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.
Central Pattana PCL's Sloan Ratio for the quarter that ended in Mar. 2024 was 0.79%.
As of Mar. 2024, Central Pattana PCL has a Sloan Ratio of 0.79%, indicating the company is in the safe zone and there is no funny business with accruals.
Central Pattana PCL Sloan Ratio % Historical Data
The historical data trend for Central Pattana PCL'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 Central Pattana PCL's Sloan Ratio %
For the Real Estate - Diversified subindustry, Central Pattana PCL'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.
Central Pattana PCL's Sloan Ratio % Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Central Pattana PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Central Pattana PCL's Sloan Ratio % falls into.
Central Pattana PCL 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.
Central Pattana PCL's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Central Pattana PCL's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 3677.832 (Jun. 2023 ) + 4161.641 (Sep. 2023 ) + 3976.263 (Dec. 2023 ) + 4154.167 (Mar. 2024 ) = ฿15,970 Mil.
Central Pattana PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 4989.059 (Jun. 2023 ) + 5822.553 (Sep. 2023 ) + 5719.926 (Dec. 2023 ) + 6442.588 (Mar. 2024 ) = ฿22,974 Mil.
Central Pattana PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -2152.412 (Jun. 2023 ) + -2184.051 (Sep. 2023 ) + -1645.479 (Dec. 2023 ) + -3337.908 (Mar. 2024 ) = ฿-9,320 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.
Central Pattana PCL (BKK:CPN-R) 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. 2024, Central Pattana PCL has a Sloan Ratio of 0.79%, indicating the company is in the safe zone and there is no funny business with accruals.
Central Pattana PCL Sloan Ratio % Related Terms
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Central Pattana PCL (BKK:CPN-R) Business Description
Central Pattana PCL develops and manages large-scale shopping complexes, office buildings, and hotels. The company segment includes Development of shopping center buildings, office building and condominiums for rent including provision of utility services, operator of play land and water theme park in the shopping center buildings; Food center services in the shopping centers; Hotel business and Real estate business for sales of land and houses and condominium units.
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