	2.2M	1.6M	1.8M	1.7M
Other Liab	438.9K	290.1K	162.4K	51.4K	46.3K	43.9K
Net Tangible Assets	259.4K	(5.6M)	32.9M	23.2M	26.7M	28.1M
Other Assets	648.5K	542.3K	513.2K	290.3K	261.3K	248.2K
Deferred Long Term Liab	611.8K	505.0K	376.1K	290.3K	261.3K	248.2K
Short Term Debt	18.2M	541.4K	609.6K	643.4K	739.9K	702.9K
Property Plant Equipment	1.9M	4.6M	2.1M	1.9M	2.2M	1.7M
Net Invested Capital	26.8M	33.4M	24.2M	18.8M	21.6M	25.1M
Net Working Capital	(7.8M)	32.4M	22.7M	16.1M	18.5M	13.4M

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