Tilray Cash vs Good Will Analysis

TLRY Stock  CAD 1.69  0.02  1.17%   
Tilray financial indicator trend analysis is much more than just breaking down Tilray Inc prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Tilray Inc is a good investment. Please check the relationship between Tilray Cash and its Good Will accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tilray Inc. 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.

Cash vs Good Will

Cash vs Good Will Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Tilray Inc Cash account and Good Will. At this time, the significance of the direction appears to have strong relationship.
The correlation between Tilray's Cash and Good Will is 0.76. Overlapping area represents the amount of variation of Cash that can explain the historical movement of Good Will in the same time period over historical financial statements of Tilray Inc, assuming nothing else is changed. The correlation between historical values of Tilray's Cash and Good Will is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cash of Tilray Inc are associated (or correlated) with its Good Will. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Good Will has no effect on the direction of Cash i.e., Tilray's Cash and Good Will go up and down completely randomly.

Correlation Coefficient

0.76
Relationship DirectionPositive 
Relationship StrengthSignificant

Cash

Cash refers to the most liquid asset of Tilray Inc, which is listed under current asset account on Tilray Inc balance sheet and usually includes currency, coins, checking accounts, and not deposited checks received from Tilray customers. The amounts must be unrestricted with restricted cash listed in a different Tilray account. The total amount of money in the form of currency that a company has in its possession. This includes all bills, coins, and funds in bank accounts.

Good Will

An intangible asset that arises when a company acquires another business for more than the fair market value of its net identifiable assets, representing the value of the brand, customer base, and other intangible factors.
Most indicators from Tilray's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Tilray Inc 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 Tilray Inc. 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.
As of the 16th of December 2024, Selling General Administrative is likely to grow to about 180.1 M, though Tax Provision is likely to grow to (25.3 M).
 2021 2022 2023 2024 (projected)
Research Development1.5M682K635K826.6K
Total Revenue628.4M627.1M788.9M828.4M

Tilray fundamental ratios Correlations

0.920.961.00.82-0.720.80.840.950.830.170.950.850.920.940.90.920.930.960.760.65-0.110.760.630.960.98
0.920.910.910.88-0.660.650.670.820.710.130.850.730.880.890.750.840.790.890.60.54-0.330.580.530.920.91
0.960.910.950.88-0.80.720.830.930.860.390.930.810.930.920.880.90.870.920.770.79-0.160.750.530.920.94
1.00.910.950.81-0.730.780.820.950.850.180.950.860.930.920.890.910.920.960.780.66-0.130.760.660.950.98
0.820.880.880.81-0.570.550.660.680.560.40.70.520.790.880.720.80.70.880.510.77-0.410.360.230.90.89
-0.72-0.66-0.8-0.73-0.57-0.29-0.45-0.79-0.95-0.49-0.76-0.72-0.91-0.53-0.56-0.5-0.56-0.62-0.95-0.690.32-0.68-0.76-0.58-0.66
0.80.650.720.780.55-0.290.950.810.52-0.080.790.680.540.870.930.930.910.80.390.370.360.760.330.790.76
0.840.670.830.820.66-0.450.950.850.630.230.810.70.630.910.970.950.920.840.510.610.310.780.290.830.81
0.950.820.930.950.68-0.790.810.850.910.190.960.870.90.860.90.880.90.870.830.620.00.890.710.850.88
0.830.710.860.850.56-0.950.520.630.910.370.880.860.930.640.710.650.730.720.960.65-0.120.830.820.680.75
0.170.130.390.180.4-0.49-0.080.230.190.370.130.080.330.170.190.140.080.170.370.77-0.180.1-0.090.150.19
0.950.850.930.950.7-0.760.790.810.960.880.130.920.90.870.890.890.910.880.790.59-0.020.880.690.870.89
0.850.730.810.860.52-0.720.680.70.870.860.080.920.790.720.790.740.860.760.730.440.170.90.710.730.77
0.920.880.930.930.79-0.910.540.630.90.930.330.90.790.780.730.740.750.860.910.72-0.370.680.760.850.9
0.940.890.920.920.88-0.530.870.910.860.640.170.870.720.780.940.980.940.970.540.63-0.030.670.360.980.95
0.90.750.880.890.72-0.560.930.970.90.710.190.890.790.730.940.960.970.910.60.630.210.830.410.890.89
0.920.840.90.910.8-0.50.930.950.880.650.140.890.740.740.980.960.930.920.530.60.090.750.360.920.9
0.930.790.870.920.7-0.560.910.920.90.730.080.910.860.750.940.970.930.940.610.530.20.820.510.910.91
0.960.890.920.960.88-0.620.80.840.870.720.170.880.760.860.970.910.920.940.660.66-0.130.650.510.990.99
0.760.60.770.780.51-0.950.390.510.830.960.370.790.730.910.540.60.530.610.660.68-0.270.710.850.620.7
0.650.540.790.660.77-0.690.370.610.620.650.770.590.440.720.630.630.60.530.660.68-0.250.420.210.650.68
-0.11-0.33-0.16-0.13-0.410.320.360.310.0-0.12-0.18-0.020.17-0.37-0.030.210.090.2-0.13-0.27-0.250.36-0.22-0.18-0.21
0.760.580.750.760.36-0.680.760.780.890.830.10.880.90.680.670.830.750.820.650.710.420.360.650.610.64
0.630.530.530.660.23-0.760.330.290.710.82-0.090.690.710.760.360.410.360.510.510.850.21-0.220.650.470.55
0.960.920.920.950.9-0.580.790.830.850.680.150.870.730.850.980.890.920.910.990.620.65-0.180.610.470.99
0.980.910.940.980.89-0.660.760.810.880.750.190.890.770.90.950.890.90.910.990.70.68-0.210.640.550.99
Click cells to compare fundamentals

Tilray Account Relationship Matchups

Tilray fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets1.8B6.0B5.4B4.3B4.3B4.6B
Other Current Liab9.2M279.2M112.9M123.0M150.7M158.3M
Total Current Liabilities122.8M401.2M280.3M433.0M299.2M314.1M
Total Stockholder Equity1.3B4.5B4.4B3.3B3.4B3.6B
Net Debt(58.1M)450.2M207.9M383.5M159.0M85.9M
Retained Earnings(44.1M)(486.1M)(962.9M)(2.4B)(2.7B)(2.5B)
Cash358.5M488.5M415.9M206.6M228.3M189.1M
Cash And Short Term Investments358.5M488.5M415.9M448.5M260.5M222.0M
Net Receivables50.8M89.8M95.3M86.2M101.7M106.8M
Common Stock Shares Outstanding216.2M269.5M481.2M618.0M742.6M779.8M
Short Term Investments34.9M14.9M0.0241.9M32.2M42.8M
Liabilities And Stockholders Equity1.8B6.0B5.4B4.3B4.3B4.6B
Inventory190.6M256.4M245.5M200.6M252.1M264.7M
Other Current Assets51.4M48.9M46.8M37.7M63.4M66.6M
Other Stockholder Equity20.2M4.8B5.4B5.8B6.1B6.5B
Total Liab475.9M1.6B1.0B977.3M778.5M462.5M
Total Current Assets651.2M883.6M803.5M773.0M677.7M396.4M
Short Long Term Debt Total451.8M938.7M623.8M590.1M387.3M424.7M
Property Plant And Equipment Net423.3M669.0M600.5M435.6M574.3M309.4M
Non Current Assets Total1.2B5.1B4.6B3.5B3.7B1.9B
Other Assets15.3M7.9M8.3M111.5M128.2M134.7M
Short Term Debt7.4M49.6M92.6M224.3M39.0M51.5M
Common Stock1.3B46K53K66K83K78.9K
Accounts Payable110.1M57.7M68.6M70.8M105.4M110.7M
Non Currrent Assets Other0.08.3M111.5M222K151.0M158.6M
Accumulated Other Comprehensive Income(914.9K)152.7M(20.8M)(46.6M)(43.5M)(41.3M)
Intangible Assets261.7M1.6B1.3B973.8M915.5M550.5M
Good Will445.5M2.8B2.6B2.0B2.0B1.3B
Net Tangible Assets475.6M537.3M20.4M479.6M431.7M293.1M
Current Deferred Revenue17.5M650.3K155.1M119.9M136.6M143.4M
Non Current Liabilities Total353.1M1.2B728.0M544.3M592.9M535.8M
Property Plant Equipment372.8M426.1M669.0M600.5M690.6M448.1M
Other Liab64.8M48.4M269.8M196.8M226.4M142.6M
Long Term Debt430.2M306.3M519.8M357.9M287.9M369.4M
Net Invested Capital2.2B5.3B5.0B3.9B3.8B3.7B
Long Term Investments27.0M25.8M15.0M12.4M7.9M7.5M
Short Long Term Debt9.0M45.3M85.9M221.8M33.9M63.7M
Net Working Capital732.9M482.4M523.2M340.1M378.5M371.4M

Pair Trading with Tilray

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

Moving together with Tilray Stock

  0.71AEMC Alaska Energy MetalsPairCorr
  0.86CMC Cielo Waste SolutionsPairCorr

Moving against Tilray Stock

  0.86MATE Blockmate VenturesPairCorr
  0.77LQWD LQwD FinTech CorpPairCorr
The ability to find closely correlated positions to Tilray could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tilray 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 Tilray - 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 Tilray Inc to buy it.
The correlation of Tilray 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 Tilray moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tilray Inc 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 Tilray 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 Tilray Inc offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Tilray'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 Tilray Inc Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Tilray Inc Stock:
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tilray Inc. 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.
You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Please note, there is a significant difference between Tilray's value and its price as these two are different measures arrived at by different means. Investors typically determine if Tilray is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Tilray'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.