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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.
Shift Technologies's Sloan Ratio for the quarter that ended in Jun. 2023 was -143.52%.
As of Jun. 2023, Shift Technologies has a Sloan Ratio of -143.52%, indicating earnings are more likely to be made up of accruals.
Shift Technologies (STU:4GI0) 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. 2023, Shift Technologies has a Sloan Ratio of -143.52%, indicating earnings are more likely to be made up of accruals.
Shift Technologies Sloan Ratio % Related Terms
Shift Technologies Sloan Ratio % Historical Data
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The historical data trend for Shift Technologies'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.
STU:4GI0 vs PREC, EICCF, JZXN: Sloan Ratio % Comparison
For the Auto & Truck Dealerships subindustry, Shift Technologies'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.
Shift Technologies Sloan Ratio % vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Shift Technologies's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Shift Technologies's Sloan Ratio % falls into.
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.
Shift Technologies's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as
Shift Technologies's Net Income for the trailing twelve months (TTM) ended in Jun. 2023 was -76.568 (Sep. 2022 ) + 12.286 (Dec. 2022 ) + -44.923 (Mar. 2023 ) + -23.791 (Jun. 2023 ) = €-133.0 Mil.
Shift Technologies's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2023 was 10.61 (Sep. 2022 ) + -21.512 (Dec. 2022 ) + -33.917 (Mar. 2023 ) + -25.819 (Jun. 2023 ) = €-70.6 Mil.
Shift Technologies's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2023 was -2.618 (Sep. 2022 ) + 86.864 (Dec. 2022 ) + -0.883 (Mar. 2023 ) + 0.116 (Jun. 2023 ) = €83.5 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.
Shift Technologies (STU:4GI0) has a Sloan Ratio % of -143.52% as of Jun. 2023. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Shift Technologies and its competitors.
Is Shift Technologies' Sloan Ratio % too high?
Shift Technologies' current Sloan Ratio % is -143.52%. Overall, Shift Technologies has a GF Score™ of 10/100, reflecting its overall financial health beyond just this single metric.
How does Shift Technologies' Sloan Ratio % compare to PREC and EICCF?
Shift Technologies' Sloan Ratio % of -143.52% can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Sloan Ratio % depends on the Vehicles & Parts 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 Shift Technologies and its competitors. Shift Technologies's current Sloan Ratio % is -143.52%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shift Technologies stock overvalued right now?
Shift Technologies (STU:4GI0) has a current Sloan Ratio % of -143.52%. The current Sloan Ratio % is -143.52%. Shift Technologies' overall GF Score™ is 10/100. 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 Shift Technologies (STU:4GI0), the current Sloan Ratio % is -143.52% as of Jun. 2023. 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.
Shift Technologies Inc is an end-to-end auto e-commerce platform transforming the used car industry with a technology-driven, hassle-free customer experience. The company makes car purchase and ownership simple - making buying or selling a used car fun, fair, and accessible to everyone. It provides comprehensive, digital solutions throughout the car ownership lifecycle: finding the right car, having a test drive , a seamless digitally-driven purchase transaction including financing and vehicle protection products, an efficient, digital trade-in/sale transaction, and a vision to provide high-value support services during car ownership. It operates in two segments: Retail and Wholesale, of which the majority of its revenue comes from Retail.
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