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.
Redefine Properties's Sloan Ratio for the quarter that ended in Aug. 2024 was 3.64%.
As of Aug. 2024, Redefine Properties has a Sloan Ratio of 3.64%, indicating the company is in the safe zone and there is no funny business with accruals.
Redefine Properties Sloan Ratio % Historical Data
The historical data trend for Redefine Properties'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 Redefine Properties's Sloan Ratio %
For the REIT - Diversified subindustry, Redefine Properties'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.
Redefine Properties's Sloan Ratio % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Redefine Properties's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Redefine Properties'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.
Redefine Properties's Sloan Ratio for the fiscal year that ended in Aug. 2024 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Redefine Properties's Net Income for the trailing twelve months (TTM) ended in Aug. 2024 was 1093.743 (Feb. 2024 ) + 2875.67 (Aug. 2024 ) = R3,969 Mil.
Redefine Properties's Cash Flow from Operations for the trailing twelve months (TTM) ended in Aug. 2024 was 1161.627 (Feb. 2024 ) + 1767.792 (Aug. 2024 ) = R2,929 Mil.
Redefine Properties's Cash Flow from Investing for the trailing twelve months (TTM) ended in Aug. 2024 was -2431.895 (Feb. 2024 ) + -235.219 (Aug. 2024 ) = R-2,667 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.
Redefine Properties (JSE:RDF) 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 Aug. 2024, Redefine Properties has a Sloan Ratio of 3.64%, indicating the company is in the safe zone and there is no funny business with accruals.
Redefine Properties Sloan Ratio % Related Terms
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Redefine Properties Ltd is a South African real estate investment trust involved in the ownership of office, retail, and industrial properties. The vast majority of Redefine's real estate portfolio is located in South Africa and Poland .Within South Africa, over half of the company's properties are in the province of Gauteng in terms of total value. The group comprises of segments in the local portfolio, being office, retail, industrial, specialised and head office, and the international portfolio being EPP, Redefine Europe and other. Majority of revenue is generated from EPP, international portfolio.
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