Worksport Net Debt vs Net Invested Capital Analysis

WKSP Stock

USD 0.84 0.01 1.20%

Worksport financial indicator trend analysis is more than just analyzing Worksport current accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Worksport is a good investment. Please check the relationship between Worksport Net Debt and its Net Invested Capital accounts. Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worksport. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

To learn how to invest in Worksport Stock, please use our How to Invest in Worksport guide.

Net Debt vs Net Invested Capital

Net Debt vs Net Invested Capital Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Worksport Net Debt account and Net Invested Capital. At this time, the significance of the direction appears to have strong contrarian relationship.

The correlation between Worksport's Net Debt and Net Invested Capital is -0.66. Overlapping area represents the amount of variation of Net Debt that can explain the historical movement of Net Invested Capital in the same time period over historical financial statements of Worksport, assuming nothing else is changed. The correlation between historical values of Worksport's Net Debt and Net Invested 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 Net Debt of Worksport are associated (or correlated) with its Net Invested Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Invested Capital has no effect on the direction of Net Debt i.e., Worksport's Net Debt and Net Invested Capital go up and down completely randomly.

Correlation Coefficient

-0.66

Relationship Direction	Negative
Relationship Strength	Weak

View All Relationships

Net Debt

The total debt of a company minus its cash and cash equivalents. It represents the actual debt burden on the company after accounting for the liquid assets it holds.

Net Invested Capital

The total amount of capital invested in a company, including both equity and debt, minus any cash or cash equivalents.

Most indicators from Worksport's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Worksport 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 Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worksport. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

To learn how to invest in Worksport Stock, please use our How to Invest in Worksport guide.At this time, Worksport's Selling General Administrative is relatively stable compared to the past year. As of 12/22/2024, Issuance Of Capital Stock is likely to grow to about 5.5 M, while Enterprise Value Over EBITDA is likely to drop (2.32).

	2021	2022	2023	2024 (projected)
Depreciation And Amortization	211.7K	486.6K	1.1M	1.2M
Cost Of Revenue	350.7K	57.0K	1.3M	1.4M

Depreciation And Amortization Cost Of Revenue

Worksport fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Cash	Cash And Short Term Investments	Common Stock Shares Outstanding	Non Current Liabilities Total	Other Stockholder Equity	Total Liab	Total Current Assets	Short Term Debt	Common Stock	Common Stock Total Equity	Non Current Assets Total	Net Receivables	Inventory	Other Current Assets	Intangible Assets	Property Plant And Equipment Net	Property Plant And Equipment Gross
Total Assets		0.79	-0.07	0.68	0.99	-0.63	-0.56	-0.84	0.85	0.81	0.82	0.87	0.55	0.96	0.82	0.86	0.57	-0.18	0.51	0.79	0.77	0.69	0.88	0.89	0.78	0.77
Short Long Term Debt Total	0.79		-0.05	0.87	0.69	-0.55	0.05	-0.95	0.86	0.3	0.31	0.89	0.63	0.89	0.99	0.39	0.79	-0.11	0.5	0.99	0.89	0.9	0.4	0.98	0.99	0.99
Other Current Liab	-0.07	-0.05		0.05	-0.09	0.21	0.04	0.07	-0.03	-0.05	-0.05	0.18	-0.04	-0.11	0.03	-0.06	-0.05	0.57	0.57	-0.06	-0.03	-0.06	-0.05	-0.07	-0.06	-0.06
Total Current Liabilities	0.68	0.87	0.05		0.59	-0.55	0.13	-0.94	0.74	0.19	0.19	0.84	0.18	0.85	0.87	0.28	0.97	0.05	0.59	0.91	0.97	0.97	0.35	0.88	0.9	0.91
Total Stockholder Equity	0.99	0.69	-0.09	0.59		-0.6	-0.67	-0.76	0.78	0.89	0.89	0.8	0.49	0.91	0.71	0.92	0.48	-0.22	0.46	0.69	0.68	0.6	0.94	0.81	0.68	0.67
Current Deferred Revenue	-0.63	-0.55	0.21	-0.55	-0.6		0.31	0.68	-0.82	-0.49	-0.49	-0.56	-0.38	-0.69	-0.6	-0.53	-0.42	-0.11	-0.42	-0.51	-0.61	-0.46	-0.54	-0.58	-0.5	-0.5
Net Debt	-0.56	0.05	0.04	0.13	-0.67	0.31		0.06	-0.27	-0.94	-0.93	-0.21	-0.21	-0.33	-0.01	-0.89	0.24	0.13	-0.15	0.07	0.01	0.17	-0.87	-0.13	0.09	0.1
Retained Earnings	-0.84	-0.95	0.07	-0.94	-0.76	0.68	0.06		-0.87	-0.39	-0.4	-0.9	-0.43	-0.95	-0.95	-0.48	-0.88	0.06	-0.56	-0.96	-0.96	-0.94	-0.52	-0.97	-0.96	-0.96
Accounts Payable	0.85	0.86	-0.03	0.74	0.78	-0.82	-0.27	-0.87		0.55	0.56	0.85	0.64	0.88	0.9	0.62	0.58	0.11	0.63	0.82	0.81	0.69	0.61	0.87	0.81	0.8
Cash	0.81	0.3	-0.05	0.19	0.89	-0.49	-0.94	-0.39	0.55		1.0	0.51	0.4	0.64	0.36	0.99	0.06	-0.17	0.32	0.29	0.31	0.17	0.98	0.47	0.27	0.26
Cash And Short Term Investments	0.82	0.31	-0.05	0.19	0.89	-0.49	-0.93	-0.4	0.56	1.0		0.52	0.4	0.64	0.36	0.99	0.06	-0.17	0.32	0.29	0.32	0.17	0.98	0.47	0.27	0.26
Common Stock Shares Outstanding	0.87	0.89	0.18	0.84	0.8	-0.56	-0.21	-0.9	0.85	0.51	0.52		0.51	0.9	0.91	0.59	0.73	0.02	0.59	0.88	0.86	0.82	0.6	0.92	0.88	0.88
Non Current Liabilities Total	0.55	0.63	-0.04	0.18	0.49	-0.38	-0.21	-0.43	0.64	0.4	0.4	0.51		0.48	0.64	0.43	0.02	-0.16	0.21	0.54	0.28	0.24	0.34	0.56	0.53	0.51
Other Stockholder Equity	0.96	0.89	-0.11	0.85	0.91	-0.69	-0.33	-0.95	0.88	0.64	0.64	0.9	0.48		0.9	0.71	0.76	-0.15	0.54	0.9	0.9	0.85	0.74	0.96	0.89	0.89
Total Liab	0.82	0.99	0.03	0.87	0.71	-0.6	-0.01	-0.95	0.9	0.36	0.36	0.91	0.64	0.9		0.44	0.77	-0.02	0.58	0.98	0.9	0.88	0.45	0.97	0.97	0.97
Total Current Assets	0.86	0.39	-0.06	0.28	0.92	-0.53	-0.89	-0.48	0.62	0.99	0.99	0.59	0.43	0.71	0.44		0.15	-0.17	0.37	0.38	0.4	0.26	0.99	0.55	0.36	0.35
Short Term Debt	0.57	0.79	-0.05	0.97	0.48	-0.42	0.24	-0.88	0.58	0.06	0.06	0.73	0.02	0.76	0.77	0.15		-0.05	0.45	0.85	0.92	0.97	0.23	0.81	0.85	0.87
Common Stock	-0.18	-0.11	0.57	0.05	-0.22	-0.11	0.13	0.06	0.11	-0.17	-0.17	0.02	-0.16	-0.15	-0.02	-0.17	-0.05		0.68	-0.14	0.09	-0.12	-0.16	-0.16	-0.14	-0.14
Common Stock Total Equity	0.51	0.5	0.57	0.59	0.46	-0.42	-0.15	-0.56	0.63	0.32	0.32	0.59	0.21	0.54	0.58	0.37	0.45	0.68		0.48	0.63	0.46	0.4	0.52	0.48	0.48
Non Current Assets Total	0.79	0.99	-0.06	0.91	0.69	-0.51	0.07	-0.96	0.82	0.29	0.29	0.88	0.54	0.9	0.98	0.38	0.85	-0.14	0.48		0.91	0.95	0.4	0.98	1.0	1.0
Net Receivables	0.77	0.89	-0.03	0.97	0.68	-0.61	0.01	-0.96	0.81	0.31	0.32	0.86	0.28	0.9	0.9	0.4	0.92	0.09	0.63	0.91		0.94	0.46	0.91	0.91	0.92
Inventory	0.69	0.9	-0.06	0.97	0.6	-0.46	0.17	-0.94	0.69	0.17	0.17	0.82	0.24	0.85	0.88	0.26	0.97	-0.12	0.46	0.95	0.94		0.32	0.91	0.95	0.96
Other Current Assets	0.88	0.4	-0.05	0.35	0.94	-0.54	-0.87	-0.52	0.61	0.98	0.98	0.6	0.34	0.74	0.45	0.99	0.23	-0.16	0.4	0.4	0.46	0.32		0.57	0.39	0.38
Intangible Assets	0.89	0.98	-0.07	0.88	0.81	-0.58	-0.13	-0.97	0.87	0.47	0.47	0.92	0.56	0.96	0.97	0.55	0.81	-0.16	0.52	0.98	0.91	0.91	0.57		0.98	0.97
Property Plant And Equipment Net	0.78	0.99	-0.06	0.9	0.68	-0.5	0.09	-0.96	0.81	0.27	0.27	0.88	0.53	0.89	0.97	0.36	0.85	-0.14	0.48	1.0	0.91	0.95	0.39	0.98		1.0
Property Plant And Equipment Gross	0.77	0.99	-0.06	0.91	0.67	-0.5	0.1	-0.96	0.8	0.26	0.26	0.88	0.51	0.89	0.97	0.35	0.87	-0.14	0.48	1.0	0.92	0.96	0.38	0.97	1.0

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Worksport Account Relationship Matchups

Worksport fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	481.3K	1.9M	36.3M	32.8M	26.0M	27.3M
Short Long Term Debt Total	357.7K	712.8K	857.1K	6.6M	6.2M	6.6M
Other Current Liab	82.4K	36.8K	48.2K	112.2K	85.0K	136.5K
Total Current Liabilities	1.3M	1.7M	1.8M	2.5M	7.2M	7.5M
Total Stockholder Equity	(882.6K)	169.5K	34.2M	24.1M	18.2M	19.1M
Net Debt	345.7K	(395.0K)	(27.7M)	(7.6M)	3.6M	3.8M
Retained Earnings	(10.8M)	(12.9M)	(20.8M)	(33.4M)	(48.3M)	(45.9M)
Accounts Payable	969.3K	971.7K	1.1M	2.0M	1.5M	1.5M
Cash	12.0K	1.1M	28.6M	14.2M	3.4M	3.5M
Cash And Short Term Investments	12.0K	1.1M	28.6M	14.2M	3.4M	3.7M
Common Stock Shares Outstanding	1.8M	2.7M	11.5M	17.1M	17.7M	18.6M
Liabilities And Stockholders Equity	481.3K	1.9M	36.3M	32.8M	26.0M	27.3M
Non Current Liabilities Total	39.2K	14.6K	317.0K	6.2M	608.8K	586.8K
Other Stockholder Equity	9.9M	13.0M	55.0M	57.5M	64.7M	67.9M
Total Liab	1.4M	1.7M	2.1M	8.6M	7.8M	8.2M
Total Current Assets	253.7K	1.7M	34.0M	18.3M	9.1M	4.8M
Short Term Debt	318.5K	698.2K	540.1K	433.4K	5.6M	5.9M
Common Stock	4.2K	7.6K	1.7K	1.7K	2.0K	2.7K
Common Stock Total Equity	12.2K	2.5K	4.2K	7.6K	8.8K	9.2K
Non Current Assets Total	227.6K	217.4K	2.3M	14.4M	16.8M	17.7M
Net Receivables	67.8K	290.6K	247.4K	330.6K	629.0K	660.4K
Inventory	113.2K	40.8K	501.8K	1.3M	3.6M	3.8M
Other Current Assets	60.7K	245.5K	4.7M	2.0M	1.5M	954.8K
Intangible Assets	57.1K	62.9K	593.1K	1.3M	1.3M	1.4M
Property Plant And Equipment Net	154.8K	130.0K	1.6M	13.1M	15.4M	16.2M
Property Plant And Equipment Gross	154.8K	130.0K	1.7M	13.7M	17.1M	17.9M
Net Tangible Assets	(939.7K)	106.5K	33.6M	22.8M	26.3M	27.6M
Short Long Term Debt	296.5K	674.3K	327.1K	46.1K	5.3M	5.6M
Property Plant Equipment	154.8K	130.0K	1.6M	12.5M	14.4M	15.1M
Net Invested Capital	(586.0K)	843.8K	34.5M	29.5M	23.5M	13.9M
Net Working Capital	(1.1M)	(33.3K)	32.2M	15.9M	2.0M	1.9M
Capital Stock	4.2K	7.6K	1.7K	1.7K	2.0K	4.0K

Pair Trading with Worksport

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

Moving against Worksport Stock

0.72	HOG	Harley Davidson	Pair Corr
0.67	FFIE	Faraday Future Intel	Pair Corr
0.67	FOXF	Fox Factory Holding	Pair Corr
0.63	HMC	Honda Motor	Pair Corr
0.58	VLCN	Volcon Inc	Pair Corr

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

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

Additional Tools for Worksport Stock Analysis

When running Worksport's price analysis, check to measure Worksport's 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 Worksport is operating at the current time. Most of Worksport's value examination focuses on studying past and present price action to predict the probability of Worksport's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Worksport's price. Additionally, you may evaluate how the addition of Worksport to your portfolios can decrease your overall portfolio volatility.

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