NOV Interest Income vs Minority Interest Analysis
NOV Stock | USD 19.06 0.17 0.90% |
NOV financial indicator trend analysis is infinitely more than just investigating NOV Inc recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether NOV Inc is a good investment. Please check the relationship between NOV Interest Income and its Minority Interest accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NOV Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons.
Interest Income vs Minority Interest
Interest Income vs Minority Interest Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of NOV Inc Interest Income account and Minority Interest. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between NOV's Interest Income and Minority Interest is -0.41. Overlapping area represents the amount of variation of Interest Income that can explain the historical movement of Minority Interest in the same time period over historical financial statements of NOV Inc, assuming nothing else is changed. The correlation between historical values of NOV's Interest Income and Minority Interest is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Interest Income of NOV Inc are associated (or correlated) with its Minority Interest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Minority Interest has no effect on the direction of Interest Income i.e., NOV's Interest Income and Minority Interest go up and down completely randomly.
Correlation Coefficient | -0.41 |
Relationship Direction | Negative |
Relationship Strength | Very Weak |
Interest Income
Income earned from the investment of cash or from lending money to others, including interest from bank accounts, bonds, or other interest-bearing investments.Minority Interest
Minority Interest is the portion of a subsidiary corporation stock that is not owned by the parent corporation. The magnitude of the minority interest in the subsidiary company is generally less than 50% of outstanding shares, otherwise the corporation would generally cease to be a subsidiary of the parent. Minority Interest can also be called non-controlling interest.All shareholders of NOV Inc whose combined shares represent less than 50% of the total outstanding shares issued by NOV have a minority interest in NOV.Most indicators from NOV's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into NOV Inc 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 NOV Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. At this time, NOV's Tax Provision is fairly stable compared to the past year. Enterprise Value Over EBITDA is likely to climb to 10.73 in 2024, whereas Discontinued Operations is likely to drop slightly above 41.6 M in 2024.
2021 | 2022 | 2023 | 2024 (projected) | Total Operating Expenses | 908M | 1.1B | 1.2B | 1.1B | Cost Of Revenue | 4.8B | 5.9B | 6.8B | 6.8B |
NOV fundamental ratios Correlations
Click cells to compare fundamentals
NOV Account Relationship Matchups
High Positive Relationship
High Negative Relationship
NOV fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 13.1B | 9.9B | 9.6B | 10.1B | 11.3B | 14.7B | |
Short Long Term Debt Total | 2.8B | 2.6B | 2.4B | 2.4B | 2.4B | 1.7B | |
Other Current Liab | 991M | 914M | 802M | 987M | 892M | 1.4B | |
Total Current Liabilities | 2.2B | 1.9B | 1.9B | 2.4B | 2.4B | 2.9B | |
Total Stockholder Equity | 7.8B | 5.3B | 5.1B | 5.1B | 6.2B | 9.2B | |
Property Plant And Equipment Net | 3.0B | 2.5B | 2.4B | 2.3B | 2.4B | 1.8B | |
Net Debt | 1.6B | 864M | 797M | 1.3B | 1.6B | 1.6B | |
Retained Earnings | 690M | (1.9B) | (2.1B) | (2.1B) | (1.2B) | (1.1B) | |
Accounts Payable | 715M | 489M | 612M | 906M | 904M | 730.4M | |
Cash | 1.2B | 1.7B | 1.6B | 1.1B | 816M | 1.5B | |
Non Current Assets Total | 7.0B | 4.7B | 4.6B | 4.6B | 5.5B | 7.8B | |
Non Currrent Assets Other | 349M | 207M | 258M | 164M | 334M | 350.7M | |
Cash And Short Term Investments | 1.2B | 1.7B | 1.6B | 1.1B | 816M | 1.5B | |
Net Receivables | 2.5B | 1.9B | 1.8B | 2.4B | 2.6B | 2.5B | |
Common Stock Shares Outstanding | 382M | 384M | 386M | 394M | 397M | 343.0M | |
Liabilities And Stockholders Equity | 13.1B | 9.9B | 9.6B | 10.1B | 11.3B | 14.7B | |
Non Current Liabilities Total | 3.1B | 2.8B | 2.6B | 2.6B | 2.6B | 2.6B | |
Inventory | 2.2B | 1.4B | 1.3B | 1.8B | 2.2B | 2.5B | |
Other Current Assets | 247M | 224M | 198M | 187M | 229M | 300.6M | |
Other Stockholder Equity | 8.6B | 8.7B | 8.8B | 8.8B | 8.8B | 5.8B | |
Total Liab | 5.3B | 4.7B | 4.5B | 5.0B | 5.1B | 5.5B | |
Total Current Assets | 6.1B | 5.2B | 4.9B | 5.5B | 5.8B | 6.9B | |
Intangible Assets | 852M | 527M | 503M | 490M | 450M | 427.5M | |
Property Plant And Equipment Gross | 3.0B | 2.5B | 2.4B | 2.3B | 5.7B | 6.0B | |
Accumulated Other Comprehensive Income | (1.4B) | (1.5B) | (1.5B) | (1.6B) | (1.5B) | (1.4B) | |
Short Term Debt | 114M | 110M | 104M | 100M | 107M | 105.1M | |
Other Liab | 393M | 337M | 292M | 298M | 342.7M | 408.4M | |
Other Assets | 67M | 773M | 258M | 349M | 401.4M | 267.6M | |
Long Term Debt | 2.0B | 1.8B | 1.7B | 1.7B | 1.7B | 1.7B | |
Good Will | 3.7B | 1.5B | 1.5B | 1.5B | 1.6B | 1.5B | |
Property Plant Equipment | 2.4B | 1.9B | 2.4B | 2.3B | 2.6B | 2.0B | |
Current Deferred Revenue | 427M | 354M | 392M | 444M | 532M | 681.5M | |
Net Tangible Assets | 4.1B | 3.2B | 3.0B | 3.1B | 2.8B | 4.3B | |
Noncontrolling Interest In Consolidated Entity | 68M | 69M | 67M | 38M | 34.2M | 65.9M | |
Retained Earnings Total Equity | 690M | (1.9B) | (2.1B) | (2.1B) | (1.9B) | (1.8B) | |
Short Term Investments | 10M | 4M | 8M | 51M | 58.7M | 61.6M | |
Long Term Debt Total | 2.0B | 1.8B | 1.7B | 1.7B | 2.0B | 2.4B |
Pair Trading with NOV
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 NOV 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 NOV will appreciate offsetting losses from the drop in the long position's value.Moving together with NOV Stock
0.83 | NR | Newpark Resources | PairCorr |
The ability to find closely correlated positions to NOV could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NOV 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 NOV - 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 NOV Inc to buy it.
The correlation of NOV 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 NOV moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NOV Inc 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 NOV 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.Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NOV Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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When running NOV's price analysis, check to measure NOV'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 NOV is operating at the current time. Most of NOV's value examination focuses on studying past and present price action to predict the probability of NOV's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NOV's price. Additionally, you may evaluate how the addition of NOV to your portfolios can decrease your overall portfolio volatility.
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Is NOV's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of NOV. If investors know NOV will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about NOV listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.06) | Dividend Share 0.2 | Earnings Share 2.48 | Revenue Per Share 22.302 | Quarterly Revenue Growth 0.098 |
The market value of NOV Inc is measured differently than its book value, which is the value of NOV that is recorded on the company's balance sheet. Investors also form their own opinion of NOV's value that differs from its market value or its book value, called intrinsic value, which is NOV's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because NOV's market value can be influenced by many factors that don't directly affect NOV's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between NOV's value and its price as these two are different measures arrived at by different means. Investors typically determine if NOV is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NOV'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.