China Resources and Transportation Group (FRA:ZP3C) Sloan Ratio % : -44.32% (As of Sep. 2022)

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What is China Resources and Transportation Group 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.

China Resources and Transportation Group's Sloan Ratio for the quarter that ended in Sep. 2022 was -44.32%.

Warning Sign:

When sloan ratio (-44.97)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.

As of Sep. 2022, China Resources and Transportation Group has a Sloan Ratio of -44.32%, indicating earnings are more likely to be made up of accruals.

China Resources and Transportation Group Sloan Ratio % Historical Data

The historical data trend for China Resources and Transportation Group'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.

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China Resources and Transportation Group Sloan Ratio % Chart

China Resources and Transportation Group Annual Data

Trend

Mar13

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Sloan Ratio %

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-10.94

-9.82

-24.85

-9.66

-44.97

China Resources and Transportation Group Semi-Annual Data
	Mar13	Sep13	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22
Sloan Ratio %	Get a 7-Day Free Trial															-27.39	-9.74	-6.55	-44.66	-44.32

Competitive Comparison of China Resources and Transportation Group's Sloan Ratio %

For the Infrastructure Operations subindustry, China Resources and Transportation Group'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 Resources and Transportation Group's Sloan Ratio % Distribution in the Construction Industry

For the Construction industry and Industrials sector, China Resources and Transportation Group's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where China Resources and Transportation Group's Sloan Ratio % falls into.

China Resources and Transportation Group 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 Resources and Transportation Group's Sloan Ratio for the fiscal year that ended in Mar. 2022 is calculated as

Sloan Ratio	=	(Net Income (A: Mar. 2022 )	-	Cash Flow from Operations (A: Mar. 2022 )
	-	Cash Flow from Investing (A: Mar. 2022 ))	/	Total Assets (A: Mar. 2022 )
	=	(-505.839	-	1.146
	-	-0.24)	/	1126.901
	=	-44.97%

China Resources and Transportation Group's Sloan Ratio for the quarter that ended in Sep. 2022 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Sep. 2022 )
	=	(-520.805	-	4.555
	-	1.495)	/	1188.835
	=	-44.32%

For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data. China Resources and Transportation Group's Net Income for the trailing twelve months (TTM) ended in Sep. 2022 was -445.737 (Mar. 2022 ) + -75.068 (Sep. 2022 ) = €-520.81 Mil.
China Resources and Transportation Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2022 was 2.901 (Mar. 2022 ) + 1.654 (Sep. 2022 ) = €4.56 Mil.
China Resources and Transportation Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2022 was -0.26 (Mar. 2022 ) + 1.755 (Sep. 2022 ) = €1.50 Mil.

China Resources and Transportation Group (FRA:ZP3C) 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.

According to How to Beat the Market with the Sloan Ratio:

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. 2022, China Resources and Transportation Group has a Sloan Ratio of -44.32%, indicating earnings are more likely to be made up of accruals.

China Resources and Transportation Group Sloan Ratio % Related Terms

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China Resources and Transportation Group (FRA:ZP3C) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » China Resources and Transportation Group Ltd (FRA:ZP3C) » Definitions » Sloan Ratio %

Traded in Other Exchanges

N/A

Address

145 Hennessy Road, 22nd Floor, On Hong Commercial Building, Wan Chai, Hong Kong, HKG

Website

http://www.crtg.com.hk

China Resources and Transportation Group Ltd is a China-based company. It operates through various business segments that are Expressway Operations, which includes operations, management, maintenance and auxiliary facility investment of Zhunxing Expressway; CNG gas stations operation includes operation of CNG gas stations; and Other Operations, which includes sales of timber logs from forest concession, tree plantation area and outside suppliers, sales of seedlings and refined plant oil. The Expressway Operations segment generates maximum revenue for the company. Geographically, the company has business operations in China, Hong Kong and Australia.

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