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 Jun. 2024, HIAG Immobilien Holding AG has a Sloan Ratio of 3.88%, indicating the company is in the safe zone and there is no funny business with accruals.
HIAG Immobilien Holding AG 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 HIAG Immobilien Holding AG's Sloan Ratio %
For the Real Estate - Diversified subindustry, HIAG Immobilien Holding AG'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.
HIAG Immobilien Holding AG's Sloan Ratio % Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, HIAG Immobilien Holding AG's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where HIAG Immobilien Holding AG's Sloan Ratio % falls into.
HIAG Immobilien Holding AG 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.
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
HIAG Immobilien Holding AG's Net Income for the trailing twelve months (TTM) ended in Jun. 2024 was 24.827 (Dec. 2023 ) + 36.191 (Jun. 2024 ) = CHF61.0 Mil.
HIAG Immobilien Holding AG's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2024 was 4.963 (Dec. 2023 ) + 54.218 (Jun. 2024 ) = CHF59.2 Mil.
HIAG Immobilien Holding AG's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2024 was -40.445 (Dec. 2023 ) + -36.322 (Jun. 2024 ) = CHF-76.8 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.
HIAG Immobilien Holding AG (LTS:0QU6) 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 Jun. 2024, HIAG Immobilien Holding AG has a Sloan Ratio of 3.88%, indicating the company is in the safe zone and there is no funny business with accruals.
HIAG Immobilien Holding AG Sloan Ratio % Related Terms
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HIAG Immobilien Holding AG is a property redevelopment company. The company's portfolio covers 40 sites with a total land area of 2.5 million square meters. Its core business focuses on the management of master plans and building permit procedures, site marketing, the steering of redevelopment processes, and portfolio management, including property administration. About 91% of its real estate portfolio is situated in the economic catchment areas of Zurich/Zug, Baden/Brugg, Basel, and Geneva. The company's business activities are divided into three segments Yielding Portfolio, Development Portfolio, and the Transaction segment.
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