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.
CapitaLand Investment's Sloan Ratio for the quarter that ended in Jun. 2024 was -3.86%.
As of Jun. 2024, CapitaLand Investment has a Sloan Ratio of -3.86%, indicating the company is in the safe zone and there is no funny business with accruals.
CapitaLand Investment Sloan Ratio % Historical Data
The historical data trend for CapitaLand Investment'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 CapitaLand Investment's Sloan Ratio %
For the Real Estate Services subindustry, CapitaLand Investment'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.
CapitaLand Investment's Sloan Ratio % Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, CapitaLand Investment's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where CapitaLand Investment's Sloan Ratio % falls into.
CapitaLand Investment 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.
CapitaLand Investment's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
CapitaLand Investment's Net Income for the trailing twelve months (TTM) ended in Jun. 2024 was -127.618 (Dec. 2023 ) + 244.877 (Jun. 2024 ) = $117 Mil.
CapitaLand Investment's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2024 was 310.037 (Dec. 2023 ) + 167.197 (Jun. 2024 ) = $477 Mil.
CapitaLand Investment's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2024 was 5.255 (Dec. 2023 ) + 576.311 (Jun. 2024 ) = $582 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.
CapitaLand Investment (OTCPK:CLILF) 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. 2024, CapitaLand Investment has a Sloan Ratio of -3.86%, indicating the company is in the safe zone and there is no funny business with accruals.
CapitaLand Investment Sloan Ratio % Related Terms
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CapitaLand Investment, or CLI, is a Singapore-headquartered real estate investment management company with SGD 134 billion in total asset under management. The company has two core business segments: real estate investment and fee-income-related business. The majority of its earnings are derived from its real estate investment business where it invests in a portfolio of office, retail, lodging, logistics, business parks, and data center assets for rental income. The firm also derives fee income from lodging management and management of underlying assets in investment vehicles such as an unlisted fund or REIT on behalf of its capital partners.
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