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.
As of Dec. 2023, Charter Hall Retail REIT has a Sloan Ratio of -6.58%, indicating the company is in the safe zone and there is no funny business with accruals.
Charter Hall Retail REIT Sloan Ratio % Historical Data
* 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 Charter Hall Retail REIT's Sloan Ratio %
For the REIT - Retail subindustry, Charter Hall Retail REIT'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.
Charter Hall Retail REIT's Sloan Ratio % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Charter Hall Retail REIT's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Charter Hall Retail REIT's Sloan Ratio % falls into.
Charter Hall Retail REIT 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.
Charter Hall Retail REIT's Sloan Ratio for the fiscal year that ended in Jun. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Charter Hall Retail REIT's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was -87 (Jun. 2023 ) + -42.1 (Dec. 2023 ) = A$-129.1 Mil.
Charter Hall Retail REIT's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 81.5 (Jun. 2023 ) + 71.8 (Dec. 2023 ) = A$153.3 Mil.
Charter Hall Retail REIT's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -38.1 (Jun. 2023 ) + 17.4 (Dec. 2023 ) = A$-20.7 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.
Charter Hall Retail REIT (ASX:CQR) 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 Dec. 2023, Charter Hall Retail REIT has a Sloan Ratio of -6.58%, indicating the company is in the safe zone and there is no funny business with accruals.
Charter Hall Retail REIT Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Charter Hall Retail REIT's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Charter Hall Retail REIT (ASX:CQR) Business Description
Charter Hall Retail Retail REIT owns and manages a portfolio of convenience focused retail properties, including neighbourhood and subregional shopping centres, service stations, and some retail logistics properties. The REIT is managed by Charter Hall, a listed, diversified fund manager and developer, which owns a minority stake in Charter Hall Retail REIT and frequently partners with it on acquisitions and developments. More than half of rental income comes from major tenants Woolworths, Coles, Wesfarmers, Ampol, and BP (the latter two occupy service station assets). The portfolio is more seasoned than some convenience rivals, with approximately 80% of supermarket tenants at or near thresholds for paying turnover-linked rent.
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