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.
Sooner Holdings,'s Sloan Ratio for the quarter that ended in Mar. 2014 was -27.82%.
As of Mar. 2014, Sooner Holdings, has a Sloan Ratio of -27.82%, indicating there is a warning stage of accrual build up.
Sooner Holdings, Sloan Ratio % Historical Data
The historical data trend for Sooner 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 Sooner Holdings,'s Sloan Ratio %
For the Oil & Gas Refining & Marketing subindustry, Sooner 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.
Sooner Holdings,'s Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Sooner Holdings,'s Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Sooner Holdings,'s Sloan Ratio % falls into.
Sooner 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.
Sooner Holdings,'s Sloan Ratio for the fiscal year that ended in Dec. 2013 is calculated as
Sooner Holdings,'s Net Income for the trailing twelve months (TTM) ended in Mar. 2014 was -0.975 (Jun. 2013 ) + -4.487 (Sep. 2013 ) + -4.375 (Dec. 2013 ) + -4.684 (Mar. 2014 ) = €-14.52 Mil.
Sooner Holdings,'s Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2014 was -1.163 (Jun. 2013 ) + -1.332 (Sep. 2013 ) + -2.803 (Dec. 2013 ) + -1.856 (Mar. 2014 ) = €-7.15 Mil.
Sooner Holdings,'s Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2014 was 4.797 (Jun. 2013 ) + -1.05 (Sep. 2013 ) + -0.952 (Dec. 2013 ) + -0.759 (Mar. 2014 ) = €2.04 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.
Sooner Holdings, (FRA:SJO1) 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. 2014, Sooner Holdings, has a Sloan Ratio of -27.82%, indicating there is a warning stage of accrual build up.
Sooner Holdings, Sloan Ratio % Related Terms
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Syntroleum Corporation began business as GTG, Inc on November 15, 1984. On August 7, 1998 Syntroleum merged into SLH Company. The Company was later re-incorporated in Delaware on June 17, 1999. The focus of the Company and subsidiaries is the commercialization of its technologies to produce synthetic liquid hydrocarbons. The Technologies consist of Fischer-Tropsch ("FT") technology to convert syngas to FT wax, and hydroprocessing technology. Its hydro-processing technology can be utilized either for conversion of FT wax (Synfining) or fats oils and greases (Bio-Synfining) into naphtha, diesel and liquefied petroleum gases (LPG). The Company is currently commercializing its FT coal-to-liquids or ("CTL") technology via China Petroleum and Chemical Corporation ("Sinopec") and its Bio-Synfining technology through the Dynamic Fuels, LLC joint venture. Its Technologies produces synthetic liquid hydrocarbons that are compatible with refined products made from crude oil. These products include: Middle Distillates for use in reciprocating and jet/turbine engines; and Specialty Products, such as synthetic lubricants, process oils, high melting point waxes, liquid normal paraffins, and chemical feedstocks. The Company has also developed hydroprocessing for conversion of the Fischer-Tropsch wax into diesel fuel, jet fuel, lubricants, naphtha and other materials. This technology has been used to produce fuels for testing by the Department of Energy ("DOE"), the Department of Defense ("DOD"), U.S. Department of Transportation ("DOT") and manufacturers globally. Renewable diesel can be used as a finished product and does not require blending however it can also be blended with petroleum-based fuels in any ratio. Its products can be transported through existing distribution infrastructures and its renewable middle distillates are fungible products meeting ASTM standards which can be used as a drop in replacement fuel for existing diesel and jet engines. It is subject to international and domestic federal, state and local laws.
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