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.
Amyris's Sloan Ratio for the quarter that ended in Mar. 2023 was -10.28%.
As of Mar. 2023, Amyris has a Sloan Ratio of -10.28%, indicating there is a warning stage of accrual build up.
Amyris Sloan Ratio % Historical Data
The historical data trend for Amyris'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.
For the Specialty Chemicals subindustry, Amyris'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.
Amyris's Sloan Ratio % Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Amyris's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Amyris's Sloan Ratio % falls into.
Amyris 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.
Amyris's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as
Amyris's Net Income for the trailing twelve months (TTM) ended in Mar. 2023 was -110.013 (Jun. 2022 ) + -161.395 (Sep. 2022 ) + -149.797 (Dec. 2022 ) + -193.342 (Mar. 2023 ) = $-614.5 Mil.
Amyris's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2023 was -147.041 (Jun. 2022 ) + -133.534 (Sep. 2022 ) + -92.877 (Dec. 2022 ) + -90.001 (Mar. 2023 ) = $-463.5 Mil.
Amyris's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2023 was -41.936 (Jun. 2022 ) + -30.086 (Sep. 2022 ) + -4.399 (Dec. 2022 ) + -4.815 (Mar. 2023 ) = $-81.2 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.
Amyris (OTCPK:AMRSQ) 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. 2023, Amyris has a Sloan Ratio of -10.28%, indicating there is a warning stage of accrual build up.
Amyris Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Amyris's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Amyris Inc is an industrial biotechnology company. It is engaged in the engineering, manufacturing, and sales of products in a variety of consumer and industrial markets, including cosmetics, flavors and fragrances, solvents and cleaners, polymers, lubricants, healthcare products, and fuels. The business operations are spread across the world with the majority of the revenues generated in the United States. The company generates revenue from the sale of renewable products, licenses of and royalties from intellectual property, and grants, and collaborative research and development services.
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