Highway Other Operating Expenses vs Net Income Analysis
| HIHO Stock | USD 1.93 0.01 0.52% |
Highway Holdings financial indicator trend analysis is much more than just examining Highway Holdings latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Highway Holdings is a good investment. Please check the relationship between Highway Holdings Other Operating Expenses and its Net Income accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Highway Holdings Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.
Other Operating Expenses vs Net Income
Other Operating Expenses vs Net Income Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Highway Holdings Other Operating Expenses account and Net Income. At this time, the significance of the direction appears to have strong relationship.
The correlation between Highway Holdings' Other Operating Expenses and Net Income is 0.64. Overlapping area represents the amount of variation of Other Operating Expenses that can explain the historical movement of Net Income in the same time period over historical financial statements of Highway Holdings Limited, assuming nothing else is changed. The correlation between historical values of Highway Holdings' Other Operating Expenses and Net Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Other Operating Expenses of Highway Holdings Limited are associated (or correlated) with its Net Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Income has no effect on the direction of Other Operating Expenses i.e., Highway Holdings' Other Operating Expenses and Net Income go up and down completely randomly.
Correlation Coefficient | 0.64 |
| Relationship Direction | Positive |
| Relationship Strength | Significant |
Other Operating Expenses
Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Highway Holdings. It is also known as Highway Holdings overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.Net Income
Net income is one of the most important fundamental items in finance. It plays a large role in Highway Holdings financial statement analysis. It represents the amount of money remaining after all of Highway Holdings Limited operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.Most indicators from Highway Holdings' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Highway Holdings 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Highway Holdings Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate. At this time, Highway Holdings' Selling General Administrative is very stable compared to the past year. As of the 22nd of November 2024, Enterprise Value is likely to grow to about 6.5 M, though Tax Provision is likely to grow to (152.9 K).
| 2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 3.8M | 3.1M | 1.7M | 1.6M | Total Revenue | 12.4M | 10.2M | 6.3M | 6.0M |
Highway Holdings fundamental ratios Correlations
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Highway Holdings Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Highway Holdings fundamental ratios Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Total Assets | 18.2M | 15.5M | 14.9M | 13.9M | 11.3M | 13.6M | |
| Other Current Liab | 3.2M | 1.6M | 1.9M | 2.0M | 1.8M | 1.3M | |
| Total Current Liabilities | 5.0M | 4.0M | 5.2M | 4.1M | 3.8M | 5.6M | |
| Total Stockholder Equity | 10.9M | 9.8M | 9.3M | 8.2M | 6.6M | 9.1M | |
| Property Plant And Equipment Net | 4.6M | 3.6M | 2.4M | 2.9M | 1.4M | 2.4M | |
| Net Debt | (6.0M) | (5.8M) | (4.8M) | (4.9M) | (5.2M) | (5.5M) | |
| Retained Earnings | (865K) | (2.0M) | (2.3M) | (3.4M) | (5.0M) | (4.8M) | |
| Accounts Payable | 997K | 653K | 828K | 928K | 935K | 1.6M | |
| Non Current Assets Total | 4.9M | 4.0M | 2.5M | 3.2M | 1.7M | 2.7M | |
| Net Receivables | 2.0M | 973K | 2.3M | 1.9M | 1.3M | 2.5M | |
| Common Stock Shares Outstanding | 3.9M | 4.0M | 4.2M | 4.1M | 4.4M | 3.9M | |
| Liabilities And Stockholders Equity | 18.2M | 15.5M | 14.9M | 13.9M | 11.3M | 13.6M | |
| Non Current Liabilities Total | 2.3M | 1.7M | 408K | 1.6M | 843K | 612.9K | |
| Inventory | 2M | 2.2M | 2.4M | 1.4M | 1.6M | 2.8M | |
| Other Current Assets | 11K | 513K | 620K | 406K | 226K | 214.7K | |
| Other Stockholder Equity | 11.5M | 11.7M | 11.8M | 12.0M | 12.1M | 12.1M | |
| Total Liab | 7.3M | 5.7M | 5.6M | 5.7M | 4.7M | 6.2M | |
| Total Current Assets | 13.2M | 11.5M | 12.3M | 10.7M | 9.6M | 15.1M | |
| Short Term Debt | 782K | 1.6M | 1.9M | 573K | 588K | 558.6K | |
| Non Currrent Assets Other | 358K | 377K | 95K | 308K | 202K | 167.8K | |
| Other Assets | 358K | 377K | 95K | 308K | 277.2K | 270.2K | |
| Short Term Investments | 2.0M | 108K | 3K | 1.1M | 54K | 2.9K | |
| Accumulated Other Comprehensive Income | 196K | 48K | (303K) | (444K) | (501K) | (526.1K) | |
| Property Plant Equipment | 4.6M | 3.6M | 2.4M | 2.9M | 2.6M | 2.2M | |
| Property Plant And Equipment Gross | 4.6M | 3.6M | 2.4M | 2.9M | 13.5M | 14.1M | |
| Other Liab | 229K | 607K | 140K | 124K | 142.6K | 143.4K | |
| Net Tangible Assets | 10.1M | 10.9M | 9.8M | 9.3M | 8.3M | 8.8M | |
| Net Invested Capital | 10.9M | 9.8M | 9.3M | 8.2M | 6.6M | 7.6M | |
| Net Working Capital | 8.2M | 7.5M | 7.1M | 6.6M | 5.8M | 6.2M |
Pair Trading with Highway Holdings
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 Highway Holdings 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 Highway Holdings will appreciate offsetting losses from the drop in the long position's value.Moving against Highway Stock
The ability to find closely correlated positions to Highway Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Highway Holdings 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 Highway Holdings - 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 Highway Holdings Limited to buy it.
The correlation of Highway Holdings 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 Highway Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Highway Holdings 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 Highway Holdings 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.Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Highway Holdings Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate. You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Is Industrial Machinery & Supplies & Components 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 Highway Holdings. If investors know Highway 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 Highway Holdings listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Dividend Share 0.07 | Earnings Share (0.11) | Revenue Per Share 1.742 | Quarterly Revenue Growth 0.601 | Return On Assets (0.02) |
The market value of Highway Holdings is measured differently than its book value, which is the value of Highway that is recorded on the company's balance sheet. Investors also form their own opinion of Highway Holdings' value that differs from its market value or its book value, called intrinsic value, which is Highway Holdings' 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 Highway Holdings' market value can be influenced by many factors that don't directly affect Highway Holdings' 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 Highway Holdings' value and its price as these two are different measures arrived at by different means. Investors typically determine if Highway Holdings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Highway Holdings' 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.