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.
Angel Wing Metals's Sloan Ratio for the quarter that ended in Dec. 2023 was -106.00%.
Warning Sign:
When sloan ratio (-106.03)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.
As of Dec. 2023, Angel Wing Metals has a Sloan Ratio of -106.00%, indicating earnings are more likely to be made up of accruals.
Angel Wing Metals Sloan Ratio % Historical Data
The historical data trend for Angel Wing Metals'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 Angel Wing Metals's Sloan Ratio %
For the Other Precious Metals & Mining subindustry, Angel Wing Metals'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.
Angel Wing Metals's Sloan Ratio % Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Angel Wing Metals's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Angel Wing Metals's Sloan Ratio % falls into.
Angel Wing Metals 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.
Angel Wing Metals's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Angel Wing Metals's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was -0.187 (Mar. 2023 ) + -0.538 (Jun. 2023 ) + -0.237 (Sep. 2023 ) + -2.824 (Dec. 2023 ) = C$-3.79 Mil.
Angel Wing Metals's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was -0.291 (Mar. 2023 ) + 0.012 (Jun. 2023 ) + -0.579 (Sep. 2023 ) + -2.39 (Dec. 2023 ) = C$-3.25 Mil.
Angel Wing Metals's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was 1.872 (Mar. 2023 ) + -0.488 (Jun. 2023 ) + -0.587 (Sep. 2023 ) + 1.792 (Dec. 2023 ) = C$2.59 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.
Angel Wing Metals (TSXV:AWM) 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, Angel Wing Metals has a Sloan Ratio of -106.00%, indicating earnings are more likely to be made up of accruals.
Angel Wing Metals Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Angel Wing Metals's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Angel Wing Metals Inc is focused on the exploration and development of its portfolio of precious metals properties in Mexico and Canada. The company's flagship El Grande gold project covers approximately 550 square kilometers in the southern extension of the prolific Sierra Madre Occidental gold-silver belt in the state of Nayarit, Mexico, and demonstrates significant gold and silver mineralization. It also owns two early-stage gold exploration projects in Northwestern Ontario. The Winora Project is located near Lingman lake, 325 km north of Red Lake, and Quartz Lake Project which is located 50km east of the prolific Red Lake district. The Company operates in one industry segment, namely the exploration of mineral resources in two geographic regions, Canada and Mexico.
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