What is Del Frisco′s Restaurant Group Sloan Ratio %?
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.
* 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 Del Frisco′s Restaurant Group's Sloan Ratio %
For the Restaurants subindustry, Del Frisco′s Restaurant Group'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.
Del Frisco′s Restaurant Group's Sloan Ratio % Distribution in the Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Del Frisco′s Restaurant Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Del Frisco′s Restaurant Group's Sloan Ratio % falls into.
Del Frisco′s Restaurant Group 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.
Del Frisco′s Restaurant Group's Net Income for the trailing twelve months (TTM) ended in Jun. 2019 was -67.074 (Sep. 2018 ) + -8.067 (Dec. 2018 ) + -18.327 (Mar. 2019 ) + -6.398 (Jun. 2019 ) = $-99.9 Mil.
Del Frisco′s Restaurant Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2019 was -0.136 (Sep. 2018 ) + 3.002 (Dec. 2018 ) + -3.372 (Mar. 2019 ) + 4.569 (Jun. 2019 ) = $4.1 Mil.
Del Frisco′s Restaurant Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2019 was -328.031 (Sep. 2018 ) + -21.945 (Dec. 2018 ) + -15.299 (Mar. 2019 ) + -12.356 (Jun. 2019 ) = $-377.6 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.
Del Frisco′s Restaurant Group (NAS:DFRG) 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 Jun. 2019, Del Frisco′s Restaurant Group has a Sloan Ratio of 30.53%, indicating earnings are more likely to be made up of accruals.
Del Frisco′s Restaurant Group Sloan Ratio % Related Terms
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Del Frisco′s Restaurant Group (Del Frisco′s Restaurant Group) Business Description
Del Frisco's Restaurant Group Inc owns and operates roughly 50 restaurants under three different names: Del Frisco's Double Eagle Steak House, a fine-dining restaurant that accounts for approximately half of the company's total sales; Sullivan's Steakhouse, a similar concept to Del Frisco's Steak House that offers a lower price point; and Del Frisco's Grille, an upscale casual restaurant with a broader menu that includes less expensive items. The company operates exclusively in the United States. The company purchases beef and seafood at the national level for all of its restaurants; other products are sourced locally by each restaurant's chef.
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