Cannara Days Payables Outstanding vs Average Inventory Analysis

LOVE Stock  CAD 0.70  0.02  2.78%   
Cannara Biotech financial indicator trend analysis is way more than just evaluating Cannara Biotech prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Cannara Biotech is a good investment. Please check the relationship between Cannara Biotech Days Payables Outstanding and its Average Inventory accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Cannara Biotech. 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.

Days Payables Outstanding vs Average Inventory

Days Payables Outstanding vs Average Inventory Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Cannara Biotech Days Payables Outstanding account and Average Inventory. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between Cannara Biotech's Days Payables Outstanding and Average Inventory is -0.67. Overlapping area represents the amount of variation of Days Payables Outstanding that can explain the historical movement of Average Inventory in the same time period over historical financial statements of Cannara Biotech, assuming nothing else is changed. The correlation between historical values of Cannara Biotech's Days Payables Outstanding and Average Inventory is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Days Payables Outstanding of Cannara Biotech are associated (or correlated) with its Average Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Average Inventory has no effect on the direction of Days Payables Outstanding i.e., Cannara Biotech's Days Payables Outstanding and Average Inventory go up and down completely randomly.

Correlation Coefficient

-0.67
Relationship DirectionNegative 
Relationship StrengthWeak

Days Payables Outstanding

Average Inventory

The average amount of inventory a company holds over a certain period, which is used to calculate inventory turnover and efficiency in managing stock levels.
Most indicators from Cannara Biotech's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Cannara Biotech 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 Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Cannara Biotech. 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.
At this time, Cannara Biotech's Enterprise Value Over EBITDA is fairly stable compared to the past year. Enterprise Value Multiple is likely to climb to 7.13 in 2024, whereas Selling General Administrative is likely to drop slightly above 9.7 M in 2024.
 2021 2022 2023 2024 (projected)
Gross Profit17.3M27.2M31.3M32.9M
Total Revenue35.8M57.3M65.8M69.1M

Cannara Biotech fundamental ratios Correlations

0.890.990.97-0.750.9-0.510.99-0.50.940.88-0.60.94-0.790.840.971.00.950.960.890.950.98-0.860.870.87-0.87
0.890.870.82-0.581.0-0.640.86-0.480.830.98-0.850.83-0.890.730.870.880.870.830.820.80.83-0.760.990.76-0.77
0.990.870.99-0.820.89-0.480.99-0.610.870.84-0.560.88-0.720.90.910.990.90.990.840.980.99-0.880.830.83-0.89
0.970.820.99-0.870.85-0.430.99-0.640.850.79-0.460.85-0.670.930.880.970.850.990.80.990.99-0.890.780.85-0.9
-0.75-0.58-0.82-0.87-0.620.38-0.830.81-0.6-0.540.16-0.60.4-0.95-0.61-0.76-0.52-0.89-0.44-0.91-0.850.92-0.53-0.780.91
0.91.00.890.85-0.62-0.620.89-0.510.830.98-0.810.84-0.880.770.870.90.870.860.820.840.86-0.780.980.78-0.79
-0.51-0.64-0.48-0.430.38-0.62-0.550.14-0.53-0.650.61-0.540.74-0.32-0.55-0.52-0.41-0.49-0.26-0.47-0.520.69-0.7-0.540.7
0.990.860.990.99-0.830.89-0.55-0.570.910.85-0.530.91-0.760.880.940.990.890.990.820.981.0-0.920.840.89-0.92
-0.5-0.48-0.61-0.640.81-0.510.14-0.57-0.25-0.360.23-0.260.09-0.87-0.31-0.5-0.32-0.68-0.26-0.69-0.570.66-0.4-0.450.66
0.940.830.870.85-0.60.83-0.530.91-0.250.89-0.541.0-0.870.650.990.940.930.830.910.820.9-0.770.840.92-0.78
0.880.980.840.79-0.540.98-0.650.85-0.360.89-0.80.89-0.950.660.90.880.880.80.850.780.82-0.740.990.82-0.76
-0.6-0.85-0.56-0.460.16-0.810.61-0.530.23-0.54-0.8-0.540.73-0.37-0.62-0.59-0.69-0.49-0.63-0.44-0.480.42-0.86-0.360.44
0.940.830.880.85-0.60.84-0.540.91-0.261.00.89-0.54-0.870.660.990.940.930.840.910.830.9-0.770.840.92-0.78
-0.79-0.89-0.72-0.670.4-0.880.74-0.760.09-0.87-0.950.73-0.87-0.46-0.86-0.8-0.8-0.67-0.76-0.65-0.730.67-0.93-0.780.67
0.840.730.90.93-0.950.77-0.320.88-0.870.650.66-0.370.66-0.460.690.840.680.940.610.950.89-0.880.670.76-0.87
0.970.870.910.88-0.610.87-0.550.94-0.310.990.9-0.620.99-0.860.690.970.970.870.920.860.92-0.790.870.88-0.8
1.00.880.990.97-0.760.9-0.520.99-0.50.940.88-0.590.94-0.80.840.970.940.960.890.950.98-0.870.870.88-0.87
0.950.870.90.85-0.520.87-0.410.89-0.320.930.88-0.690.93-0.80.680.970.940.840.980.820.88-0.670.860.77-0.69
0.960.830.990.99-0.890.86-0.490.99-0.680.830.8-0.490.84-0.670.940.870.960.840.761.00.99-0.930.80.85-0.93
0.890.820.840.8-0.440.82-0.260.82-0.260.910.85-0.630.91-0.760.610.920.890.980.760.750.81-0.560.80.73-0.57
0.950.80.980.99-0.910.84-0.470.98-0.690.820.78-0.440.83-0.650.950.860.950.821.00.750.99-0.930.770.85-0.93
0.980.830.990.99-0.850.86-0.521.0-0.570.90.82-0.480.9-0.730.890.920.980.880.990.810.99-0.920.810.89-0.92
-0.86-0.76-0.88-0.890.92-0.780.69-0.920.66-0.77-0.740.42-0.770.67-0.88-0.79-0.87-0.67-0.93-0.56-0.93-0.92-0.75-0.881.0
0.870.990.830.78-0.530.98-0.70.84-0.40.840.99-0.860.84-0.930.670.870.870.860.80.80.770.81-0.750.77-0.76
0.870.760.830.85-0.780.78-0.540.89-0.450.920.82-0.360.92-0.780.760.880.880.770.850.730.850.89-0.880.77-0.88
-0.87-0.77-0.89-0.90.91-0.790.7-0.920.66-0.78-0.760.44-0.780.67-0.87-0.8-0.87-0.69-0.93-0.57-0.93-0.921.0-0.76-0.88
Click cells to compare fundamentals

Cannara Biotech Account Relationship Matchups

Cannara Biotech fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets54.9M92.0M125.6M141.5M162.8M93.7M
Total Current Liabilities3.5M6.8M11.9M21.2M24.4M25.6M
Total Stockholder Equity38.4M64.1M66.7M79.7M91.7M57.0M
Net Tangible Assets46.9M38.2M64.1M66.7M76.7M50.7M
Retained Earnings(27.1M)(28.6M)(26.3M)(19.3M)(17.4M)(18.3M)
Accounts Payable2.8M6.2M8.8M13.9M16.0M16.8M
Cash7.8M8.2M12.1M4.3M3.8M3.7M
Non Current Assets Total44.3M72.8M84.6M89.8M103.3M63.7M
Other Assets733.8K514.2K1.0M1.2M1.1M808.0K
Long Term Debt12.0M20.2M46.2M39.6M45.6M26.2M
Net Receivables26.4K2.8M8.5M10.6M12.2M12.8M
Common Stock Shares Outstanding737.7M876.5M877.0M90.3M81.3M77.2M
Non Current Liabilities Total13.0M21.1M47.0M40.6M46.7M27.1M
Capital Lease Obligations651.8K442.5K236.7K176.0K158.4K150.5K
Other Stockholder Equity(10.1K)45.7K100.1K15.1K17.4K18.3K
Total Liab16.5M27.9M58.9M61.8M71.0M36.2M
Net Invested Capital50.6M84.6M114.9M125.4M144.2M84.8M
Total Current Assets10.5M19.2M41.0M51.7M59.5M30.0M
Capital Stock58.4M83.2M83.3M88.8M102.1M70.5M
Net Working Capital7.1M12.4M29.1M30.5M35.1M20.9M
Common Stock54.9M58.4M83.2M83.3M95.8M65.4M
Property Plant Equipment39.3M43.6M71.7M83.4M95.9M55.4M
Inventory2.2M7.4M19.0M33.8M38.8M40.8M

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked. Macroaxis thematic optimization helps investors identify companies most likely to benefit from changes or shifts in various micro-economic or local macro-level trends. Originating optimal thematic portfolios involves aligning investors' personal views, ideas, and beliefs with their actual investments.
Explore Investing Ideas  

Additional Tools for Cannara Stock Analysis

When running Cannara Biotech's price analysis, check to measure Cannara Biotech'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 Cannara Biotech is operating at the current time. Most of Cannara Biotech's value examination focuses on studying past and present price action to predict the probability of Cannara Biotech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cannara Biotech's price. Additionally, you may evaluate how the addition of Cannara Biotech to your portfolios can decrease your overall portfolio volatility.