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.
As of Mar. 2024, CapitaLand Malaysia Trust has a Sloan Ratio of -0.51%, indicating the company is in the safe zone and there is no funny business with accruals.
CapitaLand Malaysia Trust 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 CapitaLand Malaysia Trust's Sloan Ratio %
For the REIT - Retail subindustry, CapitaLand Malaysia Trust'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.
CapitaLand Malaysia Trust's Sloan Ratio % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, CapitaLand Malaysia Trust's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where CapitaLand Malaysia Trust's Sloan Ratio % falls into.
CapitaLand Malaysia Trust 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.
CapitaLand Malaysia Trust's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
CapitaLand Malaysia Trust's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 29.723 (Jun. 2023 ) + 27.777 (Sep. 2023 ) + 94.124 (Dec. 2023 ) + 33.485 (Mar. 2024 ) = RM185.1 Mil.
CapitaLand Malaysia Trust's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 57.354 (Jun. 2023 ) + 64.475 (Sep. 2023 ) + 61.555 (Dec. 2023 ) + 51.579 (Mar. 2024 ) = RM235.0 Mil.
CapitaLand Malaysia Trust's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -4.993 (Jun. 2023 ) + -46.435 (Sep. 2023 ) + 32.836 (Dec. 2023 ) + -5.155 (Mar. 2024 ) = RM-23.7 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.
CapitaLand Malaysia Trust (XKLS:5180) 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, CapitaLand Malaysia Trust has a Sloan Ratio of -0.51%, indicating the company is in the safe zone and there is no funny business with accruals.
CapitaLand Malaysia Trust Sloan Ratio % Related Terms
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CapitaLand Malaysia Trust (XKLS:5180) Business Description
CapitaLand Malaysia Trust is a property investment trust that focuses on retail properties in Malaysia. its portfolio of quality assets comprises five retail properties, an office and a logistics park. Its retail and office properties are strategically located across three key urban centers: Gurney Plaza in Penang; four in Klang Valley a majority interest in Sungei Wang Plaza in Kuala Lumpur; 3 Damansara and 3 Damansara Office Tower in Petaling Jaya; and The Mines in Seri Kembangan; and East Coast Mall in Kuantan, Pahang. The company operates in two reportable segments Retail and Others.
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