What is Niska Gas Storage Partners LLC 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.
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Niska Gas Storage Partners LLC Sloan Ratio % Chart
Competitive Comparison of Niska Gas Storage Partners LLC's Sloan Ratio %
For the Oil & Gas Midstream subindustry, Niska Gas Storage Partners LLC'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.
Niska Gas Storage Partners LLC's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Niska Gas Storage Partners LLC's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Niska Gas Storage Partners LLC's Sloan Ratio % falls into.
Niska Gas Storage Partners LLC 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.
Niska Gas Storage Partners LLC's Net Income for the trailing twelve months (TTM) ended in Mar. 2016 was -36.733 (Jun. 2015 ) + -19.256 (Sep. 2015 ) + -20.614 (Dec. 2015 ) + -24.867 (Mar. 2016 ) = $-101.47 Mil.
Niska Gas Storage Partners LLC's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2016 was 27.306 (Jun. 2015 ) + 5.241 (Sep. 2015 ) + 1.79 (Dec. 2015 ) + 22.968 (Mar. 2016 ) = $57.31 Mil.
Niska Gas Storage Partners LLC's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2016 was -0.609 (Jun. 2015 ) + -0.272 (Sep. 2015 ) + -1.407 (Dec. 2015 ) + -0.845 (Mar. 2016 ) = $-3.13 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.
Niska Gas Storage Partners LLC (NYSE:NKA) 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. 2016, Niska Gas Storage Partners LLC has a Sloan Ratio of -15.69%, indicating there is a warning stage of accrual build up.
Niska Gas Storage Partners LLC Sloan Ratio % Related Terms
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Niska Gas Storage Partners LLC (Niska Gas Storage Partners LLC) Business Description
Niska Gas Storage Partners LLC was founded in 2006. The Company owns and operates natural gas storage assets. It owns or contracts for approximately 244.9 billion cubic feet, or Bcf, of total natural gas storage capacity. Its assets are located in key North American natural gas producing and consuming regions and are connected at points on the natural gas transmission network, providing access to multiple end-use markets. The Company stores natural gas for customers, including financial institutions, marketers, pipelines, power generators, utilities and producers of natural gas. Its gas storage customers include a broad mix of natural gas market participants, including financial institutions, producers, marketers, power generators, pipelines and municipalities. Its competitors include The Company's operations are subject to governmental laws and regulations.
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