Canfor Net Income vs Change To Inventory Analysis

CFP Stock

CAD 17.04 0.27 1.56%

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

Net Income vs Change To Inventory

Net Income vs Change To Inventory Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canfor Net Income account and Change To Inventory. At this time, the significance of the direction appears to have pay attention.

The correlation between Canfor's Net Income and Change To Inventory is -0.75. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Change To Inventory in the same time period over historical financial statements of Canfor, assuming nothing else is changed. The correlation between historical values of Canfor's Net Income and Change To Inventory 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 Income of Canfor are associated (or correlated) with its Change To Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Change To Inventory has no effect on the direction of Net Income i.e., Canfor's Net Income and Change To Inventory go up and down completely randomly.

Correlation Coefficient

-0.75

Relationship Direction	Negative
Relationship Strength	Weak

View All Relationships

Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in Canfor financial statement analysis. It represents the amount of money remaining after all of Canfor operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Change To Inventory

The increase or decrease in the amount of inventory a company has over a certain period.

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

As of the 23rd of November 2024, Selling General Administrative is likely to drop to about 98.7 M. In addition to that, Tax Provision is likely to grow to about (134.4 M)

	2021	2022	2023	2024 (projected)
Cost Of Revenue	4.2B	4.8B	5.6B	5.9B
EBITDA	2.6B	1.7B	48M	45.6M

Cost Of Revenue Ebitda

Canfor 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	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	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	Current Deferred Revenue	Short Term Investments	Good Will
Total Assets		0.21	0.42	0.91	0.83	0.94	-0.58	0.81	0.95	0.82	0.95	0.42	0.82	0.96	0.12	0.63	0.99	0.78	-0.55	0.81	0.75	0.96	0.07	-0.13	0.52	0.86
Short Long Term Debt Total	0.21		-0.52	0.46	-0.05	0.36	0.57	-0.02	0.26	-0.16	0.34	0.1	-0.14	0.38	-0.18	0.77	0.2	0.27	-0.31	0.68	-0.05	0.07	0.66	0.46	-0.05	0.4
Other Current Liab	0.42	-0.52		0.27	0.49	0.22	-0.78	0.44	0.38	0.65	0.24	0.14	0.65	0.32	0.25	-0.11	0.45	0.19	0.16	0.06	0.44	0.55	-0.47	-0.41	0.29	0.22
Total Current Liabilities	0.91	0.46	0.27		0.7	0.87	-0.37	0.69	0.89	0.7	0.87	0.34	0.7	0.95	0.08	0.73	0.9	0.81	-0.58	0.91	0.67	0.86	0.35	-0.05	0.45	0.87
Total Stockholder Equity	0.83	-0.05	0.49	0.7		0.8	-0.75	0.99	0.84	0.87	0.76	0.33	0.87	0.78	0.04	0.38	0.8	0.65	-0.51	0.55	0.97	0.83	-0.06	-0.43	0.56	0.87
Property Plant And Equipment Net	0.94	0.36	0.22	0.87	0.8		-0.36	0.77	0.9	0.62	0.99	0.21	0.63	0.92	0.19	0.72	0.9	0.76	-0.56	0.84	0.74	0.81	0.21	-0.01	0.66	0.88
Net Debt	-0.58	0.57	-0.78	-0.37	-0.75	-0.36		-0.74	-0.57	-0.9	-0.37	-0.45	-0.89	-0.46	-0.01	0.1	-0.6	-0.36	0.21	-0.11	-0.71	-0.74	0.47	0.6	-0.23	-0.44
Retained Earnings	0.81	-0.02	0.44	0.69	0.99	0.77	-0.74		0.85	0.88	0.72	0.42	0.88	0.78	-0.11	0.35	0.78	0.61	-0.5	0.53	0.98	0.82	-0.03	-0.49	0.45	0.88
Accounts Payable	0.95	0.26	0.38	0.89	0.84	0.9	-0.57	0.85		0.82	0.89	0.5	0.83	0.97	-0.08	0.65	0.94	0.68	-0.55	0.81	0.77	0.93	0.02	-0.17	0.4	0.92
Cash	0.82	-0.16	0.65	0.7	0.87	0.62	-0.9	0.88	0.82		0.63	0.6	1.0	0.75	-0.07	0.29	0.83	0.6	-0.43	0.5	0.82	0.93	-0.2	-0.47	0.26	0.74
Non Current Assets Total	0.95	0.34	0.24	0.87	0.76	0.99	-0.37	0.72	0.89	0.63		0.25	0.63	0.93	0.22	0.72	0.92	0.77	-0.55	0.85	0.67	0.83	0.18	0.03	0.64	0.84
Non Currrent Assets Other	0.42	0.1	0.14	0.34	0.33	0.21	-0.45	0.42	0.5	0.6	0.25		0.6	0.43	-0.6	0.18	0.43	0.15	-0.16	0.27	0.28	0.55	-0.08	-0.33	-0.49	0.39
Cash And Short Term Investments	0.82	-0.14	0.65	0.7	0.87	0.63	-0.89	0.88	0.83	1.0	0.63	0.6		0.76	-0.08	0.3	0.83	0.58	-0.42	0.51	0.82	0.93	-0.21	-0.47	0.25	0.75
Net Receivables	0.96	0.38	0.32	0.95	0.78	0.92	-0.46	0.78	0.97	0.75	0.93	0.43	0.76		-0.03	0.7	0.94	0.72	-0.51	0.87	0.73	0.91	0.2	-0.08	0.43	0.91
Common Stock Shares Outstanding	0.12	-0.18	0.25	0.08	0.04	0.19	-0.01	-0.11	-0.08	-0.07	0.22	-0.6	-0.08	-0.03		0.14	0.13	0.25	-0.05	0.13	-0.04	0.01	-0.11	0.35	0.75	-0.07
Non Current Liabilities Total	0.63	0.77	-0.11	0.73	0.38	0.72	0.1	0.35	0.65	0.29	0.72	0.18	0.3	0.7	0.14		0.63	0.49	-0.51	0.94	0.28	0.5	0.22	0.47	0.35	0.74
Inventory	0.99	0.2	0.45	0.9	0.8	0.9	-0.6	0.78	0.94	0.83	0.92	0.43	0.83	0.94	0.13	0.63		0.79	-0.59	0.81	0.7	0.97	0.03	-0.13	0.48	0.83
Other Current Assets	0.78	0.27	0.19	0.81	0.65	0.76	-0.36	0.61	0.68	0.6	0.77	0.15	0.58	0.72	0.25	0.49	0.79		-0.62	0.68	0.62	0.73	0.44	-0.2	0.54	0.65
Other Stockholder Equity	-0.55	-0.31	0.16	-0.58	-0.51	-0.56	0.21	-0.5	-0.55	-0.43	-0.55	-0.16	-0.42	-0.51	-0.05	-0.51	-0.59	-0.62		-0.58	-0.45	-0.51	-0.17	0.08	-0.35	-0.58
Total Liab	0.81	0.68	0.06	0.91	0.55	0.84	-0.11	0.53	0.81	0.5	0.85	0.27	0.51	0.87	0.13	0.94	0.81	0.68	-0.58		0.48	0.71	0.3	0.26	0.42	0.85
Property Plant And Equipment Gross	0.75	-0.05	0.44	0.67	0.97	0.74	-0.71	0.98	0.77	0.82	0.67	0.28	0.82	0.73	-0.04	0.28	0.7	0.62	-0.45	0.48		0.75	0.05	-0.53	0.52	0.84
Total Current Assets	0.96	0.07	0.55	0.86	0.83	0.81	-0.74	0.82	0.93	0.93	0.83	0.55	0.93	0.91	0.01	0.5	0.97	0.73	-0.51	0.71	0.75		-0.04	-0.28	0.36	0.81
Short Term Debt	0.07	0.66	-0.47	0.35	-0.06	0.21	0.47	-0.03	0.02	-0.2	0.18	-0.08	-0.21	0.2	-0.11	0.22	0.03	0.44	-0.17	0.3	0.05	-0.04		0.0	0.03	0.15
Current Deferred Revenue	-0.13	0.46	-0.41	-0.05	-0.43	-0.01	0.6	-0.49	-0.17	-0.47	0.03	-0.33	-0.47	-0.08	0.35	0.47	-0.13	-0.2	0.08	0.26	-0.53	-0.28	0.0		0.09	-0.12
Short Term Investments	0.52	-0.05	0.29	0.45	0.56	0.66	-0.23	0.45	0.4	0.26	0.64	-0.49	0.25	0.43	0.75	0.35	0.48	0.54	-0.35	0.42	0.52	0.36	0.03	0.09		0.46
Good Will	0.86	0.4	0.22	0.87	0.87	0.88	-0.44	0.88	0.92	0.74	0.84	0.39	0.75	0.91	-0.07	0.74	0.83	0.65	-0.58	0.85	0.84	0.81	0.15	-0.12	0.46

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Canfor Account Relationship Matchups

Canfor fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	4.5B	5.1B	6.2B	6.7B	6.1B	3.6B
Short Long Term Debt Total	1.1B	773.7M	335.8M	392.4M	399.3M	454.0M
Other Current Liab	16.3M	39.4M	480.7M	258.6M	176.6M	174.7M
Total Current Liabilities	967.5M	848.4M	1.1B	883.6M	905.2M	649.1M
Total Stockholder Equity	1.6B	2.2B	3.5B	4.2B	3.8B	4.0B
Property Plant And Equipment Net	2.0B	2.1B	1.9B	2.3B	2.6B	1.7B
Net Debt	1.1B	354.5M	(1.0B)	(876.3M)	(228.1M)	(216.7M)
Retained Earnings	674.3M	1.2B	2.6B	3.3B	3.0B	3.2B
Accounts Payable	364.2M	500.2M	559.8M	525.7M	540.5M	355.4M
Cash	60.1M	419.2M	1.4B	1.3B	627.4M	658.8M
Non Current Assets Total	3.1B	3.3B	3.0B	3.7B	3.9B	2.3B
Non Currrent Assets Other	90.1M	259.9M	261.4M	431.8M	65M	61.8M
Cash And Short Term Investments	60.1M	419.2M	1.4B	1.3B	627.4M	658.8M
Net Receivables	413.5M	432.7M	514.5M	477.5M	512.8M	288.7M
Liabilities And Stockholders Equity	4.5B	5.1B	6.2B	6.7B	6.1B	3.6B
Non Current Liabilities Total	1.5B	1.6B	1.1B	1.1B	948.8M	1.0B
Inventory	803.9M	867.5M	1.2B	1.2B	994.8M	603.7M
Other Current Assets	133M	73.8M	120.3M	138M	122.7M	78.6M
Other Stockholder Equity	(82.8M)	(127.4M)	(130.9M)	(157.7M)	(169.8M)	(161.3M)
Total Liab	2.5B	2.5B	2.2B	2.0B	1.9B	1.7B
Property Plant And Equipment Gross	2.0B	2.1B	5.3B	6.2B	6.6B	7.0B
Total Current Assets	1.4B	1.8B	3.2B	3.1B	2.3B	1.3B
Accumulated Other Comprehensive Income	65.9M	119.7M	45.9M	82.6M	45.5M	50.5M
Short Term Debt	416.3M	50.3M	41.1M	99.3M	186M	102.2M
Good Will	393.3M	499.5M	477M	498.5M	493.9M	518.6M
Intangible Assets	499.7M	475.3M	351M	391.4M	372.2M	375.2M
Other Liab	758M	903.3M	788.5M	799.7M	919.7M	730.1M
Net Tangible Assets	752.3M	1.2B	2.7B	3.3B	3.8B	4.0B
Other Assets	91M	267.4M	266.8M	59.9M	68.9M	113.4M
Long Term Debt	681.7M	662.9M	245.5M	213.6M	115.1M	109.3M
Long Term Investments	89.5M	18M	37.5M	33.4M	90.8M	49.6M
Short Long Term Debt	395M	26.2M	19.2M	73.1M	155.4M	133.5M
Property Plant Equipment	2.0B	2.1B	1.9B	2.3B	2.7B	1.8B
Long Term Debt Total	732.6M	723.4M	294.7M	293.1M	263.8M	374.1M
Capital Surpluse	(82.8M)	(172M)	(134.4M)	(184.5M)	(166.1M)	(157.7M)

Pair Trading with Canfor

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

Moving together with Canfor Stock

0.75	AG	First Majestic Silver	Pair Corr
0.78	IE	Ivanhoe Energy	Pair Corr
0.84	FDY	Faraday Copper Corp	Pair Corr

Moving against Canfor Stock

0.52

INFM

Infinico Metals Corp

Pair Corr

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

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

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

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Canfor Net Income vs Change To Inventory Analysis

Net Income vs Change To Inventory

Net Income vs Change To Inventory Correlation Analysis

Correlation Coefficient

Net Income

Change To Inventory

Canfor fundamental ratios Correlations

Canfor Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Canfor fundamental ratios Accounts

Pair Trading with Canfor

Moving together with Canfor Stock

Moving against Canfor Stock

Other Information on Investing in Canfor Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Cash And Short Term Investments	+ 1.0	Cash
Inventory	+ 0.99	Total Assets
Retained Earnings	+ 0.99	Total Stockholder Equity
Non Current Assets Total	+ 0.99	Property Plant And Equipment Net
Property Plant And Equipment Gross	+ 0.98	Retained Earnings
Property Plant And Equipment Gross	+ 0.97	Total Stockholder Equity

Cash	- 0.9	Net Debt
Cash And Short Term Investments	- 0.89	Net Debt
Net Debt	- 0.78	Other Current Liab
Net Debt	- 0.75	Total Stockholder Equity
Total Current Assets	- 0.74	Net Debt
Retained Earnings	- 0.74	Net Debt