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.
Integer Holdings's Sloan Ratio for the quarter that ended in Mar. 2024 was 6.65%.
As of Mar. 2024, Integer Holdings has a Sloan Ratio of 6.65%, indicating the company is in the safe zone and there is no funny business with accruals.
Integer Holdings Sloan Ratio % Historical Data
The historical data trend for Integer Holdings'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 Integer Holdings's Sloan Ratio %
For the Medical Devices subindustry, Integer Holdings'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.
Integer Holdings's Sloan Ratio % Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Integer Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Integer Holdings's Sloan Ratio % falls into.
Integer Holdings 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.
Integer Holdings's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Integer Holdings's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 22.125 (Jun. 2023 ) + 25.54 (Sep. 2023 ) + 24.169 (Dec. 2023 ) + 18.867 (Mar. 2024 ) = €91 Mil.
Integer Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 51.822 (Jun. 2023 ) + 58.369 (Sep. 2023 ) + 50.973 (Dec. 2023 ) + 21.38 (Mar. 2024 ) = €183 Mil.
Integer Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -30.156 (Jun. 2023 ) + -23.818 (Sep. 2023 ) + -73.894 (Dec. 2023 ) + -154.742 (Mar. 2024 ) = €-283 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.
Integer Holdings (FRA:WGB) 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 Mar. 2024, Integer Holdings has a Sloan Ratio of 6.65%, indicating the company is in the safe zone and there is no funny business with accruals.
Integer Holdings Sloan Ratio % Related Terms
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Integer Holdings Corp is a manufacturer of medical device components used by original equipment manufacturers in the medical industry. The company also develops batteries used in nonmedical applications in the energy, military, and environmental markets. The firm organizes itself into two business segments based on the product type: medical and nonmedical. The medical segment uses the firm's technologies to produce components and finished medical devices, and it generates the vast majority of revenue. The company earns more than half of its revenue in the United States.
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