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.
Trakya Camnayii AS's Sloan Ratio for the quarter that ended in Dec. 2020 was 1.58%.
As of Dec. 2020, Trakya Camnayii AS has a Sloan Ratio of 1.58%, indicating the company is in the safe zone and there is no funny business with accruals.
Trakya Camnayii AS Sloan Ratio % Historical Data
The historical data trend for Trakya Camnayii AS'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 Trakya Camnayii AS's Sloan Ratio %
For the Specialty Chemicals subindustry, Trakya Camnayii AS'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.
Trakya Camnayii AS's Sloan Ratio % Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Trakya Camnayii AS's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Trakya Camnayii AS's Sloan Ratio % falls into.
Trakya Camnayii AS 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.
Trakya Camnayii AS's Sloan Ratio for the fiscal year that ended in Dec. 2020 is calculated as
Trakya Camnayii AS's Net Income for the trailing twelve months (TTM) ended in Dec. 2020 was 25.422 (Mar. 2020 ) + -22.884 (Jun. 2020 ) + 114.943 (Sep. 2020 ) + 96.677 (Dec. 2020 ) = $214.16 Mil.
Trakya Camnayii AS's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2020 was -46.448 (Mar. 2020 ) + -49.497 (Jun. 2020 ) + 213.387 (Sep. 2020 ) + 218.762 (Dec. 2020 ) = $336.20 Mil.
Trakya Camnayii AS's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2020 was -2.409 (Mar. 2020 ) + 39.814 (Jun. 2020 ) + -150.393 (Sep. 2020 ) + -99.584 (Dec. 2020 ) = $-212.57 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.
Trakya Camnayii AS (GREY:TRKCY) 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. 2020, Trakya Camnayii AS has a Sloan Ratio of 1.58%, indicating the company is in the safe zone and there is no funny business with accruals.
Trakya Camnayii AS Sloan Ratio % Related Terms
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Trakya Camnayii AS (Trakya Camnayii AS) Business Description
Trakya Cam Sanayii AS is a building materials company engaged in glass manufacturing. The company creates glass products that include solar glass, automobile glass, home appliance glass, and architectural glass. Trakya's solar glass is utilized for photovoltaics and thermal collectors, while its home appliance glass segment is used in ovens and refrigerators. The company's architectural glass segment is used in retail stores, high-rise buildings, and airports. These core offering are supplemented by other products, such as energy efficient glass, which utilizes heat controlled insulation. The company generates the majority of its revenue in Turkey.
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