What is Pujiang International 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 Jun. 2023, Pujiang International Group has a Sloan Ratio of 4.75%, indicating the company is in the safe zone and there is no funny business with accruals.
Pujiang International 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 Pujiang International Group's Sloan Ratio %
For the Metal Fabrication subindustry, Pujiang International 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.
Pujiang International Group's Sloan Ratio % Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Pujiang International Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Pujiang International Group's Sloan Ratio % falls into.
Pujiang International 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.
Pujiang International Group's Net Income for the trailing twelve months (TTM) ended in Jun. 2023 was 112.109 (Dec. 2022 ) + 45.382 (Jun. 2023 ) = HK$157 Mil.
Pujiang International Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2023 was 204.78 (Dec. 2022 ) + -264.191 (Jun. 2023 ) = HK$-59 Mil.
Pujiang International Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2023 was -72.071 (Dec. 2022 ) + -11.636 (Jun. 2023 ) = HK$-84 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.
Pujiang International Group (HKSE:02060) 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. 2023, Pujiang International Group has a Sloan Ratio of 4.75%, indicating the company is in the safe zone and there is no funny business with accruals.
Pujiang International Group Sloan Ratio % Related Terms
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Pujiang International Group (HKSE:02060) Business Description
Pujiang International Group Ltd is a provider of bridge cables for the construction of super-long-span bridges in China and prestressed materials manufacturers in China. It is principally engaged in the manufacture of cables for the construction of bridges and prestressed materials for various infrastructure construction. The company has two main reporting business segments, namely, the business which manufactures cables for long-span bridges (the Cable Business) and the business which manufactures prestressed materials for various infrastructure construction (the Prestressed Materials Business). The Group's revenue customers are derived mainly from its operations in China.
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