Major Gross Profit vs Cost Of Revenue Analysis

MDI Stock

CAD 8.51 0.06 0.70%

Major Drilling financial indicator trend analysis is infinitely more than just investigating Major Drilling Group recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Major Drilling Group is a good investment. Please check the relationship between Major Drilling Gross Profit and its Cost Of Revenue accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Major Drilling Group. 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.

Gross Profit vs Cost Of Revenue

Gross Profit vs Cost Of Revenue Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Major Drilling Group Gross Profit account and Cost Of Revenue. At this time, the significance of the direction appears to have very strong relationship.

The correlation between Major Drilling's Gross Profit and Cost Of Revenue is 0.83. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Cost Of Revenue in the same time period over historical financial statements of Major Drilling Group, assuming nothing else is changed. The correlation between historical values of Major Drilling's Gross Profit and Cost Of Revenue is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Gross Profit of Major Drilling Group are associated (or correlated) with its Cost Of Revenue. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cost Of Revenue has no effect on the direction of Gross Profit i.e., Major Drilling's Gross Profit and Cost Of Revenue go up and down completely randomly.

Correlation Coefficient

0.83

Relationship Direction	Positive
Relationship Strength	Strong

View All Relationships

Gross Profit

Gross profit is a required income statement account that reflects total revenue of Major Drilling Group minus its cost of goods sold. It is profit before Major Drilling operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Cost Of Revenue

Cost of Revenue is found on Major Drilling Group income statement and represents the costs associated with goods and services Major Drilling provides. Indirect cost, such as salaries, is not included. In other words, cost of revenue is the total cost incurred to obtain a sale. It is more than the traditional cost of goods sold, since it includes specific selling and marketing activities.

Most indicators from Major Drilling's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Major Drilling Group 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 Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Major Drilling Group. 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, Major Drilling's Sales General And Administrative To Revenue is very stable compared to the past year. As of the 28th of November 2024, Enterprise Value Over EBITDA is likely to grow to 7.26, while Selling General Administrative is likely to drop about 43.9 M.

	2021	2022	2023	2024 (projected)
Gross Profit	139.8M	176.9M	151.7M	105.8M
Total Revenue	650.4M	735.7M	706.7M	410.1M

Gross Profit Total Revenue

Major Drilling fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Short Term Debt	Short Term Investments	Current Deferred Revenue	Good Will
Total Assets		0.43	0.26	0.72	0.96	0.92	-0.25	0.69	0.67	0.51	0.89	0.01	0.51	0.74	0.79	0.56	0.8	0.53	-0.5	0.72	0.51	0.83	0.48	-0.78	0.83	0.0
Short Long Term Debt Total	0.43		-0.02	0.53	0.24	0.35	0.44	0.14	0.56	0.12	0.27	-0.39	0.12	0.52	0.31	0.97	0.4	0.33	-0.23	0.77	0.4	0.49	0.28	-0.28	0.16	-0.28
Other Current Liab	0.26	-0.02		0.47	0.21	0.12	-0.55	0.24	0.43	0.58	0.01	0.11	0.58	0.39	0.09	-0.08	0.32	0.58	-0.52	0.29	0.06	0.49	-0.15	-0.09	0.26	-0.38
Total Current Liabilities	0.72	0.53	0.47		0.54	0.49	-0.16	0.36	0.99	0.5	0.4	-0.34	0.5	0.98	0.52	0.59	0.73	0.89	-0.71	0.93	0.71	0.91	0.04	-0.51	0.65	-0.37
Total Stockholder Equity	0.96	0.24	0.21	0.54		0.94	-0.31	0.74	0.47	0.46	0.94	0.17	0.46	0.56	0.77	0.38	0.72	0.36	-0.36	0.51	0.36	0.71	0.54	-0.76	0.8	0.14
Property Plant And Equipment Net	0.92	0.35	0.12	0.49	0.94		-0.22	0.84	0.41	0.44	0.97	0.31	0.44	0.49	0.65	0.46	0.56	0.25	-0.29	0.53	0.31	0.59	0.73	-0.67	0.74	0.18
Net Debt	-0.25	0.44	-0.55	-0.16	-0.31	-0.22		-0.31	-0.05	-0.83	-0.12	-0.15	-0.83	-0.05	-0.15	0.38	-0.22	-0.4	0.51	0.01	-0.16	-0.32	0.04	0.18	-0.5	0.24
Retained Earnings	0.69	0.14	0.24	0.36	0.74	0.84	-0.31		0.26	0.42	0.79	0.54	0.42	0.31	0.18	0.18	0.17	0.18	-0.05	0.32	0.1	0.37	0.79	-0.22	0.45	0.37
Accounts Payable	0.67	0.56	0.43	0.99	0.47	0.41	-0.05	0.26		0.39	0.32	-0.43	0.39	0.98	0.51	0.61	0.74	0.89	-0.68	0.93	0.7	0.89	-0.04	-0.49	0.56	-0.39
Cash	0.51	0.12	0.58	0.5	0.46	0.44	-0.83	0.42	0.39		0.29	-0.06	1.0	0.36	0.34	0.16	0.47	0.62	-0.72	0.46	0.4	0.63	0.11	-0.37	0.65	-0.44
Non Current Assets Total	0.89	0.27	0.01	0.4	0.94	0.97	-0.12	0.79	0.32	0.29		0.33	0.29	0.42	0.66	0.41	0.52	0.11	-0.16	0.44	0.21	0.5	0.69	-0.69	0.7	0.35
Non Currrent Assets Other	0.01	-0.39	0.11	-0.34	0.17	0.31	-0.15	0.54	-0.43	-0.06	0.33		-0.06	-0.36	-0.26	-0.41	-0.42	-0.5	0.34	-0.39	-0.55	-0.38	0.49	0.18	-0.03	0.55
Cash And Short Term Investments	0.51	0.12	0.58	0.5	0.46	0.44	-0.83	0.42	0.39	1.0	0.29	-0.06		0.36	0.34	0.16	0.47	0.62	-0.72	0.46	0.4	0.63	0.11	-0.37	0.65	-0.44
Net Receivables	0.74	0.52	0.39	0.98	0.56	0.49	-0.05	0.31	0.98	0.36	0.42	-0.36	0.36		0.6	0.61	0.77	0.85	-0.67	0.91	0.71	0.9	0.0	-0.57	0.63	-0.32
Common Stock Shares Outstanding	0.79	0.31	0.09	0.52	0.77	0.65	-0.15	0.18	0.51	0.34	0.66	-0.26	0.34	0.6		0.48	0.9	0.39	-0.6	0.56	0.51	0.71	0.11	-0.98	0.8	-0.24
Non Current Liabilities Total	0.56	0.97	-0.08	0.59	0.38	0.46	0.38	0.18	0.61	0.16	0.41	-0.41	0.16	0.61	0.48		0.53	0.37	-0.31	0.82	0.49	0.58	0.27	-0.44	0.34	-0.24
Inventory	0.8	0.4	0.32	0.73	0.72	0.56	-0.22	0.17	0.74	0.47	0.52	-0.42	0.47	0.77	0.9	0.53		0.68	-0.73	0.72	0.58	0.9	-0.03	-0.86	0.75	-0.42
Other Current Assets	0.53	0.33	0.58	0.89	0.36	0.25	-0.4	0.18	0.89	0.62	0.11	-0.5	0.62	0.85	0.39	0.37	0.68		-0.79	0.76	0.75	0.88	-0.18	-0.35	0.54	-0.59
Other Stockholder Equity	-0.5	-0.23	-0.52	-0.71	-0.36	-0.29	0.51	-0.05	-0.68	-0.72	-0.16	0.34	-0.72	-0.67	-0.6	-0.31	-0.73	-0.79		-0.66	-0.62	-0.76	0.22	0.63	-0.71	0.74
Total Liab	0.72	0.77	0.29	0.93	0.51	0.53	0.01	0.32	0.93	0.46	0.44	-0.39	0.46	0.91	0.56	0.82	0.72	0.76	-0.66		0.69	0.85	0.13	-0.55	0.62	-0.37
Property Plant And Equipment Gross	0.51	0.4	0.06	0.71	0.36	0.31	-0.16	0.1	0.7	0.4	0.21	-0.55	0.4	0.71	0.51	0.49	0.58	0.75	-0.62	0.69		0.71	-0.01	-0.45	0.57	-0.5
Total Current Assets	0.83	0.49	0.49	0.91	0.71	0.59	-0.32	0.37	0.89	0.63	0.5	-0.38	0.63	0.9	0.71	0.58	0.9	0.88	-0.76	0.85	0.71		0.07	-0.67	0.74	-0.44
Short Term Debt	0.48	0.28	-0.15	0.04	0.54	0.73	0.04	0.79	-0.04	0.11	0.69	0.49	0.11	0.0	0.11	0.27	-0.03	-0.18	0.22	0.13	-0.01	0.07		-0.14	0.19	0.34
Short Term Investments	-0.78	-0.28	-0.09	-0.51	-0.76	-0.67	0.18	-0.22	-0.49	-0.37	-0.69	0.18	-0.37	-0.57	-0.98	-0.44	-0.86	-0.35	0.63	-0.55	-0.45	-0.67	-0.14		-0.83	0.21
Current Deferred Revenue	0.83	0.16	0.26	0.65	0.8	0.74	-0.5	0.45	0.56	0.65	0.7	-0.03	0.65	0.63	0.8	0.34	0.75	0.54	-0.71	0.62	0.57	0.74	0.19	-0.83		-0.16
Good Will	0.0	-0.28	-0.38	-0.37	0.14	0.18	0.24	0.37	-0.39	-0.44	0.35	0.55	-0.44	-0.32	-0.24	-0.24	-0.42	-0.59	0.74	-0.37	-0.5	-0.44	0.34	0.21	-0.16

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Major Drilling Account Relationship Matchups

Major Drilling fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	425.9M	388.5M	557.1M	611.7M	612.2M	428.0M
Short Long Term Debt Total	55.2M	19.2M	55.4M	25.6M	4.7M	4.5M
Other Current Liab	3.1M	2.8M	3.6M	3.5M	8.9M	4.5M
Total Current Liabilities	58.9M	75.9M	117.7M	114.6M	100.9M	74.5M
Total Stockholder Equity	297.0M	280.2M	359.8M	452.6M	493.8M	315.0M
Property Plant And Equipment Net	168.9M	148.2M	203.7M	220.7M	241.9M	193.1M
Net Debt	(3.3M)	(3.2M)	(15.9M)	(68.9M)	(91.5M)	(86.9M)
Retained Earnings	(35.7M)	(22.5M)	31.0M	105.9M	151.7M	97.4M
Accounts Payable	55.9M	73.1M	102.6M	102.1M	86.2M	57.3M
Cash	58.4M	22.4M	71.3M	94.4M	96.2M	101.0M
Non Current Assets Total	187.2M	165.3M	235.4M	251.2M	269.6M	227.7M
Non Currrent Assets Other	(177.6M)	(156.4M)	(231.1M)	(246.7M)	2.2M	2.3M
Cash And Short Term Investments	58.4M	22.4M	71.3M	94.4M	96.2M	101.0M
Net Receivables	76.0M	108.5M	144.7M	140.0M	126.1M	82.6M
Common Stock Shares Outstanding	80.5M	80.8M	82.7M	83.2M	82.5M	72.1M
Liabilities And Stockholders Equity	425.9M	388.5M	557.1M	611.7M	612.2M	428.0M
Non Current Liabilities Total	69.9M	32.5M	79.6M	44.5M	17.5M	16.6M
Inventory	99.8M	85.6M	96.8M	115.1M	110.8M	73.9M
Other Current Assets	4.5M	6.7M	9.0M	11.0M	9.5M	5.9M
Other Stockholder Equity	8.5M	5.6M	4.0M	3.7M	1.0	0.95
Total Liab	128.9M	108.4M	197.3M	159.1M	118.4M	113.0M
Property Plant And Equipment Gross	168.9M	503.1M	587.3M	640.5M	241.9M	238.6M
Total Current Assets	238.7M	223.2M	321.7M	360.5M	342.6M	200.4M
Accumulated Other Comprehensive Income	81.0M	53.7M	61.6M	76.9M	79.4M	83.4M
Short Term Debt	2.1M	1.2M	1.5M	1.6M	1.4M	1.3M
Current Deferred Revenue	(2.1M)	(1.2M)	5.0M	3.7M	4.4M	4.6M
Common Stock	243.2M	243.4M	263.2M	266.1M	262.7M	269.7M
Other Liab	16.9M	14.4M	25.7M	20.6M	18.5M	16.7M
Net Tangible Assets	288.4M	271.9M	332.4M	426.6M	383.9M	279.7M
Other Assets	9.6M	8.9M	4.4M	4.4M	4.0M	3.8M
Long Term Debt	50.3M	15.1M	50M	20.0M	23.0M	22.4M
Short Long Term Debt	1.9M	1.1M	1.0M	356K	320.4K	304.4K
Property Plant Equipment	168.9M	148.2M	203.7M	220.7M	198.6M	171.0M
Long Term Debt Total	53.0M	18.0M	53.9M	23.9M	27.5M	26.7M
Net Invested Capital	348.4M	295.6M	409.8M	472.5M	493.8M	441.4M

Pair Trading with Major Drilling

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

Moving against Major Stock

0.4

FGAA-U

FG Acquisition Corp

Pair Corr

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

The correlation of Major Drilling 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 Major Drilling moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Major Drilling Group 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 Major Drilling 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 Major Stock

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

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Major Gross Profit vs Cost Of Revenue Analysis

Gross Profit vs Cost Of Revenue

Gross Profit vs Cost Of Revenue Correlation Analysis

Correlation Coefficient

Gross Profit

Cost Of Revenue

Major Drilling fundamental ratios Correlations

Major Drilling Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Major Drilling fundamental ratios Accounts

Pair Trading with Major Drilling

Moving against Major Stock

Other Information on Investing in Major Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Cash And Short Term Investments	+ 1.0	Cash
Accounts Payable	+ 0.99	Total Current Liabilities
Net Receivables	+ 0.98	Total Current Liabilities
Net Receivables	+ 0.98	Accounts Payable
Non Current Liabilities Total	+ 0.97	Short Long Term Debt Total
Non Current Assets Total	+ 0.97	Property Plant And Equipment Net

Short Term Investments	- 0.98	Common Stock Shares Outstanding
Short Term Investments	- 0.86	Inventory
Current Deferred Revenue	- 0.83	Short Term Investments
Cash And Short Term Investments	- 0.83	Net Debt
Cash	- 0.83	Net Debt
Other Stockholder Equity	- 0.79	Other Current Assets