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.
Inpex's Sloan Ratio for the quarter that ended in Jun. 2024 was 0.00%.
As of Jun. 2024, Inpex has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Inpex Sloan Ratio % Historical Data
The historical data trend for Inpex'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.
For the Oil & Gas E&P subindustry, Inpex'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.
Inpex's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Inpex's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Inpex's Sloan Ratio % falls into.
Inpex 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.
Inpex's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Inpex's Net Income for the trailing twelve months (TTM) ended in Jun. 2024 was 31899 (Sep. 2023 ) + 91139 (Dec. 2023 ) + 121829 (Mar. 2024 ) + 90756 (Jun. 2024 ) = 円335,623 Mil.
Inpex's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2024 was 0 (Sep. 2023 ) + 0 (Dec. 2023 ) + 140226 (Mar. 2024 ) + 228768 (Jun. 2024 ) = 円368,994 Mil.
Inpex's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2024 was 0 (Sep. 2023 ) + 0 (Dec. 2023 ) + -123445 (Mar. 2024 ) + -194711 (Jun. 2024 ) = 円-318,156 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.
Inpex (TSE:1605) 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. 2024, Inpex has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Inpex Sloan Ratio % Related Terms
Thank you for viewing the detailed overview of Inpex's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Headquartered in Tokyo, Inpex was founded in 2008 through a merger with Teikoku Oil. The precursor Inpex began life in 1966 as North Sumatra Offshore Petroleum Exploration Co, and discovered the Attaka field in Indonesia in 1970 before acquiring the ADMA Block offshore the United Arab Emirates in 1977 and then discovering the Kashagan oil field in Kazakhstan, and Ichthys and Abadi gas fields in the Timor Sea in 2001. Teikoku Oil was founded in 1941 as a semigovernment entity and discovered Japan's largest natural gas reserves in Minami Nagaoka in 1979.Inpex is Japan's largest hydrocarbon producer, with oil and gas projects across multiple continents. It produces 230 million barrels of oil equivalent per year and has 6.2 billion barrels of oil equivalent in proven and probable reserves.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSE:1605 has been successfully added to your 