Flaherty & Crumrine Prfdome Oppo (Flaherty & Crumrine Prfdome Oppo) Sloan Ratio % : 0.00% (As of Nov. 2023)

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What is Flaherty & Crumrine Prfdome Oppo 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.

Flaherty & Crumrine Prfdome Oppo's Sloan Ratio for the quarter that ended in Nov. 2023 was 0.00%.

As of Nov. 2023, Flaherty & Crumrine Prfdome Oppo has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.

Flaherty & Crumrine Prfdome Oppo Sloan Ratio % Historical Data

The historical data trend for Flaherty & Crumrine Prfdome Oppo'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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Flaherty & Crumrine Prfdome Oppo Sloan Ratio % Chart

Flaherty & Crumrine Prfdome Oppo Annual Data

Trend

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

Nov23

Sloan Ratio %

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Flaherty & Crumrine Prfdome Oppo Semi-Annual Data
	Nov17	May18	Nov18	May19	Nov19	May20	Nov20	May21	Nov21	May22	Nov22	May23	Nov23
Sloan Ratio %	Get a 7-Day Free Trial								-	-	-	-	-

Competitive Comparison of Flaherty & Crumrine Prfdome Oppo's Sloan Ratio %

For the Asset Management subindustry, Flaherty & Crumrine Prfdome Oppo'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.

Flaherty & Crumrine Prfdome Oppo's Sloan Ratio % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Flaherty & Crumrine Prfdome Oppo's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Flaherty & Crumrine Prfdome Oppo's Sloan Ratio % falls into.

Flaherty & Crumrine Prfdome Oppo 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.

Flaherty & Crumrine Prfdome Oppo's Sloan Ratio for the fiscal year that ended in Nov. 2023 is calculated as

Sloan Ratio	=	(Net Income (A: Nov. 2023 )	-	Cash Flow from Operations (A: Nov. 2023 )
	-	Cash Flow from Investing (A: Nov. 2023 ))	/	Total Assets (A: Nov. 2023 )
	=	(1.58	-	7.63
	-	0)	/	198.165
	=	-3.05%

Flaherty & Crumrine Prfdome Oppo's Sloan Ratio for the quarter that ended in Nov. 2023 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Nov. 2023 )
	=	(1.579	-	7.63
	-	0)	/	198.165
	=	-3.05%

For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data. Flaherty & Crumrine Prfdome Oppo's Net Income for the trailing twelve months (TTM) ended in Nov. 2023 was -5.673 (May. 2023 ) + 7.252 (Nov. 2023 ) = $1.58 Mil.
Flaherty & Crumrine Prfdome Oppo's Cash Flow from Operations for the trailing twelve months (TTM) ended in Nov. 2023 was 4.04 (May. 2023 ) + 3.59 (Nov. 2023 ) = $7.63 Mil.
Flaherty & Crumrine Prfdome Oppo's Cash Flow from Investing for the trailing twelve months (TTM) ended in Nov. 2023 was 0 (May. 2023 ) + 0 (Nov. 2023 ) = $0.00 Mil.

Flaherty & Crumrine Prfdome Oppo (NYSE:PFO) 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 Nov. 2023, Flaherty & Crumrine Prfdome Oppo has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.

Flaherty & Crumrine Prfdome Oppo Sloan Ratio % Related Terms

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Flaherty & Crumrine Prfdome Oppo (Flaherty & Crumrine Prfdome Oppo) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Flaherty & Crumrine Prfd Income Oppo (NYSE:PFO) » Definitions » Sloan Ratio %

Comparable Companies

Traded in Other Exchanges

N/A

Address

301 E. Colorado Boulevard, Suite 800, Pasadena, CA, USA, 91101

Website

https://www.preferredincome.com

Flaherty & Crumrine Prfd Income Oppo is the United States-based diversified, closed-end investment company. Its primary investment objective is to produce high current income consistent with the preservation of capital. The fund invests primarily in a diversified portfolio of preferred securities which includes traditional preferred stocks eligible for the inter-corporate dividends received a deduction and fully taxable preferred securities.

Executives

Karen Hanovice Hogan	director	301 EAST COLORADO BLVD, SUITE 720, PASADENA CA 91101
Chad Conwell	officer: VP & Asst. Compliance Officer	301 E. COLORADO BLVD., SUITE 720, PASADENA CA 91101
Robert M Ettinger	officer: President	301 E COLORADO BLVD STE 720, PASADENA CA 91101
Robert F Wulf	director	301 E. COLORADO BLVD., SUITE 720, PASADENA CA 91101
Bank Of America Corp /de/	10 percent owner	BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST, CHARLOTTE NC 28255
Merrill Lynch, Pierce, Fenner & Smith Inc.	10 percent owner	4 WORLD FINANCIAL CENTER, NORTH TOWER, NEW YORK NY 10080
Banc Of America Securities Llc	10 percent owner	100 N TRYON ST., 25TH FLOOR, CHARLOTTE NC 28255
Donald F Crumrine	director, officer: Chairman of the Board	301 E COLORADO BLVD STE 720, PASADENA CA 91101
Christopher Douglas Ryan	officer: Vice President	310 EAST COLORADO BLVD, SUITE 720, PASADENA CA 91101
Martin Brody	director	C/O HMK ASSOCIATES, 30 COLUMBIA TURNPIKE, FLORHAM PARK NJ 07932
Laurie C Lodolo	officer: Asst CCO, Asst Treas, Asst Sec	301 E. COLORADO BOULEVARD, SUITE 720, PASADENA CA 91101
Robert E Chadwick	officer: Vice President	301 E COLORADO BLVD STE 720, PASADENA CA 91101
Peter C Stimes	officer: VP,CFO,Chf Acct Officer	301 E COLORADO BLVD STE 720, PASADENA CA 91101
David Gale	director	220 MONTGOMERY STREET, SUITE 426, SAN FRANCISCO CA 94104
Bradford S Stone	officer: Vice President, Asst Treasurer	47 MAPLE ST. SUITE 403, SUMMIT NJ 07901