Novo Free Cash Flow Yield vs Net Income Per Share Analysis

NVO Stock

CAD 0.07 0.01 7.14%

Novo Resources financial indicator trend analysis is infinitely more than just investigating Novo Resources Corp recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Novo Resources Corp is a good investment. Please check the relationship between Novo Resources Free Cash Flow Yield and its Net Income Per Share accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Novo Resources 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.

Free Cash Flow Yield vs Net Income Per Share

Free Cash Flow Yield vs Net Income Per Share Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Novo Resources Corp Free Cash Flow Yield account and Net Income Per Share. At this time, the significance of the direction appears to have strong relationship.

The correlation between Novo Resources' Free Cash Flow Yield and Net Income Per Share is 0.78. Overlapping area represents the amount of variation of Free Cash Flow Yield that can explain the historical movement of Net Income Per Share in the same time period over historical financial statements of Novo Resources Corp, assuming nothing else is changed. The correlation between historical values of Novo Resources' Free Cash Flow Yield and Net Income 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 Free Cash Flow Yield of Novo Resources Corp are associated (or correlated) with its Net Income Per Share. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Income Per Share has no effect on the direction of Free Cash Flow Yield i.e., Novo Resources' Free Cash Flow Yield and Net Income Per Share go up and down completely randomly.

Correlation Coefficient

0.78

Relationship Direction	Positive
Relationship Strength	Significant

View All Relationships

Free Cash Flow Yield

A financial solvency ratio that compares the free cash flow per share a company is expected to earn against its market value per share, calculated as free cash flow per share divided by market price per share.

Net Income Per Share

Most indicators from Novo Resources' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Novo Resources 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 Novo Resources 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 4th of December 2024, Sales General And Administrative To Revenue is likely to grow to 0.21, while Selling General Administrative is likely to drop about 9.4 M.

Novo Resources fundamental ratios Correlations

	Total Assets	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Cash	Non Current Assets Total	Cash And Short Term Investments	Common Stock Shares Outstanding	Other Stockholder Equity	Total Liab	Total Current Assets	Net Receivables	Accounts Payable	Inventory	Other Current Assets	Common Stock	Short Term Investments	Net Tangible Assets	Cash And Equivalents	Property Plant Equipment	Other Liab	Non Currrent Assets Other	Net Invested Capital	Net Working Capital
Total Assets		0.96	0.99	0.91	0.38	-0.44	0.71	0.99	0.65	0.67	0.46	0.95	0.76	0.34	0.75	0.89	0.35	0.76	-0.52	0.91	0.01	0.89	0.72	0.46	0.82	-0.83
Total Current Liabilities	0.96		0.91	0.86	0.56	-0.46	0.52	0.98	0.44	0.62	0.46	0.99	0.59	0.35	0.66	0.94	0.34	0.73	-0.54	0.87	0.0	0.89	0.77	0.46	0.85	-0.83
Total Stockholder Equity	0.99	0.91		0.92	0.25	-0.43	0.78	0.96	0.73	0.69	0.48	0.88	0.84	0.36	0.75	0.83	0.41	0.76	-0.52	0.92	0.01	0.86	0.7	0.4	0.75	-0.82
Property Plant And Equipment Net	0.91	0.86	0.92		0.21	-0.2	0.71	0.9	0.64	0.48	0.35	0.82	0.74	0.11	0.64	0.89	0.4	0.56	-0.46	0.74	0.29	0.67	0.58	0.14	0.77	-0.63
Net Debt	0.38	0.56	0.25	0.21		-0.05	-0.34	0.48	-0.39	0.03	-0.06	0.61	-0.26	0.09	0.27	0.54	-0.02	0.13	-0.26	0.26	0.02	0.4	0.28	0.44	0.66	-0.37
Retained Earnings	-0.44	-0.46	-0.43	-0.2	-0.05		-0.29	-0.43	-0.24	-0.92	-0.89	-0.42	-0.37	-0.87	-0.14	-0.3	-0.24	-0.91	0.57	-0.71	0.77	-0.73	-0.83	-0.38	0.02	0.73
Cash	0.71	0.52	0.78	0.71	-0.34	-0.29		0.62	0.99	0.54	0.34	0.5	0.98	0.15	0.65	0.44	0.25	0.58	-0.18	0.68	0.06	0.57	0.38	0.24	0.39	-0.49
Non Current Assets Total	0.99	0.98	0.96	0.9	0.48	-0.43	0.62		0.55	0.64	0.43	0.97	0.68	0.33	0.74	0.91	0.34	0.74	-0.55	0.9	0.01	0.9	0.72	0.48	0.85	-0.84
Cash And Short Term Investments	0.65	0.44	0.73	0.64	-0.39	-0.24	0.99	0.55		0.49	0.31	0.43	0.98	0.12	0.59	0.38	0.21	0.52	-0.08	0.63	0.05	0.5	0.31	0.21	0.34	-0.41
Common Stock Shares Outstanding	0.67	0.62	0.69	0.48	0.03	-0.92	0.54	0.64	0.49		0.88	0.56	0.62	0.85	0.36	0.46	0.4	0.97	-0.7	0.87	-0.63	0.83	0.86	0.37	0.17	-0.86
Other Stockholder Equity	0.46	0.46	0.48	0.35	-0.06	-0.89	0.34	0.43	0.31	0.88		0.37	0.44	0.86	0.0	0.4	0.35	0.85	-0.53	0.71	-0.67	0.61	0.81	-0.01	-0.06	-0.66
Total Liab	0.95	0.99	0.88	0.82	0.61	-0.42	0.5	0.97	0.43	0.56	0.37		0.56	0.27	0.71	0.93	0.21	0.69	-0.47	0.83	0.01	0.88	0.7	0.55	0.89	-0.79
Total Current Assets	0.76	0.59	0.84	0.74	-0.26	-0.37	0.98	0.68	0.98	0.62	0.44	0.56		0.26	0.61	0.52	0.3	0.66	-0.2	0.76	0.0	0.64	0.49	0.24	0.42	-0.56
Net Receivables	0.34	0.35	0.36	0.11	0.09	-0.87	0.15	0.33	0.12	0.85	0.86	0.27	0.26		-0.04	0.17	0.49	0.79	-0.55	0.65	-0.82	0.59	0.76	0.2	-0.13	-0.71
Accounts Payable	0.75	0.66	0.75	0.64	0.27	-0.14	0.65	0.74	0.59	0.36	0.0	0.71	0.61	-0.04		0.52	0.01	0.44	-0.4	0.62	0.19	0.69	0.28	0.68	0.74	-0.6
Inventory	0.89	0.94	0.83	0.89	0.54	-0.3	0.44	0.91	0.38	0.46	0.4	0.93	0.52	0.17	0.52		0.2	0.57	-0.41	0.73	0.15	0.72	0.65	0.21	0.84	-0.63
Other Current Assets	0.35	0.34	0.41	0.4	-0.02	-0.24	0.25	0.34	0.21	0.4	0.35	0.21	0.3	0.49	0.01	0.2		0.36	-0.42	0.39	-0.05	0.32	0.54	0.0	0.11	-0.51
Common Stock	0.76	0.73	0.76	0.56	0.13	-0.91	0.58	0.74	0.52	0.97	0.85	0.69	0.66	0.79	0.44	0.57	0.36		-0.65	0.92	-0.56	0.91	0.9	0.45	0.31	-0.9
Short Term Investments	-0.52	-0.54	-0.52	-0.46	-0.26	0.57	-0.18	-0.55	-0.08	-0.7	-0.53	-0.47	-0.2	-0.55	-0.4	-0.41	-0.42	-0.65		-0.58	0.31	-0.62	-0.64	-0.32	-0.25	0.73
Net Tangible Assets	0.91	0.87	0.92	0.74	0.26	-0.71	0.68	0.9	0.63	0.87	0.71	0.83	0.76	0.65	0.62	0.73	0.39	0.92	-0.58		-0.31	0.95	0.85	0.46	0.56	-0.93
Cash And Equivalents	0.01	0.0	0.01	0.29	0.02	0.77	0.06	0.01	0.05	-0.63	-0.67	0.01	0.0	-0.82	0.19	0.15	-0.05	-0.56	0.31	-0.31		-0.3	-0.37	-0.19	0.4	0.36
Property Plant Equipment	0.89	0.89	0.86	0.67	0.4	-0.73	0.57	0.9	0.5	0.83	0.61	0.88	0.64	0.59	0.69	0.72	0.32	0.91	-0.62	0.95	-0.3		0.86	0.67	0.63	-0.95
Other Liab	0.72	0.77	0.7	0.58	0.28	-0.83	0.38	0.72	0.31	0.86	0.81	0.7	0.49	0.76	0.28	0.65	0.54	0.9	-0.64	0.85	-0.37	0.86		0.35	0.37	-0.89
Non Currrent Assets Other	0.46	0.46	0.4	0.14	0.44	-0.38	0.24	0.48	0.21	0.37	-0.01	0.55	0.24	0.2	0.68	0.21	0.0	0.45	-0.32	0.46	-0.19	0.67	0.35		0.5	-0.57
Net Invested Capital	0.82	0.85	0.75	0.77	0.66	0.02	0.39	0.85	0.34	0.17	-0.06	0.89	0.42	-0.13	0.74	0.84	0.11	0.31	-0.25	0.56	0.4	0.63	0.37	0.5		-0.52
Net Working Capital	-0.83	-0.83	-0.82	-0.63	-0.37	0.73	-0.49	-0.84	-0.41	-0.86	-0.66	-0.79	-0.56	-0.71	-0.6	-0.63	-0.51	-0.9	0.73	-0.93	0.36	-0.95	-0.89	-0.57	-0.52

Click cells to compare fundamentals

Novo Resources Account Relationship Matchups

Novo Resources fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	158.0M	371.4M	462.7M	256.2M	106.5M	131.5M
Total Current Liabilities	9.6M	32.9M	45.5M	22.7M	9.0M	9.4M
Total Stockholder Equity	148.4M	244.5M	314.3M	188.0M	84.9M	102.5M
Property Plant And Equipment Net	107.8M	131.0M	257.0M	178.9M	3.8M	3.6M
Net Debt	(24.0M)	34.6M	48.1M	(41.3M)	(10.0M)	(10.5M)
Retained Earnings	(60.1M)	(157.2M)	(157.9M)	(263.4M)	(391.2M)	(371.6M)
Cash	28.7M	40.5M	32.3M	47.9M	11.6M	21.7M
Non Current Assets Total	122.4M	324.5M	413.3M	199.7M	82.6M	104.6M
Cash And Short Term Investments	28.8M	40.7M	32.5M	48.1M	11.8M	22.8M
Common Stock Shares Outstanding	175.3M	198.9M	239.8M	248.6M	297.4M	312.3M
Liabilities And Stockholders Equity	158.0M	371.4M	462.7M	256.2M	106.5M	131.5M
Other Stockholder Equity	24.2M	(2.6M)	57.4M	60.1M	69.2M	72.6M
Total Liab	9.6M	127.0M	148.4M	68.2M	21.5M	29.0M
Total Current Assets	35.7M	47.0M	49.4M	56.4M	23.9M	26.9M
Net Receivables	6.7M	1.8M	6.1M	2.6M	11.3M	11.8M
Accumulated Other Comprehensive Income	(6.4M)	57.1M	26.0M	(5.6M)	61.2M	64.2M
Accounts Payable	759K	6.9M	3.2M	1.7M	556K	528.2K
Other Current Assets	3.3M	642K	1.2M	1.1M	822K	808.4K
Common Stock	190.7M	347.2M	388.8M	396.8M	414.9M	435.6M
Short Term Investments	88K	195K	108K	152K	149K	141.6K
Net Tangible Assets	148.4M	244.5M	314.3M	188.0M	216.2M	193.2M
Long Term Investments	6.7M	14.5M	156.2M	20.7M	34.4M	36.9M
Short Term Debt	4.7M	10.6M	24.6M	4.3M	1.2M	1.1M
Property Plant Equipment	107.8M	290.5M	257.0M	178.9M	205.8M	165.7M
Non Currrent Assets Other	74K	159.6M	77K	101K	44.4M	32.1M
Other Assets	74K	83K	77K	101K	116.2K	90.6K
Net Invested Capital	146.3M	148.4M	357.4M	188.0M	84.9M	80.7M
Net Working Capital	39.8M	26.1M	3.9M	33.7M	14.9M	25.0M

Pair Trading with Novo Resources

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

Moving together with Novo Stock

0.62

ORE

Orezone Gold Corp

Pair Corr

Moving against Novo Stock

0.6	TSLA	Tesla Inc CDR	Pair Corr
0.53	AMZN	Amazon CDR	Pair Corr
0.47	JPM	JPMorgan Chase	Pair Corr

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

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

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

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Novo Free Cash Flow Yield vs Net Income Per Share Analysis

Free Cash Flow Yield vs Net Income Per Share

Free Cash Flow Yield vs Net Income Per Share Correlation Analysis

Correlation Coefficient

Free Cash Flow Yield

Net Income Per Share

Novo Resources fundamental ratios Correlations

Novo Resources Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Novo Resources fundamental ratios Accounts

Pair Trading with Novo Resources

Moving together with Novo Stock

Moving against Novo Stock

Other Information on Investing in Novo Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Total Stockholder Equity	+ 0.99	Total Assets
Non Current Assets Total	+ 0.99	Total Assets
Total Liab	+ 0.99	Total Current Liabilities
Cash And Short Term Investments	+ 0.99	Cash
Non Current Assets Total	+ 0.98	Total Current Liabilities
Total Current Assets	+ 0.98	Cash

Net Working Capital	- 0.95	Property Plant Equipment
Net Working Capital	- 0.93	Net Tangible Assets
Common Stock Shares Outstanding	- 0.92	Retained Earnings
Common Stock	- 0.91	Retained Earnings
Net Working Capital	- 0.9	Common Stock
Net Working Capital	- 0.89	Other Liab