Covenant Net Debt vs Total Current Assets Analysis

CVLG Stock

USD 57.77 1.03 1.82%

Covenant Logistics financial indicator trend analysis is way more than just evaluating Covenant Logistics Group, prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Covenant Logistics Group, is a good investment. Please check the relationship between Covenant Logistics Net Debt and its Total Current Assets accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Covenant Logistics Group,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Net Debt vs Total Current Assets

Net Debt vs Total Current Assets Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Covenant Logistics Group, Net Debt account and Total Current Assets. At this time, the significance of the direction appears to have fragmental relationship.

The correlation between Covenant Logistics' Net Debt and Total Current Assets is 0.42. Overlapping area represents the amount of variation of Net Debt that can explain the historical movement of Total Current Assets in the same time period over historical financial statements of Covenant Logistics Group,, assuming nothing else is changed. The correlation between historical values of Covenant Logistics' Net Debt and Total Current Assets 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 Debt of Covenant Logistics Group, are associated (or correlated) with its Total Current Assets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Current Assets has no effect on the direction of Net Debt i.e., Covenant Logistics' Net Debt and Total Current Assets go up and down completely randomly.

Correlation Coefficient

0.42

Relationship Direction	Positive
Relationship Strength	Weak

View All Relationships

Net Debt

The total debt of a company minus its cash and cash equivalents. It represents the actual debt burden on the company after accounting for the liquid assets it holds.

Total Current Assets

The total value of all assets that are expected to be converted into cash within one year or during the normal operating cycle.

Most indicators from Covenant Logistics' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Covenant Logistics Group, 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 Covenant Logistics Group,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

At this time, Covenant Logistics' Selling General Administrative is most likely to decrease significantly in the upcoming years. The Covenant Logistics' current Discontinued Operations is estimated to increase to about 708.8 K, while Tax Provision is projected to decrease to roughly 9.2 M.

	2021	2022	2023	2024 (projected)
Gross Profit	147.3M	186.0M	114.1M	179.2M
Total Revenue	1.0B	1.2B	1.1B	711.6M

Gross Profit Total Revenue

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

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Covenant Logistics Account Relationship Matchups

Covenant Logistics fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	881.9M	676.7M	651.7M	796.6M	1.0B	519.8M
Short Long Term Debt Total	348.8M	111.6M	74.3M	179.6M	293.5M	158.5M
Other Current Liab	185K	70.2M	84.5M	79.8M	76.8M	46.6M
Total Current Liabilities	161.3M	133.4M	142.7M	156.1M	170.3M	110.4M
Total Stockholder Equity	350.1M	290.6M	349.7M	377.1M	403.4M	207.8M
Property Plant And Equipment Net	517.2M	391.5M	346.5M	407.7M	514.7M	330.3M
Net Debt	305.2M	103.2M	65.8M	111.0M	291.2M	147.8M
Retained Earnings	209.0M	166.3M	225.1M	329.5M	378.9M	397.9M
Accounts Payable	25.7M	31.7M	29.9M	33.9M	33.2M	34.8M
Cash	43.6M	8.4M	8.4M	68.7M	2.3M	2.2M
Non Current Assets Total	627.3M	528.9M	463.1M	574.0M	818.4M	859.4M
Non Currrent Assets Other	(73.5M)	11.7M	2.1M	4.1M	57.4M	60.3M
Cash And Short Term Investments	43.6M	8.4M	8.4M	68.7M	2.3M	2.2M
Net Receivables	181.7M	109.1M	161.3M	128.4M	153.6M	96.9M
Common Stock Shares Outstanding	18.6M	17.4M	17.0M	15.5M	13.8M	16.6M
Liabilities And Stockholders Equity	881.9M	676.7M	651.7M	796.6M	1.0B	519.8M
Non Current Liabilities Total	370.3M	252.7M	159.2M	263.4M	380.7M	199.6M
Inventory	4.2M	3.1M	3.3M	3.5M	4.8M	3.8M
Other Current Assets	1.1M	27.2M	15.5M	22.1M	25.2M	15.1M
Other Stockholder Equity	141.9M	126.4M	125.7M	46.4M	23.5M	22.3M
Total Liab	531.7M	386.1M	302.0M	419.5M	601.0M	312.0M
Property Plant And Equipment Gross	517.2M	391.5M	518.4M	619.7M	692.5M	350.9M
Total Current Assets	254.4M	147.8M	188.5M	222.7M	185.9M	137.6M
Accumulated Other Comprehensive Income	(1.0M)	(2.3M)	(1.3M)	1.1M	816K	856.8K
Short Term Debt	81.7M	31.5M	28.4M	42.4M	60.4M	36.6M
Intangible Assets	29.6M	24.5M	20.5M	48.2M	99.6M	104.6M
Other Assets	210K	36.1M	9.5M	5.1M	1.2B	1.3B
Other Liab	103.2M	172.6M	113.3M	126.2M	145.1M	127.5M
Net Tangible Assets	278.0M	223.6M	266.3M	270.7M	243.7M	210.2M
Long Term Debt	200.2M	47.9M	20.3M	90.4M	196.9M	105.5M
Long Term Debt Total	186.2M	201.8M	226.2M	47.9M	43.1M	40.9M
Capital Surpluse	142.2M	141.9M	143.4M	149.4M	171.8M	156.2M
Capital Lease Obligations	93.6M	54.9M	48.2M	70.4M	48.9M	55.5M
Long Term Investments	31.9M	34.4M	44.2M	54.7M	66.3M	40.7M
Short Long Term Debt	55.0M	8.8M	5.7M	18.9M	47.7M	29.7M

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When determining whether Covenant Logistics Group, is a strong investment it is important to analyze Covenant Logistics' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Covenant Logistics' future performance. For an informed investment choice regarding Covenant Stock, refer to the following important reports:

How To Invest In Covenant

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Is Covenant Stock a good investment?

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What is Covenant Logistics' Net Worth?

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Covenant Logistics Group,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

You can also try the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.

Is Cargo Ground Transportation space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Covenant Logistics. If investors know Covenant will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Covenant Logistics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.

Quarterly Earnings Growth

(0.05)

Dividend Share

0.44

Earnings Share

2.97

Revenue Per Share

86.188

Quarterly Revenue Growth

(0)

The market value of Covenant Logistics Group, is measured differently than its book value, which is the value of Covenant that is recorded on the company's balance sheet. Investors also form their own opinion of Covenant Logistics' value that differs from its market value or its book value, called intrinsic value, which is Covenant Logistics' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Covenant Logistics' market value can be influenced by many factors that don't directly affect Covenant Logistics' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.

Please note, there is a significant difference between Covenant Logistics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Covenant Logistics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Covenant Logistics' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

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Covenant Net Debt vs Total Current Assets Analysis

Net Debt vs Total Current Assets

Net Debt vs Total Current Assets Correlation Analysis

Correlation Coefficient

Net Debt

Total Current Assets

Covenant Logistics fundamental ratios Correlations

Covenant Logistics Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Covenant Logistics fundamental ratios Accounts

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COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Cash And Short Term Investments	+ 1.0	Cash
Common Stock	+ 1.0	Common Stock Total Equity
Net Debt	+ 0.98	Short Long Term Debt Total
Total Liab	+ 0.96	Non Current Liabilities Total
Property Plant And Equipment Gross	+ 0.95	Total Assets
Non Current Liabilities Total	+ 0.95	Property Plant And Equipment Net

Other Stockholder Equity	- 0.75	Non Currrent Assets Other
Intangible Assets	- 0.54	Other Stockholder Equity
Common Stock Shares Outstanding	- 0.49	Non Currrent Assets Other
Cash And Short Term Investments	- 0.42	Non Currrent Assets Other
Non Currrent Assets Other	- 0.42	Cash
Other Stockholder Equity	- 0.4	Retained Earnings