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 Visi Media Asia Tbk's Sloan Ratio for the quarter that ended in Sep. 2023 was -16.72%.
As of Sep. 2023, PT Visi Media Asia Tbk has a Sloan Ratio of -16.72%, indicating there is a warning stage of accrual build up.
PT Visi Media Asia Tbk 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 PT Visi Media Asia Tbk's Sloan Ratio %
For the Broadcasting subindustry, PT Visi Media Asia 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 Visi Media Asia Tbk's Sloan Ratio % Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, PT Visi Media Asia Tbk's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PT Visi Media Asia Tbk's Sloan Ratio % falls into.
PT Visi Media Asia 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 Visi Media Asia Tbk's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as
PT Visi Media Asia Tbk's Net Income for the trailing twelve months (TTM) ended in Sep. 2023 was -626248.934 (Dec. 2022 ) + -77533.262 (Mar. 2023 ) + -427418.394 (Jun. 2023 ) + -374902.544 (Sep. 2023 ) = Rp-1,506,103 Mil.
PT Visi Media Asia Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2023 was -28568.247 (Dec. 2022 ) + 39974.704 (Mar. 2023 ) + -16587.622 (Jun. 2023 ) + -5304.774 (Sep. 2023 ) = Rp-10,486 Mil.
PT Visi Media Asia Tbk's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2023 was 22453.31 (Dec. 2022 ) + -7966.497 (Mar. 2023 ) + 10553.479 (Jun. 2023 ) + -2265.398 (Sep. 2023 ) = Rp22,775 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 Visi Media Asia Tbk (ISX:VIVA) 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 Sep. 2023, PT Visi Media Asia Tbk has a Sloan Ratio of -16.72%, indicating there is a warning stage of accrual build up.
PT Visi Media Asia Tbk Sloan Ratio % Related Terms
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PT Visi Media Asia Tbk (ISX:VIVA) Business Description
PT Visi Media Asia Tbk is an integrated convergent media company. The company delivers news, sports, and lifestyle content through the convergence of broadcast, online and mobile platforms. The operating segments of the company are advertisement and non-advertisement. The majority of its revenue is derived from the advertisement segment. The company is also engaged in broadcasting industry services on a channel, namely tvOne programs consisting of news, current affairs, talk shows, documentaries, and sports. tvOne broadcasts 24 hours a day and continues to deliver fast and accurate information within its programs. Significant daily events are presented in Breaking News which has become a reference for viewers throughout the country.
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