Elanco Retained Earnings vs Inventory Analysis

ELAN Stock

USD 13.40 0.04 0.30%

Elanco Animal financial indicator trend analysis is much more than just examining Elanco Animal Health latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Elanco Animal Health is a good investment. Please check the relationship between Elanco Animal Retained Earnings and its Inventory accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elanco Animal Health. 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.

Retained Earnings vs Inventory

Retained Earnings vs Inventory Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Elanco Animal Health Retained Earnings account and Inventory. At this time, the significance of the direction appears to have pay attention.

The correlation between Elanco Animal's Retained Earnings and Inventory is -0.85. Overlapping area represents the amount of variation of Retained Earnings that can explain the historical movement of Inventory in the same time period over historical financial statements of Elanco Animal Health, assuming nothing else is changed. The correlation between historical values of Elanco Animal's Retained Earnings and 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 Retained Earnings of Elanco Animal Health are associated (or correlated) with its Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Inventory has no effect on the direction of Retained Earnings i.e., Elanco Animal's Retained Earnings and Inventory go up and down completely randomly.

Correlation Coefficient

-0.85

Relationship Direction	Negative
Relationship Strength	Significant

View All Relationships

Retained Earnings

The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.

Inventory

Most indicators from Elanco Animal's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Elanco Animal Health 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 Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elanco Animal Health. 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.

Issuance Of Capital Stock is expected to grow at the current pace this year, while Tax Provision is likely to drop (13.7 M).

	2021	2022	2023	2024 (projected)
Gross Profit	2.6B	2.5B	2.5B	2.0B
Total Revenue	4.8B	4.4B	4.4B	3.9B

Gross Profit Total Revenue

Elanco Animal fundamental ratios Correlations

	Common Stock Shares Outstanding	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Net Tangible Assets	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Other Assets	Cash And Short Term Investments	Net Receivables	Good Will	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Long Term Investments	Property Plant And Equipment Gross	Total Current Assets
Common Stock Shares Outstanding		0.91	0.96	0.82	0.35	0.88	-0.89	0.7	0.89	-0.74	0.77	0.55	0.9	0.94	-0.02	0.55	0.89	0.92	0.9	0.91	0.9	0.76	0.89	0.78	0.94	0.89
Total Assets	0.91		0.98	0.98	0.42	0.95	-0.97	0.89	0.96	-0.81	0.93	0.76	1.0	0.9	-0.23	0.76	0.94	1.0	0.97	0.93	0.81	0.66	0.97	0.83	0.9	0.96
Other Current Liab	0.96	0.98		0.93	0.38	0.95	-0.95	0.85	0.96	-0.8	0.88	0.66	0.98	0.92	-0.16	0.66	0.94	0.98	0.96	0.96	0.86	0.71	0.97	0.84	0.92	0.96
Total Current Liabilities	0.82	0.98	0.93		0.37	0.89	-0.96	0.91	0.94	-0.82	0.95	0.78	0.97	0.81	-0.36	0.78	0.93	0.97	0.95	0.88	0.74	0.53	0.96	0.81	0.82	0.94
Total Stockholder Equity	0.35	0.42	0.38	0.37		0.55	-0.21	0.3	0.14	0.14	0.59	0.13	0.46	0.62	0.54	0.13	0.17	0.4	0.17	0.23	0.45	0.78	0.2	-0.08	0.18	0.19
Other Liab	0.88	0.95	0.95	0.89	0.55		-0.87	0.79	0.86	-0.63	0.9	0.65	0.96	0.91	0.0	0.65	0.82	0.93	0.88	0.88	0.84	0.8	0.89	0.68	0.83	0.87
Net Tangible Assets	-0.89	-0.97	-0.95	-0.96	-0.21	-0.87		-0.89	-0.99	0.92	-0.86	-0.8	-0.96	-0.81	0.41	-0.8	-0.97	-0.97	-0.99	-0.93	-0.76	-0.52	-0.99	-0.88	-0.92	-0.99
Property Plant And Equipment Net	0.7	0.89	0.85	0.91	0.3	0.79	-0.89		0.88	-0.83	0.82	0.79	0.88	0.68	-0.49	0.79	0.89	0.87	0.88	0.87	0.49	0.4	0.89	0.84	0.73	0.9
Net Debt	0.89	0.96	0.96	0.94	0.14	0.86	-0.99	0.88		-0.92	0.83	0.77	0.94	0.8	-0.4	0.77	0.98	0.96	1.0	0.94	0.76	0.49	1.0	0.93	0.93	0.99
Retained Earnings	-0.74	-0.81	-0.8	-0.82	0.14	-0.63	0.92	-0.83	-0.92		-0.63	-0.75	-0.77	-0.56	0.67	-0.75	-0.92	-0.81	-0.91	-0.85	-0.53	-0.2	-0.9	-0.92	-0.82	-0.92
Accounts Payable	0.77	0.93	0.88	0.95	0.59	0.9	-0.86	0.82	0.83	-0.63		0.69	0.95	0.85	-0.16	0.69	0.83	0.92	0.84	0.75	0.75	0.64	0.86	0.63	0.72	0.82
Cash	0.55	0.76	0.66	0.78	0.13	0.65	-0.8	0.79	0.77	-0.75	0.69		0.75	0.53	-0.5	1.0	0.73	0.75	0.78	0.62	0.4	0.22	0.78	0.68	0.74	0.76
Non Current Assets Total	0.9	1.0	0.98	0.97	0.46	0.96	-0.96	0.88	0.94	-0.77	0.95	0.75		0.91	-0.19	0.75	0.93	0.99	0.95	0.91	0.82	0.68	0.96	0.8	0.89	0.95
Non Currrent Assets Other	0.94	0.9	0.92	0.81	0.62	0.91	-0.81	0.68	0.8	-0.56	0.85	0.53	0.91		0.18	0.53	0.79	0.91	0.81	0.82	0.9	0.87	0.82	0.65	0.85	0.8
Other Assets	-0.02	-0.23	-0.16	-0.36	0.54	0.0	0.41	-0.49	-0.4	0.67	-0.16	-0.5	-0.19	0.18		-0.5	-0.44	-0.21	-0.38	-0.26	0.2	0.52	-0.38	-0.5	-0.17	-0.38
Cash And Short Term Investments	0.55	0.76	0.66	0.78	0.13	0.65	-0.8	0.79	0.77	-0.75	0.69	1.0	0.75	0.53	-0.5		0.73	0.75	0.78	0.62	0.4	0.22	0.78	0.68	0.74	0.76
Net Receivables	0.89	0.94	0.94	0.93	0.17	0.82	-0.97	0.89	0.98	-0.92	0.83	0.73	0.93	0.79	-0.44	0.73		0.94	0.97	0.92	0.7	0.46	0.97	0.93	0.88	0.96
Good Will	0.92	1.0	0.98	0.97	0.4	0.93	-0.97	0.87	0.96	-0.81	0.92	0.75	0.99	0.91	-0.21	0.75	0.94		0.97	0.93	0.84	0.66	0.98	0.83	0.92	0.96
Non Current Liabilities Total	0.9	0.97	0.96	0.95	0.17	0.88	-0.99	0.88	1.0	-0.91	0.84	0.78	0.95	0.81	-0.38	0.78	0.97	0.97		0.95	0.77	0.52	1.0	0.92	0.93	0.99
Inventory	0.91	0.93	0.96	0.88	0.23	0.88	-0.93	0.87	0.94	-0.85	0.75	0.62	0.91	0.82	-0.26	0.62	0.92	0.93	0.95		0.76	0.62	0.94	0.89	0.89	0.97
Other Current Assets	0.9	0.81	0.86	0.74	0.45	0.84	-0.76	0.49	0.76	-0.53	0.75	0.4	0.82	0.9	0.2	0.4	0.7	0.84	0.77	0.76		0.83	0.77	0.54	0.82	0.75
Other Stockholder Equity	0.76	0.66	0.71	0.53	0.78	0.8	-0.52	0.4	0.49	-0.2	0.64	0.22	0.68	0.87	0.52	0.22	0.46	0.66	0.52	0.62	0.83		0.52	0.27	0.61	0.53
Total Liab	0.89	0.97	0.97	0.96	0.2	0.89	-0.99	0.89	1.0	-0.9	0.86	0.78	0.96	0.82	-0.38	0.78	0.97	0.98	1.0	0.94	0.77	0.52		0.91	0.92	0.99
Long Term Investments	0.78	0.83	0.84	0.81	-0.08	0.68	-0.88	0.84	0.93	-0.92	0.63	0.68	0.8	0.65	-0.5	0.68	0.93	0.83	0.92	0.89	0.54	0.27	0.91		0.85	0.91
Property Plant And Equipment Gross	0.94	0.9	0.92	0.82	0.18	0.83	-0.92	0.73	0.93	-0.82	0.72	0.74	0.89	0.85	-0.17	0.74	0.88	0.92	0.93	0.89	0.82	0.61	0.92	0.85		0.92
Total Current Assets	0.89	0.96	0.96	0.94	0.19	0.87	-0.99	0.9	0.99	-0.92	0.82	0.76	0.95	0.8	-0.38	0.76	0.96	0.96	0.99	0.97	0.75	0.53	0.99	0.91	0.92

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Elanco Animal Account Relationship Matchups

Elanco Animal fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Common Stock Shares Outstanding	370.3M	441.4M	487.2M	488.3M	492.3M	447.6M
Total Assets	9.0B	17.7B	16.5B	15.5B	14.4B	13.6B
Other Current Liab	455.4M	983.8M	903M	924M	933M	740.8M
Total Current Liabilities	818.5M	2.1B	1.6B	1.7B	1.2B	1.3B
Total Stockholder Equity	5.5B	8.5B	7.5B	7.3B	6.2B	7.6B
Other Liab	228.2M	1.3B	1.2B	941M	1.1B	780.6M
Net Tangible Assets	74.5M	(4.1B)	(4.3B)	(3.5B)	(3.2B)	(3.0B)
Property Plant And Equipment Net	955.3M	1.3B	1.1B	999M	1.0B	1.1B
Net Debt	2.0B	5.6B	5.7B	5.5B	5.4B	3.5B
Retained Earnings	84.3M	(477.2M)	(949M)	(1.1B)	(2.3B)	(2.2B)
Accounts Payable	222.6M	501M	416M	390M	270M	335.1M
Cash	334M	494.7M	638M	345M	352M	442.8M
Non Current Assets Total	6.6B	14.3B	13.2B	12.2B	11.0B	10.5B
Non Currrent Assets Other	185M	347.8M	387M	378M	315M	297.3M
Other Assets	78.9M	127.3M	183M	193M	173.7M	123.4M
Cash And Short Term Investments	334M	494.7M	638M	345M	352M	442.8M
Net Receivables	889.9M	1.1B	1.0B	1.0B	1.0B	955.4M
Good Will	3.0B	6.2B	6.2B	6.0B	5.1B	4.8B
Liabilities And Stockholders Equity	9.0B	17.7B	16.5B	15.5B	14.4B	13.6B
Non Current Liabilities Total	2.6B	7.1B	7.3B	6.5B	6.9B	4.7B
Inventory	1.1B	1.6B	1.4B	1.5B	1.7B	1.4B
Other Current Assets	87.4M	267M	325M	394M	310M	249.7M
Other Stockholder Equity	5.6B	8.7B	8.7B	8.7B	8.8B	8.4B
Total Liab	3.4B	9.2B	8.9B	8.2B	8.1B	6.0B
Property Plant And Equipment Gross	955.3M	1.3B	2.1B	1.7B	1.8B	1.4B
Total Current Assets	2.4B	3.4B	3.3B	3.3B	3.4B	3.1B
Accumulated Other Comprehensive Income	(173.7M)	303M	(209M)	(392M)	(266M)	(279.3M)
Non Current Liabilities Other	106.6M	322.1M	261M	229M	411M	232.2M
Intangible Assets	2.5B	6.4B	5.6B	4.8B	4.5B	4.3B
Property Plant Equipment	1.0B	1.3B	1.2B	999M	1.1B	1.1B
Net Invested Capital	7.9B	14.6B	13.9B	13.1B	12.0B	12.1B
Net Working Capital	1.6B	1.3B	1.6B	1.6B	2.2B	1.8B
Short Long Term Debt Total	2.4B	6.1B	6.3B	5.8B	5.8B	5.3B
Current Deferred Revenue	116M	148.6M	185M	524M	602.6M	632.7M
Long Term Debt	2.3B	5.6B	6.0B	5.4B	5.7B	5.1B
Retained Earnings Total Equity	84.3M	(477.2M)	(949M)	(1.1B)	(951.3M)	(903.7M)
Capital Surpluse	5.6B	8.7B	8.7B	8.7B	10.0B	8.2B
Short Long Term Debt	24.5M	554.5M	294M	388M	38M	36.1M
Short Term Debt	24.5M	591.5M	328M	388M	38M	36.1M

Pair Trading with Elanco Animal

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

Moving against Elanco Stock

0.75	EWTX	Edgewise Therapeutics	Pair Corr
0.67	KTTAW	Pasithea Therapeutics	Pair Corr
0.59	GILD	Gilead Sciences	Pair Corr
0.56	VRDN	Viridian Therapeutics	Pair Corr
0.49	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr

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

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

When determining whether Elanco Animal Health offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Elanco Animal's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Elanco Animal Health Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Elanco Animal Health Stock:

How To Invest In Elanco

Details

Is Elanco Stock a good investment?

Details

What is Elanco Animal's Net Worth?

Details

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elanco Animal Health. 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.

You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.

Is Pharmaceuticals 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 Elanco Animal. If investors know Elanco 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 Elanco Animal 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

(0.71)

Earnings Share

0.41

Revenue Per Share

9.023

Quarterly Revenue Growth

(0.04)

Return On Assets

0.0118

The market value of Elanco Animal Health is measured differently than its book value, which is the value of Elanco that is recorded on the company's balance sheet. Investors also form their own opinion of Elanco Animal's value that differs from its market value or its book value, called intrinsic value, which is Elanco Animal's 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 Elanco Animal's market value can be influenced by many factors that don't directly affect Elanco Animal's 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 Elanco Animal's value and its price as these two are different measures arrived at by different means. Investors typically determine if Elanco Animal is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Elanco Animal's 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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Elanco Retained Earnings vs Inventory Analysis

Retained Earnings vs Inventory

Retained Earnings vs Inventory Correlation Analysis

Correlation Coefficient

Retained Earnings

Inventory

Elanco Animal fundamental ratios Correlations

Elanco Animal Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Elanco Animal fundamental ratios Accounts

Pair Trading with Elanco Animal

Moving against Elanco Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Non Current Assets Total	+ 1.0	Total Assets
Good Will	+ 1.0	Total Assets
Non Current Liabilities Total	+ 1.0	Net Debt
Total Liab	+ 1.0	Net Debt
Cash And Short Term Investments	+ 1.0	Cash
Total Liab	+ 1.0	Non Current Liabilities Total

Total Current Assets	- 0.99	Net Tangible Assets
Total Liab	- 0.99	Net Tangible Assets
Non Current Liabilities Total	- 0.99	Net Tangible Assets
Net Debt	- 0.99	Net Tangible Assets
Good Will	- 0.97	Net Tangible Assets
Net Receivables	- 0.97	Net Tangible Assets