Sonos Income Tax Expense vs Gross Profit Analysis

SONO Stock  USD 14.52  0.36  2.42%   
Sonos financial indicator trend analysis is much more than just breaking down Sonos Inc prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Sonos Inc is a good investment. Please check the relationship between Sonos Income Tax Expense and its Gross Profit accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sonos 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 board of governors.

Income Tax Expense vs Gross Profit

Income Tax Expense vs Gross Profit Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Sonos Inc Income Tax Expense account and Gross Profit. At this time, the significance of the direction appears to have very week relationship.
The correlation between Sonos' Income Tax Expense and Gross Profit is 0.27. Overlapping area represents the amount of variation of Income Tax Expense that can explain the historical movement of Gross Profit in the same time period over historical financial statements of Sonos Inc, assuming nothing else is changed. The correlation between historical values of Sonos' Income Tax Expense and Gross Profit is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Income Tax Expense of Sonos Inc are associated (or correlated) with its Gross Profit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Gross Profit has no effect on the direction of Income Tax Expense i.e., Sonos' Income Tax Expense and Gross Profit go up and down completely randomly.

Correlation Coefficient

0.27
Relationship DirectionPositive 
Relationship StrengthVery Weak

Income Tax Expense

Gross Profit

Gross profit is a required income statement account that reflects total revenue of Sonos Inc minus its cost of goods sold. It is profit before Sonos 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.
Most indicators from Sonos' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Sonos 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 World Market Map to better understand how to build diversified portfolios, which includes a position in Sonos 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 board of governors.
At this time, Sonos' Selling General Administrative is very stable compared to the past year. As of the 11th of December 2024, Tax Provision is likely to grow to about 11.5 M, while Enterprise Value Over EBITDA is likely to drop 27.44.
 2021 2022 2023 2024 (projected)
Gross Profit796.4M716.5M689.4M587.0M
Total Revenue1.8B1.7B1.5B1.3B

Sonos fundamental ratios Correlations

0.970.970.980.890.940.70.90.790.81-0.530.750.70.90.570.260.890.760.890.960.41-0.830.97-0.94-0.490.72
0.970.950.960.860.950.620.870.840.76-0.530.790.610.910.50.270.810.690.860.920.34-0.880.97-0.89-0.570.63
0.970.950.920.820.90.560.970.820.69-0.450.830.590.870.440.20.870.740.870.980.32-0.810.98-0.85-0.430.61
0.980.960.920.880.930.770.830.740.84-0.640.720.730.880.630.260.870.760.850.880.45-0.860.93-0.94-0.610.74
0.890.860.820.880.850.70.760.520.8-0.480.460.770.90.60.410.830.740.810.840.49-0.750.79-0.88-0.420.78
0.940.950.90.930.850.70.810.770.88-0.460.680.750.880.610.50.790.770.830.90.37-0.850.92-0.94-0.560.77
0.70.620.560.770.70.70.450.270.92-0.490.370.890.570.860.450.710.820.590.570.55-0.470.56-0.87-0.40.87
0.90.870.970.830.760.810.450.720.58-0.390.80.550.820.340.150.890.710.780.940.3-0.80.92-0.75-0.440.56
0.790.840.820.740.520.770.270.720.47-0.40.760.220.670.190.040.490.380.750.80.05-0.670.89-0.65-0.350.26
0.810.760.690.840.80.880.920.580.47-0.50.40.930.720.820.650.720.880.710.710.5-0.630.69-0.95-0.470.94
-0.53-0.53-0.45-0.64-0.48-0.46-0.49-0.39-0.4-0.5-0.28-0.42-0.43-0.41-0.05-0.39-0.42-0.58-0.34-0.410.62-0.460.490.71-0.44
0.750.790.830.720.460.680.370.80.760.4-0.280.260.60.24-0.10.70.490.620.750.14-0.650.85-0.58-0.420.26
0.70.610.590.730.770.750.890.550.220.93-0.420.260.660.80.680.760.870.610.630.57-0.570.55-0.86-0.441.0
0.90.910.870.880.90.880.570.820.670.72-0.430.60.660.320.350.80.660.790.870.12-0.830.86-0.84-0.50.67
0.570.50.440.630.60.610.860.340.190.82-0.410.240.80.320.510.560.730.470.450.85-0.410.43-0.74-0.380.79
0.260.270.20.260.410.50.450.150.040.65-0.05-0.10.680.350.510.180.610.240.250.25-0.280.15-0.46-0.250.71
0.890.810.870.870.830.790.710.890.490.72-0.390.70.760.80.560.180.780.730.870.48-0.730.83-0.84-0.430.75
0.760.690.740.760.740.770.820.710.380.88-0.420.490.870.660.730.610.780.660.730.49-0.580.67-0.83-0.40.88
0.890.860.870.850.810.830.590.780.750.71-0.580.620.610.790.470.240.730.660.890.38-0.640.87-0.84-0.30.63
0.960.920.980.880.840.90.570.940.80.71-0.340.750.630.870.450.250.870.730.890.32-0.730.96-0.88-0.30.65
0.410.340.320.450.490.370.550.30.050.5-0.410.140.570.120.850.250.480.490.380.32-0.330.29-0.47-0.320.55
-0.83-0.88-0.81-0.86-0.75-0.85-0.47-0.8-0.67-0.630.62-0.65-0.57-0.83-0.41-0.28-0.73-0.58-0.64-0.73-0.33-0.820.720.84-0.58
0.970.970.980.930.790.920.560.920.890.69-0.460.850.550.860.430.150.830.670.870.960.29-0.82-0.86-0.460.56
-0.94-0.89-0.85-0.94-0.88-0.94-0.87-0.75-0.65-0.950.49-0.58-0.86-0.84-0.74-0.46-0.84-0.83-0.84-0.88-0.470.72-0.860.44-0.87
-0.49-0.57-0.43-0.61-0.42-0.56-0.4-0.44-0.35-0.470.71-0.42-0.44-0.5-0.38-0.25-0.43-0.4-0.3-0.3-0.320.84-0.460.44-0.44
0.720.630.610.740.780.770.870.560.260.94-0.440.261.00.670.790.710.750.880.630.650.55-0.580.56-0.87-0.44
Click cells to compare fundamentals

Sonos Account Relationship Matchups

Sonos fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets816.1M1.1B1.2B1.0B916.3M769.8M
Other Current Liab103.6M197.6M155.0M133.5M142.2M96.5M
Total Current Liabilities393.0M476.1M535.6M354.2M366.2M340.0M
Total Stockholder Equity297.8M569.0M560.5M518.7M428.6M314.8M
Other Liab53.4M56.6M59.7M66.6M76.6M50.8M
Net Tangible Assets279.9M255.9M529.0M392.1M451.0M473.5M
Retained Earnings(228.5M)(69.9M)(2.5M)(12.8M)(50.9M)(53.5M)
Accounts Payable250.3M215.0M335.8M188.0M194.6M191.2M
Cash407.1M640.1M274.9M220.2M169.7M276.1M
Other Assets3.3M10.6M36.1M38.1M43.9M46.0M
Net Receivables54.9M100.8M101.2M67.6M44.5M68.3M
Common Stock Total Equity110K114K129K130K149.5K96.0K
Inventory180.8M185.1M454.3M346.5M231.5M206.9M
Other Current Assets17.5M31.5M74.1M25.3M53.9M56.6M
Other Stockholder Equity528.1M640.2M566.5M534.8M481.1M340.1M
Total Liab518.2M569.8M627.9M483.6M487.7M464.8M
Total Current Assets660.4M957.5M867.4M659.6M551.1M575.9M
Accumulated Other Comprehensive Income(1.9M)(1.4M)(3.6M)(3.4M)(1.7M)(1.8M)
Treasury Stock(13.5M)(20.9M)(50.3M)(50.9M)(45.8M)(43.5M)
Short Term Debt17.6M10.7M10.5M1.2M7.6M7.2M
Intangible Assets26.4M24.5M91.1M90.0M103.4M108.5M
Common Stock110K114K129K130K123K97.8K
Property Plant Equipment78.1M60.8M71.3M114.5M131.7M85.0M
Common Stock Shares Outstanding109.8M140.3M137.8M127.7M123.2M116.3M
Short Long Term Debt Total86.2M44.7M36.1M56.1M64.1M45.7M
Property Plant And Equipment Net103.1M105.2M114.5M136.0M152.3M117.4M
Current Deferred Revenue15.3M35.9M27.3M20.2M21.8M20.0M
Net Debt(320.9M)(595.4M)(238.7M)(164.1M)(105.6M)(110.9M)
Non Current Assets Total155.7M181.3M321.0M342.6M365.2M201.0M
Non Currrent Assets Other8.8M26.1M36.6M16.5M16.4M13.0M
Cash And Short Term Investments407.1M640.1M274.9M220.2M221.2M286.4M
Liabilities And Stockholders Equity816.1M1.1B1.2B1.0B916.3M866.5M
Non Current Liabilities Total125.2M93.6M92.2M129.4M121.5M97.0M
Property Plant And Equipment Gross103.1M265.3M114.5M136.0M330.4M346.9M

Pair Trading with Sonos

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 Sonos 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 Sonos will appreciate offsetting losses from the drop in the long position's value.

Moving together with Sonos Stock

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Moving against Sonos Stock

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The ability to find closely correlated positions to Sonos could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sonos 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 Sonos - 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 Sonos Inc to buy it.
The correlation of Sonos 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 Sonos moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sonos Inc 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 Sonos 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.
Pair CorrelationCorrelation Matching
When determining whether Sonos Inc offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Sonos' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Sonos Inc Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Sonos Inc Stock:
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sonos 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 board of governors.
You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Is Consumer Electronics space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Sonos. If investors know Sonos will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Sonos listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
0.123
Earnings Share
(0.31)
Revenue Per Share
12.32
Quarterly Revenue Growth
(0.16)
Return On Assets
(0.03)
The market value of Sonos Inc is measured differently than its book value, which is the value of Sonos that is recorded on the company's balance sheet. Investors also form their own opinion of Sonos' value that differs from its market value or its book value, called intrinsic value, which is Sonos' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Sonos' market value can be influenced by many factors that don't directly affect Sonos' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Sonos' value and its price as these two are different measures arrived at by different means. Investors typically determine if Sonos is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sonos' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.