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, Advanced Info Service PCL has a Sloan Ratio of -1.01%, indicating the company is in the safe zone and there is no funny business with accruals.
Advanced Info Service PCL 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 Advanced Info Service PCL's Sloan Ratio %
For the Telecom Services subindustry, Advanced Info Service PCL'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.
Advanced Info Service PCL's Sloan Ratio % Distribution in the Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Advanced Info Service PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Advanced Info Service PCL's Sloan Ratio % falls into.
Advanced Info Service PCL 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.
Advanced Info Service PCL's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Advanced Info Service PCL's Net Income for the trailing twelve months (TTM) ended in Sep. 2024 was 266.661 (Dec. 2023 ) + 315.165 (Mar. 2024 ) + 315.828 (Jun. 2024 ) + 342.418 (Sep. 2024 ) = S$1,240 Mil.
Advanced Info Service PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2024 was 957.961 (Dec. 2023 ) + 1117.007 (Mar. 2024 ) + 882.464 (Jun. 2024 ) + 1196.092 (Sep. 2024 ) = S$4,154 Mil.
Advanced Info Service PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2024 was -1650.427 (Dec. 2023 ) + -319.102 (Mar. 2024 ) + -305.307 (Jun. 2024 ) + -468.734 (Sep. 2024 ) = S$-2,744 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.
Advanced Info Service PCL (SGX:TADD) 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, Advanced Info Service PCL has a Sloan Ratio of -1.01%, indicating the company is in the safe zone and there is no funny business with accruals.
Advanced Info Service PCL Sloan Ratio % Related Terms
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Advanced Info Service PCL is a triple-play telecommunications provider. The company generates revenues from the provision of mobile phone services, mobile handset sales, and broadband services. Its broadband service includes various fibre technologies for households, leveraging the company's owned fibre infrastructure. In addition to the fibre networks, it also has mobile infrastructure. Its reportable segments include; Mobile phone services which is also the key revenue generating segment, Mobile phone and equipment sales, and Datanet and broadband services. The company generates the vast majority of its revenue in Thailand.
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