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.
As of Sep. 2020, CONSOL Coal Resources LP has a Sloan Ratio of -6.62%, indicating the company is in the safe zone and there is no funny business with accruals.
CONSOL Coal Resources LP Sloan Ratio % Historical Data
* 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 CONSOL Coal Resources LP's Sloan Ratio %
For the Thermal Coal subindustry, CONSOL Coal Resources LP'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.
CONSOL Coal Resources LP's Sloan Ratio % Distribution in the Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, CONSOL Coal Resources LP's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where CONSOL Coal Resources LP's Sloan Ratio % falls into.
CONSOL Coal Resources LP 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.
CONSOL Coal Resources LP's Sloan Ratio for the fiscal year that ended in Dec. 2019 is calculated as
CONSOL Coal Resources LP's Net Income for the trailing twelve months (TTM) ended in Sep. 2020 was 8.974 (Dec. 2019 ) + 0.164 (Mar. 2020 ) + -7.854 (Jun. 2020 ) + -5.529 (Sep. 2020 ) = $-4.2 Mil.
CONSOL Coal Resources LP's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2020 was 13.62 (Dec. 2019 ) + 16.777 (Mar. 2020 ) + 6.539 (Jun. 2020 ) + 10.814 (Sep. 2020 ) = $47.8 Mil.
CONSOL Coal Resources LP's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2020 was -7.821 (Dec. 2019 ) + -5.173 (Mar. 2020 ) + -4.061 (Jun. 2020 ) + -3.853 (Sep. 2020 ) = $-20.9 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.
CONSOL Coal Resources LP (NYSE:CCR) 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. 2020, CONSOL Coal Resources LP has a Sloan Ratio of -6.62%, indicating the company is in the safe zone and there is no funny business with accruals.
CONSOL Coal Resources LP Sloan Ratio % Related Terms
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CONSOL Coal Resources LP (CONSOL Coal Resources LP) Business Description
CONSOL Coal Resources LP is engaged in the thermal coal operations in Pennsylvania. The company's assets include interests in CONSOL energy's Pennsylvania mining complex, which consists of approximately three underground mines (Bailey Mine, Enlow Fork Mine, and Harvey Mine) and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States. All the operations of the group are conducted at a single mining complex located in the Northern Appalachian Basin in southwestern Pennsylvania.
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