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.
SunCorp Technologies's Sloan Ratio for the quarter that ended in Jun. 2024 was 14.95%.
As of Jun. 2024, SunCorp Technologies has a Sloan Ratio of 14.95%, indicating there is a warning stage of accrual build up.
SunCorp Technologies Sloan Ratio % Historical Data
The historical data trend for SunCorp Technologies'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 SunCorp Technologies's Sloan Ratio %
For the Conglomerates subindustry, SunCorp Technologies'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.
SunCorp Technologies's Sloan Ratio % Distribution in the Conglomerates Industry
For the Conglomerates industry and Industrials sector, SunCorp Technologies's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where SunCorp Technologies's Sloan Ratio % falls into.
SunCorp Technologies 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.
SunCorp Technologies'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.
SunCorp Technologies's Net Income for the trailing twelve months (TTM) ended in Jun. 2024 was 61.085 (Dec. 2023 ) + -38.798 (Jun. 2024 ) = HK$22.29 Mil.
SunCorp Technologies's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2024 was -10.11 (Dec. 2023 ) + -1.427 (Jun. 2024 ) = HK$-11.54 Mil.
SunCorp Technologies's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2024 was -0.059 (Dec. 2023 ) + 0.008 (Jun. 2024 ) = HK$-0.05 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.
SunCorp Technologies (HKSE:01063) 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. 2024, SunCorp Technologies has a Sloan Ratio of 14.95%, indicating there is a warning stage of accrual build up.
SunCorp Technologies Sloan Ratio % Related Terms
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SunCorp Technologies Ltd is engaged in sales and marketing of residential telephone and related products, computer-related components, securities brokerage, placing and underwriting, money lending, and B2B cross-border e-commerce. Its operating segments are; Sales of telephones and related components; Processing and trading of used computer-related components; Money lending services; Provision of securities brokerage, placing and underwriting services, and Sales of clothes and beauty products. Geographically it operates in PRC (including Hong Kong); India; Indonesia; USA; and Others, with the majority of the revenue deriving from the PRC (including Hong Kong).
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