AltaGas Interest Expense vs Operating Income Analysis

ALA Stock

CAD 34.08 0.09 0.26%

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

Interest Expense vs Operating Income

Interest Expense vs Operating Income Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of AltaGas Interest Expense account and Operating Income. At this time, the significance of the direction appears to have strong relationship.

The correlation between AltaGas' Interest Expense and Operating Income is 0.65. Overlapping area represents the amount of variation of Interest Expense that can explain the historical movement of Operating Income in the same time period over historical financial statements of AltaGas, assuming nothing else is changed. The correlation between historical values of AltaGas' Interest Expense and Operating Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Interest Expense of AltaGas are associated (or correlated) with its Operating Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Operating Income has no effect on the direction of Interest Expense i.e., AltaGas' Interest Expense and Operating Income go up and down completely randomly.

Correlation Coefficient

0.65

Relationship Direction	Positive
Relationship Strength	Significant

View All Relationships

Interest Expense

The cost incurred by an entity for borrowed funds, including loans, bonds, or lines of credit.

Operating Income

Operating Income is the amount of profit realized from AltaGas operations after accounting for operating expenses such as cost of goods sold (COGS), wages and depreciation. Operating income takes the gross income and subtracts other operating expenses and then removes depreciation. Operating Income of AltaGas is typically a synonym for earnings before interest and taxes (EBIT) and is also commonly referred to as operating profit or recurring profit. Earnings before interest and taxes (EBIT), representing the amount of profit a company generates from its operations.

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

At this time, AltaGas' Tax Provision is very stable compared to the past year. As of the 28th of November 2024, Enterprise Value Over EBITDA is likely to grow to 10.88, while Selling General Administrative is likely to drop about 54.1 M.

	2021	2022	2023	2024 (projected)
Gross Profit	2.9B	2.9B	2.9B	3.0B
Total Revenue	10.6B	14.1B	13.0B	13.6B

Gross Profit Total Revenue

AltaGas fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Non Current Assets Total	Non Currrent Assets Other	Net Receivables	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Short Term Debt	Intangible Assets	Cash	Cash And Short Term Investments	Good Will	Current Deferred Revenue
Total Assets		1.0	0.68	0.97	0.98	0.99	1.0	-0.84	0.97	1.0	0.48	0.97	0.97	1.0	0.93	0.62	0.9	1.0	0.97	0.94	0.82	0.11	0.0	-0.02	0.97	0.88
Short Long Term Debt Total	1.0		0.69	0.97	0.96	0.98	1.0	-0.82	0.97	0.99	0.5	0.98	0.95	1.0	0.93	0.65	0.91	1.0	0.97	0.95	0.82	0.07	0.0	-0.02	0.97	0.88
Other Current Liab	0.68	0.69		0.71	0.63	0.6	0.69	-0.75	0.64	0.64	0.22	0.72	0.62	0.69	0.69	0.87	0.58	0.7	0.56	0.82	0.56	0.16	-0.05	-0.06	0.63	0.7
Total Current Liabilities	0.97	0.97	0.71		0.92	0.93	0.97	-0.84	0.95	0.96	0.43	0.96	0.9	0.96	0.88	0.71	0.91	0.98	0.91	0.95	0.91	0.08	-0.05	-0.07	0.94	0.87
Total Stockholder Equity	0.98	0.96	0.63	0.92		0.99	0.96	-0.83	0.92	0.99	0.52	0.91	0.98	0.96	0.89	0.53	0.84	0.96	0.97	0.87	0.79	0.22	0.05	0.03	0.92	0.84
Property Plant And Equipment Net	0.99	0.98	0.6	0.93	0.99		0.98	-0.78	0.95	0.99	0.55	0.94	0.98	0.98	0.92	0.52	0.87	0.98	0.99	0.88	0.77	0.12	0.03	0.01	0.95	0.84
Net Debt	1.0	1.0	0.69	0.97	0.96	0.98		-0.82	0.97	0.99	0.5	0.98	0.95	1.0	0.94	0.65	0.91	1.0	0.97	0.95	0.82	0.07	-0.03	-0.05	0.97	0.88
Retained Earnings	-0.84	-0.82	-0.75	-0.84	-0.83	-0.78	-0.82		-0.73	-0.84	-0.11	-0.75	-0.79	-0.81	-0.67	-0.72	-0.63	-0.82	-0.72	-0.79	-0.83	-0.45	0.09	0.11	-0.75	-0.82
Accounts Payable	0.97	0.97	0.64	0.95	0.92	0.95	0.97	-0.73		0.96	0.53	0.99	0.94	0.98	0.96	0.57	0.97	0.98	0.96	0.93	0.75	-0.11	-0.1	-0.12	0.99	0.82
Non Current Assets Total	1.0	0.99	0.64	0.96	0.99	0.99	0.99	-0.84	0.96		0.47	0.95	0.98	0.99	0.92	0.57	0.89	0.99	0.97	0.91	0.81	0.13	-0.01	-0.03	0.96	0.87
Non Currrent Assets Other	0.48	0.5	0.22	0.43	0.52	0.55	0.5	-0.11	0.53	0.47		0.53	0.49	0.5	0.64	0.18	0.6	0.49	0.62	0.5	0.22	-0.25	0.1	0.09	0.45	0.24
Net Receivables	0.97	0.98	0.72	0.96	0.91	0.94	0.98	-0.75	0.99	0.95	0.53		0.92	0.98	0.97	0.65	0.96	0.98	0.94	0.96	0.76	-0.1	-0.1	-0.11	0.98	0.84
Common Stock Shares Outstanding	0.97	0.95	0.62	0.9	0.98	0.98	0.95	-0.79	0.94	0.98	0.49	0.92		0.96	0.91	0.46	0.86	0.95	0.97	0.85	0.71	0.11	-0.04	-0.05	0.95	0.82
Non Current Liabilities Total	1.0	1.0	0.69	0.96	0.96	0.98	1.0	-0.81	0.98	0.99	0.5	0.98	0.96		0.95	0.63	0.91	1.0	0.97	0.95	0.79	0.05	-0.01	-0.03	0.98	0.88
Inventory	0.93	0.93	0.69	0.88	0.89	0.92	0.94	-0.67	0.96	0.92	0.64	0.97	0.91	0.95		0.56	0.95	0.94	0.95	0.92	0.62	-0.16	-0.07	-0.08	0.95	0.76
Other Current Assets	0.62	0.65	0.87	0.71	0.53	0.52	0.65	-0.72	0.57	0.57	0.18	0.65	0.46	0.63	0.56		0.53	0.65	0.48	0.82	0.68	0.2	0.0	-0.02	0.54	0.69
Other Stockholder Equity	0.9	0.91	0.58	0.91	0.84	0.87	0.91	-0.63	0.97	0.89	0.6	0.96	0.86	0.91	0.95	0.53		0.92	0.9	0.89	0.71	-0.26	-0.14	-0.16	0.95	0.72
Total Liab	1.0	1.0	0.7	0.98	0.96	0.98	1.0	-0.82	0.98	0.99	0.49	0.98	0.95	1.0	0.94	0.65	0.92		0.97	0.95	0.82	0.05	-0.02	-0.04	0.98	0.88
Property Plant And Equipment Gross	0.97	0.97	0.56	0.91	0.97	0.99	0.97	-0.72	0.96	0.97	0.62	0.94	0.97	0.97	0.95	0.48	0.9	0.97		0.88	0.73	0.0	0.01	-0.01	0.95	0.8
Total Current Assets	0.94	0.95	0.82	0.95	0.87	0.88	0.95	-0.79	0.93	0.91	0.5	0.96	0.85	0.95	0.92	0.82	0.89	0.95	0.88		0.79	0.0	0.02	0.0	0.91	0.85
Short Term Debt	0.82	0.82	0.56	0.91	0.79	0.77	0.82	-0.83	0.75	0.81	0.22	0.76	0.71	0.79	0.62	0.68	0.71	0.82	0.73	0.79		0.28	0.02	0.0	0.74	0.79
Intangible Assets	0.11	0.07	0.16	0.08	0.22	0.12	0.07	-0.45	-0.11	0.13	-0.25	-0.1	0.11	0.05	-0.16	0.2	-0.26	0.05	0.0	0.0	0.28		0.27	0.25	-0.09	0.2
Cash	0.0	0.0	-0.05	-0.05	0.05	0.03	-0.03	0.09	-0.1	-0.01	0.1	-0.1	-0.04	-0.01	-0.07	0.0	-0.14	-0.02	0.01	0.02	0.02	0.27		1.0	-0.1	0.04
Cash And Short Term Investments	-0.02	-0.02	-0.06	-0.07	0.03	0.01	-0.05	0.11	-0.12	-0.03	0.09	-0.11	-0.05	-0.03	-0.08	-0.02	-0.16	-0.04	-0.01	0.0	0.0	0.25	1.0		-0.12	0.01
Good Will	0.97	0.97	0.63	0.94	0.92	0.95	0.97	-0.75	0.99	0.96	0.45	0.98	0.95	0.98	0.95	0.54	0.95	0.98	0.95	0.91	0.74	-0.09	-0.1	-0.12		0.83
Current Deferred Revenue	0.88	0.88	0.7	0.87	0.84	0.84	0.88	-0.82	0.82	0.87	0.24	0.84	0.82	0.88	0.76	0.69	0.72	0.88	0.8	0.85	0.79	0.2	0.04	0.01	0.83

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AltaGas Account Relationship Matchups

AltaGas fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	19.8B	21.5B	21.6B	24.0B	23.5B	24.6B
Short Long Term Debt Total	7.5B	8.6B	8.7B	10.2B	9.9B	10.4B
Other Current Liab	424.1M	273M	357M	806M	139M	171.4M
Total Current Liabilities	3.1B	2.6B	2.7B	3.4B	3.4B	3.6B
Total Stockholder Equity	7.2B	7.0B	6.9B	7.5B	7.7B	8.1B
Property Plant And Equipment Net	10.3B	11.3B	11.6B	12.0B	13.1B	13.7B
Net Debt	7.4B	8.6B	8.6B	10.1B	9.8B	10.3B
Retained Earnings	(1.4B)	(1.2B)	(1.2B)	(1.1B)	(817M)	(776.2M)
Accounts Payable	1.3B	1.5B	1.5B	1.9B	1.9B	2.0B
Non Current Assets Total	17.6B	19.0B	19.0B	19.3B	20.4B	21.4B
Non Currrent Assets Other	76M	45M	44M	1.3B	1.3B	1.3B
Net Receivables	1.3B	1.4B	1.4B	2.0B	1.7B	1.8B
Common Stock Shares Outstanding	277.4M	279.7M	281.7M	283.3M	283.7M	297.9M
Liabilities And Stockholders Equity	19.8B	21.5B	21.6B	24.0B	23.5B	24.6B
Non Current Liabilities Total	9.3B	11.3B	11.3B	12.9B	12.2B	12.8B
Inventory	505.6M	636M	782M	1.1B	847M	889.4M
Other Current Assets	369M	384M	374M	1.5B	386M	264.6M
Other Stockholder Equity	376.8M	383M	388M	625M	624M	655.2M
Total Liab	12.4B	13.9B	14.0B	16.3B	15.6B	16.4B
Property Plant And Equipment Gross	10.3B	11.3B	13.5B	13.7B	15.3B	16.1B
Total Current Assets	2.2B	2.5B	2.6B	4.6B	3.0B	3.2B
Accumulated Other Comprehensive Income	244.9M	50M	(7M)	626M	395M	414.8M
Short Term Debt	1.4B	715M	771M	719M	1.2B	1.3B
Intangible Assets	585.6M	551M	188M	159M	148M	140.6M
Cash	57.1M	32M	63M	53M	98M	68.2M
Cash And Short Term Investments	57.1M	32M	63M	53M	95M	71.9M
Good Will	3.9B	5.0B	5.2B	5.3B	5.3B	5.5B
Current Deferred Revenue	76.6M	73M	74M	79M	92M	48.3M
Common Stock Total Equity	4.0B	6.7B	6.7B	6.7B	7.7B	4.6B
Common Stock	6.7B	6.7B	6.7B	6.8B	7.1B	5.3B
Other Liab	3.2B	3.3B	3.4B	3.5B	4.0B	2.5B
Net Tangible Assets	1.4B	374M	532M	1.5B	1.3B	1.0B
Long Term Debt	5.9B	7.6B	7.7B	9.2B	8.3B	6.3B
Deferred Long Term Liab	493M	456M	455M	484M	556.6M	396.3M
Long Term Investments	1.5B	887M	623M	654M	686M	947.0M
Short Long Term Debt	1.4B	612M	680M	627M	1.1B	801.9M
Property Plant Equipment	10.3B	11.3B	11.6B	12.0B	13.8B	9.5B
Long Term Debt Total	5.9B	7.6B	7.7B	9.2B	10.6B	6.7B

Pair Trading with AltaGas

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

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

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

Other Information on Investing in AltaGas Stock

Balance Sheet is a snapshot of the financial position of AltaGas at a specified time, usually calculated after every quarter, six months, or one year. AltaGas Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of AltaGas 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 AltaGas currently owns. An asset can also be divided into two categories, current and non-current.

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AltaGas Interest Expense vs Operating Income Analysis

Interest Expense vs Operating Income

Interest Expense vs Operating Income Correlation Analysis

Correlation Coefficient

Interest Expense

Operating Income

AltaGas fundamental ratios Correlations

AltaGas Account Relationship Matchups

High Positive Relationship

High Negative Relationship

AltaGas fundamental ratios Accounts

Pair Trading with AltaGas

Other Information on Investing in AltaGas Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Short Long Term Debt Total	+ 1.0	Total Assets
Net Debt	+ 1.0	Total Assets
Non Current Assets Total	+ 1.0	Total Assets
Non Current Liabilities Total	+ 1.0	Total Assets
Total Liab	+ 1.0	Total Assets
Net Debt	+ 1.0	Short Long Term Debt Total

Non Current Assets Total	- 0.84	Retained Earnings
Retained Earnings	- 0.84	Total Current Liabilities
Retained Earnings	- 0.84	Total Assets
Short Term Debt	- 0.83	Retained Earnings
Retained Earnings	- 0.83	Total Stockholder Equity
Current Deferred Revenue	- 0.82	Retained Earnings