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.
Corsa Coal's Sloan Ratio for the quarter that ended in Dec. 2023 was 4.08%.
As of Dec. 2023, Corsa Coal has a Sloan Ratio of 4.08%, indicating the company is in the safe zone and there is no funny business with accruals.
Corsa Coal Sloan Ratio % Historical Data
The historical data trend for Corsa Coal'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 Corsa Coal's Sloan Ratio %
For the Coking Coal subindustry, Corsa Coal'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.
Corsa Coal's Sloan Ratio % Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, Corsa Coal's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Corsa Coal's Sloan Ratio % falls into.
Corsa Coal 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.
Corsa Coal's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Corsa Coal's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 1.928 (Mar. 2023 ) + 7.982 (Jun. 2023 ) + 19.44 (Sep. 2023 ) + -5.797 (Dec. 2023 ) = $23.6 Mil.
Corsa Coal's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 2.439 (Mar. 2023 ) + 3.552 (Jun. 2023 ) + 5.736 (Sep. 2023 ) + 17.574 (Dec. 2023 ) = $29.3 Mil.
Corsa Coal's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -2.696 (Mar. 2023 ) + -2.251 (Jun. 2023 ) + -3.196 (Sep. 2023 ) + -5.411 (Dec. 2023 ) = $-13.6 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.
Corsa Coal (OTCPK:CRSXF) 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, Corsa Coal has a Sloan Ratio of 4.08%, indicating the company is in the safe zone and there is no funny business with accruals.
Corsa Coal Sloan Ratio % Related Terms
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Corsa Coal Corp is a coal mining company focused on the production and sales of metallurgical coal, an essential ingredient in the production of steel. Its core business is producing and selling metallurgical coal to domestic and international steel and coke producers in the Atlantic and Pacific basin markets. Its segments are Northern Appalachia (NAPP) and the company's corporate office. NAPP is a distinct operating segment based on its metallurgical coal operations and location in the U.S. along the Northern Appalachia coal belt. The company's corporate office provides support and manages the mining investments.
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