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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.
U-Haul Holding Co's Sloan Ratio for the quarter that ended in Dec. 2024 was 8.63%.
As of Dec. 2024, U-Haul Holding Co has a Sloan Ratio of 8.63%, indicating the company is in the safe zone and there is no funny business with accruals.
The historical data trend for U-Haul Holding Co'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.
U-Haul Holding Co Annual Data | |||||||||||||||||||||
Trend | Mar15 | Mar16 | Mar17 | Mar18 | Mar19 | Mar20 | Mar21 | Mar22 | Mar23 | Mar24 | |||||||||||
Sloan Ratio % | Get a 7-Day Free Trial |
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8.43 | 1.40 | 6.04 | 8.93 | 6.41 |
U-Haul Holding Co Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Sloan Ratio % | Get a 7-Day Free Trial |
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7.75 | 6.41 | 8.74 | 7.65 | 8.63 |
For the Rental & Leasing Services subindustry, U-Haul Holding Co'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.
For the Business Services industry and Industrials sector, U-Haul Holding Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where U-Haul Holding Co's Sloan Ratio % falls into.
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.
U-Haul Holding Co's Sloan Ratio for the fiscal year that ended in Mar. 2024 is calculated as
Sloan Ratio | = | (Net Income (A: Mar. 2024 ) | - | Cash Flow from Operations (A: Mar. 2024 ) |
- | Cash Flow from Investing (A: Mar. 2024 )) | / | Total Assets (A: Mar. 2024 ) | |
= | (628.707 | - | 1452.756 | |
- | -2046.373) | / | 19058.758 | |
= | 6.41% |
U-Haul Holding Co's Sloan Ratio for the quarter that ended in Dec. 2024 is calculated as
Sloan Ratio | = | (Net Income (TTM) | - | Cash Flow from Operations (TTM)) |
- | Cash Flow from Investing (TTM)) | / | Total Assets (Q: Dec. 2024 ) | |
= | (448.518 | - | 1468.609 | |
- | -2774.926) | / | 20330.165 | |
= | 8.63% |
U-Haul Holding Co's Net Income for the trailing twelve months (TTM) ended in Dec. 2024 was -0.863 (Mar. 2024 ) + 195.417 (Jun. 2024 ) + 186.798 (Sep. 2024 ) + 67.166 (Dec. 2024 ) = $449 Mil. U-Haul Holding Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2024 was 212.713 (Mar. 2024 ) + 453.903 (Jun. 2024 ) + 530.375 (Sep. 2024 ) + 271.618 (Dec. 2024 ) = $1,469 Mil. U-Haul Holding Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2024 was -336.48 (Mar. 2024 ) + -803.318 (Jun. 2024 ) + -794.549 (Sep. 2024 ) + -840.579 (Dec. 2024 ) = $-2,775 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.
U-Haul Holding Co (NYSE:UHAL) 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.
According to How to Beat the Market with the Sloan Ratio:
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. 2024, U-Haul Holding Co has a Sloan Ratio of 8.63%, indicating the company is in the safe zone and there is no funny business with accruals.
Thank you for viewing the detailed overview of U-Haul Holding Co's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
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