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.
Tv AztecaB de CV's Sloan Ratio for the quarter that ended in Dec. 2022 was -1.52%.
As of Dec. 2022, Tv AztecaB de CV has a Sloan Ratio of -1.52%, indicating the company is in the safe zone and there is no funny business with accruals.
Tv AztecaB de CV Sloan Ratio % Historical Data
The historical data trend for Tv AztecaB de CV'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 Tv AztecaB de CV's Sloan Ratio %
For the Broadcasting subindustry, Tv AztecaB de CV'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.
Tv AztecaB de CV's Sloan Ratio % Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Tv AztecaB de CV's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Tv AztecaB de CV's Sloan Ratio % falls into.
Tv AztecaB de CV 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.
Tv AztecaB de CV's Sloan Ratio for the fiscal year that ended in Dec. 2022 is calculated as
Tv AztecaB de CV's Net Income for the trailing twelve months (TTM) ended in Dec. 2022 was 12.994 (Mar. 2022 ) + 7.633 (Jun. 2022 ) + 0.212 (Sep. 2022 ) + 6.073 (Dec. 2022 ) = €26.9 Mil.
Tv AztecaB de CV's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2022 was -82.167 (Mar. 2022 ) + 83.952 (Jun. 2022 ) + 77.216 (Sep. 2022 ) + -13.902 (Dec. 2022 ) = €65.1 Mil.
Tv AztecaB de CV's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2022 was -0.69 (Mar. 2022 ) + -2.787 (Jun. 2022 ) + -5.862 (Sep. 2022 ) + -10.696 (Dec. 2022 ) = €-20.0 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.
Tv AztecaB de CV (STU:G4Z) 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 Dec. 2022, Tv AztecaB de CV has a Sloan Ratio of -1.52%, indicating the company is in the safe zone and there is no funny business with accruals.
Tv AztecaB de CV Sloan Ratio % Related Terms
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Tv Azteca SAB de CV is primarily involved in the production of Spanish-language television programming. It operates four television channels in Mexico: Azteca uno, which is oriented to women, Azteca 7 which focuses on contemporary families, adn40 which focuses on a first 24-hour informative television channel, and a + which is for a network of local signals. The company also owns two soccer teams of the first division of the Mexican Football Federation and operates Azteca Internet. It also produces a variety of content, including series, reality shows, news, broadcasts, sports broadcasts, music programs, contest shows, talk shows and variety shows. It derives most of its revenues from the sale of the television programming and has operations spread across Mexico.
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