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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.
PT Arpeni Pratama Ocean Line Tbk (FRA:A5DA) 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. 2019, PT Arpeni Pratama Ocean Line Tbk has a Sloan Ratio of -78.23%, indicating earnings are more likely to be made up of accruals.
PT Arpeni Pratama Ocean Line Tbk Sloan Ratio % Related Terms
PT Arpeni Pratama Ocean Line Tbk 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.
PT Arpeni Pratama Ocean Line Tbk Sloan Ratio % Chart
PT Arpeni Pratama Ocean Line Tbk Sloan Ratio % Competitor Comparison
For the Marine Shipping subindustry, PT Arpeni Pratama Ocean Line Tbk'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.
PT Arpeni Pratama Ocean Line Tbk Sloan Ratio % vs Transportation Industry
For the Transportation industry and Industrials sector, PT Arpeni Pratama Ocean Line Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Arpeni Pratama Ocean Line Tbk's Sloan Ratio % falls into.
PT Arpeni Pratama Ocean Line Tbk 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.
PT Arpeni Pratama Ocean Line Tbk's Net Income for the trailing twelve months (TTM) ended in Sep. 2019 was -1.391 (Dec. 2018 ) + -38.403 (Mar. 2019 ) + -9.9 (Jun. 2019 ) + -2.72 (Sep. 2019 ) = €-52.41 Mil.
PT Arpeni Pratama Ocean Line Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2019 was -2.26 (Dec. 2018 ) + 1.594 (Mar. 2019 ) + -3.154 (Jun. 2019 ) + -2.595 (Sep. 2019 ) = €-6.42 Mil.
PT Arpeni Pratama Ocean Line Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2019 was 0.443 (Dec. 2018 ) + 1.059 (Mar. 2019 ) + 0.16 (Jun. 2019 ) + -0.144 (Sep. 2019 ) = €1.52 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.
PT Arpeni Pratama Ocean Line Tbk (FRA:A5DA) has a Sloan Ratio % of -78.23% as of Sep. 2019. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PT Arpeni Pratama Ocean Line Tbk and its competitors.
Is PT Arpeni Pratama Ocean Line Tbk's Sloan Ratio % too high?
PT Arpeni Pratama Ocean Line Tbk's current Sloan Ratio % is -78.23%.
How does PT Arpeni Pratama Ocean Line Tbk's Sloan Ratio % compare to competitors?
PT Arpeni Pratama Ocean Line Tbk's Sloan Ratio % of -78.23% can be compared against companies in the Transportation 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 Transportation company?
A good Sloan Ratio % depends on the Transportation 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 PT Arpeni Pratama Ocean Line Tbk and its competitors. PT Arpeni Pratama Ocean Line Tbk's current Sloan Ratio % is -78.23%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Arpeni Pratama Ocean Line Tbk stock overvalued right now?
PT Arpeni Pratama Ocean Line Tbk (FRA:A5DA) has a current Sloan Ratio % of -78.23%. The current Sloan Ratio % is -78.23%. 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 PT Arpeni Pratama Ocean Line Tbk (FRA:A5DA), the current Sloan Ratio % is -78.23% as of Sep. 2019. 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.
PT Arpeni Pratama Ocean Line Tbk is Indonesian shipping company. The company is engaged in the domestic and international transportation of cargo by vessels, sale, and purchase of vessels. It uses its vessels for the transport of coal, iron ore, wheat, soybeans, and grains to various countries. In addition, the company also owns and operates the dry bulk fleet, including panamax bulk carriers, tugboats, barges, and floating cranes. The company operates through three segments namely, Shipping Services which also contributes a major part of revenue, Agency Services, and Non-Asset Based Busines. Most of its revenue is earned through the Indonesian market.
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