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.
Secure Energy Services's Sloan Ratio for the quarter that ended in Mar. 2024 was -28.43%.
As of Mar. 2024, Secure Energy Services has a Sloan Ratio of -28.43%, indicating there is a warning stage of accrual build up.
Secure Energy Services 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.
Competitive Comparison of Secure Energy Services's Sloan Ratio %
For the Waste Management subindustry, Secure Energy Services'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.
Secure Energy Services's Sloan Ratio % Distribution in the Waste Management Industry
For the Waste Management industry and Industrials sector, Secure Energy Services's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Secure Energy Services's Sloan Ratio % falls into.
Secure Energy Services 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.
Secure Energy Services's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Secure Energy Services's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 34 (Jun. 2023 ) + 47 (Sep. 2023 ) + 59 (Dec. 2023 ) + 422 (Mar. 2024 ) = C$562 Mil.
Secure Energy Services's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 131 (Jun. 2023 ) + 170 (Sep. 2023 ) + 32 (Dec. 2023 ) + 8 (Mar. 2024 ) = C$341 Mil.
Secure Energy Services's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -41 (Jun. 2023 ) + -68 (Sep. 2023 ) + -21 (Dec. 2023 ) + 1103 (Mar. 2024 ) = C$973 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.
Secure Energy Services (TSX:SES) 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, Secure Energy Services has a Sloan Ratio of -28.43%, indicating there is a warning stage of accrual build up.
Secure Energy Services Sloan Ratio % Related Terms
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Secure Energy Services (TSX:SES) Business Description
Secure Energy Services Inc provides fluids and solids solutions to the oil and gas industry. It operates in two segments: Midstream Infrastructure and Environmental and Fluid Management. Midstream Infrastructure owns and operates a network of facilities throughout western Canada, North Dakota, and Oklahoma. These facilities provide processing, storing, shipping, and marketing of crude oil; the processing of waste; and water treatment and disposal. The Environmental and Fluid Management segment includes a network of landfill disposal facilities; onsite abandonment, remediation, and reclamation management; a suite of comprehensive environmental management solutions. The company's geographical segments are Canada and the United States.
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