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.
Gazprom PJSC's Sloan Ratio for the quarter that ended in Jun. 2023 was 0.00%.
As of Jun. 2023, Gazprom PJSC has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Gazprom PJSC Sloan Ratio % Historical Data
The historical data trend for Gazprom PJSC'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 Gazprom PJSC's Sloan Ratio %
For the Oil & Gas Integrated subindustry, Gazprom PJSC'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.
Gazprom PJSC's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Gazprom PJSC's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Gazprom PJSC's Sloan Ratio % falls into.
Gazprom PJSC 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.
Gazprom PJSC's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as
Gazprom PJSC's Net Income for the trailing twelve months (TTM) ended in Jun. 2023 was 741388.31 (Dec. 2021 ) + 1961425.32 (Jun. 2022 ) + 0 (Dec. 2022 ) + -54938.087 (Jun. 2023 ) = ARS2,647,876 Mil.
Gazprom PJSC's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2023 was 1684204.785 (Dec. 2021 ) + 0 (Jun. 2022 ) + 0 (Dec. 2022 ) + 0 (Jun. 2023 ) = ARS1,684,205 Mil.
Gazprom PJSC's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2023 was -767967.933 (Dec. 2021 ) + 0 (Jun. 2022 ) + 0 (Dec. 2022 ) + 0 (Jun. 2023 ) = ARS-767,968 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.
Gazprom PJSC (BUE:OGZD LI) 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 Jun. 2023, Gazprom PJSC has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Gazprom PJSC Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Gazprom PJSC's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Gazprom PJSC is a Russian-based integrated oil and gas company in which the Russian government is a majority shareholder. Much of the business lies within the production, transportation, and distribution of natural gas. The company is a major gas supplier to European countries, with substantial gas pipelines throughout Western Russia and into Europe. While its oil segment is a smaller portion of revenue, the company is still integrated into the production, processing, and refinement of crude oil and refined products. Across both segments, the company produces its oil and gas from fields distributed across Russia, with end markets consisting mostly of Europe and Russia.
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