What is Henderson Land Development Co 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. 2024, Henderson Land Development Co has a Sloan Ratio of -2.06%, indicating the company is in the safe zone and there is no funny business with accruals.
Henderson Land Development Co 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 Henderson Land Development Co's Sloan Ratio %
For the Real Estate - Diversified subindustry, Henderson Land Development Co'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.
Henderson Land Development Co's Sloan Ratio % Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Henderson Land Development Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Henderson Land Development Co's Sloan Ratio % falls into.
Henderson Land Development Co 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.
Henderson Land Development Co's Net Income for the trailing twelve months (TTM) ended in Jun. 2024 was 423.058 (Dec. 2023 ) + 406.402 (Jun. 2024 ) = $829 Mil.
Henderson Land Development Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2024 was 1113.729 (Dec. 2023 ) + 1036.748 (Jun. 2024 ) = $2,150 Mil.
Henderson Land Development Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2024 was 228.559 (Dec. 2023 ) + -136.236 (Jun. 2024 ) = $92 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.
Henderson Land Development Co (OTCPK:HLDCY) 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, Henderson Land Development Co has a Sloan Ratio of -2.06%, indicating the company is in the safe zone and there is no funny business with accruals.
Henderson Land Development Co Sloan Ratio % Related Terms
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Henderson Land Development Co Business Description
Henderson Land Development is a leading property developer in Hong Kong with a focus on urban redevelopment and farmland conversion. The company was founded in 1976, listed in 1981. Founder Lee Shau Kee is the controlling shareholder, and a series of disposals in December 2017 reduced his stake to below 72.8%. The share disposals were the first since 1993, lessening the possibility of a privatization. Lee stepped down in May 2019, succeeded by his two sons as joint chairmen and managing directors. Henderson Land also controls four listed entities directly, including a 69% stake in Henderson Investment, a 41.5% stake in Hong Kong and China Gas, a 33.4% stake in Hong Kong Ferry, and a 50.1% stake in Miramar Hotel & Investment.
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