Heng Leasing and Capital PCL (BKK:HENG) Sloan Ratio % : 11.19% (As of Mar. 2024)

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What is Heng Leasing and Capital PCL 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.

Heng Leasing and Capital PCL's Sloan Ratio for the quarter that ended in Mar. 2024 was 11.19%.

As of Mar. 2024, Heng Leasing and Capital PCL has a Sloan Ratio of 11.19%, indicating there is a warning stage of accrual build up.

Heng Leasing and Capital PCL Sloan Ratio % Historical Data

The historical data trend for Heng Leasing and Capital 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.

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Heng Leasing and Capital PCL Sloan Ratio % Chart

Heng Leasing and Capital PCL Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Sloan Ratio %

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-1.17

0.06

6.34

20.62

15.84

Heng Leasing and Capital PCL Quarterly Data
	Dec17	Dec18	Dec19	Jun20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Sloan Ratio %	Get a 7-Day Free Trial													20.56	20.09	18.78	15.84	11.19

Competitive Comparison of Heng Leasing and Capital PCL's Sloan Ratio %

For the Credit Services subindustry, Heng Leasing and Capital 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.

Heng Leasing and Capital PCL's Sloan Ratio % Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, Heng Leasing and Capital PCL's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Heng Leasing and Capital PCL's Sloan Ratio % falls into.

Heng Leasing and Capital 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.

Heng Leasing and Capital PCL's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Sloan Ratio	=	(Net Income (A: Dec. 2023 )	-	Cash Flow from Operations (A: Dec. 2023 )
	-	Cash Flow from Investing (A: Dec. 2023 ))	/	Total Assets (A: Dec. 2023 )
	=	(422.008	-	-2000.467
	-	-60.12)	/	15673.196
	=	15.84%

Heng Leasing and Capital PCL's Sloan Ratio for the quarter that ended in Mar. 2024 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Mar. 2024 )
	=	(343.64	-	-1317.047
	-	-59.381)	/	15370.271
	=	11.19%

Heng Leasing and Capital PCL's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 80.528 (Jun. 2023 ) + 81.206 (Sep. 2023 ) + 159.311 (Dec. 2023 ) + 22.595 (Mar. 2024 ) = ฿344 Mil.
Heng Leasing and Capital PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was -596.905 (Jun. 2023 ) + -660.638 (Sep. 2023 ) + -224.133 (Dec. 2023 ) + 164.629 (Mar. 2024 ) = ฿-1,317 Mil.
Heng Leasing and Capital PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -13.14 (Jun. 2023 ) + -9.874 (Sep. 2023 ) + -7.486 (Dec. 2023 ) + -28.881 (Mar. 2024 ) = ฿-59 Mil.

Heng Leasing and Capital PCL (BKK:HENG) 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.

According to How to Beat the Market with the Sloan Ratio:

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, Heng Leasing and Capital PCL has a Sloan Ratio of 11.19%, indicating there is a warning stage of accrual build up.

Heng Leasing and Capital PCL Sloan Ratio % Related Terms

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Heng Leasing and Capital PCL (BKK:HENG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Heng Leasing and Capital PCL (BKK:HENG) » Definitions » Sloan Ratio %

Comparable Companies

Traded in Other Exchanges

N/A

Address

69 Moo 7, Tambon Sansai Noi, Amphur Sansai, Chiang Mai, THA, 50210

Website

https://www.hengleasing.com

Heng Leasing and Capital PCL is engaged in the single operating segment of hire purchase and loan receivables. The operations are carried on in a single geographical area of Thailand.

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