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.
PubliGroupe's Sloan Ratio for the quarter that ended in Dec. 2013 was 10.22%.
As of Dec. 2013, PubliGroupe has a Sloan Ratio of 10.22%, indicating there is a warning stage of accrual build up.
PubliGroupe Sloan Ratio % Historical Data
The historical data trend for PubliGroupe'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 PubliGroupe's Sloan Ratio %
For the Advertising Agencies subindustry, PubliGroupe'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.
PubliGroupe's Sloan Ratio % Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, PubliGroupe's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PubliGroupe's Sloan Ratio % falls into.
PubliGroupe 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.
PubliGroupe's Sloan Ratio for the fiscal year that ended in Dec. 2013 is calculated as
For company reported annually, GuruFocus uses latest annual data as the TTM data.
PubliGroupe's Net Income for the trailing twelve months (TTM) ended in Dec. 2013 was CHF-5.9 Mil.
PubliGroupe's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2013 was CHF-21.7 Mil.
PubliGroupe's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2013 was CHF-30.8 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.
PubliGroupe (XSWX:PUBN) 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. 2013, PubliGroupe has a Sloan Ratio of 10.22%, indicating there is a warning stage of accrual build up.
PubliGroupe Sloan Ratio % Related Terms
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PubliGroupe SA is engaged in sale of advertising space in Switzerland and abroad. It is a provider of marketing and media sales services. The Company operates in the following segments: Search & Find; Media Sales, and Digital & Marketing Services, Corporate and Others. The Search & Find is active in Switzerland and France. It produces and sells instruments facilitating the search for persons, companies, products and services. The printed and interactive directories are the foundation of the Search & Find platform. This platform is supplemented by offers of additional services such as leisure, guides and classified. Media Sales offers all media sales activities (print, electronic, digital & interactive media) in Switzerland and abroad. It is based on partnerships with the media established now for many years. Digital & Marketing Services brings together an international and interactive marketing services portfolio for advertising customers and agencies, including consultancy for the development and implementation of efficient communication and media strategies as well as online marketing platforms deploying access to a wide range of marketing channels. Corporate and Others" includes the Group general management costs, corporate support to develop new activities, real estate management and companies that fall outside the three other operating segments.
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