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.
Oceana Group's Sloan Ratio for the quarter that ended in Sep. 2023 was 4.13%.
As of Sep. 2023, Oceana Group has a Sloan Ratio of 4.13%, indicating the company is in the safe zone and there is no funny business with accruals.
Oceana Group Sloan Ratio % Historical Data
The historical data trend for Oceana 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.
Competitive Comparison of Oceana Group's Sloan Ratio %
For the Packaged Foods subindustry, Oceana 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.
Oceana Group's Sloan Ratio % Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Oceana Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Oceana Group's Sloan Ratio % falls into.
Oceana 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.
Oceana Group's Sloan Ratio for the fiscal year that ended in Sep. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Oceana Group's Net Income for the trailing twelve months (TTM) ended in Sep. 2023 was 359.292 (Mar. 2023 ) + 966.708 (Sep. 2023 ) = R1,326 Mil.
Oceana Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2023 was -91.035 (Mar. 2023 ) + 639.035 (Sep. 2023 ) = R548 Mil.
Oceana Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2023 was -212.528 (Mar. 2023 ) + 433.528 (Sep. 2023 ) = R221 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.
Oceana Group (JSE:OCE) 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, Oceana Group has a Sloan Ratio of 4.13%, indicating the company is in the safe zone and there is no funny business with accruals.
Oceana Group Sloan Ratio % Related Terms
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Oceana Group Ltd is an African fishing company focused on catching, procuring, processing, marketing, and distributing canned fish, fishmeal, fish oil, lobster, horse mackerel, squid, and hake. Oceana Group also provides refrigerated warehouse facilities and logistical support services. The company's principal market is the lower-end consumer who prefers canned fish and horse mackerel. The majority of Oceana Group's revenue is derived from South Africa and Nambia. The company operates through four segments: Canned Fish and Fishmeal (Africa), which contributes the majority portion of revenue; Fishmeal and Fish Oil (USA); Horse Mackerel, Hake, Lobster, and Squid; and Commercial Cold Storage Logistics.
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