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.
Corby Spirit and Wine's Sloan Ratio for the quarter that ended in Dec. 2023 was 25.82%.
Warning Sign:
When sloan ratio (25.79)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.
As of Dec. 2023, Corby Spirit and Wine has a Sloan Ratio of 25.82%, indicating earnings are more likely to be made up of accruals.
Corby Spirit and Wine Sloan Ratio % Historical Data
The historical data trend for Corby Spirit and Wine'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 Corby Spirit and Wine's Sloan Ratio %
For the Beverages - Wineries & Distilleries subindustry, Corby Spirit and Wine'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.
Corby Spirit and Wine's Sloan Ratio % Distribution in the Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Corby Spirit and Wine's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Corby Spirit and Wine's Sloan Ratio % falls into.
Corby Spirit and Wine 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.
Corby Spirit and Wine's Sloan Ratio for the fiscal year that ended in Jun. 2023 is calculated as
Corby Spirit and Wine's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 2.87 (Mar. 2023 ) + 1.225 (Jun. 2023 ) + 5.469 (Sep. 2023 ) + 5.446 (Dec. 2023 ) = $15.0 Mil.
Corby Spirit and Wine's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 0.897 (Mar. 2023 ) + 14.299 (Jun. 2023 ) + -3.562 (Sep. 2023 ) + 19.366 (Dec. 2023 ) = $31.0 Mil.
Corby Spirit and Wine's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was 3.718 (Mar. 2023 ) + -83.297 (Jun. 2023 ) + 12.293 (Sep. 2023 ) + -27.582 (Dec. 2023 ) = $-94.9 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.
Corby Spirit and Wine (OTCPK:CBYDF) 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 Dec. 2023, Corby Spirit and Wine has a Sloan Ratio of 25.82%, indicating earnings are more likely to be made up of accruals.
Corby Spirit and Wine Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Corby Spirit and Wine's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Corby Spirit and Wine (Corby Spirit and Wine) Business Description
Corby Spirit and Wine Ltd is a Canadian manufacturer, marketer and importer of spirits and wines. The company derives its revenues from the sale of its owned-brands in Canada and other international markets, as well as earning commissions from the representation of selected non-owned brands in the Canadian marketplace. The company also supplements these primary sources of revenue with other ancillary activities incidental to its core business, such as logistics fees. The company has two reportable segments: Case Goods and Commissions. The Case Goods segment derives its revenue from the production and distribution of its owned beverage alcohol brands. The Commissions segment earns commission income from the representation of non-owned beverage alcohol brands in Canada.
Corby Spirit and Wine (Corby Spirit and Wine) Headlines
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
CBYDF has been successfully added to your 