Innergex Total Assets vs Net Debt Analysis

INE Stock

CAD 8.65 0.33 3.97%

Innergex Renewable financial indicator trend analysis is infinitely more than just investigating Innergex Renewable Energy recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Innergex Renewable Energy is a good investment. Please check the relationship between Innergex Renewable Total Assets and its Net Debt accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Innergex Renewable Energy. 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 Net Debt

Total Assets vs Net Debt Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Innergex Renewable Energy Total Assets account and Net Debt. At this time, the significance of the direction appears to have totally related.

The correlation between Innergex Renewable's Total Assets and Net Debt is 1.0. Overlapping area represents the amount of variation of Total Assets that can explain the historical movement of Net Debt in the same time period over historical financial statements of Innergex Renewable Energy, assuming nothing else is changed. The correlation between historical values of Innergex Renewable's Total Assets and Net Debt 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 Innergex Renewable Energy are associated (or correlated) with its Net Debt. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Debt has no effect on the direction of Total Assets i.e., Innergex Renewable's Total Assets and Net Debt go up and down completely randomly.

Correlation Coefficient

1.0

Relationship Direction	Positive
Relationship Strength	Very Strong

View All Relationships

Total Assets

Total assets refers to the total amount of Innergex Renewable 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 Innergex Renewable Energy 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.

Net Debt

The total debt of a company minus its cash and cash equivalents. It represents the actual debt burden on the company after accounting for the liquid assets it holds.

Most indicators from Innergex Renewable's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Innergex Renewable Energy 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 Innergex Renewable Energy. 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, Innergex Renewable's Discontinued Operations is very stable compared to the past year. As of the 26th of November 2024, Sales General And Administrative To Revenue is likely to grow to 0.12, while Selling General Administrative is likely to drop about 36.9 M.

	2021	2022	2023	2024 (projected)
Gross Profit	342.5M	326.7M	1.0B	1.1B
Total Revenue	747.2M	870.5M	969.9M	1.0B

Gross Profit Total Revenue

Innergex Renewable fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	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	Long Term Debt	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Common Stock Shares Outstanding	Non Current Liabilities Total	Other Current Assets	Total Liab	Property Plant And Equipment Gross	Short Long Term Debt	Total Current Assets	Short Term Debt
Total Assets		1.0	0.5	0.79	0.8	-0.5	1.0	1.0	-0.97	0.96	0.84	1.0	0.82	0.84	0.99	0.84	0.92	0.31	0.86	0.99	0.48	1.0	0.98	-0.2	0.89	0.71
Short Long Term Debt Total	1.0		0.47	0.77	0.75	-0.55	1.0	1.0	-0.96	0.97	0.82	1.0	0.8	0.81	1.0	0.82	0.92	0.3	0.83	1.0	0.46	1.0	0.98	-0.26	0.88	0.69
Other Current Liab	0.5	0.47		0.57	0.6	-0.33	0.48	0.47	-0.44	0.46	0.54	0.5	0.59	0.37	0.45	0.54	0.38	0.12	0.56	0.46	0.57	0.48	0.44	-0.19	0.41	0.51
Total Current Liabilities	0.79	0.77	0.57		0.77	-0.42	0.78	0.77	-0.68	0.63	0.91	0.79	0.86	0.5	0.72	0.91	0.7	0.31	0.82	0.74	0.33	0.78	0.7	-0.11	0.65	0.98
Total Stockholder Equity	0.8	0.75	0.6	0.77		-0.17	0.79	0.75	-0.81	0.68	0.88	0.8	0.89	0.77	0.74	0.88	0.73	0.4	0.95	0.75	0.61	0.76	0.78	0.1	0.78	0.69
Net Tangible Assets	-0.5	-0.55	-0.33	-0.42	-0.17		-0.5	-0.55	0.35	-0.55	-0.3	-0.51	-0.27	-0.06	-0.55	-0.3	-0.33	0.07	-0.39	-0.53	-0.29	-0.53	-0.42	0.44	-0.28	-0.37
Property Plant And Equipment Net	1.0	1.0	0.48	0.78	0.79	-0.5		1.0	-0.97	0.95	0.84	1.0	0.81	0.83	0.99	0.84	0.92	0.32	0.85	1.0	0.48	1.0	0.99	-0.23	0.89	0.69
Net Debt	1.0	1.0	0.47	0.77	0.75	-0.55	1.0		-0.96	0.97	0.82	1.0	0.8	0.81	1.0	0.82	0.92	0.3	0.83	1.0	0.46	1.0	0.98	-0.26	0.88	0.69
Retained Earnings	-0.97	-0.96	-0.44	-0.68	-0.81	0.35	-0.97	-0.96		-0.93	-0.81	-0.96	-0.78	-0.88	-0.96	-0.81	-0.92	-0.36	-0.85	-0.97	-0.5	-0.96	-0.99	0.24	-0.92	-0.58
Accounts Payable	0.96	0.97	0.46	0.63	0.68	-0.55	0.95	0.97	-0.93		0.7	0.95	0.72	0.81	0.98	0.7	0.9	0.22	0.76	0.97	0.52	0.96	0.95	-0.26	0.86	0.54
Cash	0.84	0.82	0.54	0.91	0.88	-0.3	0.84	0.82	-0.81	0.7		0.84	0.93	0.68	0.79	1.0	0.74	0.43	0.91	0.81	0.46	0.84	0.8	-0.11	0.75	0.84
Non Current Assets Total	1.0	1.0	0.5	0.79	0.8	-0.51	1.0	1.0	-0.96	0.95	0.84		0.82	0.84	0.99	0.84	0.92	0.3	0.85	0.99	0.48	1.0	0.98	-0.2	0.88	0.71
Non Currrent Assets Other	0.82	0.8	0.59	0.86	0.89	-0.27	0.81	0.8	-0.78	0.72	0.93	0.82		0.69	0.77	0.93	0.73	0.37	0.9	0.79	0.55	0.81	0.77	0.0	0.74	0.79
Other Assets	0.84	0.81	0.37	0.5	0.77	-0.06	0.83	0.81	-0.88	0.81	0.68	0.84	0.69		0.82	0.68	0.84	0.26	0.71	0.83	0.46	0.82	0.88	0.16	0.79	0.41
Long Term Debt	0.99	1.0	0.45	0.72	0.74	-0.55	0.99	1.0	-0.96	0.98	0.79	0.99	0.77	0.82		0.79	0.91	0.3	0.82	1.0	0.47	0.99	0.98	-0.25	0.89	0.63
Cash And Short Term Investments	0.84	0.82	0.54	0.91	0.88	-0.3	0.84	0.82	-0.81	0.7	1.0	0.84	0.93	0.68	0.79		0.74	0.43	0.91	0.81	0.46	0.84	0.8	-0.11	0.75	0.84
Net Receivables	0.92	0.92	0.38	0.7	0.73	-0.33	0.92	0.92	-0.92	0.9	0.74	0.92	0.73	0.84	0.91	0.74		0.37	0.76	0.92	0.44	0.92	0.92	-0.13	0.88	0.63
Common Stock Total Equity	0.31	0.3	0.12	0.31	0.4	0.07	0.32	0.3	-0.36	0.22	0.43	0.3	0.37	0.26	0.3	0.43	0.37		0.44	0.3	-0.02	0.31	0.3	-0.16	0.54	0.26
Common Stock Shares Outstanding	0.86	0.83	0.56	0.82	0.95	-0.39	0.85	0.83	-0.85	0.76	0.91	0.85	0.9	0.71	0.82	0.91	0.76	0.44		0.83	0.54	0.84	0.82	-0.08	0.81	0.71
Non Current Liabilities Total	0.99	1.0	0.46	0.74	0.75	-0.53	1.0	1.0	-0.97	0.97	0.81	0.99	0.79	0.83	1.0	0.81	0.92	0.3	0.83		0.47	1.0	0.98	-0.25	0.89	0.65
Other Current Assets	0.48	0.46	0.57	0.33	0.61	-0.29	0.48	0.46	-0.5	0.52	0.46	0.48	0.55	0.46	0.47	0.46	0.44	-0.02	0.54	0.47		0.46	0.5	0.01	0.43	0.27
Total Liab	1.0	1.0	0.48	0.78	0.76	-0.53	1.0	1.0	-0.96	0.96	0.84	1.0	0.81	0.82	0.99	0.84	0.92	0.31	0.84	1.0	0.46		0.98	-0.24	0.89	0.7
Property Plant And Equipment Gross	0.98	0.98	0.44	0.7	0.78	-0.42	0.99	0.98	-0.99	0.95	0.8	0.98	0.77	0.88	0.98	0.8	0.92	0.3	0.82	0.98	0.5	0.98		-0.23	0.89	0.61
Short Long Term Debt	-0.2	-0.26	-0.19	-0.11	0.1	0.44	-0.23	-0.26	0.24	-0.26	-0.11	-0.2	0.0	0.16	-0.25	-0.11	-0.13	-0.16	-0.08	-0.25	0.01	-0.24	-0.23		-0.21	-0.04
Total Current Assets	0.89	0.88	0.41	0.65	0.78	-0.28	0.89	0.88	-0.92	0.86	0.75	0.88	0.74	0.79	0.89	0.75	0.88	0.54	0.81	0.89	0.43	0.89	0.89	-0.21		0.56
Short Term Debt	0.71	0.69	0.51	0.98	0.69	-0.37	0.69	0.69	-0.58	0.54	0.84	0.71	0.79	0.41	0.63	0.84	0.63	0.26	0.71	0.65	0.27	0.7	0.61	-0.04	0.56

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Innergex Renewable Account Relationship Matchups

Innergex Renewable fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	6.4B	7.2B	7.4B	8.6B	8.9B	9.4B
Short Long Term Debt Total	4.8B	5.0B	5.1B	6.0B	6.6B	6.9B
Other Current Liab	51.9M	74.0M	41.8M	131.0M	31.0M	41.0M
Total Current Liabilities	641.4M	1.0B	733.5M	650.8M	566.4M	344.0M
Total Stockholder Equity	604.4M	1.0B	1.1B	1.3B	1.1B	623.4M
Net Tangible Assets	(269.6M)	(117.5M)	(142.8M)	(223.5M)	(201.2M)	(211.2M)
Property Plant And Equipment Net	4.6B	5.1B	5.5B	6.2B	6.6B	6.9B
Net Debt	4.7B	4.8B	4.9B	5.9B	6.4B	6.7B
Retained Earnings	(879.8M)	(1.0B)	(1.4B)	(1.6B)	(1.8B)	(1.7B)
Accounts Payable	90.8M	84.8M	71.9M	139.9M	149.1M	156.6M
Cash	156.2M	161.5M	166.3M	163.0M	159.2M	80.3M
Non Current Assets Total	6.1B	6.7B	7.0B	8.1B	8.4B	8.8B
Non Currrent Assets Other	150.3M	167.3M	134.4M	192.7M	137.3M	93.5M
Other Assets	191.7M	206.6M	255.7M	318.5M	366.2M	384.6M
Long Term Debt	4.3B	4.0B	4.4B	5.4B	6.0B	6.3B
Cash And Short Term Investments	156.2M	161.5M	166.3M	163.0M	159.2M	80.4M
Net Receivables	92.3M	199.1M	119.1M	180.6M	220.0M	231.0M
Common Stock Shares Outstanding	134.7M	170.3M	180.9M	201.8M	203.6M	111.5M
Liabilities And Stockholders Equity	6.4B	7.2B	7.4B	8.6B	8.9B	9.4B
Non Current Liabilities Total	5.1B	5.0B	5.3B	6.5B	7.2B	7.5B
Other Current Assets	17.7M	24.4M	41.6M	183.6M	48.1M	33.0M
Total Liab	5.8B	6.1B	6.0B	7.1B	7.7B	8.1B
Property Plant And Equipment Gross	4.6B	5.1B	6.6B	7.5B	8.2B	8.7B
Short Long Term Debt	410.1M	767.2M	513.2M	374.4M	248.9M	368.3M
Total Current Assets	305.6M	452.5M	388.7M	527.2M	518.1M	544.0M
Short Term Debt	413.3M	772.4M	517.3M	379.9M	255.0M	198.4M
Common Stock	97.2M	4.2M	360.9M	485K	1.3M	1.2M
Property Plant Equipment	4.6B	5.1B	5.5B	6.2B	7.1B	7.5B
Other Liab	717.3M	832.3M	737.7M	820.0M	943.0M	990.2M
Current Deferred Revenue	85.3M	105.5M	102.5M	131.2M	150.9M	158.5M
Good Will	60.7M	75.9M	60.9M	139.7M	176.6M	185.4M
Other Stockholder Equity	1.3B	2.0B	2.0B	2.6B	2.6B	2.7B
Long Term Investments	511.9M	446.8M	133.4M	151.6M	151.9M	176.7M
Accumulated Other Comprehensive Income	(15.2M)	(111.7M)	(50.6M)	196.7M	132.9M	139.5M
Intangible Assets	693.4M	933.4M	1.1B	1.3B	1.3B	680.6M
Inventory	39.5M	67.5M	61.7M	90.8M	81.7M	71.6M
Long Term Debt Total	4.4B	4.2B	4.6B	5.6B	6.5B	4.5B
Capital Surpluse	1.3B	2.0B	2.0B	2.6B	3.0B	1.7B

Pair Trading with Innergex Renewable

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

Moving against Innergex Stock

0.74	JPM	JPMorgan Chase	Pair Corr
0.65	RY-PS	Royal Bank	Pair Corr
0.64	BOFA	Bank of America	Pair Corr
0.64	RY-PM	Royal Bank	Pair Corr
0.55	RY-PJ	Royal Bank	Pair Corr

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

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

Other Information on Investing in Innergex Stock

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

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Innergex Total Assets vs Net Debt Analysis

Total Assets vs Net Debt

Total Assets vs Net Debt Correlation Analysis

Correlation Coefficient

Total Assets

Net Debt

Innergex Renewable fundamental ratios Correlations

Innergex Renewable Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Innergex Renewable fundamental ratios Accounts

Pair Trading with Innergex Renewable

Moving against Innergex Stock

Other Information on Investing in Innergex Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Short Long Term Debt Total	+ 1.0	Total Assets
Property Plant And Equipment Net	+ 1.0	Total Assets
Net Debt	+ 1.0	Total Assets
Non Current Assets Total	+ 1.0	Total Assets
Total Liab	+ 1.0	Total Assets
Property Plant And Equipment Net	+ 1.0	Short Long Term Debt Total

Property Plant And Equipment Gross	- 0.99	Retained Earnings
Non Current Liabilities Total	- 0.97	Retained Earnings
Retained Earnings	- 0.97	Property Plant And Equipment Net
Retained Earnings	- 0.97	Total Assets
Total Liab	- 0.96	Retained Earnings
Long Term Debt	- 0.96	Retained Earnings