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.
Triveni Turbine's Sloan Ratio for the quarter that ended in Mar. 2024 was 0.00%.
As of Mar. 2024, Triveni Turbine has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Triveni Turbine Sloan Ratio % Historical Data
The historical data trend for Triveni Turbine'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 Triveni Turbine's Sloan Ratio %
For the Specialty Industrial Machinery subindustry, Triveni Turbine'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.
Triveni Turbine's Sloan Ratio % Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Triveni Turbine's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Triveni Turbine's Sloan Ratio % falls into.
Triveni Turbine 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.
Triveni Turbine's Sloan Ratio for the fiscal year that ended in Mar. 2024 is calculated as
Triveni Turbine's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 607.5 (Jun. 2023 ) + 642.3 (Sep. 2023 ) + 681.9 (Dec. 2023 ) + 759.7 (Mar. 2024 ) = ₹2,691 Mil.
Triveni Turbine's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 0 (Jun. 2023 ) + 0 (Sep. 2023 ) + 0 (Dec. 2023 ) + 0 (Mar. 2024 ) = ₹0 Mil.
Triveni Turbine's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was 0 (Jun. 2023 ) + 0 (Sep. 2023 ) + 0 (Dec. 2023 ) + 0 (Mar. 2024 ) = ₹0 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.
Triveni Turbine (NSE:TRITURBINE) 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 Mar. 2024, Triveni Turbine has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Triveni Turbine Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Triveni Turbine's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Triveni Turbine (NSE:TRITURBINE) Business Description
Triveni Turbine Ltd is an India-based company that supplies power-generating equipment and solutions. The company offers back-pressure and condensing steam turbines, related spare parts, and aftermarket services. In addition, the company owns a partial stake in GE Triveni Limited, a joint venture cofounded by General Electric and Triveni Turbine. This joint venture offers a portfolio of steam turbine products in the global industrial power-generation market. Triveni Turbine's products are used in sectors including sugar, distillery, palm oil, independent power producers, and textiles. The company generates the majority of its sales from the Indian domestic market.
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