What is Ho Chi Minh City Securities 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.
* 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 Ho Chi Minh City Securities's Sloan Ratio %
For the Capital Markets subindustry, Ho Chi Minh City Securities'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.
Ho Chi Minh City Securities's Sloan Ratio % Distribution in the Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Ho Chi Minh City Securities's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Ho Chi Minh City Securities's Sloan Ratio % falls into.
Ho Chi Minh City Securities 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.
Ho Chi Minh City Securities's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 157211.792 (Jun. 2023 ) + 214106.477 (Sep. 2023 ) + 179284.701 (Dec. 2023 ) + 276854.842 (Mar. 2024 ) = ₫827,458 Mil.
Ho Chi Minh City Securities's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was -1979175.098 (Jun. 2023 ) + -2566608.376 (Sep. 2023 ) + -860044.876 (Dec. 2023 ) + 44577.497 (Mar. 2024 ) = ₫-5,361,251 Mil.
Ho Chi Minh City Securities's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -4918.744 (Jun. 2023 ) + -101.535 (Sep. 2023 ) + -10892.907 (Dec. 2023 ) + -9700.816 (Mar. 2024 ) = ₫-25,614 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.
Ho Chi Minh City Securities (STC:HCM) 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, Ho Chi Minh City Securities has a Sloan Ratio of 30.45%, indicating earnings are more likely to be made up of accruals.
Ho Chi Minh City Securities Sloan Ratio % Related Terms
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Ho Chi Minh City Securities (STC:HCM) Business Description
Ho Chi Minh City Securities Corporation is a Vietnam-based securities brokerage and equities firm. It offers a full suite of services and financial products to private and institutional clients. The company provides brokerage and other supporting services including securities trading, underwriting for share issues, custodian services, finance and investment advisory services, investor capital support, portfolio management, pledge of securities, organizing investment and trading seminar, and margin trading services.
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