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.
PT Paninvest Tbk's Sloan Ratio for the quarter that ended in Mar. 2024 was -0.67%.
As of Mar. 2024, PT Paninvest Tbk has a Sloan Ratio of -0.67%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Paninvest Tbk Sloan Ratio % Historical Data
The historical data trend for PT Paninvest Tbk'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.
Competitive Comparison of PT Paninvest Tbk's Sloan Ratio %
For the Insurance - Life subindustry, PT Paninvest Tbk'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.
PT Paninvest Tbk's Sloan Ratio % Distribution in the Insurance Industry
For the Insurance industry and Financial Services sector, PT Paninvest Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Paninvest Tbk's Sloan Ratio % falls into.
PT Paninvest Tbk 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.
PT Paninvest Tbk's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
PT Paninvest Tbk's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 361680 (Jun. 2023 ) + 375822 (Sep. 2023 ) + -766893 (Dec. 2023 ) + 283358 (Mar. 2024 ) = Rp253,967 Mil.
PT Paninvest Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was -818533 (Jun. 2023 ) + 63967 (Sep. 2023 ) + 3999237 (Dec. 2023 ) + 4825392 (Mar. 2024 ) = Rp8,070,063 Mil.
PT Paninvest Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -1006674 (Jun. 2023 ) + -117347 (Sep. 2023 ) + -217410 (Dec. 2023 ) + -4884413 (Mar. 2024 ) = Rp-6,225,844 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.
PT Paninvest Tbk (ISX:PNIN) 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, PT Paninvest Tbk has a Sloan Ratio of -0.67%, indicating the company is in the safe zone and there is no funny business with accruals.
PT Paninvest Tbk Sloan Ratio % Related Terms
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PT Paninvest Tbk is an Indonesia-based company primarily engaged in providing life insurance products. The group classifies their lines of business into life insurance which comprises death, personal health, personal accident, unit link, and others. Geographically, all the business activity functions through the region of Indonesia and it derives most of the income in the form of premiums and commissions.
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