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.
Teekay Tankers's Sloan Ratio for the quarter that ended in Dec. 2023 was -6.92%.
As of Dec. 2023, Teekay Tankers has a Sloan Ratio of -6.92%, indicating the company is in the safe zone and there is no funny business with accruals.
Teekay Tankers Sloan Ratio % Historical Data
The historical data trend for Teekay Tankers'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 Teekay Tankers's Sloan Ratio %
For the Oil & Gas Midstream subindustry, Teekay Tankers'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.
Teekay Tankers's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Teekay Tankers's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Teekay Tankers's Sloan Ratio % falls into.
Teekay Tankers 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.
Teekay Tankers's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Teekay Tankers's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 169.368 (Mar. 2023 ) + 151.243 (Jun. 2023 ) + 81.366 (Sep. 2023 ) + 111.694 (Dec. 2023 ) = $514 Mil.
Teekay Tankers's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 167.319 (Mar. 2023 ) + 202.892 (Jun. 2023 ) + 123.504 (Sep. 2023 ) + 132.357 (Dec. 2023 ) = $626 Mil.
Teekay Tankers's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -0.442 (Mar. 2023 ) + -0.358 (Jun. 2023 ) + -1.275 (Sep. 2023 ) + 19.338 (Dec. 2023 ) = $17 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.
Teekay Tankers (NYSE:TNK) 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 Dec. 2023, Teekay Tankers has a Sloan Ratio of -6.92%, indicating the company is in the safe zone and there is no funny business with accruals.
Teekay Tankers Sloan Ratio % Related Terms
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Teekay Tankers (Teekay Tankers) Business Description
Teekay Tankers Ltd is a provider of marine services to the global oil and natural gas industries and an operator of medium-sized oil tankers. The company operates in two segments: tanker and ship-to-ship transfer. The vast majority of its revenue comes from the tanker segment, which consists of crude oil and product tankers for different contracts.
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