Precision Average Payables vs Price To Sales Ratio Analysis
PD Stock | CAD 87.78 1.67 1.87% |
Precision Drilling financial indicator trend analysis is much more than just breaking down Precision Drilling prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Precision Drilling is a good investment. Please check the relationship between Precision Drilling Average Payables and its Price To Sales Ratio accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Precision Drilling. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate. To learn how to invest in Precision Stock, please use our How to Invest in Precision Drilling guide.
Average Payables vs Price To Sales Ratio
Average Payables vs Price To Sales Ratio Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Precision Drilling Average Payables account and Price To Sales Ratio. At this time, the significance of the direction appears to have very strong relationship.
The correlation between Precision Drilling's Average Payables and Price To Sales Ratio is 0.87. Overlapping area represents the amount of variation of Average Payables that can explain the historical movement of Price To Sales Ratio in the same time period over historical financial statements of Precision Drilling, assuming nothing else is changed. The correlation between historical values of Precision Drilling's Average Payables and Price To Sales Ratio is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Average Payables of Precision Drilling are associated (or correlated) with its Price To Sales Ratio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Price To Sales Ratio has no effect on the direction of Average Payables i.e., Precision Drilling's Average Payables and Price To Sales Ratio go up and down completely randomly.
Correlation Coefficient | 0.87 |
Relationship Direction | Positive |
Relationship Strength | Strong |
Average Payables
The average amount owed to suppliers and creditors over a specific period, reflecting the company's payment cycle and credit terms with suppliers.Price To Sales Ratio
Price to Sales Ratio is figured by comparing Precision Drilling stock price to its revenues. An advantage to using Price to Sales ratio is that it is based on Precision Drilling sales, a figure that is much harder to manipulate than other Precision Drilling multiples. Because sales tend to be more stable P/S ratio can be a good tool for screening cyclical companies fluctuating earnings patterns. A valuation ratio that compares a company's stock price to its revenues, calculated by dividing the company's market cap by its total sales or revenue over a 12-month period.Most indicators from Precision Drilling's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Precision Drilling 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 Your Equity Center to better understand how to build diversified portfolios, which includes a position in Precision Drilling. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate. To learn how to invest in Precision Stock, please use our How to Invest in Precision Drilling guide.As of the 16th of November 2024, Sales General And Administrative To Revenue is likely to grow to 0.06, while Selling General Administrative is likely to drop about 112.5 M.
2021 | 2022 | 2023 | 2024 (projected) | Interest Expense | 91.4M | 87.8M | 84.8M | 118.0M | Depreciation And Amortization | 282.3M | 279.0M | 307.1M | 234.3M |
Precision Drilling fundamental ratios Correlations
Click cells to compare fundamentals
Precision Drilling Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Precision Drilling fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 3.3B | 2.9B | 2.7B | 2.9B | 3.3B | 3.3B | |
Short Long Term Debt Total | 1.5B | 1.3B | 1.2B | 1.2B | 992.2M | 1.0B | |
Other Current Liab | 4.1M | 3.7M | 839K | 3.0M | 191.0M | 200.6M | |
Total Current Liabilities | 216.1M | 166.8M | 238.1M | 410.0M | 365.6M | 304.6M | |
Total Stockholder Equity | 1.5B | 1.4B | 1.2B | 1.2B | 1.6B | 1.7B | |
Property Plant And Equipment Net | 2.8B | 2.5B | 2.3B | 2.4B | 2.4B | 2.4B | |
Net Debt | 1.4B | 1.2B | 1.1B | 1.1B | 938.0M | 901.5M | |
Retained Earnings | (969.5M) | (1.1B) | (1.3B) | (1.3B) | (1.0B) | (961.4M) | |
Accounts Payable | 199.5M | 151.0M | 224.1M | 392.1M | 151.3M | 215.1M | |
Cash | 74.7M | 108.8M | 40.6M | 21.6M | 54.2M | 51.5M | |
Non Current Assets Total | 2.9B | 2.6B | 2.3B | 2.4B | 2.8B | 2.8B | |
Non Currrent Assets Other | (2.8B) | (2.6B) | 7.4M | 1.6M | 10.7M | 11.2M | |
Cash And Short Term Investments | 74.7M | 108.8M | 40.6M | 21.6M | 54.2M | 51.5M | |
Net Receivables | 311.3M | 207.2M | 255.7M | 413.9M | 421.4M | 409.4M | |
Common Stock Shares Outstanding | 14.9M | 13.7M | 13.3M | 13.5M | 15.3M | 14.4M | |
Liabilities And Stockholders Equity | 3.3B | 2.9B | 2.7B | 2.9B | 3.3B | 3.3B | |
Non Current Liabilities Total | 1.5B | 1.3B | 1.2B | 1.2B | 1.4B | 1.3B | |
Inventory | 31.7M | 26.3M | 23.4M | 35.2M | 35.3M | 29.1M | |
Other Stockholder Equity | 66.3M | 72.9M | 76.3M | 72.6M | 75.1M | 71.3M | |
Total Liab | 1.7B | 1.5B | 1.4B | 1.6B | 1.7B | 1.6B | |
Property Plant And Equipment Gross | 2.8B | 2.5B | 2.3B | 2.4B | 7.0B | 7.3B | |
Total Current Assets | 417.8M | 342.3M | 319.8M | 470.7M | 510.9M | 577.2M | |
Accumulated Other Comprehensive Income | 134.3M | 137.6M | 134.8M | 159.7M | 147.5M | 154.8M | |
Short Term Debt | 12.4M | 12.2M | 13.2M | 15.0M | 20.2M | 19.2M | |
Intangible Assets | 31.7M | 27.7M | 23.9M | 19.6M | 17.3M | 16.4M | |
Other Current Assets | 67.4M | 76.5M | 76.1M | 91.2M | 86.9M | 46.4M | |
Other Assets | 7.0M | 3.2M | 2.9M | 455K | 409.5K | 389.0K | |
Common Stock | 2.3B | 2.3B | 2.3B | 2.3B | 2.4B | 2.5B | |
Other Liab | 44.2M | 40.3M | 45.5M | 96.6M | 87.0M | 163.3M | |
Net Tangible Assets | 1.5B | 1.4B | 1.2B | 1.2B | 1.1B | 1.3B | |
Long Term Debt | 1.4B | 1.2B | 1.1B | 1.1B | 914.8M | 1.2B | |
Deferred Long Term Liab | 2.3M | 2.1M | 2.1M | 1.4M | 1.3M | 2.1M | |
Property Plant Equipment | 2.8B | 2.5B | 2.3B | 2.4B | 2.1B | 2.5B | |
Long Term Debt Total | 1.5B | 1.3B | 1.2B | 1.1B | 1.0B | 1.3B | |
Capital Surpluse | 66.3M | 72.9M | 76.3M | 72.6M | 83.4M | 63.1M |
Pair Trading with Precision Drilling
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 Precision Drilling 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 Precision Drilling will appreciate offsetting losses from the drop in the long position's value.Moving against Precision Stock
0.75 | ENB-PFV | Enbridge Pref 5 | PairCorr |
0.71 | ENB-PFU | Enbridge Pref L | PairCorr |
0.67 | ENS | E Split Corp | PairCorr |
0.6 | META | Meta Platforms CDR | PairCorr |
0.55 | ENS-PA | E Split Corp | PairCorr |
The ability to find closely correlated positions to Precision Drilling could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Precision Drilling 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 Precision Drilling - 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 Precision Drilling to buy it.
The correlation of Precision Drilling 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 Precision Drilling moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Precision Drilling 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 Precision Drilling 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 Your Equity Center to better understand how to build diversified portfolios, which includes a position in Precision Drilling. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate. To learn how to invest in Precision Stock, please use our How to Invest in Precision Drilling guide.You can also try the Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.