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.
Ann Joo Resources Bhd's Sloan Ratio for the quarter that ended in Dec. 2023 was 5.14%.
As of Dec. 2023, Ann Joo Resources Bhd has a Sloan Ratio of 5.14%, indicating the company is in the safe zone and there is no funny business with accruals.
Ann Joo Resources Bhd Sloan Ratio % Historical Data
The historical data trend for Ann Joo Resources 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 Ann Joo Resources Bhd's Sloan Ratio %
For the Steel subindustry, Ann Joo Resources 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.
Ann Joo Resources Bhd's Sloan Ratio % Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, Ann Joo Resources Bhd's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Ann Joo Resources Bhd's Sloan Ratio % falls into.
Ann Joo Resources 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.
Ann Joo Resources Bhd's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Ann Joo Resources Bhd's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was -21.075 (Mar. 2023 ) + 0.643 (Jun. 2023 ) + -55.69 (Sep. 2023 ) + 73.95 (Dec. 2023 ) = RM-2 Mil.
Ann Joo Resources Bhd's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 28.025 (Mar. 2023 ) + -144.276 (Jun. 2023 ) + -40.449 (Sep. 2023 ) + 42.531 (Dec. 2023 ) = RM-114 Mil.
Ann Joo Resources Bhd's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -10.048 (Mar. 2023 ) + -34.428 (Jun. 2023 ) + -18.263 (Sep. 2023 ) + 11.618 (Dec. 2023 ) = RM-51 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.
Ann Joo Resources Bhd (XKLS:6556) 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 Dec. 2023, Ann Joo Resources Bhd has a Sloan Ratio of 5.14%, indicating the company is in the safe zone and there is no funny business with accruals.
Ann Joo Resources Bhd Sloan Ratio % Related Terms
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Ann Joo Resources Bhd (XKLS:6556) Business Description
Ann Joo Resources Bhd is mainly engaged in the manufacturing and trading of steel and steel-related products. The business activity of the group is divided into four segments: Upstream steel division which includes Manufacturing and trading of iron, steel, and steel-related products; Downstream steel division which engaged in Trading of steel and steel-related products, hardware, building and construction materials and operations of steel service centers; Green technology division which include Project management and contract services for solar and other renewable energy business as well as waste management services; and Investment Holding, property management and others. Geographically, it derives a majority of its revenue from Malaysia.
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