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.
Azrieli Group's Sloan Ratio for the quarter that ended in Dec. 2023 was 4.30%.
As of Dec. 2023, Azrieli Group has a Sloan Ratio of 4.30%, indicating the company is in the safe zone and there is no funny business with accruals.
Azrieli Group Sloan Ratio % Historical Data
The historical data trend for Azrieli Group'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 Azrieli Group's Sloan Ratio %
For the Real Estate Services subindustry, Azrieli Group'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.
Azrieli Group's Sloan Ratio % Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Azrieli Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Azrieli Group's Sloan Ratio % falls into.
Azrieli Group 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.
Azrieli Group's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Azrieli Group's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 377 (Mar. 2023 ) + 418 (Jun. 2023 ) + 352 (Sep. 2023 ) + 1077 (Dec. 2023 ) = ₪2,224 Mil.
Azrieli Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 301 (Mar. 2023 ) + 280 (Jun. 2023 ) + 463 (Sep. 2023 ) + 327 (Dec. 2023 ) = ₪1,371 Mil.
Azrieli Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -1057 (Mar. 2023 ) + -782 (Jun. 2023 ) + -929 (Sep. 2023 ) + 1296 (Dec. 2023 ) = ₪-1,472 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.
Azrieli Group (XTAE:AZRG) 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, Azrieli Group has a Sloan Ratio of 4.30%, indicating the company is in the safe zone and there is no funny business with accruals.
Azrieli Group Sloan Ratio % Related Terms
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Azrieli Group Ltd manages and operates companies that own properties across Israel, subsidiaries in the energy, water, and environment industries, a card company, and a bank. The company's income-producing properties include shopping malls, office towers, industrial buildings, and residential properties. In addition to owning properties in Israel, the portfolio consists of a minor number of international properties. Under the energy business, holdings include marketing and distribution of refined oil and water desalination, wastewater purification, and sludge treatment facilities.
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