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.
Rosseti PJSC's Sloan Ratio for the quarter that ended in Sep. 2021 was 0.86%.
As of Sep. 2021, Rosseti PJSC has a Sloan Ratio of 0.86%, indicating the company is in the safe zone and there is no funny business with accruals.
Rosseti PJSC Sloan Ratio % Historical Data
The historical data trend for Rosseti PJSC'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 Rosseti PJSC's Sloan Ratio %
For the Utilities - Regulated Electric subindustry, Rosseti PJSC'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.
Rosseti PJSC's Sloan Ratio % Distribution in the Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Rosseti PJSC's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Rosseti PJSC's Sloan Ratio % falls into.
Rosseti PJSC 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.
Rosseti PJSC's Sloan Ratio for the fiscal year that ended in Dec. 2020 is calculated as
Rosseti PJSC's Net Income for the trailing twelve months (TTM) ended in Sep. 2021 was -12344 (Dec. 2020 ) + 26177 (Mar. 2021 ) + 20830 (Jun. 2021 ) + 24031 (Sep. 2021 ) = ₽58,694.00 Mil.
Rosseti PJSC's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2021 was 63218 (Dec. 2020 ) + 78450 (Mar. 2021 ) + 78295 (Jun. 2021 ) + 63900 (Sep. 2021 ) = ₽283,863.00 Mil.
Rosseti PJSC's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2021 was -88518 (Dec. 2020 ) + -55706 (Mar. 2021 ) + -32759 (Jun. 2021 ) + -72561 (Sep. 2021 ) = ₽-249,544.00 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.
Rosseti PJSC (RTC:RSTIP.PFD) 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. 2021, Rosseti PJSC has a Sloan Ratio of 0.86%, indicating the company is in the safe zone and there is no funny business with accruals.
Rosseti PJSC Sloan Ratio % Related Terms
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Rosseti PJSC is a Russian electric utility company of whom the Russian Federation holds a controlling stake. Rosseti's core business is the transmission and distribution of electricity. With its many subsidiaries in different regions all throughout the country, the company is the operator of the vast majority of Russia's energy grids. Rosseti derives almost all of its revenue from electricity transmission and distribution service charges. This income stream is primarily determined by changes in Russian electricity consumption and tariffs determined by the Russian government. The electricity markets of Moscow, the Central Federal District, and the Volga region constitute a sizable amount of the company's total revenue. Rosetti is one of the largest electric grid companies in the world.
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