Africa Roic vs Free Cash Flow Per Share Analysis

AOI Stock

CAD 1.97 0.01 0.51%

Africa Oil financial indicator trend analysis is way more than just evaluating Africa Oil Corp prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Africa Oil Corp is a good investment. Please check the relationship between Africa Oil Roic and its Free Cash Flow Per Share accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Africa Oil Corp. 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.

Roic vs Free Cash Flow Per Share

Roic vs Free Cash Flow Per Share Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Africa Oil Corp Roic account and Free Cash Flow Per Share. At this time, the significance of the direction appears to have almost no relationship.

The correlation between Africa Oil's Roic and Free Cash Flow Per Share is 0.11. Overlapping area represents the amount of variation of Roic that can explain the historical movement of Free Cash Flow Per Share in the same time period over historical financial statements of Africa Oil Corp, assuming nothing else is changed. The correlation between historical values of Africa Oil's Roic and Free Cash Flow Per Share is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Roic of Africa Oil Corp are associated (or correlated) with its Free Cash Flow Per Share. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Free Cash Flow Per Share has no effect on the direction of Roic i.e., Africa Oil's Roic and Free Cash Flow Per Share go up and down completely randomly.

Correlation Coefficient

0.11

Relationship Direction	Positive
Relationship Strength	Insignificant

View All Relationships

Roic

Return on Invested Capital, a profitability ratio that measures the return that an investment generates for those who have provided capital, such as debt holders and equity holders.

Free Cash Flow Per Share

The amount of cash a company generates after accounting for capital expenditures, divided by the number of outstanding shares. It represents the cash available for dividends, share buybacks, or debt repayment per share.

Most indicators from Africa Oil's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Africa Oil Corp 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 Africa Oil Corp. 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.

As of the 29th of November 2024, Enterprise Value is likely to grow to about 710.2 M, while Selling General Administrative is likely to drop about 30.3 K.

	2023	2024 (projected)
Interest Income	7.8M	6.2M
Minority Interest	43.9M	39.0M

Interest Income Minority Interest

Africa Oil fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Cash	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Common Stock Shares Outstanding	Other Stockholder Equity	Total Liab	Total Current Assets	Short Term Debt	Common Stock	Other Current Assets	Inventory	Non Current Liabilities Total	Non Current Assets Total	Non Currrent Assets Other	Property Plant And Equipment Net	Property Plant And Equipment Gross
Total Assets		0.14	0.33	0.33	0.99	0.02	-0.36	-0.62	0.05	0.44	0.44	0.18	0.89	0.86	0.85	0.49	0.44	-0.46	0.88	0.19	0.26	0.36	0.83	-0.38	0.59	-0.71
Short Long Term Debt Total	0.14		-0.32	-0.32	0.12	0.6	0.38	-0.53	0.04	-0.39	-0.39	-0.15	0.43	0.32	0.49	0.26	-0.4	-0.22	0.38	-0.58	-0.82	0.52	0.45	0.55	-0.59	-0.18
Other Current Liab	0.33	-0.32		1.0	0.26	-0.16	-0.18	0.08	-0.06	0.16	0.16	-0.05	0.1	0.01	0.1	0.57	0.15	-0.15	0.12	0.33	0.44	0.11	0.27	-0.6	0.63	-0.31
Total Current Liabilities	0.33	-0.32	1.0		0.26	-0.16	-0.18	0.08	-0.06	0.16	0.16	-0.05	0.1	0.02	0.1	0.57	0.15	-0.14	0.12	0.34	0.44	0.11	0.27	-0.6	0.63	-0.31
Total Stockholder Equity	0.99	0.12	0.26	0.26		0.03	-0.42	-0.63	0.06	0.49	0.49	0.22	0.9	0.88	0.86	0.37	0.5	-0.47	0.89	0.2	0.25	0.26	0.79	-0.37	0.57	-0.68
Current Deferred Revenue	0.02	0.6	-0.16	-0.16	0.03		-0.02	-0.19	-0.02	-0.05	-0.05	-0.03	0.28	0.09	0.31	-0.01	-0.06	-0.16	0.18	-0.31	-0.52	0.11	0.12	0.35	-0.41	-0.09
Net Debt	-0.36	0.38	-0.18	-0.18	-0.42	-0.02		-0.02	-0.01	-0.97	-0.97	-0.29	-0.27	-0.21	-0.26	0.39	-0.96	0.21	-0.28	-0.5	-0.49	0.51	0.17	0.59	-0.33	0.36
Retained Earnings	-0.62	-0.53	0.08	0.08	-0.63	-0.19	-0.02		-0.55	-0.07	-0.07	-0.04	-0.86	-0.86	-0.87	-0.4	-0.07	0.18	-0.86	-0.19	0.18	-0.42	-0.68	0.03	-0.06	0.45
Accounts Payable	0.05	0.04	-0.06	-0.06	0.06	-0.02	-0.01	-0.55		0.06	0.06	-0.14	0.26	0.31	0.26	0.05	0.05	0.33	0.27	0.71	0.05	0.03	0.03	-0.07	-0.04	-0.02
Cash	0.44	-0.39	0.16	0.16	0.49	-0.05	-0.97	-0.07	0.06		1.0	0.3	0.33	0.3	0.31	-0.28	0.99	-0.2	0.33	0.53	0.55	-0.37	-0.11	-0.66	0.36	-0.4
Cash And Short Term Investments	0.44	-0.39	0.16	0.16	0.49	-0.05	-0.97	-0.07	0.06	1.0		0.3	0.33	0.3	0.3	-0.28	0.99	-0.2	0.33	0.53	0.56	-0.37	-0.11	-0.66	0.36	-0.4
Net Receivables	0.18	-0.15	-0.05	-0.05	0.22	-0.03	-0.29	-0.04	-0.14	0.3	0.3		0.15	0.17	0.13	-0.17	0.4	-0.12	0.16	0.04	0.19	-0.2	-0.05	-0.26	0.14	-0.11
Common Stock Total Equity	0.89	0.43	0.1	0.1	0.9	0.28	-0.27	-0.86	0.26	0.33	0.33	0.15		0.94	0.97	0.39	0.33	-0.31	0.99	0.14	0.01	0.35	0.81	-0.15	0.28	-0.71
Common Stock Shares Outstanding	0.86	0.32	0.01	0.02	0.88	0.09	-0.21	-0.86	0.31	0.3	0.3	0.17	0.94		0.9	0.35	0.31	-0.23	0.92	0.19	0.07	0.28	0.75	-0.18	0.27	-0.65
Other Stockholder Equity	0.85	0.49	0.1	0.1	0.86	0.31	-0.26	-0.87	0.26	0.31	0.3	0.13	0.97	0.9		0.39	0.31	-0.42	0.96	0.1	-0.14	0.37	0.79	-0.14	0.22	-0.58
Total Liab	0.49	0.26	0.57	0.57	0.37	-0.01	0.39	-0.4	0.05	-0.28	-0.28	-0.17	0.39	0.35	0.39		-0.29	-0.17	0.39	-0.06	0.03	0.84	0.71	-0.14	0.35	-0.37
Total Current Assets	0.44	-0.4	0.15	0.15	0.5	-0.06	-0.96	-0.07	0.05	0.99	0.99	0.4	0.33	0.31	0.31	-0.29		-0.2	0.34	0.51	0.56	-0.38	-0.11	-0.66	0.37	-0.39
Short Term Debt	-0.46	-0.22	-0.15	-0.14	-0.47	-0.16	0.21	0.18	0.33	-0.2	-0.2	-0.12	-0.31	-0.23	-0.42	-0.17	-0.2		-0.3	0.25	0.24	-0.17	-0.42	0.19	-0.31	0.0
Common Stock	0.88	0.38	0.12	0.12	0.89	0.18	-0.28	-0.86	0.27	0.33	0.33	0.16	0.99	0.92	0.96	0.39	0.34	-0.3		0.18	0.06	0.34	0.81	-0.19	0.33	-0.73
Other Current Assets	0.19	-0.58	0.33	0.34	0.2	-0.31	-0.5	-0.19	0.71	0.53	0.53	0.04	0.14	0.19	0.1	-0.06	0.51	0.25	0.18		0.65	-0.33	-0.13	-0.53	0.48	-0.16
Inventory	0.26	-0.82	0.44	0.44	0.25	-0.52	-0.49	0.18	0.05	0.55	0.56	0.19	0.01	0.07	-0.14	0.03	0.56	0.24	0.06	0.65		-0.26	-0.09	-0.67	0.72	-0.38
Non Current Liabilities Total	0.36	0.52	0.11	0.11	0.26	0.11	0.51	-0.42	0.03	-0.37	-0.37	-0.2	0.35	0.28	0.37	0.84	-0.38	-0.17	0.34	-0.33	-0.26		0.63	0.14	0.01	-0.22
Non Current Assets Total	0.83	0.45	0.27	0.27	0.79	0.12	0.17	-0.68	0.03	-0.11	-0.11	-0.05	0.81	0.75	0.79	0.71	-0.11	-0.42	0.81	-0.13	-0.09	0.63		0.01	0.41	-0.57
Non Currrent Assets Other	-0.38	0.55	-0.6	-0.6	-0.37	0.35	0.59	0.03	-0.07	-0.66	-0.66	-0.26	-0.15	-0.18	-0.14	-0.14	-0.66	0.19	-0.19	-0.53	-0.67	0.14	0.01		-0.61	0.25
Property Plant And Equipment Net	0.59	-0.59	0.63	0.63	0.57	-0.41	-0.33	-0.06	-0.04	0.36	0.36	0.14	0.28	0.27	0.22	0.35	0.37	-0.31	0.33	0.48	0.72	0.01	0.41	-0.61		-0.29
Property Plant And Equipment Gross	-0.71	-0.18	-0.31	-0.31	-0.68	-0.09	0.36	0.45	-0.02	-0.4	-0.4	-0.11	-0.71	-0.65	-0.58	-0.37	-0.39	0.0	-0.73	-0.16	-0.38	-0.22	-0.57	0.25	-0.29

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Africa Oil Account Relationship Matchups

Africa Oil fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	812.3M	910.5M	991.6M	917.7M	966.2M	541.3M
Other Current Liab	41.7M	12.3M	7.6M	44.5M	22.4M	27.3M
Total Current Liabilities	43.0M	12.5M	7.6M	44.5M	22.4M	26.6M
Total Stockholder Equity	766.7M	754.3M	948.1M	830.6M	894.6M	493.4M
Net Debt	(326.2M)	102.9M	(58.5M)	(199.3M)	(232M)	(220.4M)
Retained Earnings	(590.6M)	(610.7M)	(412.2M)	(496.3M)	(432.3M)	(410.7M)
Accounts Payable	30.6K	41.0M	10.5M	3.6M	4.2M	3.5M
Cash	329.5M	38.7M	58.5M	199.3M	232M	152.8M
Cash And Short Term Investments	329.5M	38.7M	58.5M	199.3M	232M	152.9M
Net Receivables	161K	1.4M	658K	1.4M	5.1M	4.8M
Common Stock Total Equity	1.3B	1.3B	1.3B	1.3B	1.5B	1.1B
Common Stock Shares Outstanding	471.1M	471.8M	477.4M	474.4M	472.9M	245.0M
Liabilities And Stockholders Equity	812.3M	910.5M	991.6M	917.7M	966.2M	541.3M
Other Stockholder Equity	51.4M	50.8M	51.2M	59.2M	61.6M	46.0M
Total Liab	45.6M	156.2M	43.6M	87.1M	71.6M	41.8M
Total Current Assets	333.7M	41.9M	59.5M	201.1M	237.1M	158.7M
Common Stock	1.3B	1.3B	1.3B	1.3B	1.3B	1.2B
Other Current Assets	4.3M	1.4K	(387.4K)	400K	5.1K	4.8K
Non Current Liabilities Total	2.6M	143.7M	35.9M	42.6M	49.2M	28.1M
Non Current Assets Total	478.6M	868.6M	932.1M	716.6M	729.1M	540.2M
Non Currrent Assets Other	(411.7M)	(190.4M)	(932.1K)	2M	2.8M	2.9M
Property Plant And Equipment Net	415.0M	191.1M	194.3M	63.6M	19.1M	18.1M
Property Plant And Equipment Gross	105K	36K	3.3M	730K	657K	624.2K
Intangible Assets	411.7M	190.4M	194.3K	63.6K	19.1K	18.1K
Net Tangible Assets	355.0M	563.9M	754.0M	767M	882.1M	462.4M
Property Plant Equipment	3.3M	730K	209K	63.6M	57.2M	80.2M
Other Liab	587K	2.4M	35.9M	42.6M	49.0M	51.4M
Capital Surpluse	51.4M	50.8M	51.1M	59.2M	68.1M	56.3M
Long Term Investments	63.6M	677.5M	737.8M	651M	707.2M	358.6M
Cash And Equivalents	329.5M	38.7M	58.5M	199.3M	179.4M	211.6M
Net Invested Capital	766.7M	895.3M	948.1M	830.6M	894.6M	712.1M
Net Working Capital	290.7M	29.3M	51.9M	156.6M	214.7M	173.8M
Capital Stock	1.3B	1.3B	1.3B	1.3B	1.3B	1.0B

Pair Trading with Africa Oil

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 Africa Oil 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 Africa Oil will appreciate offsetting losses from the drop in the long position's value.

The ability to find closely correlated positions to Africa Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Africa Oil 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 Africa Oil - 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 Africa Oil Corp to buy it.

The correlation of Africa Oil 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 Africa Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Africa Oil Corp 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 Africa Oil 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 Correlation Correlation Matching

Other Information on Investing in Africa Stock

Balance Sheet is a snapshot of the financial position of Africa Oil Corp at a specified time, usually calculated after every quarter, six months, or one year. Africa Oil Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Africa Oil and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which Africa currently owns. An asset can also be divided into two categories, current and non-current.

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Africa Roic vs Free Cash Flow Per Share Analysis

Roic vs Free Cash Flow Per Share

Roic vs Free Cash Flow Per Share Correlation Analysis

Correlation Coefficient

Roic

Free Cash Flow Per Share

Africa Oil fundamental ratios Correlations

Africa Oil Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Africa Oil fundamental ratios Accounts

Pair Trading with Africa Oil

Other Information on Investing in Africa Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Total Current Liabilities	+ 1.0	Other Current Liab
Cash And Short Term Investments	+ 1.0	Cash
Total Stockholder Equity	+ 0.99	Total Assets
Total Current Assets	+ 0.99	Cash
Total Current Assets	+ 0.99	Cash And Short Term Investments
Common Stock	+ 0.99	Common Stock Total Equity

Cash And Short Term Investments	- 0.97	Net Debt
Cash	- 0.97	Net Debt
Total Current Assets	- 0.96	Net Debt
Other Stockholder Equity	- 0.87	Retained Earnings
Common Stock	- 0.86	Retained Earnings
Common Stock Shares Outstanding	- 0.86	Retained Earnings