Espey Non Current Assets Total vs Cash Analysis

ESP Stock  USD 29.35  0.52  1.74%   
Espey Mfg financial indicator trend analysis is much more than just examining Espey Mfg Electronics latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Espey Mfg Electronics is a good investment. Please check the relationship between Espey Mfg Non Current Assets Total and its Cash accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Espey Mfg Electronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Non Current Assets Total vs Cash

Non Current Assets Total vs Cash Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Espey Mfg Electronics Non Current Assets Total account and Cash. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between Espey Mfg's Non Current Assets Total and Cash is -0.69. Overlapping area represents the amount of variation of Non Current Assets Total that can explain the historical movement of Cash in the same time period over historical financial statements of Espey Mfg Electronics, assuming nothing else is changed. The correlation between historical values of Espey Mfg's Non Current Assets Total and Cash is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Non Current Assets Total of Espey Mfg Electronics are associated (or correlated) with its Cash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cash has no effect on the direction of Non Current Assets Total i.e., Espey Mfg's Non Current Assets Total and Cash go up and down completely randomly.

Correlation Coefficient

-0.69
Relationship DirectionNegative 
Relationship StrengthWeak

Non Current Assets Total

The total value of a company's long-term assets, which are not expected to be converted into cash or used up within one year or the operating cycle, including property, plant, and equipment, and intangible assets.

Cash

Cash refers to the most liquid asset of Espey Mfg Electronics, which is listed under current asset account on Espey Mfg Electronics balance sheet and usually includes currency, coins, checking accounts, and not deposited checks received from Espey Mfg customers. The amounts must be unrestricted with restricted cash listed in a different Espey Mfg account. The total amount of money in the form of currency that a company has in its possession. This includes all bills, coins, and funds in bank accounts.
Most indicators from Espey Mfg's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Espey Mfg Electronics 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 Espey Mfg Electronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.
At this time, Espey Mfg's Tax Provision is relatively stable compared to the past year. As of 12/10/2024, Enterprise Value Over EBITDA is likely to grow to 11.30, while Selling General Administrative is likely to drop slightly above 3.1 M.
 2021 2022 2023 2024 (projected)
Gross Profit5.5M8.1M10.7M5.6M
Total Revenue32.1M35.6M38.7M24.8M

Espey Mfg fundamental ratios Correlations

0.690.940.250.370.52-0.39-0.11-0.290.630.420.41-0.730.830.620.890.671.00.490.520.590.820.530.820.49-0.21
0.690.560.080.510.42-0.44-0.08-0.390.310.15-0.12-0.60.690.910.581.00.670.390.790.880.410.790.440.53-0.24
0.940.560.180.260.7-0.27-0.26-0.230.710.460.23-0.860.670.510.820.540.940.390.450.450.920.530.930.28-0.29
0.250.080.180.75-0.23-0.80.850.46-0.220.510.47-0.070.280.010.430.070.19-0.150.30.030.090.110.080.030.87
0.370.510.260.75-0.06-0.990.650.18-0.220.470.23-0.180.420.520.470.510.310.240.460.480.040.510.050.250.62
0.520.420.7-0.23-0.060.11-0.49-0.220.740.1-0.36-0.730.110.470.20.40.540.220.280.320.610.620.63-0.19-0.58
-0.39-0.44-0.27-0.8-0.990.11-0.69-0.210.21-0.5-0.350.14-0.44-0.45-0.5-0.44-0.33-0.25-0.4-0.42-0.06-0.43-0.06-0.26-0.67
-0.11-0.08-0.260.850.65-0.49-0.690.54-0.430.180.440.39-0.02-0.060.03-0.07-0.18-0.250.1-0.03-0.410.0-0.42-0.070.92
-0.29-0.39-0.230.460.18-0.22-0.210.54-0.09-0.280.140.11-0.33-0.21-0.19-0.39-0.31-0.14-0.25-0.27-0.33-0.04-0.34-0.250.61
0.630.310.71-0.22-0.220.740.21-0.43-0.09-0.180.11-0.580.190.370.360.290.660.240.20.250.610.530.6-0.04-0.58
0.420.150.460.510.470.1-0.50.18-0.28-0.180.25-0.30.41-0.040.520.140.41-0.020.290.020.49-0.050.480.040.29
0.41-0.120.230.470.23-0.36-0.350.440.140.110.250.180.42-0.10.5-0.120.40.22-0.15-0.030.15-0.240.110.340.38
-0.73-0.6-0.86-0.07-0.18-0.730.140.390.11-0.58-0.30.18-0.55-0.51-0.67-0.58-0.74-0.27-0.57-0.43-0.86-0.58-0.88-0.240.34
0.830.690.670.280.420.11-0.44-0.02-0.330.190.410.42-0.550.570.890.690.820.530.490.630.640.260.640.84-0.04
0.620.910.510.010.520.47-0.45-0.06-0.210.37-0.04-0.1-0.510.570.440.910.60.590.530.940.270.840.290.5-0.24
0.890.580.820.430.470.2-0.50.03-0.190.360.520.5-0.670.890.440.560.880.380.540.490.780.340.780.590.05
0.671.00.540.070.510.4-0.44-0.07-0.390.290.14-0.12-0.580.690.910.560.650.390.780.890.390.790.410.53-0.23
1.00.670.940.190.310.54-0.33-0.18-0.310.660.410.4-0.740.820.60.880.650.50.490.570.840.510.840.49-0.26
0.490.390.39-0.150.240.22-0.25-0.25-0.140.24-0.020.22-0.270.530.590.380.390.5-0.150.490.260.250.260.59-0.22
0.520.790.450.30.460.28-0.40.1-0.250.20.29-0.15-0.570.490.530.540.780.49-0.150.540.40.650.420.23-0.02
0.590.880.450.030.480.32-0.42-0.03-0.270.250.02-0.03-0.430.630.940.490.890.570.490.540.250.710.270.6-0.2
0.820.410.920.090.040.61-0.06-0.41-0.330.610.490.15-0.860.640.270.780.390.840.260.40.250.281.00.29-0.35
0.530.790.530.110.510.62-0.430.0-0.040.53-0.05-0.24-0.580.260.840.340.790.510.250.650.710.280.310.07-0.19
0.820.440.930.080.050.63-0.06-0.42-0.340.60.480.11-0.880.640.290.780.410.840.260.420.271.00.310.29-0.37
0.490.530.280.030.25-0.19-0.26-0.07-0.25-0.040.040.34-0.240.840.50.590.530.490.590.230.60.290.070.29-0.08
-0.21-0.24-0.290.870.62-0.58-0.670.920.61-0.580.290.380.34-0.04-0.240.05-0.23-0.26-0.22-0.02-0.2-0.35-0.19-0.37-0.08
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Espey Mfg Account Relationship Matchups

Espey Mfg fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets38.2M38.0M39.9M47.5M56.5M34.0M
Total Current Liabilities6.7M7.5M7.6M11.5M15.3M16.0M
Total Stockholder Equity31.2M30.3M32.1M35.9M41.3M30.7M
Property Plant And Equipment Net3.5M3.0M2.8M2.8M3.3M2.4M
Net Debt(5.4M)(6.8M)(8.1M)(2.7M)(4.4M)(4.6M)
Retained Earnings18.8M17.4M18.7M21.9M26.0M24.8M
Cash5.4M6.8M8.1M2.7M4.4M6.2M
Non Current Assets Total3.5M3.0M2.8M2.8M3.3M2.5M
Non Currrent Assets Other(303.9K)(294.4K)(252.7K)(334.0K)(895.2K)(850.4K)
Cash And Short Term Investments10.5M9.9M11.8M14.7M23.2M12.2M
Net Receivables9.0M5.6M5.7M5.8M6.6M4.4M
Common Stock Shares Outstanding2.4M2.4M2.4M2.5M2.5M1.9M
Liabilities And Stockholders Equity38.2M38.0M39.9M47.5M56.5M34.0M
Non Current Liabilities Total277.1K233.0K168.6K177.8K137.8K0.0
Inventory14.8M18.8M18.6M19.9M19.2M12.5M
Other Current Assets396.9K700.3K2.0M4.3M4.1M4.3M
Other Stockholder Equity11.4M11.9M12.4M13.0M14.2M7.8M
Total Liab7.0M7.6M7.8M11.6M15.3M16.0M
Total Current Assets34.7M35.0M37.1M44.7M53.2M30.5M
Other Current Liab318.3K1.7M2.1M10.3M2.3M1.5M
Accounts Payable2.9M2.7M2.1M1.2M3.8M3.9M
Property Plant And Equipment Gross3.5M3.0M15.9M16.4M17.2M18.1M
Accumulated Other Comprehensive Income(3.1K)(2.4K)(1.9K)(2.4K)6.5K6.9K
Short Term Investments5.1M3.1M3.7M12.0M18.9M19.8M
Treasury Stock(7.7M)(7.6M)(7.7M)(6.0M)(6.9M)(7.3M)
Property Plant Equipment3.5M3.0M2.8M2.8M2.5M2.4M
Net Tangible Assets31.2M30.3M32.1M35.9M41.3M32.7M
Capital Surpluse19.1M23.0M23.1M23.3M26.8M20.6M
Other Liab233.0K168.6K177.8K137.8K124.0K155.5K
Cash And Equivalents5.4M6.8M8.1M2.7M2.5M4.9M
Short Term Debt1.2M1.4M1.6M8.1M(9.0M)(8.6M)
Net Invested Capital31.2M30.3M32.1M35.9M41.3M36.9M
Net Working Capital28.0M27.5M29.5M33.2M38.0M33.6M
Current Deferred Revenue2.2M3.1M3.4M8.1M9.0M4.7M

Pair Trading with Espey Mfg

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

Moving against Espey Stock

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The ability to find closely correlated positions to Espey Mfg could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Espey Mfg 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 Espey Mfg - 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 Espey Mfg Electronics to buy it.
The correlation of Espey Mfg 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 Espey Mfg moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Espey Mfg Electronics 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 Espey Mfg 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

Additional Tools for Espey Stock Analysis

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