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.
Media Prima Bhd's Sloan Ratio for the quarter that ended in Dec. 2023 was 0.00%.
As of Dec. 2023, Media Prima Bhd has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Media Prima Bhd Sloan Ratio % Historical Data
The historical data trend for Media Prima Bhd'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 Media Prima Bhd's Sloan Ratio %
For the Entertainment subindustry, Media Prima Bhd'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.
Media Prima Bhd's Sloan Ratio % Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Media Prima Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Media Prima Bhd's Sloan Ratio % falls into.
Media Prima Bhd 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.
Media Prima Bhd's Sloan Ratio for the fiscal year that ended in Dec. 2020 is calculated as
Media Prima Bhd's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 7.163 (Sep. 2022 ) + 3.94 (Mar. 2023 ) + 14.056 (Sep. 2023 ) + 10.713 (Dec. 2023 ) = RM35.9 Mil.
Media Prima Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 17.137 (Sep. 2022 ) + 0 (Mar. 2023 ) + 17.895 (Sep. 2023 ) + 63.55 (Dec. 2023 ) = RM98.6 Mil.
Media Prima Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -26.588 (Sep. 2022 ) + 0 (Mar. 2023 ) + -20.104 (Sep. 2023 ) + -16.536 (Dec. 2023 ) = RM-63.2 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.
Media Prima Bhd (XKLS:4502) 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, Media Prima Bhd has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Media Prima Bhd Sloan Ratio % Related Terms
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Media Prima Bhd is an integrated media company. It is engaged in commercial television and radio broadcasting, publishing, editorial services, provision of internet-based online services, general media advertising, provision of advertising space and related production works, sale of programme rights, cable and streaming rights, content production, property management services, procurement services and other media industry-related services. The company owns free-to-air television stations namely TV3, 8TV, ntv7 and TV9. It manages its business in seven segments namely Omnia, Broadcasting, Outdoor Media, Print Media, Digital Media, Content Creation, and Home Shopping. The company's majority of the revenue is generated from the Omnia segment.
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