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.
Oncternal Therapeutics's Sloan Ratio for the quarter that ended in Sep. 2024 was -210.35%.
As of Sep. 2024, Oncternal Therapeutics has a Sloan Ratio of -210.35%, indicating there is a warning stage of accrual build up.
Oncternal Therapeutics 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 Oncternal Therapeutics's Sloan Ratio %
For the Biotechnology subindustry, Oncternal Therapeutics'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.
Oncternal Therapeutics's Sloan Ratio % Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Oncternal Therapeutics's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Oncternal Therapeutics's Sloan Ratio % falls into.
Oncternal Therapeutics 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.
Oncternal Therapeutics's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Oncternal Therapeutics's Net Income for the trailing twelve months (TTM) ended in Sep. 2024 was -9.164 (Dec. 2023 ) + -8.388 (Mar. 2024 ) + -8.559 (Jun. 2024 ) + -8.464 (Sep. 2024 ) = $-34.58 Mil.
Oncternal Therapeutics's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2024 was -6.419 (Dec. 2023 ) + -7.438 (Mar. 2024 ) + -5.822 (Jun. 2024 ) + -6.953 (Sep. 2024 ) = $-26.63 Mil.
Oncternal Therapeutics's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2024 was -1.808 (Dec. 2023 ) + 7.224 (Mar. 2024 ) + 5.808 (Jun. 2024 ) + 13.65 (Sep. 2024 ) = $24.87 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.
Oncternal Therapeutics (NAS:ONCT) 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. 2024, Oncternal Therapeutics has a Sloan Ratio of -210.35%, indicating there is a warning stage of accrual build up.
Oncternal Therapeutics Sloan Ratio % Related Terms
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Oncternal Therapeutics Inc is a clinical-stage oncology company developing first-in-class, novel therapies that target a broad spectrum of cancers with a large unmet medical need. The Company's clinical pipeline includes zilovertamab, a humanized monoclonal antibody that binds to ROR1 (Receptor-tyrosine kinase-like Orphan Receptor 1), and ONCT-216, a small molecule inhibiting the biological activity of ETS-family transcription factor oncoprotein. The Company is also developing ONCT-808, a CAR-T (chimeric antigen receptor T-cells) product candidate that target ROR1, and ONCT-534, a dual-action androgen receptor inhibitor product candidate for the treatment of castration-resistant prostate and other androgen receptor-driven cancers. The Company has one operating segment in the United States.
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