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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.
PSAV's Sloan Ratio for the quarter that ended in Mar. 2016 was 0.88%.
As of Mar. 2016, PSAV has a Sloan Ratio of 0.88%, indicating the company is in the safe zone and there is no funny business with accruals.
PSAV (NYSE:PSAV) 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. 2016, PSAV has a Sloan Ratio of 0.88%, indicating the company is in the safe zone and there is no funny business with accruals.
PSAV Sloan Ratio % Related Terms
PSAV Sloan Ratio % Historical Data
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The historical data trend for PSAV'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.
PSAV vs CRCO, ASKH, PTSX: Sloan Ratio % Comparison
For the Broadcasting subindustry, PSAV'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.
PSAV Sloan Ratio % vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, PSAV's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where PSAV'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.
PSAV's Sloan Ratio for the fiscal year that ended in Dec. 2015 is calculated as
PSAV's Net Income for the trailing twelve months (TTM) ended in Mar. 2016 was 10.021 (Jun. 2015 ) + -18.434 (Sep. 2015 ) + -2.5 (Dec. 2015 ) + 6.946 (Mar. 2016 ) = $-3.97 Mil.
PSAV's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2016 was 24.879 (Jun. 2015 ) + 13.977 (Sep. 2015 ) + 20.753 (Dec. 2015 ) + 27.149 (Mar. 2016 ) = $86.76 Mil.
PSAV's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2016 was -33.819 (Jun. 2015 ) + -19.928 (Sep. 2015 ) + -13.354 (Dec. 2015 ) + -34.71 (Mar. 2016 ) = $-101.81 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.
PSAV (PSAV) has a Sloan Ratio % of 0.88% as of Mar. 2016. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PSAV and its competitors.
Is PSAV's Sloan Ratio % too high?
PSAV's current Sloan Ratio % is 0.88%.
How does PSAV's Sloan Ratio % compare to CRCO and ASKH?
PSAV's Sloan Ratio % of 0.88% can be compared against companies in the Media - Diversified industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for a Media - Diversified company?
A good Sloan Ratio % depends on the Media - Diversified industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on PSAV and its competitors. PSAV's current Sloan Ratio % is 0.88%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PSAV stock overvalued right now?
PSAV (PSAV) has a current Sloan Ratio % of 0.88%. The current Sloan Ratio % is 0.88%. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For PSAV (PSAV), the current Sloan Ratio % is 0.88% as of Mar. 2016. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
PSAV Inc was incorporated in Delaware on August 11, 2015. The Company along with its subsidiaries provides event technology services. The Company provides services including audiovisual services, equipment rental, staging and meeting services, communication systems, and related technical support to its customers in various venues, including hotels and convention centers. The Company's Video technology includes front and rear projection from large format HD high lumen projection to boardroom-style projectors, playback systems, image magnification, digital capture, cameras and display systems, including LED displays and video walls; Rigging Solutions include design and installation of permanently installed rig points in meeting venues, day-to-day deployment of rigging systems to safely transform meeting and event spaces for larger and more sophisticated set and lighting designs and certified trainers and inspectors; Wi-Fi Solutions include managing venues' entire network to provide customers secure and reliable wired and wireless solutions; Staging includes collections of custom screens and the ability to provide concert sound, broadcast quality projection, seasoned stage producers, and CAD drawing; Creative Services including Thematic creation, PowerPoint display, video creation, & stage sets; Mobile Device Applications tailored to the specific events that provide the schedule of events, maps, sponsors and detailed information on the host customer; Video Mapping / Simultaneous Translation; Virtual Meetings and Events; Event Consultation and Support, Power Distribution Solutions including streamlining of special event power distribution for event and production power across events, meeting rooms and trade shows; Audio including microphone and sound solutions with digital mixers, wireless microphones, networked audio and proprietary software to control live sound systems; and Lighting including speaker and stage lighting, intelligent lighting and decorative and theatrical lighting through gel lights and LED lights. The Company operates in two segments including Domestic and International. The Domestic segment provides services to customers throughout the United States and Puerto Rico; and is provider of event technology services at approximately over 1,000 hotel properties and other event venues. The International segment provides services to its customers in Canada, Mexico, the Caribbean, Europe and the Middle East, in addition to providing non-venue based services in Asia; and provides event technology services at approximately over 300 international hotel properties and other event venues. The Company's customers include corporations, event organizers, trade associations and meeting planners. The Company faces competition from Freeman Company.
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