Erie Gross Profit vs Reconciled Depreciation Analysis
ERIE Stock | USD 381.74 1.48 0.39% |
Erie Indemnity financial indicator trend analysis is much more than just examining Erie Indemnity latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Erie Indemnity is a good investment. Please check the relationship between Erie Indemnity Gross Profit and its Reconciled Depreciation accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Erie Indemnity. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. For information on how to trade Erie Stock refer to our How to Trade Erie Stock guide.
Gross Profit vs Reconciled Depreciation
Gross Profit vs Reconciled Depreciation Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Erie Indemnity Gross Profit account and Reconciled Depreciation. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between Erie Indemnity's Gross Profit and Reconciled Depreciation is -0.51. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Reconciled Depreciation in the same time period over historical financial statements of Erie Indemnity, assuming nothing else is changed. The correlation between historical values of Erie Indemnity's Gross Profit and Reconciled Depreciation is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Gross Profit of Erie Indemnity are associated (or correlated) with its Reconciled Depreciation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Reconciled Depreciation has no effect on the direction of Gross Profit i.e., Erie Indemnity's Gross Profit and Reconciled Depreciation go up and down completely randomly.
Correlation Coefficient | -0.51 |
Relationship Direction | Negative |
Relationship Strength | Very Weak |
Gross Profit
Gross profit is a required income statement account that reflects total revenue of Erie Indemnity minus its cost of goods sold. It is profit before Erie Indemnity 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.Reconciled Depreciation
Most indicators from Erie Indemnity's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Erie Indemnity 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 Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Erie Indemnity. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. For information on how to trade Erie Stock refer to our How to Trade Erie Stock guide.At present, Erie Indemnity's Enterprise Value Over EBITDA is projected to decrease significantly based on the last few years of reporting. The current year's Enterprise Value Multiple is expected to grow to 28.57, whereas Selling General Administrative is forecasted to decline to about 49.9 M.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 2.7B | 376.8M | 511.2M | 485.7M | Total Revenue | 2.7B | 2.8B | 3.3B | 2.2B |
Erie Indemnity fundamental ratios Correlations
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Erie Indemnity Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Erie Indemnity fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 2.0B | 2.1B | 2.2B | 2.2B | 2.5B | 4.6B | |
Short Long Term Debt Total | 99.7M | 97.8M | 95.9M | 93.8M | 107.9M | 76.9M | |
Total Stockholder Equity | 1.1B | 1.2B | 1.3B | 1.4B | 1.7B | 971.0M | |
Property Plant And Equipment Net | 221.4M | 265.3M | 374.8M | 413.9M | 442.6M | 464.7M | |
Net Debt | (238.9M) | (65.4M) | (89.9M) | (142.1M) | (144.1M) | (151.3M) | |
Retained Earnings | 2.4B | 2.4B | 2.5B | 2.6B | 2.8B | 1.7B | |
Non Current Assets Total | 1.0B | 1.3B | 1.4B | 1.4B | 1.5B | 844.4M | |
Non Currrent Assets Other | (1.0B) | (1.3B) | (1.4B) | (14.1M) | 146.6M | 153.9M | |
Other Assets | 131.6M | 153.2M | 132.2M | 167.1M | 38.6M | 36.7M | |
Net Receivables | 469.1M | 497.3M | 479.1M | 524.9M | 634.8M | 881.9M | |
Common Stock Shares Outstanding | 52.7M | 52.7M | 52.7M | 52.7M | 52.7M | 56.2M | |
Liabilities And Stockholders Equity | 2.0B | 2.1B | 2.2B | 2.2B | 2.5B | 4.6B | |
Non Current Liabilities Total | 114.3M | 112.7M | 109.4M | 502.5M | 100.2M | 95.1M | |
Other Stockholder Equity | (1.1B) | (1.1B) | (1.1B) | (1.1B) | (1.2B) | (1.1B) | |
Total Liab | 883.0M | 929.1M | 899.6M | 791.0M | 847.8M | 805.4M | |
Total Current Assets | 838.6M | 676.2M | 701.2M | 691.3M | 930.2M | 816.3M | |
Other Current Liab | (435.8M) | (452.0M) | (446.1M) | (502.5M) | (41.2M) | (39.1M) | |
Total Current Liabilities | 435.8M | 452.0M | 446.1M | 502.5M | 709.0M | 673.5M | |
Accounts Payable | 397.9M | 413.0M | 409.1M | 465.9M | 175.6M | 151.1M | |
Cash | 336.7M | 161.2M | 183.7M | 142.1M | 144.1M | 179.3M | |
Cash And Short Term Investments | 369.5M | 178.9M | 222.1M | 166.4M | 226.1M | 214.8M | |
Short Term Investments | 32.8M | 17.7M | 38.4M | 24.3M | 82.0M | 77.9M | |
Other Current Assets | 521.9M | 58.7M | 62.5M | 87.5M | (860.9M) | (903.9M) | |
Property Plant And Equipment Gross | 83.1M | 130.8M | 221.4M | 265.3M | 305.1M | 320.4M | |
Accumulated Other Comprehensive Income | (116.9M) | (78.1M) | (25.3M) | (7.4M) | 9.7M | 10.2M | |
Other Liab | 188.8M | 207.6M | 177.0M | 125.9M | 113.3M | 107.7M | |
Property Plant Equipment | 243.8M | 265.3M | 374.8M | 413.9M | 476.0M | 499.8M | |
Net Tangible Assets | 1.1B | 1.2B | 1.3B | 1.4B | 1.3B | 1.5B | |
Long Term Debt | 97.9M | 95.8M | 93.8M | 91.7M | 105.5M | 110.8M | |
Retained Earnings Total Equity | 2.4B | 2.4B | 2.5B | 2.6B | 3.0B | 1.5B | |
Deferred Long Term Liab | 13.7M | 14.9M | 14.6M | 27.8M | 25.0M | 23.8M | |
Long Term Investments | 724.7M | 973.0M | 966.4M | 930.9M | 1.0B | 993.2M | |
Non Current Liabilities Other | 185.7M | 192.7M | 162.4M | 98.1M | 88.3M | 83.9M | |
Capital Surpluse | 16.5M | 16.5M | 16.5M | 16.5M | 19.0M | 18.1M | |
Short Term Debt | 2.0M | 2.0M | 2.1M | 300.0M | 533.4M | 560.0M | |
Long Term Debt Total | 97.9M | 95.8M | 93.8M | 91.7M | 105.5M | 87.8M |
Erie Indemnity Investors Sentiment
The influence of Erie Indemnity's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Erie. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Erie Indemnity's public news can be used to forecast risks associated with an investment in Erie. The trend in average sentiment can be used to explain how an investor holding Erie can time the market purely based on public headlines and social activities around Erie Indemnity. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Erie Indemnity's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Erie Indemnity's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Erie Indemnity's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Erie Indemnity.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Erie Indemnity in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Erie Indemnity's short interest history, or implied volatility extrapolated from Erie Indemnity options trading.
Pair Trading with Erie Indemnity
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 Erie Indemnity 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 Erie Indemnity will appreciate offsetting losses from the drop in the long position's value.Moving together with Erie Stock
0.74 | AJG | Arthur J Gallagher Financial Report 25th of July 2024 | PairCorr |
0.7 | AON | Aon PLC Downward Rally | PairCorr |
Moving against Erie Stock
0.59 | FANH | Fanhua Inc Potential Growth | PairCorr |
0.53 | ALIZY | Allianz SE ADR | PairCorr |
The ability to find closely correlated positions to Erie Indemnity could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Erie Indemnity 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 Erie Indemnity - 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 Erie Indemnity to buy it.
The correlation of Erie Indemnity 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 Erie Indemnity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Erie Indemnity 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 Erie Indemnity 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.Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Erie Indemnity. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. For information on how to trade Erie Stock refer to our How to Trade Erie Stock guide.You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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Is Erie Indemnity's industry 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 Erie Indemnity. If investors know Erie 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 Erie Indemnity 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 0.443 | Dividend Share 17.68 | Earnings Share 8.52 | Revenue Per Share 73.549 | Quarterly Revenue Growth 0.17 |
The market value of Erie Indemnity is measured differently than its book value, which is the value of Erie that is recorded on the company's balance sheet. Investors also form their own opinion of Erie Indemnity's value that differs from its market value or its book value, called intrinsic value, which is Erie Indemnity's 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 Erie Indemnity's market value can be influenced by many factors that don't directly affect Erie Indemnity's 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 Erie Indemnity's value and its price as these two are different measures arrived at by different means. Investors typically determine if Erie Indemnity is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Erie Indemnity's 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.