Shoals Net Tangible Assets vs Cash And Short Term Investments Analysis

SHLS Stock  USD 4.41  0.16  3.50%   
Shoals Technologies financial indicator trend analysis is much more than just breaking down Shoals Technologies prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Shoals Technologies is a good investment. Please check the relationship between Shoals Technologies Net Tangible Assets and its Cash And Short Term Investments accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shoals Technologies 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 bureau of economic analysis.

Net Tangible Assets vs Cash And Short Term Investments

Net Tangible Assets vs Cash And Short Term Investments Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Shoals Technologies Net Tangible Assets account and Cash And Short Term Investments. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between Shoals Technologies' Net Tangible Assets and Cash And Short Term Investments is 0.44. Overlapping area represents the amount of variation of Net Tangible Assets that can explain the historical movement of Cash And Short Term Investments in the same time period over historical financial statements of Shoals Technologies Group, assuming nothing else is changed. The correlation between historical values of Shoals Technologies' Net Tangible Assets and Cash And Short Term Investments is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Tangible Assets of Shoals Technologies Group are associated (or correlated) with its Cash And Short Term Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cash And Short Term Investments has no effect on the direction of Net Tangible Assets i.e., Shoals Technologies' Net Tangible Assets and Cash And Short Term Investments go up and down completely randomly.

Correlation Coefficient

0.44
Relationship DirectionPositive 
Relationship StrengthWeak

Net Tangible Assets

The total assets of a company minus any intangible assets such as patents, copyrights, and goodwill; it represents the physical assets of a company.

Cash And Short Term Investments

Short Term Investments is an account in the current assets section of Shoals Technologies balance sheet. This account contains Shoals Technologies investments that will expire within one year. These investments include stocks and bonds that can be liquidated by Shoals Technologies Group fairly quickly. The sum of a company's cash on hand, including bank deposits and short-term, highly liquid investments that are easily convertible to known amounts of cash.
Most indicators from Shoals Technologies' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Shoals 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 World Market Map to better understand how to build diversified portfolios, which includes a position in Shoals Technologies 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 bureau of economic analysis.
At this time, Shoals Technologies' Selling General Administrative is comparatively stable compared to the past year. Enterprise Value is likely to gain to about 4.7 B in 2024, whereas Tax Provision is likely to drop slightly above 4.2 M in 2024.
 2021 2022 2023 2024 (projected)
Interest Expense14.5M18.5M24.1M25.3M
Depreciation And Amortization10.1M10.5M10.5M10.8M

Shoals Technologies fundamental ratios Correlations

0.550.820.860.680.560.970.510.590.781.00.480.780.830.98-0.30.560.910.880.680.660.860.99-0.350.891.0
0.550.480.56-0.03-0.230.571.00.820.630.530.890.630.460.59-0.510.960.650.54-0.060.960.740.61-0.330.570.57
0.820.480.980.830.610.870.450.550.950.810.460.951.00.81-0.430.470.660.630.80.560.930.83-0.250.970.81
0.860.560.980.80.60.890.530.610.970.850.530.970.990.86-0.450.540.760.70.770.630.960.88-0.180.990.86
0.68-0.030.830.80.940.66-0.070.080.670.680.030.670.850.63-0.13-0.040.520.50.990.070.650.63-0.120.80.66
0.56-0.230.610.60.940.48-0.26-0.150.440.57-0.130.440.650.50.05-0.230.490.440.94-0.130.450.49-0.050.630.56
0.970.570.870.890.660.480.530.640.850.960.520.850.870.94-0.30.570.80.780.650.670.880.98-0.310.890.96
0.511.00.450.53-0.07-0.260.530.810.60.50.890.60.430.57-0.520.960.630.52-0.090.950.710.58-0.340.540.54
0.590.820.550.610.08-0.150.640.810.670.590.530.670.540.7-0.780.910.560.670.120.920.660.67-0.090.60.57
0.780.630.950.970.670.440.850.60.670.770.621.00.940.77-0.430.580.650.570.630.660.950.81-0.060.940.78
1.00.530.810.850.680.570.960.50.590.770.460.770.820.98-0.310.560.910.890.690.660.850.99-0.370.880.99
0.480.890.460.530.03-0.130.520.890.530.620.460.620.440.44-0.120.730.570.3-0.060.750.720.52-0.290.520.53
0.780.630.950.970.670.440.850.60.671.00.770.620.940.77-0.430.580.650.570.630.660.950.81-0.060.940.78
0.830.461.00.990.850.650.870.430.540.940.820.440.940.82-0.430.450.680.650.820.540.930.84-0.230.980.82
0.980.590.810.860.630.50.940.570.70.770.980.440.770.82-0.480.660.910.950.650.740.850.99-0.370.890.97
-0.3-0.51-0.43-0.45-0.130.05-0.3-0.52-0.78-0.43-0.31-0.12-0.43-0.43-0.48-0.69-0.33-0.57-0.21-0.66-0.44-0.370.19-0.46-0.26
0.560.960.470.54-0.04-0.230.570.960.910.580.560.730.580.450.66-0.690.650.66-0.030.990.690.64-0.370.560.57
0.910.650.660.760.520.490.80.630.560.650.910.570.650.680.91-0.330.650.910.530.720.820.89-0.380.810.92
0.880.540.630.70.50.440.780.520.670.570.890.30.570.650.95-0.570.660.910.560.720.70.88-0.390.760.87
0.68-0.060.80.770.990.940.65-0.090.120.630.69-0.060.630.820.65-0.21-0.030.530.560.080.610.64-0.120.780.66
0.660.960.560.630.07-0.130.670.950.920.660.660.750.660.540.74-0.660.990.720.720.080.760.73-0.360.650.67
0.860.740.930.960.650.450.880.710.660.950.850.720.950.930.85-0.440.690.820.70.610.760.88-0.320.970.87
0.990.610.830.880.630.490.980.580.670.810.990.520.810.840.99-0.370.640.890.880.640.730.88-0.350.90.99
-0.35-0.33-0.25-0.18-0.12-0.05-0.31-0.34-0.09-0.06-0.37-0.29-0.06-0.23-0.370.19-0.37-0.38-0.39-0.12-0.36-0.32-0.35-0.27-0.38
0.890.570.970.990.80.630.890.540.60.940.880.520.940.980.89-0.460.560.810.760.780.650.970.9-0.270.89
1.00.570.810.860.660.560.960.540.570.780.990.530.780.820.97-0.260.570.920.870.660.670.870.99-0.380.89
Click cells to compare fundamentals

Shoals Technologies Account Relationship Matchups

Shoals Technologies fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets187.6M195.3M426.4M594.9M844.0M446.2M
Short Long Term Debt Total26.1M358.8M247.1M239.1M184.7M200.8M
Other Current Liab1.3M6.0M9.6M16.7M52.9M55.5M
Total Current Liabilities24.5M24.1M31.6M52.6M92.6M97.3M
Total Stockholder Equity149.9M(184.1M)2.6M291.4M545.0M572.2M
Net Tangible Assets19.8M(306.3M)(132.1M)164.8M189.6M199.1M
Property Plant And Equipment Net10.9M12.8M15.6M16.9M27.7M17.3M
Net Debt19.0M348.8M242.0M230.3M162.0M190.9M
Accounts Payable10.4M14.6M20.0M9.5M14.4M13.8M
Cash7.1M10.1M5.0M8.8M22.7M23.8M
Non Current Assets Total141.1M139.2M333.0M441.4M616.8M333.7M
Long Term Debt13.2M355.3M55.1M237.1M179.4M160.6M
Cash And Short Term Investments7.1M10.1M5.0M8.8M22.7M23.8M
Net Receivables29.8M30.8M45.0M67.3M147.3M154.6M
Liabilities And Stockholders Equity187.6M195.3M426.4M594.9M844.0M446.2M
Non Current Liabilities Total13.2M355.3M402.4M241.3M206.4M230.0M
Inventory8.8M15.1M38.4M72.9M52.8M36.3M
Other Current Assets798K155K5.0M4.6M4.4M2.9M
Other Stockholder Equity152.6M(184.1M)95.7M256.9M470.5M494.1M
Total Liab37.7M379.4M433.9M293.9M299.0M273.4M
Net Invested Capital26.1M358.8M249.6M530.4M726.4M762.8M
Property Plant And Equipment Gross10.9M12.8M21.2M24.2M34.4M20.9M
Total Current Assets46.5M56.1M93.4M153.5M227.2M238.5M
Net Working Capital22.0M32.0M61.9M100.9M134.6M69.1M
Intangible Assets80.0M72.0M65.2M56.6M48.7M54.7M
Property Plant Equipment10.9M12.8M15.6M20.9M24.1M15.5M

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked. Macroaxis thematic optimization helps investors identify companies most likely to benefit from changes or shifts in various micro-economic or local macro-level trends. Originating optimal thematic portfolios involves aligning investors' personal views, ideas, and beliefs with their actual investments.
Explore Investing Ideas  

Additional Tools for Shoals Stock Analysis

When running Shoals Technologies' price analysis, check to measure Shoals Technologies' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Shoals Technologies is operating at the current time. Most of Shoals Technologies' value examination focuses on studying past and present price action to predict the probability of Shoals Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Shoals Technologies' price. Additionally, you may evaluate how the addition of Shoals Technologies to your portfolios can decrease your overall portfolio volatility.