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.
USD Partners LP's Sloan Ratio for the quarter that ended in Sep. 2023 was -36.82%.
As of Sep. 2023, USD Partners LP has a Sloan Ratio of -36.82%, indicating there is a warning stage of accrual build up.
USD Partners LP Sloan Ratio % Historical Data
The historical data trend for USD Partners LP'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 USD Partners LP's Sloan Ratio %
For the Railroads subindustry, USD Partners LP'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.
USD Partners LP's Sloan Ratio % Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, USD Partners LP's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where USD Partners LP's Sloan Ratio % falls into.
USD Partners LP 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.
USD Partners LP's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as
USD Partners LP's Net Income for the trailing twelve months (TTM) ended in Sep. 2023 was -3.211 (Dec. 2022 ) + 1.975 (Mar. 2023 ) + 4.635 (Jun. 2023 ) + -2.805 (Sep. 2023 ) = $0.59 Mil.
USD Partners LP's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2023 was 8.272 (Dec. 2022 ) + -0.582 (Mar. 2023 ) + -1.306 (Jun. 2023 ) + 0.868 (Sep. 2023 ) = $7.25 Mil.
USD Partners LP's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2023 was -0.088 (Dec. 2022 ) + 32.275 (Mar. 2023 ) + -0.055 (Jun. 2023 ) + -0.266 (Sep. 2023 ) = $31.87 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.
USD Partners LP (OTCPK:USDP) 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 Sep. 2023, USD Partners LP has a Sloan Ratio of -36.82%, indicating there is a warning stage of accrual build up.
USD Partners LP Sloan Ratio % Related Terms
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USD Partners LP (USD Partners LP) Business Description
USD Partners LP is formed to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The company's network of crude oil terminals facilitates the transportation of heavy crude oil from Western Canada to key demand centers across North America. The company's operations include railcar loading and unloading, storage and blending in onsite tanks, inbound and outbound pipeline connectivity, truck transloading, and other related logistics services. The company also provides one of the customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons by rail. The company manages its business in two reportable segments: Terminalling services and Fleet services.
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