Helmerich Total Current Assets vs Accounts Payable Analysis

HP Stock  USD 34.43  0.70  2.08%   
Helmerich financial indicator trend analysis is much more than just examining Helmerich and Payne latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Helmerich and Payne is a good investment. Please check the relationship between Helmerich Total Current Assets and its Accounts Payable accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Helmerich and Payne. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Total Current Assets vs Accounts Payable

Total Current Assets vs Accounts Payable Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Helmerich and Payne Total Current Assets account and Accounts Payable. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between Helmerich's Total Current Assets and Accounts Payable is 0.42. Overlapping area represents the amount of variation of Total Current Assets that can explain the historical movement of Accounts Payable in the same time period over historical financial statements of Helmerich and Payne, assuming nothing else is changed. The correlation between historical values of Helmerich's Total Current Assets and Accounts Payable 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 Current Assets of Helmerich and Payne are associated (or correlated) with its Accounts Payable. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Accounts Payable has no effect on the direction of Total Current Assets i.e., Helmerich's Total Current Assets and Accounts Payable go up and down completely randomly.

Correlation Coefficient

0.42
Relationship DirectionPositive 
Relationship StrengthWeak

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.

Accounts Payable

An accounting item on the balance sheet that represents Helmerich obligation to pay off a short-term debt to its creditors. The accounts payable entry is usually reported under current liabilities. If accounts payable of Helmerich and Payne are not paid within the agreed terms, the payables are considered to be in default, which may trigger a penalty or interest payment, or the revocation of additional credit from the supplier. Accounts payable may also be considered a source of cash, since they represent funds being borrowed from suppliers. Given these cash flow considerations, suppliers have a natural inclination to push for shorter payment terms, while creditors want to lengthen the payment terms. The amount a company owes to suppliers or vendors for products or services received but not yet paid for. It represents the company's short-term liabilities.
Most indicators from Helmerich's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Helmerich and Payne 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 Helmerich and Payne. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.
At this time, Helmerich's Selling General Administrative is relatively stable compared to the past year. As of 11/22/2024, Discontinued Operations is likely to grow to about 484.2 K, while Enterprise Value Over EBITDA is likely to drop 5.20.
 2021 2022 2023 2024 (projected)
Cost Of Revenue1.8B2.1B4.5M4.3M
EBITDA425.8M993.0M849.3M492.0M

Helmerich fundamental ratios Correlations

-0.10.470.470.960.96-0.330.970.490.99-0.270.380.750.630.50.710.760.540.540.860.180.66-0.110.770.760.49
-0.10.550.13-0.27-0.260.89-0.250.02-0.130.560.36-0.28-0.720.740.32-0.45-0.380.750.040.11-0.120.560.370.380.21
0.470.550.380.360.380.290.360.380.430.10.520.23-0.110.750.590.190.130.790.530.330.340.210.590.60.42
0.470.130.380.360.33-0.070.340.470.38-0.240.520.340.350.130.20.10.420.370.730.730.390.170.580.570.05
0.96-0.270.360.360.99-0.471.00.450.97-0.330.280.780.690.380.680.870.590.40.770.090.65-0.180.640.630.42
0.96-0.260.380.330.99-0.470.990.470.97-0.370.30.750.70.40.70.860.610.410.770.110.63-0.230.630.620.48
-0.330.890.29-0.07-0.47-0.47-0.44-0.43-0.320.66-0.09-0.23-0.830.540.14-0.51-0.590.52-0.32-0.22-0.050.740.190.21-0.11
0.97-0.250.360.341.00.99-0.440.440.98-0.290.280.780.660.40.690.860.550.420.770.060.66-0.160.650.640.43
0.490.020.380.470.450.47-0.430.440.39-0.30.93-0.10.420.20.280.160.560.290.780.71-0.17-0.490.30.290.62
0.99-0.130.430.380.970.97-0.320.980.39-0.250.270.790.620.50.720.810.50.510.790.070.7-0.090.740.730.45
-0.270.560.1-0.24-0.33-0.370.66-0.29-0.3-0.25-0.07-0.22-0.730.38-0.09-0.3-0.690.32-0.3-0.41-0.150.620.00.02-0.32
0.380.360.520.520.280.3-0.090.280.930.27-0.07-0.220.130.40.32-0.070.40.50.730.71-0.23-0.240.40.40.6
0.75-0.280.230.340.780.75-0.230.78-0.10.79-0.22-0.220.480.260.470.790.260.30.45-0.140.960.170.540.53-0.05
0.63-0.72-0.110.350.690.7-0.830.660.420.62-0.730.130.48-0.30.220.620.82-0.250.560.260.31-0.560.250.230.28
0.50.740.750.130.380.40.540.40.20.50.380.40.26-0.30.690.19-0.110.970.41-0.010.330.360.670.680.45
0.710.320.590.20.680.70.140.690.280.72-0.090.320.470.220.690.510.420.680.56-0.040.430.170.720.730.67
0.76-0.450.190.10.870.86-0.510.860.160.81-0.3-0.070.790.620.190.510.460.180.43-0.070.61-0.180.30.290.13
0.54-0.380.130.420.590.61-0.590.550.560.5-0.690.40.260.82-0.110.420.46-0.020.590.420.1-0.470.350.340.44
0.540.750.790.370.40.410.520.420.290.510.320.50.3-0.250.970.680.18-0.020.530.180.380.410.740.750.4
0.860.040.530.730.770.77-0.320.770.780.79-0.30.730.450.560.410.560.430.590.530.550.42-0.170.750.740.55
0.180.110.330.730.090.11-0.220.060.710.07-0.410.71-0.140.26-0.01-0.04-0.070.420.180.55-0.13-0.260.140.140.19
0.66-0.120.340.390.650.63-0.050.66-0.170.7-0.15-0.230.960.310.330.430.610.10.380.42-0.130.290.580.57-0.06
-0.110.560.210.17-0.18-0.230.74-0.16-0.49-0.090.62-0.240.17-0.560.360.17-0.18-0.470.41-0.17-0.260.290.360.37-0.43
0.770.370.590.580.640.630.190.650.30.740.00.40.540.250.670.720.30.350.740.750.140.580.361.00.41
0.760.380.60.570.630.620.210.640.290.730.020.40.530.230.680.730.290.340.750.740.140.570.371.00.41
0.490.210.420.050.420.48-0.110.430.620.45-0.320.6-0.050.280.450.670.130.440.40.550.19-0.06-0.430.410.41
Click cells to compare fundamentals

Helmerich Account Relationship Matchups

Helmerich fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets4.8B5.0B4.4B4.4B5.8B3.2B
Short Long Term Debt Total492.1M1.0B555.0M600.0M1.9B2.0B
Other Current Liab156.3M258.8M159.1M183.6M294.9M309.6M
Total Current Liabilities219.1M866.3M394.8M418.9M446.9M235.5M
Total Stockholder Equity3.3B2.9B2.8B2.8B2.9B2.1B
Property Plant And Equipment Net3.6B3.2B3.0B3.0B3.1B2.3B
Net Debt(7.2M)107.9M322.9M342.8M1.6B1.7B
Retained Earnings3.0B2.6B2.5B2.7B2.9B2.0B
Cash487.9M917.5M232.1M257.2M217.3M224.6M
Non Current Assets Total3.9B3.4B3.4B3.4B4.6B2.6B
Non Currrent Assets Other188.4M(547.3M)(516.8M)32.1M1.3B1.4B
Cash And Short Term Investments577.2M1.1B349.2M350.8M510.3M535.8M
Net Receivables195.0M233.4M437.3M409.7M418.6M271.1M
Common Stock Shares Outstanding108.0M107.8M106.6M102.9M99.1M91.2M
Liabilities And Stockholders Equity4.8B5.0B4.4B4.4B5.8B3.2B
Non Current Liabilities Total1.3B1.3B1.2B1.2B2.4B2.5B
Inventory104.2M84.1M88.0M94.2M117.9M123.8M
Other Current Assets386.1M152.9M128.5M152.0M168.4M247.7M
Other Stockholder Equity323.5M348.3M292.8M61.0M28.7M27.3M
Total Liab1.5B2.1B1.6B1.6B2.9B3.0B
Total Current Assets963.3M1.6B1.0B1.0B1.2B643.0M
Short Term Debt11.4M496.1M12.4M13.8M17.0M16.1M
Accounts Payable36.5M72.0M127.0M130.9M135.1M84.7M
Property Plant And Equipment Gross3.7B3.2B3.0B7.6B8.7B9.2B
Accumulated Other Comprehensive Income(26.2M)(20.2M)(12.1M)(8.0M)(6.4M)(6.7M)
Common Stock Total Equity11.2M11.2M11.2M11.2M12.9M10.3M
Common Stock11.2M11.2M11.2M11.2M12.9M10.4M
Other Liab777.4M713.2M625.3M604.9M695.6M446.7M
Other Assets17.1M16.2M20.9M32.1M36.9M38.7M
Long Term Debt480.7M542.0M542.6M545.1M626.9M356.9M
Treasury Stock(173.2M)(195.0M)(198.2M)(181.6M)(163.5M)(155.3M)
Property Plant Equipment3.6B3.2B3.0B3.0B3.4B3.4B
Short Term Investments89.3M198.7M117.1M93.6M292.9M307.6M
Net Tangible Assets3.3B2.8B2.8B2.7B2.4B3.0B
Retained Earnings Total Equity3.7B3.0B2.6B2.5B2.8B3.5B
Long Term Debt Total480.7M542.0M542.6M545.1M626.9M459.7M
Capital Surpluse521.6M529.9M528.3M525.4M604.2M438.1M
Deferred Long Term Liab806.6M650.7M563.4M537.7M483.9M699.5M
Long Term Investments31.6M135.4M219.0M264.9M238.5M162.7M

Pair Trading with Helmerich

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

Moving together with Helmerich Stock

  0.84NBR Nabors IndustriesPairCorr

Moving against Helmerich Stock

  0.52EC Ecopetrol SA ADRPairCorr
  0.46BORR Borr DrillingPairCorr
  0.38ICDI Independence ContractPairCorr
  0.36DINO HF Sinclair CorpPairCorr
  0.32BP BP PLC ADRPairCorr
The ability to find closely correlated positions to Helmerich could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Helmerich 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 Helmerich - 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 Helmerich and Payne to buy it.
The correlation of Helmerich 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 Helmerich moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Helmerich and Payne 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 Helmerich 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

Additional Tools for Helmerich Stock Analysis

When running Helmerich's price analysis, check to measure Helmerich's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Helmerich is operating at the current time. Most of Helmerich's value examination focuses on studying past and present price action to predict the probability of Helmerich's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Helmerich's price. Additionally, you may evaluate how the addition of Helmerich to your portfolios can decrease your overall portfolio volatility.