Patterson Change To Liabilities vs Change In Working Capital Analysis

PTEN Stock  USD 7.84  0.15  1.95%   
Patterson UTI financial indicator trend analysis is much more than just breaking down Patterson UTI Energy prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Patterson UTI Energy is a good investment. Please check the relationship between Patterson UTI Change To Liabilities and its Change In Working Capital accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Patterson UTI 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 income.

Change To Liabilities vs Change In Working Capital

Change To Liabilities vs Change In Working Capital Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Patterson UTI Energy Change To Liabilities account and Change In Working Capital. At this time, the significance of the direction appears to have pay attention.
The correlation between Patterson UTI's Change To Liabilities and Change In Working Capital is -0.73. Overlapping area represents the amount of variation of Change To Liabilities that can explain the historical movement of Change In Working Capital in the same time period over historical financial statements of Patterson UTI Energy, assuming nothing else is changed. The correlation between historical values of Patterson UTI's Change To Liabilities and Change In Working Capital is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Change To Liabilities of Patterson UTI Energy are associated (or correlated) with its Change In Working Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Change In Working Capital has no effect on the direction of Change To Liabilities i.e., Patterson UTI's Change To Liabilities and Change In Working Capital go up and down completely randomly.

Correlation Coefficient

-0.73
Relationship DirectionNegative 
Relationship StrengthWeak

Change To Liabilities

Change In Working Capital

The difference in the amount of working capital from one period to the next, indicating the change in a company's short-term assets and liabilities.
Most indicators from Patterson UTI's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Patterson UTI 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 Your Equity Center to better understand how to build diversified portfolios, which includes a position in Patterson UTI 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 income.
At this time, Patterson UTI's Selling General Administrative is very stable compared to the past year. As of the 11th of December 2024, Tax Provision is likely to grow to about 40 M, while Discontinued Operations is likely to drop about 2 M.
 2021 2022 2023 2024 (projected)
Total Operating Expenses93.1M104.0M170.8M133.2M
Cost Of Revenue1.9B2.3B3.5B3.7B

Patterson UTI fundamental ratios Correlations

0.850.860.860.990.60.860.180.860.420.990.210.420.860.60.820.770.510.640.950.60.890.20.690.480.76
0.850.930.850.830.440.98-0.170.770.630.820.370.630.760.760.640.770.720.770.820.740.83-0.020.650.730.88
0.860.930.870.860.450.92-0.150.810.550.830.220.550.80.820.60.790.770.780.80.810.860.10.630.780.89
0.860.850.870.860.20.87-0.280.970.380.810.160.380.960.610.530.950.510.870.80.850.960.050.870.540.93
0.990.830.860.860.540.840.120.860.420.980.230.420.840.60.730.80.490.690.880.570.870.270.720.480.78
0.60.440.450.20.540.460.730.260.180.660.170.180.280.540.820.00.54-0.110.660.040.290.3-0.120.430.1
0.860.980.920.870.840.46-0.140.820.450.840.330.450.790.740.660.770.660.750.840.760.820.090.650.70.86
0.18-0.17-0.15-0.280.120.73-0.14-0.15-0.20.26-0.09-0.2-0.11-0.150.59-0.45-0.09-0.630.29-0.49-0.140.21-0.45-0.27-0.47
0.860.770.810.970.860.260.82-0.150.260.810.130.260.980.530.550.890.440.780.810.750.950.10.80.440.82
0.420.630.550.380.420.180.45-0.20.260.380.361.00.310.520.310.40.580.470.380.370.5-0.370.350.50.54
0.990.820.830.810.980.660.840.260.810.380.230.380.80.580.840.710.490.580.940.530.830.270.640.450.71
0.210.370.220.160.230.170.33-0.090.130.360.230.360.10.180.130.190.150.250.160.190.110.260.130.240.22
0.420.630.550.380.420.180.45-0.20.261.00.380.360.310.520.310.40.580.470.380.370.5-0.370.350.50.54
0.860.760.80.960.840.280.79-0.110.980.310.80.10.310.530.60.860.460.730.830.760.97-0.010.770.430.8
0.60.760.820.610.60.540.74-0.150.530.520.580.180.520.530.430.520.950.570.560.630.610.110.330.970.69
0.820.640.60.530.730.820.660.590.550.310.840.130.310.60.430.320.420.140.930.330.620.030.270.30.38
0.770.770.790.950.80.00.77-0.450.890.40.710.190.40.860.520.320.390.960.640.80.880.080.950.470.94
0.510.720.770.510.490.540.66-0.090.440.580.490.150.580.460.950.420.390.450.510.540.55-0.070.190.930.58
0.640.770.780.870.69-0.110.75-0.630.780.470.580.250.470.730.570.140.960.450.480.80.780.060.890.570.95
0.950.820.80.80.880.660.840.290.810.380.940.160.380.830.560.930.640.510.480.60.850.040.570.450.67
0.60.740.810.850.570.040.76-0.490.750.370.530.190.370.760.630.330.80.540.80.60.77-0.030.690.650.88
0.890.830.860.960.870.290.82-0.140.950.50.830.110.50.970.610.620.880.550.780.850.77-0.090.80.510.86
0.2-0.020.10.050.270.30.090.210.1-0.370.270.26-0.37-0.010.110.030.08-0.070.060.04-0.03-0.090.00.10.04
0.690.650.630.870.72-0.120.65-0.450.80.350.640.130.350.770.330.270.950.190.890.570.690.80.00.260.86
0.480.730.780.540.480.430.7-0.270.440.50.450.240.50.430.970.30.470.930.570.450.650.510.10.260.68
0.760.880.890.930.780.10.86-0.470.820.540.710.220.540.80.690.380.940.580.950.670.880.860.040.860.68
Click cells to compare fundamentals

Patterson UTI Account Relationship Matchups

Patterson UTI fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets4.4B3.3B3.0B3.1B7.4B7.8B
Short Long Term Debt Total1.0B927.7M877.3M855.7M1.3B1.4B
Other Current Liab220.2M157.8M221.9M198.6M286.4M300.7M
Total Current Liabilities400.6M273.7M435.9M551.0M1.1B1.1B
Total Stockholder Equity2.8B2.0B1.6B1.7B4.8B5.1B
Property Plant And Equipment Net3.3B2.8B2.4B2.3B3.5B2.0B
Net Debt828.9M702.8M759.8M718.1M1.2B1.2B
Retained Earnings1.3B472.0M(198.3M)(87.4M)57.0M54.2M
Accounts Payable170.5M91.0M190.2M237.1M534.4M561.1M
Cash174.2M224.9M117.5M137.6M192.7M202.3M
Non Current Assets Total3.8B2.8B2.4B2.3B5.9B6.2B
Non Currrent Assets Other17.8M11.4M11.1M10.9M19.4M20.4M
Cash And Short Term Investments174.2M224.9M117.5M137.6M192.7M202.3M
Net Receivables346.1M164.6M356.2M565.9M1.0B1.1B
Common Stock Shares Outstanding203.0M188.0M195.0M219.5M280.1M153.1M
Liabilities And Stockholders Equity4.4B3.3B3.0B3.1B7.4B7.8B
Non Current Liabilities Total1.2B1.0B912.5M927.3M1.5B1.6B
Inventory36.4M33.1M42.4M58.0M180.8M189.8M
Other Current Assets75.2M55.3M67.6M67.9M83.2M41.9M
Other Stockholder Equity1.5B1.5B1.8B1.7B4.7B5.0B
Total Liab1.6B1.3B1.3B1.5B2.6B2.7B
Property Plant And Equipment Gross3.3B2.8B8.2B8.0B9.3B9.8B
Total Current Assets631.8M478.0M583.7M829.4M1.5B1.6B
Accumulated Other Comprehensive Income5.5M5.4M5.9M(467.9M)472K495.6K
Intangible Assets71.4M30.1M7.5M5.8M1.1B1.1B
Common Stock Total Equity2.7M2.7M3.0M3.0M3.5M2.0M
Common Stock2.7M2.7M3.0M3.0M5.2M5.4M
Other Liab212.2M88.7M42.1M76.8M88.3M130.0M
Other Assets25.8M30.0M15.9M27.1M(1.5B)(1.4B)
Long Term Debt966.5M901.5M852.3M830.9M1.2B707.4M
Good Will410.8M372.6M30.1M0.01.4B1.4B
Treasury Stock(1.3B)(1.4B)(1.4B)(1.5B)(1.3B)(1.2B)
Property Plant Equipment3.3B2.8B2.3B2.3B2.6B2.6B
Net Tangible Assets2.4B2.0B1.7B1.7B1.5B1.9B
Capital Surpluse2.9B2.9B3.2B3.2B3.7B2.0B

Pair Trading with Patterson UTI

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 Patterson UTI 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 Patterson UTI will appreciate offsetting losses from the drop in the long position's value.

Moving together with Patterson Stock

  0.67PDS Precision DrillingPairCorr

Moving against Patterson Stock

  0.32ICDI Independence ContractPairCorr
The ability to find closely correlated positions to Patterson UTI could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Patterson UTI 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 Patterson UTI - 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 Patterson UTI Energy to buy it.
The correlation of Patterson UTI 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 Patterson UTI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patterson UTI 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 Patterson UTI 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
When determining whether Patterson UTI Energy offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Patterson UTI's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Patterson Uti Energy Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Patterson Uti Energy Stock:
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Patterson UTI 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 income.
You can also try the Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Is Energy Equipment & Services space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Patterson UTI. If investors know Patterson will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Patterson UTI listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.93)
Dividend Share
0.32
Earnings Share
(2.20)
Revenue Per Share
14.352
Quarterly Revenue Growth
0.342
The market value of Patterson UTI Energy is measured differently than its book value, which is the value of Patterson that is recorded on the company's balance sheet. Investors also form their own opinion of Patterson UTI's value that differs from its market value or its book value, called intrinsic value, which is Patterson UTI's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Patterson UTI's market value can be influenced by many factors that don't directly affect Patterson UTI's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Patterson UTI's value and its price as these two are different measures arrived at by different means. Investors typically determine if Patterson UTI is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Patterson UTI's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.