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.
AX Real Estate's Sloan Ratio for the quarter that ended in Apr. 2024 was 11.45%.
As of Apr. 2024, AX Real Estate has a Sloan Ratio of 11.45%, indicating there is a warning stage of accrual build up.
AX Real Estate Sloan Ratio % Historical Data
The historical data trend for AX Real Estate'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 AX Real Estate's Sloan Ratio %
For the Real Estate - Diversified subindustry, AX Real Estate'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.
AX Real Estate's Sloan Ratio % Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, AX Real Estate's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where AX Real Estate's Sloan Ratio % falls into.
AX Real Estate 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.
AX Real Estate's Sloan Ratio for the fiscal year that ended in Oct. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
AX Real Estate's Net Income for the trailing twelve months (TTM) ended in Apr. 2024 was -5.142 (Oct. 2023 ) + 2.603 (Apr. 2024 ) = €-2.54 Mil.
AX Real Estate's Cash Flow from Operations for the trailing twelve months (TTM) ended in Apr. 2024 was -16.842 (Oct. 2023 ) + 6.079 (Apr. 2024 ) = €-10.76 Mil.
AX Real Estate's Cash Flow from Investing for the trailing twelve months (TTM) ended in Apr. 2024 was -20.161 (Oct. 2023 ) + -7.022 (Apr. 2024 ) = €-27.18 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.
AX Real Estate (MAL:AXR) 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 Apr. 2024, AX Real Estate has a Sloan Ratio of 11.45%, indicating there is a warning stage of accrual build up.
AX Real Estate Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of AX Real Estate's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
AX Real Estate PLC serves as the holding company of the Estates Group within the AX Group, with the former boasting a diverse portfolio of properties. It is engaged in four main business sectors namely, Care, Construction, Hospitality, Real Estate, and Development, and is also involved in renewable energy. It operates into Five reportable segments Hospitality, Construction, Healthcare, Real Estate and Development, Administration, Finance & Investment. It generates the majority of its revenue from the Hospitality segment.
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