ITP Total Current Assets vs Net Working Capital Analysis
ITP Stock | USD 0.20 0.01 4.76% |
IT Tech financial indicator trend analysis is infinitely more than just investigating IT Tech Packaging recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether IT Tech Packaging is a good investment. Please check the relationship between IT Tech Total Current Assets and its Net Working Capital accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in IT Tech Packaging. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.
Total Current Assets vs Net Working Capital
Total Current Assets vs Net Working Capital Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of IT Tech Packaging Total Current Assets account and Net Working Capital. At this time, the significance of the direction appears to have very strong relationship.
The correlation between IT Tech's Total Current Assets and Net Working Capital is 0.8. Overlapping area represents the amount of variation of Total Current Assets that can explain the historical movement of Net Working Capital in the same time period over historical financial statements of IT Tech Packaging, assuming nothing else is changed. The correlation between historical values of IT Tech's Total Current Assets and Net Working Capital 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 Current Assets of IT Tech Packaging are associated (or correlated) with its Net Working Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Working Capital has no effect on the direction of Total Current Assets i.e., IT Tech's Total Current Assets and Net Working Capital go up and down completely randomly.
Correlation Coefficient | 0.8 |
Relationship Direction | Positive |
Relationship Strength | Strong |
Total Current Assets
The total value of all assets that are expected to be converted into cash within one year or during the normal operating cycle.Net Working Capital
Most indicators from IT Tech's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into IT Tech Packaging 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 IT Tech Packaging. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate. At this time, IT Tech's Tax Provision is relatively stable compared to the past year. As of 12/14/2024, Sales General And Administrative To Revenue is likely to grow to 0.09, while Selling General Administrative is likely to drop slightly above 6.7 M.
2021 | 2022 | 2023 | 2024 (projected) | Total Revenue | 160.9M | 100.4M | 86.5M | 120.2M | Depreciation And Amortization | 15.4M | 14.8M | 14.2M | 10.9M |
IT Tech fundamental ratios Correlations
Click cells to compare fundamentals
IT Tech Account Relationship Matchups
High Positive Relationship
High Negative Relationship
IT Tech fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 190.2M | 199.9M | 241.5M | 204.4M | 194.7M | 172.1M | |
Total Stockholder Equity | 166.0M | 175.1M | 215.7M | 181.3M | 168.3M | 141.7M | |
Retained Earnings | 114.8M | 109.2M | 110.1M | 93.6M | 83.6M | 82.9M | |
Non Current Assets Total | 166.2M | 185.0M | 186.0M | 157.3M | 166.4M | 147.8M | |
Non Currrent Assets Other | 2.6M | 2.6M | (12.8M) | (17.1M) | (79.6M) | (75.6M) | |
Other Assets | 14.5M | 163.8M | 57.1M | 1.0M | 1.2M | 1.1M | |
Common Stock Shares Outstanding | 2.2M | 2.6M | 6.0M | 10.0M | 10.1M | 10.6M | |
Liabilities And Stockholders Equity | 190.2M | 199.9M | 241.5M | 204.4M | 194.7M | 172.1M | |
Non Current Liabilities Total | 7.4M | 6.5M | 5.4M | 5.5M | 5.0M | 9.7M | |
Other Stockholder Equity | 51.2M | 54.0M | 88.9M | 89.2M | 102.5M | 107.7M | |
Total Liab | 24.2M | 24.8M | 25.8M | 23.1M | 26.4M | 30.4M | |
Common Stock | 22.7K | 28.5K | 99.1K | 10.1K | 11.6K | 11.0K | |
Short Long Term Debt Total | 15.1M | 16.6M | 16.1M | 15.4M | 12.4M | 24.3M | |
Other Current Liab | 8.7M | 6.1M | 7.4M | 7.0M | 13.8M | 14.5M | |
Total Current Liabilities | 16.8M | 18.3M | 20.4M | 17.6M | 21.4M | 21.9M | |
Property Plant And Equipment Net | 141.4M | 156.2M | 172.3M | 97.5M | 164.5M | 141.5M | |
Net Debt | 9.3M | 12.4M | 4.9M | 5.9M | 8.5M | 8.0M | |
Accounts Payable | 250.5K | 592.4K | 10.3K | 5.0K | 5.0K | 4.7K | |
Cash | 5.8M | 4.1M | 11.2M | 9.5M | 3.9M | 6.0M | |
Cash And Short Term Investments | 5.8M | 4.1M | 11.2M | 9.5M | 3.9M | 6.0M | |
Net Receivables | 10.6M | 8.3M | 12.7M | 21.2M | 14.8M | 15.6M | |
Inventory | 1.6M | 1.2M | 5.8M | 2.9M | 9.0M | 4.9M | |
Property Plant And Equipment Gross | 151.6M | 21.1M | 172.3M | 232.4M | 227.4M | 148.9M | |
Total Current Assets | 24.0M | 14.9M | 55.5M | 47.2M | 28.4M | 25.7M | |
Accumulated Other Comprehensive Income | 23.0K | 11.8M | 16.6M | (1.4M) | (4.5M) | (4.3M) | |
Short Term Debt | 7.8M | 11.6M | 13.0M | 10.7M | 7.5M | 14.6M | |
Long Term Debt | 7.4M | 4.6M | 3.0M | 4.2M | 4.5M | 5.0M | |
Other Current Assets | 552.0K | 1.2M | 885.0K | 584.5K | 598.0K | 619.1K | |
Property Plant Equipment | 151.6M | 147.5M | 128.9M | 154.2M | 177.3M | 149.9M | |
Intangible Assets | 11.7M | 12.5M | 12.8M | 57.7M | 81.5M | 85.6M | |
Net Tangible Assets | 166.0M | 175.1M | 215.7M | 181.3M | 208.5M | 188.4M | |
Retained Earnings Total Equity | 123.1M | 112.6M | 114.8M | 109.2M | 125.6M | 92.2M | |
Long Term Debt Total | 7.4M | 5.0M | 3.1M | 4.8M | 4.3M | 4.4M | |
Capital Surpluse | 51.2M | 54.0M | 88.9M | 89.2M | 102.5M | 62.6M | |
Non Current Liabilities Other | 10.7M | 2.2M | 7.4M | 5.0M | 4.5M | 5.9M |
Pair Trading with IT Tech
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 IT Tech 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 IT Tech will appreciate offsetting losses from the drop in the long position's value.Moving together with ITP Stock
0.65 | MAGN | Magnera Corp placeholder Symbol Change | PairCorr |
Moving against ITP Stock
The ability to find closely correlated positions to IT Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IT Tech 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 IT Tech - 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 IT Tech Packaging to buy it.
The correlation of IT Tech 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 IT Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if IT Tech Packaging 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 IT Tech 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.Additional Tools for ITP Stock Analysis
When running IT Tech's price analysis, check to measure IT Tech'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 IT Tech is operating at the current time. Most of IT Tech's value examination focuses on studying past and present price action to predict the probability of IT Tech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move IT Tech's price. Additionally, you may evaluate how the addition of IT Tech to your portfolios can decrease your overall portfolio volatility.