PT Gowa Makassar Tourism Development Tbk (ISX:GMTD) Sloan Ratio % : 7.57% (As of Dec. 2023)

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What is PT Gowa Makassar Tourism Development Tbk 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.

PT Gowa Makassar Tourism Development Tbk's Sloan Ratio for the quarter that ended in Dec. 2023 was 7.57%.

As of Dec. 2023, PT Gowa Makassar Tourism Development Tbk has a Sloan Ratio of 7.57%, indicating the company is in the safe zone and there is no funny business with accruals.

PT Gowa Makassar Tourism Development Tbk Sloan Ratio % Historical Data

The historical data trend for PT Gowa Makassar Tourism Development Tbk'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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PT Gowa Makassar Tourism Development Tbk Sloan Ratio % Chart

PT Gowa Makassar Tourism Development Tbk Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Sloan Ratio %

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-6.83

-10.86

-7.43

3.42

7.57

PT Gowa Makassar Tourism Development Tbk Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Sloan Ratio %	Get a 7-Day Free Trial															3.42	4.56	6.03	3.82	7.57

Competitive Comparison of PT Gowa Makassar Tourism Development Tbk's Sloan Ratio %

For the Real Estate - Development subindustry, PT Gowa Makassar Tourism Development Tbk'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.

PT Gowa Makassar Tourism Development Tbk's Sloan Ratio % Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, PT Gowa Makassar Tourism Development Tbk's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where PT Gowa Makassar Tourism Development Tbk's Sloan Ratio % falls into.

PT Gowa Makassar Tourism Development Tbk 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.

PT Gowa Makassar Tourism Development Tbk's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Sloan Ratio	=	(Net Income (A: Dec. 2023 )	-	Cash Flow from Operations (A: Dec. 2023 )
	-	Cash Flow from Investing (A: Dec. 2023 ))	/	Total Assets (A: Dec. 2023 )
	=	(129014.314	-	40213.493
	-	-2284.623)	/	1203935.508
	=	7.57%

PT Gowa Makassar Tourism Development Tbk's Sloan Ratio for the quarter that ended in Dec. 2023 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Dec. 2023 )
	=	(129014.314	-	40213.493
	-	-2284.624)	/	1203935.508
	=	7.57%

PT Gowa Makassar Tourism Development Tbk's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 26853.191 (Mar. 2023 ) + 11094.161 (Jun. 2023 ) + 44136.628 (Sep. 2023 ) + 46930.334 (Dec. 2023 ) = Rp129,014 Mil.
PT Gowa Makassar Tourism Development Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 14924.556 (Mar. 2023 ) + -4634.32 (Jun. 2023 ) + 27825.745 (Sep. 2023 ) + 2097.512 (Dec. 2023 ) = Rp40,213 Mil.
PT Gowa Makassar Tourism Development Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -600.332 (Mar. 2023 ) + -173.143 (Jun. 2023 ) + -172.372 (Sep. 2023 ) + -1338.777 (Dec. 2023 ) = Rp-2,285 Mil.

PT Gowa Makassar Tourism Development Tbk (ISX:GMTD) 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 Dec. 2023, PT Gowa Makassar Tourism Development Tbk has a Sloan Ratio of 7.57%, indicating the company is in the safe zone and there is no funny business with accruals.

PT Gowa Makassar Tourism Development Tbk Sloan Ratio % Related Terms

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PT Gowa Makassar Tourism Development Tbk (ISX:GMTD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » PT Gowa Makassar Tourism Development Tbk (ISX:GMTD) » Definitions » Sloan Ratio %

Comparable Companies

XTAE:YBOX BKK:CGD PHS:IRC HKSE:03366 BOM:514215 HKSE:00298 CAI:ZMID TSE:1814 XKLS:1503 SHSE:600890

Traded in Other Exchanges

N/A

Address

Jalan Metro Tanjung Bunga Mall GTC, GA-9 No. 1B, Tanjung Bunga, Sulawesi Selatan, Makassar, IDN, 90134

Website

https://www.tanjungbunga.com

PT Gowa Makassar Tourism Development Tbk engages in property development and investment business. It is involved in the development of residential estates, apartments, condominiums, hotels, recreational facilities, commercial complexes, real estate, and other supporting facilities. It classifies its business activities into two business segments, the Core segment which consists of sales of residential houses, shop houses, and ready-to-build land, and a supporting segment consisting of Akkarena tourism area management and urban management. Its projects include Residential and Commercial. Its organization is based in Indonesia and the majority of its revenues are derived from the real estate business.

PT Gowa Makassar Tourism Development Tbk (ISX:GMTD) Headlines

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