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.
Caspian Services's Sloan Ratio for the quarter that ended in Jun. 2016 was -91.94%.
As of Jun. 2016, Caspian Services has a Sloan Ratio of -91.94%, indicating earnings are more likely to be made up of accruals.
Caspian Services (OTCPK:CSSV) 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. 2016, Caspian Services has a Sloan Ratio of -91.94%, indicating earnings are more likely to be made up of accruals.
Caspian Services Sloan Ratio % Related Terms
Caspian Services Sloan Ratio % Historical Data
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The historical data trend for Caspian Services'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.
CSSV vs GLRI, TIRTZ, GLFH: Sloan Ratio % Comparison
For the Oil & Gas Equipment & Services subindustry, Caspian Services'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.
Caspian Services Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Caspian Services's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Caspian Services's Sloan Ratio % falls into.
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.
Caspian Services's Sloan Ratio for the fiscal year that ended in Sep. 2015 is calculated as
Caspian Services's Net Income for the trailing twelve months (TTM) ended in Jun. 2016 was -16.136 (Sep. 2015 ) + -13.375 (Dec. 2015 ) + -2.352 (Mar. 2016 ) + -0.423 (Jun. 2016 ) = $-32.29 Mil.
Caspian Services's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2016 was -0.607 (Sep. 2015 ) + 0.282 (Dec. 2015 ) + 2.208 (Mar. 2016 ) + -0.318 (Jun. 2016 ) = $1.57 Mil.
Caspian Services's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2016 was 0.386 (Sep. 2015 ) + -0.719 (Dec. 2015 ) + -0.593 (Mar. 2016 ) + -0.838 (Jun. 2016 ) = $-1.76 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.
Caspian Services (CSSV) has a Sloan Ratio % of -91.94% as of Jun. 2016. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Caspian Services and its competitors.
Is Caspian Services' Sloan Ratio % too high?
Caspian Services' current Sloan Ratio % is -91.94%.
How does Caspian Services' Sloan Ratio % compare to GLRI and TIRTZ?
Caspian Services' Sloan Ratio % of -91.94% can be compared against companies in the Oil & Gas 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 an Oil & Gas company?
A good Sloan Ratio % depends on the Oil & Gas 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 Caspian Services and its competitors. Caspian Services's current Sloan Ratio % is -91.94%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Caspian Services stock overvalued right now?
Caspian Services (CSSV) has a current Sloan Ratio % of -91.94%. The current Sloan Ratio % is -91.94%. 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 Caspian Services (CSSV), the current Sloan Ratio % is -91.94% as of Jun. 2016. 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.
Caspian Services Inc provides oilfield services to oil & gas industry in Kazakhstan. The company operates in three reportable segments including Vessel operations, Geophysical services, and Marine base services. Vessel operations consist of chartering a fleet of shallow draft offshore support vessels to customers performing oil and gas exploration activities in the Caspian Sea. Geophysical services consist of providing seismic data acquisition services to oil and gas companies operating onshore in Kazakhstan. Marine base service consists of operating a marine base with a boat repair and drydocking services yard located at the port of Bautino on the North Caspian Sea. It generates the majority of the revenue from Vessel operations segment.
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