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.
CURO Group Holdings's Sloan Ratio for the quarter that ended in Sep. 2023 was -3.75%.
As of Sep. 2023, CURO Group Holdings has a Sloan Ratio of -3.75%, indicating the company is in the safe zone and there is no funny business with accruals.
CURO Group Holdings Sloan Ratio % Historical Data
The historical data trend for CURO Group Holdings'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 CURO Group Holdings's Sloan Ratio %
For the Credit Services subindustry, CURO Group Holdings'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.
CURO Group Holdings's Sloan Ratio % Distribution in the Credit Services Industry
For the Credit Services industry and Financial Services sector, CURO Group Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where CURO Group Holdings's Sloan Ratio % falls into.
CURO Group Holdings 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.
CURO Group Holdings's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as
CURO Group Holdings's Net Income for the trailing twelve months (TTM) ended in Sep. 2023 was -186.393 (Dec. 2022 ) + -59.471 (Mar. 2023 ) + -59.327 (Jun. 2023 ) + -104.442 (Sep. 2023 ) = $-409.6 Mil.
CURO Group Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2023 was -11.124 (Dec. 2022 ) + -4.143 (Mar. 2023 ) + 65.948 (Jun. 2023 ) + -42.224 (Sep. 2023 ) = $8.5 Mil.
CURO Group Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2023 was -148.657 (Dec. 2022 ) + 7.006 (Mar. 2023 ) + -103.625 (Jun. 2023 ) + -106.184 (Sep. 2023 ) = $-351.5 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.
CURO Group Holdings (OTCPK:CUROQ) 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. 2023, CURO Group Holdings has a Sloan Ratio of -3.75%, indicating the company is in the safe zone and there is no funny business with accruals.
CURO Group Holdings Sloan Ratio % Related Terms
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CURO Group Holdings (CURO Group Holdings) Business Description
CURO Group Holdings Corp is a consumer finance company serving a full spectrum of non-prime, near-prime and prime consumers in portions of the U.S. and Canada. It offers a broad range of consumer finance products including unsecured installment loans, secured installment loans, open-end loans, and single-pay loans. The company also provides ancillary financial products including check cashing, proprietary reloadable prepaid debit cards, credit protection insurance in the Canadian market, gold buying, retail installment sales, and money transfer services. The firm operates under three segments: US, Canada Direct Lending, and Canada POS Lending.
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