What is Polski Koncern Naftowy ORLEN 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.
As of Dec. 2023, Polski Koncern Naftowy ORLEN has a Sloan Ratio of 5.76%, indicating the company is in the safe zone and there is no funny business with accruals.
Polski Koncern Naftowy ORLEN 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 Polski Koncern Naftowy ORLEN's Sloan Ratio %
For the Oil & Gas Integrated subindustry, Polski Koncern Naftowy ORLEN'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.
Polski Koncern Naftowy ORLEN's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Polski Koncern Naftowy ORLEN's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Polski Koncern Naftowy ORLEN's Sloan Ratio % falls into.
Polski Koncern Naftowy ORLEN 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.
Polski Koncern Naftowy ORLEN's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 2297.144 (Mar. 2023 ) + 1170.763 (Jun. 2023 ) + 883.556 (Sep. 2023 ) + 934.57 (Dec. 2023 ) = $5,286 Mil.
Polski Koncern Naftowy ORLEN's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 5988.746 (Mar. 2023 ) + 1793.64 (Jun. 2023 ) + 1846.949 (Sep. 2023 ) + 1061.594 (Dec. 2023 ) = $10,691 Mil.
Polski Koncern Naftowy ORLEN's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -3399.804 (Mar. 2023 ) + -1251.11 (Jun. 2023 ) + -2671.839 (Sep. 2023 ) + -1964.025 (Dec. 2023 ) = $-9,287 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.
Polski Koncern Naftowy ORLEN (LSE:POKD) 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 Dec. 2023, Polski Koncern Naftowy ORLEN has a Sloan Ratio of 5.76%, indicating the company is in the safe zone and there is no funny business with accruals.
Polski Koncern Naftowy ORLEN Sloan Ratio % Related Terms
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Polski Koncern Naftowy ORLEN (LSE:POKD) Business Description
Orlen SA is an energy conglomerate that refines and distributes oil in Poland, the Czech Republic, Germany, and Lithuania. Through a group of refineries, it processes crude oil into gasoline, diesel oil, fuel oil, and aviation fuel. The company also produces petrochemicals and products used by chemical companies as feedstock. Additional operations include exploration and production activities in Poland, where it is domiciled, and Canada. Oil products are offered through thousands of service stations, which is supported by logistics infrastructure. This infrastructure includes surface and underground storage depots and a long-distance pipeline network.
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