Innergex Capex To Depreciation vs Ptb Ratio Analysis

INE Stock

CAD 8.73 0.02 0.23%

Innergex Renewable financial indicator trend analysis is infinitely more than just investigating Innergex Renewable Energy recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Innergex Renewable Energy is a good investment. Please check the relationship between Innergex Renewable Capex To Depreciation and its Ptb Ratio accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Innergex Renewable Energy. 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.

Capex To Depreciation vs Ptb Ratio

Capex To Depreciation vs Ptb Ratio Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Innergex Renewable Energy Capex To Depreciation account and Ptb Ratio. At this time, the significance of the direction appears to have weak contrarian relationship.

The correlation between Innergex Renewable's Capex To Depreciation and Ptb Ratio is -0.09. Overlapping area represents the amount of variation of Capex To Depreciation that can explain the historical movement of Ptb Ratio in the same time period over historical financial statements of Innergex Renewable Energy, assuming nothing else is changed. The correlation between historical values of Innergex Renewable's Capex To Depreciation and Ptb Ratio is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Capex To Depreciation of Innergex Renewable Energy are associated (or correlated) with its Ptb Ratio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Ptb Ratio has no effect on the direction of Capex To Depreciation i.e., Innergex Renewable's Capex To Depreciation and Ptb Ratio go up and down completely randomly.

Correlation Coefficient

-0.09

Relationship Direction	Negative
Relationship Strength	Insignificant

View All Relationships

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.

Ptb Ratio

Price-to-Book ratio, a financial valuation metric used to compare a company's current market price to its book value. It provides insight into the value that market participants place on the company's equity relative to its net asset value.

Most indicators from Innergex Renewable's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Innergex Renewable Energy 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Innergex Renewable Energy. 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.

At this time, Innergex Renewable's Discontinued Operations is very stable compared to the past year. As of the 29th of November 2024, Sales General And Administrative To Revenue is likely to grow to 0.12, while Selling General Administrative is likely to drop about 36.9 M.

	2021	2022	2023	2024 (projected)
Gross Profit	342.5M	326.7M	781.6M	820.7M
Total Revenue	747.2M	870.5M	1.0B	1.1B

Gross Profit Total Revenue

Innergex Renewable fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Net Tangible Assets	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Other Assets	Long Term Debt	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Common Stock Shares Outstanding	Non Current Liabilities Total	Other Current Assets	Total Liab	Property Plant And Equipment Gross	Short Long Term Debt	Total Current Assets	Short Term Debt
Total Assets		1.0	0.67	0.79	0.8	-0.5	1.0	1.0	-0.97	0.95	0.84	1.0	0.82	0.84	0.99	0.84	0.84	0.31	0.86	0.99	0.46	1.0	0.98	-0.2	0.89	0.71
Short Long Term Debt Total	1.0		0.65	0.77	0.75	-0.55	1.0	1.0	-0.96	0.96	0.82	1.0	0.8	0.81	1.0	0.82	0.85	0.3	0.83	1.0	0.44	1.0	0.98	-0.26	0.88	0.69
Other Current Liab	0.67	0.65		0.84	0.72	-0.26	0.67	0.65	-0.62	0.5	0.84	0.67	0.78	0.47	0.61	0.84	0.34	0.46	0.79	0.64	0.56	0.67	0.6	-0.23	0.65	0.77
Total Current Liabilities	0.79	0.77	0.84		0.77	-0.42	0.78	0.77	-0.68	0.63	0.91	0.79	0.86	0.5	0.72	0.91	0.45	0.31	0.82	0.74	0.46	0.78	0.7	-0.11	0.65	0.98
Total Stockholder Equity	0.8	0.75	0.72	0.77		-0.17	0.79	0.75	-0.81	0.69	0.88	0.8	0.89	0.77	0.74	0.88	0.59	0.4	0.95	0.75	0.6	0.76	0.78	0.1	0.78	0.69
Net Tangible Assets	-0.5	-0.55	-0.26	-0.42	-0.17		-0.5	-0.55	0.35	-0.55	-0.3	-0.51	-0.27	-0.06	-0.55	-0.3	-0.54	0.07	-0.39	-0.53	-0.01	-0.53	-0.42	0.44	-0.28	-0.37
Property Plant And Equipment Net	1.0	1.0	0.67	0.78	0.79	-0.5		1.0	-0.97	0.95	0.84	1.0	0.81	0.83	0.99	0.84	0.85	0.32	0.85	1.0	0.45	1.0	0.99	-0.23	0.89	0.69
Net Debt	1.0	1.0	0.65	0.77	0.75	-0.55	1.0		-0.96	0.96	0.82	1.0	0.8	0.81	1.0	0.82	0.85	0.3	0.83	1.0	0.44	1.0	0.98	-0.26	0.88	0.69
Retained Earnings	-0.97	-0.96	-0.62	-0.68	-0.81	0.35	-0.97	-0.96		-0.93	-0.81	-0.96	-0.78	-0.88	-0.96	-0.81	-0.85	-0.36	-0.85	-0.97	-0.52	-0.96	-0.99	0.24	-0.92	-0.58
Accounts Payable	0.95	0.96	0.5	0.63	0.69	-0.55	0.95	0.96	-0.93		0.69	0.95	0.71	0.81	0.97	0.69	0.88	0.22	0.76	0.97	0.43	0.96	0.95	-0.25	0.86	0.53
Cash	0.84	0.82	0.84	0.91	0.88	-0.3	0.84	0.82	-0.81	0.69		0.84	0.93	0.68	0.79	1.0	0.56	0.43	0.91	0.81	0.51	0.84	0.8	-0.11	0.75	0.84
Non Current Assets Total	1.0	1.0	0.67	0.79	0.8	-0.51	1.0	1.0	-0.96	0.95	0.84		0.82	0.84	0.99	0.84	0.84	0.3	0.85	0.99	0.44	1.0	0.98	-0.2	0.88	0.71
Non Currrent Assets Other	0.82	0.8	0.78	0.86	0.89	-0.27	0.81	0.8	-0.78	0.71	0.93	0.82		0.69	0.77	0.93	0.52	0.37	0.9	0.79	0.54	0.81	0.77	0.0	0.74	0.79
Other Assets	0.84	0.81	0.47	0.5	0.77	-0.06	0.83	0.81	-0.88	0.81	0.68	0.84	0.69		0.82	0.68	0.75	0.26	0.71	0.83	0.36	0.82	0.88	0.16	0.79	0.41
Long Term Debt	0.99	1.0	0.61	0.72	0.74	-0.55	0.99	1.0	-0.96	0.97	0.79	0.99	0.77	0.82		0.79	0.88	0.3	0.82	1.0	0.44	0.99	0.98	-0.25	0.89	0.63
Cash And Short Term Investments	0.84	0.82	0.84	0.91	0.88	-0.3	0.84	0.82	-0.81	0.69	1.0	0.84	0.93	0.68	0.79		0.56	0.43	0.91	0.81	0.51	0.84	0.8	-0.11	0.75	0.84
Net Receivables	0.84	0.85	0.34	0.45	0.59	-0.54	0.85	0.85	-0.85	0.88	0.56	0.84	0.52	0.75	0.88	0.56		0.35	0.66	0.86	0.26	0.84	0.86	-0.22	0.77	0.36
Common Stock Total Equity	0.31	0.3	0.46	0.31	0.4	0.07	0.32	0.3	-0.36	0.22	0.43	0.3	0.37	0.26	0.3	0.43	0.35		0.44	0.3	0.58	0.31	0.3	-0.16	0.54	0.26
Common Stock Shares Outstanding	0.86	0.83	0.79	0.82	0.95	-0.39	0.85	0.83	-0.85	0.76	0.91	0.85	0.9	0.71	0.82	0.91	0.66	0.44		0.83	0.63	0.84	0.82	-0.08	0.81	0.71
Non Current Liabilities Total	0.99	1.0	0.64	0.74	0.75	-0.53	1.0	1.0	-0.97	0.97	0.81	0.99	0.79	0.83	1.0	0.81	0.86	0.3	0.83		0.44	1.0	0.98	-0.25	0.89	0.65
Other Current Assets	0.46	0.44	0.56	0.46	0.6	-0.01	0.45	0.44	-0.52	0.43	0.51	0.44	0.54	0.36	0.44	0.51	0.26	0.58	0.63	0.44		0.45	0.44	-0.17	0.76	0.37
Total Liab	1.0	1.0	0.67	0.78	0.76	-0.53	1.0	1.0	-0.96	0.96	0.84	1.0	0.81	0.82	0.99	0.84	0.84	0.31	0.84	1.0	0.45		0.98	-0.24	0.89	0.7
Property Plant And Equipment Gross	0.98	0.98	0.6	0.7	0.78	-0.42	0.99	0.98	-0.99	0.95	0.8	0.98	0.77	0.88	0.98	0.8	0.86	0.3	0.82	0.98	0.44	0.98		-0.23	0.89	0.61
Short Long Term Debt	-0.2	-0.26	-0.23	-0.11	0.1	0.44	-0.23	-0.26	0.24	-0.25	-0.11	-0.2	0.0	0.16	-0.25	-0.11	-0.22	-0.16	-0.08	-0.25	-0.17	-0.24	-0.23		-0.21	-0.04
Total Current Assets	0.89	0.88	0.65	0.65	0.78	-0.28	0.89	0.88	-0.92	0.86	0.75	0.88	0.74	0.79	0.89	0.75	0.77	0.54	0.81	0.89	0.76	0.89	0.89	-0.21		0.56
Short Term Debt	0.71	0.69	0.77	0.98	0.69	-0.37	0.69	0.69	-0.58	0.53	0.84	0.71	0.79	0.41	0.63	0.84	0.36	0.26	0.71	0.65	0.37	0.7	0.61	-0.04	0.56

Click cells to compare fundamentals

Innergex Renewable Account Relationship Matchups

Innergex Renewable fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	6.4B	7.2B	7.4B	8.6B	8.9B	9.4B
Short Long Term Debt Total	4.8B	5.0B	5.1B	6.0B	6.6B	6.9B
Other Current Liab	134.9M	173.1M	135.3M	120.9M	110.4M	79.0M
Total Current Liabilities	641.4M	1.0B	733.5M	650.8M	566.4M	344.0M
Total Stockholder Equity	604.4M	1.0B	1.1B	1.3B	1.1B	623.4M
Net Tangible Assets	(269.6M)	(117.5M)	(142.8M)	(223.5M)	(201.2M)	(211.2M)
Property Plant And Equipment Net	4.6B	5.1B	5.5B	6.2B	6.6B	6.9B
Net Debt	4.7B	4.8B	4.9B	5.9B	6.4B	6.7B
Retained Earnings	(879.8M)	(1.0B)	(1.4B)	(1.6B)	(1.8B)	(1.7B)
Accounts Payable	85.7M	84.8M	71.9M	139.9M	149.1M	156.6M
Cash	156.2M	161.5M	166.3M	163.0M	159.2M	80.3M
Non Current Assets Total	6.1B	6.7B	7.0B	8.1B	8.4B	8.8B
Non Currrent Assets Other	150.3M	167.3M	134.4M	192.7M	137.3M	93.5M
Other Assets	191.7M	206.6M	255.7M	318.5M	366.2M	384.6M
Long Term Debt	4.3B	4.0B	4.4B	5.4B	6.0B	6.3B
Cash And Short Term Investments	156.2M	161.5M	166.3M	163.0M	159.2M	80.4M
Net Receivables	61.5M	63.7M	84.2M	124.3M	149.5M	157.0M
Common Stock Shares Outstanding	134.7M	170.3M	180.9M	201.8M	203.6M	111.5M
Liabilities And Stockholders Equity	6.4B	7.2B	7.4B	8.6B	8.9B	9.4B
Non Current Liabilities Total	5.1B	5.0B	5.3B	6.5B	7.2B	7.5B
Other Current Assets	108.6M	236.7M	141.8M	239.8M	209.4M	110.5M
Total Liab	5.8B	6.1B	6.0B	7.1B	7.7B	8.1B
Property Plant And Equipment Gross	4.6B	5.1B	6.6B	7.5B	8.2B	8.7B
Short Long Term Debt	410.1M	767.2M	513.2M	374.4M	248.9M	368.3M
Total Current Assets	305.6M	452.5M	388.7M	527.2M	518.1M	544.0M
Short Term Debt	413.3M	772.4M	517.3M	379.9M	255.0M	198.4M
Common Stock	97.2M	4.2M	360.9M	485K	1.3M	1.2M
Property Plant Equipment	4.6B	5.1B	5.5B	6.2B	7.1B	7.5B
Other Liab	717.3M	832.3M	737.7M	820.0M	943.0M	990.2M
Current Deferred Revenue	85.3M	105.5M	102.5M	37.3M	42.9M	44.4M
Good Will	60.7M	75.9M	60.9M	139.7M	176.6M	185.4M
Other Stockholder Equity	1.3B	2.0B	2.0B	2.6B	2.6B	2.7B
Long Term Investments	511.9M	446.8M	133.4M	151.6M	151.9M	176.7M
Accumulated Other Comprehensive Income	(15.2M)	(111.7M)	(50.6M)	196.7M	135.7M	142.5M
Intangible Assets	693.4M	933.4M	1.1B	1.3B	1.3B	680.6M
Inventory	39.5M	67.5M	61.7M	90.8M	81.7M	71.6M
Long Term Debt Total	4.4B	4.2B	4.6B	5.6B	6.5B	4.5B
Capital Surpluse	1.3B	2.0B	2.0B	2.6B	3.0B	1.7B

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

0.84

ELF-PH

E L Financial

Pair Corr

Moving against Innergex Stock

0.76	ELF	E L Financial	Pair Corr
0.72	FFH-PD	Fairfax Financial	Pair Corr
0.59	TPX-B	Molson Coors Canada	Pair Corr
0.59	FFH	Fairfax Financial	Pair Corr
0.58	FFH-PM	Fairfax Financial	Pair Corr

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.

Pair Correlation Correlation Matching

Other Information on Investing in Innergex Stock

Balance Sheet is a snapshot of the financial position of Innergex Renewable Energy at a specified time, usually calculated after every quarter, six months, or one year. Innergex Renewable Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Innergex Renewable 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 Innergex currently owns. An asset can also be divided into two categories, current and non-current.

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Innergex Capex To Depreciation vs Ptb Ratio Analysis

Capex To Depreciation vs Ptb Ratio

Capex To Depreciation vs Ptb Ratio Correlation Analysis

Correlation Coefficient

Capex To Depreciation

Ptb Ratio

Innergex Renewable fundamental ratios Correlations

Innergex Renewable Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Innergex Renewable fundamental ratios Accounts

Pair Trading with Innergex Renewable

Moving together with Innergex Stock

Moving against Innergex Stock

Other Information on Investing in Innergex Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Short Long Term Debt Total	+ 1.0	Total Assets
Property Plant And Equipment Net	+ 1.0	Total Assets
Net Debt	+ 1.0	Total Assets
Non Current Assets Total	+ 1.0	Total Assets
Total Liab	+ 1.0	Total Assets
Property Plant And Equipment Net	+ 1.0	Short Long Term Debt Total

Property Plant And Equipment Gross	- 0.99	Retained Earnings
Non Current Liabilities Total	- 0.97	Retained Earnings
Retained Earnings	- 0.97	Property Plant And Equipment Net
Retained Earnings	- 0.97	Total Assets
Total Liab	- 0.96	Retained Earnings
Long Term Debt	- 0.96	Retained Earnings