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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.
Harmony Biosciences Holdings's Sloan Ratio for the quarter that ended in Dec. 2024 was -0.68%.
As of Dec. 2024, Harmony Biosciences Holdings has a Sloan Ratio of -0.68%, indicating the company is in the safe zone and there is no funny business with accruals.
The historical data trend for Harmony Biosciences Holdings'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.
Harmony Biosciences Holdings Annual Data | ||||||||||||||||
Trend | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | Dec24 | |||||||||
Sloan Ratio % | Get a 7-Day Free Trial | -7.48 | 8.38 | 26.54 | -5.43 | -0.68 |
Harmony Biosciences Holdings Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Sloan Ratio % | Get a 7-Day Free Trial |
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-5.43 | -2.29 | -0.07 | -0.21 | -0.68 |
For the Biotechnology subindustry, Harmony Biosciences 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.
For the Biotechnology industry and Healthcare sector, Harmony Biosciences Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Harmony Biosciences Holdings's Sloan Ratio % falls into.
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.
Harmony Biosciences Holdings's Sloan Ratio for the fiscal year that ended in Dec. 2024 is calculated as
Sloan Ratio | = | (Net Income (A: Dec. 2024 ) | - | Cash Flow from Operations (A: Dec. 2024 ) |
- | Cash Flow from Investing (A: Dec. 2024 )) | / | Total Assets (A: Dec. 2024 ) | |
= | (145.493 | - | 219.821 | |
- | -67.484) | / | 999.2 | |
= | -0.68% |
Harmony Biosciences Holdings's Sloan Ratio for the quarter that ended in Dec. 2024 is calculated as
Sloan Ratio | = | (Net Income (TTM) | - | Cash Flow from Operations (TTM)) |
- | Cash Flow from Investing (TTM)) | / | Total Assets (Q: Dec. 2024 ) | |
= | (145.493 | - | 219.821 | |
- | -67.484) | / | 999.2 | |
= | -0.68% |
Harmony Biosciences Holdings's Net Income for the trailing twelve months (TTM) ended in Dec. 2024 was 38.334 (Mar. 2024 ) + 11.591 (Jun. 2024 ) + 46.093 (Sep. 2024 ) + 49.475 (Dec. 2024 ) = $145.5 Mil. Harmony Biosciences Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2024 was 31.141 (Mar. 2024 ) + 42.617 (Jun. 2024 ) + 70.501 (Sep. 2024 ) + 75.562 (Dec. 2024 ) = $219.8 Mil. Harmony Biosciences Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2024 was -6.186 (Mar. 2024 ) + -54.856 (Jun. 2024 ) + 0.745 (Sep. 2024 ) + -7.187 (Dec. 2024 ) = $-67.5 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.
Harmony Biosciences Holdings (NAS:HRMY) 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 Dec. 2024, Harmony Biosciences Holdings has a Sloan Ratio of -0.68%, indicating the company is in the safe zone and there is no funny business with accruals.
Thank you for viewing the detailed overview of Harmony Biosciences Holdings's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Jeffrey Dierks | officer: Chief Commercial Officer | 630 W. GERMANTOWN PIKE, SUITE 215, PLYMOUTH MEETING PA 19462 |
Sandip Kapadia | officer: Chief Financial Officer | 450 WEST 15 STREET, SUITE 505, NEW YORK NY 10011 |
Jeffrey M. Dayno | officer: Chief Medical Officer | 460 EAST SWEDESFORD ROAD, SUITE 1050, WAYNE PA 19087 |
Marshman Fund Trust Ii | 10 percent owner | 630 W. GERMANTOWN PIKE, SUITE 215, PLYMOUTH MEETING PA 19462 |
Valor Iv Pharma Holdings, Llc | 10 percent owner | 875 N. MICHIGAN AVENUE, SUITE 3214, CHICAGO IL 60611 |
Peter Anastasiou | director | C/O HARMONY BIOSCIENCES HOLDINGS, INC., 630 W. GERMANTOWN PIKE, SUITE 215, PLYMOUTH MEETING PA 19462 |
Andreas Wicki | director | C/O HBM BIOVENTURES (CAYMAN) LTD., CENTENNIAL TOWERS,STE.305,2454 W.BAY RD., GRAND CAYMAN E9 E9 |
Jack Nielsen | director | C/O AKEBIA THERAPEUTICS, INC., 245 FIRST STREET, SUITE 1100, CAMBRIDGE MA 02142 |
Andrew Serafin | officer: Chief Business Officer | 630 W. GERMANTOWN PIKE, PLYMOUTH MEETING PA 19462 |
John C Jacobs | director, officer: President, CEO | 630 W. GERMANTOWN PIKE, SUITE 215, PLYMOUTH MEETING PA 19462 |
Linda M Szyper | director | C/O NEOS THERAPEUTICS, INC., 2940 N. HIGHWAY 250, SUITE 400, GRAND PRAIRIE TX 75050 |
Eric L Motley | director | 1516 33RD STREET NW, WASHINGTON DC 20007 |
R. Mark Graf | director | C/O DISCOVER FINANCIAL SERVICES, 2500 LAKE COOK ROAD, RIVERWOODS IL 60015 |
Novo Holdings A/s | 10 percent owner | TUBORG HAVNEVEJ 19, HELLERUP G7 2900 |
Valor Management L.p. | 10 percent owner | 875 N. MICHIGAN AVENUE, SUITE 3214, CHICAGO IL 60611 |
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