Elevation Net Income vs Depreciation Analysis

ELEV Stock  USD 0.56  0.02  3.52%   
Elevation Oncology financial indicator trend analysis is much more than just examining Elevation Oncology latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Elevation Oncology is a good investment. Please check the relationship between Elevation Oncology Net Income and its Depreciation accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elevation Oncology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.
For more information on how to buy Elevation Stock please use our How to Invest in Elevation Oncology guide.

Net Income vs Depreciation

Net Income vs Depreciation Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Elevation Oncology Net Income account and Depreciation. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between Elevation Oncology's Net Income and Depreciation is -0.67. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Depreciation in the same time period over historical financial statements of Elevation Oncology, assuming nothing else is changed. The correlation between historical values of Elevation Oncology's Net Income and Depreciation 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 Income of Elevation Oncology are associated (or correlated) with its Depreciation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Depreciation has no effect on the direction of Net Income i.e., Elevation Oncology's Net Income and Depreciation go up and down completely randomly.

Correlation Coefficient

-0.67
Relationship DirectionNegative 
Relationship StrengthWeak

Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in Elevation Oncology financial statement analysis. It represents the amount of money remaining after all of Elevation Oncology operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Depreciation

Depreciation indicates how much of Elevation Oncology value has been used up. For tax purposes Elevation Oncology can deduct the cost of the tangible assets it purchases as business expenses. However, Elevation Oncology must depreciate these assets in accordance with IRS rules about how and when the deduction may be taken, and how long it will last. The systematic allocation of the cost of a tangible asset over its useful life.
Most indicators from Elevation Oncology's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Elevation Oncology 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 Elevation Oncology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.
For more information on how to buy Elevation Stock please use our How to Invest in Elevation Oncology guide.At this time, Elevation Oncology's Issuance Of Capital Stock is fairly stable compared to the past year. Enterprise Value Over EBITDA is likely to climb to 0.02 in 2024, whereas Tax Provision is likely to drop slightly above 26 K in 2024.
 2021 2022 2023 2024 (projected)
Reconciled Depreciation18K27K39K27.2K
Cost Of Revenue18K27K39K27.2K

Elevation Oncology fundamental ratios Correlations

0.730.840.850.85-0.8-0.710.740.961.00.350.410.940.570.510.871.01.0-0.780.540.26-0.780.150.410.550.37
0.730.940.610.61-0.28-0.80.650.520.720.270.260.650.760.390.730.730.69-0.870.850.79-0.870.750.320.80.3
0.840.940.640.63-0.52-0.690.840.720.840.110.430.690.590.560.710.840.81-0.780.670.71-0.780.610.170.620.29
0.850.610.641.0-0.72-0.580.50.820.850.28-0.130.930.58-0.020.980.850.85-0.710.410.17-0.71-0.030.340.430.27
0.850.610.631.0-0.72-0.580.50.820.840.29-0.130.930.57-0.020.980.850.85-0.70.410.17-0.7-0.040.340.430.25
-0.8-0.28-0.52-0.72-0.720.17-0.74-0.93-0.810.05-0.32-0.73-0.01-0.38-0.63-0.81-0.820.270.040.050.270.340.00.020.0
-0.71-0.8-0.69-0.58-0.580.17-0.26-0.5-0.7-0.76-0.27-0.74-0.96-0.36-0.72-0.71-0.70.98-0.92-0.330.98-0.53-0.79-0.93-0.68
0.740.650.840.50.5-0.74-0.260.730.75-0.220.530.530.080.640.510.750.72-0.360.270.58-0.360.28-0.180.22-0.16
0.960.520.720.820.82-0.93-0.50.730.960.20.380.890.360.470.790.960.97-0.580.270.07-0.58-0.10.250.290.31
1.00.720.840.850.84-0.81-0.70.750.960.340.410.940.560.510.871.01.0-0.770.530.26-0.770.140.390.540.36
0.350.270.110.280.290.05-0.76-0.220.20.340.190.520.720.180.40.350.37-0.650.67-0.21-0.650.081.00.760.53
0.410.260.43-0.13-0.13-0.32-0.270.530.380.410.190.170.010.99-0.060.410.4-0.180.250.13-0.180.240.190.250.14
0.940.650.690.930.93-0.73-0.740.530.890.940.520.170.660.270.950.940.95-0.810.560.11-0.810.010.570.60.38
0.570.760.590.580.57-0.01-0.960.080.360.560.720.010.660.10.710.570.56-0.960.90.34-0.960.540.760.910.69
0.510.390.56-0.02-0.02-0.38-0.360.640.470.510.180.990.270.10.060.510.5-0.290.340.25-0.290.320.190.330.16
0.870.730.710.980.98-0.63-0.720.510.790.870.4-0.060.950.710.060.870.87-0.820.590.28-0.820.130.460.60.32
1.00.730.840.850.85-0.81-0.710.750.961.00.350.410.940.570.510.871.0-0.780.540.26-0.780.150.410.550.37
1.00.690.810.850.85-0.82-0.70.720.971.00.370.40.950.560.50.871.0-0.760.510.21-0.760.10.420.530.37
-0.78-0.87-0.78-0.71-0.70.270.98-0.36-0.58-0.77-0.65-0.18-0.81-0.96-0.29-0.82-0.78-0.76-0.9-0.421.0-0.53-0.7-0.9-0.61
0.540.850.670.410.410.04-0.920.270.270.530.670.250.560.90.340.590.540.51-0.90.57-0.90.730.70.990.41
0.260.790.710.170.170.05-0.330.580.070.26-0.210.130.110.340.250.280.260.21-0.420.57-0.420.86-0.170.48-0.15
-0.78-0.87-0.78-0.71-0.70.270.98-0.36-0.58-0.77-0.65-0.18-0.81-0.96-0.29-0.82-0.78-0.761.0-0.9-0.42-0.53-0.7-0.9-0.61
0.150.750.61-0.03-0.040.34-0.530.28-0.10.140.080.240.010.540.320.130.150.1-0.530.730.86-0.530.110.640.23
0.410.320.170.340.340.0-0.79-0.180.250.391.00.190.570.760.190.460.410.42-0.70.7-0.17-0.70.110.780.55
0.550.80.620.430.430.02-0.930.220.290.540.760.250.60.910.330.60.550.53-0.90.990.48-0.90.640.780.43
0.370.30.290.270.250.0-0.68-0.160.310.360.530.140.380.690.160.320.370.37-0.610.41-0.15-0.610.230.550.43
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Elevation Oncology Account Relationship Matchups

Thematic Opportunities

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Additional Tools for Elevation Stock Analysis

When running Elevation Oncology's price analysis, check to measure Elevation Oncology's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Elevation Oncology is operating at the current time. Most of Elevation Oncology's value examination focuses on studying past and present price action to predict the probability of Elevation Oncology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elevation Oncology's price. Additionally, you may evaluate how the addition of Elevation Oncology to your portfolios can decrease your overall portfolio volatility.