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.
Inficon Holding AG's Sloan Ratio for the quarter that ended in Dec. 2023 was 2.11%.
As of Dec. 2023, Inficon Holding AG has a Sloan Ratio of 2.11%, indicating the company is in the safe zone and there is no funny business with accruals.
Inficon Holding AG Sloan Ratio % Historical Data
The historical data trend for Inficon Holding AG'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 Inficon Holding AG's Sloan Ratio %
For the Scientific & Technical Instruments subindustry, Inficon Holding AG'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.
Inficon Holding AG's Sloan Ratio % Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Inficon Holding AG's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Inficon Holding AG's Sloan Ratio % falls into.
Inficon Holding AG 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.
Inficon Holding AG's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Inficon Holding AG's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 42.233 (Jun. 2023 ) + 50.825 (Dec. 2023 ) = CHF93.1 Mil.
Inficon Holding AG's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 37.635 (Jun. 2023 ) + 66.12 (Dec. 2023 ) = CHF103.8 Mil.
Inficon Holding AG's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -7.986 (Jun. 2023 ) + -12.177 (Dec. 2023 ) = CHF-20.2 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.
Inficon Holding AG (XSWX:IFCN) 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, Inficon Holding AG has a Sloan Ratio of 2.11%, indicating the company is in the safe zone and there is no funny business with accruals.
Inficon Holding AG Sloan Ratio % Related Terms
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Inficon Holding AG (XSWX:IFCN) Business Description
Inficon Holding AG operates in the technology sector in Switzerland. It caters to the scientific equipment industry by offering products that find their use in various industrial applications such as air conditioning, automotive manufacturing, manufacture of LEDs, semiconductors, and optical and solar devices. Its main products are leak detectors and gauges which help reduce the harmful effects of gases on the environment and reduce energy consumption. The other products in its portfolio comprise of chemical detectors, electron beam gun control, mass spectrometers, gas concentration monitors, vacuum gauge controllers and cables, and vacuum transmitters. The Asia Pacific region accounts for most of the company's product sales.
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