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.
Medx Health's Sloan Ratio for the quarter that ended in Sep. 2024 was 0.00%.
As of Sep. 2024, Medx Health has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Medx Health Sloan Ratio % Historical Data
The historical data trend for Medx Health'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 Medx Health's Sloan Ratio %
For the Medical Devices subindustry, Medx Health'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.
Medx Health's Sloan Ratio % Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Medx Health's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Medx Health'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.
Medx Health's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Medx Health's Net Income for the trailing twelve months (TTM) ended in Sep. 2024 was -0.449 (Dec. 2023 ) + -0.685 (Mar. 2024 ) + -0.676 (Jun. 2024 ) + -0.512 (Sep. 2024 ) = $-2.32 Mil.
Medx Health's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2024 was -0.458 (Dec. 2023 ) + -0.337 (Mar. 2024 ) + -0.553 (Jun. 2024 ) + -0.516 (Sep. 2024 ) = $-1.86 Mil.
Medx Health's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2024 was 0 (Dec. 2023 ) + 0 (Mar. 2024 ) + 0 (Jun. 2024 ) + 0 (Sep. 2024 ) = $0.00 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.
Medx Health (OTCPK:MDXHF) 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 Sep. 2024, Medx Health has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Medx Health Sloan Ratio % Related Terms
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Medx Health Corp is engaged in the development, manufacturing, and marketing of skin-related screening tools and phototherapy devices for pain relief and tissue repair. Its two main product lines are; SIAscopy, a medical device technology that is used to scan skin for suspicious moles and lesions; and Phototherapeutic medical devices, which use light energy in lower-level laser and LED to provide effective treatment of pain and tissue damage in the rehabilitation market. It derives key revenue from the sale of Phototherapeutic lasers. The company sells its products internationally, of which prime revenue is generated in Canada and the United States.
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