HMCTF (Hainan Meilan International Airport Co) Sloan Ratio % : -2.15% (As of Jun. 2024)

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What is Hainan Meilan International Airport 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.

Hainan Meilan International Airport Co's Sloan Ratio for the quarter that ended in Jun. 2024 was -2.15%.

As of Jun. 2024, Hainan Meilan International Airport Co has a Sloan Ratio of -2.15%, indicating the company is in the safe zone and there is no funny business with accruals.

Hainan Meilan International Airport Co Sloan Ratio % Historical Data

The historical data trend for Hainan Meilan International Airport Co'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.

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Hainan Meilan International Airport Co Sloan Ratio % Chart

Hainan Meilan International Airport Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Sloan Ratio %

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3.76

-4.20

2.27

-2.10

-2.96

Hainan Meilan International Airport Co Semi-Annual Data
	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Sloan Ratio %	Get a 7-Day Free Trial															1.23	-2.14	-1.94	-2.96	-2.15

Competitive Comparison of Hainan Meilan International Airport Co's Sloan Ratio %

For the Airports & Air Services subindustry, Hainan Meilan International Airport 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.

Hainan Meilan International Airport Co's Sloan Ratio % Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Hainan Meilan International Airport Co's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Hainan Meilan International Airport Co's Sloan Ratio % falls into.

Hainan Meilan International Airport 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.

Hainan Meilan International Airport Co's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Sloan Ratio	=	(Net Income (A: Dec. 2023 )	-	Cash Flow from Operations (A: Dec. 2023 )
	-	Cash Flow from Investing (A: Dec. 2023 ))	/	Total Assets (A: Dec. 2023 )
	=	(-19.048	-	73.798
	-	-45.753)	/	1591.125
	=	-2.96%

Hainan Meilan International Airport Co's Sloan Ratio for the quarter that ended in Jun. 2024 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Jun. 2024 )
	=	(-46.15	-	72.577
	-	-86.864)	/	1479.78
	=	-2.15%

For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data. Hainan Meilan International Airport Co's Net Income for the trailing twelve months (TTM) ended in Jun. 2024 was -11.959 (Dec. 2023 ) + -34.191 (Jun. 2024 ) = $-46.2 Mil.
Hainan Meilan International Airport Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2024 was 40.392 (Dec. 2023 ) + 32.185 (Jun. 2024 ) = $72.6 Mil.
Hainan Meilan International Airport Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2024 was -21.06 (Dec. 2023 ) + -65.804 (Jun. 2024 ) = $-86.9 Mil.

Hainan Meilan International Airport Co (OTCPK:HMCTF) 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.

According to How to Beat the Market with the Sloan Ratio:

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, Hainan Meilan International Airport Co has a Sloan Ratio of -2.15%, indicating the company is in the safe zone and there is no funny business with accruals.

Hainan Meilan International Airport Co Sloan Ratio % Related Terms

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Hainan Meilan International Airport Co Business Description

Industry

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Traded in Other Exchanges

00357:Hong Kong HAO:Germany

Address

Office Building of Meilan Airport, Hainan Province, Haikou, CHN, 571126

Website

http://www.mlairport.com

Hainan Meilan International Airport Co Ltd is engaged in the operation of an airport and an ancillary hotel and the provision of related services in the PRC. The company engages and generates revenues from the operational activities at the Meilan Airport of the Hainan Province in the People's Republic of China (PRC). Under its aeronautical businesses, the firm provides terminal facilities, ground handling services, and passenger services. The non-aeronautical business includes the leasing of commercial and retail spaces at Meilan Airport, franchising of airport-related business, advertising, car parking, cargo handling, and sales of consumable goods.

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