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.
Tien Phong Securities's Sloan Ratio for the quarter that ended in Mar. 2024 was 23.98%.
As of Mar. 2024, Tien Phong Securities has a Sloan Ratio of 23.98%, indicating there is a warning stage of accrual build up.
Tien Phong Securities Sloan Ratio % Historical Data
The historical data trend for Tien Phong Securities'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 Tien Phong Securities's Sloan Ratio %
For the Capital Markets subindustry, Tien Phong Securities'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.
Tien Phong Securities's Sloan Ratio % Distribution in the Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Tien Phong Securities's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Tien Phong Securities's Sloan Ratio % falls into.
Tien Phong Securities 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.
Tien Phong Securities's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Tien Phong Securities's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 49176.112 (Jun. 2023 ) + 59320.224 (Sep. 2023 ) + 58997.329 (Dec. 2023 ) + 75117.924 (Mar. 2024 ) = ₫242,612 Mil.
Tien Phong Securities's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 1737464.909 (Jun. 2023 ) + -785137.762 (Sep. 2023 ) + -756827.848 (Dec. 2023 ) + -2420071.449 (Mar. 2024 ) = ₫-2,224,572 Mil.
Tien Phong Securities's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -708.33 (Jun. 2023 ) + -1891.821 (Sep. 2023 ) + -7498.124 (Dec. 2023 ) + -1754.3 (Mar. 2024 ) = ₫-11,853 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.
Tien Phong Securities (STC:ORS) 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, Tien Phong Securities has a Sloan Ratio of 23.98%, indicating there is a warning stage of accrual build up.
Tien Phong Securities Sloan Ratio % Related Terms
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Tien Phong Securities (STC:ORS) Business Description
Tien Phong Securities Corp is a Vietnam-based provider of investment services. It is engaged in the provision of financial advisory, brokerage services for individual and institutional clients. The Company is also involved in securities dealing.
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