What is China Housing & Land Development Sloan Ratio %?
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.
* 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.
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China Housing & Land Development Sloan Ratio % Chart
Competitive Comparison of China Housing & Land Development's Sloan Ratio %
For the Real Estate - Development subindustry, China Housing & Land Development'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.
China Housing & Land Development's Sloan Ratio % Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, China Housing & Land Development's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where China Housing & Land Development's Sloan Ratio % falls into.
China Housing & Land Development 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.
China Housing & Land Development's Net Income for the trailing twelve months (TTM) ended in Sep. 2015 was -16.083 (Dec. 2014 ) + -0.479 (Mar. 2015 ) + -18.977 (Jun. 2015 ) + -1.399 (Sep. 2015 ) = $-36.9 Mil.
China Housing & Land Development's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2015 was -9 (Dec. 2014 ) + 1.711 (Mar. 2015 ) + 8.188 (Jun. 2015 ) + -0.566 (Sep. 2015 ) = $0.3 Mil.
China Housing & Land Development's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2015 was 21.252 (Dec. 2014 ) + -0.14 (Mar. 2015 ) + -0.001 (Jun. 2015 ) + -0.108 (Sep. 2015 ) = $21.0 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.
China Housing & Land Development (NAS:CHLN) 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 Sep. 2015, China Housing & Land Development has a Sloan Ratio of -10.14%, indicating there is a warning stage of accrual build up.
China Housing & Land Development Sloan Ratio % Related Terms
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China Housing & Land Development (China Housing & Land Development) Business Description
China Housing & Land Development Inc was incorporated in the state of Nevada on July 6, 2004, as Pacific Northwest Productions Inc. On May 4, 2006, the Company changed its name to China Housing & Land Development, Inc. The Company is a real estate development company engaged in the development, construction, sale and management of residential and commercial real estate units, as well as land development. The Company has two reportable segments: Real Estate Development and Sales segment and Real Estate Construction segment. The Real Estate Development and Sales segment includes operating subsidiaries, Tsining, Puhua, NewLand, Suodi, FangZhou and JiYuan, while the Real Estate Construction segment represents Xinxing Construction. These two segments offer different products and services. The two segments are managed separately because it produces distinct products and provides different services. The Company and its other subsidiaries, Manstate, Success Hill, Way fast, Clever Advance, Grace mind, Treasure Asia and Property Management are aggregated as All Other segment. The Company faces intense competition from other real estate developers. The Company is subject to statutes and rules regulating, among other things, certain developmental matters, building and site design, and matters concerning the protection of health and the environment.
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