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.
Cal Dive International's Sloan Ratio for the quarter that ended in Sep. 2014 was -3.06%.
As of Sep. 2014, Cal Dive International has a Sloan Ratio of -3.06%, indicating the company is in the safe zone and there is no funny business with accruals.
Cal Dive International 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 Cal Dive International's Sloan Ratio %
For the Oil & Gas Equipment & Services subindustry, Cal Dive International'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.
Cal Dive International's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Cal Dive International's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Cal Dive International's Sloan Ratio % falls into.
Cal Dive International 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.
Cal Dive International's Sloan Ratio for the fiscal year that ended in Dec. 2013 is calculated as
Cal Dive International's Net Income for the trailing twelve months (TTM) ended in Sep. 2014 was -0.516 (Dec. 2013 ) + -13.051 (Mar. 2014 ) + -29.075 (Jun. 2014 ) + -42.629 (Sep. 2014 ) = $-85.3 Mil.
Cal Dive International's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2014 was 11.566 (Dec. 2013 ) + -40.245 (Mar. 2014 ) + -36.228 (Jun. 2014 ) + -8.091 (Sep. 2014 ) = $-73.0 Mil.
Cal Dive International's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2014 was -9.834 (Dec. 2013 ) + 2.858 (Mar. 2014 ) + 17.629 (Jun. 2014 ) + -5.479 (Sep. 2014 ) = $5.2 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.
Cal Dive International (OTCPK:CDVIQ) 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. 2014, Cal Dive International has a Sloan Ratio of -3.06%, indicating the company is in the safe zone and there is no funny business with accruals.
Cal Dive International Sloan Ratio % Related Terms
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Cal Dive International (Cal Dive International) Business Description
Cal Dive International Inc is a marine contracting company. It provides manned diving, pipelay and pipe burial, platform installation and salvage and light well intervention services to offshore oil and natural gas industry. The company operates in Gulf of Mexico, Outer continental shelf, northeastern U.S., Latin America, Southeast Asia, China, Australia, West Africa, the Middle East and Europe. It also owns diversified fleet of vessels including surface and saturation dive support vessels and construction barges. The firm generates majority of the revenues from the United States.
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