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.
Jewett-Cameron Trading Co's Sloan Ratio for the quarter that ended in Nov. 2023 was -26.96%.
As of Nov. 2023, Jewett-Cameron Trading Co has a Sloan Ratio of -26.96%, indicating there is a warning stage of accrual build up.
Jewett-Cameron Trading Co Sloan Ratio % Historical Data
The historical data trend for Jewett-Cameron Trading Co'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.
* Premium members only.
Jewett-Cameron Trading Co Annual Data
Trend
Aug14
Aug15
Aug16
Aug17
Aug18
Aug19
Aug20
Aug21
Aug22
Aug23
Sloan Ratio %
-20.25
23.41
31.13
16.99
-17.99
Jewett-Cameron Trading Co Quarterly Data
Feb19
May19
Aug19
Nov19
Feb20
May20
Aug20
Nov20
Feb21
May21
Aug21
Nov21
Feb22
May22
Aug22
Nov22
Feb23
May23
Aug23
Nov23
Sloan Ratio %
10.32
-0.38
-5.70
-17.99
-26.96
Competitive Comparison
For the Lumber & Wood Production subindustry, Jewett-Cameron Trading Co'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.
Jewett-Cameron Trading Co Sloan Ratio % Distribution
For the Forest Products industry and Basic Materials sector, Jewett-Cameron Trading Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Jewett-Cameron Trading Co's Sloan Ratio % falls into.
Jewett-Cameron Trading Co 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.
Jewett-Cameron Trading Co's Sloan Ratio for the fiscal year that ended in Aug. 2023 is calculated as
Jewett-Cameron Trading Co's Net Income for the trailing twelve months (TTM) ended in Nov. 2023 was -0.972 (Feb. 2023 ) + 0.735 (May. 2023 ) + 0.29 (Aug. 2023 ) + 1.292 (Nov. 2023 ) = $1.35 Mil.
Jewett-Cameron Trading Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Nov. 2023 was -2.109 (Feb. 2023 ) + 2.964 (May. 2023 ) + 4.046 (Aug. 2023 ) + 4.632 (Nov. 2023 ) = $9.53 Mil.
Jewett-Cameron Trading Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Nov. 2023 was -0.265 (Feb. 2023 ) + -0.017 (May. 2023 ) + 0.062 (Aug. 2023 ) + 0.102 (Nov. 2023 ) = $-0.12 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.
Jewett-Cameron Trading Co (NAS:JCTCF) 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 Nov. 2023, Jewett-Cameron Trading Co has a Sloan Ratio of -26.96%, indicating there is a warning stage of accrual build up.
Jewett-Cameron Trading Co Sloan Ratio % Related Terms
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Jewett-Cameron Trading Co (Jewett-Cameron Trading Co) Business Description
Jewett-Cameron Trading Co Ltd through its subsidiaries engages in the wholesale distribution of a variety of specialty wood products. Its operating segments include, The Industrial wood products segment is engaged in the processing and distribution of industrial wood products. The Pet Fencing and Other segment, which is the key revenue driver, operates as a wholesaler of wood products and a manufacturer and distributor of specialty metal products. The Seed processing and sales segment processes and distributes agricultural seed and Corporate and administrative. The company predominantly operates in United States and also has its presence in Canada, Latin America, Europe and Asia and other regions.
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