Electrovaya Cash Per Share vs Capex To Depreciation Analysis

ELVA Stock   3.33  0.05  1.52%   
Electrovaya financial indicator trend analysis is much more than just examining Electrovaya latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Electrovaya is a good investment. Please check the relationship between Electrovaya Cash Per Share and its Capex To Depreciation accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Electrovaya. 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.

Cash Per Share vs Capex To Depreciation

Cash Per Share vs Capex To Depreciation Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Electrovaya Cash Per Share account and Capex To Depreciation. At this time, the significance of the direction appears to have strong relationship.
Cash Per ShareCapex To DepreciationDiversified AwayCash Per ShareCapex To DepreciationDiversified Away100%
The correlation between Electrovaya's Cash Per Share and Capex To Depreciation is 0.65. Overlapping area represents the amount of variation of Cash Per Share that can explain the historical movement of Capex To Depreciation in the same time period over historical financial statements of Electrovaya, assuming nothing else is changed. The correlation between historical values of Electrovaya's Cash Per Share and Capex To Depreciation is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cash Per Share of Electrovaya are associated (or correlated) with its Capex To Depreciation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Capex To Depreciation has no effect on the direction of Cash Per Share i.e., Electrovaya's Cash Per Share and Capex To Depreciation go up and down completely randomly.

Correlation Coefficient

0.65
Relationship DirectionPositive 
Relationship StrengthSignificant

Cash Per Share

Capex To Depreciation

The ratio of a company's capital expenditures to its depreciation expenses, indicating how much the company is investing in physical assets relative to the aging of existing assets.
Most indicators from Electrovaya's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Electrovaya 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 Electrovaya. 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, Electrovaya's Sales General And Administrative To Revenue is very stable compared to the past year. As of the 25th of February 2025, Enterprise Value Over EBITDA is likely to grow to 32.08, while Selling General Administrative is likely to drop about 3.1 M.
 2021 2022 2024 2025 (projected)
Total Revenue19.2M43.4M49.9M52.4M
Depreciation And Amortization503K907K816.3K685.3K

Electrovaya fundamental ratios Correlations

0.110.730.570.70.46-0.30.77-0.080.66-0.080.790.520.810.670.260.740.940.060.12-0.410.250.440.0-0.390.46
0.110.3-0.290.120.37-0.490.29-0.390.25-0.39-0.070.080.27-0.04-0.030.350.020.330.16-0.760.280.32-0.26-0.770.28
0.730.3-0.040.210.84-0.730.67-0.540.27-0.540.770.810.690.80.660.960.76-0.340.18-0.530.160.74-0.06-0.510.86
0.57-0.29-0.040.65-0.410.460.310.450.360.450.440.030.360.24-0.27-0.10.540.19-0.420.09-0.23-0.440.240.11-0.37
0.70.120.210.650.010.070.460.140.780.140.410.040.440.2-0.20.260.540.41-0.02-0.370.220.070.31-0.37-0.01
0.460.370.84-0.410.01-0.810.39-0.680.31-0.680.540.680.370.630.680.920.41-0.230.5-0.530.50.93-0.23-0.520.89
-0.3-0.49-0.730.460.07-0.81-0.210.64-0.080.64-0.45-0.73-0.24-0.58-0.73-0.73-0.340.41-0.110.7-0.21-0.770.10.7-0.84
0.770.290.670.310.460.39-0.21-0.230.4-0.230.440.250.980.340.020.660.780.180.19-0.330.160.34-0.31-0.320.38
-0.08-0.39-0.540.450.14-0.680.64-0.23-0.041.0-0.31-0.49-0.14-0.43-0.46-0.5-0.070.25-0.050.46-0.03-0.50.110.45-0.58
0.660.250.270.360.780.31-0.080.4-0.04-0.040.310.010.350.17-0.150.430.380.60.43-0.420.610.390.14-0.430.18
-0.08-0.39-0.540.450.14-0.680.64-0.231.0-0.04-0.31-0.49-0.14-0.43-0.46-0.5-0.070.25-0.050.46-0.03-0.50.110.45-0.58
0.79-0.070.770.440.410.54-0.450.44-0.310.31-0.310.860.490.960.620.690.81-0.42-0.2-0.37-0.040.40.2-0.340.56
0.520.080.810.030.040.68-0.730.25-0.490.01-0.490.860.330.950.840.710.61-0.69-0.19-0.43-0.070.530.11-0.40.71
0.810.270.690.360.440.37-0.240.98-0.140.35-0.140.490.330.40.090.660.850.090.14-0.310.120.34-0.32-0.30.41
0.67-0.040.80.240.20.63-0.580.34-0.430.17-0.430.960.950.40.790.710.73-0.59-0.17-0.34-0.040.490.13-0.310.65
0.26-0.030.66-0.27-0.20.68-0.730.02-0.46-0.15-0.460.620.840.090.790.590.38-0.810.01-0.15-0.020.620.05-0.140.77
0.740.350.96-0.10.260.92-0.730.66-0.50.43-0.50.690.710.660.710.590.7-0.170.41-0.570.440.85-0.17-0.550.85
0.940.020.760.540.540.41-0.340.78-0.070.38-0.070.810.610.850.730.380.7-0.18-0.04-0.310.040.38-0.06-0.290.5
0.060.33-0.340.190.41-0.230.410.180.250.60.25-0.42-0.690.09-0.59-0.81-0.17-0.180.37-0.180.47-0.14-0.18-0.2-0.41
0.120.160.18-0.42-0.020.5-0.110.19-0.050.43-0.05-0.2-0.190.14-0.170.010.41-0.040.370.030.830.62-0.390.030.32
-0.41-0.76-0.530.09-0.37-0.530.7-0.330.46-0.420.46-0.37-0.43-0.31-0.34-0.15-0.57-0.31-0.180.03-0.29-0.450.01.0-0.43
0.250.280.16-0.230.220.5-0.210.16-0.030.61-0.03-0.04-0.070.12-0.04-0.020.440.040.470.83-0.290.59-0.39-0.30.23
0.440.320.74-0.440.070.93-0.770.34-0.50.39-0.50.40.530.340.490.620.850.38-0.140.62-0.450.59-0.24-0.450.91
0.0-0.26-0.060.240.31-0.230.1-0.310.110.140.110.20.11-0.320.130.05-0.17-0.06-0.18-0.390.0-0.39-0.240.01-0.12
-0.39-0.77-0.510.11-0.37-0.520.7-0.320.45-0.430.45-0.34-0.4-0.3-0.31-0.14-0.55-0.29-0.20.031.0-0.3-0.450.01-0.43
0.460.280.86-0.37-0.010.89-0.840.38-0.580.18-0.580.560.710.410.650.770.850.5-0.410.32-0.430.230.91-0.12-0.43
Click cells to compare fundamentals

Electrovaya Account Relationship Matchups

Electrovaya fundamental ratios Accounts

202020212022202320242025 (projected)
Total Assets10.6M15.0M18.1M36.5M32.9M34.5M
Total Current Liabilities16.5M13.5M21.4M26.6M30.6M32.1M
Total Stockholder Equity(8.7M)(1.7M)(5.9M)7.1M6.4M8.4M
Property Plant And Equipment Net2.5M2.9M2.3M10.1M9.1M5.4M
Net Debt11.7M7.3M18.5M18.0M20.7M21.7M
Retained Earnings(119.5M)(127.1M)(133.7M)(130.5M)(117.4M)(111.5M)
Accounts Payable2.2M1.7M3.1M6.0M7.0M7.3M
Cash1.1M4.2M626K1.0M928.8K882.4K
Non Current Assets Total2.6M2.9M2.4M10.6M9.5M5.9M
Cash And Short Term Investments1.1M4.2M626K1.0M928.8K882.4K
Net Receivables2.5M1.3M6.7M10.6M12.2M12.8M
Common Stock Shares Outstanding23.9M28.0M29.3M33.8M38.9M40.9M
Liabilities And Stockholders Equity10.6M15.0M18.1M36.5M32.9M34.5M
Inventory2.0M4.7M4.5M8.3M9.5M10.0M
Other Current Assets2.4M1.8M3.9M6.0M6.9M7.2M
Other Stockholder Equity11.3M9.6M11.0M14.0M12.6M11.9M
Total Liab19.4M16.7M24M29.4M33.8M35.5M
Total Current Assets8.1M12.0M15.7M25.9M23.3M24.5M
Accumulated Other Comprehensive Income13.4M13.3M13.5M8.6M9.9M7.8M
Non Current Liabilities Total2.9M3.2M2.6M2.8M3.2M3.7M
Short Long Term Debt Total12.8M11.5M19.1M19.0M21.9M12.1M
Current Deferred Revenue2.1M1.0M70K2.4M2.1M1.2M
Short Term Debt10.1M8.8M16.9M16.7M19.2M10.6M
Common Stock86.1M102.5M103.3M115.0M132.3M91.2M

Pair Trading with Electrovaya

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 Electrovaya 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 Electrovaya will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Electrovaya could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Electrovaya 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 Electrovaya - 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 Electrovaya to buy it.
The correlation of Electrovaya 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 Electrovaya moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Electrovaya 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 Electrovaya 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 CorrelationCorrelation Matching

Other Information on Investing in Electrovaya Stock

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

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