NOV Stock | | | USD 14.98 0.11 0.73% |
NOV financial indicator trend analysis is infinitely more than just investigating NOV Inc recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether NOV Inc is a good investment. Please check the relationship between NOV Change Receivables and its Net Income accounts. Check out
Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NOV Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in persons.
Change Receivables vs Net Income
Change Receivables vs Net Income Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
NOV Inc Change Receivables account and
Net Income. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between NOV's Change Receivables and Net Income is -0.6. Overlapping area represents the amount of variation of Change Receivables that can explain the historical movement of Net Income in the same time period over historical financial statements of NOV Inc, assuming nothing else is changed. The correlation between historical values of NOV's Change Receivables and Net Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Change Receivables of NOV Inc are associated (or correlated) with its Net Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Income has no effect on the direction of Change Receivables i.e., NOV's Change Receivables and Net Income go up and down completely randomly.
Correlation Coefficient | -0.6 |
Relationship Direction | Negative |
Relationship Strength | Weak |
Change Receivables
The difference in the amount of accounts receivable from one accounting period to the next. A positive number indicates an increase in receivables, while a negative number indicates a decrease.
Net Income
Net income is one of the most important fundamental items in finance. It plays a large role in NOV Inc financial statement analysis. It represents the amount of money remaining after all of NOV Inc operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.
Most indicators from NOV's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into NOV Inc 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 NOV Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in persons.
At this time, NOV's
Tax Provision is fairly stable compared to the past year.
Enterprise Value Over EBITDA is likely to climb to 15.04 in 2024, whereas
Discontinued Operations is likely to drop slightly above 41.6
M in 2024.
NOV fundamental ratios Correlations
Click cells to compare fundamentals
NOV Account Relationship Matchups
High Positive Relationship
High Negative Relationship
NOV fundamental ratios Accounts
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.
Additional Tools for NOV Stock Analysis
When running NOV's price analysis, check to
measure NOV'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 NOV is operating at the current time. Most of NOV's value examination focuses on studying past and present price action to
predict the probability of NOV's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NOV's price. Additionally, you may evaluate how the addition of NOV to your portfolios can decrease your overall portfolio volatility.