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, Sinopec Oilfield Service has a Sloan Ratio of -0.94%, indicating the company is in the safe zone and there is no funny business with accruals.
Sinopec Oilfield Service 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 Sinopec Oilfield Service's Sloan Ratio %
For the Oil & Gas Drilling subindustry, Sinopec Oilfield Service'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.
Sinopec Oilfield Service's Sloan Ratio % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Sinopec Oilfield Service's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Sinopec Oilfield Service's Sloan Ratio % falls into.
Sinopec Oilfield Service 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.
Sinopec Oilfield Service's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Sinopec Oilfield Service's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 25.245 (Jun. 2023 ) + 16.128 (Sep. 2023 ) + 20.393 (Dec. 2023 ) + 24.643 (Mar. 2024 ) = $86 Mil.
Sinopec Oilfield Service's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was 131.706 (Jun. 2023 ) + 111.4 (Sep. 2023 ) + 608.15 (Dec. 2023 ) + -106.292 (Mar. 2024 ) = $745 Mil.
Sinopec Oilfield Service's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -189.524 (Jun. 2023 ) + -127.437 (Sep. 2023 ) + -209.507 (Dec. 2023 ) + -34.227 (Mar. 2024 ) = $-561 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.
Sinopec Oilfield Service (OTCPK:YZCFF) 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, Sinopec Oilfield Service has a Sloan Ratio of -0.94%, indicating the company is in the safe zone and there is no funny business with accruals.
Sinopec Oilfield Service Sloan Ratio % Related Terms
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Sinopec Oilfield Service (Sinopec Oilfield Service) Business Description
Sinopec Oilfield Service Corp engages in the provision of onshore and offshore oil and natural gas, exploration, provision of contracting, design, and construction services for the oil and gas projects. It operates through five segments: Geophysics, which provides technical and development, exploration geophysical services; Drilling engineering segment, which provides drilling design, and construction, technical services; Logging and mud logging segment; Special downhole segment, which provides oil engineering technical and construction services; and Engineering construction segment, which provides a package of services, including feasibility studies, procurement, and others. Its geographical segments are, The PRC, Middle East and Other countries.
Sinopec Oilfield Service (Sinopec Oilfield Service) Headlines
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