| RS Stock | | | USD 269.02 4.82 1.82% |
Reliance Steel financial indicator trend analysis is much more than just breaking down Reliance Steel Aluminum prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Reliance Steel Aluminum is a good investment. Please check the relationship between Reliance Steel Common Stock Total Equity and its Accounts Payable accounts. Check out
Your Equity Center to better understand how to build diversified portfolios, which includes a position in Reliance Steel Aluminum. 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.
Common Stock Total Equity vs Accounts Payable
Common Stock Total Equity vs Accounts Payable Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Reliance Steel Aluminum Common Stock Total Equity account and
Accounts Payable. At this time, the significance of the direction appears to have weak contrarian relationship.
The correlation between Reliance Steel's Common Stock Total Equity and Accounts Payable is -0.13. Overlapping area represents the amount of variation of Common Stock Total Equity that can explain the historical movement of Accounts Payable in the same time period over historical financial statements of Reliance Steel Aluminum, assuming nothing else is changed. The correlation between historical values of Reliance Steel's Common Stock Total Equity and Accounts Payable is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Common Stock Total Equity of Reliance Steel Aluminum are associated (or correlated) with its Accounts Payable. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Accounts Payable has no effect on the direction of Common Stock Total Equity i.e., Reliance Steel's Common Stock Total Equity and Accounts Payable go up and down completely randomly.
Correlation Coefficient | -0.13 |
| Relationship Direction | Negative |
| Relationship Strength | Insignificant |
Common Stock Total Equity
The total value of common stock equity held by shareholders, representing their ownership interest in the company.
Accounts Payable
An accounting item on the balance sheet that represents Reliance Steel obligation to pay off a short-term debt to its creditors. The accounts payable entry is usually reported under current liabilities. If accounts payable of Reliance Steel Aluminum are not paid within the agreed terms, the payables are considered to be in default, which may trigger a penalty or interest payment, or the revocation of additional credit from the supplier. Accounts payable may also be considered a source of cash, since they represent funds being borrowed from suppliers. Given these cash flow considerations, suppliers have a natural inclination to push for shorter payment terms, while creditors want to lengthen the payment terms. The amount a company owes to suppliers or vendors for products or services received but not yet paid for. It represents the company's short-term liabilities.
Most indicators from Reliance Steel's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Reliance Steel Aluminum 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 Reliance Steel Aluminum. 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.
Enterprise Value is likely to gain to about 6.8
B in 2024, whereas
Selling General Administrative is likely to drop slightly above 1.3
B in 2024.
Reliance Steel fundamental ratios Correlations
Click cells to compare fundamentals
Reliance Steel Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Reliance Steel fundamental ratios Accounts
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