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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 Jun. 2015, Shimmick Construction Company has a Sloan Ratio of 6.40%, indicating the company is in the safe zone and there is no funny business with accruals.
Shimmick Construction Company (NAS:SCCI) 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 Jun. 2015, Shimmick Construction Company has a Sloan Ratio of 6.40%, indicating the company is in the safe zone and there is no funny business with accruals.
Shimmick Construction Company Sloan Ratio % Related Terms
Shimmick Construction Company 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.
Shimmick Construction Company Sloan Ratio % Chart
Shimmick Construction Company Annual Data
Trend
Dec13
Dec14
Sloan Ratio %
-5.88
-1.88
Shimmick Construction Company Semi-Annual Data
Dec13
Jun14
Dec14
Jun15
Sloan Ratio %
0.00
0.00
-1.88
6.40
SCCI vs TSSI, SWMM, SFHI: Sloan Ratio % Comparison
For the Engineering & Construction subindustry, Shimmick Construction Company'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.
Shimmick Construction Company Sloan Ratio % vs Construction Industry
For the Construction industry and Industrials sector, Shimmick Construction Company's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Shimmick Construction Company's Sloan Ratio % falls into.
Shimmick Construction Company 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.
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Shimmick Construction Company's Net Income for the trailing twelve months (TTM) ended in Jun. 2015 was 6.477 (Dec. 2014 ) + 5.702 (Jun. 2015 ) = $12.18 Mil.
Shimmick Construction Company's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2015 was 13.075 (Dec. 2014 ) + -8.04 (Jun. 2015 ) = $5.04 Mil.
Shimmick Construction Company's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2015 was -1.805 (Dec. 2014 ) + -8.246 (Jun. 2015 ) = $-10.05 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.
Shimmick Construction Company (SCCI) has a Sloan Ratio % of 6.40% as of Jun. 2015. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Shimmick Construction Company and its competitors.
Is Shimmick Construction Company's Sloan Ratio % too high?
Shimmick Construction Company's current Sloan Ratio % is 6.40%.
How does Shimmick Construction Company's Sloan Ratio % compare to TSSI and SWMM?
Shimmick Construction Company's Sloan Ratio % of 6.40% can be compared against companies in the Construction industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for a Construction company?
A good Sloan Ratio % depends on the Construction industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Shimmick Construction Company and its competitors. Shimmick Construction Company's current Sloan Ratio % is 6.40%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shimmick Construction Company stock overvalued right now?
Shimmick Construction Company (SCCI) has a current Sloan Ratio % of 6.40%. The current Sloan Ratio % is 6.40%. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Shimmick Construction Company (SCCI), the current Sloan Ratio % is 6.40% as of Jun. 2015. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Shimmick Construction Company Inc is a heavy civil construction company founded in 1990. The Company is engaged in construction activities in the western United States, with operations in California. The Company offers general construction, construction management, and design-build services to federal, state, and local public agencies and private customers in California and the Western United States. The Company operates in two segments including construction Projects and Construction Materials. The Construction Projects segment performs construction projects including new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, utilities and other infrastructure projects. The Construction Materials segment mines and processes aggregates and operates plants that produce construction materials for internal use and for sale to third parties. The Company's customers include Caltrans, City of San Francisco, Port of Long Beach, Port of Los Angeles, City of Los Angeles, LA MTA, BART, VTA, and the Metropolitan Water District of Southern California (MWD). The Company faces competition from competitors including Balfour Beatty plc, Barnard Construction Company, Inc., Dragados S.A., Flatiron Construction Corp., Fluor Corporation, Granite Construction Incorporated, Kiewit Corporation, Obayashi Corporation, Skanska AB, Traylor Bros., Inc., Tutor Perini Corporation, and Walsh Construction Co. The Company's business is subject to various federal, state and local laws and regulations relating to the environment, including those relating to discharges to air, water and land, the handling and disposal of solid and hazardous waste, the handling of underground storage tanks and the cleanup of properties affected by hazardous substances.
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