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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.
Codere Online Luxembourg (NAS:CDROW) 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. 2025, Codere Online Luxembourg has a Sloan Ratio of -18.48%, indicating there is a warning stage of accrual build up.
Codere Online Luxembourg Sloan Ratio % Related Terms
Codere Online Luxembourg 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.
CDROW vs INSE, MRDN, ROLR: Sloan Ratio % Comparison
For the Gambling subindustry, Codere Online Luxembourg'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.
Codere Online Luxembourg Sloan Ratio % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Codere Online Luxembourg's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Codere Online Luxembourg's Sloan Ratio % falls into.
Codere Online Luxembourg 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.
Codere Online Luxembourg's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Codere Online Luxembourg's Net Income for the trailing twelve months (TTM) ended in Dec. 2025 was -3.63 (Jun. 2025 ) + 5.198 (Dec. 2025 ) = $1.57 Mil.
Codere Online Luxembourg's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was 11.155 (Jun. 2025 ) + 8.006 (Dec. 2025 ) = $19.16 Mil.
Codere Online Luxembourg's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2025 was -0.028 (Jun. 2025 ) + -0.071 (Dec. 2025 ) = $-0.10 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.
Codere Online Luxembourg (CDROW) has a Sloan Ratio % of -18.48% as of Dec. 2025. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Codere Online Luxembourg and its competitors.
Is Codere Online Luxembourg's Sloan Ratio % too high?
Codere Online Luxembourg's current Sloan Ratio % is -18.48%. Overall, Codere Online Luxembourg has a GF Score™ of 75/100, reflecting its overall financial health beyond just this single metric.
How does Codere Online Luxembourg's Sloan Ratio % compare to INSE and MRDN?
Codere Online Luxembourg's Sloan Ratio % of -18.48% can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Sloan Ratio % depends on the Travel & Leisure 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 Codere Online Luxembourg and its competitors. Codere Online Luxembourg's current Sloan Ratio % is -18.48%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Codere Online Luxembourg stock overvalued right now?
Codere Online Luxembourg (CDROW) has a current Sloan Ratio % of -18.48%. The current Sloan Ratio % is -18.48%. Codere Online Luxembourg's overall GF Score™ is 75/100 with 2 warning signs to review. 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 Codere Online Luxembourg (CDROW), the current Sloan Ratio % is -18.48% as of Dec. 2025. 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.
Codere Online Luxembourg SA is an international online casino gaming and online sports betting group focused on providing its customers with a safe and enjoyable online gaming experience. It currently operates in Spain, Mexico, Colombia, and Other countries, where it offers its users the ability to play online casino games and bet on sports events. Online casino offerings include the full portfolio of games typically available in land-based casinos, gaming halls, and gambling establishments, such as slot machines, table games, and bingo. Online sports betting involves a user placing a wager on an event at some fixed odds determined by Codere Online. The company derives maximum revenue from Mexico.
75GF Score
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