Enthusiast Net Receivables vs Long Term Debt Analysis

EGLX Stock  CAD 0.16  0.02  14.29%   
Enthusiast Gaming financial indicator trend analysis is much more than just examining Enthusiast Gaming latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Enthusiast Gaming is a good investment. Please check the relationship between Enthusiast Gaming Net Receivables and its Long Term Debt accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enthusiast Gaming Holdings. 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.

Net Receivables vs Long Term Debt

Net Receivables vs Long Term Debt Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Enthusiast Gaming Net Receivables account and Long Term Debt. At this time, the significance of the direction appears to have almost no relationship.
The correlation between Enthusiast Gaming's Net Receivables and Long Term Debt is 0.17. Overlapping area represents the amount of variation of Net Receivables that can explain the historical movement of Long Term Debt in the same time period over historical financial statements of Enthusiast Gaming Holdings, assuming nothing else is changed. The correlation between historical values of Enthusiast Gaming's Net Receivables and Long Term Debt 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 Receivables of Enthusiast Gaming Holdings are associated (or correlated) with its Long Term Debt. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Long Term Debt has no effect on the direction of Net Receivables i.e., Enthusiast Gaming's Net Receivables and Long Term Debt go up and down completely randomly.

Correlation Coefficient

0.17
Relationship DirectionPositive 
Relationship StrengthInsignificant

Net Receivables

Long Term Debt

Long-term debt is a debt that Enthusiast Gaming has held for over one year. Long-term debt appears on Enthusiast Gaming Holdings balance sheet and also includes long-term leases. The most common forms of long term debt are bonds payable, long-term notes payable, mortgage payable, pension liabilities, and lease liabilities. In the corporate world, long-term debt is generally used to fund big-ticket items, such as machinery, buildings, and land. The total of long-term debt reported on Enthusiast Gaming Holdings balance sheet is the sum of the balances of all categories of long-term debt. Debt that is not due within the current year and is often considered to be financing activities that are to be repaid over several years.
Most indicators from Enthusiast Gaming's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Enthusiast Gaming 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 Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enthusiast Gaming Holdings. 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.
As of the 12th of December 2024, Selling General Administrative is likely to grow to about 30.3 M, though Tax Provision is likely to grow to (1.8 M).
 2021 2022 2023 2024 (projected)
Gross Profit37.8M63.5M14.0M22.0M
Total Revenue167.4M202.8M178.2M101.7M

Enthusiast Gaming fundamental ratios Correlations

0.750.750.931.00.41-0.790.850.340.850.961.00.940.640.880.90.980.991.00.96-0.970.920.950.960.960.94
0.750.320.660.730.86-0.670.550.730.560.70.730.730.960.60.690.780.710.770.74-0.810.720.880.610.780.74
0.750.320.740.72-0.11-0.50.870.130.860.680.750.640.280.670.610.780.790.730.66-0.780.610.620.750.680.65
0.930.660.740.910.39-0.880.720.120.710.980.920.990.490.920.920.960.960.930.98-0.880.980.920.970.970.98
1.00.730.720.910.39-0.770.850.330.840.961.00.930.630.860.890.960.990.990.95-0.950.90.930.950.940.92
0.410.86-0.110.390.39-0.470.080.620.090.440.390.490.80.310.40.460.360.450.47-0.480.510.630.270.50.48
-0.79-0.67-0.5-0.88-0.77-0.47-0.56-0.02-0.56-0.85-0.77-0.9-0.51-0.96-0.89-0.82-0.81-0.8-0.890.73-0.92-0.82-0.87-0.89-0.91
0.850.550.870.720.850.08-0.560.411.00.710.860.690.570.710.750.840.860.840.74-0.860.640.760.80.770.72
0.340.730.130.120.330.62-0.020.410.420.170.340.180.860.00.190.360.270.360.22-0.490.140.470.090.280.19
0.850.560.860.710.840.09-0.561.00.420.70.860.680.580.710.750.830.850.840.74-0.860.630.760.790.770.71
0.960.70.680.980.960.44-0.850.710.170.70.960.990.530.90.890.960.970.970.98-0.90.980.930.970.970.97
1.00.730.750.921.00.39-0.770.860.340.860.960.930.630.860.880.970.991.00.95-0.960.90.930.950.950.92
0.940.730.640.990.930.49-0.90.690.180.680.990.930.560.920.940.960.960.950.99-0.881.00.950.960.991.0
0.640.960.280.490.630.8-0.510.570.860.580.530.630.560.460.560.670.590.670.59-0.740.540.770.460.640.57
0.880.60.670.920.860.31-0.960.710.00.710.90.860.920.460.920.880.90.880.93-0.80.930.840.950.920.93
0.90.690.610.920.890.4-0.890.750.190.750.890.880.940.560.920.90.920.90.96-0.810.920.910.950.960.97
0.980.780.780.960.960.46-0.820.840.360.830.960.970.960.670.880.90.990.980.97-0.980.940.970.950.980.96
0.990.710.790.960.990.36-0.810.860.270.850.970.990.960.590.90.920.990.990.97-0.950.930.940.980.970.96
1.00.770.730.930.990.45-0.80.840.360.840.971.00.950.670.880.90.980.990.97-0.970.930.960.950.970.95
0.960.740.660.980.950.47-0.890.740.220.740.980.950.990.590.930.960.970.970.97-0.90.980.960.981.01.0
-0.97-0.81-0.78-0.88-0.95-0.480.73-0.86-0.49-0.86-0.9-0.96-0.88-0.74-0.8-0.81-0.98-0.95-0.97-0.9-0.86-0.94-0.87-0.92-0.88
0.920.720.610.980.90.51-0.920.640.140.630.980.91.00.540.930.920.940.930.930.98-0.860.930.950.970.99
0.950.880.620.920.930.63-0.820.760.470.760.930.930.950.770.840.910.970.940.960.96-0.940.930.890.980.95
0.960.610.750.970.950.27-0.870.80.090.790.970.950.960.460.950.950.950.980.950.98-0.870.950.890.960.97
0.960.780.680.970.940.5-0.890.770.280.770.970.950.990.640.920.960.980.970.971.0-0.920.970.980.960.99
0.940.740.650.980.920.48-0.910.720.190.710.970.921.00.570.930.970.960.960.951.0-0.880.990.950.970.99
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Enthusiast Gaming Account Relationship Matchups

Enthusiast Gaming fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets169.3M222.3M387.8M341.4M242.4M214.5M
Short Long Term Debt Total27.4M38.9M12.8M19.9M23.7M20.5M
Other Current Liab2.7M4.4M36.5M2.5M12.2M9.1M
Total Current Liabilities10.5M35.2M68.4M59.0M76.2M39.2M
Total Stockholder Equity118.7M141.9M262.8M254.7M142.7M144.9M
Net Debt14.2M34.6M(9.8M)12.5M16.9M10.5M
Retained Earnings(78.9M)(98.3M)(150.3M)(227.2M)(344.8M)(327.6M)
Cash13.2M4.3M22.7M7.4M6.9M8.8M
Long Term Debt26.7M27.2M7.8M144.8K166.6K158.2K
Cash And Short Term Investments14.0M4.4M22.8M7.5M6.9M9.0M
Net Receivables6.9M22.9M34.3M38.3M31.5M21.5M
Good Will83.3M106.2M195.1M171.6M105.9M104.2M
Common Stock Shares Outstanding37.9M83.4M121.0M143.5M153.2M84.8M
Long Term Debt Total7.4M27.3M29.5M10.0M11.5M16.3M
Liabilities And Stockholders Equity169.3M222.3M387.8M341.4M242.4M214.5M
Capital Surpluse777.0K9.4M7.5M25.5M29.3M30.8M
Other Stockholder Equity21.0M7.5M25.5M30.4M35.9M18.9M
Total Liab50.7M80.5M125.0M86.8M99.7M69.6M
Total Current Assets21.5M27.9M59.3M47.8M40.2M31.2M
Short Term Debt193.4K9.4M2.8M18.3M22.6M23.8M
Intangible Assets60.0M81.1M129.1M117.0M85.4M74.6M
Common Stock176.5M232.6M387.1M442.8M444.5M264.8M
Property Plant Equipment1.0M3.2M3.1M2.3M2.6M1.8M
Net Tangible Assets(24.6M)(45.4M)(61.5M)(33.9M)(30.5M)(32.1M)
Accounts Payable5.9M19.8M25.2M32.8M35.2M21.9M
Non Current Assets Total147.8M194.4M328.5M293.6M202.2M213.9M
Non Currrent Assets Other104.6K263.2K(4.8M)(3.0M)182.1K191.2K
Non Current Liabilities Total40.2M45.2M56.6M27.7M23.5M35.4M
Other Current Assets612.4K576.8K2.1M2.0M1.8M1.3M
Net Invested Capital145.4M177.9M272.6M272.2M313.1M191.2M
Accumulated Other Comprehensive Income90.1K45.4K527.2K8.6M7.2M7.6M
Capital Stock176.5M232.6M387.1M442.8M509.2M272.9M
Net Working Capital11.1M(7.3M)(9.2M)(11.2M)(10.1M)(9.6M)

Pair Trading with Enthusiast Gaming

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 Enthusiast Gaming 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 Enthusiast Gaming will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Enthusiast Gaming could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enthusiast Gaming 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 Enthusiast Gaming - 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 Enthusiast Gaming Holdings to buy it.
The correlation of Enthusiast Gaming 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 Enthusiast Gaming moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enthusiast Gaming 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 Enthusiast Gaming 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 CorrelationCorrelation Matching

Other Information on Investing in Enthusiast Stock

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