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.
Alltronics Holdings's Sloan Ratio for the quarter that ended in Dec. 2023 was -9.62%.
As of Dec. 2023, Alltronics Holdings has a Sloan Ratio of -9.62%, indicating the company is in the safe zone and there is no funny business with accruals.
Alltronics Holdings Sloan Ratio % Historical Data
The historical data trend for Alltronics 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 Alltronics Holdings's Sloan Ratio %
For the Electronic Components subindustry, Alltronics 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.
Alltronics Holdings's Sloan Ratio % Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Alltronics Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Alltronics Holdings's Sloan Ratio % falls into.
Alltronics 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.
Alltronics Holdings's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Alltronics Holdings's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 52.219 (Jun. 2023 ) + 56.204 (Dec. 2023 ) = HK$108 Mil.
Alltronics Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 151.849 (Jun. 2023 ) + 88.482 (Dec. 2023 ) = HK$240 Mil.
Alltronics Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -2.465 (Jun. 2023 ) + -15.926 (Dec. 2023 ) = HK$-18 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.
Alltronics Holdings (HKSE:00833) 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, Alltronics Holdings has a Sloan Ratio of -9.62%, indicating the company is in the safe zone and there is no funny business with accruals.
Alltronics Holdings Sloan Ratio % Related Terms
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Alltronics Holdings (HKSE:00833) Business Description
Alltronics Holdings Ltd is an investment holding company. The group has three reportable operating segments as follows: Electronic Products, Biodiesel Products and Energy Saving Business. The Electronic Products segment is engaged in the manufacturing and trading of electronic products, plastic moulds, plastic and other components for electronic products. The Biodiesel Products segment is engaged in the trading of biodiesel products in Hong Kong, and the Energy Saving Business segment is involved in the provision of energy-saving business solutions to customers. The majority of its revenue is derived from Electronic Products. Its primary geographic markets include the United States, Hong Kong, Europe, PRC and other overseas countries.
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