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. 2024, Manila Bulletin Publishing has a Sloan Ratio of 0.96%, indicating the company is in the safe zone and there is no funny business with accruals.
Manila Bulletin Publishing 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 Manila Bulletin Publishing's Sloan Ratio %
For the Publishing subindustry, Manila Bulletin Publishing'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.
Manila Bulletin Publishing's Sloan Ratio % Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Manila Bulletin Publishing's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Manila Bulletin Publishing's Sloan Ratio % falls into.
Manila Bulletin Publishing 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.
Manila Bulletin Publishing's Net Income for the trailing twelve months (TTM) ended in Sep. 2024 was 46.841 (Dec. 2023 ) + 6.912 (Mar. 2024 ) + 0.177 (Jun. 2024 ) + 8.707 (Sep. 2024 ) = ₱62.6 Mil.
Manila Bulletin Publishing's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2024 was 15.421 (Dec. 2023 ) + 7.106 (Mar. 2024 ) + 36.439 (Jun. 2024 ) + -34.446 (Sep. 2024 ) = ₱24.5 Mil.
Manila Bulletin Publishing's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2024 was -41.609 (Dec. 2023 ) + -3.331 (Mar. 2024 ) + -4.524 (Jun. 2024 ) + 8.576 (Sep. 2024 ) = ₱-40.9 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.
Manila Bulletin Publishing (PHS:MB) 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, Manila Bulletin Publishing has a Sloan Ratio of 0.96%, indicating the company is in the safe zone and there is no funny business with accruals.
Manila Bulletin Publishing Sloan Ratio % Related Terms
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Manila Bulletin Publishing Corp is a Philippines-based company. The company is in the business of providing newspapers and various magazines. The company publishes its newspaper seven days a week. Its magazine section provides an agriculture magazine, which tells articles regarding trends in farming, fishing, crop propagation, and livestock raising, cruising magazine, which tells about local tourism, animal scene magazine, which gives information regarding breeding information, addresses veterinary concerns, and advice on care, and sense and style magazine, which gives information of the fashion and beauty, food and dining, and shopping ideas. The company earns maximum revenue from advertising and circulation.
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