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.
As of Mar. 2024, Oil States International has a Sloan Ratio of -2.63%, indicating the company is in the safe zone and there is no funny business with accruals.
Oil States International Sloan Ratio % Historical Data
* 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 Oil States International's Sloan Ratio %
For the Oil & Gas Equipment & Services subindustry, Oil States International'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.
Oil States International's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Oil States International's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Oil States International's Sloan Ratio % falls into.
Oil States International 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.
Oil States International's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Oil States International's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 0.558 (Jun. 2023 ) + 4.212 (Sep. 2023 ) + 5.963 (Dec. 2023 ) + -13.374 (Mar. 2024 ) = $-2.6 Mil.
Oil States International's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 44.66 (Jun. 2023 ) + 13.635 (Sep. 2023 ) + 4.198 (Dec. 2023 ) + -11.36 (Mar. 2024 ) = $51.1 Mil.
Oil States International's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -10.321 (Jun. 2023 ) + -2.402 (Sep. 2023 ) + -6.47 (Dec. 2023 ) + -7.828 (Mar. 2024 ) = $-27.0 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.
Oil States International (NYSE:OIS) 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, Oil States International has a Sloan Ratio of -2.63%, indicating the company is in the safe zone and there is no funny business with accruals.
Oil States International Sloan Ratio % Related Terms
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Oil States International (Oil States International) Business Description
Oil States International Inc is a provider of manufactured products and services to the energy, industrial and military sectors. Manufactured products include engineered capital equipment as well as products consumed in the drilling, well construction and production of oil and natural gas. The company sells its products and services to national oil and natural gas companies, oil and natural gas companies, onshore and offshore drilling companies and other oilfield services, defense and industrial companies. The company operates through three business segments, Offshore/Manufactured Products, Well Site Services and Downhole Technologies.
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