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.
Omax Autos's Sloan Ratio for the quarter that ended in Mar. 2024 was 0.00%.
As of Mar. 2024, Omax Autos has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Omax Autos Sloan Ratio % Historical Data
The historical data trend for Omax Autos'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 Omax Autos's Sloan Ratio %
For the Auto Parts subindustry, Omax Autos'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.
Omax Autos's Sloan Ratio % Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Omax Autos's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Omax Autos's Sloan Ratio % falls into.
Omax Autos 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.
Omax Autos's Sloan Ratio for the fiscal year that ended in Mar. 2024 is calculated as
Omax Autos's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was -11.588 (Jun. 2023 ) + -35.033 (Sep. 2023 ) + -2.668 (Dec. 2023 ) + 165.867 (Mar. 2024 ) = ₹117 Mil.
Omax Autos's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 0 (Jun. 2023 ) + 0 (Sep. 2023 ) + 0 (Dec. 2023 ) + 0 (Mar. 2024 ) = ₹0 Mil.
Omax Autos's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was 0 (Jun. 2023 ) + 0 (Sep. 2023 ) + 0 (Dec. 2023 ) + 0 (Mar. 2024 ) = ₹0 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.
Omax Autos (NSE:OMAXAUTO) 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. 2024, Omax Autos has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Omax Autos Sloan Ratio % Related Terms
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Omax Autos Ltd is engaged in the manufacturing and selling of sheet metal components. The company works in the automotive components and parts segment in the two-wheeler and four-wheeler industries. It manages its business in automotive, railways and heavy fabrication, and energy areas. It offers frame assembly, step pavilion, and Saree Guard, among others for two-wheelers. It offers connecting rods, coupling connections, and Silent Block, among others for three-wheelers. The company's off-highway product range includes a front axle, clutch pedal, and brake pedal. Its railways and heavy fabrication products include coach building and retention tanks. The company through its energy business division promotes green energy generation.
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