Advance Free Cash Flow vs Other Non Cash Items Analysis

AAP Stock

USD 40.79 2.10 5.43%

Advance Auto financial indicator trend analysis is way more than just evaluating Advance Auto Parts prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Advance Auto Parts is a good investment. Please check the relationship between Advance Auto Free Cash Flow and its Other Non Cash Items accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Advance Auto Parts. 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.

Free Cash Flow vs Other Non Cash Items

Free Cash Flow vs Other Non Cash Items Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Advance Auto Parts Free Cash Flow account and Other Non Cash Items. At this time, the significance of the direction appears to have no relationship.

The correlation between Advance Auto's Free Cash Flow and Other Non Cash Items is 0.07. Overlapping area represents the amount of variation of Free Cash Flow that can explain the historical movement of Other Non Cash Items in the same time period over historical financial statements of Advance Auto Parts, assuming nothing else is changed. The correlation between historical values of Advance Auto's Free Cash Flow and Other Non Cash Items is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Free Cash Flow of Advance Auto Parts are associated (or correlated) with its Other Non Cash Items. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Other Non Cash Items has no effect on the direction of Free Cash Flow i.e., Advance Auto's Free Cash Flow and Other Non Cash Items go up and down completely randomly.

Correlation Coefficient

0.07

Relationship Direction	Positive
Relationship Strength	Insignificant

View All Relationships

Free Cash Flow

The amount of cash a company generates after accounting for cash outflows to support operations and maintain its capital assets.

Other Non Cash Items

Most indicators from Advance Auto's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Advance Auto Parts 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 Advance Auto Parts. 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.

As of 11/24/2024, Selling General Administrative is likely to drop to about 2.6 B. In addition to that, Tax Provision is likely to drop to about 55.2 M

	2021	2022	2023	2024 (projected)
Gross Profit	4.9B	5.0B	4.5B	3.2B
Total Revenue	11.0B	11.2B	11.3B	7.2B

Gross Profit Total Revenue

Advance Auto fundamental ratios Correlations

	Total Assets	Total Stockholder Equity	Net Debt	Cash	Other Assets	Cash And Short Term Investments	Common Stock Shares Outstanding	Inventory	Other Stockholder Equity	Total Liab	Total Current Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Other Liab	Property Plant And Equipment Net	Current Deferred Revenue	Retained Earnings	Accounts Payable	Non Current Assets Total	Non Currrent Assets Other	Long Term Debt	Net Receivables	Common Stock Total Equity	Non Current Liabilities Total	Other Current Assets
Total Assets		0.75	0.86	0.22	-0.57	0.22	-0.2	0.83	-0.57	0.98	0.83	0.88	0.85	0.86	0.78	0.89	-0.68	0.95	0.84	0.97	0.57	0.65	0.97	-0.57	0.93	0.89
Total Stockholder Equity	0.75		0.36	0.38	-0.54	0.38	0.18	0.9	-0.02	0.59	0.92	0.39	0.59	0.79	0.76	0.46	-0.45	0.68	0.81	0.64	0.5	0.25	0.79	-0.56	0.47	0.61
Net Debt	0.86	0.36		-0.11	-0.32	-0.11	-0.5	0.56	-0.82	0.94	0.52	0.97	0.79	0.69	0.54	0.95	-0.67	0.85	0.64	0.94	0.51	0.65	0.79	-0.3	0.97	0.79
Cash	0.22	0.38	-0.11		-0.33	1.0	0.15	0.21	0.09	0.14	0.41	0.09	0.34	0.26	0.01	0.14	-0.31	0.18	0.24	0.1	-0.1	0.0	0.14	-0.34	0.09	0.24
Other Assets	-0.57	-0.54	-0.32	-0.33		-0.33	-0.56	-0.62	0.18	-0.52	-0.64	-0.3	-0.32	-0.63	-0.46	-0.39	0.07	-0.53	-0.65	-0.46	-0.13	-0.36	-0.53	1.0	-0.37	-0.45
Cash And Short Term Investments	0.22	0.38	-0.11	1.0	-0.33		0.15	0.21	0.09	0.14	0.41	0.09	0.34	0.26	0.01	0.14	-0.31	0.18	0.24	0.1	-0.1	0.0	0.14	-0.34	0.09	0.24
Common Stock Shares Outstanding	-0.2	0.18	-0.5	0.15	-0.56	0.15		0.04	0.57	-0.32	0.05	-0.55	-0.4	-0.11	-0.01	-0.45	0.49	-0.24	-0.05	-0.35	-0.36	-0.23	-0.15	-0.58	-0.48	-0.29
Inventory	0.83	0.9	0.56	0.21	-0.62	0.21	0.04		-0.23	0.73	0.98	0.54	0.57	0.95	0.78	0.57	-0.35	0.74	0.98	0.74	0.65	0.45	0.85	-0.64	0.62	0.67
Other Stockholder Equity	-0.57	-0.02	-0.82	0.09	0.18	0.09	0.57	-0.23		-0.7	-0.21	-0.81	-0.7	-0.43	-0.25	-0.81	0.61	-0.73	-0.36	-0.69	-0.27	-0.37	-0.43	0.14	-0.76	-0.65
Total Liab	0.98	0.59	0.94	0.14	-0.52	0.14	-0.32	0.73	-0.7		0.73	0.95	0.85	0.82	0.69	0.94	-0.68	0.93	0.79	0.98	0.55	0.7	0.92	-0.51	0.98	0.89
Total Current Assets	0.83	0.92	0.52	0.41	-0.64	0.41	0.05	0.98	-0.21	0.73		0.54	0.62	0.95	0.73	0.58	-0.42	0.74	0.96	0.73	0.59	0.43	0.83	-0.66	0.61	0.69
Short Long Term Debt Total	0.88	0.39	0.97	0.09	-0.3	0.09	-0.55	0.54	-0.81	0.95	0.54		0.87	0.68	0.51	0.97	-0.77	0.86	0.63	0.95	0.47	0.65	0.79	-0.28	0.99	0.83
Other Current Liab	0.85	0.59	0.79	0.34	-0.32	0.34	-0.4	0.57	-0.7	0.85	0.62	0.87		0.68	0.5	0.91	-0.92	0.91	0.62	0.88	0.35	0.37	0.75	-0.3	0.86	0.89
Total Current Liabilities	0.86	0.79	0.69	0.26	-0.63	0.26	-0.11	0.95	-0.43	0.82	0.95	0.68	0.68		0.67	0.73	-0.46	0.81	0.99	0.82	0.6	0.45	0.82	-0.64	0.74	0.73
Other Liab	0.78	0.76	0.54	0.01	-0.46	0.01	-0.01	0.78	-0.25	0.69	0.73	0.51	0.5	0.67		0.51	-0.35	0.73	0.7	0.69	0.75	0.52	0.86	-0.47	0.6	0.63
Property Plant And Equipment Net	0.89	0.46	0.95	0.14	-0.39	0.14	-0.45	0.57	-0.81	0.94	0.58	0.97	0.91	0.73	0.51		-0.8	0.9	0.66	0.96	0.41	0.48	0.77	-0.37	0.96	0.82
Current Deferred Revenue	-0.68	-0.45	-0.67	-0.31	0.07	-0.31	0.49	-0.35	0.61	-0.68	-0.42	-0.77	-0.92	-0.46	-0.35	-0.8		-0.74	-0.38	-0.74	-0.3	-0.25	-0.6	0.04	-0.75	-0.76
Retained Earnings	0.95	0.68	0.85	0.18	-0.53	0.18	-0.24	0.74	-0.73	0.93	0.74	0.86	0.91	0.81	0.73	0.9	-0.74		0.77	0.94	0.5	0.51	0.88	-0.51	0.89	0.9
Accounts Payable	0.84	0.81	0.64	0.24	-0.65	0.24	-0.05	0.98	-0.36	0.79	0.96	0.63	0.62	0.99	0.7	0.66	-0.38	0.77		0.79	0.63	0.47	0.83	-0.66	0.69	0.69
Non Current Assets Total	0.97	0.64	0.94	0.1	-0.46	0.1	-0.35	0.74	-0.69	0.98	0.73	0.95	0.88	0.82	0.69	0.96	-0.74	0.94	0.79		0.55	0.6	0.91	-0.44	0.97	0.87
Non Currrent Assets Other	0.57	0.5	0.51	-0.1	-0.13	-0.1	-0.36	0.65	-0.27	0.55	0.59	0.47	0.35	0.6	0.75	0.41	-0.3	0.5	0.63	0.55		0.51	0.66	-0.14	0.53	0.45
Long Term Debt	0.65	0.25	0.65	0.0	-0.36	0.0	-0.23	0.45	-0.37	0.7	0.43	0.65	0.37	0.45	0.52	0.48	-0.25	0.51	0.47	0.6	0.51		0.7	-0.34	0.69	0.62
Net Receivables	0.97	0.79	0.79	0.14	-0.53	0.14	-0.15	0.85	-0.43	0.92	0.83	0.79	0.75	0.82	0.86	0.77	-0.6	0.88	0.83	0.91	0.66	0.7		-0.52	0.86	0.86
Common Stock Total Equity	-0.57	-0.56	-0.3	-0.34	1.0	-0.34	-0.58	-0.64	0.14	-0.51	-0.66	-0.28	-0.3	-0.64	-0.47	-0.37	0.04	-0.51	-0.66	-0.44	-0.14	-0.34	-0.52		-0.35	-0.42
Non Current Liabilities Total	0.93	0.47	0.97	0.09	-0.37	0.09	-0.48	0.62	-0.76	0.98	0.61	0.99	0.86	0.74	0.6	0.96	-0.75	0.89	0.69	0.97	0.53	0.69	0.86	-0.35		0.86
Other Current Assets	0.89	0.61	0.79	0.24	-0.45	0.24	-0.29	0.67	-0.65	0.89	0.69	0.83	0.89	0.73	0.63	0.82	-0.76	0.9	0.69	0.87	0.45	0.62	0.86	-0.42	0.86

Click cells to compare fundamentals

Advance Auto Account Relationship Matchups

Advance Auto fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	11.2B	11.8B	12.2B	12.0B	12.3B	12.9B
Total Stockholder Equity	3.5B	3.6B	3.1B	2.6B	2.5B	1.8B
Net Debt	2.3B	2.2B	2.8B	3.4B	3.5B	3.7B
Cash	418.7M	835.0M	601.4M	270.8M	503.5M	279.7M
Other Assets	52.4M	52.3M	73.7M	62.4M	1.0	0.95
Cash And Short Term Investments	418.7M	835.0M	601.4M	270.8M	503.5M	279.7M
Common Stock Shares Outstanding	71.2M	69.0M	64.5M	60.7M	59.6M	66.6M
Liabilities And Stockholders Equity	11.2B	11.8B	12.2B	12.0B	12.3B	12.9B
Inventory	4.4B	4.5B	4.7B	4.9B	4.9B	2.8B
Other Stockholder Equity	(189.2M)	(610.4M)	(1.5B)	(2.0B)	(2.0B)	(1.9B)
Total Liab	7.7B	8.3B	9.1B	9.4B	9.8B	10.2B
Total Current Assets	5.7B	6.3B	6.3B	6.0B	6.4B	3.6B
Short Long Term Debt Total	2.8B	3.0B	3.4B	3.7B	4.0B	4.2B
Other Current Liab	1.1B	1.0B	1.1B	972.5M	1.0B	1.1B
Total Current Liabilities	4.5B	4.7B	5.2B	5.4B	5.3B	2.9B
Other Liab	457.3M	488.7M	513.6M	503.2M	578.7M	607.6M
Property Plant And Equipment Net	3.8B	3.8B	4.2B	4.3B	4.2B	4.4B
Current Deferred Revenue	(478.0M)	(462.6M)	(465.1M)	84.5M	(445.1M)	(422.8M)
Retained Earnings	3.8B	4.2B	4.6B	4.7B	4.6B	4.8B
Accounts Payable	3.4B	3.6B	3.9B	4.2B	4.2B	2.2B
Non Current Assets Total	5.6B	5.6B	5.9B	6.0B	5.9B	6.2B
Non Currrent Assets Other	52.4M	52.3M	73.7M	62.4M	86.9M	53.1M
Long Term Debt	747.3M	1.0B	1.0B	1.2B	1.8B	1.9B
Net Receivables	689.5M	750.0M	782.8M	684.0M	800.1M	840.1M
Non Current Liabilities Total	3.2B	3.5B	3.9B	4.0B	4.4B	4.7B
Other Current Assets	155.2M	146.8M	232.2M	163.7M	215.7M	226.5M
Property Plant And Equipment Gross	3.8B	3.8B	1.5B	4.3B	7.1B	7.4B
Accumulated Other Comprehensive Income	(34.6M)	(26.8M)	(22.6M)	(44.7M)	(52.2M)	(49.6M)
Short Term Debt	478.0M	462.6M	465.1M	185M	445.1M	467.3M
Property Plant Equipment	1.4B	1.5B	1.5B	4.3B	4.9B	5.2B
Treasury Stock	(426.0M)	(924.4M)	(1.4B)	(2.3B)	(2.1B)	(2.0B)
Good Will	992.2M	993.6M	993.7M	990.5M	991.7M	608.6M
Intangible Assets	709.8M	681.1M	651.2M	620.9M	593.3M	393.2M
Net Tangible Assets	3.9B	4.9B	2.5B	1.1B	1.2B	2.0B
Retained Earnings Total Equity	3.3B	3.8B	4.2B	4.6B	5.3B	2.7B
Long Term Debt Total	747.3M	1.0B	1.0B	1.2B	1.4B	1.0B
Capital Surpluse	735.2M	783.7M	845.4M	897.6M	1.0B	723.8M
Deferred Long Term Liab	303.6M	318.4M	334.0M	342.4M	393.8M	218.7M

Pair Trading with Advance Auto

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

Moving together with Advance Stock

0.67	AN	AutoNation	Pair Corr
0.89	FL	Foot Locker Earnings Call This Week	Pair Corr

Moving against Advance Stock

0.55	HD	Home Depot	Pair Corr
0.49	PLCE	Childrens Place	Pair Corr
0.47	TTSH	Tile Shop Holdings	Pair Corr

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

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

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

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