Major Total Assets vs Inventory Analysis

MDI Stock

CAD 9.13 0.17 1.83%

Major Drilling financial indicator trend analysis is infinitely more than just investigating Major Drilling Group recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Major Drilling Group is a good investment. Please check the relationship between Major Drilling Total Assets and its Inventory accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Major Drilling Group. 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.

Total Assets vs Inventory

Total Assets vs Inventory Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Major Drilling Group Total Assets account and Inventory. At this time, the significance of the direction appears to have very strong relationship.

The correlation between Major Drilling's Total Assets and Inventory is 0.82. Overlapping area represents the amount of variation of Total Assets that can explain the historical movement of Inventory in the same time period over historical financial statements of Major Drilling Group, assuming nothing else is changed. The correlation between historical values of Major Drilling's Total Assets and Inventory is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Total Assets of Major Drilling Group are associated (or correlated) with its Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Inventory has no effect on the direction of Total Assets i.e., Major Drilling's Total Assets and Inventory go up and down completely randomly.

Correlation Coefficient

0.82

Relationship Direction	Positive
Relationship Strength	Strong

View All Relationships

Total Assets

Total assets refers to the total amount of Major Drilling assets owned. Assets are items that have some economic value and are expended over time to create a benefit for the owner. These assets are usually recorded in Major Drilling Group books under different categories such as cash, marketable securities, accounts receivable,prepaid expenses, inventory, fixed assets, intangible assets, other assets, marketable securities, accounts receivable, prepaid expenses and others. The total value of all owned resources that are expected to provide future economic benefits to the business, including cash, investments, accounts receivable, inventory, property, plant, equipment, and intangible assets.

Inventory

Most indicators from Major Drilling's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Major Drilling Group 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 Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Major Drilling Group. 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, Major Drilling's Tax Provision is very stable compared to the past year. As of the 18th of February 2025, Sales General And Administrative To Revenue is likely to grow to 0.13, while Selling General Administrative is likely to drop about 43.9 M.

	2022	2023	2024	2025 (projected)
Gross Profit	176.9M	151.7M	174.4M	105.8M
Total Revenue	735.7M	706.7M	812.7M	410.1M

Gross Profit Total Revenue

Major Drilling fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Short Term Debt	Short Term Investments	Current Deferred Revenue	Good Will
Total Assets		0.3	0.38	0.75	0.97	0.92	-0.36	0.71	0.7	0.54	0.88	0.07	0.54	0.76	0.81	0.42	0.82	0.57	-0.55	0.71	0.47	0.85	0.38	-0.76	0.83	-0.09
Short Long Term Debt Total	0.3		-0.16	0.39	0.11	0.28	0.49	0.08	0.43	-0.04	0.23	-0.42	-0.04	0.39	0.2	0.94	0.23	0.23	-0.12	0.7	0.39	0.29	0.32	-0.25	0.07	-0.19
Other Current Liab	0.38	-0.16		0.55	0.36	0.21	-0.65	0.31	0.51	0.66	0.07	0.18	0.66	0.49	0.23	-0.17	0.47	0.61	-0.6	0.3	0.03	0.62	-0.22	-0.11	0.34	-0.45
Total Current Liabilities	0.75	0.39	0.55		0.6	0.52	-0.28	0.4	0.99	0.54	0.41	-0.26	0.54	0.98	0.57	0.48	0.77	0.9	-0.74	0.91	0.66	0.91	-0.02	-0.5	0.67	-0.42
Total Stockholder Equity	0.97	0.11	0.36	0.6		0.93	-0.43	0.74	0.53	0.5	0.91	0.22	0.5	0.61	0.79	0.22	0.76	0.42	-0.44	0.52	0.33	0.75	0.43	-0.73	0.79	0.03
Property Plant And Equipment Net	0.92	0.28	0.21	0.52	0.93		-0.29	0.85	0.44	0.44	0.97	0.33	0.44	0.52	0.66	0.39	0.58	0.29	-0.34	0.54	0.3	0.61	0.67	-0.67	0.74	0.12
Net Debt	-0.36	0.49	-0.65	-0.28	-0.43	-0.29		-0.37	-0.18	-0.86	-0.17	-0.2	-0.86	-0.18	-0.26	0.34	-0.37	-0.47	0.57	-0.03	-0.14	-0.47	0.11	0.19	-0.55	0.31
Retained Earnings	0.71	0.08	0.31	0.4	0.74	0.85	-0.37		0.31	0.43	0.79	0.56	0.43	0.35	0.22	0.12	0.23	0.23	-0.12	0.34	0.09	0.41	0.72	-0.23	0.47	0.3
Accounts Payable	0.7	0.43	0.51	0.99	0.53	0.44	-0.18	0.31		0.44	0.34	-0.35	0.44	0.99	0.56	0.49	0.77	0.9	-0.71	0.91	0.66	0.89	-0.09	-0.49	0.58	-0.44
Cash	0.54	-0.04	0.66	0.54	0.5	0.44	-0.86	0.43	0.44		0.29	0.03	1.0	0.41	0.39	0.13	0.52	0.63	-0.76	0.43	0.32	0.66	-0.01	-0.35	0.68	-0.48
Non Current Assets Total	0.88	0.23	0.07	0.41	0.91	0.97	-0.17	0.79	0.34	0.29		0.34	0.29	0.44	0.67	0.35	0.52	0.14	-0.19	0.45	0.21	0.49	0.65	-0.69	0.69	0.31
Non Currrent Assets Other	0.07	-0.42	0.18	-0.26	0.22	0.33	-0.2	0.56	-0.35	0.03	0.34		0.03	-0.28	-0.19	-0.41	-0.3	-0.43	0.26	-0.37	-0.54	-0.25	0.45	0.16	0.02	0.48
Cash And Short Term Investments	0.54	-0.04	0.66	0.54	0.5	0.44	-0.86	0.43	0.44	1.0	0.29	0.03		0.41	0.39	0.13	0.52	0.63	-0.76	0.43	0.32	0.66	-0.01	-0.35	0.68	-0.48
Net Receivables	0.76	0.39	0.49	0.98	0.61	0.52	-0.18	0.35	0.99	0.41	0.44	-0.28	0.41		0.64	0.47	0.8	0.86	-0.7	0.89	0.66	0.9	-0.06	-0.56	0.65	-0.37
Common Stock Shares Outstanding	0.81	0.2	0.23	0.57	0.79	0.66	-0.26	0.22	0.56	0.39	0.67	-0.19	0.39	0.64		0.37	0.9	0.44	-0.64	0.57	0.47	0.74	0.05	-0.96	0.8	-0.3
Non Current Liabilities Total	0.42	0.94	-0.17	0.48	0.22	0.39	0.34	0.12	0.49	0.13	0.35	-0.41	0.13	0.47	0.37		0.34	0.29	-0.31	0.79	0.48	0.37	0.26	-0.45	0.33	-0.2
Inventory	0.82	0.23	0.47	0.77	0.76	0.58	-0.37	0.23	0.77	0.52	0.52	-0.3	0.52	0.8	0.9	0.34		0.71	-0.76	0.69	0.51	0.92	-0.1	-0.8	0.75	-0.47
Other Current Assets	0.57	0.23	0.61	0.9	0.42	0.29	-0.47	0.23	0.9	0.63	0.14	-0.43	0.63	0.86	0.44	0.29	0.71		-0.8	0.76	0.71	0.87	-0.22	-0.36	0.56	-0.62
Other Stockholder Equity	-0.55	-0.12	-0.6	-0.74	-0.44	-0.34	0.57	-0.12	-0.71	-0.76	-0.19	0.26	-0.76	-0.7	-0.64	-0.31	-0.76	-0.8		-0.66	-0.58	-0.79	0.27	0.61	-0.73	0.76
Total Liab	0.71	0.7	0.3	0.91	0.52	0.54	-0.03	0.34	0.91	0.43	0.45	-0.37	0.43	0.89	0.57	0.79	0.69	0.76	-0.66		0.68	0.8	0.11	-0.56	0.62	-0.38
Property Plant And Equipment Gross	0.47	0.39	0.03	0.66	0.33	0.3	-0.14	0.09	0.66	0.32	0.21	-0.54	0.32	0.66	0.47	0.48	0.51	0.71	-0.58	0.68		0.62	0.0	-0.45	0.53	-0.47
Total Current Assets	0.85	0.29	0.62	0.91	0.75	0.61	-0.47	0.41	0.89	0.66	0.49	-0.25	0.66	0.9	0.74	0.37	0.92	0.87	-0.79	0.8	0.62		-0.02	-0.62	0.74	-0.5
Short Term Debt	0.38	0.32	-0.22	-0.02	0.43	0.67	0.11	0.72	-0.09	-0.01	0.65	0.45	-0.01	-0.06	0.05	0.26	-0.1	-0.22	0.27	0.11	0.0	-0.02		-0.13	0.13	0.38
Short Term Investments	-0.76	-0.25	-0.11	-0.5	-0.73	-0.67	0.19	-0.23	-0.49	-0.35	-0.69	0.16	-0.35	-0.56	-0.96	-0.45	-0.8	-0.36	0.61	-0.56	-0.45	-0.62	-0.13		-0.81	0.22
Current Deferred Revenue	0.83	0.07	0.34	0.67	0.79	0.74	-0.55	0.47	0.58	0.68	0.69	0.02	0.68	0.65	0.8	0.33	0.75	0.56	-0.73	0.62	0.53	0.74	0.13	-0.81		-0.21
Good Will	-0.09	-0.19	-0.45	-0.42	0.03	0.12	0.31	0.3	-0.44	-0.48	0.31	0.48	-0.48	-0.37	-0.3	-0.2	-0.47	-0.62	0.76	-0.38	-0.47	-0.5	0.38	0.22	-0.21

Click cells to compare fundamentals

Major Drilling Account Relationship Matchups

Major Drilling fundamental ratios Accounts

	2020	2021	2022	2023	2024	2025 (projected)
Total Assets	388.5M	557.1M	611.7M	612.2M	704.0M	428.0M
Short Long Term Debt Total	19.2M	55.4M	25.6M	4.7M	4.2M	4.0M
Other Current Liab	2.8M	3.6M	3.5M	8.9M	8.0M	4.5M
Total Current Liabilities	75.9M	117.7M	114.6M	100.9M	116.0M	74.5M
Total Stockholder Equity	280.2M	359.8M	452.6M	493.8M	567.9M	315.0M
Property Plant And Equipment Net	148.2M	203.7M	220.7M	241.9M	278.2M	193.1M
Net Debt	(3.2M)	(15.9M)	(68.9M)	(91.5M)	(82.4M)	(78.2M)
Retained Earnings	(22.5M)	31.0M	105.9M	151.7M	174.5M	97.4M
Accounts Payable	73.1M	102.6M	102.1M	86.2M	99.2M	57.3M
Cash	22.4M	71.3M	94.4M	96.2M	110.7M	116.2M
Non Current Assets Total	165.3M	235.4M	251.2M	269.6M	310.0M	227.7M
Non Currrent Assets Other	(156.4M)	(231.1M)	(246.7M)	2.2M	2.0M	2.1M
Cash And Short Term Investments	22.4M	71.3M	94.4M	96.2M	110.7M	116.2M
Net Receivables	108.5M	144.7M	140.0M	126.1M	145.0M	82.6M
Common Stock Shares Outstanding	80.8M	82.7M	83.2M	82.5M	94.9M	72.1M
Liabilities And Stockholders Equity	388.5M	557.1M	611.7M	612.2M	704.0M	428.0M
Non Current Liabilities Total	32.5M	79.6M	44.5M	17.5M	20.1M	38.5M
Inventory	85.6M	96.8M	115.1M	110.8M	127.4M	73.9M
Other Current Assets	6.7M	9.0M	11.0M	9.5M	8.6M	5.9M
Other Stockholder Equity	5.6M	4.0M	3.7M	1.0	0.9	0.86
Total Liab	108.4M	197.3M	159.1M	118.4M	136.1M	113.0M
Property Plant And Equipment Gross	503.1M	587.3M	640.5M	241.9M	278.2M	238.6M
Total Current Assets	223.2M	321.7M	360.5M	342.6M	394.0M	200.4M
Accumulated Other Comprehensive Income	53.7M	61.6M	76.9M	79.4M	91.3M	95.9M
Short Term Debt	1.2M	1.5M	1.6M	1.4M	1.3M	1.2M
Current Deferred Revenue	(1.2M)	5.0M	3.7M	4.4M	5.0M	5.3M
Intangible Assets	568K	4.6M	3.3M	2.2M	2.0M	2.2M
Common Stock	243.4M	263.2M	266.1M	262.7M	302.1M	269.7M
Other Liab	16.9M	14.4M	25.7M	20.6M	18.5M	16.7M
Net Tangible Assets	288.4M	271.9M	332.4M	426.6M	383.9M	279.7M
Other Assets	9.6M	8.9M	4.4M	4.4M	4.0M	3.8M
Long Term Debt	50.3M	15.1M	50M	20.0M	23.0M	22.4M
Property Plant Equipment	168.9M	148.2M	203.7M	220.7M	198.6M	171.0M
Long Term Debt Total	53.0M	18.0M	53.9M	23.9M	27.5M	26.7M
Net Invested Capital	295.6M	409.8M	472.5M	493.8M	567.9M	441.4M

Pair Trading with Major Drilling

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 Major Drilling 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 Major Drilling will appreciate offsetting losses from the drop in the long position's value.

Moving together with Major Stock

0.63

ORE

Orezone Gold Corp

Pair Corr

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

The correlation of Major Drilling 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 Major Drilling moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Major Drilling Group 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 Major Drilling 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 Major Stock

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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC

Major Total Assets vs Inventory Analysis

Total Assets vs Inventory

Total Assets vs Inventory Correlation Analysis

Correlation Coefficient

Total Assets

Inventory

Major Drilling fundamental ratios Correlations

Major Drilling Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Major Drilling fundamental ratios Accounts

Pair Trading with Major Drilling

Moving together with Major Stock

Other Information on Investing in Major Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Cash And Short Term Investments	+ 1.0	Cash
Accounts Payable	+ 0.99	Total Current Liabilities
Net Receivables	+ 0.99	Accounts Payable
Net Receivables	+ 0.98	Total Current Liabilities
Total Stockholder Equity	+ 0.97	Total Assets
Non Current Assets Total	+ 0.97	Property Plant And Equipment Net

Short Term Investments	- 0.96	Common Stock Shares Outstanding
Cash And Short Term Investments	- 0.86	Net Debt
Cash	- 0.86	Net Debt
Current Deferred Revenue	- 0.81	Short Term Investments
Other Stockholder Equity	- 0.8	Other Current Assets
Short Term Investments	- 0.8	Inventory