Summit Depreciation vs Net Income Analysis
| 0LAI Stock | 50.90 0.05 0.1% |
Summit Materials financial indicator trend analysis is much more than just breaking down Summit Materials prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Summit Materials is a good investment. Please check the relationship between Summit Materials Depreciation and its Net Income accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Summit Materials Cl. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. For more information on how to buy Summit Stock please use our How to Invest in Summit Materials guide.
Depreciation vs Net Income
Depreciation vs Net Income Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Summit Materials Depreciation account and Net Income. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between Summit Materials' Depreciation and Net Income is 0.47. Overlapping area represents the amount of variation of Depreciation that can explain the historical movement of Net Income in the same time period over historical financial statements of Summit Materials Cl, assuming nothing else is changed. The correlation between historical values of Summit Materials' Depreciation and Net Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Depreciation of Summit Materials Cl are associated (or correlated) with its Net Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Income has no effect on the direction of Depreciation i.e., Summit Materials' Depreciation and Net Income go up and down completely randomly.
Correlation Coefficient | 0.47 |
| Relationship Direction | Positive |
| Relationship Strength | Weak |
Depreciation
Depreciation indicates how much of Summit Materials value has been used up. For tax purposes Summit Materials can deduct the cost of the tangible assets it purchases as business expenses. However, Summit Materials Cl must depreciate these assets in accordance with IRS rules about how and when the deduction may be taken, and how long it will last. The systematic allocation of the cost of a tangible asset over its useful life.Net Income
Net income is one of the most important fundamental items in finance. It plays a large role in Summit Materials financial statement analysis. It represents the amount of money remaining after all of Summit Materials Cl operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.Most indicators from Summit Materials' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Summit Materials 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 Summit Materials Cl. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. For more information on how to buy Summit Stock please use our How to Invest in Summit Materials guide.Selling General Administrative is likely to gain to about 280.4 M in 2024, whereas Tax Provision is likely to drop (6.4 M) in 2024.
| 2010 | 2016 | 2023 | 2024 (projected) | Gross Profit | 748.5M | 554.3M | 637.4M | 720.4M | Total Revenue | 2.3B | 1.6B | 1.9B | 2.2B |
Summit Materials fundamental ratios Correlations
Click cells to compare fundamentals
Summit Materials Account Relationship Matchups
High Positive Relationship
High Negative Relationship
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When running Summit Materials' price analysis, check to measure Summit Materials' 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 Summit Materials is operating at the current time. Most of Summit Materials' value examination focuses on studying past and present price action to predict the probability of Summit Materials' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Summit Materials' price. Additionally, you may evaluate how the addition of Summit Materials to your portfolios can decrease your overall portfolio volatility.