Ningbo Gross Profit vs Income Tax Expense Analysis

300439 Stock

11.61 0.11 0.96%

Ningbo MedicalSystem financial indicator trend analysis is infinitely more than just investigating Ningbo MedicalSystem recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Ningbo MedicalSystem is a good investment. Please check the relationship between Ningbo MedicalSystem Gross Profit and its Income Tax Expense accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ningbo MedicalSystem Biotechnology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Gross Profit vs Income Tax Expense

Gross Profit vs Income Tax Expense Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Ningbo MedicalSystem Gross Profit account and Income Tax Expense. At this time, the significance of the direction appears to have fragmental relationship.

The correlation between Ningbo MedicalSystem's Gross Profit and Income Tax Expense is 0.47. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Income Tax Expense in the same time period over historical financial statements of Ningbo MedicalSystem Biotechnology, assuming nothing else is changed. The correlation between historical values of Ningbo MedicalSystem's Gross Profit and Income Tax Expense is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Gross Profit of Ningbo MedicalSystem Biotechnology are associated (or correlated) with its Income Tax Expense. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Income Tax Expense has no effect on the direction of Gross Profit i.e., Ningbo MedicalSystem's Gross Profit and Income Tax Expense go up and down completely randomly.

Correlation Coefficient

0.47

Relationship Direction	Positive
Relationship Strength	Weak

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Gross Profit

Gross profit is a required income statement account that reflects total revenue of Ningbo MedicalSystem Biotechnology minus its cost of goods sold. It is profit before Ningbo MedicalSystem operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Income Tax Expense

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

The current year's Tax Provision is expected to grow to about 38 M, whereas Selling General Administrative is forecasted to decline to about 307.3 M.

	2021	2022	2023	2024 (projected)
Operating Income	295.9M	312.8M	253.0M	283.2M
Total Revenue	2.3B	2.5B	1.9B	1.8B

Operating Income Total Revenue

Ningbo MedicalSystem fundamental ratios Correlations

	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Retained Earnings	Accounts Payable	Cash	Other Assets	Net Receivables	Inventory	Other Current Assets	Total Liab	Intangible Assets	Common Stock	Property Plant Equipment	Net Tangible Assets	Short Term Investments	Other Stockholder Equity	Deferred Long Term Liab	Total Current Assets	Non Current Assets Total	Non Currrent Assets Other	Long Term Debt	Good Will	Non Current Liabilities Total
Total Assets		0.69	0.88	0.89	0.62	0.89	0.86	0.67	0.95	0.92	0.89	0.7	0.89	0.89	0.9	0.83	0.3	-0.77	-0.5	0.79	0.91	0.89	0.27	-0.84	0.06	0.7
Other Current Liab	0.69		0.85	0.39	0.54	0.49	0.35	0.12	0.51	0.84	0.81	0.8	0.81	0.73	0.48	0.22	-0.33	-0.17	0.17	0.77	0.71	0.6	0.45	-0.29	0.51	0.43
Total Current Liabilities	0.88	0.85		0.58	0.66	0.63	0.63	0.32	0.79	0.98	0.95	0.75	0.98	0.86	0.67	0.61	-0.11	-0.57	-0.19	0.95	0.89	0.85	0.37	-0.62	0.21	0.76
Total Stockholder Equity	0.89	0.39	0.58		0.56	0.96	0.89	0.87	0.87	0.67	0.67	0.56	0.59	0.76	0.94	0.85	0.63	-0.76	-0.69	0.45	0.76	0.7	0.06	-0.87	-0.17	0.43
Other Liab	0.62	0.54	0.66	0.56		0.6	0.46	0.35	0.55	0.68	0.76	0.78	0.55	0.68	0.6	0.46	0.0	-0.34	-0.27	0.53	0.72	0.5	0.08	-0.55	-0.12	0.21
Retained Earnings	0.89	0.49	0.63	0.96	0.6		0.82	0.82	0.84	0.72	0.71	0.58	0.62	0.78	0.89	0.79	0.51	-0.73	-0.62	0.47	0.79	0.77	0.23	-0.86	0.03	0.36
Accounts Payable	0.86	0.35	0.63	0.89	0.46	0.82		0.79	0.93	0.7	0.62	0.49	0.68	0.64	0.8	0.93	0.68	-0.88	-0.8	0.58	0.76	0.75	-0.08	-0.91	-0.32	0.67
Cash	0.67	0.12	0.32	0.87	0.35	0.82	0.79		0.67	0.43	0.43	0.28	0.34	0.47	0.77	0.75	0.76	-0.72	-0.67	0.21	0.57	0.5	-0.04	-0.75	-0.28	0.31
Other Assets	0.95	0.51	0.79	0.87	0.55	0.84	0.93	0.67		0.84	0.76	0.6	0.83	0.77	0.85	0.89	0.45	-0.85	-0.68	0.77	0.82	0.87	0.16	-0.88	-0.1	0.76
Net Receivables	0.92	0.84	0.98	0.67	0.68	0.72	0.7	0.43	0.84		0.93	0.76	0.97	0.84	0.72	0.67	0.0	-0.64	-0.29	0.91	0.93	0.9	0.37	-0.7	0.22	0.73
Inventory	0.89	0.81	0.95	0.67	0.76	0.71	0.62	0.43	0.76	0.93		0.76	0.91	0.92	0.77	0.61	-0.05	-0.54	-0.16	0.85	0.89	0.77	0.37	-0.61	0.12	0.62
Other Current Assets	0.7	0.8	0.75	0.56	0.78	0.58	0.49	0.28	0.6	0.76	0.76		0.68	0.77	0.6	0.36	-0.06	-0.23	-0.13	0.63	0.74	0.53	0.12	-0.45	0.13	0.33
Total Liab	0.89	0.81	0.98	0.59	0.55	0.62	0.68	0.34	0.83	0.97	0.91	0.68		0.83	0.67	0.66	-0.06	-0.63	-0.24	0.96	0.85	0.87	0.36	-0.63	0.19	0.85
Intangible Assets	0.89	0.73	0.86	0.76	0.68	0.78	0.64	0.47	0.77	0.84	0.92	0.77	0.83		0.86	0.63	0.04	-0.5	-0.26	0.73	0.78	0.7	0.24	-0.61	0.05	0.55
Common Stock	0.9	0.48	0.67	0.94	0.6	0.89	0.8	0.77	0.85	0.72	0.77	0.6	0.67	0.86		0.77	0.42	-0.66	-0.51	0.56	0.73	0.66	0.1	-0.74	-0.14	0.5
Property Plant Equipment	0.83	0.22	0.61	0.85	0.46	0.79	0.93	0.75	0.89	0.67	0.61	0.36	0.66	0.63	0.77		0.63	-0.97	-0.84	0.54	0.76	0.8	-0.04	-0.96	-0.34	0.68
Net Tangible Assets	0.3	-0.33	-0.11	0.63	0.0	0.51	0.68	0.76	0.45	0.0	-0.05	-0.06	-0.06	0.04	0.42	0.63		-0.61	-0.81	-0.16	0.2	0.19	-0.34	-0.62	-0.55	0.1
Short Term Investments	-0.77	-0.17	-0.57	-0.76	-0.34	-0.73	-0.88	-0.72	-0.85	-0.64	-0.54	-0.23	-0.63	-0.5	-0.66	-0.97	-0.61		0.8	-0.53	-0.74	-0.84	-0.09	0.94	0.22	-0.7
Other Stockholder Equity	-0.5	0.17	-0.19	-0.69	-0.27	-0.62	-0.8	-0.67	-0.68	-0.29	-0.16	-0.13	-0.24	-0.26	-0.51	-0.84	-0.81	0.8		-0.15	-0.42	-0.51	0.33	0.85	0.5	-0.37
Deferred Long Term Liab	0.79	0.77	0.95	0.45	0.53	0.47	0.58	0.21	0.77	0.91	0.85	0.63	0.96	0.73	0.56	0.54	-0.16	-0.53	-0.15		0.74	0.79	0.41	-0.5	0.21	0.85
Total Current Assets	0.91	0.71	0.89	0.76	0.72	0.79	0.76	0.57	0.82	0.93	0.89	0.74	0.85	0.78	0.73	0.76	0.2	-0.74	-0.42	0.74		0.88	0.26	-0.82	0.09	0.61
Non Current Assets Total	0.89	0.6	0.85	0.7	0.5	0.77	0.75	0.5	0.87	0.9	0.77	0.53	0.87	0.7	0.66	0.8	0.19	-0.84	-0.51	0.79	0.88		0.44	-0.84	0.25	0.73
Non Currrent Assets Other	0.27	0.45	0.37	0.06	0.08	0.23	-0.08	-0.04	0.16	0.37	0.37	0.12	0.36	0.24	0.1	-0.04	-0.34	-0.09	0.33	0.41	0.26	0.44		-0.03	0.8	0.14
Long Term Debt	-0.84	-0.29	-0.62	-0.87	-0.55	-0.86	-0.91	-0.75	-0.88	-0.7	-0.61	-0.45	-0.63	-0.61	-0.74	-0.96	-0.62	0.94	0.85	-0.5	-0.82	-0.84	-0.03		0.21	-0.56
Good Will	0.06	0.51	0.21	-0.17	-0.12	0.03	-0.32	-0.28	-0.1	0.22	0.12	0.13	0.19	0.05	-0.14	-0.34	-0.55	0.22	0.5	0.21	0.09	0.25	0.8	0.21		-0.07
Non Current Liabilities Total	0.7	0.43	0.76	0.43	0.21	0.36	0.67	0.31	0.76	0.73	0.62	0.33	0.85	0.55	0.5	0.68	0.1	-0.7	-0.37	0.85	0.61	0.73	0.14	-0.56	-0.07

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Ningbo MedicalSystem Account Relationship Matchups

Ningbo MedicalSystem fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	3.7B	3.3B	3.6B	3.6B	3.5B	2.8B
Other Current Liab	415.8M	162.8M	189.5M	293.1M	10.1M	9.6M
Total Current Liabilities	2.1B	1.4B	1.1B	981.3M	699.1M	1.1B
Total Stockholder Equity	1.3B	1.6B	2.3B	2.5B	2.7B	1.6B
Other Liab	50.1M	80.5M	70.6M	48.9M	56.3M	56.9M
Retained Earnings	426.8M	753.4M	872.8M	1.0B	1.1B	720.5M
Accounts Payable	281.9M	277.2M	331.3M	374.3M	333.5M	199.3M
Cash	436.6M	328.2M	666.3M	806.4M	958.9M	487.9M
Other Assets	181.0M	205.3M	202.2M	164.0M	188.6M	125.5M
Net Receivables	1.2B	856.1M	810.8M	815.9M	567.7M	729.7M
Inventory	409.5M	253.9M	211.4M	218.0M	259.0M	250.1M
Other Current Assets	85.7M	61.4M	157.7M	74.9M	24.6M	23.4M
Total Liab	2.4B	1.6B	1.2B	1.1B	782.5M	1.1B
Intangible Assets	171.6M	163.4M	148.4M	120.2M	127.8M	131.4M
Common Stock	346.4M	345.3M	343.0M	383.0M	440.4M	302.0M
Property Plant Equipment	906.2M	1.0B	1.0B	1.1B	1.2B	1.3B
Net Tangible Assets	1.1B	1.5B	2.2B	2.4B	2.7B	1.5B
Other Stockholder Equity	734.6K	(24.9M)	(25.6M)	(24.7M)	(22.2M)	(21.1M)
Deferred Long Term Liab	91.5M	65.9M	35.2M	18.6M	21.4M	20.3M
Total Current Assets	2.1B	1.6B	2.0B	2.1B	1.9B	2.1B
Non Current Assets Total	1.6B	1.7B	1.6B	1.5B	1.6B	1.7B
Non Currrent Assets Other	38.6M	35.6M	26.2M	17.9M	53.1M	33.0M
Long Term Debt	243.0M	97.0M	45.0M	7.0M	6.3M	6.0M
Good Will	173.3M	836.5M	16.4M	13.6M	12.2M	11.6M
Non Current Liabilities Total	293.1M	177.5M	141.2M	82.9M	83.4M	138.0M
Short Long Term Debt	1.2B	782.4M	340.2M	217.8M	50.1M	47.6M
Non Current Liabilities Other	18.2M	120M	243.0M	11.6M	1.4M	1.4M
Common Stock Shares Outstanding	346.4M	345.3M	343.0M	383.0M	440.4M	397.7M
Net Invested Capital	2.8B	2.5B	2.7B	2.7B	2.8B	2.2B
Net Working Capital	72.1M	180.4M	948.7M	1.1B	1.2B	680.6M

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Balance Sheet is a snapshot of the financial position of Ningbo MedicalSystem at a specified time, usually calculated after every quarter, six months, or one year. Ningbo MedicalSystem Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Ningbo MedicalSystem and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which Ningbo currently owns. An asset can also be divided into two categories, current and non-current.

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Ningbo Gross Profit vs Income Tax Expense Analysis

Gross Profit vs Income Tax Expense

Gross Profit vs Income Tax Expense Correlation Analysis

Correlation Coefficient

Gross Profit

Income Tax Expense

Ningbo MedicalSystem fundamental ratios Correlations

Ningbo MedicalSystem Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Ningbo MedicalSystem fundamental ratios Accounts

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Other Information on Investing in Ningbo Stock

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Net Receivables	+ 0.98	Total Current Liabilities
Total Liab	+ 0.98	Total Current Liabilities
Total Liab	+ 0.97	Net Receivables
Retained Earnings	+ 0.96	Total Stockholder Equity
Deferred Long Term Liab	+ 0.96	Total Liab
Other Assets	+ 0.95	Total Assets

Short Term Investments	- 0.97	Property Plant Equipment
Long Term Debt	- 0.96	Property Plant Equipment
Long Term Debt	- 0.91	Accounts Payable
Long Term Debt	- 0.88	Other Assets
Short Term Investments	- 0.88	Accounts Payable
Long Term Debt	- 0.87	Total Stockholder Equity