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.
John Wiley & Sons's Sloan Ratio for the quarter that ended in Jan. 2024 was -11.38%.
As of Jan. 2024, John Wiley & Sons has a Sloan Ratio of -11.38%, indicating there is a warning stage of accrual build up.
John Wiley & Sons Sloan Ratio % Historical Data
The historical data trend for John Wiley & Sons'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 John Wiley & Sons's Sloan Ratio %
For the Publishing subindustry, John Wiley & Sons'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.
John Wiley & Sons's Sloan Ratio % Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, John Wiley & Sons's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where John Wiley & Sons's Sloan Ratio % falls into.
John Wiley & Sons 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.
John Wiley & Sons's Sloan Ratio for the fiscal year that ended in Apr. 2023 is calculated as
John Wiley & Sons's Net Income for the trailing twelve months (TTM) ended in Jan. 2024 was 68.344 (Apr. 2023 ) + -92.264 (Jul. 2023 ) + -19.445 (Oct. 2023 ) + -113.875 (Jan. 2024 ) = $-157 Mil.
John Wiley & Sons's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jan. 2024 was 223.353 (Apr. 2023 ) + -82.335 (Jul. 2023 ) + -1.151 (Oct. 2023 ) + 107.838 (Jan. 2024 ) = $248 Mil.
John Wiley & Sons's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jan. 2024 was -18.326 (Apr. 2023 ) + -25.742 (Jul. 2023 ) + -26.175 (Oct. 2023 ) + -26.576 (Jan. 2024 ) = $-97 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.
John Wiley & Sons (NYSE:WLY) 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 Jan. 2024, John Wiley & Sons has a Sloan Ratio of -11.38%, indicating there is a warning stage of accrual build up.
John Wiley & Sons Sloan Ratio % Related Terms
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John Wiley & Sons (John Wiley & Sons) Business Description
John Wiley & Sons Inc is one of the foremost global providers of academic journals, books, pre- and post-hire assessments and training, test preparation materials, and online education program management solutions. Wiley derived more than 85% of its total revenue from digital products and tech-enabled services, The company has reorganized our Education lines of business into two new customer-centric segments. The Academic segment addresses the university customer group and includes Academic Publishing and University Services. The Talent segment addresses the corporate customer group and is focused on delivering training, sourcing, and upskilling solutions.
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