Canacol Energy Stock Z Score
| CNE Stock | CAD 3.80 0.07 1.81% |
Canacol | Z Score |
Canacol Energy Company Z Score Analysis
Canacol Energy's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
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Canacol Z Score Driver Correlations
Understanding the fundamental principles of building solid financial models for Canacol Energy is extremely important. It helps to project a fair market value of Canacol Stock properly, considering its historical fundamentals such as Z Score. Since Canacol Energy's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Canacol Energy's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Canacol Energy's interrelated accounts and indicators.
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To calculate a Z-Score, one would need to know a company's current working capital, its total assets and liabilities, and the amount of its latest earnings as well as earnings before interest and tax. Z-Scores can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area,' with scores of less than 1 indicating the highest probability of distress. Z Score is a used widely measure by financial auditors, accountants, money managers, loan processors, wealth advisers, and day traders. In the last 25 years, many financial models that utilize z-scores proved it to be successful as a predictor of corporate bankruptcy.
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In accordance with the company's disclosures, Canacol Energy has a Z Score of 0.0. This is 100.0% lower than that of the Oil, Gas & Consumable Fuels sector and 100.0% lower than that of the Energy industry. The z score for all Canada stocks is 100.0% higher than that of the company.
Canacol Energy Current Valuation Drivers
We derive many important indicators used in calculating different scores of Canacol Energy from analyzing Canacol Energy's financial statements. These drivers represent accounts that assess Canacol Energy's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Canacol Energy's important valuation drivers and their relationship over time.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Market Cap | 640.5M | 531.6M | 452.1M | 246.8M | 179.0M | 193.5M | |
| Enterprise Value | 834.1M | 968.0M | 826.1M | 700.5M | 816.0M | 856.8M |
Canacol Fundamentals
| Return On Equity | 0.067 | ||||
| Return On Asset | 0.0894 | ||||
| Profit Margin | 0.06 % | ||||
| Operating Margin | 0.63 % | ||||
| Current Valuation | 1.05 B | ||||
| Shares Outstanding | 34.11 M | ||||
| Shares Owned By Insiders | 20.59 % | ||||
| Shares Owned By Institutions | 23.46 % | ||||
| Number Of Shares Shorted | 411.4 K | ||||
| Price To Earning | 8.23 X | ||||
| Price To Book | 0.26 X | ||||
| Price To Sales | 0.37 X | ||||
| Revenue | 315.8 M | ||||
| Gross Profit | 251.34 M | ||||
| EBITDA | 183.71 M | ||||
| Net Income | 86.24 M | ||||
| Cash And Equivalents | 58.52 M | ||||
| Cash Per Share | 0.53 X | ||||
| Total Debt | 676.43 M | ||||
| Debt To Equity | 2.91 % | ||||
| Current Ratio | 2.24 X | ||||
| Book Value Per Share | 10.16 X | ||||
| Cash Flow From Operations | 95.34 M | ||||
| Short Ratio | 12.13 X | ||||
| Earnings Per Share | 0.93 X | ||||
| Target Price | 4.91 | ||||
| Number Of Employees | 396 | ||||
| Beta | 0.84 | ||||
| Market Capitalization | 132.01 M | ||||
| Total Asset | 1.23 B | ||||
| Retained Earnings | 138.08 M | ||||
| Working Capital | (13.27 M) | ||||
| Current Asset | 70.37 M | ||||
| Current Liabilities | 24.06 M | ||||
| Annual Yield | 0.28 % | ||||
| Net Asset | 1.23 B | ||||
| Last Dividend Paid | 0.21 |
About Canacol Energy Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Canacol Energy's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Canacol Energy using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Canacol Energy based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Canacol Energy
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 Canacol Energy 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 Canacol Energy will appreciate offsetting losses from the drop in the long position's value.Moving against Canacol Stock
The ability to find closely correlated positions to Canacol Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canacol Energy 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 Canacol Energy - 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 Canacol Energy to buy it.
The correlation of Canacol Energy 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 Canacol Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canacol 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 Canacol Energy 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.Other Information on Investing in Canacol Stock
Canacol Energy financial ratios help investors to determine whether Canacol Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Canacol with respect to the benefits of owning Canacol Energy security.