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.
FiscalNote Holdings's Sloan Ratio for the quarter that ended in Dec. 2024 was -22.79%.
As of Dec. 2024, FiscalNote Holdings has a Sloan Ratio of -22.79%, indicating there is a warning stage of accrual build up.
FiscalNote Holdings Sloan Ratio % Historical Data
The historical data trend for FiscalNote Holdings'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 FiscalNote Holdings's Sloan Ratio %
For the Information Technology Services subindustry, FiscalNote Holdings'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.
FiscalNote Holdings's Sloan Ratio % Distribution in the Software Industry
For the Software industry and Technology sector, FiscalNote Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where FiscalNote Holdings'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.
FiscalNote Holdings's Sloan Ratio for the fiscal year that ended in Dec. 2024 is calculated as
FiscalNote Holdings's Net Income for the trailing twelve months (TTM) ended in Dec. 2024 was 50.599 (Mar. 2024 ) + -12.764 (Jun. 2024 ) + -14.935 (Sep. 2024 ) + -13.383 (Dec. 2024 ) = $9.5 Mil.
FiscalNote Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2024 was 2.741 (Mar. 2024 ) + -3.729 (Jun. 2024 ) + -2.962 (Sep. 2024 ) + -1.348 (Dec. 2024 ) = $-5.3 Mil.
FiscalNote Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2024 was 89.192 (Mar. 2024 ) + -2.241 (Jun. 2024 ) + -2.442 (Sep. 2024 ) + 4.659 (Dec. 2024 ) = $89.2 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.
FiscalNote Holdings (NYSE:NOTE) 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 Dec. 2024, FiscalNote Holdings has a Sloan Ratio of -22.79%, indicating there is a warning stage of accrual build up.
FiscalNote Holdings Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of FiscalNote Holdings's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
FiscalNote Holdings Inc is a provider of global policy and market intelligence solutions. Leveraging AI and analytics, it delivers actionable legal and policy insights for businesses, government institutions, and nonprofits. Its suite of products includes FiscalNote Core, CQ Federal, and EU Issue Tracker, facilitating effective policy management and risk mitigation. With expert analysis from FrontierView, Oxford Analytica, and Dragonfly Eye, it offers geopolitical and market intelligence services. Operating as one segment, it generates revenue by integrating policy intelligence into daily operations. Geographically the company generates the majority of its revenue from North America, Europe, Australia, and Asia, with the majority generated from North America.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
NOTE has been successfully added to your 