HITECH Gross Profit vs Total Other Income Expense Net Analysis

HITECH Stock   170.46  1.66  0.96%   
Hi Tech financial indicator trend analysis is much more than just examining Hi Tech Pipes latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Hi Tech Pipes is a good investment. Please check the relationship between Hi Tech Gross Profit and its Total Other Income Expense Net accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hi Tech Pipes Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Gross Profit vs Total Other Income Expense Net

Gross Profit vs Total Other Income Expense Net Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Hi Tech Pipes Gross Profit account and Total Other Income Expense Net. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between Hi Tech's Gross Profit and Total Other Income Expense Net is -0.55. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Total Other Income Expense Net in the same time period over historical financial statements of Hi Tech Pipes Limited, assuming nothing else is changed. The correlation between historical values of Hi Tech's Gross Profit and Total Other Income Expense Net is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Gross Profit of Hi Tech Pipes Limited are associated (or correlated) with its Total Other Income Expense Net. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Other Income Expense Net has no effect on the direction of Gross Profit i.e., Hi Tech's Gross Profit and Total Other Income Expense Net go up and down completely randomly.

Correlation Coefficient

-0.55
Relationship DirectionNegative 
Relationship StrengthVery Weak

Gross Profit

Gross profit is a required income statement account that reflects total revenue of Hi Tech Pipes Limited minus its cost of goods sold. It is profit before Hi Tech operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Total Other Income Expense Net

Most indicators from Hi Tech's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Hi Tech Pipes 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hi Tech Pipes Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.
At present, Hi Tech's Selling General Administrative is projected to increase significantly based on the last few years of reporting. The current year's Issuance Of Capital Stock is expected to grow to about 1.2 B, whereas Tax Provision is forecasted to decline to about 86 M.
 2021 2022 2023 2024 (projected)
Gross Profit1.8B2.1B2.4B1.3B
Total Revenue18.8B23.9B27.0B28.3B

Hi Tech fundamental ratios Correlations

0.76-0.390.880.990.990.780.970.9-0.471.00.89-0.150.840.760.780.870.350.870.880.810.750.890.860.990.29
0.76-0.690.880.670.811.00.690.47-0.630.770.43-0.450.890.680.950.850.130.930.850.980.860.650.820.680.22
-0.39-0.69-0.45-0.31-0.46-0.67-0.29-0.10.73-0.42-0.080.66-0.56-0.43-0.55-0.390.28-0.5-0.39-0.66-0.47-0.45-0.32-0.32-0.05
0.880.88-0.450.830.890.890.840.77-0.530.880.72-0.110.970.810.890.990.30.990.990.930.850.730.950.860.45
0.990.67-0.310.830.970.680.980.94-0.420.980.95-0.090.790.730.690.830.40.80.840.730.670.910.810.990.25
0.990.81-0.460.890.970.820.970.87-0.531.00.86-0.190.850.770.820.880.320.890.890.840.770.880.860.980.3
0.781.0-0.670.890.680.820.710.49-0.640.790.44-0.450.890.680.960.860.170.940.860.980.850.640.830.70.23
0.970.69-0.290.840.980.970.710.92-0.50.970.9-0.130.770.660.730.850.410.830.850.740.620.830.80.980.28
0.90.47-0.10.770.940.870.490.92-0.310.890.980.190.70.70.540.780.380.710.790.550.540.780.750.950.44
-0.47-0.630.73-0.53-0.42-0.53-0.64-0.5-0.31-0.5-0.240.61-0.58-0.25-0.57-0.510.1-0.56-0.49-0.62-0.3-0.4-0.34-0.46-0.24
1.00.77-0.420.880.981.00.790.970.89-0.50.89-0.160.840.770.80.880.340.880.880.810.750.890.860.990.31
0.890.43-0.080.720.950.860.440.90.98-0.240.890.150.650.680.480.730.460.650.740.520.520.840.720.940.31
-0.15-0.450.66-0.11-0.09-0.19-0.45-0.130.190.61-0.160.15-0.230.2-0.24-0.020.21-0.16-0.07-0.41-0.03-0.280.07-0.060.56
0.840.89-0.560.970.790.850.890.770.7-0.580.840.65-0.230.760.830.920.180.950.950.950.820.760.880.80.34
0.760.68-0.430.810.730.770.680.660.7-0.250.770.680.20.760.750.840.340.810.820.710.890.650.890.750.56
0.780.95-0.550.890.690.820.960.730.54-0.570.80.48-0.240.830.750.90.260.950.870.920.880.560.880.720.42
0.870.85-0.390.990.830.880.860.850.78-0.510.880.73-0.020.920.840.90.40.980.990.890.850.680.970.860.51
0.350.130.280.30.40.320.170.410.380.10.340.460.210.180.340.260.40.30.40.160.280.360.450.40.01
0.870.93-0.50.990.80.890.940.830.71-0.560.880.65-0.160.950.810.950.980.30.980.950.880.690.950.830.45
0.880.85-0.390.990.840.890.860.850.79-0.490.880.74-0.070.950.820.870.990.40.980.90.830.720.960.870.43
0.810.98-0.660.930.730.840.980.740.55-0.620.810.52-0.410.950.710.920.890.160.950.90.860.710.850.740.23
0.750.86-0.470.850.670.770.850.620.54-0.30.750.52-0.030.820.890.880.850.280.880.830.860.640.910.680.43
0.890.65-0.450.730.910.880.640.830.78-0.40.890.84-0.280.760.650.560.680.360.690.720.710.640.690.870.02
0.860.82-0.320.950.810.860.830.80.75-0.340.860.720.070.880.890.880.970.450.950.960.850.910.690.830.5
0.990.68-0.320.860.990.980.70.980.95-0.460.990.94-0.060.80.750.720.860.40.830.870.740.680.870.830.34
0.290.22-0.050.450.250.30.230.280.44-0.240.310.310.560.340.560.420.510.010.450.430.230.430.020.50.34
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Hi Tech Account Relationship Matchups

Hi Tech fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets5.7B6.0B7.7B9.2B11.8B12.4B
Short Long Term Debt Total3.2B3.2B3.9B2.4B4.0B2.6B
Other Current Liab2.5M76.8M74.3M158.7M84.7M89.8M
Total Current Liabilities2.9B2.6B3.4B3.8B4.7B2.8B
Total Stockholder Equity1.7B2.1B2.6B4.2B5.8B6.1B
Property Plant And Equipment Net2.1B2.4B2.7B3.2B4.2B4.4B
Net Debt3.1B3.2B3.9B2.3B4.0B2.5B
Retained Earnings862.0M1.1B1.5B1.9B2.3B2.4B
Accounts Payable560.6M492.3M796.6M1.7B1.6B1.7B
Cash7.3M6.3M9.0M18.9M23.3M38.4M
Non Current Assets Total2.1B2.4B2.8B3.6B4.6B4.9B
Non Currrent Assets Other36.1M52.4M66.3M389.8M433.9M455.6M
Cash And Short Term Investments7.3M6.3M9.0M211.7M23.3M22.2M
Net Receivables1.8B1.2B1.7B1.9B2.8B1.5B
Liabilities And Stockholders Equity5.7B6.0B7.7B9.2B11.8B12.4B
Non Current Liabilities Total1.0B1.3B1.7B1.2B1.4B912.7M
Inventory1.8B1.9B2.6B3.1B3.5B1.8B
Total Liab3.9B3.9B5.1B5.0B6.0B3.8B
Total Current Assets3.6B3.6B4.9B5.5B7.2B3.7B
Short Term Debt2.2B2.0B2.4B1.8B3.0B1.8B
Common Stock109.3M112.1M122.7M127.8M149.9M102.1M
Other Stockholder Equity987.6M462.0M619.8M967.6M2.5B2.6B
Other Liab136.8M168.9M203.6M254.9M293.1M164.8M
Net Tangible Assets1.7B2.1B2.6B4.2B4.8B5.0B
Current Deferred Revenue120.8M99.4M164.1M538.6M42.2M40.1M
Other Assets66.0M(1K)110.1M2.7M3.1M2.9M
Long Term Debt936.1M631.0M378.3M940.3M1.1B763.3M
Short Long Term Debt2.2B1.8B2.2B1.4B2.6B1.7B
Accumulated Other Comprehensive Income(222.8M)396.8M353.1M1.2B841.4M883.4M
Intangible Assets475K125K200K5.7M5.3M5.6M
Property Plant Equipment2.0B2.3B2.7B2.3B2.6B1.8B
Long Term Debt Total974.3M659.4M393.8M155.4M139.9M132.9M
Short Term Investments(36.1M)162.9M161.7M192.8M236.6M248.4M
Net Invested Capital4.9B5.0B6.2B6.5B9.4B6.3B
Net Working Capital672.3M964.6M1.5B1.7B2.5B1.3B
Capital Stock109.3M112.1M122.7M127.8M149.9M133.6M

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Other Information on Investing in HITECH Stock

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