What is Shinko Electric Industries Co 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 Shinko Electric Industries Co's Sloan Ratio %
For the Semiconductor Equipment & Materials subindustry, Shinko Electric Industries Co'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.
Shinko Electric Industries Co's Sloan Ratio % Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Shinko Electric Industries Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Shinko Electric Industries Co's Sloan Ratio % falls into.
Shinko Electric Industries Co 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.
Shinko Electric Industries Co's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 3653 (Jun. 2023 ) + 6127 (Sep. 2023 ) + 3601 (Dec. 2023 ) + 5228 (Mar. 2024 ) = 円18,609 Mil.
Shinko Electric Industries Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 12112 (Jun. 2023 ) + 12074 (Sep. 2023 ) + 3287 (Dec. 2023 ) + 17991 (Mar. 2024 ) = 円45,464 Mil.
Shinko Electric Industries Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -12152 (Jun. 2023 ) + -26807 (Sep. 2023 ) + -24480 (Dec. 2023 ) + -9834 (Mar. 2024 ) = 円-73,273 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.
Shinko Electric Industries Co (TSE:6967) 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, Shinko Electric Industries Co has a Sloan Ratio of 11.79%, indicating there is a warning stage of accrual build up.
Shinko Electric Industries Co Sloan Ratio % Related Terms
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Shinko Electric Industries Co (TSE:6967) Business Description
Shinko Electric Industries Co Ltd is an integrated manufacturer of semiconductor packages. It houses eight core technologies that include hermetic seal technology, ceramic technology, multilayer build-up technology, integrated circuit assembly technology, and many others. Integrated circuit packages are the leading revenue generator, but hermetic seal tech is the traditional offering from Shinko. It connects glass and ceramics to various metals and is used in areas such as semiconductor lasers, and sensors for in-car use. The company also produces simulation technology that encompasses signal and power integrity of high-speed transmission lines and other solutions needed for high-performance semiconductor packages. Offices are located globally to serve a host of different industries.
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