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.
Ad-Sol Nissin's Sloan Ratio for the quarter that ended in Sep. 2024 was 0.00%.
As of Sep. 2024, Ad-Sol Nissin has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Ad-Sol Nissin Sloan Ratio % Historical Data
The historical data trend for Ad-Sol Nissin'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 Ad-Sol Nissin's Sloan Ratio %
For the Information Technology Services subindustry, Ad-Sol Nissin'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.
Ad-Sol Nissin's Sloan Ratio % Distribution in the Software Industry
For the Software industry and Technology sector, Ad-Sol Nissin's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Ad-Sol Nissin's Sloan Ratio % falls into.
Ad-Sol Nissin 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.
Ad-Sol Nissin's Sloan Ratio for the fiscal year that ended in Mar. 2024 is calculated as
Ad-Sol Nissin's Net Income for the trailing twelve months (TTM) ended in Sep. 2024 was 261.084 (Sep. 2023 ) + 297.77 (Dec. 2023 ) + 199.689 (Mar. 2024 ) + 0 (Sep. 2024 ) = 円759 Mil.
Ad-Sol Nissin's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2024 was 0 (Sep. 2023 ) + 0 (Dec. 2023 ) + 0 (Mar. 2024 ) + 0 (Sep. 2024 ) = 円0 Mil.
Ad-Sol Nissin's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2024 was 0 (Sep. 2023 ) + 0 (Dec. 2023 ) + 0 (Mar. 2024 ) + 0 (Sep. 2024 ) = 円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.
Ad-Sol Nissin (TSE:3837) 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 Sep. 2024, Ad-Sol Nissin has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Ad-Sol Nissin Sloan Ratio % Related Terms
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Ad-Sol Nissin Corp develops information systems for enterprises. The company provides Social Infrastructure Business, Advanced Industry Business, IoX Integrated Engineering Business, and Security solutions. The Social Infrastructure Business develops system integration services in social infrastructures such as energy, road, aerospace, and others. Advanced Industry Business promotes Next Generation EV Vehicle, Industrial Equipment, and others. The IoX Integrated Engineering Business propose solutions such as AI. Big Data, Wireless, and others, and Security Solution protect IoT devices from cyber attacks.
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