Innergex Renewable Energy Stock Current Asset
| INE Stock | CAD 8.73 0.02 0.23% |
Innergex Renewable Energy fundamentals help investors to digest information that contributes to Innergex Renewable's financial success or failures. It also enables traders to predict the movement of Innergex Stock. The fundamental analysis module provides a way to measure Innergex Renewable's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Innergex Renewable stock.
At this time, Innergex Renewable's Non Current Assets Total are very stable compared to the past year. As of the 29th of November 2024, Total Current Assets is likely to grow to about 544 M, while Other Current Assets are likely to drop about 110.5 M. Innergex | Current Asset |
Innergex Renewable Energy Company Current Asset Analysis
Innergex Renewable's Current Asset is all of the company's assets that can be used to pay off current liabilities within the current fiscal period or over the next 12 months. Current Asset includes cash or cash equivalents, accounts receivable, short-term investments, and the portion of prepaid liabilities which will be paid within the next 12 months. Because these assets are easily turned into cash, they are sometimes referred to as liquid assets.
Current Innergex Renewable Current Asset | 397.35 M |
Most of Innergex Renewable's fundamental indicators, such as Current Asset, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Innergex Renewable Energy is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Innergex Current Asset Driver Correlations
Understanding the fundamental principles of building solid financial models for Innergex Renewable is extremely important. It helps to project a fair market value of Innergex Stock properly, considering its historical fundamentals such as Current Asset. Since Innergex Renewable's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Innergex Renewable's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Innergex Renewable's interrelated accounts and indicators.
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Current Asset is important to company's creditors and private equity firms as they will often be interested in how much that company has in current assets since these assets can be easily liquidated in case the company goes bankrupt. However, it is usually not enough to know if a company is in good shape just based on current asset alone; the amount of current liabilities should always be considered.
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Innergex Total Assets
Total Assets |
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In accordance with the recently published financial statements, Innergex Renewable Energy has a Current Asset of 397.35 M. This is 98.39% lower than that of the Independent Power and Renewable Electricity Producers sector and significantly higher than that of the Utilities industry. The current asset for all Canada stocks is 95.74% higher than that of the company.
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Innergex Fundamentals
| Return On Equity | -0.0921 | ||||
| Return On Asset | 0.0202 | ||||
| Profit Margin | (0.12) % | ||||
| Operating Margin | 0.28 % | ||||
| Current Valuation | 8.12 B | ||||
| Shares Outstanding | 202.41 M | ||||
| Shares Owned By Insiders | 20.48 % | ||||
| Shares Owned By Institutions | 36.57 % | ||||
| Number Of Shares Shorted | 6.59 M | ||||
| Price To Earning | 98.93 X | ||||
| Price To Book | 1.95 X | ||||
| Price To Sales | 1.72 X | ||||
| Revenue | 1.04 B | ||||
| Gross Profit | 615.34 M | ||||
| EBITDA | 531.32 M | ||||
| Net Income | (105.81 M) | ||||
| Cash And Equivalents | 162.97 M | ||||
| Cash Per Share | 1.31 X | ||||
| Total Debt | 6.56 B | ||||
| Debt To Equity | 4.03 % | ||||
| Current Ratio | 0.63 X | ||||
| Book Value Per Share | 4.44 X | ||||
| Cash Flow From Operations | 297.85 M | ||||
| Short Ratio | 13.67 X | ||||
| Earnings Per Share | (0.66) X | ||||
| Price To Earnings To Growth | 2.25 X | ||||
| Target Price | 11.9 | ||||
| Number Of Employees | 602 | ||||
| Beta | 0.38 | ||||
| Market Capitalization | 1.76 B | ||||
| Total Asset | 8.94 B | ||||
| Retained Earnings | (1.76 B) | ||||
| Working Capital | (48.34 M) | ||||
| Current Asset | 397.35 M | ||||
| Current Liabilities | 185.17 M | ||||
| Annual Yield | 0.04 % | ||||
| Five Year Return | 4.49 % | ||||
| Net Asset | 8.94 B | ||||
| Last Dividend Paid | 0.45 |
About Innergex Renewable Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Innergex Renewable Energy's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Innergex Renewable using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Innergex Renewable Energy based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Innergex Renewable
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 Innergex Renewable 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 Innergex Renewable will appreciate offsetting losses from the drop in the long position's value.Moving together with Innergex Stock
Moving against Innergex Stock
| 0.76 | ELF | E L Financial | PairCorr |
| 0.72 | FFH-PD | Fairfax Financial | PairCorr |
| 0.59 | TPX-B | Molson Coors Canada | PairCorr |
| 0.59 | FFH | Fairfax Financial | PairCorr |
| 0.58 | FFH-PM | Fairfax Financial | PairCorr |
The ability to find closely correlated positions to Innergex Renewable could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Innergex Renewable 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 Innergex Renewable - 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 Innergex Renewable Energy to buy it.
The correlation of Innergex Renewable 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 Innergex Renewable moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innergex Renewable Energy 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 Innergex Renewable 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.Other Information on Investing in Innergex Stock
Innergex Renewable financial ratios help investors to determine whether Innergex Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Innergex with respect to the benefits of owning Innergex Renewable security.