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.
Shin Yang Group Bhd's Sloan Ratio for the quarter that ended in Mar. 2024 was -2.23%.
As of Mar. 2024, Shin Yang Group Bhd has a Sloan Ratio of -2.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Shin Yang Group Bhd Sloan Ratio % Historical Data
The historical data trend for Shin Yang Group Bhd'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 Shin Yang Group Bhd's Sloan Ratio %
For the Marine Shipping subindustry, Shin Yang Group Bhd'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.
Shin Yang Group Bhd's Sloan Ratio % Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Shin Yang Group Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Shin Yang Group Bhd's Sloan Ratio % falls into.
Shin Yang Group Bhd 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.
Shin Yang Group Bhd's Sloan Ratio for the fiscal year that ended in Jun. 2023 is calculated as
Shin Yang Group Bhd's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 47.919 (Jun. 2023 ) + 26.053 (Sep. 2023 ) + 19.516 (Dec. 2023 ) + 34.659 (Mar. 2024 ) = RM128.1 Mil.
Shin Yang Group Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 44.095 (Jun. 2023 ) + 10.848 (Sep. 2023 ) + 52.924 (Dec. 2023 ) + 29.358 (Mar. 2024 ) = RM137.2 Mil.
Shin Yang Group Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was 14.121 (Jun. 2023 ) + 9.594 (Sep. 2023 ) + 10.624 (Dec. 2023 ) + -8.299 (Mar. 2024 ) = RM26.0 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.
Shin Yang Group Bhd (XKLS:5173) 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, Shin Yang Group Bhd has a Sloan Ratio of -2.23%, indicating the company is in the safe zone and there is no funny business with accruals.
Shin Yang Group Bhd Sloan Ratio % Related Terms
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Shin Yang Group Bhd (XKLS:5173) Business Description
Shin Yang Group Bhd formerly Shin Yang Shipping Corp Bhd is a shipping company engaged in shipbuilding and shipping services. It has four business segments, shipping, ship repair and fabrication of metal structures segment, domestic and regional shipping segment which generates the majority of revenue, carries out shipping business in coastal and regional routes within Malaysia and the ASEAN region, International shipping segment, Land transportation and hiring services segment, Manufacturing, distribution and marketing of industrial gases, provision of services and maintenance and trading in welding equipment and machinery, and others segment consist of the business of shipping agency. It operates in various countries like Malaysia, Singapore, Netherlands, Japan, Taiwan, and others.
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