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.
Surgutneftegas PJSC's Sloan Ratio for the quarter that ended in Jun. 2023 was 12.53%.
As of Jun. 2023, Surgutneftegas PJSC has a Sloan Ratio of 12.53%, indicating there is a warning stage of accrual build up.
Surgutneftegas PJSC Sloan Ratio % Historical Data
The historical data trend for Surgutneftegas PJSC'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 Surgutneftegas PJSC's Sloan Ratio %
For the Oil & Gas Integrated subindustry, Surgutneftegas PJSC'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.
Surgutneftegas PJSC's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Surgutneftegas PJSC's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Surgutneftegas PJSC's Sloan Ratio % falls into.
Surgutneftegas PJSC 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.
Surgutneftegas PJSC's Sloan Ratio for the fiscal year that ended in Dec. 2020 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Surgutneftegas PJSC's Net Income for the trailing twelve months (TTM) ended in Jun. 2023 was 153010 (Jun. 2021 ) + 841875 (Jun. 2023 ) = ₽994,885 Mil.
Surgutneftegas PJSC's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2023 was 256701 (Jun. 2021 ) + 150375 (Jun. 2023 ) = ₽407,076 Mil.
Surgutneftegas PJSC's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2023 was -84982 (Jun. 2021 ) + -255305 (Jun. 2023 ) = ₽-340,287 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.
Surgutneftegas PJSC (MIC:SNGSP.PFD) 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. 2023, Surgutneftegas PJSC has a Sloan Ratio of 12.53%, indicating there is a warning stage of accrual build up.
Surgutneftegas PJSC Sloan Ratio % Related Terms
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Surgutneftegas PJSC (MIC:SNGSP.PFD) Business Description
Surgutneftegas PJSC or simply Surgutneftegas, is a Russian-based integrated oil and gas company. The company's operations include exploration, production, refinement, and sales of oil and gas. Upstream, it produces oil and gas from fields concentrated in Eastern and Western Serbia. Much of its upstream revenue comes from exporting crude oil. Downstream, Surgutneftegas refines, markets, distributes and sells refined oil products such as gasoline and diesel fuels. Included in its distribution network are oil storage depots, tanker trucks, and filling stations. Similar to its upstream operations, the majority of downstream revenue comes from exporting refined oil products.
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