60 Degrees Pharmaceuticals (60 Degrees Pharmaceuticals) Sloan Ratio % : 55.58% (As of Mar. 2024)

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What is 60 Degrees Pharmaceuticals 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.

60 Degrees Pharmaceuticals's Sloan Ratio for the quarter that ended in Mar. 2024 was 55.58%.

As of Mar. 2024, 60 Degrees Pharmaceuticals has a Sloan Ratio of 55.58%, indicating there is a warning stage of accrual build up.

60 Degrees Pharmaceuticals Sloan Ratio % Historical Data

The historical data trend for 60 Degrees Pharmaceuticals'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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60 Degrees Pharmaceuticals Sloan Ratio % Chart

60 Degrees Pharmaceuticals Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Sloan Ratio %

-107.29

-255.95

-394.14

11.47

60 Degrees Pharmaceuticals Quarterly Data
	Dec20	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Sloan Ratio %	Get a 7-Day Free Trial							-85.49	-107.09	13.38	11.47	55.58

Competitive Comparison of 60 Degrees Pharmaceuticals's Sloan Ratio %

For the Biotechnology subindustry, 60 Degrees Pharmaceuticals'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.

60 Degrees Pharmaceuticals's Sloan Ratio % Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, 60 Degrees Pharmaceuticals's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where 60 Degrees Pharmaceuticals's Sloan Ratio % falls into.

60 Degrees Pharmaceuticals 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.

60 Degrees Pharmaceuticals's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Sloan Ratio	=	(Net Income (A: Dec. 2023 )	-	Cash Flow from Operations (A: Dec. 2023 )
	-	Cash Flow from Investing (A: Dec. 2023 ))	/	Total Assets (A: Dec. 2023 )
	=	(-3.766	-	-4.543
	-	-0.116)	/	7.784
	=	11.47%

60 Degrees Pharmaceuticals's Sloan Ratio for the quarter that ended in Mar. 2024 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Mar. 2024 )
	=	(-0.736	-	-5.27
	-	-0.123)	/	8.379
	=	55.58%

60 Degrees Pharmaceuticals's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was -3.337 (Jun. 2023 ) + 4.183 (Sep. 2023 ) + -2.012 (Dec. 2023 ) + 0.43 (Mar. 2024 ) = $-0.74 Mil.
60 Degrees Pharmaceuticals's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was -0.313 (Jun. 2023 ) + -3.753 (Sep. 2023 ) + -0.064 (Dec. 2023 ) + -1.14 (Mar. 2024 ) = $-5.27 Mil.
60 Degrees Pharmaceuticals's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -0.018 (Jun. 2023 ) + -0.028 (Sep. 2023 ) + -0.067 (Dec. 2023 ) + -0.01 (Mar. 2024 ) = $-0.12 Mil.

60 Degrees Pharmaceuticals (NAS:SXTPW) 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 Mar. 2024, 60 Degrees Pharmaceuticals has a Sloan Ratio of 55.58%, indicating there is a warning stage of accrual build up.

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60 Degrees Pharmaceuticals (60 Degrees Pharmaceuticals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » 60 Degrees Pharmaceuticals Inc (NAS:SXTPW) » Definitions » Sloan Ratio %

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SXTP:USA

Address

1025 Connecticut Avenue NW, Suite 1000, Washington, D.C, WA, USA, 20036

Website

https://www.60degreespharma.com

60 Degrees Pharmaceuticals Inc operates as a specialty pharmaceutical company with the goal of using biological science and applied research to develop and commercialize new therapies for the prevention and treatment of infectious diseases. The firm's pipeline products under development cover development programs for COVID-19, fungal, tick-borne, and other viral diseases through Arakoda and Celgosivir.