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.
Lexagene Holdings's Sloan Ratio for the quarter that ended in Nov. 2022 was 0.00%.
As of Nov. 2022, Lexagene Holdings has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Lexagene Holdings Sloan Ratio % Historical Data
The historical data trend for Lexagene 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 Lexagene Holdings's Sloan Ratio %
For the Medical Devices subindustry, Lexagene 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.
Lexagene Holdings's Sloan Ratio % Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Lexagene Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Lexagene Holdings's Sloan Ratio % falls into.
Lexagene 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.
Lexagene Holdings's Sloan Ratio for the fiscal year that ended in Feb. 2022 is calculated as
Lexagene Holdings's Net Income for the trailing twelve months (TTM) ended in Nov. 2022 was -2.309 (Feb. 2022 ) + -2.111 (May. 2022 ) + -2.077 (Aug. 2022 ) + -1.678 (Nov. 2022 ) = $-8.18 Mil.
Lexagene Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Nov. 2022 was -1.837 (Feb. 2022 ) + -1.797 (May. 2022 ) + -1.637 (Aug. 2022 ) + -1.63 (Nov. 2022 ) = $-6.90 Mil.
Lexagene Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Nov. 2022 was 0 (Feb. 2022 ) + 0 (May. 2022 ) + 0 (Aug. 2022 ) + 0 (Nov. 2022 ) = $0.00 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.
Lexagene Holdings (OTCPK:LXXGQ) 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 Nov. 2022, Lexagene Holdings has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Lexagene Holdings Sloan Ratio % Related Terms
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Lexagene Holdings (Lexagene Holdings) Business Description
Lexagene Holdings Inc is a molecular diagnostics company that develops molecular diagnostic systems for pathogen detection and genetic testing for other molecular markers for on-site rapid testing in veterinary diagnostics, and for use in open-access markets such as food and water safety, clinical research, agricultural testing and biodefense. The MiQLab system delivers sensitivity, specificity, and breadth of detection and can return results in approximately two hours. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest.
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