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.
Symetra Financial's Sloan Ratio for the quarter that ended in Sep. 2015 was 4.77%.
As of Sep. 2015, Symetra Financial has a Sloan Ratio of 4.77%, indicating the company is in the safe zone and there is no funny business with accruals.
Symetra Financial Sloan Ratio % Historical Data
The historical data trend for Symetra Financial'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 Symetra Financial's Sloan Ratio %
For the Insurance - Life subindustry, Symetra Financial'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.
Symetra Financial's Sloan Ratio % Distribution in the Insurance Industry
For the Insurance industry and Financial Services sector, Symetra Financial's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Symetra Financial's Sloan Ratio % falls into.
Symetra Financial 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.
Symetra Financial's Sloan Ratio for the fiscal year that ended in Dec. 2014 is calculated as
Symetra Financial's Net Income for the trailing twelve months (TTM) ended in Sep. 2015 was 67.6 (Dec. 2014 ) + 38.8 (Mar. 2015 ) + 31.2 (Jun. 2015 ) + 19.6 (Sep. 2015 ) = $157 Mil.
Symetra Financial's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2015 was 264.5 (Dec. 2014 ) + 231.3 (Mar. 2015 ) + 274.3 (Jun. 2015 ) + 247.5 (Sep. 2015 ) = $1,018 Mil.
Symetra Financial's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2015 was -289.1 (Dec. 2014 ) + -459.6 (Mar. 2015 ) + -721.5 (Jun. 2015 ) + -1057.9 (Sep. 2015 ) = $-2,528 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.
Symetra Financial (NYSE:SYA) 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 Sep. 2015, Symetra Financial has a Sloan Ratio of 4.77%, indicating the company is in the safe zone and there is no funny business with accruals.
Symetra Financial Sloan Ratio % Related Terms
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Symetra Financial (Symetra Financial) Business Description
Symetra Financial Corp was incorporated in 2004 under the laws of Delaware. It is a financial services company in the life insurance industry. Its products are distributed domestically in all states and the District of Columbia, through benefits consultants, financial institutions, and independent agents and advisers. The Company manages its business through three divisions, namely The Benefits division, which includes the Benefits segment, provides medical stop-loss insurance, group life and disability income (DI) insurance, and limited benefit medical insurance as its principal products; The Retirement division, which includes the Deferred Annuities and Income Annuities segments, provides single-premium fixed deferred annuities (fixed annuities, including fixed indexed annuities), variable deferred annuities and single premium immediate annuities (SPIAs) as its principal products; The Individual Life Division, which includes the Individual Life segment, offers retail products, such as universal life (UL) and term life insurance, and products sold to institutions, including bank-owned life insurance (BOLI) and variable corporate-owned life Insurance (COLI), as its principal products. The Company faces significant competition for customers and distributors from insurance and other non-insurance financial services companies, such as banks, broker-dealers and asset managers, in each of its businesses. The Company's insurance operations are subject to a wide variety of laws and regulations.
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