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.
Kheen Bhd's Sloan Ratio for the quarter that ended in Mar. 2024 was 0.55%.
As of Mar. 2024, Kheen Bhd has a Sloan Ratio of 0.55%, indicating the company is in the safe zone and there is no funny business with accruals.
Kheen Bhd Sloan Ratio % Historical Data
The historical data trend for Kheen 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 Kheen Bhd's Sloan Ratio %
For the Confectioners subindustry, Kheen 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.
Kheen Bhd's Sloan Ratio % Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Kheen Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Kheen Bhd's Sloan Ratio % falls into.
Kheen 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.
Kheen Bhd's Sloan Ratio for the fiscal year that ended in Jun. 2023 is calculated as
Kheen Bhd's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 1.528 (Jun. 2023 ) + 0.369 (Sep. 2023 ) + 0.215 (Dec. 2023 ) + 0.098 (Mar. 2024 ) = RM2.21 Mil.
Kheen Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 0.124 (Jun. 2023 ) + -0.448 (Sep. 2023 ) + 1.524 (Dec. 2023 ) + 0.582 (Mar. 2024 ) = RM1.78 Mil.
Kheen Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -0.083 (Jun. 2023 ) + 0.264 (Sep. 2023 ) + -0.082 (Dec. 2023 ) + -0.068 (Mar. 2024 ) = RM0.03 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.
Kheen Bhd (XKLS:6203) 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, Kheen Bhd has a Sloan Ratio of 0.55%, indicating the company is in the safe zone and there is no funny business with accruals.
Kheen Bhd Sloan Ratio % Related Terms
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Khee San Bhd is a Malaysia-based company. Its principal business is the manufacturing of candies and wafer confectionery. The company operates in two segments Investment and Manufacturing and trading. The prime revenue is generated from the Manufacturing and trading segment which includes manufacturing and trading of food and all related products. Its products include candies, chewy, tablet, hard, bubble gum, chewing gum, deposited, and wafers. Some of the products offered by the company are marketed under brands of Fruitplus, Torrone, Victory, S'creams, Bento, and others. The group operates in Malaysia and also exports its products to other geographical regions, such as Africa, Europe and Rest of Asia.
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