Shopify Total Assets vs Inventory Analysis

SHOP Stock  CAD 157.67  2.41  1.55%   
Shopify financial indicator trend analysis is much more than just breaking down Shopify prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Shopify is a good investment. Please check the relationship between Shopify Total Assets and its Inventory accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shopify. 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.
To learn how to invest in Shopify Stock, please use our How to Invest in Shopify guide.

Total Assets vs Inventory

Total Assets vs Inventory Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Shopify Total Assets account and Inventory. At this time, the significance of the direction appears to have strong relationship.
The correlation between Shopify's Total Assets and Inventory is 0.68. Overlapping area represents the amount of variation of Total Assets that can explain the historical movement of Inventory in the same time period over historical financial statements of Shopify, assuming nothing else is changed. The correlation between historical values of Shopify's Total Assets and Inventory is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Total Assets of Shopify are associated (or correlated) with its Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Inventory has no effect on the direction of Total Assets i.e., Shopify's Total Assets and Inventory go up and down completely randomly.

Correlation Coefficient

0.68
Relationship DirectionPositive 
Relationship StrengthSignificant

Total Assets

Total assets refers to the total amount of Shopify assets owned. Assets are items that have some economic value and are expended over time to create a benefit for the owner. These assets are usually recorded in Shopify books under different categories such as cash, marketable securities, accounts receivable,prepaid expenses, inventory, fixed assets, intangible assets, other assets, marketable securities, accounts receivable, prepaid expenses and others. The total value of all owned resources that are expected to provide future economic benefits to the business, including cash, investments, accounts receivable, inventory, property, plant, equipment, and intangible assets.

Inventory

Most indicators from Shopify's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Shopify 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 Shopify. 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.
To learn how to invest in Shopify Stock, please use our How to Invest in Shopify guide.At this time, Shopify's Selling General Administrative is very stable compared to the past year. As of the 27th of November 2024, Tax Provision is likely to grow to about 55.6 M, while Issuance Of Capital Stock is likely to drop 0.00.
 2021 2023 2024 (projected)
Interest Expense1.2M1.3M1.3M
Depreciation And Amortization66.3M70M37.9M

Shopify fundamental ratios Correlations

0.670.650.390.660.680.570.670.610.62-0.450.150.670.630.60.680.620.470.690.690.650.450.540.570.650.66
0.670.980.60.971.00.930.980.790.95-0.550.330.920.850.950.910.940.630.970.920.980.680.720.80.980.86
0.650.980.550.970.970.910.930.810.96-0.510.220.930.850.940.880.930.730.950.871.00.720.750.750.990.88
0.390.60.550.710.60.650.520.180.710.0-0.230.330.240.670.330.80.130.670.360.530.8-0.040.740.60.36
0.660.970.970.710.960.940.910.780.99-0.390.120.880.740.970.810.980.690.970.830.970.820.660.770.990.87
0.681.00.970.60.960.930.990.780.94-0.570.360.910.860.940.920.930.60.970.930.970.660.710.810.980.85
0.570.930.910.650.940.930.890.660.96-0.250.320.810.630.990.730.930.590.850.770.930.780.580.650.940.76
0.670.980.930.520.910.990.890.760.88-0.660.470.90.90.90.950.860.540.940.960.940.550.720.810.940.82
0.610.790.810.180.780.780.660.760.74-0.490.20.930.760.720.810.660.890.780.810.820.460.960.40.810.96
0.620.950.960.710.990.940.960.880.74-0.290.10.860.680.980.760.990.70.930.780.960.870.620.730.980.84
-0.45-0.55-0.510.0-0.39-0.57-0.25-0.66-0.49-0.29-0.52-0.57-0.88-0.28-0.81-0.3-0.16-0.59-0.75-0.490.12-0.57-0.64-0.45-0.45
0.150.330.22-0.230.120.360.320.470.20.1-0.520.310.450.250.470.05-0.10.160.470.27-0.330.350.130.220.14
0.670.920.930.330.880.910.810.90.930.86-0.570.310.880.850.930.80.810.890.940.930.560.90.590.920.97
0.630.850.850.240.740.860.630.90.760.68-0.880.450.880.670.980.660.530.850.950.830.30.790.750.810.78
0.60.950.940.670.970.940.990.90.720.98-0.280.250.850.670.760.960.650.890.790.960.80.620.680.970.81
0.680.910.880.330.810.920.730.950.810.76-0.810.470.930.980.760.730.570.90.990.870.390.810.750.860.84
0.620.940.930.80.980.930.930.860.660.99-0.30.050.80.660.960.730.60.940.760.930.880.520.80.960.78
0.470.630.730.130.690.60.590.540.890.7-0.16-0.10.810.530.650.570.60.610.580.730.60.850.180.720.87
0.690.970.950.670.970.970.850.940.780.93-0.590.160.890.850.890.90.940.610.90.940.710.670.870.950.85
0.690.920.870.360.830.930.770.960.810.78-0.750.470.940.950.790.990.760.580.90.880.430.80.740.870.86
0.650.981.00.530.970.970.930.940.820.96-0.490.270.930.830.960.870.930.730.940.880.720.760.721.00.88
0.450.680.720.80.820.660.780.550.460.870.12-0.330.560.30.80.390.880.60.710.430.720.280.550.760.6
0.540.720.75-0.040.660.710.580.720.960.62-0.570.350.90.790.620.810.520.850.670.80.760.280.30.730.89
0.570.80.750.740.770.810.650.810.40.73-0.640.130.590.750.680.750.80.180.870.740.720.550.30.740.51
0.650.980.990.60.990.980.940.940.810.98-0.450.220.920.810.970.860.960.720.950.871.00.760.730.740.88
0.660.860.880.360.870.850.760.820.960.84-0.450.140.970.780.810.840.780.870.850.860.880.60.890.510.88
Click cells to compare fundamentals

Shopify Account Relationship Matchups

Shopify fundamental ratios Accounts

201920202021202220232024 (projected)
Common Stock Shares Outstanding957.7M1.1B1.1B1.3B1.3B1.2B
Total Assets3.5B7.8B13.3B10.8B11.3B11.9B
Short Long Term Debt Total151.7M912.9M1.2B1.4B1.2B1.2B
Other Current Liab69.4M19.7M13.5M9.4M215M225.8M
Total Current Liabilities316.4M438.3M702.7M856.0M898M942.9M
Total Stockholder Equity3.0B6.4B11.1B8.2B9.1B9.5B
Other Liab14.7M21.0M346.4M283.8M326.4M342.7M
Net Tangible Assets2.5B6.0B10.6B6.0B6.9B7.3B
Property Plant And Equipment Net246.2M211.5M301.9M486.0M147M160.9M
Current Deferred Revenue56.7M107.8M216.8M295.9M302M317.1M
Net Debt(498.2M)(1.8B)(1.3B)(252.7M)(263M)(276.2M)
Retained Earnings(304.2M)15.3M2.9B(522.3M)(390M)(370.5M)
Accounts Payable181.2M300.8M456.7M532.6M364M203.9M
Cash649.9M2.7B2.5B1.6B1.4B979.1M
Non Current Assets Total744.8M885.1M4.8B4.7B5.0B5.3B
Cash And Short Term Investments2.5B6.4B7.8B5.1B5.0B3.0B
Net Receivables240.7M421.5M668.0M857.9M1.2B1.2B
Common Stock Total Equity1.1B2.2B3.3B6.1B7.0B7.4B
Short Term Investments1.8B3.7B5.3B3.4B3.6B2.1B
Liabilities And Stockholders Equity3.5B7.8B13.3B10.8B11.3B11.9B
Non Current Liabilities Total157.4M923.9M1.5B1.7B1.3B1.4B
Other Current Assets48.8M68.2M103.3M139.7M20M19M
Other Stockholder Equity62.6M261.4M161.1M30.2M251M263.6M
Total Liab473.7M1.4B2.2B2.5B2.2B2.3B
Property Plant And Equipment Gross246.2M211.5M301.9M486.0M303M176.5M
Total Current Assets2.7B6.9B8.5B6.1B6.3B3.4B
Accumulated Other Comprehensive Income1.0M8.8M(6.0M)(16.5M)4M4.2M
Short Term Debt9.1M10.1M15.7M18.2M17M17.9M
Intangible Assets167.3M135.7M138.5M390.1M29M27.6M
Common Stock3.3B6.1B8.0B8.7B9.2B9.7B
Property Plant Equipment246.2M211.5M301.9M486.0M558.9M586.8M
Capital Surpluse62.6M261.4M161.1M30.2M34.7M33.0M
Non Currrent Assets Other87.9M125.7M(2.5M)(74K)(66.6K)(63.3K)
Capital Lease Obligations151.7M154.9M262.5M483.3M234M184.5M
Cash And Equivalents649.9M2.7B2.5B1.6B1.9B1.3B
Net Invested Capital3.0B7.2B12.0B9.2B10.0B7.0B

Pair Trading with Shopify

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

Moving against Shopify Stock

  0.68DELX DelphX Capital Markets Earnings Call TodayPairCorr
The ability to find closely correlated positions to Shopify could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shopify 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 Shopify - 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 Shopify to buy it.
The correlation of Shopify 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 Shopify moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shopify 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 Shopify 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 CorrelationCorrelation Matching
When determining whether Shopify is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Shopify Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Shopify Stock. Highlighted below are key reports to facilitate an investment decision about Shopify Stock:
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shopify. 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.
To learn how to invest in Shopify Stock, please use our How to Invest in Shopify guide.
You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Please note, there is a significant difference between Shopify's value and its price as these two are different measures arrived at by different means. Investors typically determine if Shopify is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Shopify's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.