| SCKT Stock | | | USD 1.50 0.03 2.04% |
Socket Mobile financial indicator trend analysis is much more than just breaking down Socket Mobile prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Socket Mobile is a good investment. Please check the relationship between Socket Mobile Gross Profit and its Other Operating Expenses accounts. Check out
World Market Map to better understand how to build diversified portfolios, which includes a position in Socket Mobile. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in industry.
For more information on how to buy Socket Stock please use our
How to Invest in Socket Mobile guide.
Gross Profit vs Other Operating Expenses
Gross Profit vs Other Operating Expenses Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Socket Mobile Gross Profit account and
Other Operating Expenses. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between Socket Mobile's Gross Profit and Other Operating Expenses is 0.57. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Other Operating Expenses in the same time period over historical financial statements of Socket Mobile, assuming nothing else is changed. The correlation between historical values of Socket Mobile's Gross Profit and Other Operating Expenses 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 Socket Mobile are associated (or correlated) with its Other Operating Expenses. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Other Operating Expenses has no effect on the direction of Gross Profit i.e., Socket Mobile's Gross Profit and Other Operating Expenses go up and down completely randomly.
Correlation Coefficient | 0.57 |
| Relationship Direction | Positive |
| Relationship Strength | Weak |
Gross Profit
Gross profit is a required income statement account that reflects total revenue of Socket Mobile minus its cost of goods sold. It is profit before Socket Mobile 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.
Other Operating Expenses
Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Socket Mobile. It is also known as Socket Mobile overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.
Most indicators from Socket Mobile's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Socket Mobile 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
World Market Map to better understand how to build diversified portfolios, which includes a position in Socket Mobile. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in industry.
For more information on how to buy Socket Stock please use our
How to Invest in Socket Mobile guide.
Selling General Administrative is likely to drop to about 2.6
M in 2024.
Tax Provision is likely to drop to about (726.6
K) in 2024
| 2021 | 2022 | 2023 | 2024 (projected) |
Gross Profit | 12.4M | 10.4M | 8.5M | 8.6M | Total Revenue | 23.2M | 21.2M | 17.0M | 17.8M |
Socket Mobile fundamental ratios Correlations
Click cells to compare fundamentals
Socket Mobile Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Socket Mobile fundamental ratios Accounts
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Additional Tools for Socket Stock Analysis
When running Socket Mobile's price analysis, check to
measure Socket Mobile's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Socket Mobile is operating at the current time. Most of Socket Mobile's value examination focuses on studying past and present price action to
predict the probability of Socket Mobile's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Socket Mobile's price. Additionally, you may evaluate how the addition of Socket Mobile to your portfolios can decrease your overall portfolio volatility.