What is China-Hongkong Photo Products Holdings 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 Mar. 2024, China-Hongkong Photo Products Holdings has a Sloan Ratio of -2.02%, indicating the company is in the safe zone and there is no funny business with accruals.
China-Hongkong Photo Products Holdings 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.
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China-Hongkong Photo Products Holdings Sloan Ratio % Chart
China-Hongkong Photo Products Holdings Annual Data
Competitive Comparison of China-Hongkong Photo Products Holdings's Sloan Ratio %
For the Leisure subindustry, China-Hongkong Photo Products 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.
China-Hongkong Photo Products Holdings's Sloan Ratio % Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, China-Hongkong Photo Products Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where China-Hongkong Photo Products Holdings's Sloan Ratio % falls into.
China-Hongkong Photo Products 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.
* 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-Hongkong Photo Products Holdings (HKSE:01123) 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, China-Hongkong Photo Products Holdings has a Sloan Ratio of -2.02%, indicating the company is in the safe zone and there is no funny business with accruals.
China-Hongkong Photo Products Holdings Sloan Ratio % Related Terms
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China-Hongkong Photo Products Holdings Business Description
China-Hongkong Photo Products Holdings Ltd is an investment holding company. The company's operating segment includes Merchandise; Service; Investment and Corporate and 0thers. Its Merchandise segment is engaged in the marketing and distribution of photographic developing, processing and printing products as well as the sale of photographic merchandise, skincare products, consumer electronic products, and household appliances. It generates maximum revenue from the Merchandise segment. Geographically, it derives a majority of revenue from Hong Kong and also has a presence in the People's Republic of China.
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