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.
Havila Shipping ASA's Sloan Ratio for the quarter that ended in Mar. 2024 was -13.03%.
As of Mar. 2024, Havila Shipping ASA has a Sloan Ratio of -13.03%, indicating there is a warning stage of accrual build up.
Havila Shipping ASA Sloan Ratio % Historical Data
The historical data trend for Havila Shipping ASA'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 Havila Shipping ASA's Sloan Ratio %
For the Marine Shipping subindustry, Havila Shipping ASA'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.
Havila Shipping ASA's Sloan Ratio % Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Havila Shipping ASA's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Havila Shipping ASA's Sloan Ratio % falls into.
Havila Shipping ASA 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.
Havila Shipping ASA's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Havila Shipping ASA's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was -5.436 (Jun. 2023 ) + 28.912 (Sep. 2023 ) + -28.888 (Dec. 2023 ) + 0.084 (Mar. 2024 ) = kr-5.3 Mil.
Havila Shipping ASA's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 14.302 (Jun. 2023 ) + 59.874 (Sep. 2023 ) + 78.761 (Dec. 2023 ) + 60.463 (Mar. 2024 ) = kr213.4 Mil.
Havila Shipping ASA's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -4.067 (Jun. 2023 ) + 0.695 (Sep. 2023 ) + -27.688 (Dec. 2023 ) + -3.951 (Mar. 2024 ) = kr-35.0 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.
Havila Shipping ASA (OSL:HAVI) 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, Havila Shipping ASA has a Sloan Ratio of -13.03%, indicating there is a warning stage of accrual build up.
Havila Shipping ASA Sloan Ratio % Related Terms
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Havila Shipping ASA (OSL:HAVI) Business Description
Havila Shipping ASA along with its subsidiaries is engaged in the shipping business. The company manages and operates offshore service vessels. The group is involved in the operation of approximately 27 vessels. Its segment includes Anchor handling tug service, Anchor handling tug service - Asia, Platform supply vessel, Rescue recovery vessel and Subsea operations vessels. It operates in five geographical areas namely The Norwegian, British and Danish sectors of the North Sea, Asia, Brazil, Africa and the Netherlands. The group generates revenue mainly from customers located in Norway, the UK, Denmark, Asia, and Brazil.
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