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 Mar. 2024, Robinsons Retail Holdings has a Sloan Ratio of -1.44%, indicating the company is in the safe zone and there is no funny business with accruals.
Robinsons Retail Holdings 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 Robinsons Retail Holdings's Sloan Ratio %
For the Department Stores subindustry, Robinsons Retail Holdings'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.
Robinsons Retail Holdings's Sloan Ratio % Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Robinsons Retail Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Robinsons Retail Holdings's Sloan Ratio % falls into.
Robinsons Retail Holdings 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.
Robinsons Retail Holdings's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Robinsons Retail Holdings's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 1261.836 (Jun. 2023 ) + 783.338 (Sep. 2023 ) + 1515.191 (Dec. 2023 ) + 5081.344 (Mar. 2024 ) = ₱8,642 Mil.
Robinsons Retail Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 2216.997 (Jun. 2023 ) + 4282.241 (Sep. 2023 ) + 8012.382 (Dec. 2023 ) + -771.527 (Mar. 2024 ) = ₱13,740 Mil.
Robinsons Retail Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -773.714 (Jun. 2023 ) + 246.057 (Sep. 2023 ) + -1451.52 (Dec. 2023 ) + -800.387 (Mar. 2024 ) = ₱-2,780 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.
Robinsons Retail Holdings (PHS:RRHI) 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, Robinsons Retail Holdings has a Sloan Ratio of -1.44%, indicating the company is in the safe zone and there is no funny business with accruals.
Robinsons Retail Holdings Sloan Ratio % Related Terms
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Robinsons Retail Holdings (PHS:RRHI) Business Description
Robinsons Retail Holdings Inc is a multiformat retailer in the Philippines. The company operates in six business segments: Supermarkets (Robinsons Supermarket, Robinsons Easymart, and Robinsons Selections), Department stores (Robinsons Department Store), Drugstores (Southstar Drug and Manson Drug), DIY stores (True Home by True Value, A.M. Builders' Depot, Handyman Do it Best, True Value), Convenience stores (Ministop) and Specialty stores (toys retailer Toys "R" Us, one-price-point retailer Daiso Japan, consumer electronics and appliances retailers Robinsons Appliances and Savers Appliances and international fashion brands, such as Topshop, Topman, Dorothy Perkins, and international cosmetics brands such as Shiseido).
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