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.
VOXX International's Sloan Ratio for the quarter that ended in Nov. 2023 was -10.06%.
As of Nov. 2023, VOXX International has a Sloan Ratio of -10.06%, indicating there is a warning stage of accrual build up.
VOXX International Sloan Ratio % Historical Data
The historical data trend for VOXX International'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 VOXX International's Sloan Ratio %
For the Consumer Electronics subindustry, VOXX International'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.
VOXX International's Sloan Ratio % Distribution in the Hardware Industry
For the Hardware industry and Technology sector, VOXX International's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where VOXX International's Sloan Ratio % falls into.
VOXX International 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.
VOXX International's Sloan Ratio for the fiscal year that ended in Feb. 2023 is calculated as
VOXX International's Net Income for the trailing twelve months (TTM) ended in Nov. 2023 was -19.254 (Feb. 2023 ) + -10.738 (May. 2023 ) + -11.064 (Aug. 2023 ) + 1.912 (Nov. 2023 ) = $-39.1 Mil.
VOXX International's Cash Flow from Operations for the trailing twelve months (TTM) ended in Nov. 2023 was 10.093 (Feb. 2023 ) + 5.253 (May. 2023 ) + -2.692 (Aug. 2023 ) + 0.959 (Nov. 2023 ) = $13.6 Mil.
VOXX International's Cash Flow from Investing for the trailing twelve months (TTM) ended in Nov. 2023 was -0.624 (Feb. 2023 ) + -0.784 (May. 2023 ) + -0.177 (Aug. 2023 ) + -1.012 (Nov. 2023 ) = $-2.6 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.
VOXX International (NAS:VOXX) 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, VOXX International has a Sloan Ratio of -10.06%, indicating there is a warning stage of accrual build up.
VOXX International Sloan Ratio % Related Terms
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VOXX International (VOXX International) Business Description
VOXX International Corp manufacturer and distributor in the Automotive Electronics, Consumer Electronics, and Biometrics industries. The consumer electronic products primarily consist of finished goods sold to retail and commercial customers, consisting of premium audio and other consumer electronic products. Automotive products, some of which are manufactured by the Company, are sold both to OEM and aftermarket customers. Biometric products, primarily consisting of finished goods, are sold to retail and commercial customers.
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