| NBY Stock | | | USD 0.60 0.01 1.69% |
NovaBay Pharmaceuticals financial indicator trend analysis is infinitely more than just investigating NovaBay Pharmaceuticals recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether NovaBay Pharmaceuticals is a good investment. Please check the relationship between NovaBay Pharmaceuticals Income Before Tax and its Gross Profit accounts. Check out
Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NovaBay Pharmaceuticals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in bureau of labor statistics.
For more information on how to buy NovaBay Stock please use our
How to Invest in NovaBay Pharmaceuticals guide.
Income Before Tax vs Gross Profit
Income Before Tax vs Gross Profit Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
NovaBay Pharmaceuticals Income Before Tax account and
Gross Profit. At this time, the significance of the direction appears to have weak relationship.
The correlation between NovaBay Pharmaceuticals' Income Before Tax and Gross Profit is 0.32. Overlapping area represents the amount of variation of Income Before Tax that can explain the historical movement of Gross Profit in the same time period over historical financial statements of NovaBay Pharmaceuticals, assuming nothing else is changed. The correlation between historical values of NovaBay Pharmaceuticals' Income Before Tax and Gross Profit is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Income Before Tax of NovaBay Pharmaceuticals are associated (or correlated) with its Gross Profit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Gross Profit has no effect on the direction of Income Before Tax i.e., NovaBay Pharmaceuticals' Income Before Tax and Gross Profit go up and down completely randomly.
Correlation Coefficient | 0.32 |
| Relationship Direction | Positive |
| Relationship Strength | Very Weak |
Income Before Tax
Income Before Tax which can also be referred as pre-tax income is reported on NovaBay Pharmaceuticals income statement and is an important metric when analyzing NovaBay Pharmaceuticals profitability. Accounting techniques because taxes can be complex, and not perfectly consistent from one company to company, an analyst may use pre-tax income as a more stable measure of profitability.
Gross Profit
Gross profit is a required income statement account that reflects total revenue of NovaBay Pharmaceuticals minus its cost of goods sold. It is profit before NovaBay Pharmaceuticals 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.
Most indicators from NovaBay Pharmaceuticals' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into NovaBay Pharmaceuticals 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 NovaBay Pharmaceuticals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in bureau of labor statistics.
For more information on how to buy NovaBay Stock please use our
How to Invest in NovaBay Pharmaceuticals guide.
Selling General Administrative is likely to rise to about 7.5
M in 2024, whereas
Tax Provision is likely to drop 0.00 in 2024.
| 2021 | 2022 | 2023 | 2024 (projected) |
Gross Profit | 5.6M | 7.8M | 7.9M | 8.1M | Total Revenue | 8.4M | 14.4M | 14.7M | 10.0M |
NovaBay Pharmaceuticals fundamental ratios Correlations
Click cells to compare fundamentals
NovaBay Pharmaceuticals Account Relationship Matchups
High Positive Relationship
High Negative Relationship
NovaBay Pharmaceuticals fundamental ratios Accounts
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Additional Tools for NovaBay Stock Analysis
When running NovaBay Pharmaceuticals' price analysis, check to
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predict the probability of NovaBay Pharmaceuticals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NovaBay Pharmaceuticals' price. Additionally, you may evaluate how the addition of NovaBay Pharmaceuticals to your portfolios can decrease your overall portfolio volatility.