Covalon Inventory Turnover vs Capex To Depreciation Analysis

COV Stock  CAD 3.48  0.08  2.25%   
Covalon Technologies financial indicator trend analysis is way more than just evaluating Covalon Technologies prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Covalon Technologies is a good investment. Please check the relationship between Covalon Technologies Inventory Turnover and its Capex To Depreciation accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Covalon Technologies. 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.

Inventory Turnover vs Capex To Depreciation

Inventory Turnover vs Capex To Depreciation Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Covalon Technologies Inventory Turnover account and Capex To Depreciation. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between Covalon Technologies' Inventory Turnover and Capex To Depreciation is -0.36. Overlapping area represents the amount of variation of Inventory Turnover that can explain the historical movement of Capex To Depreciation in the same time period over historical financial statements of Covalon Technologies, assuming nothing else is changed. The correlation between historical values of Covalon Technologies' Inventory Turnover and Capex To Depreciation is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Inventory Turnover of Covalon Technologies are associated (or correlated) with its Capex To Depreciation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Capex To Depreciation has no effect on the direction of Inventory Turnover i.e., Covalon Technologies' Inventory Turnover and Capex To Depreciation go up and down completely randomly.

Correlation Coefficient

-0.36
Relationship DirectionNegative 
Relationship StrengthInsignificant

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period, indicating the efficiency of inventory management.

Capex To Depreciation

The ratio of a company's capital expenditures to its depreciation expenses, indicating how much the company is investing in physical assets relative to the aging of existing assets.
Most indicators from Covalon Technologies' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Covalon Technologies 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 Covalon Technologies. 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.
Sales General And Administrative To Revenue is likely to climb to 0.56 in 2024, whereas Selling General Administrative is likely to drop slightly above 5.3 M in 2024.
 2021 2022 2023 2024 (projected)
Other Operating Expenses27.3M31.1M35.8M37.6M
Depreciation And Amortization1.0M969.4K1.1M1.2M

Covalon Technologies fundamental ratios Correlations

0.710.830.79-0.07-0.40.760.810.59-0.30.80.70.870.850.580.070.740.91-0.19-0.260.68-0.520.620.9-0.50.39
0.710.190.860.64-0.620.980.170.97-0.250.160.260.550.730.040.070.990.370.060.270.75-0.850.970.59-0.06-0.29
0.830.190.46-0.61-0.060.290.980.04-0.220.970.80.810.620.790.040.230.98-0.35-0.610.28-0.040.070.81-0.70.79
0.790.860.460.34-0.530.920.40.78-0.220.390.460.710.720.350.120.820.57-0.070.00.5-0.830.780.73-0.360.05
-0.070.64-0.610.34-0.420.55-0.630.730.03-0.64-0.42-0.170.09-0.60.00.61-0.470.270.750.39-0.660.71-0.140.49-0.85
-0.4-0.62-0.06-0.53-0.42-0.61-0.02-0.540.82-0.02-0.3-0.5-0.570.11-0.03-0.61-0.21-0.25-0.02-0.320.49-0.56-0.430.130.14
0.760.980.290.920.55-0.610.250.92-0.250.240.370.650.780.150.030.950.45-0.040.140.66-0.830.920.67-0.2-0.16
0.810.170.980.4-0.63-0.020.250.05-0.221.00.70.720.530.810.050.220.96-0.22-0.630.35-0.050.090.72-0.580.74
0.590.970.040.780.73-0.540.920.05-0.110.040.10.360.61-0.090.090.970.210.120.440.81-0.90.990.460.09-0.4
-0.3-0.25-0.22-0.220.030.82-0.25-0.22-0.11-0.24-0.35-0.45-0.36-0.1-0.01-0.26-0.31-0.350.39-0.070.06-0.17-0.310.16-0.12
0.80.160.970.39-0.64-0.020.241.00.04-0.240.720.70.530.810.070.210.95-0.22-0.640.34-0.040.070.71-0.590.76
0.70.260.80.46-0.42-0.30.370.70.1-0.350.720.790.80.460.020.260.8-0.51-0.470.16-0.030.080.86-0.840.81
0.870.550.810.71-0.17-0.50.650.720.36-0.450.70.790.830.52-0.040.540.88-0.26-0.40.33-0.30.410.92-0.70.48
0.850.730.620.720.09-0.570.780.530.61-0.360.530.80.830.260.050.730.72-0.35-0.110.59-0.440.60.92-0.590.37
0.580.040.790.35-0.60.110.150.81-0.09-0.10.810.460.520.260.040.050.74-0.2-0.760.08-0.03-0.030.46-0.480.59
0.070.070.040.120.0-0.030.030.050.09-0.010.070.02-0.040.050.040.070.040.10.160.06-0.10.050.05-0.10.08
0.740.990.230.820.61-0.610.950.220.97-0.260.210.260.540.730.050.070.40.080.270.83-0.840.980.59-0.03-0.27
0.910.370.980.57-0.47-0.210.450.960.21-0.310.950.80.880.720.740.040.4-0.29-0.550.41-0.160.250.86-0.660.69
-0.190.06-0.35-0.070.27-0.25-0.04-0.220.12-0.35-0.22-0.51-0.26-0.35-0.20.10.08-0.290.110.09-0.150.16-0.380.44-0.48
-0.260.27-0.610.00.75-0.020.14-0.630.440.39-0.64-0.47-0.4-0.11-0.760.160.27-0.550.110.3-0.390.36-0.240.47-0.64
0.680.750.280.50.39-0.320.660.350.81-0.070.340.160.330.590.080.060.830.410.090.3-0.630.810.470.11-0.17
-0.52-0.85-0.04-0.83-0.660.49-0.83-0.05-0.90.06-0.04-0.03-0.3-0.44-0.03-0.1-0.84-0.16-0.15-0.39-0.63-0.89-0.39-0.090.36
0.620.970.070.780.71-0.560.920.090.99-0.170.070.080.410.6-0.030.050.980.250.160.360.81-0.890.450.12-0.43
0.90.590.810.73-0.14-0.430.670.720.46-0.310.710.860.920.920.460.050.590.86-0.38-0.240.47-0.390.45-0.710.56
-0.5-0.06-0.7-0.360.490.13-0.2-0.580.090.16-0.59-0.84-0.7-0.59-0.48-0.1-0.03-0.660.440.470.11-0.090.12-0.71-0.79
0.39-0.290.790.05-0.850.14-0.160.74-0.4-0.120.760.810.480.370.590.08-0.270.69-0.48-0.64-0.170.36-0.430.56-0.79
Click cells to compare fundamentals

Covalon Technologies Account Relationship Matchups

Covalon Technologies fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets34.7M40.6M30.4M24.9M28.6M18.5M
Total Current Liabilities22.6M5.0M4.5M5.2M6.0M4.9M
Total Stockholder Equity9.1M33.4M24.2M18.8M21.6M12.3M
Property Plant And Equipment Net4.6M2.1M1.9M1.7M1.9M1.2M
Net Debt17.4M(20.4M)(11.9M)(7.2M)(6.5M)(6.2M)
Retained Earnings(47.7M)(24.2M)(33.9M)(38.4M)(34.5M)(36.3M)
Accounts Payable14.0M4.0M3.7M3.8M4.4M3.8M
Cash3.5M22.9M14.1M8.8M10.1M6.3M
Non Current Assets Total19.8M3.1M3.2M3.6M4.2M5.2M
Non Currrent Assets Other36.6K37.3K137.1K135.2K121.7K115.6K
Cash And Short Term Investments3.5M22.9M14.1M8.8M10.1M7.6M
Net Receivables3.3M6.4M4.7M6.2M7.1M7.4M
Common Stock Shares Outstanding25.8M25.8M25.8M24.9M28.6M15.1M
Liabilities And Stockholders Equity34.7M40.6M30.4M24.9M28.6M18.5M
Inventory7.2M4.7M5.0M5.9M6.8M7.2M
Other Current Assets809.4K3.4M3.5M390.1K448.6K637.1K
Other Stockholder Equity11.7M11.8M11.3M11.4M10.3M12.8M
Total Liab25.6M7.2M6.1M6.1M7.0M6.1M
Total Current Assets14.8M37.4M27.2M21.3M24.5M13.3M
Accumulated Other Comprehensive Income565.8K1.1M3.0M3.0M3.4M3.6M
Current Deferred Revenue498.1K414.6K209.1K80.7K72.6K69.0K
Intangible Assets2.2M897.9K1.3M1.8M2.1M1.6M
Non Current Liabilities Total3.0M2.2M1.6M919.1K1.1M1.5M
Other Current Liab(10.1M)414.6K209.1K668.0K601.2K631.2K
Short Long Term Debt Total20.9M2.6M2.2M1.6M1.8M1.7M
Other Liab438.9K290.1K162.4K51.4K46.3K43.9K
Net Tangible Assets259.4K(5.6M)32.9M23.2M26.7M28.1M
Other Assets648.5K542.3K513.2K290.3K261.3K248.2K
Deferred Long Term Liab611.8K505.0K376.1K290.3K261.3K248.2K
Short Term Debt18.2M541.4K609.6K643.4K739.9K702.9K
Property Plant Equipment1.9M4.6M2.1M1.9M2.2M1.7M
Net Invested Capital26.8M33.4M24.2M18.8M21.6M25.1M
Net Working Capital(7.8M)32.4M22.7M16.1M18.5M13.4M

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