MEG Price To Sales Ratio vs Free Cash Flow Per Share Analysis
| MEG Stock | CAD 26.02 0.63 2.36% |
MEG Energy financial indicator trend analysis is infinitely more than just investigating MEG Energy Corp recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether MEG Energy Corp is a good investment. Please check the relationship between MEG Energy Price To Sales Ratio and its Free Cash Flow Per Share accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MEG Energy Corp. 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.
Price To Sales Ratio vs Free Cash Flow Per Share
Price To Sales Ratio vs Free Cash Flow Per Share Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of MEG Energy Corp Price To Sales Ratio account and Free Cash Flow Per Share. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between MEG Energy's Price To Sales Ratio and Free Cash Flow Per Share is -0.35. Overlapping area represents the amount of variation of Price To Sales Ratio that can explain the historical movement of Free Cash Flow Per Share in the same time period over historical financial statements of MEG Energy Corp, assuming nothing else is changed. The correlation between historical values of MEG Energy's Price To Sales Ratio and Free Cash Flow Per Share is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Price To Sales Ratio of MEG Energy Corp are associated (or correlated) with its Free Cash Flow Per Share. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Free Cash Flow Per Share has no effect on the direction of Price To Sales Ratio i.e., MEG Energy's Price To Sales Ratio and Free Cash Flow Per Share go up and down completely randomly.
Correlation Coefficient | -0.35 |
| Relationship Direction | Negative |
| Relationship Strength | Insignificant |
Price To Sales Ratio
Price to Sales Ratio is figured by comparing MEG Energy Corp stock price to its revenues. An advantage to using Price to Sales ratio is that it is based on MEG Energy sales, a figure that is much harder to manipulate than other MEG Energy Corp multiples. Because sales tend to be more stable P/S ratio can be a good tool for screening cyclical companies fluctuating earnings patterns. A valuation ratio that compares a company's stock price to its revenues, calculated by dividing the company's market cap by its total sales or revenue over a 12-month period.Free Cash Flow Per Share
The amount of cash a company generates after accounting for capital expenditures, divided by the number of outstanding shares. It represents the cash available for dividends, share buybacks, or debt repayment per share.Most indicators from MEG Energy's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into MEG Energy Corp 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 MEG Energy Corp. 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. As of the 26th of November 2024, Tax Provision is likely to grow to about 161.7 M, while Selling General Administrative is likely to drop about 91 M.
| 2021 | 2022 | 2023 | 2024 (projected) | Interest Expense | 243M | 182M | 132M | 186.9M | Depreciation And Amortization | 460M | 517M | 607M | 362.5M |
MEG Energy fundamental ratios Correlations
Click cells to compare fundamentals
MEG Energy Account Relationship Matchups
High Positive Relationship
High Negative Relationship
MEG Energy fundamental ratios Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Common Stock Shares Outstanding | 299M | 302M | 311M | 309M | 288M | 256.0M | |
| Total Assets | 7.9B | 7.2B | 7.6B | 7.0B | 6.9B | 8.2B | |
| Short Long Term Debt Total | 3.4B | 3.2B | 3.0B | 1.8B | 1.4B | 1.3B | |
| Other Current Liab | 77M | 29M | 7M | 61M | 94M | 78.0M | |
| Total Current Liabilities | 558M | 442M | 899M | 654M | 584M | 469.7M | |
| Total Stockholder Equity | 3.9B | 3.5B | 3.8B | 4.4B | 4.5B | 4.3B | |
| Property Plant And Equipment Net | 6.7B | 6.1B | 6.0B | 5.9B | 5.7B | 6.8B | |
| Net Debt | 3.2B | 3.1B | 2.7B | 1.6B | 1.2B | 1.2B | |
| Retained Earnings | (1.8B) | (2.2B) | (1.9B) | (988M) | (531M) | (557.6M) | |
| Cash | 206M | 114M | 361M | 192M | 160M | 152M | |
| Non Current Assets Total | 7.2B | 6.7B | 6.5B | 6.1B | 6.0B | 7.1B | |
| Non Currrent Assets Other | 202M | 184M | 243M | 197M | 342M | 359.1M | |
| Cash And Short Term Investments | 206M | 114M | 361M | 192M | 160M | 152M | |
| Net Receivables | 361M | 263M | 482M | 475M | 451M | 245.3M | |
| Liabilities And Stockholders Equity | 7.9B | 7.2B | 7.6B | 7.0B | 6.9B | 8.2B | |
| Non Current Liabilities Total | 3.5B | 3.3B | 2.9B | 2.0B | 1.8B | 3.4B | |
| Inventory | 93M | 96M | 157M | 185M | 235M | 246.8M | |
| Other Current Assets | 21M | 24M | 50M | 91M | 16M | 15.2M | |
| Other Stockholder Equity | 182M | 177M | 172M | 169M | 180M | 171M | |
| Total Liab | 4.0B | 3.7B | 3.8B | 2.7B | 2.4B | 3.9B | |
| Property Plant And Equipment Gross | 6.7B | 6.1B | 10.1B | 10.4B | 10.9B | 7.7B | |
| Total Current Assets | 681M | 497M | 1.1B | 943M | 862M | 801.3M | |
| Accumulated Other Comprehensive Income | 29M | 27M | 25M | 38M | 33M | 34.7M | |
| Short Term Debt | 22M | 28M | 307M | 20M | 15M | 14.3M | |
| Short Term Investments | 10M | 18M | 15M | 14M | 13M | 13.3M | |
| Accounts Payable | 379M | 279M | 500M | 573M | 475M | 498.8M | |
| Intangible Assets | 9M | 7M | 5M | 4M | 3M | 2.9M | |
| Current Deferred Revenue | 421.1M | 80M | 106M | 85M | 76.5M | 72.7M | |
| Common Stock Total Equity | 5.4B | 5.4B | 5.4B | 5.5B | 6.3B | 5.6B | |
| Common Stock | 5.4B | 5.5B | 5.5B | 5.2B | 4.8B | 5.6B | |
| Other Liab | 73M | 106M | 165M | 191M | 171.9M | 156.0M | |
| Net Tangible Assets | 3.8B | 3.5B | 3.8B | 4.4B | 3.9B | 3.2B | |
| Other Assets | 480M | 602M | 534M | 187M | 215.1M | 317.0M | |
| Long Term Debt | 3.1B | 2.9B | 2.5B | 1.6B | 1.1B | 1.1B | |
| Deferred Long Term Liab | 15.5M | 16M | 12M | 8M | 7.2M | 9.2M | |
| Short Long Term Debt | 15.5M | 17M | 285M | 3M | 2.7M | 2.6M | |
| Property Plant Equipment | 6.7B | 6.1B | 6.0B | 5.9B | 5.3B | 5.9B | |
| Long Term Debt Total | 3.4B | 3.2B | 2.7B | 1.8B | 1.6B | 3.0B | |
| Capital Surpluse | 182M | 177M | 172M | 169M | 194.4M | 189.3M |
Pair Trading with MEG Energy
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 MEG Energy 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 MEG Energy will appreciate offsetting losses from the drop in the long position's value.Moving against MEG Stock
The ability to find closely correlated positions to MEG Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MEG Energy 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 MEG Energy - 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 MEG Energy Corp to buy it.
The correlation of MEG Energy 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 MEG Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MEG Energy Corp 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 MEG Energy 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.Other Information on Investing in MEG Stock
Balance Sheet is a snapshot of the financial position of MEG Energy Corp at a specified time, usually calculated after every quarter, six months, or one year. MEG Energy Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of MEG Energy 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 MEG currently owns. An asset can also be divided into two categories, current and non-current.