Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
Sawang Export PCL's Sloan Ratio for the quarter that ended in Mar. 2024 was -4.83%.
As of Mar. 2024, Sawang Export PCL has a Sloan Ratio of -4.83%, indicating the company is in the safe zone and there is no funny business with accruals.
Sawang Export PCL Sloan Ratio % Historical Data
The historical data trend for Sawang Export PCL's Sloan Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Sawang Export PCL's Sloan Ratio %
For the Luxury Goods subindustry, Sawang Export PCL's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Sawang Export PCL's Sloan Ratio % Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Sawang Export PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Sawang Export PCL's Sloan Ratio % falls into.
Sawang Export PCL Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Sawang Export PCL's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Sawang Export PCL's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 0.345 (Jun. 2023 ) + 0.574 (Sep. 2023 ) + -9.263 (Dec. 2023 ) + -2.008 (Mar. 2024 ) = ฿-10.4 Mil.
Sawang Export PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was -11.272 (Jun. 2023 ) + 15.782 (Sep. 2023 ) + 6.597 (Dec. 2023 ) + -3.742 (Mar. 2024 ) = ฿7.4 Mil.
Sawang Export PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -0.318 (Jun. 2023 ) + -0.668 (Sep. 2023 ) + -0.389 (Dec. 2023 ) + -0.229 (Mar. 2024 ) = ฿-1.6 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sawang Export PCL (BKK:SAWANG) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Mar. 2024, Sawang Export PCL has a Sloan Ratio of -4.83%, indicating the company is in the safe zone and there is no funny business with accruals.
Sawang Export PCL Sloan Ratio % Related Terms
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Sawang Export PCL (BKK:SAWANG) Business Description
Sawang Export PCL is engaged in the manufacturing and distributing of precious stones and jewelry. The company offers precious and semi-precious stones with expertise on Ruby and sapphire; and Gold and silver jewelry set with diamonds, Colored stones and Synthetic stones, including rings, earrings, and pendants. The organization operates in a single business segment being, Manufacturer and distributor of precious stones and jewelry. The group has a business presence in America, Europe, Thailand, Australia, and Asia, of which key revenue is derived from Australia, Europe, and Thailand.
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