Canadian Net Income vs Total Other Income Expense Net Analysis

CTC-A Stock

CAD 172.23 2.09 1.23%

Canadian TireLimited financial indicator trend analysis is way more than just evaluating Canadian TireLimited prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canadian TireLimited is a good investment. Please check the relationship between Canadian TireLimited Net Income and its Total Other Income Expense Net accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Tire. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Net Income vs Total Other Income Expense Net

Net Income vs Total Other Income Expense Net Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canadian TireLimited Net Income account and Total Other Income Expense Net. At this time, the significance of the direction appears to have very week relationship.

The correlation between Canadian TireLimited's Net Income and Total Other Income Expense Net is 0.26. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Total Other Income Expense Net in the same time period over historical financial statements of Canadian Tire, assuming nothing else is changed. The correlation between historical values of Canadian TireLimited's Net Income and Total Other Income Expense Net is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Income of Canadian Tire are associated (or correlated) with its Total Other Income Expense Net. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Other Income Expense Net has no effect on the direction of Net Income i.e., Canadian TireLimited's Net Income and Total Other Income Expense Net go up and down completely randomly.

Correlation Coefficient

0.26

Relationship Direction	Positive
Relationship Strength	Very Weak

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Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in Canadian TireLimited financial statement analysis. It represents the amount of money remaining after all of Canadian Tire operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Total Other Income Expense Net

Most indicators from Canadian TireLimited's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Canadian TireLimited 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Tire. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

At this time, Canadian TireLimited's Tax Provision is comparatively stable compared to the past year. Enterprise Value is likely to gain to about 16.7 B in 2025, whereas Selling General Administrative is likely to drop slightly above 2.3 B in 2025.

	2022	2023	2024	2025 (projected)
Interest Expense	87.6M	361.3M	103.8M	118.3M
Depreciation And Amortization	743.5M	802.2M	922.5M	968.7M

Interest Expense Depreciation And Amortization

Canadian TireLimited fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Short Term Debt	Intangible Assets	Good Will	Current Deferred Revenue	Short Term Investments
Total Assets		0.73	0.62	0.97	0.81	0.96	0.89	0.87	0.96	0.29	0.99	0.6	0.35	0.01	-0.84	0.84	0.97	0.61	-0.55	0.87	0.99	0.66	0.97	0.95	0.78	0.36
Short Long Term Debt Total	0.73		0.21	0.7	0.48	0.81	0.72	0.54	0.74	0.11	0.78	0.12	0.13	-0.03	-0.94	0.95	0.72	0.88	-0.52	0.95	0.66	0.93	0.76	0.81	0.95	0.22
Other Current Liab	0.62	0.21		0.69	0.61	0.46	0.44	0.62	0.59	0.52	0.54	0.64	0.58	0.06	-0.29	0.38	0.57	0.08	-0.5	0.46	0.68	0.13	0.59	0.54	0.35	0.54
Total Current Liabilities	0.97	0.7	0.69		0.81	0.91	0.87	0.86	0.95	0.23	0.95	0.63	0.29	-0.01	-0.77	0.77	0.96	0.54	-0.62	0.84	0.96	0.69	0.93	0.92	0.74	0.32
Total Stockholder Equity	0.81	0.48	0.61	0.81		0.73	0.55	0.99	0.84	0.21	0.74	0.45	0.24	0.08	-0.53	0.55	0.76	0.49	-0.4	0.62	0.87	0.51	0.65	0.62	0.62	0.17
Property Plant And Equipment Net	0.96	0.81	0.46	0.91	0.73		0.89	0.81	0.93	0.19	0.98	0.42	0.24	0.12	-0.91	0.88	0.95	0.7	-0.41	0.88	0.92	0.72	0.94	0.94	0.86	0.29
Net Debt	0.89	0.72	0.44	0.87	0.55	0.89		0.64	0.82	0.02	0.92	0.65	0.1	0.15	-0.82	0.8	0.91	0.51	-0.53	0.81	0.83	0.68	0.93	0.92	0.7	0.22
Retained Earnings	0.87	0.54	0.62	0.86	0.99	0.81	0.64		0.87	0.23	0.81	0.47	0.27	0.09	-0.61	0.61	0.82	0.53	-0.41	0.68	0.91	0.55	0.73	0.7	0.67	0.22
Accounts Payable	0.96	0.74	0.59	0.95	0.84	0.93	0.82	0.87		0.24	0.94	0.52	0.3	-0.06	-0.82	0.82	0.95	0.66	-0.53	0.87	0.96	0.71	0.91	0.9	0.82	0.32
Cash	0.29	0.11	0.52	0.23	0.21	0.19	0.02	0.23	0.24		0.23	0.23	0.98	-0.3	-0.17	0.29	0.18	0.17	-0.14	0.27	0.34	-0.07	0.28	0.27	0.19	0.77
Non Current Assets Total	0.99	0.78	0.54	0.95	0.74	0.98	0.92	0.81	0.94	0.23		0.55	0.3	0.04	-0.89	0.87	0.96	0.63	-0.52	0.89	0.95	0.69	0.98	0.97	0.81	0.34
Non Currrent Assets Other	0.6	0.12	0.64	0.63	0.45	0.42	0.65	0.47	0.52	0.23	0.55		0.3	-0.05	-0.28	0.33	0.59	-0.05	-0.54	0.37	0.65	0.13	0.62	0.55	0.14	0.28
Cash And Short Term Investments	0.35	0.13	0.58	0.29	0.24	0.24	0.1	0.27	0.3	0.98	0.3	0.3		-0.26	-0.2	0.33	0.23	0.15	-0.14	0.31	0.39	-0.06	0.36	0.34	0.23	0.88
Net Receivables	0.01	-0.03	0.06	-0.01	0.08	0.12	0.15	0.09	-0.06	-0.3	0.04	-0.05	-0.26		-0.02	-0.01	0.02	0.03	0.32	-0.03	-0.02	-0.1	-0.03	-0.06	0.1	-0.15
Common Stock Shares Outstanding	-0.84	-0.94	-0.29	-0.77	-0.53	-0.91	-0.82	-0.61	-0.82	-0.17	-0.89	-0.28	-0.2	-0.02		-0.96	-0.84	-0.81	0.45	-0.95	-0.77	-0.82	-0.86	-0.88	-0.92	-0.26
Non Current Liabilities Total	0.84	0.95	0.38	0.77	0.55	0.88	0.8	0.61	0.82	0.29	0.87	0.33	0.33	-0.01	-0.96		0.81	0.83	-0.53	0.99	0.78	0.81	0.87	0.9	0.94	0.39
Inventory	0.97	0.72	0.57	0.96	0.76	0.95	0.91	0.82	0.95	0.18	0.96	0.59	0.23	0.02	-0.84	0.81		0.62	-0.55	0.85	0.95	0.68	0.94	0.93	0.76	0.26
Other Current Assets	0.61	0.88	0.08	0.54	0.49	0.7	0.51	0.53	0.66	0.17	0.63	-0.05	0.15	0.03	-0.81	0.83	0.62		-0.42	0.82	0.57	0.8	0.57	0.63	0.85	0.14
Other Stockholder Equity	-0.55	-0.52	-0.5	-0.62	-0.4	-0.41	-0.53	-0.41	-0.53	-0.14	-0.52	-0.54	-0.14	0.32	0.45	-0.53	-0.55	-0.42		-0.59	-0.57	-0.55	-0.58	-0.6	-0.37	-0.12
Total Liab	0.87	0.95	0.46	0.84	0.62	0.88	0.81	0.68	0.87	0.27	0.89	0.37	0.31	-0.03	-0.95	0.99	0.85	0.82	-0.59		0.83	0.86	0.89	0.91	0.95	0.37
Total Current Assets	0.99	0.66	0.68	0.96	0.87	0.92	0.83	0.91	0.96	0.34	0.95	0.65	0.39	-0.02	-0.77	0.78	0.95	0.57	-0.57	0.83		0.61	0.93	0.9	0.73	0.37
Short Term Debt	0.66	0.93	0.13	0.69	0.51	0.72	0.68	0.55	0.71	-0.07	0.69	0.13	-0.06	-0.1	-0.82	0.81	0.68	0.8	-0.55	0.86	0.61		0.66	0.71	0.85	0.01
Intangible Assets	0.97	0.76	0.59	0.93	0.65	0.94	0.93	0.73	0.91	0.28	0.98	0.62	0.36	-0.03	-0.86	0.87	0.94	0.57	-0.58	0.89	0.93	0.66		0.99	0.78	0.43
Good Will	0.95	0.81	0.54	0.92	0.62	0.94	0.92	0.7	0.9	0.27	0.97	0.55	0.34	-0.06	-0.88	0.9	0.93	0.63	-0.6	0.91	0.9	0.71	0.99		0.8	0.43
Current Deferred Revenue	0.78	0.95	0.35	0.74	0.62	0.86	0.7	0.67	0.82	0.19	0.81	0.14	0.23	0.1	-0.92	0.94	0.76	0.85	-0.37	0.95	0.73	0.85	0.78	0.8		0.32
Short Term Investments	0.36	0.22	0.54	0.32	0.17	0.29	0.22	0.22	0.32	0.77	0.34	0.28	0.88	-0.15	-0.26	0.39	0.26	0.14	-0.12	0.37	0.37	0.01	0.43	0.43	0.32

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Canadian TireLimited Account Relationship Matchups

Canadian TireLimited fundamental ratios Accounts

	2020	2021	2022	2023	2024	2025 (projected)
Total Assets	20.4B	21.8B	22.1B	22.0B	22.2B	11.8B
Short Long Term Debt Total	7.2B	7.1B	7.7B	8.8B	10.1B	10.6B
Other Current Liab	1.7B	2.4B	1.7B	1.4B	1.2B	896.1M
Total Current Liabilities	5.2B	6.8B	7.1B	6.4B	6.3B	3.5B
Total Stockholder Equity	4.5B	5.1B	5.6B	5.5B	6.2B	3.8B
Property Plant And Equipment Net	6.0B	6.3B	6.9B	7.2B	7.4B	3.9B
Net Debt	5.9B	5.4B	7.4B	8.5B	5.0B	2.7B
Retained Earnings	4.1B	4.7B	5.1B	5.1B	5.6B	3.2B
Accounts Payable	2.0B	2.4B	2.7B	2.2B	2.4B	1.7B
Cash	1.3B	1.7B	313.8M	311.2M	447.5M	636.3M
Non Current Assets Total	9.8B	10.2B	10.6B	10.7B	10.9B	5.5B
Non Currrent Assets Other	1.0B	1.1B	1.1B	1.1B	50.9M	48.4M
Cash And Short Term Investments	1.9B	2.3B	490.1M	488.4M	561.7M	778.0M
Net Receivables	714.4M	715.7M	884.6M	7.8B	829.6M	788.1M
Common Stock Shares Outstanding	61.1M	61.3M	59.3M	56.5M	55.6M	61.0M
Liabilities And Stockholders Equity	20.4B	21.8B	22.1B	22.0B	25.3B	26.5B
Non Current Liabilities Total	9.3B	8.5B	7.9B	9.1B	8.8B	9.3B
Inventory	2.3B	2.5B	3.2B	2.7B	2.6B	1.4B
Other Current Assets	342.6M	326.3M	405.7M	512.1M	588.9M	618.4M
Total Liab	14.5B	15.3B	15.1B	15.5B	15.2B	15.9B
Total Current Assets	10.5B	11.6B	11.5B	11.3B	11.3B	6.2B
Accumulated Other Comprehensive Income	(237.7M)	(169.2M)	(42.4M)	(181.8M)	(163.6M)	(155.4M)
Short Term Debt	1.2B	1.6B	2.5B	2.4B	2.8B	2.9B
Intangible Assets	1.5B	1.5B	1.5B	1.4B	1.3B	734.7M
Good Will	889.5M	876.8M	863.2M	844.8M	838.7M	470.8M
Current Deferred Revenue	246.8M	291.2M	316.4M	342.4M	393.8M	413.4M
Short Term Investments	643M	606.2M	176.3M	177.2M	128.4M	252.3M
Common Stock	597M	593.6M	587.8M	598.7M	538.8M	503.9M
Other Liab	1.0B	1.0B	1.0B	932.8M	1.1B	1.0B
Net Tangible Assets	1.8B	2.1B	2.8B	3.3B	2.9B	2.4B
Other Assets	1.5B	1.3B	1.3B	1.2B	1.4B	1.2B
Long Term Debt	4.1B	3.6B	3.2B	4.4B	3.9B	3.3B
Long Term Investments	146.2M	175.1M	62.6M	108.2M	72.8M	110.7M
Short Long Term Debt	822.5M	1.3B	2.1B	2.0B	1.5B	1.3B
Property Plant Equipment	5.9B	6.0B	6.3B	6.9B	8.0B	5.4B
Non Current Liabilities Other	2.9B	2.6B	2.3B	2.3B	2.4B	2.6B
Net Invested Capital	9.4B	9.9B	10.9B	12.0B	11.6B	11.4B
Net Working Capital	5.3B	4.9B	4.4B	4.9B	5.0B	5.0B
Capital Stock	597M	593.6M	587.8M	598.7M	625.9M	657.3M

Pair Trading with Canadian TireLimited

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

Moving against Canadian Stock

0.73	ENS-PA	E Split Corp	Pair Corr
0.31	ELF-PG	E L Financial	Pair Corr
0.31	RIGE	Russell Investments	Pair Corr

The ability to find closely correlated positions to Canadian TireLimited could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian TireLimited 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 Canadian TireLimited - 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 Canadian Tire to buy it.

The correlation of Canadian TireLimited 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 Canadian TireLimited moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian TireLimited 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 Canadian TireLimited 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 Correlation Correlation Matching

Additional Tools for Canadian Stock Analysis

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

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