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 Sep. 2024, Polyplex (Thailand) PCL has a Sloan Ratio of 5.31%, indicating the company is in the safe zone and there is no funny business with accruals.
Polyplex (Thailand) PCL 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 Polyplex (Thailand) PCL's Sloan Ratio %
For the Specialty Chemicals subindustry, Polyplex (Thailand) 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.
Polyplex (Thailand) PCL's Sloan Ratio % Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Polyplex (Thailand) PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Polyplex (Thailand) PCL's Sloan Ratio % falls into.
Polyplex (Thailand) 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.
Polyplex (Thailand) PCL's Sloan Ratio for the fiscal year that ended in Mar. 2024 is calculated as
Polyplex (Thailand) PCL's Net Income for the trailing twelve months (TTM) ended in Sep. 2024 was 75.657 (Dec. 2023 ) + 167.028 (Mar. 2024 ) + 349.279 (Jun. 2024 ) + 612.776 (Sep. 2024 ) = ฿1,205 Mil.
Polyplex (Thailand) PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2024 was 516.814 (Dec. 2023 ) + 46.444 (Mar. 2024 ) + 157.632 (Jun. 2024 ) + 929.475 (Sep. 2024 ) = ฿1,650 Mil.
Polyplex (Thailand) PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2024 was -753.795 (Dec. 2023 ) + -513.401 (Mar. 2024 ) + -218.233 (Jun. 2024 ) + -312.409 (Sep. 2024 ) = ฿-1,798 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.
Polyplex (Thailand) PCL (BKK:PTL) 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. 2024, Polyplex (Thailand) PCL has a Sloan Ratio of 5.31%, indicating the company is in the safe zone and there is no funny business with accruals.
Polyplex (Thailand) PCL Sloan Ratio % Related Terms
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Polyplex (Thailand) PCL is a Thailand-based company which is engaged in the manufacturing and distribution of polyester films, metallized films, extrusion coated films, cast polypropylene films, silicone coated films and PET resins. The company produces a various line of products such as Bopet films, CPP (Cast Polypropylene) films, Blown PP films, one or two-sided coated release films and extrusion coated film under the banner of Sarafil, Saracote, and Saralam. It has a single industry segmen being the manufacture and distribution of polyester films, metallised films, extrusion coated films, cast polypropylene films, silicone coated films, blown films, holographic films, and PET resins. Geographically, it generates a majority of revenue from the Overseas countries.
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