ELF Total Assets vs Non Current Assets Total Analysis
| ELF Stock | CAD 1,475 25.00 1.67% |
E L financial indicator trend analysis is much more than just examining E L Financial latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether E L Financial is a good investment. Please check the relationship between E L Total Assets and its Non Current Assets Total accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in E L Financial Corp. 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.
Total Assets vs Non Current Assets Total
Total Assets vs Non Current Assets Total Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of E L Financial Total Assets account and Non Current Assets Total. At this time, the significance of the direction appears to have very week relationship.
The correlation between E L's Total Assets and Non Current Assets Total is 0.22. Overlapping area represents the amount of variation of Total Assets that can explain the historical movement of Non Current Assets Total in the same time period over historical financial statements of E L Financial Corp, assuming nothing else is changed. The correlation between historical values of E L's Total Assets and Non Current Assets Total is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Total Assets of E L Financial Corp are associated (or correlated) with its Non Current Assets Total. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Non Current Assets Total has no effect on the direction of Total Assets i.e., E L's Total Assets and Non Current Assets Total go up and down completely randomly.
Correlation Coefficient | 0.22 |
| Relationship Direction | Positive |
| Relationship Strength | Very Weak |
Total Assets
Total assets refers to the total amount of E L assets owned. Assets are items that have some economic value and are expended over time to create a benefit for the owner. These assets are usually recorded in E L Financial books under different categories such as cash, marketable securities, accounts receivable,prepaid expenses, inventory, fixed assets, intangible assets, other assets, marketable securities, accounts receivable, prepaid expenses and others. The total value of all owned resources that are expected to provide future economic benefits to the business, including cash, investments, accounts receivable, inventory, property, plant, equipment, and intangible assets.Non Current Assets Total
The total value of a company's long-term assets, which are not expected to be converted into cash or used up within one year or the operating cycle, including property, plant, and equipment, and intangible assets.Most indicators from E L's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into E L Financial 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 E L Financial Corp. 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, E L's Selling General Administrative is very stable compared to the past year. As of the 26th of November 2024, Enterprise Value Over EBITDA is likely to grow to 7.07, while Discontinued Operations is likely to drop about 248.9 M.
E L fundamental ratios Correlations
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E L Account Relationship Matchups
High Positive Relationship
High Negative Relationship
E L fundamental ratios Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Total Assets | 23.7B | 24.9B | 26.8B | 23.5B | 25.5B | 13.4B | |
| Short Long Term Debt Total | 464.1M | 602.3M | 602.2M | 702.9M | 733.4M | 419.8M | |
| Other Current Liab | (170.0M) | (179.5M) | (189.1M) | (254.8M) | (244.6M) | (232.3M) | |
| Total Current Liabilities | 170.0M | 179.5M | 189.1M | 254.8M | (160.7M) | (152.6M) | |
| Total Stockholder Equity | 6.3B | 6.5B | 7.3B | 6.7B | 7.1B | 7.5B | |
| Property Plant And Equipment Net | 25.2M | 21.0M | 16.8M | 14.7M | 13.9M | 24.5M | |
| Net Debt | 161.0M | 174.5M | (33.9M) | 400.0M | 292.5M | 307.1M | |
| Retained Earnings | 5.9B | 6.1B | 6.9B | 6.4B | 6.7B | 7.1B | |
| Non Current Assets Total | 397.5M | 315.6M | 16.5B | 14.1B | 25.0B | 26.2B | |
| Non Currrent Assets Other | (397.5M) | (315.6M) | (16.5B) | (89.6M) | 17.8B | 18.6B | |
| Other Assets | 23.0B | 24.1B | 7.6B | 7.2B | 8.2B | 11.1B | |
| Net Receivables | 55.5M | 88.1M | 67.3M | 150.9M | 748K | 710.6K | |
| Common Stock Shares Outstanding | 4.3M | 4.2M | 4.1M | 3.6M | 3.8M | 4.4M | |
| Liabilities And Stockholders Equity | 23.7B | 24.9B | 26.8B | 23.5B | 25.5B | 13.2B | |
| Other Stockholder Equity | 40.1M | 44.1M | 58.2M | 56.1M | (300.0M) | (285.0M) | |
| Total Liab | 16.4B | 17.3B | 18.2B | 15.8B | 17.2B | 9.6B | |
| Property Plant And Equipment Gross | 29.9M | 27.4M | 25.2M | 21.0M | 24.2M | 25.8M | |
| Total Current Assets | 358.6M | 515.8M | 2.7B | 2.2B | 494.7M | 470.0M | |
| Accumulated Other Comprehensive Income | 24.2M | 56.4M | 37.9M | (117.4M) | 22.8M | 20.5M | |
| Other Current Assets | 396.8M | 595.0M | 747.8M | 506.9M | 494.7M | 470.0M | |
| Intangible Assets | 22.4M | 28.0M | 28.5M | 60.6M | 61.5M | 64.6M | |
| Cash | 303.1M | 427.8M | 636.1M | 302.9M | 440.9M | 399.6M | |
| Cash And Short Term Investments | 303.1M | 427.8M | 2.6B | 2.0B | 445.8M | 784.9M | |
| Short Term Investments | 14.4B | 15.5B | 2.0B | 1.7B | 5.0M | 4.7M | |
| Non Current Liabilities Total | 732.6M | 923.9M | 975.9M | 254.8M | 17.4B | 18.2B | |
| Accounts Payable | 170.0M | 179.5M | 189.1M | 254.8M | 83.9M | 147.3M | |
| Other Liab | 15.0B | 16.2B | 17.2B | 14.7B | 16.9B | 15.4B | |
| Net Tangible Assets | 6.0B | 6.2B | 7.0B | 6.3B | 7.3B | 5.8B | |
| Long Term Debt | 464.1M | 602.3M | 602.2M | 702.9M | 733.4M | 598.7M | |
| Long Term Investments | 349.9M | 266.6M | 16.4B | 14.0B | 15.8B | 16.6B | |
| Property Plant Equipment | 25.2M | 21.0M | 16.8M | 14.7M | 13.2M | 20.3M | |
| Long Term Debt Total | 488.8M | 464.1M | 602.3M | 602.2M | 692.5M | 589.8M | |
| Inventory | (396.8M) | (595.0M) | (747.8M) | (506.9M) | (446.6M) | (468.9M) | |
| Cash And Equivalents | 279.2M | 211.6M | 154.2M | 130.7M | 117.6M | 193.9M | |
| Net Invested Capital | 6.5B | 6.8B | 7.6B | 7.1B | 7.6B | 7.5B |
Pair Trading with E L
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 E L 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 E L will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to E L could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace E L 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 E L - 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 E L Financial Corp to buy it.
The correlation of E L 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 E L moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if E L Financial 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 E L 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.Other Information on Investing in ELF Stock
Balance Sheet is a snapshot of the financial position of E L Financial at a specified time, usually calculated after every quarter, six months, or one year. E L Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of E L 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 ELF currently owns. An asset can also be divided into two categories, current and non-current.