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.
YTO Express Group Co's Sloan Ratio for the quarter that ended in Sep. 2024 was 13.19%.
As of Sep. 2024, YTO Express Group Co has a Sloan Ratio of 13.19%, indicating there is a warning stage of accrual build up.
YTO Express Group Co Sloan Ratio % Historical Data
The historical data trend for YTO Express Group Co'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 YTO Express Group Co's Sloan Ratio %
For the Integrated Freight & Logistics subindustry, YTO Express Group Co'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.
YTO Express Group Co's Sloan Ratio % Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, YTO Express Group Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where YTO Express Group Co's Sloan Ratio % falls into.
YTO Express Group Co 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.
YTO Express Group Co's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
YTO Express Group Co's Net Income for the trailing twelve months (TTM) ended in Sep. 2024 was 1063.7 (Dec. 2023 ) + 943.275 (Mar. 2024 ) + 1044.352 (Jun. 2024 ) + 942.56 (Sep. 2024 ) = ¥3,994 Mil.
YTO Express Group Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2024 was 2227.737 (Dec. 2023 ) + 579.951 (Mar. 2024 ) + 1731.003 (Jun. 2024 ) + 1771.811 (Sep. 2024 ) = ¥6,311 Mil.
YTO Express Group Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2024 was -2100.567 (Dec. 2023 ) + -3222.941 (Mar. 2024 ) + -978.871 (Jun. 2024 ) + -2008.497 (Sep. 2024 ) = ¥-8,311 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.
YTO Express Group Co (SHSE:600233) 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, YTO Express Group Co has a Sloan Ratio of 13.19%, indicating there is a warning stage of accrual build up.
YTO Express Group Co Sloan Ratio % Related Terms
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YTO Express is one of the Tongda Operators—the top four national express delivery companies that use the network partner model. In this model, Tongdas provide line-haul transportation, sorting, and waybill services to their network partners for fees, while their local network partners provide first-mile pickup and last-mile delivery services under the Tongdas' brands and collect customer payments. The company was founded by Yu Huijiao in 2020. Yu remains chair and president with a 33.22% stake as of Sept. 30, 2023. Yu and Zhang Xiao Juan, who owned 2.15% of YTO as of that date, are persons acting in concert. YTO's strategic shareholder is leading China e-commerce company Alibaba Group and its affiliated companies, with around a 20.65% interest as of Dec. 2, 2023.
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