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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.
IRSA Propiedades Comerciales (BUE:IRCP) 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. 2021, IRSA Propiedades Comerciales has a Sloan Ratio of -23.65%, indicating there is a warning stage of accrual build up.
IRSA Propiedades Comerciales Sloan Ratio % Related Terms
IRSA Propiedades Comerciales 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.
BUE:IRCP vs TCI, QK, NEN: Sloan Ratio % Comparison
For the Real Estate Services subindustry, IRSA Propiedades Comerciales'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.
IRSA Propiedades Comerciales Sloan Ratio % vs Real Estate Industry
For the Real Estate industry and Real Estate sector, IRSA Propiedades Comerciales's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where IRSA Propiedades Comerciales's Sloan Ratio % falls into.
IRSA Propiedades Comerciales 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.
IRSA Propiedades Comerciales's Net Income for the trailing twelve months (TTM) ended in Sep. 2021 was -8987 (Dec. 2020 ) + -10158 (Mar. 2021 ) + -17153 (Jun. 2021 ) + -1709 (Sep. 2021 ) = ARS-38,007 Mil.
IRSA Propiedades Comerciales's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2021 was 581 (Dec. 2020 ) + 8398 (Mar. 2021 ) + -1825 (Jun. 2021 ) + 1614 (Sep. 2021 ) = ARS8,768 Mil.
IRSA Propiedades Comerciales's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2021 was 1357 (Dec. 2020 ) + -9368 (Mar. 2021 ) + 3851 (Jun. 2021 ) + 1549 (Sep. 2021 ) = ARS-2,611 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.
IRSA Propiedades Comerciales (BUE:IRCP) has a Sloan Ratio % of -23.65% as of Sep. 2021. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on IRSA Propiedades Comerciales and its competitors.
Is IRSA Propiedades Comerciales' Sloan Ratio % too high?
IRSA Propiedades Comerciales' current Sloan Ratio % is -23.65%. Overall, IRSA Propiedades Comerciales has a GF Score™ of 5/100, reflecting its overall financial health beyond just this single metric.
How does IRSA Propiedades Comerciales' Sloan Ratio % compare to TCI and QK?
IRSA Propiedades Comerciales' Sloan Ratio % of -23.65% can be compared against companies in the Real Estate industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for a Real Estate company?
A good Sloan Ratio % depends on the Real Estate industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on IRSA Propiedades Comerciales and its competitors. IRSA Propiedades Comerciales's current Sloan Ratio % is -23.65%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IRSA Propiedades Comerciales stock overvalued right now?
IRSA Propiedades Comerciales (BUE:IRCP) has a current Sloan Ratio % of -23.65%. The current Sloan Ratio % is -23.65%. IRSA Propiedades Comerciales' overall GF Score™ is 5/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For IRSA Propiedades Comerciales (BUE:IRCP), the current Sloan Ratio % is -23.65% as of Sep. 2021. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
IRSA Propiedades Comerciales SA is engaged in the ownership, lease, management, development, operation, and purchase of shopping centers. Its primarily owns, purchases, develops, leases, manages and operates shopping centers. Its business segments include Shopping Malls, Offices, Sales and Developments, and Others. The Shopping Malls segment is a key revenue driver, is engaged in the operation and development of shopping malls. Offices and Others segment consists of leasing of properties and other rental properties and services related to them. Its Sales and Development segment covers sales of undeveloped parcels of land and properties and activities relating to property maintenance.
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