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.
Harboes Bryggeri A/S's Sloan Ratio for the quarter that ended in Jan. 2024 was -4.32%.
As of Jan. 2024, Harboes Bryggeri A/S has a Sloan Ratio of -4.32%, indicating the company is in the safe zone and there is no funny business with accruals.
Harboes Bryggeri A/S Sloan Ratio % Historical Data
The historical data trend for Harboes Bryggeri A/S'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 Harboes Bryggeri A/S's Sloan Ratio %
For the Beverages - Brewers subindustry, Harboes Bryggeri A/S'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.
Harboes Bryggeri A/S's Sloan Ratio % Distribution in the Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Harboes Bryggeri A/S's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Harboes Bryggeri A/S's Sloan Ratio % falls into.
Harboes Bryggeri A/S 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.
Harboes Bryggeri A/S's Sloan Ratio for the fiscal year that ended in Apr. 2023 is calculated as
Harboes Bryggeri A/S's Net Income for the trailing twelve months (TTM) ended in Jan. 2024 was 8.97 (Apr. 2023 ) + 20.543 (Jul. 2023 ) + 10.293 (Oct. 2023 ) + 9.674 (Jan. 2024 ) = kr49 Mil.
Harboes Bryggeri A/S's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jan. 2024 was -40.355 (Apr. 2023 ) + 89.245 (Jul. 2023 ) + 41.295 (Oct. 2023 ) + 74.707 (Jan. 2024 ) = kr165 Mil.
Harboes Bryggeri A/S's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jan. 2024 was -12.782 (Apr. 2023 ) + -5.24 (Jul. 2023 ) + -11.349 (Oct. 2023 ) + -32.634 (Jan. 2024 ) = kr-62 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.
Harboes Bryggeri A/S (LTS:0ENE) 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 Jan. 2024, Harboes Bryggeri A/S has a Sloan Ratio of -4.32%, indicating the company is in the safe zone and there is no funny business with accruals.
Harboes Bryggeri A/S Sloan Ratio % Related Terms
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Harboes Bryggeri A/S (LTS:0ENE) Business Description
Harboes Bryggeri A/S is a Denmark-based company which is engaged in the production and sale of alcoholic and non-alcoholic beverages. The product portfolio of the company includes beer, soft drinks, non-alcoholic malt and dark malt, energy drinks, juices, ciders, water, and others. Harboes has its presence in Denmark, Germany, and other countries. The majority of the company's revenue comes from Germany.
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