Nova Cannabis Net Income vs. Price To Book
| NVACFDelisted Stock | USD 1.26 0.00 0.00% |
For Nova Cannabis profitability analysis, we use financial ratios and fundamental drivers that measure the ability of Nova Cannabis to generate income relative to revenue, assets, operating costs, and current equity. These fundamental indicators attest to how well Nova Cannabis utilizes its assets to generate profit and value for its shareholders. The profitability module also shows relationships between Nova Cannabis's most relevant fundamental drivers. It provides multiple suggestions of what could affect the performance of Nova Cannabis over time as well as its relative position and ranking within its peers.
Nova |
Nova Cannabis Price To Book vs. Net Income Fundamental Analysis
Comparative valuation techniques use various fundamental indicators to help in determining Nova Cannabis's current stock value. Our valuation model uses many indicators to compare Nova Cannabis value to that of its competitors to determine the firm's financial worth. Nova Cannabis is regarded second in net income category among its peers. It is considered to be number one stock in price to book category among its peers . The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Nova Cannabis' earnings, one of the primary drivers of an investment's value.Nova Price To Book vs. Net Income
Net income is the profit of a company for the reporting period, which is derived after taking revenues and gains and subtracting all expenses and losses. Net income is one of the most-watched numbers by money managers as well as individual investors.
Nova Cannabis |
| = | (20.61 M) |
Because income is reported on the Income Statement of a company and is measured in dollars some investors prefer to use Profit Margin, which measures income as a percentage of sales.
Price to Book (P/B) ratio is used to relate a company book value to its current market price. A high P/B ratio indicates that investors expect executives to generate more returns on their investments from a given set of assets. Book value is the accounting value of assets minus liabilities.
Nova Cannabis |
| = | 0.44 X |
Price to Book ratio is mostly used in financial services industries where assets and liabilities are typically represented by dollars. Although low Price to Book ratio generally implies that the firm is undervalued, it is often a good indicator that the company may be in financial or managerial distress and should be investigated more carefully.
Nova Price To Book Comparison
Nova Cannabis is currently under evaluation in price to book category among its peers.
Nova Cannabis Profitability Projections
The most important aspect of a successful company is its ability to generate a profit. For investors in Nova Cannabis, profitability is also one of the essential criteria for including it into their portfolios because, without profit, Nova Cannabis will eventually generate negative long term returns. The profitability progress is the general direction of Nova Cannabis' change in net profit over the period of time. It can combine multiple indicators of Nova Cannabis, where stable trends show no significant progress. An accelerating trend is seen as positive, while a decreasing one is unfavorable. A rising trend means that profits are rising, and operational efficiency may be rising as well. A decreasing trend is a sign of poor performance and may indicate upcoming losses.
Nova Cannabis Inc. engages in the operation of retail cannabis stores with a focus on the recreational-use cannabis market in Canada. As of March 31, 2022, the company operated 78 cannabis stores in Alberta, Ontario, and Saskatchewan. Nova Cannabis operates under Pharmaceutical Retailers classification in the United States and is traded on OTC Exchange. It employs 548 people.
Nova Profitability Driver Comparison
Profitability drivers are factors that can directly affect your investment outlook on Nova Cannabis. Investors often realize that things won't turn out the way they predict. There are maybe way too many unforeseen events and contingencies during the holding period of Nova Cannabis position where the market behavior may be hard to predict, tax policy changes, gold or oil price hikes, calamities change, and many others. The question is, are you prepared for these unexpected events? Although some of these situations are obviously beyond your control, you can still follow the important profit indicators to know where you should focus on when things like this occur. Below are some of the Nova Cannabis' important profitability drivers and their relationship over time.
Use Nova Cannabis in pair-trading
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 Nova Cannabis 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 Nova Cannabis will appreciate offsetting losses from the drop in the long position's value.Nova Cannabis Pair Trading
Nova Cannabis Pair Trading Analysis
The ability to find closely correlated positions to Nova Cannabis could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nova Cannabis 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 Nova Cannabis - 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 Nova Cannabis to buy it.
The correlation of Nova Cannabis 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 Nova Cannabis moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nova Cannabis 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 Nova Cannabis 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.Use Investing Themes to Complement your Nova Cannabis position
In addition to having Nova Cannabis in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Did You Try This Idea?
Run Cars Thematic Idea Now
Cars
Domestic and international companies involved in manufacturing and serving automobiles and trucks. The Cars theme has 47 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Cars Theme or any other thematic opportunities.
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Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any otc stock could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators. Note that the Nova Cannabis information on this page should be used as a complementary analysis to other Nova Cannabis' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Other Consideration for investing in Nova OTC Stock
If you are still planning to invest in Nova Cannabis check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Nova Cannabis' history and understand the potential risks before investing.
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