What is China National Accord Medicines Sloan Ratio %?
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 Mar. 2024, China National Accord Medicines has a Sloan Ratio of -0.68%, indicating the company is in the safe zone and there is no funny business with accruals.
China National Accord Medicines 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.
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China National Accord Medicines Sloan Ratio % Chart
Competitive Comparison of China National Accord Medicines's Sloan Ratio %
For the Medical Distribution subindustry, China National Accord Medicines'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.
China National Accord Medicines's Sloan Ratio % Distribution in the Medical Distribution Industry
For the Medical Distribution industry and Healthcare sector, China National Accord Medicines's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where China National Accord Medicines's Sloan Ratio % falls into.
China National Accord Medicines 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.
China National Accord Medicines's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 468.046 (Jun. 2023 ) + 359.413 (Sep. 2023 ) + 409.592 (Dec. 2023 ) + 388.771 (Mar. 2024 ) = ¥1,626 Mil.
China National Accord Medicines's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 1276.291 (Jun. 2023 ) + -20.807 (Sep. 2023 ) + 1471.67 (Dec. 2023 ) + -634.146 (Mar. 2024 ) = ¥2,093 Mil.
China National Accord Medicines's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -3.572 (Jun. 2023 ) + 8.117 (Sep. 2023 ) + -70.946 (Dec. 2023 ) + -51.987 (Mar. 2024 ) = ¥-118 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.
China National Accord Medicines (SZSE:000028) 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, China National Accord Medicines has a Sloan Ratio of -0.68%, indicating the company is in the safe zone and there is no funny business with accruals.
China National Accord Medicines Sloan Ratio % Related Terms
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China National Accord Medicines (SZSE:000028) Business Description
China National Accord Medicines Corp Ltd develops and manufactures pharmaceuticals in China. The company engaged in the wholesale of Chinese patent drugs, traditional Chinese medicines, chemical medicine preparations, antibiotics, biochemical drugs and cerebrovascular system drugs. It operates through the following segments: The Head office segment engages in investing and managing the business; The Pharmaceutical Distribution segment engages in the distribution of medicine and pharmaceutical products to customers, including hospitals, other distributors, retail drug stores, and clinics, and Retail pharmacy segment, which is managing the operation of Guoda Pharmacy. It generates maximum revenue from the Pharmaceutical Distribution segment.
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