What is China Jinmao Holdings Group Sloan Ratio %?
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.
As of Dec. 2023, China Jinmao Holdings Group has a Sloan Ratio of -2.86%, indicating the company is in the safe zone and there is no funny business with accruals.
China Jinmao Holdings Group 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.
Competitive Comparison of China Jinmao Holdings Group's Sloan Ratio %
For the Real Estate - Development subindustry, China Jinmao Holdings Group'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.
China Jinmao Holdings Group's Sloan Ratio % Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, China Jinmao Holdings Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where China Jinmao Holdings Group's Sloan Ratio % falls into.
China Jinmao Holdings Group 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.
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
China Jinmao Holdings Group's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 473.476 (Jun. 2023 ) + -8016.879 (Dec. 2023 ) = HK$-7,543 Mil.
China Jinmao Holdings Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 2812.022 (Jun. 2023 ) + 568.559 (Dec. 2023 ) = HK$3,381 Mil.
China Jinmao Holdings Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was 104.514 (Jun. 2023 ) + 1694.914 (Dec. 2023 ) = HK$1,799 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.
China Jinmao Holdings Group (HKSE:00817) 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, China Jinmao Holdings Group has a Sloan Ratio of -2.86%, indicating the company is in the safe zone and there is no funny business with accruals.
China Jinmao Holdings Group Sloan Ratio % Related Terms
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China Jinmao Holdings Group (HKSE:00817) Business Description
China Jinmao, formerly known as Franshion Properties, is a mid-cap real estate developer in China, and listed on the Hong Kong stock exchange in 2007. As the real estate arm of Sinochem, a leading government-controlled chemical-producing conglomerate, China Jinmao focuses on the development of high-end residential projects in higher-tier cities of China with premium pricing. It also engages in a unique city operation model, in which it has opportunities to participate in large-scale primary and secondary land development through specific agreements with local government. Under the mixed ownership reform initiative, China Jinmao brought in Ping An as a long-term financial investor and as the second largest shareholder.
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