PrairieSky Capex To Depreciation vs Pb Ratio Analysis

PSK Stock  CAD 28.70  0.56  1.91%   
PrairieSky Royalty financial indicator trend analysis is much more than just breaking down PrairieSky Royalty prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether PrairieSky Royalty is a good investment. Please check the relationship between PrairieSky Royalty Capex To Depreciation and its Pb Ratio accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PrairieSky Royalty. 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 Pb Ratio

Capex To Depreciation vs Pb Ratio Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of PrairieSky Royalty Capex To Depreciation account and Pb Ratio. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between PrairieSky Royalty's Capex To Depreciation and Pb Ratio is -0.32. Overlapping area represents the amount of variation of Capex To Depreciation that can explain the historical movement of Pb Ratio in the same time period over historical financial statements of PrairieSky Royalty, assuming nothing else is changed. The correlation between historical values of PrairieSky Royalty's Capex To Depreciation and Pb 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 PrairieSky Royalty are associated (or correlated) with its Pb Ratio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Pb Ratio has no effect on the direction of Capex To Depreciation i.e., PrairieSky Royalty's Capex To Depreciation and Pb Ratio go up and down completely randomly.

Correlation Coefficient

-0.32
Relationship DirectionNegative 
Relationship StrengthInsignificant

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.

Pb Ratio

Most indicators from PrairieSky Royalty's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into PrairieSky Royalty 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 Your Equity Center to better understand how to build diversified portfolios, which includes a position in PrairieSky Royalty. 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, PrairieSky Royalty's Tax Provision is very stable compared to the past year. As of the 11th of December 2024, Enterprise Value Over EBITDA is likely to grow to 18.25, while Selling General Administrative is likely to drop about 28.5 M.
 2021 2022 2023 2024 (projected)
Gross Profit202.6M490.9M365.5M228.9M
Total Revenue308M643.3M513.2M345.1M

PrairieSky Royalty fundamental ratios Correlations

0.540.580.990.990.221.00.710.360.980.760.320.990.980.990.40.160.90.16-0.070.93-0.910.960.830.670.59
0.540.740.50.570.330.550.310.640.50.60.090.520.640.560.46-0.150.43-0.150.120.4-0.440.540.560.540.09
0.580.740.530.590.410.580.360.730.540.610.170.540.630.550.33-0.080.52-0.080.140.38-0.440.480.520.460.16
0.990.50.530.980.20.990.720.30.990.660.350.990.970.990.270.210.910.21-0.110.92-0.90.970.830.560.62
0.990.570.590.980.221.00.730.350.960.80.250.980.980.980.460.090.860.09-0.020.94-0.920.960.850.720.6
0.220.330.410.20.220.240.010.570.280.230.230.230.280.240.10.170.430.170.050.18-0.080.140.140.19-0.14
1.00.550.580.991.00.240.730.340.980.770.270.990.980.980.420.110.880.11-0.030.94-0.920.970.850.680.61
0.710.310.360.720.730.010.73-0.060.720.47-0.180.760.720.720.29-0.250.61-0.250.320.8-0.820.770.830.40.96
0.360.640.730.30.350.570.34-0.060.30.530.550.270.380.330.270.30.390.3-0.170.11-0.030.170.080.43-0.29
0.980.50.540.990.960.280.980.720.30.650.320.990.970.980.270.180.940.18-0.050.92-0.910.960.840.550.62
0.760.60.610.660.80.230.770.470.530.650.090.680.750.670.86-0.140.57-0.140.140.73-0.660.640.610.980.32
0.320.090.170.350.250.230.27-0.180.550.320.090.260.240.33-0.310.950.440.95-0.80.050.030.19-0.20.01-0.26
0.990.520.540.990.980.230.990.760.270.990.680.260.980.990.320.120.90.12-0.030.93-0.930.980.860.590.65
0.980.640.630.970.980.280.980.720.380.970.750.240.980.980.390.070.880.070.020.9-0.890.960.870.650.58
0.990.560.550.990.980.240.980.720.330.980.670.330.990.980.290.20.890.2-0.110.9-0.890.980.830.580.59
0.40.460.330.270.460.10.420.290.270.270.86-0.310.320.390.29-0.480.19-0.480.40.5-0.440.320.440.920.22
0.16-0.15-0.080.210.090.170.11-0.250.30.18-0.140.950.120.070.2-0.480.291.0-0.9-0.070.140.07-0.34-0.18-0.27
0.90.430.520.910.860.430.880.610.390.940.570.440.90.880.890.190.290.29-0.050.84-0.780.830.720.450.52
0.16-0.15-0.080.210.090.170.11-0.250.30.18-0.140.950.120.070.2-0.481.00.29-0.9-0.070.140.07-0.34-0.18-0.27
-0.070.120.14-0.11-0.020.05-0.030.32-0.17-0.050.14-0.8-0.030.02-0.110.4-0.9-0.05-0.90.19-0.16-0.030.420.140.32
0.930.40.380.920.940.180.940.80.110.920.730.050.930.90.90.5-0.070.84-0.070.19-0.950.920.90.680.74
-0.91-0.44-0.44-0.9-0.92-0.08-0.92-0.82-0.03-0.91-0.660.03-0.93-0.89-0.89-0.440.14-0.780.14-0.16-0.95-0.95-0.92-0.6-0.79
0.960.540.480.970.960.140.970.770.170.960.640.190.980.960.980.320.070.830.07-0.030.92-0.950.890.560.68
0.830.560.520.830.850.140.850.830.080.840.61-0.20.860.870.830.44-0.340.72-0.340.420.9-0.920.890.540.75
0.670.540.460.560.720.190.680.40.430.550.980.010.590.650.580.92-0.180.45-0.180.140.68-0.60.560.540.28
0.590.090.160.620.6-0.140.610.96-0.290.620.32-0.260.650.580.590.22-0.270.52-0.270.320.74-0.790.680.750.28
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PrairieSky Royalty Account Relationship Matchups

PrairieSky Royalty fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets2.7B2.6B3.5B3.4B3.3B2.6B
Other Current Liab23.2M20.6M35.8M82.2M89.2M93.7M
Total Current Liabilities41M69.7M44.5M177.6M96.4M61.1M
Total Stockholder Equity2.5B2.3B2.6B2.8B2.8B2.3B
Property Plant And Equipment Net2.1B1.9B2.8B2.7B2.6B2.0B
Accounts Payable1.1M1.3M1.6M2.1M2.6M2.2M
Non Current Assets Total2.7B2.6B3.5B3.3B3.2B2.6B
Non Currrent Assets Other2.9B2.8B2.7B1.6B1.8B1.2B
Net Receivables37.3M27.2M52.4M80.3M61.6M51.5M
Liabilities And Stockholders Equity2.7B2.6B3.5B3.4B3.3B2.6B
Total Liab233.8M266.2M915.8M647.1M541.3M348.8M
Total Current Assets37.9M27.7M52.9M80.8M62.3M57.5M
Common Stock3.3B3.2B3.4B3.4B3.9B2.9B
Other Liab190.6M194.9M227M251.1M288.8M199.0M
Net Tangible Assets1.9B1.7B2.0B2.1B2.5B1.8B
Net Debt12.9M47.3M646.6M220.1M188.1M197.5M
Cash(2.8M)(2.2M)(1.6M)(900K)(810K)(769.5K)
Cash And Short Term Investments(2.8M)(2.2M)(1.6M)(900K)(810K)(769.5K)
Other Stockholder Equity4.8M6.6M7.7M8.2M6.3M6M
Property Plant Equipment2.1B1.9B2.8B1.7B2.0B1.9B
Retained Earnings(814.5M)(869.1M)(816.4M)(642.2M)(643.8M)(676.0M)
Common Stock Total Equity3.3B3.3B3.3B3.2B3.7B3.2B
Common Stock Shares Outstanding234M230.1M223.8M239.1M239M239.7M
Non Current Liabilities Total192.8M196.5M871.3M469.5M444.9M339.0M
Property Plant And Equipment Gross2.1B1.9B3.7B3.8B3.8B2.7B
Capital Surpluse6.6M7.7M8.2M6.3M7.2M5.7M
Intangible Assets682.5M623.5M1.0B1.0B1.2B879.0M
Long Term Debt Total2.2M1.6M644.3M218.4M251.2M136.2M
Short Term Debt7.9M43.5M700K800K100K95K
Net Invested Capital2.5B2.4B3.2B3.0B3.0B3.0B
Net Working Capital(3.1M)(42M)8.4M(96.8M)(34.1M)(32.4M)
Short Long Term Debt Total10.1M45.1M645M219.2M188.1M204.1M
Capital Stock3.3B3.2B3.4B3.4B3.9B3.7B

Pair Trading with PrairieSky Royalty

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 PrairieSky Royalty 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 PrairieSky Royalty will appreciate offsetting losses from the drop in the long position's value.

Moving together with PrairieSky Stock

  0.86ENB-PFV Enbridge Pref 5PairCorr
  0.61ENB-PFC Enbridge Pref 11PairCorr
  0.81ENS E Split CorpPairCorr
  0.88ENS-PA E Split CorpPairCorr

Moving against PrairieSky Stock

  0.82ARA Aclara ResourcesPairCorr
  0.61RCI-A Rogers CommunicationsPairCorr
  0.58SAGE Sage Potash CorpPairCorr
  0.52CCL-A CCL IndustriesPairCorr
The ability to find closely correlated positions to PrairieSky Royalty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PrairieSky Royalty 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 PrairieSky Royalty - 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 PrairieSky Royalty to buy it.
The correlation of PrairieSky Royalty 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 PrairieSky Royalty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PrairieSky Royalty 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 PrairieSky Royalty 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 CorrelationCorrelation Matching

Other Information on Investing in PrairieSky Stock

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